IT WAS once Ireland's most expensive pub. The Sheaf O'Wheat in Coolock Village, on Dublin's northside, broke all records in 1998 when it sold for nearly €6m.
It was one of the highest prices for a licensed premises across Europe and was bought by businessman Hugh Grainger. But, last year, it changed hands for €300,000.
New owner David L'estrange, an accountant from Clontarf, said the pub will reopen in May under the new name The Cock & Bull.
The new owners hope that it will breathe new life into Coolock Village.
"There's no doubt that this will revitalise the whole village. I think a good pub will be welcome in the area and it will create 20 full-time jobs," says L'estrange. Although an accountant by profession, L'estrange told the Herald he has some experience in the pub trade. This is, however, the first time he has ventured into the business on his own.
As for the pub's new name, L'estrange says it marks the premises out as a by-product of the recession era.
"The country's been full of an awful lot of cock and bull stories. If the politicians had told the electorate the truth, things might have been an awful lot better," he said.
L'estrange lost his pension in the recession and bought the pub on behalf of his partner Deirdre O'Reilly, hoping that it will provide for Deirdre and their children.