FOR SALE 100 CAPEL STREET: D1. High Profile City Centre Office/Retail investment with Development Potential

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Hubert Parks
5 years ago
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1 FOR SALE SALE 100 CAPEL STREET: D1 High Profile City Centre Office/Retail investment with Development Potential

retail/restaurant use Development potential to rear Attractive city centre location close to all amenities

2 Investment Summary City centre office investment 10 year lease to Ndevor Systems Ltd from 19th September 2011 Passing rent of 80,000 per annum Low rental base with rent review in 2016 Potential to revert to retail/restaurant use Development potential to rear Attractive city centre location close to all amenities Capel Street is one of Dublin s most established retail areas and is now home to a number of new restaurants and bars.

100 CAPEL STREET: D1 Location ILAC Luas Cross City The property is located on the west side of Capel Street, opposite the intersection with Rhyder s Row / Parnell Street and close to Mary Street and

Henry St Capel Street is one of Dublin s most vibrant locations with a vast array of contrasting uses including fashion, antiques, furniture/hardware, ethnic foods as well as offices and residential.

3 100 CAPEL STREET: D1 Location ILAC Luas Cross City The property is located on the west side of Capel Street, opposite the intersection with Rhyder s Row / Parnell Street and close to Mary Street and Henry Street. Henry St Capel Street is one of Dublin s most vibrant locations with a vast array of contrasting uses including fashion, antiques, furniture/hardware, ethnic foods as well as offices and residential. More recently Capel Street has seen a significant increase in the number of bars and restaurants including The Black Sheep, Brasserie 7, D-One, the Boars Head and Brother Hubbard. The property is located close to the Parnell Centre and the Jervis Shopping Centre to the east and the Four Courts and Smithfield to the west. Transport links are particularly strong in the area. The LUAS red line has stops on Abbey Street and the Four Courts with and numerous Dublin Bus Routes serving the adjoining streets. Parking is provided with public multi-story facilities at Parnell Centre, the ILAC Centre and Jervis Street. Luas Red Line Jervis Location Map

The Building The property comprises the ground floor and basement level of 100 Capel Street with a link through to a two storey modern offices to the rear.

4 The Building The property comprises the ground floor and basement level of 100 Capel Street with a link through to a two storey modern offices to the rear. The property, which extends to approximately square metres, provides bright and attractive modern office space. The front of the building, which forms part of a period building, is of traditional construction with rendered brick/ block walls and a glazed display window at ground floor level. Internal finishes include timber floors, plastered and painted walls and feature lighting. A spiral staircase links the ground floor and basement with an open thread metal stairway between the ground and first floor. Toilet accommodation is located at basement level. The ground floor was previously part of a retail store and subject to planning would suit restaurant use. The rear building is of modern construction with a reinforced concrete frame and rendered and painted walls. Subject to planning there is potential to add a lightweight structure over the mezzanine level to provide further office accommodation. Car parking for approximately 6 cars is located to the rear of the property with access from Campbell s Court.

m Ndevor ent Ndevor Ndevor Ndevor 2 spaces Basement 97.

5 modation Net Internal Area (Sq.m.) Tenant Area Sq.ft Area sq.m Ndevor ent Ndevor Ndevor Ndevor 2 spaces Basement Vacant 4 spaces Ground Floor r spaces have been retained by the landlord. First Floor Total

100 CAPEL STREET: D1 City centre office investment Dublin office take up continues to show an extremely healthy level of activity. Average deal sizes are of approx. 9,000 sq.ft.

7 100 CAPEL STREET: D1 City centre office investment Dublin office take up continues to show an extremely healthy level of activity. Average deal sizes are of approx. 9,000 sq.ft. representing strong actively for SME businesses typically in the TMT and Financial sectors. Dublin office take up reached approximately 1.2million sq.ft. in the first half of 2015, the strongest half-year level of take up since With the ever increasing scarcity of Dublin 2 office accommodation Dublin 1 and Dublin 4 have experienced high levels of comparative activity accounting for 24% and 20% of take up respectively. Office take-up sq ft 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000, , Source: Knight Frank Research H1 2015

8 Tenancy The property is let to Ndevor Systems on a 10 year lease from 19th September 2011 at a current rent of 80,000 per annum. The lease provides for a rent review in the fifth year of the term (next review 19/9/2016) The tenant has a break option in the 5th year of the term (September 2016). The break is subject to 3 month s written notice. The lease obliges the tenant to keep the property in good condition and repair throughout the term. The tenant pays a service charge for common area maintenance. Covenant Details Ndevor Systems (t/a Phorest) is a software company that specialises in computer software for hairdressers, spas, and beauty salon owners. The company has offices in Dublin and London. The software is used in more than 1,000 salons in ten countries around the world. In 2005, the company acquired their largest competitor, Stylebase, who had built up a client base of 170 over six years. On 19 August 2011, Phorest announced it had received an investment of 1.3m from Enterprise Ireland and private investors. BER. The property is BER exempt. Conditions to be noted: These particulars are issued by Knight Frank on the understanding that all the negotiations are conducted through them. Whilst every care has been taken in the preparation of these particulars, they do not constitute an offer or contract. All descriptions, dimensions, references to condition, permissions or licenses of use or occupation, access and other details are for guidance only, they are given in good faith and believed to be correct, and any intending purchaser/tenant should not rely on them as statements or representation of fact but should satisfy themselves (at their own expense) as to the correctness of the information given. Prices are quoted exclusive of VAT (unless otherwise stated) and allnegotiations are conducted on the basis that the purchaser/lessee shall be liable for any VAT arising on the transaction. Neither Knight Frank or any of their employees have any authority to make or give any representation or warranty in respect of this property. Contact Adrian Trueick: adrian.trueick@ie.knightfrank.com Ross Fogarty: ross.fogarty@ie.knightfrank.com Damien McCaffrey: damien.mccaffrey@ie.knightfrank.com KnightFrank.ie

56 MARY ST/32-36 WOLFE TONE ST SUPERB MIXED USE PROPERTY FOR SALE IN ONE OR MORE LOTS

56 MARY ST/32-36 WOLFE TONE ST SUPERB MIXED USE PROPERTY FOR SALE IN ONE OR MORE LOTS Investment Summary Superb City Centre Mixed Use Investment Opportunity. 56 Mary Street comprises a four storey over