McDonald’s Lucan drive – thru sold for €2.26 million

THE MCDONALD’S drive-thru restaurant on Dublin Road in Lucan has sold for €2.26 million, well over the guide price of €1.77 million, reports Aideen O’Flaherty.

The 3,352 sq. foot property, which provides seating for approximately 90 customers, has a net initial yield of 5.5 per cent.

The property came on the market last November through the agents Cushman & Wakefield.

The building was let to McDonald’s Restaurants of Ireland Limited on a 35 year lease from May 2005, with a current passing rent of €130,000 per annum.

The lease also includes a five yearly upward only rent review based on the premises as a whole.

The property is located approximately 800 metres outside Lucan town centre, and is considered to be in an attractive location due to the area’s reputation as a fast growing commuter suburb.

It is also in an accessible location, just off the N4 dual carriageway which connects Dublin to Galway and is near Adamstown.

The single-storey property underwent a large refurbishment last April and is situated next to a busy Maxol garage.

McDonald’s has more than 80 restaurants and over 4,000 employees throughout the country.

The company recorded sales of almost €85 million in Ireland in 2015.