Address: Thelokes, Freshford, Co Kilkenny.

Agent: O'Keeffe Auctioneers.

Property type? Pub and B&B for over €750,000.

What do you get? A ready-made business. Thelokes has been run by Frances and Peter Theloke and their family for 14 years. The long established bar has been refurbished. With a pretty exterior, the premises has a cosy bar, lounge and rear function room. The private quarters consists of six bedrooms (one en suite) and two bathrooms.It also has a livingroom, kitchen, diningroom, store and utility. The back door leads to the garden and B&B. The B&B has its own private entrance, and four en suite double bedrooms on its first floor with views of the landscaped garden. See www.thelokes.com .

How much for an investor? If the pub sells for the asking price, with stamp duty at 9 per cent and legal fees at 0.5 per cent plus VAT, the acquisition price is €822,038. Assuming a mortgage of 80 per cent at a variable rate of 4 per cent, the annual mortgage repayments over 20 years would be €43,631. The annual mortgage repayments on an interest-only mortgage would be €24,000.

Stamp Duty: €67,500.

Legal fees at 0.5 per cent plus VAT: €4,538.

Potential: whoever buys Thelokes is taking on a well-established business with a pub that plays host to local musicians, has a league darts team and its own angling and golf societies. The draft area plan for the Freshford area proposes 400 new residential units within the village environs. Nestled in the valley of the Slieveardagh Mountains, the village currently has a population of over 600. A village constructed around a tree-lined square, it is a 10-minute drive from Kilkenny city. The quaint exterior of Thelokes is bound to be a draw for passing tourists.

Verdict: may suit someone contemplating a change of lifestyle. Thelokes has an established income stream but a new owner will have to be prepared for hard work. The pub trade has suffered as a result of rising overheads and the smoking ban but this might be an opportunity for someone looking to open a gastro-pub. The four double B&B rooms are another bonus with the current rate set at €40 per person sharing and there may be potential to turn some of the six private bedrooms into B&B rooms.

Calculations by Simply Mortgages