Dublin,
05
April
2017
|
10:00
Europe/Dublin

Well Known Restaurant, Bar And Holiday Home Complex For Sale In The Sunny South East

Dublin, April 2017 – Joint agents CBRE and REA Spratt have confirmed their instructions to offer the well-known and landmark An Seanachai, Bar & Restaurant (together with 12 purpose built holiday homes) located at Pulla Cross, Dungarvan, Co. Waterford to the market for sale by private treaty.

An Seanachai is a long established traditional thatched roof pub of character which dates back to c. 1845. The property is located just off the main Waterford to Cork N25 road just outside Dungarvan, Co. Waterford. The property has retained many of its original features including flagstone floors, open turf fires, thatched roof and traditional bar counter and fittings.

The original bar has been extended to provide restaurant and catering facilities for 80 covers. Outside there is a partially covered courtyard providing additional seating facilities during the summer months.

In addition to the pub there are twelve purpose built 4 star, fully furnished, luxury holiday homes comprising two clusters of six houses each. Accommodation in the two storey homes extends to 131 sq m and comprises ground floor living room, kitchen/dining room, utility room, bathroom and master bedroom. On the first floor there is a double ensuite bedroom and twin bedroom. Each home has its own private patio area and can accommodate up to six people.

Between the bar, restaurant and holiday homes there is a small development site (c. 229 sq m) offering a further development opportunity to enhance the entire development such as a heritage centre, craft shop or cookery school (subject to the necessary planning permission).

According to joint selling agents John Ryan of CBRE and Eamonn Spratt of REA Spratt, the sale of An Seanachai, Pub & Restaurant and twelve holiday homes offers an exceptional opportunity to acquire a landmark hospitality business. The property is located in a very scenic and popular tourist area which is an ideal base to explore the "Sunny South East" with its magnificent beaches and tourist amenities.

The property is being offered in one or more lots. Lot 1: The Entire; Lot 2, An Seanachai, Bar & Restaurant; Lot 3: Twelve holiday homes (which can be sold on an individual basis).

By offering the property in various lots allows maximum flexibility to potential purchasers. The twelve holiday homes are available as a single complete portfolio of holiday homes or can be sold individually.

The bar and restaurant was trading until recently and a satisfactory level of turnover was generated from the business. However, according to the joint selling agents, there is also ample scope to reinstate, improve, expand and develop the business levels and exploit the key selling points of the business.

Offers in excess of €450,000 are being sought for An Seanachai, Pub and Restaurant, while offers in excess of €95,000 each are being sought for the twelve holiday homes.

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.