No cheers as four pubs fail to reach their price
Published 30/11/2011 | 05:00
Four pubs in Limerick, Mullingar, Cork and Cahir failed to sell at recent auctions.
The Mullingar pub which came with substantial investment and development potential on a corner site was withdrawn when the bidding reached €540,000. The agents, Savills, have a €750,000 reserve on the property and are in negotiations with the highest bidder.
In Co Limerick, Mick McCoys Bar, with a restaurant, office and residential accommodation was withdrawn after only one bid of €500,000. Auctioneer Charles O'Brien had been guiding €800,000.
In Cahir, Co Tipperary, The Abbey Tavern on Abbey St, with four overhead apartments had a €425,000 guide price.
In Cork the Lakelands Bar, in the Mahon area was withdrawn at €475,000. The agents Downing Commercial had guided €800,000 for the 10,000sq ft pub on a large site.