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Sunday 21 September 2014

Top south Dublin bar up for sale asking nearly €3m

Published 03/07/2014 | 02:30

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The Sandyford House in Dublin which is on the market for some €2.75m.
The Sandyford House in Dublin which is on the market for some €2.75m.

ONE of the top pubs in south Dublin has been put up for sale with an asking price of nearly €3m.

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Pub and hotel specialists Morrisseys have been retained to sell the Sandyford House in the village of the same name. The hostelry is on the market with a guide price of some €2.75m.

Sandyford House, 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”.

Numerous pubs have been put on the market in recent months as both receivers and long term owners look to cash in on the recovering Irish economy.

Perhaps the highest profile pubs to come on the market in recent weeks has been the Capital Bars portfolio, which 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.

The deadline for bids for the portfolio is tomorrow. 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.

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