Office buildings at Beech Hill campus in Clonskeagh for sale

One of the original office buildings at Beech Hill office campus in Clonskeagh, Dublin 4, goes for sale from today at a guide price of €7.5 million and a net initial yield of 5.88 per cent.

Danielle Rocca Devine of BNP Paribas Real Estate is handling the sale of the investment, Topaz House, which is rented by the Topaz filling station company at a current rent of €460,000 per annum.

The three-storey detached block has an overall floor area of 1,985sq m (21,366sq ft) and 68 surface car parking spaces let to Topaz Energy on a 35-year lease from September 1991. Topaz recently carried out a comprehensive internal refurbishment of the building.

The Topaz network of more than 460 filling stations was sold last February by businessman Denis O’Brien to the listed Canadian retailer Alimentation Couche-Tard for a figure reported to have been about €450 million. The new owners now use Topaz House as its Irish headquarters.