RETAIL INVESTMENT OPPORTUNITY

RETAIL INVESTMENT OPPORTUNITY

DÚN LAOGHAIRE is a vibrant cultural hub embracing creativity and entrepreneurial flair. It has an extensive range of attractions and activities for locals and tourists alike, making it a destination location for many.

FOR SALE BY PRIVATE TREATY. TENANTS NOT AFFECTED INVESTMENT HIGHLIGHTS 10 Guide 9.6 million. Initial yield 7.5% rising to 9% when fully income producing post completion of the final two retail lettings. High profile modern retail and leisure scheme in the heart of Dun Laoghaire town centre Benefiting from strategic location opposite Dun Laoghaire harbour and dart station and adjacent Dun Laoghaire shopping centre 10 retail units extending to 4,848 sq m (52,108 sq ft) across 2 blocks Current rent of approximately 758,000 per annum with a WAULT of approximately 8.3 years Occupiers include Eason, O Briens Wine, Itsa Bagel, Mao, Crunch Fitness, Eddie Rockets, Viking Marine and Go-Bonkers Ice Cream Parlour. 3

LOCATION Dun Laoghaire is a large coastal town located just 7 miles south of Dublin City Centre. The city can be accessed in 18 minutes by dart train journey, with the DART station located adjacent to the harbour. M50 M1 Surrounding villages include Sandycove, Dalkey, Monkstown, Blackrock and Deansgrange. Within a 10 minute drive the number of inhabitants is approximately 135,000. This increases to just over 1,050,000 within a 30 minute drive. M50 DUBLIN CITY CENTRE N31 DUN LAOGHAIRE M50 N31 R119 DART LINE MONKSTOWN N31 DUN LAOGHAIRE MARINE ROAD QUEEN S ROAD GEORGE S ST UPPER MONKSTOWN AVENUE TIVOLI ROAD R119 DEANSGRANGE SANDYCOVE GLENAGEARY RD UPPER DART LINE SALLYNOGGIN DALKEY PPER 4 RETAIL INVESTMENT OPPORTUNITY

DUN LAOGHAIRE The town, with its thriving commercial centre, benefits from its picturesque sea side location with beautiful harbour views. In recent years Dun Laoghaire has become a popular destination for cruise ships with its abundance of cultural experiences, shopping and leisure activities. The town benefits from its own Theatre at the Pavilion, 12-Screen Cinema Complex, St Michael s 130-bed Hospital, Dun Laoghaire Rathdown County Council Headquarters, National Maritime Museum of Ireland, Royal Marine Hotel, on-street shopping, two shopping centres (Bloomfield Shopping Centre and Dun Laoghaire Shopping Centre), an excellent public transport system and ample car parking. It is an important yachting centre with four resident clubs and facilities for all water sports. Large employers in the town include AIB, Bank of Ireland, Royal Marine Hotel, Tesco, Wetherspoon, Dun Laoghaire VEC, Dun Laoghaire Rathdown County Council, St Michael s Hospital, National Rehabilitation Hospital, National Irish Bank, Dunnes Stores, Dun Laoghaire Institute of Art Design & Technology, Iceland, Bloomfields Shopping Centre, Dun Laoghaire Shopping Centre, Marks & Spencer, SuperValu Shaws Department Store, Argos, and Boots. PAVILION 1&2 YORK ROAD N31 ST MICHAEL'S HOSPITAL BLOOMFIELDS SHOPPING CENTRE ROYAL IRISH YACHT CLUB DUN LAOGHAIRE RATHDOWN COUNTY COUNCIL DUN LAOGHAIRE SHOPPING CENTRE 1 2 MARINE ROAD QUEEN S ROAD ROYAL MARINE HOTEL NATIONAL YACHT CLUB DUN LAOGHAIRE GEORGE S ST UPPER 1 The Pavilion is a conveniently located development in the heart of Dun Laoghaire. Pavilion 1 is located on the corner of Marine Road and Queen s Road directly opposite Dun Laoghaire Railway Station and Dun Laoghaire Harbour. 2 Pavilion 2 is located on Marine Road directly opposite Starbucks and Nandos and adjacent to Dun Laoghaire Shopping Centre and the Royal Marine Hotel entrance. 5

DESCRIPTION THE PAVILION IS A MIXED USE SCHEME DEVELOPED IN TWO PHASES. The scheme houses a municipal theatre, major health and fitness centre, bar, restaurant and retail units with two storeys of basement car parking. It also includes two multi-storey apartment buildings. The design maximises the unique views over the harbour and Dublin Bay. Included in this sale are 5 occupied ground floor shops, an ATM and a lower level gym in Pavilion 1, as well as a 2-storey anchor store occupied by Eason and Costa Coffee, 2 ground floor shops and a lower level restaurant in Pavilion 2. Pavilion 1 benefits from outdoor seating areas for the restaurant units as well as close proximity to a childrens playground fronting the harbour. While Meadows and Byrne, Pavilion Theatre, Wetherspoons, a public car park and upper floor apartments comprise part of the development, these do not form part of the sale. 7

8 RETAIL INVESTMENT OPPORTUNITY

TENANCY SCHEDULE Demise Occupier Area Sq Ft Area Sq M Lease Start Lease End Break Date PAVILION 1 Unit 1 & 2 Itsa Bagel 1,309 122 28/03/01 27/03/26 n/a Unit 3 Mao Restaurant 2,865 266 14/03/00 13/03/25 n/a Unit 4 Crunch Fitness 17,345 1611 01/06/00 31/05/25 n/a Unit 5 Eddie Rockets 1,520 141 18/04/16 17/04/26 17/04/23 Unit 6 Viking Marine 2,674 248 30/03/01 29/03/21 n/a Unit 8 Vacant - Terms agreed 3,402 316 ATM AIB n/a n/a overholding External Seating Licence Wetherspoons 09/12/14 08/12/19 n/a Store Vacant 1109 103 Subtotal Pavilion 1 30,224 2,808 Current Passing / Abated Rent pa 405,500 PAVILION 2 Unit 1 Eason 9,699 901 02/06/10 01/06/25 02/06/20 1st Floor Office Vacant 212 20 Unit 2 Go Bonkers 1,063 99 overholding Unit 3 O'Brien's 2,456 228 24/03/07 23/03/32 Unit 4 Vacant - Terms agreed 8,526 792 Subtotal Pavilion 2 21,956 2,040 Current Passing / Abated Rent pa 352,560 Total 52,180 4,848 Total Current Passing / Abated Rent pa 758,060 Please note a detailed tenancy schedule will be provided once a non-disclosure agreement has been executed. Floor areas are provided for indicative purposes only and subject to on site verification. 9

10 RETAIL INVESTMENT OPPORTUNITY PAVILION 1 benefits from outdoor seating areas for the restaurant units as well as close proximity to a childrens playground fronting the harbour.

PAVILION 2 is anchored by a 2-storey store occupied by Eason and Costa Coffee and includes 2 ground floor shops and a lower level restaurant. 11

GROUND FLOOR PAVILION 1 DUN LAOGHAIRE HARBOUR AND QUEEN S ROAD UNIT 1&2 Itsa Bagel Car Park UNIT 3 Mao Restaurant Common Areas OUTDOOR SEATING UNIT 8 Vacant - Terms agreed UNIT 5 Eddie Rockets VACANT STORES UNIT 4 Crunch Fitness UNIT 7 Meadows & Byrne UNIT 6 Viking Marine Car Park MARINE ROAD 12 RETAIL INVESTMENT OPPORTUNITY

PAVILION 2 GROUND FLOOR LIFT UNIT 2 Go Bonkers UNIT 3 O Briens UNIT 1 Eason LOWER GROUND FLOOR UNIT 4 Vacant - Terms agreed LIFT MARINE ROAD UNIT 4 Vacant - Terms agreed Subject to planning LIFT 13

COVENANT INFORMATION EASON & SON Rent Receivable 153,000 per annum (20.2% of total rent) Eason & Son is Ireland s leading book retailer involved in the wholesale, distribution and retail of books, newspapers, magazines, stationery and cards. The company was originally founded in 1819 as Johnston & Co. In 1886 Charles Eason and his son acquired the business. Eason and Son Ltd. is a private limited Company, registered in Ireland (number 1279), with its registered office at 80 Middle Abbey Street, Dublin 1, Ireland. Today, Eason and Son have more than 60 outlets in both the Republic of Ireland and Northern Ireland. Accounts for Eason Holdings plc show an after-tax profit of 1.2 million in the 53 weeks to the end of January 2016. Its revenues rose by 9 per cent to 147.2 million, excluding joint ventures. Turnover in the Republic rose by 10 per cent to 121.7 million and by 13 per cent in Northern Ireland to 25.5 million. Eason s Ebitda rose by 37 per cent to 7 million. This strong financial performance allowed it to pay a dividend to shareholders of 500,000. Eason has spent 3 million of a planned 4 million on refurbishing its flagship store on O Connell Street in Dublin over five years. The revamp of its O Connell Street store is part of a 10 million chain-wide capital expenditure program. O BRIENS WINES Rent Receivable 175,560 per annum (23.2% of total rent) O Briens Wine Off-Licence Group is Ireland s largest family owned drinks retailer. The O Brien family purchased and opened a grocery store in Bray Co. Wicklow in 1944. In 1973 they took their first venture into Dublin opening a Dun Laoghaire store. In 1997 the business was rebranded from O Briens Fine Wines to O Briens Wine Off Licence. The product range was extensively renewed and expanded to encompass the future needs of Irish wine drinkers. Today the group has 32 stores and over 250 staff currently employed. O Briens Wine Off-Licence Group Ltd. (Company No: 27067) has its registered office at 33 Spruce Avenue, Stillorgan Industrial Park, Blackrock, Co. Dublin, Ireland. ILG LIMITED T/A CRUNCH FITNESS Rent received 115,000 (15.2% of total rent). Crunch Fitness is a 5 star boutique gym and leisure club with high end gyms in Dun Laoghaire, Aston Quay, Dublin 2 and Westmanstown. Further information available at www.crunchfitness.ie VIKING MARINE Rent 65,000 per annum (8.6% of total rent) Viking Marine is a full service specialist retailer serving all boating needs. Viking Marine sells both online and from their store with a wide range of products to service all areas of boating including yachting, power boating and dinghies. Viking Marine also service ribs, small motor craft and outboards from their service centre in Kilcoole, Wicklow. MAO Rent 80,000 per annum (10.6% of total rent). Mao restaurants have been the top Asian restaurant chain in Dublin for over 20 years having opened in Dublin in the early 1990s. The group now has locations in Ballinteer, Blanchardstown, Chatham Row, Clondalkin, Donnybrook, Dundrum, Lucan, Stillorgan, and at The Square Shopping Centre. In 2010 The Mao restaurant chain was bought by brothers Colum and Ciaran Butler, who are also behind TGI Fridays, the Leisureplex entertainment chain and the UCI cinema group. EDDIE ROCKETS Rent 65,000 per annum (8.6% of total rent) Eddie Rocket s (Ireland) Limited is an Irish restaurant chain, with its headquarters in Dublin. It offers American-style food in 1950s style diners. It has operations in Dublin, Carlow, Down, Kerry, Kildare, Kilkenny, Louth, Meath, Offaly, Wicklow. The company opened its first outlet in Dublin in 1989. Eddie Rockets has been open for more than 25 years with 36 restaurants in Ireland, 14 of which are owned by the company directly. It also has a number of franchises. By 2018, the fast food chain plans to operate 100 restaurants around Ireland and Europe with the launch of its faster Rocket s outlet in 2014. Similar to the group s main restaurants, Rocket s which is currently open in three locations in Ireland, promises a faster dining experience. The company recently announced plans to bring Rockets to 40 forecourts as part of a new 11.4 million deal with Topaz. 14 RETAIL INVESTMENT OPPORTUNITY

ITSA BAGEL Rent 60,000 per annum (7.9% of total rent) Itsa, the restaurant and food retail business operated by well-known chef Domini Kemp has outlets in Dun Laoghaire, Sandyford, Ranelagh and Dublin city centre. Itsa is a privately owned company and none of its stores are franchises. The Itsa group has over 16 years experience of high street retail in the Irish market. Numbers employed at the group are approximately 120. GO BONKERS Rent 24,000 per annum (3.2% of total rent) Go Bonkers Ice Cream Parlour is run by the same family owners as the well-known Teddy s Ice Cream which has become a household name on the south-side of Dublin over the past 65 years. The shop benefits from its location close to the seafront and also Dun Laoghaire town centre.

TENANTS NOT AFFECTED BER R ATI NG Full details available on data room. AGENT All viewings are strictly by appointment through the sole selling agent. For further information or inspection please contact: Styne House, Upper Hatch Street, Dublin 2 Jacqueline Fitzpatrick +353 1 673 1676 Jacqueline.Fitzpatrick@eu.jll.com Laura Torpey +353 1 673 1656 Laura.Torpey@eu.jll.com John Moran +353 1 673 1600 John.Moran@eu.jll.com PSP Licence No: 002273 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. Brochure design by