Cheers to trophy bars

TWO top Munster bars, one in Cork City’s suburbs, the other in East Cork, have come up for sale for a receiver, with best bids sought by the end of July.

Described as trophy bars, and trading very well, they are the 5,000 sq ft McDaid’s in Midleton, near the Jameson Distillery Visitor Centre, and the even larger, c 7,300 sq ft Flannery’s, a lynch-pin suburban bar in Cork city, near Wilton, UCC, major hospitals. Flannery’s is in a densely populated setting serving Wilton, Glasheen and Bishopstown, an area which has seen a significant loss of bars in the past decade.

Associated with publican John Gaffney and other investors, the two bars are now being sold for receiver Stephen Tennant of Grant Thornton, via agent Cearbhall Behan of Behan Irwin Gosling, and are likely to attract separate buyers.

Guide price for Flannery’s is €750,000, and McDaid’s has a €600,000 guide, in advance of the best bids process.

McDaid’s is said to have been designed by celebrated English architect Augusts Welby Pugin, who did a number of churches in Ireland, and his firm and son EW Pugin are also associated with nearby Cobh Cathedral, in conjunction with other leading architects of the day. A protected structure on Street, it was originally built as two dwellings in 1852 on the instructions of Lord Midleton.

It’s a renowned, long-established bar with late-night trade, music licence and has scope to grow a food business, says Mr Behan.

Flannery’s on Glasheen Road, has 7,300 sq ft of quality premises, on a site of a third of an acre, with parking for 40 cars, plus beer garden.

“The general area is under serviced by licensed premises now, as it has also seen the loss of three large suburban licensed premises,” noted Mr Behan. He sold the Viscount, Bishopstown, to the local credit union, while the Ardmanning at the Lough was acquired by neighbouring SuperValu store owner Liam Ryan. And, Dennehy’s Bar, at Dennehy’s Cross nearest to UCC was redeveloped, with apartments and shops now replacing it.

The prime location and substantial size of these two premises should attract considerable interest — in addition to the fact that trading figures will be available to intending purchasers, stated Mr Behan.

Details: BIG, 021-4270007