'Sale agreed' on landmark town centre building

Number 50 Pearse Street Mullingar, a former bank building and in latter times, a restaurant, a landmark property on Mullingar’s main street overlooking Market Square, has gone ‘sale agreed’ as of Monday evening this week.

Padraic Murtagh of James L Murtagh auctioneers, joint agent for the property, said there was a lot of interest in the terraced three-storey Victorian building, which was built circa 1860.

"It attracted a lot of interest and we had a lot of viewings. There were people from various sectors interested, from healthcare professionals to restaurateurs, to people who wanted it as their headquarters because it’s a signature property and Victorian building," Padraic told the Westmeath Examiner this week.

"There was also lot of enquiries as to whether the first and second floors could be used as a residence, and I believe from local information that it was formerly used as a residence where the bank manager lived overhead," he said.

Padraic could not say what the new owners paid for the property, or indicate its intended use, but he said it will undoubtedly "add to the town centre".

"The more buildings that are fully occupied and the more shoe leather that’s walking around, the better for the town centre overall," he said.

Renovated in recent times, yet retaining its architectural façade and features, the building is approximately 8363 square feet. The yard containes 23 private car-parking spaces to the rear, and the vehicular access is from Bishopsgate Street.

The building holds a commanding presence in the Mullingar streetscape and is included in the National Inventory of Architectural Heritage, where it is described it as "a robust and well-detailed Victorian bank building, which retains its early character and form".

"It... reflects the period when bank buildings were designed to express the solidity and wealth of the institution through their architecture. This building has an Italianate feel to the upper floors, while the elaborate cut stone doorcases to either end lend it a Venetian Gothic character to the ground floor.

"This building was probably originally built by the Hibernian Bank Company (archival sources) and forms part of an unusual good and quite varied collection of mid-to-late 19th-century bank buildings in Mullingar. This imposing building is an important addition to the streetscape and a worthy addition to the architectural heritage of Mullingar."

In recent times it was used as a food hall and delicatessen, with restaurant attached. A separate access door, stairs and elevator led to the restaurant on the first floor, and as a result, the property retained the modern kitchens and equipment. The ground floor consists of a spacious main dining area, raised dining area to the rear with rear access door, customer toilets, three large walk-in fridges and multiple large storage rooms.

The first floor of the property is accessed via wide staircase or elevator, and contains a large office, two adjoining dining rooms with an open fireplace and a small bar area. The first floor also benefits from a large fully-fitted kitchen and walk-in fridge. The third-floor could be used as a private apartment.

Zoned town centre mixed use, it offered potential buyers a variety of uses including residential, retail, commercial, or civic offices with ample potential for redevelopment.