One of the best known pubs in Dublin has been sold for €1.3m, a near 50% increase on its initial guide price.
The Abbey Tavern is situated near to Howth harbour and was put up for sale in May on the instructions of receiver Tom Kavanagh of Deloitte, with a guide price in excess of €900,000.
The property was purchased by Richard Tobin, whose family had previously owned The Yacht pub in Clontarf.
The pub itself is renowned for its traditional music nights and is a popular destination with tourists and locals alike. The two storey building extends to over 650sq. m.
The sale, which attracted high interest from investors, is an excellent opportunity to invest in a business with high profit potential.