There’s lots of moving and shaking in pub ownership these days
Two of the city’s best-known pubs, Foley’s bar and McSorley’s are set to change hands, for €7m and €5.5m respectively.
Foley’s bar
According to The Irish Times, Merrion Row’s after-work institution Foley’s bar is being acquired from its current owner Seamus McEnaney by Emerald Investment, a private-equity vehicle headed by Cairn Homes co-founder Alan McIntosh. The deal is expected to close within the coming weeks and while the price has yet to be confirmed market sources are setting the number at between €6m and €7m. Either figure would mark a significant profit for McEnaney, who acquired the landmark pub for €3.3 million in 2014.
McSorley’s
Elsewhere in Ranelagh the consortium of international rugby stars (made up of Jamie Heaslip, Sean O’Brien, Rob and Dave Kearney) led by publican Noel Anderson are believed to be finalising a deal to purchase McSorley’s pub on Sandford Road in Ranelagh village for an estimated €5.5m. Back in April, The Currency reported that negotiations were underway between the group and the long-standing owner, the Murray family for the Ranelagh institution. The Irish Times is reporting that the deal between the two parties has now been finalised, and a transfer of ownership is imminent. The consortium owns some of the Southside’s most prolific hospitality businesses, including Lemon & Duke, Bridge 1859 and The Blackrock.
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