Monday 23 September 2019

€1.6m gastro pub offered on sale and leaseback

The Leagle Eagle gastro pub near the Four Courts in Dublin
The Leagle Eagle gastro pub near the Four Courts in Dublin
Donal Buckley

Donal Buckley

The Winding Stair food and beverage chain is offering a sale and leaseback deal to prospective investors for its award-winning Legal Eagle gastro pub, near the Four Courts in Dublin 7.

Robert Colleran is quoting a guide price of €1.6m for investors who in return will receive annual rent of €100,000 and a 25-year full repairing and insuring lease with five-year rent reviews.

The terraced property has a gross internal floor area of about 3,640 sq ft and has been fitted out to a high standard. Laid out as a bar and restaurant at the 1,297 sq ft ground floor, this area can seat up to 100 customers.

An additional private dining area for 40 customers is on the first floor. The 581 sq ft top floor is used as offices.

Located at Chancery Lane, near Smithfield, Dublin 7, the building extends to three storeys over basement. The Winding Stair group is headed by Brian Montague and Elaine Murphy and includes a stable of very successful restaurants and gastro pubs that includes the Winding Stair restaurant and The Woollen Mills on Dublin's North Quays, and The Washerwoman restaurant on Glasnevin Hill.

The Legal Eagle won the title of 'Best Gastro Pub' in the 2018 Irish Restaurant Awards.

Mr Colleran was also the agent for the sale of the Legal Eagle premises to the Winding Stair group. Since then, the property has been refurbished to a very high standard at a cost of about €900,000.

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