Intense competition is expected when O’Connell’s Bar in Eyre Square goes for sale by tender in the coming weeks. The pub is expected to fetch €10 million. Mr Ray Rooney of Rooney Auctioneers, who is responsible for the sale of the Eyre Square property, told the Galway Independent that at least 40 national and international individuals and groups, had expressed interest in purchasing the prime retail premises, which is due to go on sale in between six to eight weeks.Mr Rooney said that legal matters regarding the property needed to be finalised before going for tender and this had delayed the sale of the property somewhat.While Mr Rooney would not speculate as to how much the property might sell for, hesuggested that it would “certainly realise its value”. Its value is undoubtedly increased by the enhancement of Eyre Square, which is due to becompleted by next spring.One of the city’s oldest pubs, O’Connell’s hit the headlines in June of this year, when it emerged that the late owner of the property, Ms Maureen O’Connell, had bequeathed it to the St Vincent de Paul in her will.Ms O’Connell died seven years ago, but the sale of the four-storey premises, which also includes a 15-bedroom former guesthouse, was delayed due to legal issues.Ms O’Connell ran the bar for many years until her death seven years ago and it has been leased out since.Originally a grocery store and small bar, it was converted to a full bar in the 1970s. It has since become an extremely popular bar for citybusiness people and locals.Galway’s St Vincent de Paul’s spokesperson was unavailable tocomment at the time of going to press.

Galway Independent

Posted: 09|29|05 at 9:20 am. Filed under: Property & Land.