Given Aichen Chen and Lin Zhu's focus on food — including a restaurant at The Lough and two premises on Princes St — it's likely that food will play a central role at The Model Farm Bar & Bistro which they have just bought for €1.1m. Picture: Lisney
The Model Farm Bar & Bistro on Model Farm Rd has been sold for €1.1m to investors Sengfund, the same company behind the €5m-plus acquisition of the former Flying Enterprise complex in Cork city centre.
Agents for Lisney confirmed the sale of the Model Farm Rd premises which has continued to trade since it was put up for sale by its then owners, the Burton family, in 2025.
“The contract has been executed and the sale is due to close in early September,” Lisney agents said.
As the buyers are the Chinese duo behind several food-focused hospitality enterprises including the Royal Palace Chinese Restaurant, located above The Hawthorn Bar by the Lough, as well as two Princes St restaurants — The Pearl River and Nosh 19 — it’s likely that food will play a central role at the Model Farm Rd pub.
The duo — Aichen Chen and Lin Zhu — registered a trio of Sengfund companies in the past year according to the Companies Registration Office, where they are listed as directors and shareholders of all three.
Principal activities are stated as ‘buying and selling real estate’ (Sengfund Investment Ltd) and ‘restaurants and mobile food service activities’ (Sengfund 1 and Sengfund 2 Ltd).
Since buying the Flying Enterprise complex last November, they’ve renamed that pub The South Gate, as it is adjacent to South Gate Bridge.
The complex includes the Courtyard Bar, which is capable of holding parties of 700, a shop, Quay News, off-licence, and five overhead apartments.
Separately, talks are advanced on the sale of Paddy the Farmers, a high-profile pub with nine overhead apartments on the corner of Summer Hill North and the Old Blackrock Rd.
An offer of €1.9m, accepted by the owners, fell through but Lisney said it was sale agreed again with a new purchaser, with hopes of concluding the deal by the end of September.
Progress is also being made on the sale of Tequila Jacks, a waterfront venue on Lapps Quay, which came to market with a guide price of €1.3m.
Like Paddy the Farmers, an agreed sale fell through, but agents Lisney are back in talks with two other parties, one Dublin-based and one local, with hopes of completing a deal sooner rather than later.
Activity on the pub front has been hectic in Cork City over the last 12 months, with a number of well-known venues changing hands and changing tack under new owners.
Reidy's Vault Bar on Lancaster Quay is set to become a second city venue for hospitality operator Son of a Bun. Meanwhile, Bull McCabe's on Airport Rd is set for conversion to residential. And The Viaduct on the Bandon Rd looks set to become a bus depot.