A bar and restaurant in Dublin's Grand Canal Square is to be sold as a going concern for €3.5 million. It occupies two floors of a modern block close to the Marker Hotel and Bord Gáis Energy Theatre.

Agents Savills are handling the sale of the premises for the business which had a turnover of around €3 million last year.

The facility has become a social hub in an area dominated by major high-tech companies such as Google, Facebook and Twitter, and a range of international legal and financial firms. It also benefits greatly from its close proximity to the 2,111-seat theatre which is also for sale.

The bar/restaurant can accommodate 250 people on the ground and first floors which extend to 780sq m (8,400sq ft). There is a gastro themed bar/ restaurant on the ground floor along with a wraparound terrace to facilitate outdoor dining.

Stephen McCarthy of Savills said the premises were being sold as a going concern free of any franchise agreement. This would allow a new owner to introduce their own brand into what is a coveted commercial and residential district.

They expected strong interest in the premises, given the relentless demand for prime food and beverage properties in central Dublin.