Landmark Leeson Lounge For Sale
Dublin, June 2019 – CBRE have confirmed their instructions to offer The Leeson Lounge, 147/148 Leeson Street Upper, Dublin 4 to the market for sale by private treaty.
The Leeson Lounge is a well-known and popular licensed premises which has been in the ownership of the Morrissey Family for over 40 years. The property was acquired by the late Paddy Morrissey in 1978 and is well known in GAA circles as Mr Morrissey was a keen hurling fan and supporter of his native Kilkenny. As a result, The Leeson Lounge became a mecca on big match days for all GAA and sporting fans.
The property occupies a prominent trading position on Leeson Street Upper, a busy main thoroughfare which links Dublin City Centre with many densely populated and affluent southside suburbs including Donnybrook, Ballsbridge, Ranelagh and Sandymount. It is also the principal Dublin to Wexford (N11) road. Records show that a licensed-premises / grocery shop has traded from this location for approximately 200 years.
The property is located beside the Clayton Burlington Hotel and is within walking distance of Aviva Stadium and the RDS Showgrounds at Ballsbridge. Importantly, the property is convenient to the Central Business District office area and to the many new large office developments located within the immediate vicinity. The property is also a short stroll to St Stephen’s Green and to Grafton Street, the premier shopping precinct of Dublin.
The area is well served by public transport with several bus routes travelling along Leeson Street Upper while the LUAS at Charlemont is a five-minute walk away.
The Leeson Lounge is a four-story over basement licensed premises with extensive road frontage to Leeson Street Upper. The part red-brick traditional style premises, a Protected Structure, has feature bay windows. The accommodation extends to c. 502 sq m and briefly comprises ground floor lounge bar and customer toilets and a basement cellar with keg store and cold room. The upper three floors comprise part residential accommodation and part storage.
The ground floor is laid out to provide comfortable lounge bar facilities fitted with a feature herringbone wood flooring. Internally there is access to the basement cellar via a staircase. Deliveries are via delivery grate access from Leeson Street Upper. Outside there is a south facing seating area.
The upper floors comprise three residential units with independent street access comprising a one bed apartment and two, two-bedroom apartments. The remaining rooms located on the upper floors are accessed from the bar area and are currently unused. The upper floors offer refurbishment and redevelopment opportunities.
The sale of The Leeson Lounge offers the discerning publican a once in a lifetime opportunity to acquire a well-located, landmark licensed premises with considerable business potential.
At present, The Leeson Lounge has become a destination music venue renowned for its Blues / Jazz / Blue Grass music and intimate atmosphere. Musicians such as the well-known Paul Brady, Eleanor McEvoy, Gavin Povey and Wilko Johnson of Dr Feelgood have performed there.
John Ryan further added that the location of the property coupled with the current demand for city centre licensed premises and refurbishment / redevelopment possibilities would be an opportunity many publicans would not like to miss. The property offers significant business potential to grow the existing turnover in line with the continuing development and popularity of the area.
Offers in excess of €1.75m are being sought for the property.
CBRE Group, Inc. (NYSE:CBRE), 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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 150 employees, we work with occupiers, investors and developers of office, industrial and logistics, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie