Top Dublin bar fetches close to €2.5m after sale
Published 19/04/2015 | 02:30
One of the best known pubs in Dublin has become the latest to be taken over by serial publicans Stephen Cooney and Brian O'Malley, in a deal worth an estimated €2.5m.
The duo have bought Solas on Wexford Street in Dublin 2 from Bernard and Joan Molloy.
The deal adds Solas to a stable that already includes the likes of The Bath and The Old Spot in Dublin 4, as well as the recently acquired Leopardstown Inn.
CBRE, who the selling agents, confirmed the deal. Terms of the sale were not released but industry sources believe the price to have been in the region of €2.5m.
Mr and Ms Molloy had successfully run the business for the past 13 years.
Solas Bar occupies an excellent trading location on Wexford Street in the heart of one of the premier entertainment areas of Dublin and where there is a cluster of other bars, nightclubs and restaurants which gives the area its unique vibe.
The Wexford Street / Camden Street area has, as a result, become a popular rendezvous point and mecca for Dublin's night life.
The four storey pub is fitted out in a contemporary style and provides lounge bar facilities including a first floor smoking terrace and are said to have enjoyed a "satisfactory" level of food and drink turnover.
Sunday Indo Business