A private investor has paid €3.3 million – €1 million above the guide price – for the Irish head office of McDonald’s Restaurants in Block 7 of Richview Office Park at Clonskeagh, Dublin 14. The investment property is rented at €256,373, giving the new owner a return of 7.32 per cent.

The three-storey block at the rear of the park extends to 800sq m (8,611sq ft) and has 24 on-site car-parking spaces.

Most of the ground floor is vacant, giving the new owner an opportunity to increase the rental income. Internally the block has been divided into two own-door office suites.

Most of the space is let to McDonald’s on a 25-year lease from the end of 1996 and the next upwards-only rent review is due in 2016. There are no break options remaining on the lease.

McDonald’s first opened in Ireland in 1977 and now has 84 restaurants throughout the country either owning them directly or operating on a franchise basis.

It has a staff of around 4,000. The most recently published accounts show that the company posted a net profit of €11 million off an annual turnover of €77 million.

Nigel Kingston of Douglas Newman Good advised the purchaser while Ross Fogarty of Knight Frank acted for the vendor.