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26/07/2021

New Applegreen service station in Naas for sale - tenant not affected

New Applegreen service station in Naas for sale - tenant not affected

The newly-constructed Applegreen filling station in Millennium Park in Naas, Co Kildare has been put on sale for €4.75 million.

The premises extends to 393sq m (4,230sq ft) and sits on a 1.41-acre site.

The property comprises a forecourt and canopy, four double-sided petrol pump terminals, a car and jet wash, as well as HGV fast-fill pumps.

The Applegreen store incorporates a Bakewell Café, a Burger King restaurant and delicatessen, as well as a general shop and seating area.

The service station is let to Petrogas Ltd t/a Applegreen on a 25-year lease.

Petrogas pays € 270,000 rent for the first two years but this increases to €310,000 per annum for years three to five and thereafter.

There is a tenant break option at years 15 and 20.

Petrogas is a growing Irish company that operates over 193 service stations across Ireland with a growing presence in the UK and US being driven by revenue growth.

The retailer experienced a 33 per cent increase in gross profit in 2018, with EBITDA up 17 per cent to €19.3 million, the 

Extending to over 300 acres, Millennium Park benefits from a high volume of traffic thanks to an excellent tenant mix which includes Kerry Group, the HSE and AIB.

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