Value Of Dublin Pub Sales Dropped Nearly 50% In 2017
New data released by commercial property consultants CBRE has revealed that the value of pub sales in Dublin last year was close to 50% less than figures for 2016.
According to The Irish Times, CBRE's statistics show that the number of pubs sold in Dublin in 2017 was down to 20 from the 30 that were sold in 2016, with the value of the pubs sold dropping to €22 million last year from €43 million in 2016.
Commenting on the above figures, John Ryan of CBRE said that while the volume of transactional activity in the capital's pub sector in 2017 was disappointing, it was also "reflective of strong economic and trading conditions that have encouraged publicans to remain in business."
Additionally, Ryan asserted, "Good trading conditions boosted turnover and profitability, leading to a corresponding uplift in the value of the underlying asset, which encouraged many publicans to continue trading."