Tuesday 22 August 2017

Receiver seeks bids for Galway hotel and pubs

On the market: The Rock Glen Hotel in Clifden, Co Galway is expected to achieve in the region of €1m
On the market: The Rock Glen Hotel in Clifden, Co Galway is expected to achieve in the region of €1m

DONAL BUCKLEY Commercial Property Editor

Five Galway investment and licensed properties, including the Rock Glen Hotel in Clifden, are being sold in five lots and the receiver Paul McCann is hoping to achieve around €4m from the sales.

Located on the Clifden to Roundstone Road in Connemara, the most extensive of the properties is the Rock Glen Hotel which comprises a 29 en suite bedroom hotel together with bar and restaurant on an elevated 23 acre site with coastal views and a detached three-bedroom family residence.

CB Richard Ellis and joint agents Mullery Auctioneers say the property is expected to achieve in the region of €1m.

The Crane Bar on Sea Road in the heart of Galway city's entertainment district, is a short walk from the city's high street, Shop Street. The two-storey over-basement corner premises has been popular for its traditional music.

VENUE

The premises include a ground floor bar and first floor lounge/music venue and is fitted in traditional style. The premises is let on a 20 year lease from 2008. This investment is expected to sell for around €900,000 - €950,000.

On Market Street in Clifden town, J Conneely's Bar is a popular bar and nightclub and the complex includes eight overhead apartments.

The combined floor area extends to 1,900sqm and it has sea views to the rear. The property is expected to achieve in the region of €1m- €1.25m.

Adjoining J Conneely's Bar is a three-storey over basement building with a retail area of 121sqm and separate entrance to upper floors which are suitable for residential use.

The property is currently let on a short term letting and is expected to fetch in the region of €400,000.

The D'Arcy Inn is a compact bar close to many Clifden hotels. The three-storey building with seven day licence, has been closed and requires some refurbishment. The agents expect in the region of €350,000.

Paul McCann of Grant Thornton is receiver manager for the properties of local businessman J Conneely.

Irish Independent

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