Yeah another metric, not far off if on this case either
Pubs sell for roughly 1 times turnover. Give or take.
Another metric would be circa 10 times profits, but for a pub that should be roughly 10% of turnover as well.
Now you could justify a small premium on that for a landmark pub on Camden street where trade is always likely to be good. But you’d also want to be discounting the fact that turnover is probably at the boomy end of things
You’d want to be netting 2m a year clear out of it…40k per week out of 270k turnover I couldn’t see it making anything next or near that tbh
In the likes of Ryan’s, Cassidys and devitts the only issue they have is capacity. Ques out side on busy evenings.
Yeah generally a multiple of the clear profit … 7 or 8 times the profit as much as you could pay for a pub I’d have thought…ignoring the property value…no way that property is worth 14m either unless it is part of a bigger jigsaw
They are busy about 3 hours a day for probably three days a week.
Don’t get me wrong, they make great money there.
But that’s a very frothy valuation, imo.
But sure we are only looking in from outside and guesstimating.
There could be a nice bank of land around it included in that
You might very will think that I couldn’t possibly comment.
Ah there a lot busier than that julio. Those places are absolutely printing money and the only thing hindering them is capacity.
They made close to €400k in profit in the year leading up to COVID with €220k of depreciation and interest on top of that. Who knows what they paid themselves as well.
They could well have seen some nice growth since COVID.
He better not do anything to mess it up.
I wont stand for it.
Incorrect but in any case it’s the multiple of EBITDA that is the key metric used these days
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Once they got rid of the old toasted sandwich maker, Devitts was finished for me.
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The deal is yet to be finalised and if and when it does McIntosh’s group doesnt run the establishments.
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I would recommend for Limerick fans on Sunday if you’re hanging about Flannerrys bizarrely enough is very good to watch the Sunday game.
Would the Judes thing be an issue for you too?
Their Ladies bring a real touch of class to proceedings decked out in their Navy/Blue attire.
Its a fine site if you take in the now closed Ulster Bank beside it. The Ulster Bank site is probably double the size of Devitts pub.
A great location for a hotel.
You can’t just rip up a Cathedral like Devitts and replace it with a Non Descript Hotel.
There’d be riots.
No I’ve been in it a bit since. I just preferred the old bar and owners
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Ryan’s has become truly soulless since the revamp.
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