Kennedys Of Drumcondra Sold

Dublin, 23 May 2016 – CBRE have confirmed the sale of the well-known licensed premises, Kennedys of Drumcondra. Located on the busy Drumcondra Road, Kennedys is a landmark licensed premises for commuters heading to and from the airport with its unique and distinctive green tiled façade. The property, which extends to over 655 sq m comprises a traditional style public bar with superb terrazzo flooring and a comfortable lounge bar with access to a rear smoking area. In addition, there is ample keg and bottle storage areas which also offer considerable expansion possibilities.

The property is located in the densely populated suburb of Drumcondra and is close to the GAA headquarters at Croke Park, one of the largest stadiums in Europe with a capacity of 82,300 people.The property was sold on behalf of the Kennedy family who have traded from the premises since 1961. Michael Kennedy is retiring after a lifetime of dedicated service to the trade.

John Ryan of CBRE would not be drawn on the price achieved but market sources understand that there was considerable interest in the property and a price close to €1.7m was achieved.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.