£3m paid for pub in Dun Laoghaire

The Eagle House bar and restaurant at Glasthule Road, Dun Laoghaire, Co Dublin, was sold yesterday for almost £3 million after being withdrawn at a John Younge auction at £2,910,000. The buyer is understood to be Mr Tom O'Malley who owns Tolka House bar in Glasnevin. There were four bidders for the landmark bar which had a turnover of almost £1 million last year. A first-floor restaurant is let to Morels at a rent of not less than £55,000 per annum.

The selling price is the second-highest ever paid for a Dublin bar. A month ago, Mr Younge secured £3.15 million at auction for The Step Inn bar at Stepaside, Co Dublin.