Two properties rented to Topaz in Meath and Dublin for over €5m

Coolfore service station is over €3,475,000 and Kilshane Cross is above €1,700,000

Cushman & Wakefield is handling the sale of both properties which have strong tenancies and asset management opportunities
Cushman & Wakefield is handling the sale of both properties which have strong tenancies and asset management opportunities

Two filling stations rented by Topaz close to Ashbourne, Co Meath, and Kilshane Cross near Finglas, Dublin, go for sale from today with a guide price of €5,175,000.

Brendan Smyth of agents Cushman & Wakefield is handling the sale of both properties which have strong tenancies and asset management opportunities.

Coolfore service station, priced in excess of €3,475,000, and showing a net yield of 7.91 per cent, has two showrooms and four workshops in addition to the newly refurbished Topaz service station.

Topaz occupies the front of the site at a rent of €282,240 a year with the option for the rent to be increased to the higher of either a 20 per cent increase or a figure linked to the Consumer Price Index every five years.

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There is an additional €4,800 a year coming from a gym at the rear of the site. The complex also includes two vacant showrooms.

The Kilshane Cross service station, for sale at over €1,700,000, is on the former N2 Dublin to Ashbourne road to the north of a busy intersection. Apart from the Topaz filling station there is also a restaurant, trade counter and workshop on site bringing in total rents of €174,456.

Another attraction is that a new owner will benefit from a 3 per cent fixed annual rent increase on the Topaz rent which is €126,000.

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times