Rye River Brewing Company Makes €3.33m From Sale Of Its HQ
Rye River Brewing Company has made €3.33 million from the sale of its headquarters and production facility in Celbridge, Co. Kildare.
According to The Irish Times, the private Irish investor who purchased the property will secure a net initial yield of 7.1% from the sale and leaseback of the property, at which two leases are in place.
Rye River Brewing Company, which operates its brewery at the property, occupies the property's ground floor offices and warehouse under a nine-year internal repairing and insuring lease that began in October of last year with a yearly rental rate of €176,000.
Veolia Water Technologies (Ireland) occupies offices on the property's first floor under a 10-year lease that began in January of 2018 with a yearly rental rate of €84,000.
Rye River Company Brands
Rye River Brewing Company currently employs 53 people. Its flagship brands are McGargles, Crafty Brewing Company, Grafters, Solas, Rye River and Rye River Seasonal.
© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.