4-5 DAWSON STREET DUBLIN 2

Transcription

1 4-5 DAWSON STREET DUBLIN 2 For Sale By Private Treaty (Tenants not Affected) Prime Investment Opportunity C3 G

2 AN EXCITING INVESTMENT OPPORTUNITY IN THE HEART OF DUBLIN 2 EXECUTIVE SUMMARY Located on Dawson Street in the heart of Dublin with extensive development happening in the immediate area A high profile mixed-use investment with accommodation extending to approx. 10,709 sq ft ( sq m) and 5 car parking spaces Leased to established occupier Trailfinders Ireland Limited, with office tenants above and a superb 2 bed apartment at penthouse level Currently generating a rental income of 399,360 per annum from 5 tenancies Offers sought in excess of 7,750,000 which equates to a net initial yield of 4.75% assuming standard purchasers costs of 8.46%

3 TRINITY COLLEGE 4-5 DAWSON STREET NATIONAL LIBRARY PROJECT KELLS Office/Retail Development Planning Granted Total area 200,000 sq ft DAWSON STREET / ONE MOLESWORTH STREET Office/Retail Development 88,500 sq ft 10 MOLESWORTH STREET Office Development 115,000 sq ft 40 MOLESWORTH STREET Office/Retail Refurbishment 32,000 sq ft ST. STEPHEN S GREEN NASSAU STREET MOLESWORTH STREET DAWSON STREET GRAFTON STREET LUAS CROSS CITY

4 LOCATION TRANSPORT 4-5 Dawson Street occupies a prominent position on one of Dublin s best known thoroughfares in the heart of the city centre. This well regarded retail and office location is moments from Grafton Street, greatly benefiting from high footfall and passing traffic. Dawson Street is undergoing phenomenal change at present. Both IPUT and Green REIT are developing state of the art office and retail properties on Dawson Street and Molesworth Street, which will bring high quality office occupiers and new exciting retailers to Dawson Street including the Ivy Group and Le Pain Quotidien. There are a number of major retailers located nearby, including: Costa Coffee, Hodges Figgis, Carluccio s, Starbucks with Grafton Street, Ireland s premier shopping street, situated less than a minutes walk away. The city s most important infrastructural project in many years, the Luas Cross City has recently been completed and runs the full length of Dawson Street connecting both the green and red lines. This has significantly increased the streets connectivity to the rest of Dublin city centre and for shoppers to move back and forth between the main shopping areas north and south of the city. There is a Luas stop located directly outside the property. The property also benefits from being located just 700 metres from Pearse Street DART station. There is also a Dublin Bike docking station located within 100 metres.

5 DESCRIPTION TENANCY SCHEDULE DEMISE TENANT TERM COMMENCEMENT TERM EXPIRY DATE OF LEASE BREAK OPTION CAR PARKING SPACES CONTRACTED RENT (ANNUAL) Basement Ground Floor First Floor Second Floor Third Floor Trailfinders Ireland Ltd Trailfinders Ireland Ltd Arca Vita International Ltd TWM Select Asset Management Ltd 01/11/96 20 years 31/10/16 n/a 1 222,500* 01/10/95 25 years 30/09/20 n/a 1 56,185 20/02/15 5 years 19/02/20 n/a 1 42,150 21/01/15 10 years 20/01/25 20/01/ ,925 2 Bed Penthouse Apartment - 18/09/17 12 months 17/09/18 n/a - 33,600 The Property comprises a 5 storey over basement mixed use building extending to approx. 10,709 sq ft ( sq m). Trailfinders Ireland Ltd occupy the basement, ground and first floors under 2 separate leases and have traded from the building since The upper floors are in office use and occupied by Arca Vita International & TWM Select. The offices have independent access from Dawson Street with good profile accessed via a glazed entrance into a lobby area with two passenger lifts. There is private access to a superb twobedroom apartment at 4th floor level with panoramic views of the city centre overlooking Trinity College and as far as the Spire on O Connell Street. The quality of light, space and fit out in the apartment is extremely attractive. 4-5 Dawson Street is not a protected structure and has possibly one of the best ground floor retail floor plates on the street. The ground floor retail area extends to approximately 2,900 sq ft of uncompromised retail accommodation. TOTAL 5 399,360 * Trailfinders Ireland Ltd are currently overholding on their basement and ground floor lease. The above schedule is provided on a without prejudice basis and for discussion or information purposes only. The agents, vendors, solicitors et al do not warrant the accuracy of the above in any way. ACCOMMODATION SCHEDULE FLOOR USE NIA SQ M NIA SQ FT GIA SQ M GIA SQ FT Basement Storage , ,788 Ground Retail , ,706 First Office , ,038 Second Office , ,001 Third Office , ,001 Penthouse Apartment Residential , ,982 TOTAL ,831 1, ,516 An assignable measured survey has been completed by ORS and is available on the data room. Any intended purchaser will need to satisfy themselves as to the exact of the subject property.

6 STAIRWELL WC GROUND FLOOR PLAN For illustration purposes only DAWSON STREET TYPICAL OFFICE FLOOR PLAN 1 ST - 3RD FLOOR For illustration purposes only LIFT LIFT STAIRWELL

7 DAWSON STREET OCCUPIER OVERVIEW For illustration purposes only OASIS LADIES WEAR DUKE LANE LOWER INSOMNIA COFFEE SHOP SPAR DUKE STREET FLYING TIGER HODGES FIGGIS BOOKSHOP STARBUCKS DESIGNER EXCHANGE CARLUCCIO S SEVEN WOOD FEATHERBLADE BAUMLER MENSWEAR MARCO PIERRE WHITE DAVY GROUP SPROUT LEMON CREPE & COFFEE CO MOOCH JUICE BAR HOUSE OF IRELAND DAWSON STREET COSTA COFFEE FLIGHT CENTRE TOWER RECORDS SOL ART GALLERY NEW IRELAND ASSURANCE DAWSON LANE THE IVY GROUP / LE PAIN QUOTIDIEN / BARCLAYS BANK / GOSHAWK MOLESWORTH STREET TRINITY COLLEGE KC PEACHES RESTAURANT THE FARM HEALTH FOOD 4-5 DAWSON STREET OPTICA COVENANT INFORMATION ARCA VITA INTERNATIONAL Arca Vita International is headquartered in Ireland. The Company s line of business includes providing intermediate or long-term general and industrial credit. According to Dun & Bradstreet, Arca Vita International has a rating of 4A1, representing a minimum risk of business failure. As of 31st December 2016, Arca Vita International has a stated financial position showing a tangible net worth of 22,419,765 and turnover of 39,001,275. TWM SELECT ASSET MANAGEMENT LIMITED TWM is a commercial property advisory firm with offices on Dawson Street in Dublin and Dockgate in Galway, specialising in investment, professional services and office agency work. TWM was founded in January 2010 and has a team of 11 experienced professionals. TRAILFINDERS IRELAND LIMITED Trailfinders was founded in 1970 and is currently the largest independently owned travel company in the UK and Ireland. It has 3 travel centres in the Republic of Ireland in Dublin, Cork and Limerick. The company remains privately owned and has a staff of over 1,000 employees who have made travel arrangements for over 15 million clients. Trailfinders offers their clients tailormade itineraries that can include flights, tours, hotels, cruises, car & motorhome hire across the globe. According to Dun & Bradstreet, Trailfinders Ireland Ltd has a rating of 5A1, representing a minimum risk of business failure. As of 28th February 2017, Trailfinders Ireland Ltd has a stated financial position showing a tangible net worth of 265,983,463 and turnover of 728,156,696.

8 SERVICE CHARGE A recoverable service charge is in place to manage the building. Further information available on the Data Room WEBSITE/DATA ROOM TITLE No. 4 is held under a Lease dated 16 February 1762 for a term of 999 years from 25 March 1762, subject to an annual nominal rent No. 5 is held under a Lease dated 13 January 1892 for a term of 900 years from 1 December 1891, subject to an annual nominal rent BER RATING C3 G Full Building Energy Rating certificates are available on the data room ZONING The property is zoned Z5: City Centre under the Dublin City Development Plan The local authority describes the zone as To consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity. VAT Further information available on the Data Room PROPOSAL Offers sought in excess of 7,750,000 which equates to a net initial yield of 4.75% assuming standard purchasers costs of 8.46% VIEWINGS All viewings are strictly by appointment through the sole selling agent AGENT 164 Shelbourne Road Ballsbridge, Dublin 4 T: +353 (0) W: Kevin Donohue T: +353 (0) E: kevin.donohue@cushwake.ie PRSA: No Jane Dolan T: +353(0) E: jane.dolan@cushwake.ie PRSA No Derry O Neill T: +353(0) E: derry.oneill@cushwake.ie PRSA No SOLICITOR Aideen Dennehy Smith Foy & Partners 59 Fitzwilliam Square, Dublin 2 T: +353 (0) E: aideen.dennehy@smithfoy.ie Conditions to be noted: 1. These particulars do not constitute an offer or contract or any part thereof and none of the statements contained in the particulars as to the property to be relied on as a statement or representation of fact. 2. The vendor does not make or give, nor is the Agent(s) or its staff authorised to make or give any representation or warranty in respect to this property. 3. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy himself/herself by inspection or otherwise as to the correctness of each of them. 4. In the event of any inconsistency between these particulars and the contract of sale, the latter shall prevail. 5. The terms, Vendor and Purchaser, where the context requires shall be deemed to refer to Lessor and Lessee and Landlord and Tenant respectively. 6. Prices are quoted exclusive of VAT (unless otherwise stated) and the purchaser/lessee shall be liable for any VAT arising on the transaction.

9 164 Shelbourne Road, Ballsbridge, Dublin 4 (01) cushmanwakefield.ie