Venues formerly known as Central Park carry value of €3.5m – €5m
Project Abbeygate – the Electric Garden and Halo nightclubs in Galway
Fiona Reddin
Galway nightclubs Electric Garden and Halo – known to older clubbers as Central Park (CPs) – could be about to hit the market as the fallout from coronavirus continues to wreak havoc on the nightlife sector.
After 30 successful years in business, it’s understood that the owners of the landmark venue are looking at a potential exit strategy following 18 months of public health restrictions. Only last week new closing hours of midnight were imposed on the late-night industry.
Should the well-known property come for sale, market sources say they expect it to guide at a price of between €3.5 million and €5 million. It is understood that agents TWM and Cushman & Wakefield’s Galway office are preparing the property for sale.
A multi-purpose venue, the premises comprises a bar, restaurant, arcade and club and has been home for many years to music and arts festivals, club nights, live shows, and food and cocktail events.
Another factor in a potential decision to sell is the nightclubs’ close proximity to a site that is already on the market; when combined, the site and the properties provide an opportunity for a major city centre development play.
Nightclubs
Electric Garden and Halo sit on a large central Galway site extending to 0.2 hectares (0.5 acres) and comprises a floor area of 2,028sq m (43,572sq ft) over a number of levels. It has significant frontage to Abbeygate Street Upper, comprising all or part of number of mid-terrace three storey over basement commercial buildings. As well as housing nightclub areas, these buildings also include retail and apartment accommodation. The site is located just a short distance from the city’s main retail thoroughfare Shop Street as well as Eyre Square.
The property has been developed over the years and extended into the large regular-shaped rear site with significant two- and three-storey structures, constructed to form two open-plan nightclubs, beer gardens, a restaurant and covered outside areas together with ancillary service accommodation that includes storage, toilets, cold rooms and office space.