McDonald’s building in Temple Bar sold for €6.25m
The 1880s building takes in rent of €350,000 a year with McDonald’s on 20-year lease
The building is in the centre of Temple Bar and has a floor area of 790 sq m (8,500 sq ft).
McDonald’s fast food building in Dublin’s Temple Bar has been acquired by a continental investor for €6.25 million. The deal will give the new owner a return of around 5.36 per cent.
The 1880s building owned by Fitzers Holding is let to McDonald’s on a 20-year lease from April 2013, at rent of €350,000 a year. A 10-year break option will give the new owner a trading certainty of at least six years.
Temple Bar’s continuing success as tourist area for younger people in particular has served McDonald’s well because of its prime location on the corner of the constantly busy square. The upgraded building has dual frontage and an overall floor area of 790 sq m (8,500 sq ft).
McDonald’s has been trading in Ireland since 1977 and has more than 80 restaurants across the country. The Irish business had a sale turnover of €80 million in 2014.
Kevin McMahon of Savills handled the sale of the Temple Bar investment.