The slump in price of the Bar-a-Cuda pub in Moville
The downturn has really hammered the price of pubs, restaurants and hotels in Moville.
A good example is the Bar-a-Cuda.
Have a look at the price it was for sale previously here Franklins
Now, look at the price it is for sale now – McCauley Properties
That’s a loss in value of €700,000 in just a few years – and it may not sell for the new price.
It looks to me that business pubs / restaurants / hotels are selling at around 10% of their peak prices going by the Caiseal Mara and Bar-a-Cuda.
I’m being told by local businesses that business is starting to pick up in Moville.
However, many businesses go under when a recovery has already started, the main reason for this being cash flow problems.
In 5-10 years time the current prices are going to look like absolute bargains.