Tuesday 27 June 2017

Prices rise but fewer pubs being sold in the capital

Bloomsday at Kennedy's Pub
Bloomsday at Kennedy's Pub

Sean Duffy

Thirty pubs in Dublin sold for a total of €43m last year, according to commercial real estate consultants CBRE.

Notable pubs that changed hands included Kennedy's on Westland Row - pictured during last year's Bloom's Day celebrations - and Howl at the Moon on Mount Street.

The figure was a rise on the €40m recorded in 2015, even though five fewer pubs were sold.

Demand for licenced premises in the city has risen as the economy recovers. At the height of the recession in 2010, the value of transactions involving pubs was less than €5m. "An improvement in trading conditions in Dublin is reducing the number of licensed properties that are being offered to the market for sale.

"There are now fewer instances of distressed sales in this sector of the market with a notable increase in the number of consensual pub sales over the last 12 month period in particular," said CBRE's John Ryan.

Irish Independent

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