Early Cork 'superpub' once linked to GAA great Teddy McCarthy guided for sale at €1.9m

Listed with agent ERA Downey McCarthy is District 11, a substantial bar-restaurant by the Crestfield Centre in rapidly-expanded Glanmire, just east of the city and where house building is continuing apace, with expectations of a major further scheme at Dunkettle  now that the complicated interchange by the Lee Tunnel is completing.

The substantial bar was developed in the early 2000s, associated at the time with the legendary GAA dual star Teddy McCarthy who died last June, and which has changed hands several times over the past 20 years, at boom time prices of up to €3 million, and also traded in various hands as Ghlaise Bhui, after the local Glashaboy river, as BK2 , and most recently as District 11.

Ownerships have varied from consortia to investors, as well as a family with other licensed premises in the region. The current owner is a businessman with interests in the broader drinks industry, who has had it leased in recent years to an operator who ceased trading post-covid.

Currently trading as offered as a going concern District 11 is listed this week with commercial estate agent Gerard O’Callaghan of ERA Downey McCarthy who says it’s a renowned and long-established premises and restaurant, likely to be turning over up to 40,000 a week, or €2m pa but firm trading figures aren’t available as it was leased to a different operator in the sector.

Mr O’Callaghan says he anticipates interest primarily from existing publicans and those in the wider hospitality segment, and says the area is densely populated with ongoing other development and further house and apartment building.

This premises stretches to 829 sq metres/c8,500 sq ft with two commercial kitchens, restaurant, bar, first floor function space/restaurant (ethnic eateries have operated here previously), beer garden and good parking.

It's close to the substantial Ryans SuperValu with multi-level parking, and the O’Callaghan Properties’ Hazelwood/Crestfield Shopping Centre and mixed retail/offices/service commercial units, all serving a community with a population in excess of 15,000.

“The location offers enormous trading potential for a new operator,” says Mr O’Callaghan: Glanmire is also the location for Cork’s new elective hospital, earmarked for Sarsfields Court by Sallybrook/Riverstown, off the M8.

The District 11 bar/restaurant offer sale comes after the sale the hefty c €30m Reardens complex sale in Cork city centre, along with the Oliver Plunkett Bar, to Attestor Capital – an absolute price record for the city, even in excess of the €25m sale of the venerable Imperial Hotel to Louis Fitzgerald group who’d been eyeing up other Cork licensed premises opportunities.

Bar sales in and around the city have been scarce – bank lending is virtually non-existent – but among those to have changed hands were Soho a year ago, on Grand Parade in an off-market deal at up to €5m in a deal involving Pwc’s Ger O’Mahony, and the Rendezvous on the Model Farm Road, acquired by chef Pat Kiely of the former Les Gourmandises in a c €2m deal brokered by MC2 accountants.

Meanwhile, in the city centre, it’s understood the former Electric bar and restaurant has been taken off the market, having been offered back in September 2023 at €2.5 million.

Details: ERA Downey McCarthy 021