SHELBOURNE BALLSBRIDGE DUBLIN 4 www.shelbournehouseballsbridge.com
SHELBOURNE OFFERS AN EXCELLENT MIXED USE DEVELOPMENT AND INVESTMENT OPPORTUNITY WITH ASSET MANAGEMENT POTENTIAL IN THE HEART OF BALLSBRIDGE, DUBLIN 4 SHELBOURNE
SHELBOURNE THE OPPORTUNITY Situated in the heart of Ballsbridge on Shelbourne Road. Within walking distance of the City Centre The seven storey building extends to approx. 5,972.2 sq m (64,284 sq ft) with 49 surface car parking spaces WAULT of approx. 3.7 years. Multi-let property underpinned by excellent covenant strength (An Post, OPW, Malaysian Embassy) 1.6 million Passing rent of approx. 1.6 million per annum Opportunity to improve rental income by leasing the vacant floor (8,277 sq ft) Future development/ refurbishment potential For Sale by Private Treaty (Tenants not affected) Page 3
BALLSBRIDGE DUBLIN 4 LOCAL OCCUPIERS 1 Embassy of Israel 2 Hume House 3 Ballsbridge hotels 4 OPW 5 Bank of Ireland 6 American Embassy 7 Eirgrid 8 Ballsbridge College of Further Education 9 IBM 10 Ding 11 AIB Bank Centre 12 Google 13 Accenture 14 Mason Hayes Curran Solicitors 15 Matheson Solicitors 16 Marker Hotel 17 Gasworks 18 Convention Centre 19 IFSC 20 Grand Canal Dock 21 Bord Gais Energy Theatre 22 Shelbourne Park Stadium 23 Project Trinity 19 1 21 4 5 SHELBOURNE
SHELBOURNE 18 16 13 20 15 12 14 17 22 SHELBOURNE AVIVA STADIUM 3 23 9 10 2 7 6 8 11 Page 5
JOHNSON PL W AND ST PEMBROKE LANE LOCATION Shelbourne House sits on Shelbourne Road in the heart of Ballsbridge and within walking distance of the City Centre and Grand Canal Square. It is located adjacent to the Aviva Stadium. Ballsbridge is an exclusive and highly affluent area with a strong mix of office, commercial, residential and embassy uses. The immediate area provides a high quality business environment and is also home to a wide range of amenities and facilities including a conference hall/ exhibition centre at the RDS, multiple restaurants, retail outlets and financial services. There are many prestigious hotels in the area including the Herbert Park, Clayton Hotel and the five star The Intercontinental. The immediate area has seen significant development. No. 1 Ballsbridge, also situated on Shelbourne Road, is under construction and will interlink the adjoining Ballsbridge Hotel site. No. 23 Shelbourne Road, adjoining the subject property has been recently refurbished Additional developments at Hume House and Franklin House will further improve Ballsbridge s status as a key business destination. TRANSPORTATION Ballsbridge is serviced by excellent transport links including the East Link Toll Bridge, the Lansdowne Road and Sandymount DART (commuter rail network) stations and a large number of bus routes. Shelbourne Road is located immediately off Merrion Road, which forms one of Dublin s principal arterial routes linking Ballsbridge to the south suburbs and making the area highly accessible and sought after. LOCAL OCCUPIERS The area is renowned as a proven commercial district and is home to many of Ireland s key occupiers that have chosen to set up headquarters in the area. Occupiers in the area, such as Google, Zurich, EirGrid, AIB Bankcentre, Bank of Ireland and IBM. T ST ST TEMPLE BAR CROWN AI E LANE COPE ST UER ST ST ANDREW LN CASTLE MKT WILLIAM ST KING STREET SOUTH ANGLESEA ST COLLEGE GREEN STH WILLIAM ST CHATHAM ROW CLAREDON MKT TRINITY ST ST ANDREW ST COPPERING ROW CLARENDON ROW CLARENDON STREET BALFE ST CHATHAM ST WICKLOW ST LUAS ST STEPHENS GREEN WEST SUFFOLK ST JOHNSON LN HARRY ST GRAFTON STREET COLLEGE STREET LUASCROSSCITY LEMON ST DUKE STREET ANNE ST SOUTH DUKE LANE UP DUKE LANE UP DUKE LANE LWR HIB WAY NASSAU STREET DAWSON STREET ST STEPHENS GREEN MOLESWORTH PL FREDRICK ST SOUTH ST STEPHENS GREEN NORTH TRINITY COLLEGE SETANTA PLACE MOLESWORTH ST SCHOOL LN ST STEPHENS GREEN EAST KILDARE STREET PEARSE STREET PEARSE STREET MERRION ST UPR LINCOLN PLACE CLARE STREET BAGGOT STREET WESTLAND ROW LOMBARD S PEARSE STREET STATION FENIAN ST MERRION SQ NORTH MERRION SQUARE MERRION SQ SOUTH BOYNE STREET LOWER FITZWILLIAM STREET HOLLES STREET UPPER ENRE ST. LOWER MOUNT ST. UPPER MOUNT STREET HANOVER STREET MACKEN STREET Bord Gáis Theatre LOWER GRAND CANAL ST WARRINGTON PLACE PERCY PLACE GRAND CANAL QUAY PEARSE STREET GRAND CANAL DOCK STATION HANOVER QUAY BARROW STREET BENSON STREET G R A N D C A N A L SOUTH DOCK STREET PARK GORDON STREET SOUTH LOTTS ROAD SHELBOURNE PARK GREYHOND STADIUM BATH AVENUE CAMB DERMOT PH HARCOURT STREERT ST STEPHENS GREEN SOUTH Iveagh Gardens HATCH STREET LEESON STREET LOWER FITZWILLIAM SQUARE FITZWILLIAM PLACE LAD LANE WILTON TERRACE LWR BAGGOT ST. HERBERT PLACE MESPIL ROAD HADDINGTON ROAD ST MARY S ROAD PEMBROKE GRD PEMBROKE ROAD NORTHHUMBERLAND ROAD SHELBOURNE SHELBOURNE ROAD AVIVA STADIUM LANDSDOWN STATIO DARLMOUNTH SQ N SUSS BURLINGTON RD Dublin Bus Dublin Bike Station Taxi Rank Train / DART Station LUAS Green Line Approx. 200m WATERLOO LN WATERLOO ROAD HEYLESBURY LN WELLINGTON ROAD EGLIN ROAD N LANE RAGLAN ROAD BEATTYS AVENUE BALLSBRIDGE PARK SHELBOURNE
DESCRIPTION SHELBOURNE The property occupies a prominent position on Shelbourne Road within Ballsbridge and provides 5,972.2 sq m (64,284 sq ft) of office accommodation over 6 floors with three penthouse apartments located on the sixth floor. In addition there are 49 surface car parking spaces together with bicycle stands. ACCOMMODATION Shelbourne House is laid out in two parts; the original building and the link building, which have separate access and circulation cores. The office accommodation is a mix of open plan and cellular accommodation. The penthouse level accommodates three penthouse apartments. The An Post sorting office is located at ground floor level in the original building while the specification to the upper floor office accommodation comprises: Raised access floors with floor boxes and carpet tile covering Suspended acoustic tiled ceilings Plastered and painted walls Wall mounted VRV air-conditioning units in the office accommodation Page 7
APARTMENT TWO APARTMENT THREE APARTMENT ONE PLANT FLOOR PLANS SIXTH FLOOR LIFT LIFTS BALCONY SECOND FLOOR LIFT TOILETS LIFTS GROUND FLOOR LIFT TOILETS LIFTS RECEPTION ENTRANCE Net Floor Area Sq m Sq ft Ground 919.1 9,893 First 939.2 10,109 Second 939.2 10,109 Third 900.2 9,690 Fourth 900.2 9,690 Fifth 899.2 9,678 Sixth 475.5 5,118 Total Floor Area 5,972.5 64,287 SHELBOURNE
TENANCY SHELBOURNE The property is multi-let and produces a rent of 1,603,120 p.a. in accordance with the tenancy schedule as set out below: Description Current Tenant Car Spaces Area Sq m Area Sq ft Lease Start Years Months Expiry Date Breaks Current Rent p.a. Grd, 1st & 2nd An Post* 6 1,103.2 11,875 28/12/01 12 11 01/12/14 None 270,000 Ground 1st O'Malley Homes & Developments Therabel Pharmaceuticals Ltd. 29.9 322 01/12/04 15 01/12/19 None 5,000 146.2 1,574 01/07/13 4 9 31/03/18 None 40,000 1st, 2nd, 3rd & 4th OPW 30 2,901.2 31,228 08/02/01 20 07/02/21 None 1,018,000 2nd Malaysian Tourist Board 64.0 689 01/01/14 3 31/12/16 None 29,520 2nd Mara Ireland 60.0 646 01/10/14 1 9 30/06/16 None 24,000 3rd, 4th & 5th Malaysian Embassy 4 423.3 4,556 15/07/03 20 14/07/23 None 144,000 5th Vacant 7 769.0 8,277 0 Apt 1 Vacant 91.5 985 0 Apt 2 Private Resi Tenant 1 278.0 2,992 28/01/14 3 27/01/17 None 48,000 Apt 3 Private Resi Tenant 1 106.0 1,141 08/09/15 1 07/09/16 None 24,600 Total 49 5,972.5 64,287 1,603,120 * The An Post lease expired on 31 December 2014 and the tenant is overholding. The office areas have been calculated using IPMS3. The IPMS3 survey was undertaken by McGovern O Brien Surveyors Ltd, in accordance with the guidelines as described in the 1st Edition (May 2015) of the RICS Property Measurement, published by the RICS. A full measurement survey is provided in the data room. The apartments have been measured on a GIA basis. The WAULT on the property is approx. 3.7 years. Page 9
THE OCCUPIERS Malaysian Embassy An Post is the state-owned provider of postal services in the Republic of Ireland. An Post is a major commercial organisation providing a wide range of services which encompass postal, communication and financial services. It is one of Ireland s largest organisations directly employing over 10,000 people through its national network of retail, processing and delivery points. Further information is available at www.anpost.ie The Malaysian Embassy in Dublin is the body which formally represents the Malaysian Government in Ireland. Further information is available at www.kln.gov.my/web/irl_dublin/home Therabel Europe Limited is a privately-owned pharmaceutical company, with a European heritage dating back to 1945. Therabel s current product portfolio primarily comprises specialty care and primary care pharmaceutical drugs, but also over-the-counter products. Further information is available at www.therabel.com The Office of Public Works (OPW or the Commissioners of Public Works in Ireland) is a State Agency of the Department of Finance in Ireland. The OPW manages and maintains the State's property portfolio. The Minister for Finance has overall responsibility for the organisation and the main responsibility is the ownership, upkeep and maintenance of state buildings and historic buildings in Ireland. Further information is available at www.opw.ie MARA Ireland was established in 2007. Its purpose is to look after the wellbeing and education of sponsored MARA students who are studying here in Ireland. Further information is available at www.maraireland.blogspot.ie SHELBOURNE
DEVELOPMENT POTENTIAL SHELBOURNE The property has a weighted average unexpired lease term (WAULT) of under 4 years which offers the opportunity to implement asset management initiatives to take surrenders and refurbish floors to drive rents.
SHELBOURNE VIEWINGS All viewings are strictly by appointment through the sole selling agent. TITLE The property is held in Fee Simple. BER BER Number: 800406621 Energy Performance Indicator: 74.08 kgco2 /m 2 /yr 1.06 DATA SITE https://sites.savills.com/shelbournehouse www.shelbournehouseballsbridge.com SELLING AGENT SOLICITOR Amoss Solicitors Warrington House, Mount Street Crescent, Dublin 2, Ireland 33 Molesworth Street, Dublin 2, Ireland www.savills.ie Domhnaill O Sullivan +353 (0)1 618 1364 domhnaill.osullivan@savills.ie www.amoss.ie Jonathan Whisker +353 (0)1 212 0400 jwhisker@amoss.ie Roisin Rafferty +353 (0)1 618 1431 roisin.rafferty@savills.ie 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 001799 Government of Ireland. Brochure design by