One of Ireland’s most famous venues, Copper Face Jacks in Dublin, is up for sale, with industry sources suggesting it could fetch up to €40 million.
Alongside the Jackson Court Hotel, Coppers went on the market on Thursday for sale by private treaty.
Dermot Cutin of DC Curtin & Associates has been appointed to manage the sale. Mr Curtin said a strict sale price has not been set.
Industry sources said the property, which encompasses numbers 28 to 31 and number 35 Harcourt Street in Dublin 2, could attract somewhere near €40 million.
Opened in 1996 and extended several times, Coppers is being sold with the Jackson Court Hotel, which has 37 bedrooms and seven bars. Fast-growing entertainment group Press Up had been rumoured to be a purchaser but a spokeswoman said it would not be buying the property.
“The opportunity to acquire both the iconic ‘Coppers’ and the substantial Jackson Court Hotel is one of those projects that come to market once in a generation,” Mr Curtin said.
“The unbeatable trading location in the city centre ensures that future underlying values of these properties can only go one way. Add to this the exceptional profitability of the current business and the entire combination presents a very enticing opportunity for the market,” he added.
The building's owners, Cathal and Paula Jackson, have invested heavily in the business since acquiring it, including €4 million in capital expenditure since 2013. In 2016 the hotel added 10 bedrooms and the selling agent noted occupancy has been in the "high 80s".
"Over the past 23 years I have been totally committed to setting up and establishing Copper Face Jacks as one of the most enduring and successful entertainment venues in Ireland, " Mr Jackson said.
“It is now time to hand over the reins to new owners who have the energy and the expertise to take Coppers to the next level.”
Coppers has become an institution over the years, with writer Paul Howard – the creator of Ross O'Carroll Kelly – creating a musical based on the venue.
It also got a mention at the All-Ireland senior football final when Dublin won in 2011. Having lifted the trophy, Dublin captain Bryan Cullen told the crowd: “See you all in Coppers”.
“Having spent much of their working lives creating and operating this incredibly successful business, the vendors understand fully what the property is worth and will easily recognise a fair and realistic offer, when it presents itself,” Mr Curtin said.