Complex at your service

A 12,000 sq ft Cork City centre bar and nightclub complex has come to market as part of a liquidator/bank sale, guiding €875,000.

The Newport bar, cafe and bistro complex on Paul Street Plaza, along with the long-established Mangans nightclub, is for sale by private treaty for liquidator Cormac Fitzgerald, at a price set to generate a good level of interest. Pub sources say that the business was turning over as much as €70,000 a week at peak.

The Newport was developed over a decade ago by Kerry-based owners, who bought the old, elegant House of Donegal building in a prime, pedestrian corner setting opposite the Paul Street car-park, with the Opera Lane and Half Moon Street (Apple offices) close-by.

Clocking in at about 12,000 sq ft, and with a good day trade in front (especially its outdoor plaza seating) plus Mangans behind, it’s a sizeable mix and appears in good order internally, with a customer lift in the Newport section to the front.

Auctioneers Maurice Cohalan and Rob Coughlan say it’s probably in the top six or so nightclub venues in size terms in the city.

The complex needs some freshening up, and on a visit this week it appeared that Revenue had taken most of the loose furniture, but an experienced new owner could have the place up and running for under the €1 million mark. Trading at Newport/Mangans ceased earlier this year.

Details: Cohalan Downing, 021-4277717