Publicans return to Dublin pubs market with €51.5m in deals
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- 31 Jan 2023
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A total of 23 pubs sold in Dublin during 2022 with transactions valued at €51.5m according to a report by agents Lisney Morrisseys.
The figures reflect a sharp drop on 2021 when 30 deals transacted with a combined value of €124m.
However Tony Morrissey of Lisney says 2021 was exceptional due to deals by private equity firms, most notably the UK-based Attestor.
In contrast publicans re-emerged as the main purchasers in 2022 as private equity purchasers reduced from 37pc of deals in 2021 to only one Dublin transaction in 2022.
Mr Morrissey attributed the publican deals to “their confidence in the outlook for the trade”.
Publicans purchased half of the 2022 pubs sold and 37pc of the amount spent. This compares to 37pc of deals and 15pc of spend in 2021. Investors also increased their market share accounting for 39 of the deals and their percentage of spend rose from 5pc to 36pc in 2022.
Demand for good city premises remained strong and was illustrated through the recent sale of O’Donoghue’s Suffolk Street to Paul Clinton as well as sales of Nancy Hand’s Parkgate Street and The Flowing Tide on Middle Abbey Street, to publicans.
He was also optimistic on the outlook for 2023 as 11 Dublin licensed premises remained for sale at the end of 2022, with more to launch in Q1 2023. Read More…
