According to commercial property consultancy company CBRE, the average price of a pub in Dublin rose 64% from €1,020,000 in 2017 to approximately €1,678,000 in 2018.
As reported by The Irish Independent, the figure was calculated based on the 19 pubs sales recorded in the capital in 2018. The number of pubs sold in Dublin last year was down 21% from 24 in 2017.
"Quality Rather Than Quantity"
John Ryan of CBRE commented, "For the Dublin licensed property market, 2018 will be remembered as a year of quality rather than quantity.
"Buoyed by continuously improving economic conditions, it was considered that 2018 would be a perfect storm when publicans at retirement age would put their properties on the market and those with expansion strategies would have the finances to buy. However, it wasn't to be."
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.