Sale agreed reached on McDonald’s site

Sale agreed has been reached on the McDonald’s restaurant complex located within the Pullamore Business Park on the N3 outside Cavan Town.

The property, which also includes two workshop units currently leased to the National Car Testing service (NCT) and a local veterinary practice, had gone on the market with a €1.8 million price tag attached.

The sale of the fast foot drive thru was connected to another similar development put up for sale in Shannon, Co Clare, listed at €1.2M).

The properties were available to purchase together or separately through Bannon Commercial Property Consultants, and similarly sale agreed has been reached on it too.

The McDonald’s drive-through restaurant (2,979 sq ft) in Cavan generates annual rental income of €90,304.

McDonalds recently agreed a Deed of Variation (DOV) to extend their lease term by 15 years from the September 12, 2025, paying €90,304 p.a.

There are five yearly rent reviews, with the next review date scheduled for the 12/09/2030.

The NCT Centre, located to the rear of the business park, is on a 40-year lease from January 2000, with an option to break on July 1, 2023. The rent is €28,689 p.a, while private veterinary practice occupies the middle unit on a 10-year lease from January 1, 2024, paying €20,000 p.a.