McDonalds/KFC drive-thru sells for close to €4.5m

A Dublin ‘drive-thru’ investment just off the M50 and let to fast-food operators, McDonalds and KFC, with a rent roll of €290,000, has been bought for a private investment portfolio for close to €4.5m, showing a 6.7 % return.

The purpose-built drive-thru at Charlestown Shopping Centre, which is anchored by Dunnes, was developed by the Bailey brothers, of Bovale, and built by G&T Crampton, according to Ireland World Investments (IWI) managing partner, Richard Coffey.

He said he was “delighted to acquire such a high-profile investment, as it added significant value to an existing property port -folio”. Joint selling agents of the 2012-build, with easy access via Junction 5 to the M50, were Bannon and CBRE.

One unit is let to KFC on a 25-year lease at €141,400 pa, while McDonalds pay a rent of €150,000 pa, with no break options. MBCC Foods, who operate KFC, had a 2012 turnover of €38.7m in 2012, while McDonalds (Ire-land) had a 2012 turnover of €77.9m

Details: www.irelandi.com