TH Doolans up for sale for €330K, owners decided to retire

beazee

Just heard in the WLR FM news.

http://www.property.ie/commercial-property/Th-Doolans-31-32-Georges-Street-Waterford-City-Co-Waterford/124814/

Jambo

beazee wrote: »

Just heard in the WLR FM news.

http://www.property.ie/commercial-property/Th-Doolans-31-32-Georges-Street-Waterford-City-Co-Waterford/124814/

Seen that alright, according to property. ie there id 25k per annum rates then add water and waste charges.

flutered

Jambo wrote: »

Seen that alright, according to property. ie there id 25k per annum rates then add water and waste charges.

add the leckey and staff on to that, then dont forget the real nasty one called insurance, no wonder most places are finding it hard to keep going never mind making a profit.

dk1982

Is it still open while for sale does anyone know? Coming down from Dublin on Saturday and had arranged to meet people there before heading to The Reg!

Gael23

The owners are retiring so there is nothing to suggest the business is in difficulty

CardBordWindow

I wonder if you bought it would it include all the signed money which is stuck to the wall?

Dicky Pride

It's been unofficially on the market for some time now.

It's being sold as a going concern, which as a previous poster mentioned, you'd have the staff and their redundancies to worry about. Any potential buyers would be hoping that it closes in January and the redundancies are sorted by someone else.

The 25k is a balls...but there was talk of a 450k price on it a few months ago so people were probably expecting more.

7upfree

Dicky Pride wrote: »

It's been unofficially on the market for some time now.

It's being sold as a going concern, which as a previous poster mentioned, you'd have the staff and their redundancies to worry about. Any potential buyers would be hoping that it closes in January and the redundancies are sorted by someone else.

The 25k is a balls...but there was talk of a 450k price on it a few months ago so people were probably expecting more.

€25k? For rates? FFS.

Bringthethunder

Not sure they will find a buyer, place is so old there are little if any changes structurally a new owner could make to the place and the place finds it almost impossible to compete with the cheaper pubs in Ballybricken i predict an Old Stand type scenario eventually.

danjo-xx

Wetherspoons might be interested.

http://www.boards.ie/vbulletin/showthread.php?t=2057028788

Dicky Pride

Bringthethunder wrote: »

Not sure they will find a buyer, place is so old there are little if any changes structurally a new owner could make to the place and the place finds it almost impossible to compete with the cheaper pubs in Ballybricken i predict an Old Stand type scenario eventually.

There are already people sniffing around. They won't want the hassle with the current staff though.

There is massive potential with the bar...and you could tell that the Reids had somewhat given up on it in recent years. Waterford's oldest bar...very popular with tourists and was popular with food until they stopped doing it.

If the new owners market it properly...almost like a fecking museum pub...they could be onto a gold mine.

shockwave

Was a great pub once until the Reids bought it, its a total kip now to be honest and desperately needs a revamp.

thomasm

shockwave wrote: »

Was a great pub once until the Reids bought it, its a total kip now to be honest and desperately needs a revamp.

True, toilets are worse then Geoffs and that's saying something

Gardner

know 2 particular people interested in the pub but wont touch it till all ties with existing staff etc is sorted with previous owners.

just an idea on the place, would it be a good idea to remove the existing bar in the middle of the pub and open and it up a bit so more people can get in and listen to music etc?

kryogen

I wouldn't do much to the pub itself, clean it up a bit obviously, but structurally I wouldn't change too much, from what I hear of the staffing costs and the redundancies that would need to be taken care of not to mention the rates liability still due for 2013 it could be for sale a while yet

Doing proper food again would be another change Id make

Bringthethunder

Gardner wrote: »

know 2 particular people interested in the pub but wont touch it till all ties with existing staff etc is sorted with previous owners.

just an idea on the place, would it be a good idea to remove the existing bar in the middle of the pub and open and it up a bit so more people can get in and listen to music etc?

Don't think they could remove the middle bar and the wall between it and the other bar i'm pretty sure its holding the ceiling up. As someone said all ready the Reid's gave up on the place years ago just like they did with the cleaboy at least now the cleaboys new owners have made it into a decent pub

Motivator

The staff are the worst in the town.

webpal

Reminds me of my school days. Does the bok still play :eek:?

Waterfordboy13

Its a shame it closed down it was a good bar but its to expensive there, I heard it sold for €400.000 over the last few days but know one knows who bought it yet.

waterfordjs

would be good to see it open again soon!

Dicky Pride

Waterfordboy13 wrote: »

Its a shame it closed down it was a good bar but its to expensive there, I heard it sold for €400.000 over the last few days but know one knows who bought it yet.

Where do these rumours come from?!

Sully

Dicky Pride wrote: »

Where do these rumours come from?!

They got it at a bargain anyway, €400 for a pub that size. Savage.

Dicky Pride

I said I'd leave that go ;-)

AbbotSinical

Great location if someone managed it properly and got the pub grub (back to old standard of 6/7 years ago) of the business going again but will be left on the market a long time at a price of €330k. A change in music taste wouldn't go astray either, as patriotic as I am, even I got fed up of the rebel songs.

Dicky Pride

AbbotSinical wrote: »

Great location if someone managed it properly and got the pub grub (back to old standard of 6/7 years ago) of the business going again but will be left on the market a long time at a price of €330k. A change in music taste wouldn't go astray either, as patriotic as I am, even I got fed up of the rebel songs.

It won't be on the market a long time at 330k. It's going to go for more than that.

And why would they change the music policy when tourists are such a huge percentage of their customer base? What do you propose they do? Turn it into a typical waterford bar with the fcukin Jam Tarts every weekend? There's enough of those places in Waterford and they're dropping like flies.

THall04

Waterfordboy13 wrote: »

Its a shame it closed down it was a good bar but its to expensive there, I heard it sold for €400.000 over the last few days but know one knows who bought it yet.

More than one site saying it's still up for auction


http://www.property.ie/commercial-property/Th-Doolans-31-32-Georges-Street-Waterford-City-Co-Waterford/124814/

https://www.daft.ie/searchcommercial.daft?id=124814#

"FOR SALE BY PUBLIC AUCTION ON THURSDAY 6th MARCH 2014 AT 12 NOON AT SHERRY FITZGERALD JOHN ROHAN, MANOR HOUSE, CORK ROAD, WATERFORD.

Superb opportunity to acquire a long established and renowned traditional seven day licensed premises situated in the heart of Waterford city.

Occupying a prominent trading position in the city, this premises is one of Ireland's oldest hostelries said to date from the 1400's.

Accommodation c. 400 sq m comprising public bar with overhead kitchen, requisite service and storage. Offices c. 116 sq m. Beer garden c. 58 sq m to rear.

Offers excellent possibilities to further develop an existing food, beverage and entertainment trade.

We are advised the rates liability for 2013 are €24,804.02"

bullpost

I wonder if a chain like Wetherspoons would go for it? Could look really good with a bit of investment.

Dicky Pride wrote: »

It won't be on the market a long time at 330k. It's going to go for more than that.

And why would they change the music policy when tourists are such a huge percentage of their customer base? What do you propose they do? Turn it into a typical waterford bar with the fcukin Jam Tarts every weekend? There's enough of those places in Waterford and they're dropping like flies.

Dicky Pride

bullpost wrote: »

I wonder if a chain like Wetherspoons would go for it? Could look really good with a bit of investment.

Not the type of venue that weatherspoons would be interested in. The premises is protected so they wouldn't be able to do anything to it. I might be wrong about their interest, but i'd doubt it. Even people interested in it anyway.

Max Powers

AbbotSinical wrote: »

Great location if someone managed it properly and got the pub grub (back to old standard of 6/7 years ago) of the business going again but will be left on the market a long time at a price of €330k. A change in music taste wouldn't go astray either, as patriotic as I am, even I got fed up of the rebel songs.

to be fair, the man who owned it was in the business for 50 (guess) years and he probably was managing it properly. the (main)problem is getting people off their as$es from their locals and into support city pubs like that. tourism and weekenders also obviously important.

Dicky Pride

Max Powers wrote: »

to be fair, the man who owned it was in the business for 50 (guess) years and he probably was managing it properly. the (main)problem is getting people off their as$es from their locals and into support city pubs like that. tourism and weekenders also obviously important.

Just my opinion, but I don't think it was being run properly. Over paid bar men/managers. Often too many staff on. They didn't even have a facebook page. I often spoke to tourists who thought Dooleys was T&H Doolans. There is a reputation there that they could have built on. Just the proverbial 2 cents.

wellboytoo

There was zero interest IMHO in this by the owners it looked and felt unloved.
I would imagine buying the building next door in the height of the boom and probably leveraging the pub against it made the borrowings just too big to ever trade out of .
Like a lot of these height of the boom pubs it had to go wallop to reset the base cost to make it a viable business.

beazee

PUBLIC AUCTION ON THURSDAY 6th MARCH 2014 AT 12 NOON AT SHERRY FITZGERALD JOHN ROHAN, MANOR HOUSE, CORK ROAD, WATERFORD

http://www.sherryfitz.ie/commercial/Restaurant-Licensed-Premises-For-Auction-Waterford-City-T-H-Doolans-31-32-Georges-Street-Waterford-propertydetail.aspx?id=332304&ST=5&pc=2

mozattack

Any rumours on who is interested in buying this place?

wellboytoo

mozattack wrote: »

Any rumours on who is interested in buying this place?

What colour rumour Do you want, they're all over the place including it sold yesterday.

mozattack

I didn't hear any rumours about who is buying it...

Dicky Pride

http://www.waterford-news.ie/2014/02/28/jd-wetherspoon-among-interested-th-doolans/

cbl593h

mozattack wrote: »

Any rumours on who is interested in buying this place?

Granville Hotel.

jayboi

mozattack wrote: »

Any rumours on who is interested in buying this place?

Prince Charles

Fizzy84

I always thought a carvery would do well there; there's no where in town apart from the Granville (and Dooley's on a Sunday) doing it. The town is full of cafes and sandwich bars! But apparently it wasnt considered, despite the suggestions

Dicky Pride

I'll never understand people's interest in Carverys.

wellboytoo

Dicky Pride wrote: »

I'll never understand people's interest in Carverys.

Smorgasbored sic

Speak Now

Paddy Brownes up for the same price.

beazee

Have I heard right?

Sold to a publican from south east region for €520K

Confirmed:

T & H Doolan's has just been sold at auction for €520,000. The auction got underway at 12 noon today at
Sherry Fitzgerald John Rohan's offices on the Cork Road.

Source: Waterford News & Star

O Riain

beazee wrote: »

Have I heard right?

Why would a property on the market for €330,000 be sold for more then was being asked?

Dicky Pride

Because there was an auction

Deise Vu

Thats great news. It went €200K over asking price so there must have been serious interest in it. Hopefully the new owner has the vision and drive to get some life back into that area and maybe McLoughlins will get a new lease of life too.

(NB: If the new owner is reading: please do something about the toilets. A few air fresheners even.)

O Riain

Dicky Pride wrote: »

Because there was an auction

Realised the second I clicked post that there must have been an auction.

Oops

thomasm

Thursday, 06 March 2014 13:57
Waterford's oldest pub has been sold at auction.T and H Doolin's which is over 3 hundred years old and well known for its trad sessions sold for €520,000 earlier today. Auctioneer John Rohan said the bidding opened at €300,000, after being put on the market for €330,000. He described the bidding as brisk, and said the establishment was bought by publicans in the South East.

Notice this says bought by Publican(s), a typo maybe

ziedth

That is allot of money to me but I guess the history all but guarantees the tourist trade. I wonder are they planning to do a job on it? I reckon given it's location if they did a really big push on food They could do quite well.

kryogen

Is Carlow the south east? Suppose it is! Anyways, not surprising it went for a good bit above the original asking, there was plenty of interest in it.

Hopefully the new guy does a bit of work there, fixes up the place a bit and gets a good food trade going again. It has the potential to be a goldmine

Dicky Pride

Not sure how anyone could say that any pub could be a goldmine in this town tbh.