Buoyant pub activity brings cheers to market
Published 01/06/2011 | 05:00
Pub selling activity is continuing apace in Dublin and around the country. In Mullingar, Co Westmeath, Gilleran's public house along with adjoining properties with development potential, have come on the market with an asking price of €975,000.
Agents Savills says similar properties sold for around €4.5 million during the boom.
The properties have frontage onto both Harbour St and Friars Mill Road and the combined site area extends to 0.202 acres. The pub's ground floor extends to 278sqm and over head the residential floor area extends to 151sqm.
Adjoining to the east is 1 Friars Mill Road, a three-storey house in three apartments, adjoining Harbour Place Shopping Centre.
Vehicular access to the back yard is also available from Friars Mill Road.
Adjoining on Harbour St are two redbrick period houses each extending to 125sqm and these have planning permission for conversion to offices. The entire property also benefits from planning permission for a mixed-use scheme.
In Dublin The Kestrel pub on the landmark Walkinstown roundabout is being sold by Bank of Ireland.
Agents CB Richard Ellis are not quoting a price but experts in the pub market expect that it could achieve close to €2.5m. Located in a densely populated residential and commercial area, the premises extends to 1,100sqm on a site of 0.3 acres. Its accommodation comprises ground floor lounge bar, public bar and off license. On the first floor there is a large function room, catering kitchen, stores and offices. It also has cellar storage. Although not currently trading the property offers an immediate trading opportunity for both a dining and drinks business.
Waterford builder Gerry Keane has bought a traditional thatched lounge bar and restaurant formerly known as Murphy's pubs at Cloghernagh,Co. Waterford. His €130,000 bid was the highest at its auction but it was withdrawn at that level and Sherry FitzGerald John Rohan secured a higher price afterwards.