Stella was named as the best cinema in Time Out magazine’s 50 best in Ireland and the UK
Paddy McKillen Jr and his development company Oakmount are selling The Lucky Duck pub on Aungier St, Dublin 2, and have put a €2.5m price tag on the corner premises.
Its launch on the market comes a week after his launch for sale of the Stella cinema, Rathmines another of his many licensed premises, for €9.5m. While the Stella offer is a sale and leaseback which would appeal mainly to investors, The Lucky Duck is a private treaty sale which will also appeal to other publicans as well as other investors and owner occupiers. CBRE are agents on both properties.
Located between St Stephen’s Green and St Patrick’s Cathedral, Aungier Street also links Camden and Wexford streets with South Great George’s St and Temple Bar which is the city’s main entertainment area with a myriad of bars and restaurants.
It is also in an area where major property developments are in the pipeline, most notably Camden Yards on the former DIT Kevin Street campus where construction is underway on 580,000 sqft of offices and 299 apartments. The Lucky Duck is also opposite the TUD Aungier Street building which is expected to come up for redevelopment in the near future.
Mr McKillen acquired the protected structure in 2017 after it had been closed for a number of years primarily as a restoration project with the intention to offer for sale once the business was established. He undertook extensive refurbishment and opened a Victorian bar on the ground floor with cocktail bars and event spaces on two upper floors in the part four storey/part three storey over-basement protected structure.
Oakmount also undertook a major refurbishment of the Stella cinema after it too had been closed for a number of years before reopening it in 2017. Among the Stella changes were the installation of a cocktail bar on the first floor as well as a ground floor bar. It is being sold with the benefit of McKillen’s Press Up Entertainment Group as a tenant with an unexpired lease term of 20 years. The annual rent of €550,000 reflects a yield of 5.26pc.
In 2021 it was named as the best cinema in Time Out magazine’s 50 best cinemas in Ireland and the UK, and as one of the top 20 in the world’s most beautiful cinemas category,