Applegreen in Gorey for €1.2m

Colliers International is quoting €1.2 million for the Applegreen service station at Courtown Road, Gorey in Co Wexford, which is to be sold by private treaty at a net initial yield of 12 per cent. The property comprises a refurbished service station on a site of 0.37 of an acre with four double-sided petrol pump terminals under a canopy with an automated car wash and service bay. There is a shop and deli on site extending to 160sq m (1,727sq ft).

The service station is held under a 25-year lease to Petro Gas Group at a passing rent of €150,000 per annum. The lease dates back to 2005 and includes a break option in year 15.