Iconic Hawthorn Bar in Cork’s Lough Area Hits teh Market for €1.5 Million
A well-known bar and lounge situated beside The Lough, a protected wildlife reserve in Cork, Ireland, has been listed for sale with an asking price of €1.5 million. The Hawthorn Bar, owned by the Coakley family since 1981, offers a unique investment opportunity due to its prime location and established business.
The property, boasting 7,500 sq ft, includes a first-floor restaurant and outdoor seating areas, capitalizing on the scenic views and heavy foot traffic around The Lough. Estate agent Darragh Taaffe of Keane Mahony Smith describes it as a “once in a lifetime” opportunity, highlighting the untapped potential for al fresco dining and beverage service.
Prime Location and Untapped Potential
The hawthorn Bar’s location is a key selling point. Situated on the perimeter of The Lough, a four-hectare spring-fed lake, the bar benefits from a constant stream of visitors, including walkers, runners, families, and tourists. The Lough is home to diverse wildlife,including swans,geese,and various fish species,attracting nature enthusiasts and providing a picturesque backdrop for the bar.
According to a 2023 report by Fáilte Ireland, food and drink account for 35% of tourist spending, highlighting the potential for growth in the hospitality sector. The Hawthorn Bar, with its under-utilized outdoor spaces, is well-positioned to capitalize on this trend.
Did You Know? The Lough is a designated Statutory Nature Reserve, protecting its unique ecosystem and wildlife.
The current owners, Patrick and Catherine Coakley, are selling the business as a going concern as they plan to retire. They have seen significant changes in the area, including the growth of University College Cork (UCC) from 1,700 to 23,000 students, increasing the potential customer base for the bar.
Expansion and Investment Opportunities
The hawthorn Bar has evolved as its establishment in 1961 by Patrick Coakley’s father. Architect Harry Wallace designed the current structure, which includes a leased restaurant space. The sale presents an opportunity for a new owner to further develop the business, particularly by enhancing the outdoor areas and capitalizing on the growing demand for outdoor hospitality.
Keane Mahony Smith emphasizes the potential for a “forward-thinking operator” to dramatically increase turnover.The property’s prominent frontage on Hartland’s Avenue and direct pedestrian access from the Lough make it ideally suited to attract both local and tourist customers.
Pro Tip: Consider incorporating local produce and craft beverages into the menu to attract a wider customer base and support local businesses.
The existing first-floor restaurant, The Royal Palace, is held on a 25-year lease from 2010 to 2035, providing a steady income stream for the new owner. The bar itself is fully licensed and planning compliant, ensuring a smooth transition for the new operator.
Financial Details and Future Prospects
The €1.5 million asking price reflects the Hawthorn Bar’s prime location, established business, and potential for future growth. The sale includes the stock, barrels, and fixtures, making it a turnkey operation for a new owner. The agents highlight the “unrivalled setting” and “significant growth potential” as key investment drivers.
According to a 2024 report by the Licensed Vintners Association, pubs that offer a diverse range of services, including food, live music, and outdoor seating, are experiencing the strongest growth. The Hawthorn Bar is well-positioned to benefit from this trend, given its existing infrastructure and prime location.
| Metric | Value |
|---|---|
| Asking Price | €1.5 Million |
| Size | 7,500 sq ft |
| Restaurant Lease | 25 years (from 2010) |
| Ownership | Coakley Family since 1981 |
The sale of the Hawthorn Bar represents a significant opportunity to acquire a landmark hospitality venue in a highly desirable location. with its established customer base, untapped potential, and scenic setting, the bar is poised for continued success under new ownership.
What innovative ideas could a new owner bring to The Hawthorn Bar to enhance its appeal? How can the business further integrate with the local community and capitalize on its unique location?
Evergreen Insights: The Enduring Appeal of Cork’s Lough Area
The Lough in Cork has long been a focal point for recreation and leisure. Its origins trace back to a glacial lake, and over centuries, it has evolved into a vital urban green space.The area’s popularity surged in the late 19th and early 20th centuries with the development of Victorian-era promenades and recreational facilities.
Today, The Lough continues to serve as a crucial habitat for migratory birds and local wildlife, attracting birdwatchers and nature enthusiasts year-round.The surrounding area has seen significant residential and commercial development, further enhancing the value of properties like The Hawthorn Bar that benefit from its proximity.
The ongoing investment in Cork’s tourism infrastructure, including improved walking and cycling trails, ensures that The Lough will remain a popular destination for both locals and visitors, making businesses in the area attractive investment opportunities.
Frequently Asked Questions About The Hawthorn Bar Sale
- What is included in the sale of The Hawthorn Bar?
- The sale includes the property, the bar business as a going concern, all fixtures and fittings, stock, and the benefit of the existing restaurant lease.
- Why are the current owners selling The Hawthorn Bar?
- The current owners, Patrick and Catherine Coakley, are retiring after many years of triumphant operation.
- What is the potential for growth at The Hawthorn Bar?
- The Hawthorn Bar has significant potential for growth, particularly by enhancing the outdoor areas and capitalizing on the demand for al fresco dining and beverages.
- What is the current lease agreement for the restaurant space?
- The restaurant space is currently leased to the Royal Palace on a 25-year lease from 2010 to 2035.
- Where can I find more details about The Hawthorn Bar sale?
- Interested parties can contact Darragh Taaffe of Keane Mahony Smith at 021 4270311 or visit keanemahonysmith.ie.
- What makes The Hawthorn bar a unique investment opportunity?
- The Hawthorn Bar’s unique location on the edge of Cork’s Lough, its established business, and its potential for growth make it a rare and attractive investment opportunity.
Disclaimer: This article provides general information about a real estate listing and shoudl not be considered financial advice. Consult with a qualified professional before making any investment decisions.
Source: Information derived from original reporting by the Irish Examiner.
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