The owners of The Viaduct bar and restaurant have called time on their involvement, putting the well-known property on the market, with offers sought in excess of \u20ac1.6m.<\/p>\n
Almost exactly four years after Cliste Hospitality bought the prominent Bandon Rd premises for an undisclosed sum, it is back on the market, refreshed, and upgraded.<\/p>\n
The Viaduct, on the N27, in the shadows of the landmark Chetwynd viaduct, will continue to trade throughout the sale process.<\/p>\n
The decision to sell the property is on foot of a decision by Cliste Hospitality to focus on expanding its hotel portfolio and hotel management platform.<\/p>\n
Since it was set up by Se\u00e1n O\u2019Driscoll and Paul Fitzgerald in 2019, the hospitality group has acquired 10 hotels \u2014 including the Radisson Blu in Little Island and Muckross Park Hotel in Killarney.<\/p>\n
Several restaurants are also part of the portfolio such as The Fork and Wheel in Midleton, East Cork.<\/p>\n
Rob Coughlan and Malcolm Tyrrell, of Cohalan Downing, are the agents handling The Viaduct sale, and said it was \u201can opportune time to let a new management team in\u201d as the property had been extensively revamped and the business successfully repositioned, with the management and wider team delivering \u201ca strong operational performance\u201d, particularly in the last year.<\/p>\n
INHERIT<\/p>\n
The new owners will inherit a substantial premises of just under 7,000sq ft (646sq m) on a site of 2.84a (1.1ha) with over 110m of profile on the N71 Bandon Rd.<\/p>\n
The property is currently laid out as a modern and spacious cafe, bistro, restaurant, and bar, and there is also a two-bedroom staff apartment. Outdoor areas include an array of patios and courtyards, as well as 80 lined car parking spaces.<\/p>\n
Mr Coughlan said that an additional open yard to the rear, which has the capacity for overflow parking, also has potential for future development \u201cperhaps additional residential accommodation in the form of a hotel, aparthotel, or large guest house, subject to planning permission\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"The owners of The Viaduct bar and restaurant have called time on their involvement, putting the well-known property…\n","protected":false},"author":2,"featured_media":272983,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,4257,79,25976,61,60],"class_list":["post-272982","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-cork-business","tag-cork-news","tag-cork-property","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/272982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=272982"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/272982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/272983"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=272982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=272982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=272982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}