Maynooth restaurant on the market with €1.25m guide price

A business opportunity has come to the market in Maynooth town just days after another property in the town sold at auction for 14pc over its guide price.

The Elite, a restaurant and bakery on Main Street, is now being offered for sale with vacant possession and a €1.25m guide price. Joint agents Liam Reilly Auctioneers and Sherry FitzGerald Brady O’Flaherty describe the property as a part-two-storey commercial investment/redevelopment opportunity extending to 3,750 sqft.

It incorporates a restaurant with kitchen together with a bakery to the rear and enclosed rear yard with parking access. Its first floor accommodates storerooms, canteen and an office.

Its site extends to 0.11 of an acre and comes with dual frontage onto Main Street and Doctor’s Lane to the rear. It is opposite a public car park.

Agent Eamon O’Flaherty says it is suitable for conversion to residential accommodation and that the entire building is in good condition. The business was founded in 1982 by Brendan Dalton and the late Bill Bright. Both their families have been running it in recent years and it supplies a range of retail and other operators.

Last week Sherry FitzGerald Brady O’Flaherty sold nearby Avondale House on Convent Row, a two-storey building extending to 258 sqm, for €740,000, or €90,000 over its €650,000 guide price.

It includes three ground-floor retail units and two first-floor own-door two-bedroom apartments from which it currently generates annual rents totalling €58,800, equating to a gross yield of 7.95pc.

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