Sober Lane Dublin 4 - Sold
Dublin, Aug 2016 – CBRE have confirmed that Sober Lane, located in Irishtown, Dublin 4 has changed hands in a private treaty deal.Sober Lane, which previously traded as John Clarke & Sons, is situated on Irishtown Road close to the intersection with Londonbridge Road, Dublin 4. The property is located in a densely populated and much sought after residential area which has increased in popularity due to its convenience to Grand Canal Square and to “Google-land” in and around Barrow Street. The property is also located close to Aviva Stadium which hosts many international rugby and soccer internationals annually and is also a popular concert venue. Sandymount Village is a short walk away.
Sober Lane comprises a two storey over basement licensed premises. Behind the traditional exterior lies an extensive licensed premises which extends to 494 sq m (5,300 sq ft) in total. The ground floor comprises a public bar, lounge bar and restaurant with a modern catering kitchen. In the basement there is a cellar and beer cold room while overhead there are several rooms used for storage.
The property was sold by Cork based publican Ernest Cantillon and was acquired by veteran Dublin publican Jim Stafford along with his son Will and daughter Emilene, who also owns and operates the award winning Merry’s Gastropub in Dungarvan, Co Waterford. Merry’s was recently awarded Munster Gastro Pub 2016 by the Restaurant Association of Ireland. It is understood that the Stafford family intend to refurbish the premises to a high standard with an emphasis on high quality food, craft beers and spirits.
According to John Ryan of CBRE the sale of Sober Lane reflects the strengthening of the suburban pub market with a growing sense of confidence returning to the licensed trade in general. The sale of Sober Lane attracted interest from a diverse range of publicans and restauranteurs who recognized the business development potential of the premises.
John Ryan would not disclose the sale price but market sources understand that a price close to €1.2m was achieved for the property.
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.