Value of Dublin pub sales down almost 50% in 2017 - CBRE

20 pubs changed hands in the capital last year compared to 30 in 2016

Some 20 pubs changed hands last year for over €22 million. Photograph: iStock

Some 20 pubs changed hands last year for over €22 million. Photograph: iStock

 

The value of Dublin pub sales in 2017 fell by almost 50 per cent on the previous year as the volume of activity dropped.

Figures released Wednesday by commercial property consultant CBRE show a total of 20 pubs were sold in Dublin in 2017, down from 30 sales in 2016. The value of the pubs sold last year was €22 million compared to €43 million the previous year.

CBRE’s John Ryan said the volume of transactional activity in the Dublin pub sector was disappointing but said it was “reflective of strong economic and trading conditions that have encouraged publicans to remain in business”.

“Good trading conditions boosted turnover and profitability, leading to a corresponding uplift in the value of the underlying asset, which encouraged many publicans to continue trading,” he added.

Notable properties sold in the last 12 months include Boland’s in Stillorgan which was on the market for €1.4 million, JJ Smyth’s on Aungier Street which sold for €1.4 million, and the Arc Café Bar at Liffey Valley.