Business Irish

Tuesday 20 March 2018

No cheers as four pubs fail to reach their price

Four pubs in Limerick, Mullingar, Cork and Cahir failed to sell at recent auctions.

The Mullingar pub which came with substantial investment and development potential on a corner site was withdrawn when the bidding reached €540,000. The agents, Savills, have a €750,000 reserve on the property and are in negotiations with the highest bidder.

In Co Limerick, Mick McCoys Bar, with a restaurant, office and residential accommodation was withdrawn after only one bid of €500,000. Auctioneer Charles O'Brien had been guiding €800,000.

In Cahir, Co Tipperary, The Abbey Tavern on Abbey St, with four overhead apartments had a €425,000 guide price.

In Cork the Lakelands Bar, in the Mahon area was withdrawn at €475,000. The agents Downing Commercial had guided €800,000 for the 10,000sq ft pub on a large site.

Irish Independent

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