€3.75m for Stillorgan medical centre

A south Dublin medical centre is new to the investment market this week with agent Savills quoting over €3.75million by private treaty for the Slievemore Clinic in Stillorgan.

The primary care centre is producing a rent roll of €298,000. If the guide price is achieved, an investor would secure a return of 7.61 per cent after standard purchaser’s costs.

Slievemore Clinic is a purpose-built medical centre that opened in 1997. It was expanded by the current owners in 2007 and now includes a team of general practitioners, nurses and physiotherapists, a dentist and a dental hygienist, allergy specialists with endoscopy facilities as well as doctors providing complementary medicine, acupuncture, laser and medical skin care.

In addition, the clinic has a clinical psychologist, an alcohol and addiction counsellor, a dietician/nutritionist, a consultant in rheumatology, ENT consultant, and ultrasound diagnostic services provided by a radiographer.

Dental clinic

The clinic is split over three levels and extends to 694sq m (7,470sq ft). It has extensive surface car parking to the front and is located just off the N11 on the Old Dublin Road.

Slievemore is fully let to a wide range of health professionals. It also includes a state-of-the-art dental clinic while CT Pharmacy Ltd has a 35-year lease from 2007 on space at the centre. Tenants at Slievemore are not affected by the sale.

The clinic is in a predominantly residential area. Nearby commercial occupiers include Stillorgan Park Hotel, Beaufield Mews restaurant and the Stillorgan Shopping Centre.