On-trade

Capital Bars for €13-17m sale

Dublin venues Café en Seine, Howl at the Moon, The George and The Dragon – the Capital Bars portfolio – have been put on the market on the instructions of the Receiver Pearse Farrell of RSM Farrell Grant Sparks and the O’Dwyer brothers Liam and Des.

Altogether, the four currently trading properties could fetch up to €18 million through private treaty sales on a combined gross turnover of €13.5 million.

The four premises – which can be sold individually or as a package – represent the most significant sale on the Dublin market in years and all bids have to be in by July 4th.

Presently operated by Splash Hospitality, the Capital Bars flagship Café en Seine alone is expected to fetch well in excess of €3.5 million. This should not be a problem since it’s believed to have an annual turnover of over €5 million.

Offers over €1.5 million are being sought for Howl at the Moon while The George (turnover understood to be around €3.5 million) and The Dragon are seeking around €3.5 million each through CBRE.

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