Asking price for Crane Bar cut to €550,000

Asking price for Crane Bar cut to €550,000

 

The receiver for an investment property in Galway City has cut his asking from the €900,000-€950,000 level he was seeking two years ago and is now quoting in excess of €550,000.

Paul McCann of Grant Thornton is receiver to the property known as The Crane Bar, which is let on a 20-year lease from 2006 and the current tenant is not affected by the receivership or sale.

Located on Sea Road in the heart of Galway City’s entertainment district, the bar is popular with traditional music enthusiasts.

Mr McCann appointed CBRE and Mullery Auctioneers as joint agents.

Located just a short walk from Shop Street and Jury’s Inn Hotel, the two-storey over-basement corner premises is synonymous with traditional music and has for many years been popular with locals and tourists.

The premises include a ground floor bar and first-floor lounge.music venue and is fitted in traditional style throughout.

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