INTERNATIONAL HOUSE IFSC DUBLIN 1
THE OPPORTUNITY RECOVERY IN RENT IS WELL UNDER WAY WITH LETTINGS IN SIMILAR BUILDINGS AT 47 PER SQ FT IN THE IFSC The Opportunity 2 Harbourmaster III is located in the heart of the International Financial Services Centre and offers an excellent opportunity to access the rising office market in one of Dublin s most established business districts OFFERING a six storey Grade A office building extending to 4,919.1 sq m (52,948 sq ft) completed in 1995 with 52 car parking spaces including 42 at basement level FULLY LET TO A HIGH CALIBRE OF TENANTS including Depfa Bank Plc, Danske Bank, ANP International Finance, WGZ Bank Ireland and Afilias with a WAULT of approximately 4.38 years PASSING RENT of approximately 2.456 million per annum The Opportunity 3 ASSET MANAGEMENT OPPORTUNITIES to take surrenders and refurbish floors to drive rental evidence FOR SALE by Private Treaty (Tenants not affected)
THE IFSC IS LOCATED IN THE INTERNATIONAL FINANCIAL SERVICES CENTRE (IFSC), DUBLIN 1, ONE OF THE LEADING FINANCIAL SERVICES LOCATIONS IN WESTERN EUROPE The IFSC 4 The IFSC was established in 1987 and is now a prestigious integrated development located in central Dublin, which incorporates world-class office accommodation, educational institutions, convention centre, executive housing, hotels, restaurants and shopping facilities. The IFSC now accommodates many of the world s premier financial institutions together with the leading professional services firms that support them. There are currently over 400 companies trading in the location including JP Morgan, Citibank, AIG Life, Depfa Bank, Merrill Lynch, A&L Goodbody, PWC and KPMG. The IFSC 5
Eastpoint Business Park 1 Yahoo 2 Gibson Hotel 3 2 1 4 39 5 PWC 6 Credit Suisse 7 OPW 8 Convention Centre Dublin 9 5 Susquehanna 20 25 Zurich 21 CO ST NNO AT IO LLY N 24 GEORGE S DOCK 57 28 27 19 Wells Fargo 27 JP Morgan 29 20 58 Rabobank 30 BNP Paribas 31 Hedgeserv 32 Regus 35 Aviva Stadium 36 Mason Hayes & Curran 37 Google 38 Airbnb 39 State Street 40 Matheson 41 Beauchamps 42 McCann Fitzgerald 43 The Samuel Beckett Bridge 44 Facebook 45 The Marker Hotel 46 Bord Gais Theatre 47 NTMA 48 Le Bruin Private 49 Bloomberg 50 Verizon 51 KBC 52 Morgan Stanley 53 BNY Mellon 54 Chartered Accountants Ireland 55 Pearse Station 56 Trinity Collage 57 Grant Thornton 58 Ulster Bank 21 Citco 26 KPMG 28 55 56 29 Custom House 22 Maxol 25 54 18 30 34 23 22 7 Société Générale 19 AIB 31 26 52 53 FEY 16 CHQ 18 Deustche Bank 24 17 32 Jurys Hotel 17 51 LIF 15 Depfa Bank 16 Bus Aras 23 ER 14 Citibank 14 46 50 RIV 13 Spencer Hotel 13 48 47 49 12 A&L Goodbody 12 44 33 36 43 11 10 AIG 11 42 9 8 37 45 41 6 Bank of Ireland 15 6 40 7 Commerzbank 10 34 38 4 3 AL N CA D KS N C RA DO New Central Bank HQ 35 G 3 Arena 33
LUKE ST Transportation 8 TRANSPORTATION Harbourmaster III enjoys excellent transportation links with Busáras offering intercity bus services within a couple of minutes walking distance. Connolly Train Station offering DART, Arrow Suburban Rail and regional services and the LUAS Red line is practically outside the front door. GARDINER STREET BERESFORD TARA STREET JAMES JOYCE STREET POOLBEG ST PLACE TOWNSEND STREET New Square NASSAU STREET SETANTA PLACE MOLESWORTH ST KILDARE STORE STREET GEORGE S QUAY STREET ST STEPHEN S GREEN TALBOT STREET Custom House Busárus Tara Street Station George s Quay Trinity Capital Hotel Heraldic Museum FOLEY STREET Huguenot Cemetery TALBOT PLACE STORE STREET MEMORIAL ROAD AMIENS STREET LUAS under construction SHERIFF STREET LOWER Merrion Square COMMONS STREET MAYOR STREET LOWER NC Iris Dublin City Library & Archive SEVILLE PLACE National College of Ireland SHERIFF STREET UPPER CUSTOM HOUSE QUAYNORTH WALL QUAY NORTH WALL QUAY MOSS STREET SHAW ST PEARSE STREET PEARSE STREET LEINSTER ST SOUTH National Library National Museum Garda Rugby Ground College Park Leinster House MARK STREET National History Museum Government Buildings Talbot Memorial Bridge National Gallery MERRION STREET UPPER HARBOUR MASTER PLACE CITY QUAY PRINCES ST SOUTH GLOUCESTER STREET TOWNSEND STREET Trinity College Famine statues Liffey Voyage WESTLAND ROW CUSTOM HOUSE HARBOUR LOMBARD STREET EAST LINCOLN PLACEFENIAN CUMBERLAND STREET SOUTH TOWNSEND ST STREET SANDWITH STREET ORIEL STREET UPPER SHERIFF STREET LOWER HANOVER STREET EAST HANOVER STREET EAST CLARE STREET MERRION SQUARE NORTH MOUNT STREET LOWER Merrion Hotel Mont Clare Hotel Connolly Station MERRION SQUARE WEST MERRION ST LWR INNER DOCK GEORGE S DOCK Custom House Plaza Davenport Hotel IFSC MERRION SQUARE SOUTH MAYOR STREET The chq building Sean O Casey Bridge Alexander Hotel Jury s Inn Pearse Station CREIGHTON STREET BOYNE STREET Dublin City Moorings WINDMILL SANDWITH STREET MERRION SQUARE EAST LANE HOLLES STREET Mayor Square ERNE STREET UPPER EXCISE WALK ERNE STREET LOWER LIME STREET BOYNE ST ERNE PL Clarion Hotel HARMONY ROW BRUNSWICK PL GUILD STREET CARDIFF LANE MISERY HILL PEARSE STREET RINGSEND ROAD GT CLARENCE PLACE HOGAN PLACEGRAND CANAL STREET LOWER GRATTAN STREET EBLANA VILLAS Samuel Beckett Bridge (2010) ALBERT ST E MACKEN STREET Docklands Station Convention Centre (2010) PARK LANE GRAND CANAL QUAY GRAND CANAL QUAY FORBES STREET CLANWILLIAM PLACE ABERCORN ROAD ASGARD ROAD NEW WAPPING STREET BLOOD STONEY ROAD BARROW STREET EAST ROAD Grand Canal Dock Station GRAND CANAL STREET UPPER MARINE SCHOOL WALK SHERIFF STREET UPPER CITY QUAY SIR JOHN ROGERSON S QUAY SIR JOHN ROGERSON S QUAY National Maternity Hospital Holiday Inn Pearse Square Linear Park ROYAL CANAL Maldron WHITAKER Hotel SQUARE Spencer Dock Diving Bell Grand Canal Theatre (2010) Liffey Ferry Admiral Brown statue Chimney Park CHIMNEY VIEW Grand Canal Square Trinity Enterprise Centre Cill Airne GRAND CANAL Central Square HORSE FAIR Waterways Visitor Centre Boland s Mill Grand Canal Hotel LUAS under construction HANOVER QUAY RIVER LIFFEY Chocolate Factory Park BENSON STREET GRAND CANAL DOCK DOCK STREET SOUTH GORDON STREET CASTLEFORBES ROAD SOUTH Future development GREEN STREET EAST CHARLOTTE QUAY Gasworks LOTTS ROAD 9 SOUTH LOTTS ROAD Transportation BRITAIN QUAY
Harbourmaster iii 10 OFFERS EXCELLENT FLEXIBILITY WITH THREE WINGS OFF A CENTRAL CORE AND CAN ACCOMMODATE OFFICE SUITES FROM APPROXIMATELY 2,500 SQ FT TO ENTIRE FLOORS OF 11,500 SQ FT. The property occupies a prominent position on Harbourmaster within the IFSC and provides 4,919.1 sq m (52,948 sq ft) of Grade A office accommodation over 5 floors. In addition there are 52 car parking spaces, 42 of which are at basement level, together with bicycle stands. The building is constructed around a concrete frame structure with block infill walls and red-brick and glazed outer leafs. All office floors are of concrete construction while the plant level is of steel frame construction to include a Trocal roof. The plant room which contains the chillers and mechanical plant are located at roof level. The impressive reception area is finished with a tiled floor, suspended ceilings incorporating down lighters and a marble effect reception desk. The main core provides a bank of three 10 person passenger lifts together with a stair well and male and female toilet accommodation on each floor. Harbourmaster iii 11
GROUND FLOOR FLOOR PLANS Male WC Female WC TYPICAL FLOOR PLAN Common Reception Lifts Floor plans Floor plans 12 13 Lifts Balcony FOURTH FLOOR Male WC Female WC Balcony Balcony Balcony Lifts Balcony For illustrative purposes only Balcony
The schedule sets out a summary of the lettings in Harbourmaster III Demise Tenant Occupied By Car Spaces Area Sq M Area Sq Ft Lease Start Duration (Years) Lease Expiry Passing Rent Ground ANP International Finance Ltd. ANP International Finance Ltd. 4 339.7 3,656 29-June-95 25 28-June-20 148,795 TENANCY Ground Ground FTI Finance Ltd. Enterprise Registry Solutions Ltd. FTI Finance Ltd. Enterprise Registry Solutions Ltd. 4 346.1 3,725 29-June-95 25 28-June-20 186,753 233.8 2,517 02-Jan-13 5 01-Jan-18 57,360 First Depfa Bank PLC DZ Bank Ireland PLC 1 5 397.2 4,275 29-June-95 25 28-June-20 218,484 Tenancy 14 First Second Second Second Third Depfa Bank PLC Depfa Bank PLC Mediterranean Nautilus Ltd. Allianz Ireland PLC National Irish Bank Ltd. Danske Bank A/S 1 8 669.9 7,211 29-June-95 25 28-June-20 358,307 RDZ Consulting 5 415.8 4,476 29-June-95 25 28-June-20 223,502 Ltd. 1 Lan Med Nautilus 3 352.2 3,791 29-June-95 25 28-June-20 115,000 Ltd. 2 WGZ Bank Ireland 3 302.9 3,260 29-June-95 25 28-June-20 161,488 PLC 2 Danske Bank 11 1,075.2 11,573 29-June-95 25 28-June-20 571,519 Tenancy 15 Fourth Depfa Bank PLC Afilias PLC 1 7 786.3 8,464 29-June-95 25 28-June-20 411,786 CPS National Irish Bank Ltd. Danske Bank 1 3,382 TOTAL 51 4,919.1 52,948 2,456,377 1 Sub-letting 2 Assignment NOTES: Enterprise Registry Solutions Ltd. rent steps up to 60,945 in year 5. The above areas which are calculated on a Net Internal Area basis were provided by Malcolm Hollis. An assignable measurement survey is provided in the data room which can be assigned to the successful purchaser.
DEPFA BANK 49.3% of income Depfa bank plc is a Dublin based bank incorporated under Irish law. It has grown a network of international subsidiaries and branch offices. Depfa Group specialises in providing financial services to the public sector. Since December 2014 it is a 100% owned subsidiary of FMS-Wetmanagement AOR. Futher information is available at www.depfa.com The Occupiers 16 THE OCCUPIERS DANSKE BANK 23.4% of income FTI FINANCE LTD Danske Bank, formerly known as the National Irish Bank, is a bank operating in the Republic of Ireland and is a subsidiary of the Danske Bank Group which is headquartered in Copenhagen. The Danske Bank Group is an established Nordic financial services provider with a core activity in retail banking. They also provide asset management, investment, pension, mortgage finance, insurance, real estate agency and leasing services to around 3.8 million personal customers. Further information is available at www.danskebank.ie FTI are a specialist international treasury company providing treasury management, systems, consultancy and training to a diverse global client base. Their clients include a wide range of corporates, banks and public sector treasuries. Founded in 1988, FTI is an owner-managed, independent private company, based in Dublin s International Financial Services Centre (IFSC), with subsidiaries in Sofia and South Africa. The Occupiers 17 7.6% of income Further information is available at www.ftitreasury.com
ALLIANZ IRELAND PLC 6.6% of income Allianz is a German company which offers a comprehensive range of insurance and asset management products and services to 85 million customers in more than 70 countries. Further information is available at www.allianz.com/en/ ENTERPRISE REGISTRY SOLUTIONS Enterprise Registry Solutions (ERS) is an Irish Company specializing in the provision of consulting services and solutions to the commercial registry domain. Their services include public e-filing and product ordering, state of art name searching and document imaging systems. The Occupiers 18 MAINSTREET INTERNATIONAL FINANCE LIMITED 6.1% of Income Mainstreet International Finance Limited (formerly ANPI) is a subsidiary of Mainstreet Bank Limited. The company provides a range of international financial services to its parent bank and manages proprietary assets and liquidity. Its parent company, Mainstreet Bank, is a large financial services provider in Nigeria. Mainstreet Bank (MBL) was formed in August 2011 by taking over the assets and some of the liabilities of the now defunct Afribank Plc. As of January 2012, the assets of Mainstreet Bank Limited are 100 per cent owned by Asset Management Company of Nigeria (AMCON), an arm of the Federal Government of Nigeria. ANP International Finance Limited was initially founded in 1987. Further information is available at www.mainstreetintfinance.ie 2.3% of Income Further information is available at www.ersl.ie 19 The Occupiers LAN MED NAUTILUS 4.7% of Income Lan Med Nautilus Limited, a wholly owned subsidiary of Telecom Italia Sparkle, is a high quality broadband network service provider with operations throughout Europe. Lan Med Nautilus is headquartered in Dublin. Further information is available at www.lanmednautilus.com
RECENT INVESTMENT TRANSACTIONS RECENT INVESTMENT TRANSACTIONS 20 RIVERSIDE 1 Sir John Rogerson s Quay, Dublin 2 (70.8% interest) DESCRIPTION: Tenancy: Price: Income Yield: 4.34% Grade A six storey over basement office building comprising 9,323 sq m Fully let to McCann Fitzgerald with 16.4 years unexpired 80.5 million Date: Q2 2015 BLOCK R Spencer Dock, Dublin 1 DESCRIPTION: Tenancy: Price: Grade A seven storey over basement office building comprising 11,944 sq m Multi-let to The Central Bank, OPW and Nationwide Building Society with a WAULT of 9.9 years 104 million Income Yield: 4.48% Date: Q3 2015 21 RECENT INVESTMENT TRANSACTIONS DESCRIPTION: Tenancy: Grade A six storey over basement office and retail building comprising 2,470 sq m Multi-let to d Amico, Walkers and Blooomberg with a WAULT of 4.8 years DESCRIPTION: Tenancy: Grade A six storey over basement office building comprising 4,020 sq m Multi-let to Rabobank, Susquehanna and Airbus Financial with a WAULT of 6.5 years THE ANCHORAGE 17-19 Sir John Rogerson s Quay, Dublin 2 Price: Income Yield: 4.51% 26.6 million Date: Q2 2015 2 GEORGE S DOCK IFSC, Dublin 1 Price: Income Yield: 5.52% 35.5 million Date: Q3 2015 Please note all prices quoted are approximate.
WHY INVEST IN DUBLIN? 22 WHY INVEST IN DUBLIN? FASTEST growing economy in the OECD for the last two years running GDP in excess of 6.7% anticipated in 2015 UNEMPLOYMENT RATE HAS DECLINED from 15.1% in 2012 to 8.8% by mid-year 2015 and is continuing to decline ONLY ENGLISH SPEAKING COUNTRY in the Eurozone which coupled with 12.5% corporate tax rate attracts significant Foreign Direct Investment (FDI), particularly to Dublin WHY INVEST IN DUBLIN? 23
WHY INVEST IN DUBLIN? 24 EUROPEAN GDP GROWTH FORECASTS Source: International Monetary Fund, World Economic Outlook Database, CSO THE IRISH INVESTMENT MARKET 6 5 4 3 2 1 % IRELAND MALTA SLOVAK REPUBLIC ESTONIA GREECE LUXEMBOURG SPAIN LATVIA TOTAL INVESTMENT MARKET TURNOVER in 2015 reached approximately 3.5 billion Approx. 2.7 BILLION (76%) was transacted in the Dublin market OFFICE TRANSACTIONS made up 48% of the value of turnover SLOVENIA GERMANY PORTUAL NETHERLANDS BELGIUM FRANCE AUSTRIA FINLAND 2015 2016 ITALY CYPRUS THE DUBLIN OFFICE OCCUPATIONAL MARKET THE DUBLIN OFFICE MARKET now extends to some 3.98 million sq m (42.8 million sq ft) of accommodation 2015 SAW A RECORD VOLUME of 248,944 sq m (2,679,611 sq ft) of take-up being achieved in Dublin CONSISTENT VOLUME of takeup activity fuelled by Foreign Direct Investment and domestic economic recovery AVERAGE ANNUAL TAKE UP of 175,274 sq m (1,886,634 sq ft) in last 10 years in Dublin. LACK OF DEVELOPMENT ACTIVITY over recent years has fuelled supply shortages in some core locations GRADE A VACANCY RATE of 2.05% in the IFSC PRIME OFFICE RENTS in Dublin have risen at a faster pace than any other Eurozone location over the last 12 month period and are up 57% in the last 24 months PRIME RENTS currently at 592 per sq m ( 55 per sq ft) with significant growth potential 25 WHY INVEST IN DUBLIN? DOMESTIC AND INTERNATIONAL INVESTMENT appetite continues to be strong for prime well let opportunities PRIME OFFICE YIELDS continued to tighten in 2015 as more deals were completed and the occupational market continued to strengthen OVERALL the Irish investment market is poised to have another strong year in 2016
FURTHER INFORMATION CONTACT DETAILS VIEWINGS All viewings are strictly by appointment through the joint selling agents JOINT SELLING AGENTS JOINT SELLING AGENTS SOLICITORS FURTHER information 26 TENURE CAPITAL ALLOWANCES BER DATA SITE Leasehold subject to nominal rent There are Case V Capital Allowances available with the property. We understand that Industrial Buildings Allowances of approximately 1 m per annum may be claimed over a 4.5 year period. Prospective purchasers should satisfy themselves as to the availability and level of any Capital Allowances available. Further details are available on the data room. www.harbourmasteriii.com Connaught House, 1 Burlington Road, Dublin 4, Ireland www.cbre.ie JOHNNY HORGAN +353 (0)1 618 5797 johnny.horgan@cbre.com COLM LUDDY +353 (0)1 618 5729 colm.luddy@cbre.com 33 Molesworth Street, Dublin 2, Ireland www.savills.ie DOMHNAILL O SULLIVAN +353 (0)1 618 1364 domhnaill.osullivan@savills.ie KEVIN MCMAHON +353 (0)1 618 1328 kevin.mcmahon@savills.ie Riverside One, Sir John Rogerson s Quay, Dublin 2, Ireland www.mccannfitzgerald.ie SHANE FAHY +353 (0)1 607 1469 shane.fahy@mccannfitzgerald.ie 27 Contact details SAVILLS & CBRE DISCLAIMER Savills Ireland / CBRE and the Vendor/Lessor give note that the particulars and information contained in this brochure do not form any part of any offer or contract and are for guidance only. The particulars, descriptions, dimensions, references to condition, permissions or licences for use or occupation, access and any other details, such as prices, rents or any other outgoings are for guidance only and are subject to change. Maps and plans are not to scale and measurements are approximate. Whilst care has been taken in the preparation of this brochure, intending purchasers, Lessees or any third party should not rely on particulars and information contained in this brochure as statements of fact but must satisfy themselves as to the accuracy of details given to them. Neither Savills Ireland / CBRE nor any of its employees have any authority to make or give any representation or warranty (express or implied) in relation to the property, and neither Savills Ireland / CBRE nor any of its employees nor the vendor or lessor shall be liable for any loss suffered by an intending purchaser/lessees or any third party arising from the particulars or information contained in this brochure. Prices quoted are exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchasers/lessees shall be liable for any VAT arising on the transaction. This brochure is issued by Savills Ireland / CBRE on the understanding that any negotiations relating to the property are conducted through it. All maps produced by permission of the Ordnance Survey Ireland Licence No AU 001799 Government of Ireland. STEPHEN AHERNE +353 (0)1 618 5718 stephen.aherne@cbre.com ROISIN RAFFERTY +353 (0)1 618 1431 roisin.rafferty@savills.ie