While JD Wetherspoon’s expansion of its Irish empire continues apace with the opening of an 89-bedroom hotel and pub in Dublin and plans for two new pubs, in Waterford and Galway respectively, the UK pub group’s renowned focus on the bottom line would appear to be as strong as ever.
Just weeks after it was reported to have invested €27.4 million on developing the Keavan’s Port pub and hotel on the site of eight Georgian townhouses and a former chapel it had acquired for €6 million, the company has instructed Savills to find a buyer for The Three Tun Tavern.
Located on the corner of Temple road and Carysfort Avenue in the south Dublin village of Blackrock, the premises is being offered to the market as a going concern or with full vacant possession at a guide price of €2.5 million.
While the pub occupies a high-profile position within and presented in excellent condition throughout having recently undergone a full programme of refurbishment, its relatively-close proximity (3km) to another of JD Wetherspoon’s southside pubs, the Forty Foot in Dún Laoghaire, is understood to have informed its decision to sell.
The Three Tun Tavern was the first of JD Wetherspoon’s venues in the Republic of Ireland. Acquired by UK pub group for €1.5 million in December 2013, the former Tonic Bar underwent a €1.5 million refurbishment before opening for business under its new name in 2014.
The Three Tun Tavern comprises a large open-plan bar and restaurant dining area extending to 498sq m at ground-floor level complemented by a beer garden.
The first floor of the premises extends to 385sq m and consists of a kitchen, storerooms, office, and customers’ toilet facilities. The pub site area extends to 0.08 acres.
Stephen McCarthy of Savills is guiding a price of €2.5 million.