The Castle Inn Rathfarnham Sold

First Dublin Pub Sale of 2016

Dublin, 08 February 2016: – CBRE have confirmed the first Dublin pub sale of 2016 with the announcement that The Castle Inn, Rathfarnham, Dublin 14 has changed hands in a private treaty deal. The property was sold on the instructions of David O’Connor, BDO, Receiver.

The Castle Inn is located in the heart of Rathfarnham Village which is a densely populated residential suburb of south Dublin which along with adjoining suburbs of Rathgar, Templeogue and Churchtown has a population in excess of 77,000 people.

The property was completely rebuilt in recent years and extends to 447 sq m of accommodation, comprising a split level ground floor and mezzanine lounge bar with a separate public bar. On the first floor there is a further lounge bar / restaurant and catering kitchen. In the basement there is an extensive cellar with beer cold room.

According to selling agent John Ryan of CBRE the sale of The Castle Inn (which had not traded for several months) offered not only a ready to go opportunity to re-establish a licensed premises business but also had the potential for alternative retail or office uses. Stephen McCarthy of Space Property Group acted for the purchaser who has not been identified.

John Ryan would not be drawn on the price achieved but market sources believe a price close to the asking price of €700,000 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.