This represents a rise of 7.5% on the €40 million garnered in some 35 pub sales in Dublin the previous year according to CBRE Ireland’s research.
Six years ago, the sale of Dublin pubs in 2010 had been worth a mere €5 million at best.
“The number of Dublin pub properties changing hands in 2016 was down on the previous year, with 30 Dublin pubs having sold last year compared to 35 in 2015,” stated John Ryan from CBRE’s Hotel & Licensed Department, “Conversely, an improvement in trading conditions in Dublin is reducing the number of licensed properties that are being offered to the market for sale,” he continued, “There are now fewer instances of distressed sales in this sector of the market with a notable increase in the number of consensual pub sales over the last 12-month period in particular.
“While the total capital value of the Dublin pub market has remained relatively stable over the last few years, the average price achieved for Dublin pubs has continued to trend upwards. The average sale price is expected to increase further in 2017 considering that trading conditions in this sector continue to show signs of improvement”.