JD Wetherspoon, the UK pub operator is due to start building work on its first pub in the Republic on Monday.
The Watford-based, stock exchange-listed company purchased the Tonic Bar on Temple Road, Carydfort Avenue, Blackrock for €1.5m.[rev_slider Surety]
Wetherspoon is to invest a further €1.5m developing the site, making a total investment of €3m. At present there are no on site or opening dates, however, Wetherspoon aims to have the new-look pub open by April.
Wetherspoons has also agreed to purchase the 40 Foot pub in Dun Laoghaire.
Wetherspoons currently owns almost 900 pubs in the UK, including nine in Northern Ireland. Famously, Wetherspoons had planned to open a pub in Dublin city centre a decade ago however the high cost of doing business in Ireland at the time prevened this.
Wetherspoon founder and chairman Tim Martin said: “I am delighted that we have secured our first site in the Republic of Ireland and am looking forward to opening our first pub there in the near future. Our aim is to invest up to 50 million euros in the Republic of Ireland over the next five to ten years, opening between 10 and 20 pubs. Each pub will create approximately 50 jobs,” continued Tim.
It is thought that by opening shop in Ireland other UK-based chains will follow suit, including market leader Greene King which owns over 1600 pubs.