McSorley’s of Ranelagh goes sale agreed
Mc Sorley’s pub in Ranelagh is reportadly close to being sold for an estimated €5.5 million to publican Noel Anderson and a group of former Irish rugby stars.
The pub has gone sale agreed after the current owners, the Murray Family put it on the market in recent months but the deal has yet to close. The Murray family have owned it since 1991.
Noel Anderson, ex chair of the Licensed Vintners Association (LVA) is said to be co-investing with ex-Ireland stars Jamie Heaslip, Sean O’Brien and Rob and Dave Kearney who already run The Bridge 1859 in Dublin 4, The Blackrock in Blackrock and Lemon and Duke just off Grafton Street.
Turnover in McSorley’s is said to be in the region of €2.5 million a year. The pub is already popular with rugby fans on match days. Aside from sport, they host pub quizzes and provide live music every Friday, as well as a late bar every Thursday, Friday and Saturday nights with DJs.
The group has outbid private equity group Attestor Capital. Attestor Capital owns the Brazen Head on Dublin’s quays and The Smith Pub Group. It also acquired Cork’s largest pub group, The Rearden’s Group for over €30 million earlier this year.
In other property news, Paddy McKillen jnr and Matt Ryan of the Press Up Hospitality Group have instructed CBRE to find a buyer for three of their Dublin pubs; Ashton’s in Clonskeagh, Thomas Rody Maher’s on Bagot Street and The Foxhunter in Lucan. The duo have a portfolio of more than 100 businesses.
