ONE of the largest bars and restaurants in Munster, the Wilton Bar in Cork's western suburbs, is to be sold next month in Dublin at public auction, with a guide price of €2.5m – and that's just a quarter of what it was due to be sold for back in Celtic Tiger times.
The purpose-built bar, next to the Wilton Shopping Centre and the Cork University Hospital, is owned by the Peters family of publicans from Co Meath, who developed it 28 years ago, for a then-headline-making cost of £1m.
It's noted for a very substantial turnover, especially from its food and carvery business.
The two-storey 10,000 sq ft Wilton Bar opened in 1991, and by the early 2000s the Peters family also owned the Viscount Bar in nearby Bishopstown, and Rosies in satellite town Carrigaline, and is the last Cork pub to have remained in their ownership, up until now.
Their trio of Cork bars were run by Patrick Peters, who died in 2001, and at one stage were for sale for a combined €14m.
Subsequently in 2007, at the economy's peak, the Wilton Bar itself was briefly on the market, for a then-reported €10 million.
Now, selling agents Lisneys in Cork, incorporating licensed sales specialists Morrisey's of Dublin, are to offer The Wilton Bar by public auction on October 10, with a €2.5m guide.