Thursday 24 May 2018

12.5pc yield in Monaghan

AN investment property in Monaghan with a respectable covenant and a prospective yield of 12.48pc is being offered for sale for €215,000.

The NCT Centre in Monaghan Town is the subject of a 30-year lease to the National Car Testing Services Ltd from November 1999 at a current rent of just under €28,000 a year.

Joint agents are Savills and Property Partners Laurence Gunne on behalf of receivers Neil Bannon and Paul Paul Doyle of Bannons.

The property comprises a modern warehouse unit adapted for use as an NCT Centre on a self-contained yard of 0.22 ha (0.55 acres). Externally the site provides parking for 35 customer cars and has good circulation space on a site bounded by palisade fencing.

It is situated in a high-profile location at Gortakeegan at the junction of the Clones Road (N52) and Newbliss Road (R198).

The National Car Testing Service is now vested in Applus Car Testing Service Limited, a subsidiary of Spanish-based Applus Servicios Tecnologics SI which had a turnover of almost €50m in 2011.

Irish Independent

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