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

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.

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.