Pub market raises some cheers at last
Published 22/09/2010 | 05:00
The pub market is attracting buying activity with the sale of the landmark Parnell Mooney pub just off O'Connell St in Dublin's city centre for around €1m.
The purchasers are Louis Broder and Edward Fitzgerald, son of well-known publican Louis Fitzgerald, who are applying for planning permission to improve the property, which has been closed for two years.
The agents on the property, Morrisseys, are also believed to be close to completing sales for some of the former Thomas Read pubs in Dublin City centre including Ron Blacks on Dawson St, for which Gaucho, a UK chain of restaurants, has agreed a deal.
The agents are bringing two other Dublin pubs and an Arklow business to the market. In Westmoreland St they are offering Cassidy's pub for sale with a €1.25m price tag. Extending to 530.2sqm, the five-storey over-basement structure has accommodated a drinking emporium at ground, basement and first-floor levels, offices at second-floor level with two separate two-bedroom apartments at third and fourth-floor levels.
Its city centre location offers potential to generate both tourism and local trade. It is being sold by receiver Kieran Wallace of KPMG and the closing date for offers is October 13.
In Dun Laoghaire local publican Arthur McKenna is selling his pub in order to retire.
Located on Wellington Street and Georges Place, just off Lower Georges Street, it is adjacent to the rear of St Michael's Hospital. Extending to 209sqm, it accommodates both a bar and a lounge.
Joint agents Vincent Finnegan Commercial and Morrissey's are quoting in excess of €1m for the going concern.
In Arklow, Co Wicklow, a price of €1.2m is being quoted for Rascals, a residential pub on Main Street.
The bar extends over two floors and comes with a covered beer garden. On the top floor of the three-storey property is a self contained two-bedroom residence. Sitting on a 507sqm site, the premises has a total floor area of 609.6sqm Morrisseys are acting on behalf of the receiver Simon Coyle of Mazars.