Receivers put Bill's car showroom up for sale
Published 21/11/2012 | 05:00
A FORMER Bill Cullen car showrooms at Liffey Valley in West Dublin are being offered for sale on the instructions of Tom Kavanagh and Ken Fennell, joint receiver and managers to two Glencullen companies of which Mr Cullen was a director.
Agents CB Richard Ellis have set a a guide price in the region of €3.5m for a private treaty sale.
With an address at Unit 2, Liffey Valley Motor Mall, Liffey Valley, Dublin 22, the property includes a building with a ground floor area of around 1,860 sq m split about 50:50 between the show room and a service centre. A mezzanine floor of about 250 sqm in the showroom accommodates offices. The service centre has jack elevators for eight cars and five vans.
Occupying a high-profile position adjacent to Liffey Valley Shopping Centre and with easy access from the N4 and M50 motorway at Junction 7, the building stands on a 1.86-acre site and is held on a very long lease.
Florence Stanley of CBRE says that the property might be suitable for a variety of alternative uses given its size, profile and location.
Mr Cullen built up the Renault dealership in Ireland after buying it for €1. He also wrote a biography about how he became a wealthy man and he hosted the Irish TV version of the Apprentice.
Meanwhile, Michael Grant Renault dealership is opening a new showroom at the Sandymount premises which had previously been occupied
by Winfield Motors.
The Maxol Group has let out the car showroom premises next to its Beach Road petrol station at Sandymount, Dublin 4.
Maxol is also seeking to acquire service stations around the country following its acquisition of six petrol filling stations this year in the Republic and Northern Ireland.
The group is also hopeful of completing the purchase of a number of others this year.
The Sandymount property is located at its junction with Church Avenue, and is on a route linking south Dublin to the East-Link toll bridge, the Port Tunnel and Dublin Airport.
The Sandymount showroom has a floor area of about 744sqm and stands on a site of about 0.5 acres with 40 car spaces. Terms of the new lease have not been disclosed but agents CBRE had been quoting a rent of €100,000 a year.