The Stag's Head pub, off Dame Street, Dublin, was sold at auction yesterday for €5.8 million - €800,000 over the guide price quoted by agent CBRE Gunne.
The new owner is prolific Dublin publican Louis Fitzgerald, who was one of seven bidders competing for the property. This is the first significant pub sale in an uncertain market since the Government announced its proposal to introduce a new cafe bar drinks licence .
The Fitzgerald Group controls over 20 pubs around the country, including Kehoes on South Anne Street and the Baggot Inn in Dublin and the Quays pubs in Galway. His substantial suburban portfolio includes the Poitín Stil in Rathcoole and the Marble Arch in Inchicore.
The previous owner of the Stag's Head, Philip Shaffrey, sold the Victorian pub which his family have owned for over 30 years.
Louis Fitzgerald was unavailable for comment about his plans for the pub. However, it is unlikely he will make too many changes to the building, which is a protected structure, built in 1760 and refurbished in 1895.
