INVESTMENTS:AN INVESTMENT in a south Co Dublin crèche along with valuable tax breaks is likely to be of considerable interest to property investors when it goes for sale this week through Savills HOK.

Barbara Lennon of the agency is suggesting a minimum value of €3.2 million for the facility at Belarmine, Stepaside, Co Dublin, which is currently producing a rent of €170,724 per annum. Giraffe Childcare Ltd took a 20-year lease on the 766sq m (8,245sq ft) building in 2007. There are no break options. Giraffe has 15 similar facilities in the greater Dublin area.

The crèche and 10 designed car-parking spaces are off the Enniskerry Road, just north of Stepaside village where Castlethorn developed the extensive Belarmine residential scheme. The crèche is a few hundred yards from a new neighbourhood centre, Belarmine Plaza, which is under construction. Savills HOK says that capital allowances equivalent to 95 per cent of the purchase price will be available with the investment.