Rebel’s E2.1m top up

Tommy Barker

Latest to the stable is in Mahon’s Lakelands Bar, acquired last week for E2.1 million. It is part of an on-going acquisition strategy, with four more Cork city and suburban bars/nightclubs in the purchase pipeline, according to Tom Scriven of the family-controlled group with over a dozen premises in hand.

Considerable further development of the Lakelands bar property in the Mahon suburbs is planned, with negotiations advanced on acquiring further adjoining adjoiing property there for a mixed use scheme, Mr Scriven indicated. The Lakelands bar, just one of two pubs in the 12,000 population-strong Mahon area, was sold by Finbarr and Yvonne Warren, in a deal negotiated by estate agent Kathleen O’Shea. Trading well, it has up to 6,000 sq ft of licensed area and the property has considerable further potential, according to purchaser Tom Scriven. In all, up to E15 million worth of bar buys are coming through in the coming weeks, says the Rebel bar group frontman.