2014 The Best Year For Pub Sales Since The Boom
Published on Feb 12 2015 10:32 AM in Pub/Bar/Nightclub
The amount of pubs changing hands last year was more than double that of the previous year as the sales market improves.
Forty six premises changed hands in 2014, compared to just 20 in 2013. The 130 per cent increase was the busiest year for transactions in the sector since 2006, the Irish Independent reveals.
The capital value (up from €15 million to €52 million) and average sales price (€380,000 to €1.14 million) also increased greatly on the year before, showing signs of increased value in the market and stronger purchase prices.
Cities and large towns are recovering better than the provincial market, as location still remains a huge key to a successful business in the sector.
The amount of transactions is met with cautious optimism by industry experts, as there is still a surplus of supply and the majority of premises are being sold as distressed assets.