Tuesday 23 January 2018

McDonald's offers golden opportunity

The property is described as a prime investment opportunity. Photo: PA
The property is described as a prime investment opportunity. Photo: PA
Ronald Quinlan

Ronald Quinlan

Offers in the region of €2.5m are expected for a McDonald's drive-through restaurant located at the northern gateway to Cork city centre.

A prime investment opportunity, the property has the benefit of an outstanding established covenant with McDonald's Restaurants of Ireland Ltd, and is let on a 35-year lease commencing in May 2000 on FRI (full repairing and insuring) terms with five-yearly upward-only rent reviews. There is an unexpired lease term of just over 17.5 years currently.

The property, which is being marketed by Cork-based agents Cohalan Downing, comprises a modern and an exceptionally well presented, single-storey, purpose-built McDonald's Drive-thru restaurant extending to some 305 sq m (3,283 sq ft).

Occupying an unrivalled corner profile site, the premises has only recently undergone a major franchise refurbishment by the tenant.

Accessed directly from both the New Mallow Road (N20) and Fitz's Boreen, the property is delivering an established current rental income of €165,000 per annum exclusive.

The N20 corridor is the main approach route when entering Cork city from the northern side. McDonald's is situated approximately 2.5km north west of Cork city centre. This is a superb location, with the property occupying a prime pitch on one of Cork city's busiest access routes. The location is further complimented by the abundance of residential accommodation in the locality.

Adjacent occupiers include Topaz service station, Noel Deasy Cars Ltd, Blackpool Shopping Centre & Retail Park and the Northpoint Business Park.

Tender documents are available on request to principals only from Ronan Daly Jermyn Solicitors, 2 Park Place, City Gate Park, Mahon Point, Cork.

Completed tenders must be received by the offices of Ronan Daly Jermyn no later than 12 noon on Thursday September 28 next.

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