New drink driving legislation and competition from hotel developments and alternative leisure pursuits has created a challenging environment for the licensed trade. As a result, premises close to transport links are more attractive than ever.

Recent developments have also underlined the attraction of premises with development potential. However, this does not necessarily mean the demise of the pub, with many developments incorporating a smaller pub into the new layout. Demand is also likely to remain strong for pubs in prime city centre locations, key suburbs and expanding provincial towns.

It is expected that pub prices will, for the most part, remain static this year.

A number of significant pub sales are expected to take place this year, including some well-known properties with considerable development potential. Similarly, well-located premises that are accessible by public transport are expected to sell well given their future trading prospects. For example, CBRE believes that there are likely to be at least 30 pub sales in the Dublin market this year and that private treaty and tender will be the preferred methods of sale in the pub market in 2007.

The industry in Dublin has benefited from a strong trade organisation and representative body, the Licensed Vintners Association (LVA).

One of the oldest trade associations in the country, the purpose of the association is to represent the publicans of Dublin and to protect and promote their strategic business interests.

The LVA has over 750 members and represents approximately 95 per cent of all publicans in Dublin. Its members sell over one-third of the alcohol sold through the licensed trade in Ireland.

Investing in the licensed trade is not for the inexperienced, which explains why so many new investors are experienced business people with a solid track record. For those who meet these requirements, strong population growth and consumer spending coupled with good tourism trade and improvements in public transport mean the business outlook is encouraging for 2007 and beyond.

A number of high profile licensed premises have come to the market recently through CB Richard Ellis in Coolock and Churchtown in Dublin and Cahir, County Tipperary.

The Sheaf O'Wheat in Coolock is to be sold by tender on 14 March. Occupying a pivotal trading location in the heart of the village, the 0.25 ha (0.61 acre) site is in the heart of one of Dublin's most densely populated residential and commercial areas, which has experienced considerable development in recent years. The property is convenient to Dublin Airport and is located close to many other densely populated areas such as Artane, Beaumont and Raheny.

One of Dublin's premier licensed premises and late bar venues - McGowans of Churchtown - is to be sold on 15 March. Formerly the Braemor Rooms, it occupies a total area site of 0.78 ha (1.9 acres), part of which is a substantial licensed premises occupying a prominent trading position fronting Churchtown Road in the heart of this densely populated suburb of south Dublin.

The property is close to many other densely populated areas including Rathfarnham, Rathgar, Goatstown, and Dundrum. Nutgrove Shopping Centre and the Dundrum Town Centre are also in close proximity.

In Tipperary the Cahir House Hotel is for sale by private treaty.

Steeped in history, Cahir House Hotel has for many years been synonymous with the social, tourist and sporting life of the town. It combines modern comforts with an atmosphere of old world charm and elegance. The hotel has hosted many famous visitors and include De Valera, W T Cosgrave, Mae West, Douglas Fairbanks, Walt Disney and Jackie Kennedy.

It occupies a commanding corner position overlooking The Square in the heart of this prosperous and expanding heritage town, strategically situated at the intersection of the Dublin/Cork and Waterford/Limerick national routes and well served by road and rail.

Cahir, a popular and vibrant town, is surrounded by a rich farming hinterland and attracts visitors from all over the world to its renowned Castle on the banks of the River Suir. Cahir House Hotel replaced the castle in the 1770s as the ancestral home of the Butler's of Cahir and remained in the Butler Family until 1961. Over the years the hotel has been extensively developed and expanded. The well appointed facilities include O'Brien Bar, Butlers Pantry Restaurant, Legends Night Club, conference/function facilities (for 300 people) and 42 en suite bedrooms. The hotel also includes a Health and Beauty Spa for guests and locals.

Over the years a substantial and quality business has been established in the food, drinks, accommodation, functions and night club sectors.

The sale offers an outstanding opportunity to build on this trade. The property is being sold on behalf of Mairead O'Brien who is disposing of the hotel to concentrate on other business interests. For further details contact John Hughes at CB Richard Ellis.

One of the most interesting retail opportunities to be announced recently is about to start taking shape on the ring road at Monvoy, where Monvoy Developments is constructing a medical centre, pharmacy and four shop units, together with a creche.

Located on the Tramore Ring Road, these units will be ideally positioned to capitalise on the continuing housing development of Monvoy Valley. The pharmacy will extend to 245 square metres and the medical centre 210 square metres. The four retail units measure around 110 square metres each, with office accommodation overhead.

The units are available for sale or rent through sole selling agents PropertyTeam MA O'Leary, Wexford. Since commencing business in Wexford Town in 1980, PropertyTeam MA O'Leary has grown to become one of the most successful auctioneering companies in the south east.

The company has put together an experienced and qualified team who are in a position to offer a high quality service for residential and land sales, business disposals, commercial property and all types of valuations. Its office is located on the corner of South Main Street/King Street, which offers an ideal advertising location for the business and its clients.

Another major player in the commercial property sector is RE/MAX Partners Fairview, which can call on extensive experience in property sales. The company offers a range of services including a free property marketing appraisal, access to a computerised database of active buyers and viewing and negotiations handled by senior associates.

As part of the RE/MAX network customers have access to nationwide exposure via over 260 agents and 65 offices and 24 hour/365 day a year phone information on all listings.