Toyota pays €2.5m for Longmile Road site

Agents Lambert Smith Hampton originally guided €1.7m for modern building at request of receiver

The prominent motor showrooms and workshop at Longmile Road in west Dublin

The prominent motor showrooms and workshop at Longmile Road in west Dublin

 

Toyota has bought a prominent motor showrooms and workshop at Longmile Road in west Dublin.

Tim Scannell of agents Lambert Smith Hampton originally guided €1.7 million for the modern building at the request of receiver Tom Kavanagh of Kavanagh Fennell.

But with a larger number of inquiries and offers than expected from the motor trade Toyota stepped in with a knockout bid of €2.8 million.

The 1,044sq m (11,237sq ft) premises standing on a 1.1-acre site had been rented by the Frank Keane motor group until it availed of an opportunity to exercise a break option and vacate the premises last December.

That business later transferred to the former Bill Cullen Renault facility at Liffey Valley which was sold to Frank Keane for a figure believed to be about €2.5 million.