Kylemore Cafes have bought the former Ely gastro bar at Hanover Quay at Grand Canal Square in Dublin 2 for €4.8 million.

The business premises were offered for sale by Savills for receivers Grant Thornton after Danske Bank decided to pull out of Ireland. The profitable business had been run by Ely since 2007 and was particularly noted for its craft beers, cocktails and wines. The closure of the business has not affected the other outlets at Ely Place and the IFSC.

On the south of the city, Stephen McCarthy of Savills has secured €1 million for a two-storey over basement retail building at 4 Main Street, Blackrock, which is also rented by Savills for a 25-year term from 1999.

The €60,000 rent is subject to five yearly upwards-only rent reviews.