In excess of €1m sought for garage business in north Dublin

Agent Knight Frank is seeking in excess of €1 million for the First Stop Tyres service centre at Clare Hall in Dublin 17, which will show a net return of over 9.2 per cent.

Located on a high-profile site on the Malahide Road adjacent to Clare Hall shopping centre, the service centre is let on a 25-year lease from 1998 at a rent of €96,500 per annum.

The modern detached garage extends to 479sq m (5,159 sq ft) and includes a ground floor office block to the side with additional mezzanine storage on the site of 0.27 of an acre. There is ample customer and staff car-parking to the front of the property .

Planning permission was previously granted in 2014 by Dublin City Council for a change of use from the existing car-type garage to two retail units extending to 123sq m (1,324 sq ft) and 317 sq m (3,412 sq ft).

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Next door, planning permission was recently granted for a substantial mixed-use development of 11,394 sq m (122,643 sq ft) to include a two- and three-storey convenience store, cafe/restaurant, retail workshop and a six- and seven-storey nursing home. There are unconfirmed reports that Aldi is to occupy the convenience store.