Halfway House in Walkinstown sells for more than €1.5m guide
Published 05/07/2015 | 02:30
CBRE have confirmed that the Halfway House in Walkinstown has been sold.
The property was sold on the instructions of joint receivers Stephen Tennant and Paul McCann of Grant Thornton.
Terms of the sale were not revealed but it is expected to been well above the €1.5m asking price.
The Halfway House is described as a "landmark licensed premises occupying a pivotal trading location at the intersection of Walkinstown Road, Long Mile Road and Drimnagh Road".
The property is situated in a densely populated residential area and is also close to a host of commercial business parks located in and around the Naas Road area. The "well appointed" two storey licensed premises enjoyed a substantial food and drink turnover and according to selling agent John Ryan of CBRE generated significant interest from established publicans.
The property was acquired by publican Eamonn O'Malley who also owns Fagans in Drumcondra, The Autobahn in Glasnevin and The Yacht in Clontarf.
Mr O'Malley has been active in the market in recent months, along with other publicans who are looking to take advantage of an industry that is tentatively recovering from the bottom of the market.
Meanwhile, Morrisseys have been retained as agents to sell Hollands Bar on Main Street in Bray, Co Wicklow.
The property is being put on the market on behalf of the Holland family who have traded the at the business since 1968.
Holland's comprises a andmark, business premises commanding an excellent corner trading position on the Main Street at its junction with Novara Road in the heart of Bray Town with valuable spacious residential accommodation overhead enjoying separated access therefore "ideally suitable to generate annual rental income".
Holland's is made up of a ground floor lounge bar in three sections together with valuable adjoining off licence complemented by the requisite service and storage and beer garden and smoking Area accommodation capable of enjoying a high volume trade.
The first floor accommodation set out in two self contained residential areas, one spacious apartmentat 107 sq.m and a second apartment area of 47sq m.
"Holland's really offers a discerning purchaser the true opportunity to acquire a Licensed Premises capable of increasing the existing voluminous trade with the further development of the food operation that currently exists," said the agents.
Sunday Indo Business