Small drop in Dublin pub sales

Fewer bars were sold in the Dublin area last year than in 1998. The latest survey by Morrissey's shows 45 pubs (only 5.8 per cent of the total number) changed hands at a value of £86.89 million, compared with 54 premises costing £89.9 million in 1998. Highlight of the year was the acquisition by the Break for the Border Group of The George, Bad Bobs, Zanzibar, O'Dwyers, The Rathmines and Trinity Plaza from the O'Dwyer brothers for £14.63 million. The group now has 10 businesses in the city. The highest price achieved for a pub last year was just under £5 million. It was paid for The Four Provinces in Ranelagh, Dublin 6. Morrisey's calculated that those who bought Dublin pubs last year paid between 2.25 and 3.25 times the net turnover.