Owners of popular Galway city nightclubs Electric Garden and Halo consider sale

Venues formerly known as Central Park carry value of €3.5m - €5m

Project Abbeygate – the Electric Garden and Halo nightclubs in Galway

Project Abbeygate – the Electric Garden and Halo nightclubs in Galway

 

Galway nightclubs Electric Garden and Halo – known to older clubbers as Central Park (CPs) – could be about to hit the market as the fallout from coronavirus continues to wreak havoc on the nightlife sector.

After 30 successful years in business, it’s understood that the owners of the landmark venue are looking at a potential exit strategy following 18 months of public health restrictions. Only last week new closing hours of midnight were imposed on the late-night industry.

Should the well-known property come for sale, market sources say they expect it to guide at a price of between €3.5 million and €5 million. It is understood that agents TWM and Cushman & Wakefield’s Galway office are preparing the property for sale.

A multi-purpose venue, the premises comprises a bar, restaurant, arcade and club and has been home for many years to music and arts festivals, club nights, live shows, and food and cocktail events.

Another factor in a potential decision to sell is the nightclubs’ close proximity to a site that is already on the market; when combined, the site and the properties provide an opportunity for a major city centre development play.

Nightclubs

Electric Garden and Halo sit on a large central Galway site extending to 0.2 hectares (0.5 acres) and comprises a floor area of 2,028sq m (43,572sq ft) over a number of levels. It has significant frontage to Abbeygate Street Upper, comprising all or part of number of mid-terrace three storey over basement commercial buildings. As well as housing nightclub areas, these buildings also include retail and apartment accommodation. The site is located just a short distance from the city’s main retail thoroughfare Shop Street as well as Eyre Square.

The property has been developed over the years and extended into the large regular-shaped rear site with significant two- and three-storey structures, constructed to form two open-plan nightclubs, beer gardens, a restaurant and covered outside areas together with ancillary service accommodation that includes storage, toilets, cold rooms and office space.

Development site

The property has development potential given its location within Galway city centre. The location and zoning could suit a number of alternative uses including retail, hotel, office residential or student accommodation subject to planning permission.

It could also be developed in conjunction with the extensive An Post property that is now on the market. The combined properties would be one of the largest city centre sites to become available in Galway in recent years.

Earlier this year Cushman & Wakefield sought premium rental bids by competitive tender to redevelop the the 0.2-hectare (0.7-acre) site, formerly an An Post post office and garage space. The site is zoned city centre under the Galway City Development Plan.