Thursday 27 October 2016

Front Lounge leasehold on the block

Published 14/04/2016 | 02:30

The leasehold of The Front Lounge is on the block for €750,000
The leasehold of The Front Lounge is on the block for €750,000

The leasehold on one of the best known pubs in Dublin has been put on the market with a guide price of €750,000.

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The sale is being managed by CBRE.

The Front Lounge is located on Parliament Street, midway between Dame Street and Capel Street Bridge and within the "West End" of Temple Bar.

The Front Lounge is described as being a "beautifully appointed and popular licensed premises which has been completely rejuvenated in recent years and is in "walk-in" condition".

Behind the retro style exterior lies an extensive ground floor lounge bar of 345 sq m with a "unique and stylish" interior.

There is an open plan catering kitchen at this level while in the basement there is a further prep kitchen and beer coldroom of 70 sq m

The property is held under a 35 year lease from July 1995 with rent reviews every five years. The current abated rent is €220,000 per annum.

The agents describe the property as being close to a number of Dublin's best known landmarks. It is a stone's throw from City Hall and Dublin Castle and a host of tourist attractions including Trinity College, Christchurch Cathedral, Guinness Storehouse and is convenient to the Grafton Street and Henry Street shopping precincts. The property is also within walking distance of the Four Courts.

CBRE's John Hughes commented: "This is an exceptional and unique opportunity to trade in the lucrative and vibrant Temple Bar area coupled with the added scope to substantially increase the present conservative level of turnover in line with the increasing popularity of the area."

The Dublin pub trade has been recovering of late, coming from the depths of the recession. A number of pubs are currently on the market in the city, and fewer of them are distressed sales in a sign the market is in recovery mode now.

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