Tuesday 21 May 2019

Bray pub guides at about €1.5m ahead of auction

Chrissy D’s pub in Bray, Co Wicklow
Chrissy D’s pub in Bray, Co Wicklow
Donal Buckley

Donal Buckley

Chrissy D's pub in Bray town, Co Wicklow, is to go for auction on May 30 next with a guide price of between €1.4m and €1.6m.

The corner premises, on Vevay Road on the southside of the town, includes lounge and public bars as well as a function room, kitchen and apartment.

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Auctioneer John P Younge says that it is well located close to the Greystones roundabout, which links Wicklow's largest town with the Dublin-Wexford M11 motorway.

At ground-floor level, Chrissy D's accommodates a lounge and snug which extend to 2,146 sq ft over split levels, as well as a 706 sq ft public bar with separate access. Also located at this level is a galley kitchen, office, stores and toilets.

Its first floor accommodates a 1,245 sq ft function room and dispense bar, along with a catering kitchen and toilets. A self-contained apartment is also located at this level and its accommodation includes three bedrooms, a living room and a spiral staircase to a sun room.

At ground level outside is an 807 sq ft enclosed yard.

The vendor is DLH Investments Ltd, of which Wicklow man John Slattery is a director.

Over the last three years, both turnover and earnings (ebidta) have grown for each of the years. Ebidta rose by about one third last year, suggesting that the guide price equates to a multiple of less than 7.7 times earnings.

Chrissy D's was part of the Burge Group collection of five mainly Dublin southside pubs which were offered for sale by receivers Stephen Tennant and Paul McCann of Grant Thornton in 2014. Then agents JLL had quoted a combined €5m guide price. Some of them, including Chrissy D's, were sold separately and it fetched almost €900,000.

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