Monday 15 July 2019

Sale of famous Kestrel pub sees strong interest

Landmark: The Kestrel is located at the Walkinstown Roundabout
Landmark: The Kestrel is located at the Walkinstown Roundabout
Ronald Quinlan

Ronald Quinlan

As the new year gets underway, several parties are understood to be in the race to acquire the landmark Kestrel licensed premises in Walkinstown, Dublin 12.

Located at the famous Walkinstown Roundabout, the Kestrel enjoys the benefit of a thriving trade drawn from Walkinstown itself, and the surrounding suburbs of Kimmage, Terenure, Rathfarnham, Knocklyon, Tallaght and Clondalkin.

The property, which came to the market last October at a guide price in excess of €1.8m, also enjoys valuable rental income from the adjoining investment which is let to Ladbrokes. The well-known bookmaker occupies the premises under a 20-year lease which is currently producing €24,000 plus VAT per annum.

The Kestrel is well-appointed internally and has a traditional layout. Externally, the premises has ample off-street car parking.

In June 2015, the pub's current owner secured planning permission for the development of an exterior, sheltered beer garden and smoking area.

Commenting on the opportunity the Kestrel provides for the prospective purchaser, Rory Browne of pub and hotel specialists, Morrissey's says: "This represents an ideal opportunity to acquire a substantial and well-known suburban licensed premises complemented by function accommodation and investment income.

"The Kestrel provides the purchaser with the potential to further develop and enhance the property's existing high volume food and beverage business."

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