Business Irish

Friday 19 September 2014

Receiver put popular nightspots up for sale

Cafe en Seine, Howl at the Moon, The George and The Dragon, are expected fetch about €13.5m

Peter Flanagan Commercial Property Editor

Published 28/05/2014 | 02:30

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Cafe en Seine is one of the bars up for sale
Cafe en Seine is one of the bars up for sale
Cafe en Seine
The George

FOUR of the best known pubs in Dublin have been put up for sale.

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The Capital Bars portfolio, which comprises the popular nightspots Cafe en Seine, Howl at the Moon, The George and The Dragon, are expected fetch about €13.5m when they are offered by private treaty.

The pubs are being sold on the instructions of receiver Pearse Farrell of RSM Farrell Grant Sparks and Liam and Des O'Dwyer.

Cafe en Seine is on the market for €3.5m. One of the iconic Dublin bars during the boom, Cafe en Seine is seen as the flagship of the portfolio.

The premises, which extends to over 1,300 sqm, still has a "substantial" turnover and has been an integral part of the social scene of Dublin for many years. The property is held under a leasehold title.

Howl at the Moon on Mount Street Lower stretches to around 1,100 sqm. Like Cafe en Seine, the property is held freehold and offers in excess of €1.5m are being sought.

The Dragon is on South Great George's Street, close to a host of bars, restaurants and late-night entertainment venues.

The property, which extends to 743 sqm, has "extensive" ground and first-floor bar areas and offers considerable scope to develop a high-volume, high-margin business. It is for sale for around €3.5m.

Close to The Dragon on South Great Georges Street, The George is on the market for €3.5m. The well-known pub, which caters to the LGBT community, occupies an "outstanding trading position in the prime entertainment area of the city close to a host of bars, restaurants, theatres and nightclubs," say CBRE.

Irish Independent

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