Monday 23 October 2017

Attractive yield at Topaz

A gross yield of 12pc plus is being quoted for the Topaz Petrol Station in Blanchardstown, Dublin 15 with its guide price of €1.25m.

It is currently generating a rental income of €150,000 per annum on a 25-year lease. Located on a busy corner site beside Blanchardstown Town Centre, it has frontage to three roads, a retail shop and car wash.

The agents Kelly Walsh recently sold two nearby motor showrooms to two businesses which had secured finance for their deals.

Atlas Autoservice bought the former Renault showroom of 1,400sqm on Snugborough Road and plan to let out about half of it in three retail units.

The agents had quoted €1.5m for this and €850,000 for the 557sqm adjoining showrooms. This latter was bought by Rathgar Motor Factors which will open a Parts 4 Cars outlet.

Located at the entrance to Coolmine Industrial Estate, both showrooms almost achieved their quoted prices for Kieran Wallace, receiver of O'Rourke Quilter Motors Ltd.

In a completely unrelated deal, the same agents also sold an office and warehouse unit in CityNorth Business Campus off the M1, Stamullen, Co Meath, for in the region of €540,000.

Super Sat Systems bought the 419sqm, own-door terraced unit, which accommodated offices over two levels and a warehouse facility.

Irish Independent

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