Morrissey Lisney's annual review of the Dublin pub market has revealed that the agency's outlook for the market this year is positive.
The Irish Independent quotes Morrissey Lisney director Tony Morrissey as saying, "We expect the improvement witnessed in access to loan finance and liquidity to continue throughout 2020, thereby further supporting purchasers' appetite to acquire premises.
"Redevelopment of pub properties and alternate use opportunities such as residential will also drive demand in certain suburban locations, while operator demand may also start to shift to established and well-populated suburban locations as purchasers become priced out of the city centre."
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Morrissey expects that the number of pub deals this year will be similar to the number of deals that took place last year. However, he does not anticipate that as many prime assets will change hands. Morrissey believes that the bulk of this year's pub deals will involve properties valued between €2 million and €4 million.
16 pubs were sold in Dublin last year, with a combined value of over €57 million, which was more than double the €23.26 million that Dublin pub sales generated in 2018.
© 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.