IFSC INVESTMENT OPPORTUNITY GEORGES DOCK GEORGE S DOCK IFSC, DUBLIN 1 J.P. MORGAN HEADQUARTERS

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1 IFSC INVESTMENT OPPORTUNITY GEORGE S DOCK IFSC, DUBLIN 1 GEORGES DOCK J.P. MORGAN HEADQUARTERS TENANT NOT AFFECTED / Subject to Contract / Contract Denied

2 Investment Highlights 5A2 D&B Single let to J.P. Morgan (Ireland) Plc, formerly Chase Manhattan Bank Tenant has a D&B rating of 5A2 providing an excellent covenant on the lease The property extends on a net internal area basis (NIA) to 44,483 sq ft (4,132 sq m) with 46 no. car spaces Quality modern office building with high specification including raised access floors, air conditioning, and impressive entrance areas 2

3 GEORGE S DOCK GEORGES High profile building in the heart of the IFSC Passing Rent: 1,804,748 per annum Upwards only rent reviews ONE GEORGE S DOCK 3

4 GARDINER ST LOWER MARLBOROUGH ST CONNOLLY STATION GEORGES DOCK O'CONNELL STREET AMIENS STREET GEORGES GEORGE S DOCK BUS STATION ET T MIDDLE ACHELORS WALK R i v e r L i f f e y ASTON QUAY GRAFTON STREET CROSS CITY ABBEY ST LOWER EDEN QUAY DAWSON STREET BURGH QUAY NASSAU STREET ST STEPHENS GREEN NORTH TARA STREET TOWNSEND STREET TRINITY COLLEGE KILDARE STREET CUSTOM HOUSE CUSTOM HOUSE QUAY GEORGE'S QUAY TARA STREET STATION CITY QUAY MERRION SQUARE PEARSE STREET STATION WESTLAND ROW LOMBARD STREET GEORGE S DOCK Ri v e r L if f e y WINDMILL LANE HANOVER STREET PEARSE STREET PEARSE STREET MERRION ST UPR FENIAN ST MERRION SQ NORTH MERRION SQ SOUTH NORTH WALL QUAY LIME STREET LOWER MOUNT ST. GUILD STREET SIR JOHN ROGERSON S QUAY MACKEN STREET LOWER GRAND CANAL ST Convention Centre Bord Gáis Theatre SIR JOHN ROGERSON S QUAY GRAND CANAL QUAY G r a n d C a n a l D o c k PEARSE STREET GRAND CANAL DOCK STATION HANOVER QUAY BARROW STREET NORTH WALL QUAY BENSON STREET G ST STEPHENS GREEN REEN EAST BAGGOT STREET GEORGES DOCK GARDINER ST LOWER MARLBOROUGH ST GEORGES GEORGE S CONNOLLY DOCK STATION AMIENS STREET BUS STATION GEORGE S DOCK Y LK CROSS CITY ABBEY ST LOWER EDEN QUAY BURGH QUAY TARA STREET TOWNSEND STREET LUAS Red Line TRINITY COLLEGE CUSTOM HOUSE CUSTOM HOUSE QUAY GEORGE'S QUAY TARA STREET STATION CITY QUAY PEARSE STREET OW LOMBARD STREET Ri v e r L if f e y WINDMILL LANE HANOVER STREET PEARSE STREET PEARSE STREET NORTH WALL QUAY LIME STREET GUILD STREET SIR JOHN ROGERSON S QUAY ET Convention Centre LUAS Green Line LUAS Cross City Dart Dublin Bike Station Dublin Bus Air Coach 747 Airlink Bord Gáis Theatre CANAL QUAY HANOVER QU G r a n d C a n a l D o c k NOR SIR JOHN ROGERSON S QUA

5 GEORGE S DOCK GEORGES LOCATION George s Dock, IFSC is the most accessible office location in Dublin City Centre, benefiting from unrivaled public transport links providing ease of access to the entire city. The International Financial Services Centre (IFSC) is Dublin s principal financial district and a well established commercial location which is home to over 430 international and domestic companies. Connolly DART and main line rail station and the Luas Red Line interchange is located 250 metres north west of the property. Luas Cross City will connect the existing Luas Green and Red Line, further enhancing accessibility and connectivity with the south side of the city. The location provides rapid access to Dublin Port (10 minutes), East Link Bridge (5 minutes) and Dublin s International Airport (30 minutes). The pedestrian bridge and the Samuel Beckett Bridge have reinforced strong connections between the IFSC and the South Docklands. The immediate area is home to a number of high profile office tenants including; Danske Bank, KPMG, Wells Fargo, AIG, Citibank, at KBC Bank and Zurich Bank. ONE GEORGE S DOCK 5

6 Local AMENITIES There is a host of facilities and amenities in the vicinity including hotels, cafes, bars, restaurants and convenience stores. Notable landmarks located in the vicinity include; The Convention Centre approximately 750 m east, the 3 Arena approximately 1.5 km east, and the property is located directly acrossfrom the CHQ retail centre. 6

7 GEORGE S DOCK GEORGES DUBLIN S PRINCIPAL FINANCIAL DISTRICT AND WELL ESTABLISHED COMMERCIAL LOCATION ONE GEORGE S DOCK 7

8 NEW CENTRAL BANK OF IRELAND HEADQUARTERS CONVENTION CENTRE DUBLIN BOI AIG MATHESON A&L GOODBODY AIRBNB MCANN FITZGERALD DILLON EUSTACE FACEBOOK GEORGE S GES DOCK PWC 8 CONNOLLY STATION (DART,LUAS,RAIL) BELFIUS BANK BNP PARIBAS BBVA IRELAND KPMG WELLS FARGO CHQ BUILDING CITI GROUP ZURICH

9 THREE BLOOMBERG GOOGLE ACCENTURE HMH RIVERDEEP KBC BANK GEORGE S DOCK GEORGES SIG SMBC SCOTIA MORGAN STANLEY REALEX RIOT GAMES GRANT THORNTON STRIPE TWITTER ULSTER BANK

10 10 UNRIVALED PUBLIC TRANSPORT LINKS AND ROAD NETWORK

11 GEORGE S DOCK GEORGES DESCRIPTION ONE GEORGE S DOCK COMPRISES A FIVE STOREY OVER BASEMENT OFFICE BUILDING EXTENDING TO APPROXIMATELY 44,483 SQ FT (4,132 SQ M) OF NET INTERNAL SPACE. IT IS CONSTRUCTED TO A VERY HIGH STANDARD WITH A CONCRETE FRAME, RED BRICK FAÇADE, CUT STONE ENTRANCE, DOUBLE GLAZED ALUMINIUM FRAMED WINDOWS AND A FLAT ROOF. THE BUILDING HAS 46 CAR SPACES IN A BASEMENT CAR PARK ACCESSED FROM GEORGE S DOCK. The building is of regular configuration consisting of a main rectangular floor plate with a small return section at either end incorporating service cores and ancillary office space. The accommodation is laid out in a combination of open plan, cellular offices and meeting rooms and fitted out generally with raised access floors and suspended ceilings. The reception and core area specification includes: tiled floor, plastered and painted ceilings with recessed light fittings. ONE GEORGE S DOCK 11

12 STAIRS STAIRS Layout / SPECIFICATION: 5 storey over basement extending to approximately 44,483 sq ft (4,132 sq m) NIA. 30 m frontage to George s Dock. Service core located at the front wing at each level incorporating two Kone 10 person / 800 kg lifts serving all floors from basement to fourth floor and male and female toilet accommodation on each floor. Staff canteen fitted with steel commercial catering kitchen and carvery display/ service area. Floor to ceiling heights ranging from 2.74 m 2.76 m. The basement is laid out to provide 46 secure car parking spaces and access is shared with the adjoining building. Heating / cooling / ventilation is provided via four pipe fan coil system. The tenant is mid way through a new fit out program whereby the first and second floors are being refurbished, the third and fourth floors have already been completed and the ground floor is due to be commenced shortly. Floor Plan / TYPICAL LIFT LIFT TOILETS A fully assignable measured survey had been undertaken on an NIA and IPMS basis and is available on the dataroom. 12

13 GEORGE S DOCK GEORGES Tenancy DETAILS Overview Lease J.P. Morgan Bank (Ireland) plc, formerly Chase Manhattan Bank (Ireland) plc. 25 year FRI lease from 6 December 1996 (5.15 years unexpired) 5 yearly upwards only rent reviews Passing rent of 1,804,748 per annum At review the rent will be 80.44% of open market rental value for the remainder of the lease On lease expiry rent payable will revert to 100% of open market rental value No break option NO 1 GEORGE S DOCK Floor Size Sq. Ft. NIA Cars Tenant Commencement Break Option Expiry Rent pa Entire 44, J.P. Morgan (Ireland) plc 06/12/1996 n/a 05/12/2021 1,804,748 Recent Tenant Upgrades The tenant has carried out various works in recent years including; provision of a an uninteruptable power supply, upgrade fit out works, boiler replacement etc. Details of the works and Landlord s licences for the works are located in the datasite. ONE GEORGE S DOCK 13

14 14 TENANT INFORMATION JP Morgan Bank (Ireland) plc (previously Chase Manhattan Bank (Ireland) plc) have a Dun & Bradstreet risk rating of 5A 2 (Financial strength: 5A) - based on tangible net worth $360,829,570; Risk Indicator: 2 - Lower than average risk of business failure).

15 GEORGE S DOCK GEORGES THE IFSC IS THE CORE LOCATION OF FINANCIAL SERVICES IN THE CITY Market INFORMATION The Dublin office market continues to perform well with strong demand, continuing rental growth, and increased construction activity. The Dublin office market totals 37 million sq. ft. and 19 million sq. ft. is in the city centre. The IFSC represents approximately 8.9% of the Dublin city centre office market. Overall vacancy in the market now stands at 7.8% and the city centre Grade A vacancy rate is just 3.3%. The overall vacancy rate for the IFSC is currently 4.5% which is significantly below the Dublin average. Demand for the overall Dublin market remains strong and it is anticipated to continue to be ahead of long-term averages, with in excess of 2.5 million sq. ft. of take-up expected for Dublin city centre remains the focus of demand in the office market, accounting for 61% of take-up in the year to date. In the last 12 months, 73% of deals in Dublin 1 have been less than 10,000 sq. ft. There was only 1 deal greater than 40,000 sq. ft. Rents vary depending on location and quality, but prime city centre rents are now in the region of 55 to 65 per sq. ft. ONE GEORGE S DOCK 15

16 TITLE The property is held under long leasehold title. BER RATING Ber No: EPI: kwh/m²/yr SOLICITOR Mel Ferguson Sheehan & Company Solicitors 1 Clare Street Dublin 2 Tel: fergusonm@sheehanandco.ie VIEWING Strictly by appointment through JLL as sole selling agents. Styne House Upper Hatch Street Dublin, D02 DY27 CONTACT JOHN MORAN Managing Director +353 (0) John.Moran@eu.jll.com LAURA TORPEY Senior Surveyor +353 (0) Laura.Torpey@eu.jll.com DECLAN SEXTON Senior Surveyor +353 (0) Declan.Sexton@eu.jll.com PSP Licence No: The particulars and information contained in this brochure are issued by JLL on the understanding that all the negotiations are conducted through them. Whilst every care has been taken in the preparation of the particulars and information they do not constitute an invitation to treat, an offer or a contract of any nature whether express or implied. All descriptions, dimensions, maps, plans, artists impressions, references to condition, permissions or licences of use or occupation, access and other details are for guidance only and may be subject to change, without prior notification. The particulars and information are given in good faith but no intending purchaser/tenant should rely on them as statements or representations of fact and is specifically advised to undertake its own due diligence (at its own expense) to satisfy itself as to the accuracy and/or correctness of the particulars and information given. None of JLL, its employees, agents or affiliate companies, makes any warranty or representations whether express or implied with respect to the particulars and/or information and which are to the fullest extent permitted by law, disclaimed; furthermore, such parties accept no liability in respect of any loss suffered by any intending purchaser/tenant or any third party arising out of the particulars or information. Prices are quoted exclusive of applicable taxes such as VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchaser/lessee shall be liable for any applicable taxes or VAT arising out of the transaction. 16 Brochure design by