The Irish Independent says the value of Dublin pubs which changed hands in the first six months of the year reached €78m, as an increasing number of premises were sold for redevelopment.

The paper says around 18 Dublin pubs were sold in the first half of 2006 and a further five premises changed hands in July. In the same period in 2005, 17 individual pubs sales took place with a value of about €67m, while in 2004 ten pubs changed hands in the half-year with a value of €27m.

The paper quotes Tony Morrissey, of commercial property auctioneers Morrissey’s, as saying that the total value of pubs has been buoyed by the growing interest from developers in suburban pubs. Most are being redeveloped as residential projects.

Posted: 07|31|06 at 10:38 am. Filed under: Property & Land.