Leasehold interest in city centre restaurant

A price of around £300,000 is likely to be achieved at auction for the leasehold interest in The Bistro restaurant at Castle Market, Dublin 2 - the short Victorian pedestrian street linking the Powerscourt Townhouse Centre and Drury Street.

McNally Handy is handling the sale, which is likely to attract considerable interest because of the current boom in the restaurant sector. The two-storey premises can seat about 80 people and at least half a dozen more tables outside when the weather permits. The basement houses the food preparation area. The two interconnecting buildings are held on 35-year leases at a combined rent of £27,600 per annum.

McNally Handy points out that the business is not being sold as a going concern. "What we are selling are two leases with the benefit of restaurant use."

The Bistro is in an area with a growing number of good restaurants and coffee shops. It is located beside Cooke's, which caters for the upper end of the market and is around the corner from one of Dublin's best Asian restaurants, the Kyber, on South William Street. There are four car-parks in the immediate vicinity, two on Drury Street, one on Trinity Street and another one which links into Brown Thomas.