David Kelly & Ciaran Sheehan buy Russell’s of Ranelagh

Russell's of Ranelagh, an ideally-located suburban pub and restaurant, was bought recently for an undisclosed price, thought to be in excess of €1.75 million.

Dublin pub Russell's of Ranelagh has been sold for an undisclosed price thought to be more than €1.75 million by private treaty at a time when the last 12 Dublin pub sales went for an average of €800,000.

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Off-trade

In the heart of Ranelagh village in South Dublin, the well-located pub with a unique first floor balcony area, was sold on the instructions of Eamonn Richardson and Kieran Wallace of KPMG, Receivers to Dublin Taverns Ltd. The Receivers have been operating the pub since last November.

Former owner David Cullen, who also owned The Turk’s Head pub in Dublin’s Parliament Street, was one of a number of directors of the company.

The new owners are David Kelly and Ciaran Sheehan who’ve built the Ri Ra pub and restaurant chain in the US over the past 16 years.

The pair confirmed that they “are delighted with our first Dublin acquisition which is likely to be the first of many,” adding that they’ve “exciting plans” for the premises.

CBRE’s John Hughes confirmed that interest among publicans had been high, “…. further confirming the level of interest in acquiring pub businesses in well-located city areas”.

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