For Sale by Private Treaty 12-13 EXCHANGE PLACE, IFSC, Dublin 1
The Property FOR IDENTIFICATION PURPOSES ONLY. Executive Summary Office investment opportunity in the heart of the IFSC 4 storey, own door development extending to 1,054 Sq. m (11,351 Sq. ft) Benefits from 4 surface car parking spaces Occupiers include international news agency Reuters, aircraft leasing company Elix Aviation and aircraft engine leasing company Willis Mitsui The building is fully let and producing an annual income of 290,932 per annum Guide Price - 4.3 million Net Initial Yield - 6.5% Location 12-13 Exchange Place is centrally located in the IFSC and forms part of the established Exchange Place development. The office development is located between George s Dock and Custom House Quay and forms an integral part of the IFSC. The IFSC is home to the world s leading international banks, insurance companies and financial institutions. KPMG, Sumitomo Bank, Citibank, AIG, JP Morgan (Chase), Commerzbank, BNP Paribas and Credit Suisse are just some of the prominent operations that have chosen to locate in the area. In addition to the finance sector, the location attracts a wide range of other occupiers including information technology, software development, legal and accountancy firms, aircraft leasing, new media and service companies.
Transport A key attraction of the area is the extensive public transport infrastructure centred on the IFSC which includes bus, tram (Luas), light rail (DART) and mainline rail. Connolly Station, Dublin s largest railway station, is located just minutes away and connects to intercity services such as Arrow and DART along with regional rail services. Busáras, the country s principal bus station, serves the IFSC and is located minutes from the building connecting to local and national bus services. Specification Plastered ceilings Recessed lighting Painted plastered walls Perimeter trunking Electric storage heating Solid floors with carpet flooring Passenger lift serving all floors Description 12-13 Exchange Place comprises a modern red brick, own door office building extending to approximately 1,054 Sq. m (11,351 Sq. ft), over 4 floors. The property forms part of a terraced block of office buildings, which were developed specifically to cater for smaller occupiers seeking accommodation within the IFSC market. The floor plates are laid out to provide a mixture of open plan and cellular offices. The offices are accessed via a shared internal lobby which is served by a shared passenger lift. The building benefits from 4 surface level car parking spaces.
Amenities The IFSC is a vibrant living quarter within the city centre where occupiers can choose from a variety of bars such as The Harbourmaster, restaurants such as Milano s and Il Fornaio, cafés such as Starbucks, Coffee Angel and Insomnia, hotels such as Jury s, The Spencer and The Gibson and convenience stores such as Spar and Mace. Tenancy Schedule Floor Tenant Size Rent per sq. ft Term From Reviews Expiry Total Rent per sq.ft Ground Part 1st 2nd 3rd Reuters International *Elix Aviation Elix Aviation Capital Ltd. Willis Mitsui & Co. 2,985 17.28 20 years 01/06/03 0 01/06/23 51,583 2,985 45.00 5 years 05/06/16 5 years 01/10/21 134,325 2,691 19.14 5 years 01/04/14 5 years 01/04/19 51,500 2,690 19.90 5 years 16/05/12 5 years 16/05/17 53,524 Total 11,351 290,932 *The deal with Elix Aviation on the 1st floor has been agreed and is due to execute shortly
BER VAT Not applicable Guide Price 4.3m Title Long Leasehold Solicitors Domhnaill Small Beauchamps Solicitors Riverside Two, Sir John Rogerson s Quay, Dublin 2 T: +353 (0)1 4180600 E: d.small@beauchamps.ie Contact Aishling O Hanlon Surveyor T: +353 (0) 1 637 5555 M: +353 (0) 87 690 2846 E: aishling.ohanlon@qre.ie Conor Whelan MSCSI MRICS Director T: +353 (0) 1 637 5555 M: +353 (0) 86 777 8808 E: conor.whelan@qre.ie qre.ie PSRA Registration No. 001798 The agents on their own behalf and on behalf of the vendor/lessor of this property, give notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither the agents nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Any representation including descriptions, dimensions, references to condition, permissions or licenses for uses or occupation, access and any 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 themselves (at their own expense) as to their correctness.