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Former Quinn pubs on the market for total of €5.5m


The Barge in central Dublin is being sold as an investment.

The Barge in central Dublin is being sold as an investment.

The Barge in central Dublin is being sold as an investment.

TWO Dublin pubs that formed part of Sean Quinn's empire have been put on the market with a combined asking price of €5.5m.

CBRE have been retained as sellers for The Barge in Portabello and the JW Sweetman - the former Messrs Maguires - on Burgh Quay in Dublin 2.

The Barge is being offered as an investment opportunity with the tenant not affected for about €3m, while Sweetman's has a guide price of €2.5m.

The Barge overlooks the Grand Canal at Charlemont Bridge Dublin 2. The property, which is known for hosting occasional advertising displays on its gable wall, is let to The Barge Inn Ltd on a 20 year lease from April 2004 at an abated rent of €273,000 per annum.

The property comprises a part two storey and part three storey over basement licensed premises.

The accommodation comprises ground floor lounge bar, a catering kitchen, mezzanine bar, first floor bar and second floor private function room. In the basement there is a cellar and beer cold room. The premises extends to approximately 360 sq m. and is presented in good condition.

CBRE's Colm Luddy and John Ryan are handling the investment sale.

Mr Ryan said the pub will appeal to a large number of investors (both national and international) who are keen to acquire investment opportunities in the Dublin area. M r Luddy meanwhile stated that the investment is "very much underpinned by the vacant possession value and offers investors an attractive return of 8.7pc".

JW Sweetman meanwhile is available for €2.5m by private treaty.

The pub comprises ground floor bar with traditional interior.

On the first and second floors there is similar lounge bar accommodation while on the third floor there is a catering kitchen with dumb waiter to all floors. The entire extends to c.830 sq m of accommodation.

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