for sale

Topaz Service Station Portfolio

Kilshane Cross Service Station North Road, , Co & Coolfore Service Station Ashbourne, Co Meath lot 1

Coolfore Service Station Ashbourne, Co Meath lot 2

Kilshane Cross Service Station North Road, Finglas, Co Dublin

lot 3

THE ENTIRE Topaz Service Station Portfolio

Excellent investment opportunity to acquire a Topaz Service Station portfolio located in Dublin and Meath at high profile locations

Investment Summary proposal Unique petrol service station portfolio for sale in three lots. The property is for sale in 3 lots as follows; The anchor tenant at both locations is Topaz providing an excellent Lot 1: Coolfore, Ashbourne tenant covenant to the eventual purchaser. Offers sought in excess of €3,475,000 which equates to a net initial yield of Potential for full rental growth and asset management opportunities. 7.91% assuming standard purchasers costs of 4.46%. Well located service stations both located just off the M2 Motorway. Lot 2 : Kilshane Cross Offers sought in excess of €1,700,000 Coolfore Service Station, Ashbourne consists of the service station which equates to a net initial yield of along with two showrooms and four workshop premises. The total 9.82% assuming standard purchasers current rent is €287,040 per annum. costs of 4.46%. Lot 3: The Entire Kilshane Cross Service Centre, Finglas consists of the service centre Offers sought in excess €5,175,000 with additional revenue from a restaurant, trade counter and workshop. The total current rent is €174,456.99 per annum. lot 1

Coolfore Service Station Ashbourne, Co Meath

Location Description Accommodation

Coolfore Service Station is located to the Coolfore Service Station comprises a service station building Service Station – Topaz Sq M Sq Ft north of Ashbourne on the N2 Dublin along with two showroom premises (one which was to Road. The property is very well previously a restaurant) and workshop premises. Retail Area 125.56 1,352 Storage/Office Area 64.58 695 positioned, located on the east side of the Total 190.14 2,047 road benefiting from all the passing traffic The service station occupies a strong profile site. Measuring entering on the N2 motorway. approximately 1.11 ha (2.74 acres) the property comprises Showroom/ Restaurant a Topaz service station and forecourt with 16 petrol and Vacant 301.89 3,250 The N2 begins approximately 5 km to the diesel operational pumps covered by a steel frame canopy south of the property. The property is located and 3 truck pumps. The forecourt has the benefit of access Motor Showroom - Vacant approximately 7 km from Ashbourne, 22 km and egress onto the N2 Road along with substantial car from Junction 5 of the and 32 parking. A modern car wash is located to the side of the Showroom/Offices 267.97 2,884 Service Centre 123.22 1,326 km from Dublin city centre. convenience store. Total 391.19 4,211

The convenience store on the site consists of traditional build Workshop - Vacant under a flat roof and a rendered facade. It is branded as Unit A 94.59 1,018 ‘restore’ which is Topaz’s new retail brand. Unit B 94.59 1,018 Unit C 94.59 1,018 Further to the petrol station are three commercial premises Unit D 94.59 1,018 consisting of a motor showroom, restaurant and workshop Total 378.36 4,072 premises. Planning Planning Permission was procured under Planning Reference DA/30339 in or about October of 2003, which was planning for the demolition of existing buildings on site and the construction of a one single storey restaurant with car and truck parking, a one single storey car showroom/garage with car display, car compound, customer parking and a one single storey petrol station with forecourt and retail shop, truck refuelling facility, underground tank farms, over-ground water storage tank, illuminated canopy, car washes with recycling system, trash compound etc.

Tenancy The service station is let to Statoil Ireland Limited, now Ard Services and trading as a Topaz Service Station. They are in occupation on a 20 year lease from 25 February 2004 at a rent of €282,240 per annum. There is a tenant break option in February 2019 and rent is reviewed every five years to the higher of either a 20% increase or CPI linked.

Workshop Unit C is occupied by Hybrid Gym who were in occupation on a one year lease which has expired and are now overholding. They are paying a rent of €4,800 per annum.

Total Current Rent €287,040 per annum

Title The property is held Freehold

Guide Offers sought in excess of €3,475,000 which equates to a net initial yield of 7.91% assuming standard purchasers costs of 4.46%. The sale is subject to VAT. lot 2

Kilshane Cross Service Station North Road, Finglas, Co Dublin

Location Description Accommodation

The subject property is located on the The subject property comprises of a have also the use of 1st floor storage and Topaz Convenience Store sq M sq Ft R135 approximately 150m north of service station building along with ancillary office accommodation. Retail Area 110.74 1,192 Kilshane Cross. It is situated just off the café, retail and workshop premises. Storage/Office Area 44.3 477 N2 motorway and is accessed through The cafe unit is located to the right hand Total 155.04 1,669 the exit for Coldwinters. The service station occupies a good profile side of the entrance and is occupied by Restaurant Unit site measuring approximately 0.30 Ha Skyland Cafe Limited and consists of Restaurant Area 74.93 809 The property is located in a good (0.74 acres) with a Topaz service station restaurant and seating area on the ground Storage/Office Area 53.4 575 location with a significant amount and forecourt with 10 petrol and diesel floor and 1st floor storage and office areas. Total 128.33 1,381 of passing traffic daily. The subject operational pumps covered by a steel Trade Counter property is located approx. 10km from frame canopy. The forecourt has the There is a further trade counter premises 1st Floor 109.93 1,183 Dublin city centre and 2.5km from benefit of access and egress onto the located on the 1st floor occupied by Turbo Junction 5 of the M50. R135 along with car parking on site. A Tech and accessed to the rear of the Communal Areas modern car wash occupies the side of the building. Ground Floor 42.92 462 1st Floor 25.01 269 convenience store building along with a Total 67.93 731 hand wash area. A warehouse is located to the south of the site and currently operated as a car Service Centre/Workshop The convenience store on the site consists workshop. This consists of concrete frame Warehouse 136.08 1,465 of ground floor unit with Topaz’s standard construction with concrete block walls Steel Mezzanine 38.38 413 Re-Store fit out, accessed to the left of a under a metal deck roof. The property is in Total 174.46 1,878 shared entrance with the cafe unit. Topaz good condition throughout. Planning Planning Permission was obtained under Planning Reference F00A/1287 to develop an existing restaurant and petrol service station on the site to consist of the demolition of buildings and canopy, the decommissioning of underground storage tanks, the construction of a new, two storey restaurant/retail shop building, new illuminated canopy, new forecourt, new underground tank farm etc.

Tenancy Petrol Station and Convenience Store The petrol station and convenience store is let to Fareplay Energy Limited (a registered name of Topaz) from 23 September 2012 for a term of 10 years commencing on the 12 April 2012. The rent is staggered from year 1 at €112,000.00 per annum increasing incrementally from year 1 at €112,000.00 compounded by 3% per annum thereafter. Current rent payable is €126,056.99 per annum. This increases to €129,838.70 in year 6, €133,733.86 p.a. in year 7, €137,745.87 in year 8, €141,878.25 p.a. in year 9 and €146,134.60 p.a. in year 10.

Restaurant Unit The restaurant/cafe premises is let to Skyland Cafe Limited by Lease of the 22 January 2002, for a term of 20 years from the 01 January 2002. The current rent payable is €26,000 per annum.

1st Floor Trade Counter Turbo tech occupy the first floor trade counter paying €10,400 per annum + VAT and are in occupation on a verbal agreement.

Workshop The workshop is let to 2 mechanics on a verbal agreement for approximately 2 years at €12,000 per annum plus VAT.

The total current rent amounts to €174,456.99 per annum with the Topaz income increasing 3% annually.

Title The property is held Freehold

Guide Offers sought in excess of €1,700,000 which equates to a net initial yield of 9.82% assuming standard purchasers costs of 4.46%. The sale is subject to VAT. Balbriggan

M3 R122 Rathfeigh

Skryne R152 Naul R132 M1 Skerries

Garristown R130 R147 R127 N2 R108 R128 BER RATING C3 F

Curragha Full building Energy Rating Certificates available Coolfore R129 R132 on request. R155 Lusk Rush Oldtown Ballyboughal R125 R128 Dunshaughlin Ashbourne R127 R135 Tenant Covenant M1 M3 R108 Portrane The properties are occupied by Fareplay R125 M2 Donabate Energy Limited which is a registered name of R155 The Rath R126 Fleenstown Topaz and Statoil Ireland Limited which Topaz R154 R130 R122 R125 acquired in the mid 2000’s. Topaz is the leading fuel retailer in the country R156 Swords R121 R106 Malahide with over 444 outlets around the country.

N2 Kilshane Cross Aliementation Couche Tard acquired Topaz in early 2016 and now operate a global network Kilcloon M1 R108 Portmarnock of over 15,000 service station outlets. R122 Dunboyne Clonee R132 We carried out a Dun and Bradstreet Report on M50 R106 Fareplay Energy Limited which shows a 0.21% R139 N3 R843 Ballymun Donaghmede risk incidence of failure rate and that 0% of Irish R157 R104 businesses have a lower risk of failure. Finglas Sutton Dublin Howth Maynooth R121 R135 Raheny R148 R102 R102 R103 M4 R405 R149 R105 Drumcondra R105 Leixlip R109 R147

Jane Dolan Johnny Hanrahan Senior Investment Surveyor Senior Surveyor T: +353 (0)1 639 9225 T: +353 (0)1 639 9215 E: [email protected] E: [email protected]

CONTACT Cushman & Wakefield, Brendan Smyth Kevin Donohue Director Director 164 Shelbourne Road, Ballsbridge, Dublin 4. T: +353 (0)1 639 9383 T: +353 (0)1 639 9234 T: +353 (0) 1 639 9300. Web: cushmanwakefield.ie E: [email protected] E: [email protected]

Conditions to be noted: 1. These particulars do not constitute an offer or contract or any part thereof and none of the statements contained in the particulars as to the property to be relied on as a statement or representation of fact. 2. The vendor does not make or give, nor is the Agent(s) or its staff authorised to make or give any representation or warranty in respect to this property. 3. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy himself/herself by inspection or otherwise as to the correctness of each of them. 4. In the event of any inconsistency between these particulars and the contract of sale, the latter shall prevail. 5. The terms, Vendor and Purchaser, where the context requires shall be deemed to refer to Lessor and Lessee and Landlord and Tenant respectively. 6. Prices are quoted exclusive of VAT (unless otherwise stated) and the purchaser/lessee shall be liable for any VAT arising on the transaction. 7. The Vendor reserves the right not to accept the highest or any offer made.