Longford bar up for auction

Longford bar up for auction

One of Longford town's most popular watering holes goes under the virtual hammer tomorrow, Thursday, in an online Allsop property auction.

Kavanagh's Bar, Earl Street, Longford is one of nearly 30 commercial properties that will be offered up by the Dublin-based property consultancy.

The bar, set over a total floor space spanning more than 6,000 sq ft, comes with a reserve range of €290,000 to €310,000.

It's hoped the long established premises will appeal to investors given that the property is currently generating over €45,000 a year in annual rent.

Those figures come courtesy of a leaseholding agreement with    LFK Limited for a term of four years, nine months which started back in August 2013.

The rent, Allsop says, provides   contractual rent of €46,800 per annum, exclusive of rates and VAT.

What's more, the current owner of the property is providing a seven-day publican's licence.

In its description of the bar's internal surrounds, Allsop says that the property's location and layout are suitably positioned to continue under its present set-up.

“The property is arranged over ground and first floors to provide a mid-terrace mixed use building,” a brief synopsis reads.

“Internally the property comprises a public house at ground floor level together with own door residential accommodation overhead.”

The property was made available for public viewing last Thursday ahead of the auction proper which is set for tomorrow (Thursday).

For more or to register, simply log on to www.allsopireland.ie