BUSINESS: Napier Irish bar part of sale portfolio

Napier's Brazen Head bar and coffee house is one of 52 properties featured in one of the largest commercial and industrial property portfolio put up for sale in New Zealand for more than a decade.
The portfolio, worth nearly $500 million, has been put together by Colliers International.
The company's Hawke's Bay sales manager David Thomas said the Brazen Head, in Hastings Street, which opened about two years ago, was the first of its type in the country and was an exact copy of a Dublin bar.
Colliers were selling the land, building and business. The bar sits on a 359 sq m of freehold land and was housed in a 190sq m two-storey building, with the first floor undeveloped.
It also had a licence for 18 gaming machines.
The tenant has a six-year lease with two six-year rights of renewal and the property was returning about $104,000 a year.