THE former headquarters building of Belgard Motors and a separate service centre at the front of the Cookstown Industrial Estate on Belgard Road in Tallaght, Dublin 24, are going for sale today on the instructions of the official liquidator.
The business closed last November because of serious trading difficulties.
Brendan Smyth of DTZ Sherry FitzGerald, which is handling the sale on the instructions of liquidators Kavanagh Farrell, is not quoting a guide price but based on the depressed values in the area at this time, the general expectation is that the two buildings should make a combined sum of about €8 million.
The same agents are handling the sale and leaseback of the Topaz petrol filling station at Belgard Motors which has attracted more than 60 enquiries from investors over the past two weeks – easily the highest level of interest shown in any investment property over the past two years.
Topaz is paying a rent of €285,431 for the filling station under a 35-year lease from 2000 with five-yearly upwards-only rent reviews. A price of between €3.5 million and €4 million is likely to be obtained for the filling station.
The headquarters building, which could make around €5 million, has 4,046sq m (43,550sq ft) of floor space including a ground floor showroom and an overhead floor which served as a showroom and office.
Unusually, there are 125 car parking spaces on the roof of the building. The HQ block stands on a site of 0.49 of a hectare (1.2 acres).
A price in the region of €3 million is likely to be secured for the after sale centre which comprises the service, parts and body repair workshop with an overall area of 3,733sq m (40,182sq ft). Should a buyer not emerge, the liquidator is to consider letting the complex with a range of servicing equipment in place. The centre stands on a site of 0.72 of a hectare (1.7 acres).
The two buildings are within easy walking distance of the Belgard Luas station and, according to the selling agent, are suitable for conversion into a range of retail showrooms.
