THE ARDILAUN PORTFOLIO ON THE INSTRUCTION OF KIERAN WALLACE AS RECEIVER

Transcription

1 THE ARDILAUN PORTFOLIO ON THE INSTRUCTION OF KIERAN WALLACE AS RECEIVER

2 INVESTMENT SUMMARY FOR SALE BY PRIVATE TREATY IN ONE OR MORE LOTS Tenants not affected SAVILLS IS DELIGHTED TO PRESENT THE ARDILAUN PORTFOLIO. AN EXCEPTIONAL OPPORTUNITY TO AVAIL OF A BLEND OF RETAIL INVESTMENT PROPERTIES WITH ASSET MANAGEMENT POTENTIAL. Collection of two city centre, multi-let retail investments. Busy retail locations on Dean and Patrick Street, Dublin 8. The properties combined extend to 657 sq m (7,072 sq ft) NIA. Current passing rent of approx. 120,014 p.a. 7 retail units across 2 schemes. Weighted Average Unexpired Lease Term of 3.73 years. Immediate asset management opportunities.

3 INVESTMENT SUMMARY THE ARDILAUN PORTFOLIO COMPRISES; : LOT 1: LOT 2: Unit 3, Kingscourt, Parnell Street, Dublin 1 Unit 4, Kingscourt, Parnell Street, Dublin 1 Unit 5, Kingscourt, Parnell Street, Dublin 1 Unit 1, Ardilaun Court, Patrick Street, Dublin 8 Unit 2, Ardilaun Court, Patrick Street, Dublin 8 Unit 3 & 4, Ardilaun Court, Patrick Street, Dublin 8 Unit 5, Dean Court, Dean Street, Dublin 8 Unit 6, Dean Court, Dean Street, Dublin 8 Unit 7 & 8, Dean Court, Dean Street, Dublin 8 LOT 1 Unit 9, Kingscourt, Parnell Street, Dublin 1 Unit 8, Ardilaun Court, Patrick Street, Dublin 8 LOT 3: The Entire LOT 2 *Red line is for illustrative purposes only

4 PARNELL RO AD LOCATION Convention Centre Aviva Stadium O Connell St. IFSC Grand Canal Docks The Ilac Centre Henry St. Mary St. The Jervis Centre College Green Grafton St. St. Stephen s Green HEUSTON STATION NO RTH CIRCULAR RO AD ST. BRENDAN S HOSPITAL ARRAN QUAY HENRY ST RED LUAS LINE BUSARUS BUS STATION NO RTH CIRCULAR RO AD CONNELLY RAIL/DART STATION GUILD ST NORTH WALL QUAY PORT TUNNEL TOLKA QUAY ROAD Christchurch Lot 1 - Ardilaun Court St. Patricks Cathedral ST JOHNS RO AD W EST ST. JAME S HOSPITAL V ICTO RIA QUAY ST. JAME S GATE GUINNESS BREWERY TEMPLE BARS TRINITY COLLEGE GRAFTON ST MERRION SQUARE EAST LINK BRIDGE Lot 2 - Dean Court ST. STEPHENS GREEN BATH AVENUE DO LPHIN RO AD GREEN LUAS LINE M ESPIL RO AD BEACH ROAD Kingscourt GRO VE RO AD Dean Court Ardilaun Court

5 LOT 1: UNITS AT KINGSCOURT, PARNELL STREET LOCATION The subject units are situated in a prominent position on the southern side of Parnell Street - immediately adjacent to the Ilac Shopping Centre. The properties occupy a pivotal trading position between the Parnell Street entrance to the Ilac Centre and Penneys. Mary Street / Henry Street are situated approximately 150 metres from the subject units, ensuring high levels of footfall in the vicinity. The recent refurbishment of the Ilac Centre has contributed to increased footfall in the locality, and the proposed future development of Dublin Central as well as the proposed future development of Arnotts will further enhance the surrounding area in the medium to long term. The Luas Red line stops nearby on Abbey Street and there are numerous multi storey car parks in the vicinity including Ilac Centre, Parnell Centre and Jervis Shopping Centre. DESCRIPTION The subject properties comprise 4 ground floor retail units and cater for a variety of retailers including an Italian restaurant, a pharmacy, an Asian grocery store and a Spar. All units are finished to a high standard with Unit 5 having recently been completely refurbished. TENANCY SCHEDULE Unit Tenant Term Term Start Term End Passing Rent PA 3 Parnell Street Malik Stores Ltd., T/a Star Asia Foods 4 years & 9 months 26/06/ /03/ ,000 3,305 4 Parnell Street Ashglen Property Company Ltd. 24 years & 11 months 05/06/ /05/ ,000 2,265 5 Parnell Street Roy Hogan Pharmacy 25 years & 2 months 04/01/ /03/ ,000 1,321 9 Parnell Street Abbas Sadri, T/a La Cucina 25 years 27/07/ /07/ ,000 1,062 *Area source: Jones Engineering Group (assignable measurement survey available) Size (Sq Ft) (NIA) Nearby occupiers include Penneys, Cineworld, Smyths Toys, Toymaster, Tesco Extra, Aldi and Lidl. Cineworld, which is located immediately adjacent to the subject property is Ireland s largest cineplex with seventeen screens.

6 LOT 1: UNITS AT ARDILAUN COURT, PATRICK STREET LOCATION Ardilaun Court is situated in a highly convenient city centre location within a ten minute walk of St. Stephen s Green and Grafton Street, as well as Dame Street and Georges Street. Situated on the bustling Clanbrassil Street Upper, the property benefits from high volumes of passing trade throughout the day. There is a mixture of high density residential and commercial activity in the area with apartment blocks and residential housing being complimented by an abundance of convenience retailing in the locality. St. Patricks Park & Cathedral are located adjacent to the subject units and act as a popular tourist attraction in the area. DESCRIPTION Three of the four retail units are currently let, providing an opportunity to increase rent role upon leasing of the vacant unit. TENANCY SCHEDULE Unit Tenant Term Term Start Term End Passing Rent PA 1 Ardilaun Court Vacant N/A N/A N/A N/A Ardilaun Court Krystal Cleaners 9 years, 10 months & 28 days* 02/04/ /03/ , & 4 Ardilaun Court P & K Cycles 10 years 27/04/ /04/ ,000 1,550 8 Aridlaun Court John Latham 25 years 01/11/ /10/ , *Tenant Break Option at the end of year 2 (April 2016) Area source: Jones Engineering Group (assignable measurement survey available) Size (Sq Ft) (NIA) ARDILAUN COURT IS SITUATED IN A HIGHLY CONVENIENT CITY CENTRE LOCATION

7 LOT 2: UNITS AT DEAN COURT, DEAN STREET LOCATION The subject parade occupies a high profile location at the busy intersection of Dean Street and Patrick Street. Accordingly the parade benefits from a high level of passing traffic and footfall particularly given its close proximity to Kevin & Auinger Street DIT and the National College of Art & Design. THE SUBJECT PARADE OCCUPIES A HIGH PROFILE LOCATION ON THE BUSY INTERSECTION OF PATRICK STREET AND KEVIN STREET DESCRIPTION The four ground floor retail units form a complete parade of shop fronts to the southern elevation of the Dean Court apartment complex. The units currently provide for discount store, hairdressing salon and beauty salon uses. TENANCY SCHEDULE Unit Tenant Term Term Start Term End Passing Rent PA 5 Dean Street Efrat Ratzon, T/a Effies (Beautician) 4 years & 9 months 30/04/ /01/ , Dean Street Aneta Koldras & Parwek Koldras, T/a Annettes Hairdressing 4 years & 9 months 14/06/ /03/ , & 8 Dean Street Danzante Ltd. 20 years* 14/01/ /01/ ,000 2,265 *Tenant Break Option at the end of year 5 (January 2020) Area source: Jones Engineering Group (assignable measurement survey available) Size (Sq Ft) (NIA) The area comprises a wide variety of commercial occupiers, with a large number of art galleries and antique shops on Francis Street. Neighbouring occupiers include Spar, The Capstan Bar, Vivid Hair & Beauty, The Cathedral Café, and Bohemia.

8 FURTHER INFORMATION TITLE - Long leasehold VIEWINGS - All viewings are strictly by appointment through the sole selling agent. BER RATING - B3 - E1 (BER certificates available upon request) SELLING AGENT Savills 33 Molesworth Street Dublin 2 PRSA No: SOLICITORS Matheson 70 Sir John Rogerson s Quay Dublin 2 Ireland Ciaran Kelly +353 (0) Ciaran.Kelly@savills.ie Margeurite Boyle +353 (0) Marguerite.Boyle@savills.ie Stephen Mc Carthy +353 (0) Stephen.McCarthy@savills.ie Cillian O Boyle D: T: E: cillian.oboyle@matheson.com Bláthnaid Martin D: T: E: blathnaid.martin@matheson.com Savills Ireland 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 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 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 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 Government of Ireland.