Les frères Jacques Up For Sale
Published on Jun 25 2014 9:01 AM in Restaurant
Les frères Jacques French restaurant on Dame Street in Dublin is up for sale, according to a report in today's Irish Times.
The owner Jean Jacques Caillabet is selling following his decision to retire. He bought the restaurant in 1986 following the success of his two French brasseries in Cork and Dublin. He then closed down the two brasseries to concentrate on Les freres Jacques.
The popular restaurant attracts a large business and professional crowd and is particularly popular with lawyers from the Four Courts. The sale of the restaurant is expected to have wide appeal among buyers due to Dublin City Council's reluctance to grant licences for new restaurants in the south inner city, its reputation and its prime location.
Douglas Newman Good Commercial Property's Nigel Kingston said they are seeking offers in the region of €1.2 million for the four-story, over-basement building, including the 60 seater restaurant with fixtures and fittings. The building has an overall floor area of 317.47 square metres, with the restaurant on the ground floor and mezzanine. The residential accommodation on the three upper floors is expected to generate an income of around €36,000 per year.
If a buyer does not emerge, it is planned to lease the restaurant part of the building at a rent of €55,000 per year, on payment of about €165,000 for fixtures, fittings and goodwill.