For Sale by Private Treaty

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Aldous Robbins
6 years ago
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1 For Sale by Private Treaty E2

Trophy Retail Investment Opportunity Prime trading pitch on Ireland s premier retail shopping destination Entire let to Molton Brown Limited on an FRI lease Passing rent of 275,000

The property is situated on the west side of Grafton Street adjacent to Bewley s Café and H. Samuel jewellers, with & Other Stories and Carl Scarpa situated directly opposite.

The street comprises of over 90 retail units with department stores Brown Thomas and Marks & Spencer anchoring the street along with St Stephens Green Shopping Centre at the southern

International retailer Victoria s Secret are currently fitting out their new flagship store store opposite the subject property.

The area is well served by an array of transport nodes including Dublin Bus, the DART and the Luas (cross city and green line).

2 Trophy Retail Investment Opportunity Prime trading pitch on Ireland s premier retail shopping destination Entire let to Molton Brown Limited on an FRI lease Passing rent of 275,000 per annum Strong reversionary potential Approximately 12 years unexpired Location 80 Grafton Street occupies a prime position on Dublin s premier retail street. The property is situated on the west side of Grafton Street adjacent to Bewley s Café and H. Samuel jewellers, with & Other Stories and Carl Scarpa situated directly opposite. Grafton Street benefits from an annual footfall of approximately 57 million. The street comprises of over 90 retail units with department stores Brown Thomas and Marks & Spencer anchoring the street along with St Stephens Green Shopping Centre at the southern end of the street. Notable retailers in the area include: Massimo Dutti, River Island, Cath Kidston, Tommy Hilfiger, Hugo Boss, Ted Baker, Urban Decay and Space NK. International retailer Victoria s Secret are currently fitting out their new flagship store store opposite the subject property. The immediate area comprises a busy mix of high end restaurants, hotels and public houses. The area is well served by an array of transport nodes including Dublin Bus, the DART and the Luas (cross city and green line). Sth Great George s Street Cuffe Street Drury Street Dame Street Exchequer Street Sth William Street ST. STEPHEN S GREEN S.C. 80 Grafton Street Dawson Street ST. STEPHEN S GREEN TRINITY COLLEGE Molesworth Street Nassau Street Kildare Street Pearse Street Merrion Row Merrion Street Upper Pembroke Street Lwr MERRION SQUARE Fitzwilliam Lane P Fenian Fitzwilli Baggo The property extends to approximately Sq m (4,205 Sq ft) transport links in close proximity Luas Green Line Luas CROSS CITY dublin bus dublinbikes DART parking

Description 80 Grafton Street is a prime end of terrace, corner retail unit that extends to approximately 390.

The unit has frontage on to both Grafton Street (5.7m) and Johnson s Court (19m).

extensive glazed windows with signage overhead.

Tenant Area Area Passing Lease Start Term Next Review Review Type (Sq M) (Sq Ft) Rent pa Molton Brown 390.

86 ITZA 569 ITZA 2014 years 2019 Any intended purchaser will need to satisfy themselves as to the exact area of the subject

86 569 First Floor 75.68 815 Second Floor 80.99 872 Third Floor 72.94 785 Basement 76.03 818 TOTAL 390.67 4,205 52.

Any intended purchaser will need to satisfy themselves as to the exact area of the subject property.

Street. This is evidenced by the recent lettings to & Other Stories, Urban Decay and Victoria s Secret.

3 Description 80 Grafton Street is a prime end of terrace, corner retail unit that extends to approximately sq m (4,205 sq ft). The property is laid out over basement, ground and three upper floors. The unit has frontage on to both Grafton Street (5.7m) and Johnson s Court (19m). Tenancy Overview The ground floor is currently in retail use and comprises a traditional shop front facade incorporating extensive glazed windows with signage overhead. The upper floors and basement are utilised as ancillary storage and office space by the tenant. Tenant Area Area Passing Lease Start Term Next Review Review Type (Sq M) (Sq Ft) Rent pa Molton Brown NIA 4,205 NIA 275,000 1st October 15 1st October Open Market ITZA 569 ITZA 2014 years 2019 Any intended purchaser will need to satisfy themselves as to the exact area of the subject property. Accommodation Schedule Level Sq m (NIA) Sq ft (NIA) Sq m (ITZA) Sq ft (ITZA) Ground Floor First Floor Second Floor Third Floor Basement TOTAL , Floor areas provided by McGovern Surveyors in an assignable measured survey. Any intended purchaser will need to satisfy themselves as to the exact area of the subject property. Retail on Grafton Street International retailers seeking to expand into the Irish market are focusing their attention on Grafton Street. This is evidenced by the recent lettings to & Other Stories, Urban Decay and Victoria s Secret. With occupancy levels of 93%, landlords are now experiencing competitive bidding amongst retailers to secure a pitch on Ireland s premier Shopping Street. Following strong rental growth in 2016, Zone A prime rents on Dublin s Grafton Street have remained stable during the first three quarters of 2017, resting at 6,500 per sq m ( 604 per sq ft) at end-september. Compared to the same period in 2016, this reflects an annual increase of 6.6%, however rents remain 38% below 2008 peak values. Looking at Dublin s competitiveness in terms of other European cities, Grafton Street rents range between 8%-18% above Barcelona and Amsterdam, while sit 3% lower than Frankfurt. They are also considerably below the prime streets of London, Milan and Paris, where current average shop rents stand two and threefold higher.

South Great George s Street dame street Grafton Street Activity Exchequer Street south william street Powerscourt Townhouse wicklow street 57/58 Grafton St Sold: Q3 2015 19m (NIY: 3.

4 South Great George s Street dame street Grafton Street Activity Exchequer Street south william street Powerscourt Townhouse wicklow street 57/58 Grafton St Sold: Q m (NIY: 3.40%) 69 Grafton St Q Zone A 525 psf 72 Grafton St TO LET Q Zone A: 650 psf quoting 80 Grafton St October 2014 Zone A: 410 psf 100/101 Grafton St Sold: Q m (NIY: 3.44%) south king street chatham street STEPHEN S GREEN SHOPPING CENTRE AVOCA 80 grafton Street KING STREET CHATHAM ST HARRY ST 72 GRAFTON ST JOHNSON S CT WICKLOW ST SUFFOLK ST St Stephen s green Shopping Centre brown thomas Marks & Spencer brown thomas DUBRAY ANNE ST T SOUTH LEMON ST DUKE ST NASSAU STREET St Stephen s green south anne street Duke Street ST STEPHEN S GREEN HYDE 50 Grafton St Sold: Q m (NIY: 5.39%) dawson street 50 Grafton St Q Zone A 522 psf 35 Grafton St Q Zone A 525 psf 28/29 Grafton St Q Zone A 640 psf 26/27 Grafton St Q Zone A 535 psf LOT 1 Grafton Collection (21-23 Grafton St) Sold: Q m (NIY: 3.30%) Purchaser: Hines/ BVK 14 Grafton St Sold: Q m (NIY: 4.50%) Purchaser: Private Irish 2 Grafton St Cloddagh Jewellery Q Zone A 560 psf

contact details Cushman & Wakefield, 164 Shelbourne Road, Ballsbridge, Dublin 4, Ireland. T: +353 (0) 1 639 9300 www.cushwake.ie Kevin Donohue T: + 353 (0) 1 639 9234 E: kevin.donohue@cushwake.

5 contact details Cushman & Wakefield, 164 Shelbourne Road, Ballsbridge, Dublin 4, Ireland. T: +353 (0) Kevin Donohue T: (0) E: kevin.donohue@cushwake.ie PRSA No Jill Geraghty T: (0) E: jill.geraghty@cushwake.ie PRSA No Jane Dolan T: (0) E: jane.dolan@cushwake.ie PRSA No Town Planning The subject property is zoned: Z5- City Centre under the Dublin City Development Plan to consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity. Title Freehold Title. VAT Further information available upon request. BER E2 Full Building Energy Rating certificates available on request. Guide Price Offers sought in excess of 9,000,000 reflecting a net initial yield of 2.81% assuming standard purchasers costs of 8.46%. PSRA No: Solicitor Eugene F Collins, Temple Chambers 3 Burlington Road, Dublin 4 Mark Walsh T: +353 (0) E: mwalsh@efc.ie Viewings strictly by appointment only with the selling agents Cushman & Wakefield 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. 7. The Vendor reserves the right not to accept the highest or any offer made. Receiver On the instructions of Receiver Tom O Brien, Mazars, Block 3 Harcourt Centre, Harcourt Road, Dublin 2

GRAFTON STREET DUBLIN 2

GRAFTON STREET DUBLIN 2 RETAIL INVESTMENT OPPORTUNITY DUBLIN 2 INVESTMENT SUMMARY TROPHY RETAIL INVESTMENT SOUTH DOCKLANDS PRIME PITCH ON IRELAND S PREMIER RETAIL DESTINATION ENTIRE LET TO LIFE STYLE SPORTS (IRELAND) LTD ON AN