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Thursday 2 October 2014

South Dublin pub is latest to go on the market

Published 04/09/2014 | 02:30

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More than 1.3 Irish people are harmful drinkers
More than 1.3 Irish people are harmful drinkers

MORRISEYS have been retained as selling agents for a pub in Ballyfermot in the south of Dublin.

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The pub specialists have been hired to sell Fowlers at Grange Cross as a going concern.

According to the agents, this property presents an "opportunity to acquire a substantial purpose built lock-up Licensed Premises extending to about 790 sq m (8,500 sq ft).

The property comprises a public bar and lounge Bar to ground floor level together with function room on the first floor of the building.

These facilites are said to be "amply serviced by the necessary storage and service facilitates occupying a commanding corner trading position within the centre of Ballyfermot Village".

The bar is located "amidst the districts principal commercial and retailing concerns in one of Dublin's most densely populated suburbs", say Morrisseys.

Fowlers is being sold by private treaty.

The deadline for full and final offers is 3pm on Thursday September 11.

This is the latest of a string of bars and hotels that are being marketed by Morrisseys.

Last month the agents put the Sandyford House in Stepaside up for sale with an asking price of some €2.75m.

That bar which has been put on the market for sale by private treaty, is being sold on the instructions of Myles Walsh and the Walsh family. The clan has run the bar for more than a century but are now retiring from the licensed trade.

According to the selling agents, the Sandyford House would give potential buyers and opportunity to acquire a "substantial well regarded licensed premises synonymous with the area".

The pub extends to 1,231.86 sq m (4,038 sq ft) standing on a site of almost 1.2 acres.

The property faces on to the main street of the village and is one of the best known pubs and restaurants in the area. It is being sold as a going concern and Morrisseys see substantial scope to further develop what they describe as being a "lucrative" food and beverage trade. Full and final offers are due by July 17.

The Sandyford House is one a number of bars and pubs that are being offered by Morrisseys at present. Mantra in Maynooth, Co Kildare is on the market on the instructions of receiver Michael McAteer of KPMG. The nightclub has an asking price of €475,000.

The Village Inn in Clondalkin, Dublin 22 is for sale by private treaty with a guide price of €875,000. The agents say the pub is a "modern purpose built" licensed premises centrally positioned within Clondalkin Village.

On the instructions of receiver George Maloney, Swifts in Newbridge, Co Kildare can be had for €850,000. This is said to be a "substantial town centre licensed premises and night club". An adjoining commercial unit is on the market for €150,000.

Meanwhile An Goban Saor in Kildare Town is on the market for €500,000, again on the instructions of receiver George Maloney. This is a "long established traditional style licensed premises enjoying extensive enclosed beer garden accommodation".

The pub market has been ripe of late with a slew of high profile hostelries changing hands.

Last week it emerged that the Abbey Tavern in Howth had been sold for 1.3m - far in excess of the €900,000 CBRE were guiding when it was originally put on the market.

CBRE are also agents over the former Capital Bars portfolio, which is on the market for a combined €13m.

The portfolio, included Cafe En Seine on Dublin's Dawson Street as well as The George on Georges Street.

The Howl at the Moon nightclub and The Dragon Bar make up the rest of the portfolio, which is expected to be sold for between €13m and €17m.

A number of potential buyers showing interest. UK pub giant Wetherspoons is among those to have shown strong interest,.

Wetherspoons already has the former Tonic bar in Blackrock. and is known to be on the lookout for more deals.

The British company is also believed to be looking at the Church bar and restaurant at jervis Street in Dublin 1.

The former St Mary's Church was deconsecrated in the 1980s and is believed by industry watchers to have been ripe for bids for sometime, although there has been none as yet.

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