Dublin Pubs Market To See Significant Expansion In 2018
Official State statistics have revealed that sales in the Irish bars market increased 5.5% in 2017, with figures rising far higher in the Dublin market alone.
According to The Irish Times, the Licensed Vintners Association estimates that growth in the capital's bar sales market was in the "high single digits", with the price of Dublin pubs skyrocketing and everyone from boomtime property developers to US private equity houses becoming embroiled in the sector.
Director of CBRE's hotel and pub division John Ryan commented, "Some of the big names from the last boom, such as Charlie Chawke and Louis Fitzgerald, are still there. But now there is a new, younger cohort. The sector has its mojo back."
At present, the most active pub investors in Dublin are Press Up Entertainment, the Mercantile Group and NolaClan. In 2018, Press Up is expected to open up to nine new venues across the capital, while last week it was announced that developer Jerry Conlan has joined forces with Alan Clancy of NolaClan to further expand the group's operations in Dublin, where it already runs a number of well-known pubs, including 37 Dawson Street, Xico, The Oak and 9 Below.
Meanwhile, the Mercantile Group, which currently operates seven venues and recently completed a €4 million revamp of Opium on Wexford Street, has announced plans to invest €30 million in a group-wide refurbishment programme.