A landmark South Galway pub is under new ownership after it was sold at auction for €340,000 – €20,000 more than the reserve price.

Speculation is rife over the new owners of the popular O’Grady’s Bar and Restaurant in Gort, which was sold by O’Donnellan and Joyce Auctioneers.

Local Cllr Gerry Finnerty (FF) said that the bar and restaurant has been part of the fabric of the town centre for generations and that everyone was disappointed when it hadn’t reopened since the end of the Covid lockdown.

Owners Sean and Mike Mullins decided to dispense with the property, which is located at a corner site in the centre of Gort, and it went to auction.

Selling agent Mary Fahy of O’Donnellan and Joyce Auctioneers told the Connacht Tribune that there were two registered bidders – one present at the auction and one online.

She explained that there was a reserve of €320,000 the property and the bidding opened at €300,000.

The bidding then increased in increments of €5,000 and after eight bids, it was eventually knocked down to the new owner for €340,000.

The property was purchased in trust and, as yet, the new owners are not known but it hasn’t stopped the speculation about who has bought it with several names already being mentioned.

However, Cllr Finnerty said that regardless who purchased the property, it was not alone important that it be renovated and reopened but that the new owners were well supported by the local community.

“It is certainly not an easy business to be in at the moment and that is why it has to be supported and encouraged. It is an important part of the fabric of the town and we can only wish the best to whoever has acquired it,” he added.