Publicans Jonathan Bourke and Owen Foyle are to offload the former O'Reilly Auction Showrooms opposite the City Hall in Exchange Street, Dublin 2, now that they have secured planning permission to redevelop the site for a five-storey office development with 10,000 sq ft of space. Nigel Kingston of Douglas Newman Good is quoting £2 million (€2.54m) for the site which was acquired four years ago for £625,000 (€793,586). The two businessmen, who lease the Front Lounge bar from developer Christopher Bennett for £190,000 (€241,250) per annum, originally planned to extend the bar into the auction rooms.

The plan fell through for a number of reasons, including a decision not to allow the bar to be extended. They also turned down a planning application for apartments. The agents say that space in the proposed Sky Lab building nearby could make between £35 and £40 (€44-€51) per sq ft.