Investments:With the tax year now ending, investors will be interested in a crèche investment going for sale today with significant capital allowances.
Barbara Lennon of Savills HOK is seeking over €3 million for the crèche at the Stationcourt development in Coolmine, Dublin 15. Capital allowances will be available on 90 per cent of the purchase price.
At the asking price, the initial yield will be 4.98 per cent before the value of the capital allowances is taken into account.
The crèche extends to 628sq m (6,760sq ft) and is let on a long term lease to Giraffe Childcare at a rent of €166,350 per annum. There are 14 designated customer car-parking spaces on site.
The crèche was developed by Castlethorn Construction and is close to Coolmine village and the local train station. Stationcourt is a modern residential development close to Blanchardstown shopping centre.
"This should be a highly sought-after investment as it has both a very attractive level of capital allowances and is let to a secure covenant," says the selling agent.
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