A record price of over £3 million for a bar and restaurant in Munster has been paid for the 272-year-old former Coaching Inn at Annacotty, on the main Dublin Road, five miles from Limerick city.

A landmark premises now known as MJ Finnegans, it has been sold by Mr Michael Costello, his wife Sinead and his mother, Mrs Jacqueline Costello, to Mr Finbar Murphy, a well-known Cork publican. The Costello family bought the premises four years ago for £300,000.