A predicted one in five pubs currently for sale in Cork are expected to be converted for other purposes, as they are no longer financially enduring as pubs, according to a local property market expert.

The property market in Cork has seen considerable activity recently, with several well-known pubs being listed for sale. In March, the Flying Enterprise complex on Sullivan’s Quay was put on the market for €5.3m. Last week,The Hawthorn by The Lough,was listed for the first time in 40 years,with an asking price of €1.6m.

This week, another well-known establishment, The Outpost, in Bishopstown, has been added to the list. Auctioneer Sam Kingston of Casey & Kingston auctioneers in Cork City is managing the sale of The Outpost, which has an asking price of €1m.

Mr Kingston anticipates that while some venues,including The Outpost,could thrive as licensed establishments,others are likely to close permanently.

Viability Concerns Drive Redevelopment

“There are about 50 pubs for sale in Cork City and county at the moment,and I’d imagine that at least 20% of them are non-viable as pubs,just as of location,ageing,and demographics,” said Mr Kingston.

“There are about 50 pubs for sale in Cork City and county at the moment, and I’d imagine that at least 20% of them are non-viable as pubs…”

“It’s a different market.I’m in this business for 40 years and in that time, I’ve sold a lot of pubs. A lot of the pubs that I sold years ago in Shandon St and places like that are now closed and have been redeveloped into residential accommodation, and other uses.”

The Outpost: A Potential Investment

Mr Kingston believes The Outpost presents a solid investment opportunity. “It’s 5,000sq ft on quarter of an acre selling for €1m – that is value at €200 a square foot and if you look at the Bishopstown area, there isn’t a huge amount of pubs there. There’s a lot of new progress being done in Waterfall nearby. It might well become a commercial development, but there’s a strong possibility that it will work as a pub.”