The Covid-19 crisis has prompted an increasing number of publicans to call time and cash in their licences which are bring as much as EUR50,000, according to one Limerick auctioneer.
Gordon Kearney of Rooney Auctioneers stated there is now a prepared market for bar licences which are being snapped up.
” All the huge grocery store multiples who desire to offer alcohol need an existing club licence and are on the appearance out for them,” Mr Kearney stated.
The deregulation of pub licences about 20 years ago opened up the marketplace as licences can be moved for usage anywhere in the state.
” A pub licence in Dublin prior to deregulation deserved as much as EUR600,000 as you might not transfer a licence from outdoors Dublin into the City,” the Limerick auctioneer stated.
Mr Kearney stated: “We have 7 pubs on our books, 2 in the city and five in the county. Possible purchasers are looking for bars which have cooking area and dining facilities. Outside seating is a prerequisite for many who are entering the marketplace.
” One city pub we are offering, Squire McGuires in lower Cecil Street has a guide cost of EUR500,000 A multi-storey structure with workplaces and homes is increasing just throughout the street and this ought to be a big assistance to the trade of the bar which has a kitchen area.”
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