Land­mark Baker’s Cor­ner sold for in ex­cess of €5m

Irish Independent - Business Week - - COMMERCIAL PROPERTY - Ronald Quin­lan

The well-known Baker’s Cor­ner pub on Rochestown Av­enue in Dun Laoghaire, south county Dublin, has been ac­quired by a con­sor­tium sup­ported by lead­ing pub op­er­a­tors, the Loy­ola Group, for a fig­ure in ex­cess of €5m.

While the Loy­ola Group is a rel­a­tive new­comer to the

Ir­ish pub mar­ket, it al­ready op­er­ates a num­ber of Dublin’s fore­most venues, in­clud­ing the Leop­ard­stown Inn, The Old Spot and The Bath on Bath Av­enue, and The Jar on Wex­ford Street. The group has also re­cently ex­panded into Por­tu­gal where they op­er­ate The Cheeky Pup

Pub in Quinta do Lago.

Also in­cluded in the sale of Baker’s Cor­ner was The

Forge, an in­vest­ment prop­erty com­pris­ing three re­tail units, two of­fice units and three res­i­den­tial du­plex apart­ments with a com­bined rental in­come in ex­cess of €150,000 per an­num. The in­vest­ment prop­erty was an­chored by Paddy Power book­mak­ers who have a 20-year lease at an an­nual rent of €80,000 per an­num.

John Ryan of CBRE’s ho­tel and li­censed di­vi­sion said the sale gen­er­ated sig­nif­i­cant in­ter­est from a wide range of po­ten­tial pur­chasers in­clud­ing pub­li­cans, de­vel­op­ers and in­vestors.

The prop­erty oc­cu­pies a site area of 0.5ha (1.235 acres) in a zoned Neigh­bour­hood Cen­tre (NC) which pro­vides ad­di­tional fu­ture de­vel­op­ment op­por­tu­ni­ties.

Ryan han­dled the sale on be­half of well-known pub­li­can, John Brady, who has traded suc­cess­fully from this lo­ca­tion for over 25 years. Baker’s

Cor­ner is a very suc­cess­ful and ex­ten­sive li­censed premises which gen­er­ates a sub­stan­tial level of an­nual food, drink and off-li­cence turnover.

In­ter­est: Baker’s Cor­ner at­tracted a range of po­ten­tial pur­chasers

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