Cork pub group looking to reinvest sale of popular pub into 'bigger and better' venues in city

The pub is up for sale, along with nine overhead apartments, for €2m.
Cork pub group looking to reinvest sale of popular pub into 'bigger and better' venues in city

Speaking to The Echo co-owner Sean McCarthy said it was always part of the group’s five and ten year plan to sell the building and reinvest the proceeds of the sale into their other businesses. Pic; Larry Cummins

The owners of the popular pub Paddy the Farmers are selling the property to reinvest in their other Cork businesses including Tequila Jacks, Soho and East Village.

The pub is up for sale, along with nine overhead apartments, for €2m. The property is being sold by Savills property agents.

Speaking to The Echo, co-owner Sean McCarthy said it was always part of the group’s five and ten-year plan to sell the building and reinvest the proceeds of the sale into their other businesses.

“We have big plans for our other venues, we want to refurbish and make them bigger and better.” 

Mr McCarthy said the plan had actually been to sell the property pre-covid, but the pandemic brought their plans to a standstill.

Paddy the Farmers Savills investment bar and nine apartments
Paddy the Farmers Savills investment bar and nine apartments

The businessman also said the nine overhead apartments have been on sale since last October and it was following advice that the group made the decision to sell the overall building as a more attractive package.

“The nine apartments are in high demand, they are rarely vacant. Its in a great place, location, location, location.” 

Paddy the Farmers intends to remain operational with a 15 year lease included in the terms of the proposed sale along with a option to break the lease after five years.

Paddy the Farmers Savills investment bar and nine apartments
Paddy the Farmers Savills investment bar and nine apartments

In terms of business, Mr McCarthy said the premises is doing well.

“Things were slow at the start after Covid related restrictions were lifted but since St Patrick’s Day, there has been a huge uplift, private and corporate parties are back, things are really back to normal.” 

The building is located at the corner of Southern Road and Old Blackrock Road and generates a combined gross annual income of €171,796.

Property Agent, Chris O’Callaghan said Savills are delighted to introduce this “high profile city centre investment” to the market. Savills stated Paddy the Farmers public house extends to approximately 2,250 sq ft and is fitted to a high standard internally with fixed and freestanding furniture, customer toilets, commercial kitchen and ancillary staff and stock accommodation.

“The nine overhead apartments include seven two-bedroom units and two one-bedroom units. Five of these apartments are accessed from Southern Road, while the remaining four units are located above the pub and are accessed from Old Blackrock Road.” 

The location is central to a number of high-volume entities such as the South Infirmary Victoria University Hospital, Cork College of Future Education and Training, Cork City Hall and Anglesea Garda Station.

As well as this, the property is within walking distance of a number of key residential areas including Blackrock Road, Boreenmanna Road, Douglas Road, Friars Walk and Deerpark.

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