A total of 20 pubs in Dublin were sold for €69.6m in 2024, an increase from €47.3m generated from the same number of sales in 2023, according to Dublin based property company Lisney.
The number of publicly offered licensed premises in Dublin fell to 21 in 2024 from 34 in the previous year, with publicans making up 55pc of the purchasing volume.
Sales included sales of Bar Eile cornering Baggot Street and Mespil Road, Foley’s on Merrion Row, Cassidy’s on Westmoreland Street, Cassidy’s on Camden Street, McSorley’s in Ranelagh, and Devitt’s on Camden Street.
Outside of Dublin there was vigorous activity, led by JD Wetherspoon group’s sale of four premises in Cork, Galway, Waterford, and Carlow.
Factors such as retirement, business realignment, and the conclusion of the debt warehousing scheme in May 2024 impacted the pub industry, leading to some establishments becoming unviable.
Lisney anticipates continued demand for well-located city centre properties in 2025, while noting that rising staff costs may lead to decreased profitability for certain businesses.
The report shared: “We predict continued demand for city centre locations, though a softening of profitability is expected for certain businesses and trading locations. This is due to rising staff costs and increases in product prices that cannot be fully passed onto consumers. While most businesses will remain viable, operators are likely to see lower returns in 2025, which may influence decisions to sell versus hold. As a result, we anticipate a decline in demand for some suburban food-driven businesses that have had to absorb cost pressures. The trend of off-market sales is expected to persist into 2025, particularly for high-value city centre units. These sales cater to a limited but active, well-funded market, making private transactions the preference for many publicans,”
