Agent Lisney is seeking offers of more than €3 million for the Circle K filling station on Taney Road in Goatstown, Dublin 14.
Located in a prominent position immediately adjacent to The Goat Bar & Grill, the landmark venue owned and operated by veteran publican Charlie Chawke, the subject property offers the prospective purchaser the benefit of immediate and secure rental income along with future development potential (subject to planning permission).
The investment is situated on a 0.1-hectare (0.4-acre) plot and is let to Circle K from 2014. Circle K recently extended its lease to a 12-year unexpired term with no break options. The passing rent is €200,000 per annum.
The property also benefits from a roof mast that is leased on a five-year licence from 2021, providing a further €23,400 per annum. This brings the overall income to €223,400 per annum. The guide price of €3,000,000 reflects a net initial yield of 6.77 per cent after the deduction of standard acquisition costs at 9.96 per cent.
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Thomas Byrne, of Lisney’s investment division, says he expects the subject property to attract considerable interest from investors due to its attractive remaining lease term and future development potential.
“It’s a great opportunity to acquire a long-term investment opportunity let to a blue-chip tenant,” he says
