McCafferty’s, an established pub chain headed up by Donegal native Declan Boyle, has completed its acquisition of The Barge on Charlemont Street, Dublin 2.
While the price paid for the premises has not been disclosed, it is understood to have secured close to the €3.75 million John Hughes of selling agent CBRE had been guiding when he offered the pub to the market on behalf of the liquidators of IBRC, Kieran Wallace and Eamonn Richardson of KPMG last May.
Before being put up for sale, The Barge had formed part of Sean Quinn’s business empire.
Located in a prominent trading position overlooking the Grand Canal at Charlemont Bridge, the Barge is arguably one of Dublin’s best-known licensed premises.
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The property is situated in an established residential and commercial area and is close to both the Harcourt Street and Wexford Street entertainment areas and the city’s core central business district.
The Charlemont Street area meanwhile has been transformed over recent years by the completion of Charlemont Square, a major urban mixed-use development. Located adjacent to The Barge, the scheme, which is anchored by online retail giant Amazon, includes some 355,000sq ft of offices, 280 apartments together with retail space.
Also adjoining The Barge is the 190-bedroom Clayton Hotel, while the nearby 193-bedroom Hilton Hotel has planning for an additional 130 rooms. The area is well served by public transport with Luas green line stops at Charlemont Street and Harcourt Street.
The Barge comprises a part two-storey/part three-storey over-basement licensed premises fitted in traditional style. It trades over three floors and extends to 360sq m (3,875sq ft). The facade is a popular product placement site with advertising throughout the year.
John Hughes of CBRE represented the vendor, Quinn Hospitality Ireland Operations Limited. Paul Doyle of Bannon represented the purchaser.
