Public house fetches over €1.3 million at auction

A landmark public house recently fetched over €1.3 million at auction at an end of year public auction conducted by Roscommon-based auctioneers Property Partners Earley. The Lyons Den public house at Ballymahon Street, Longford, was sold at auction on Monday last. The auction in the Longford Arms Hotel was very well attended, testament to the demand for such well-located and renowned establishments.   Bidding was brisk and opened at €1 million with the hammer coming down after 11 individual bids at €1,340,000. The property was bought in trust by Andrew Fay of NJ Downes Solicitors, Mullingar. Solicitor with carriage of sale was Michelle Dolan of PJ Groarke & Son Solicitors, Longford.  John Earley who conducted the sale commented that this was an exceptionally positive result for such type of commercial property and for the owner who is retiring from the business after many successful years of trading at the same location. Demand for such property has resulted in many successful auction results recently, proving that recent negativity has abated, according to the auctioneer. ‘Stamp duty reform has also had a positive affect on sentiment in the market, something that is widely welcomed by the Property Partners group.’