Document 418634

PORTFOLIO SUMMARY
•
24 units comprising a mixture of warehousing, retail warehousing and offices
•
20 units centralised within three estates
•
Total built area approximately 36,262 sq.m. (389,670 sq.ft.)
•
Units vary in size from 266.34 sq.m. (2,867 sq.ft.) to 9,290 sq.m. (100,000 sq.ft.)
•
Total current rent reserved €2,321,769 p.a.
•
Tenants include Lidl, Next, Argos, BWG, IDA, HSE
•
8 x units vacant
•
Numerous asset management and break up opportunities throughout the portfolio
•
Offers
in excess of €13,500,000 (Thirteen Million Five Hundred Thousand Euro) subject to contract
and exclusive of VAT
•
Net initial yield 16.46%
THE PROPERTIES
PROPERTY SCHEDULE
1 Unit D1, Block A Citylink Business Park, Old Naas Road, Dublin 12
Derry
Donegal
Antrim
2 Unit C1, Citylink Business Park, Old Naas Road, Dublin 12
3 Unit D1, Block D, Citylink Business Park, Old Naas Road, Dublin 12
Tyrone
Property Name
Area Sq.Ft.
Area Sq.M.
Contracted Rent
€ PSF on Let Area
Number of Tenants
Units Vacant
Unit D1, Block A Citylink Business Park, Old Naas Road, Dublin 12
18,415
1,711
€168,000
€9.12
3
0
Unit C1, Citylink Business Park, Old Naas Road, Dublin 12
4,340
403
€24,390
€5.62
1
0
Unit D1, Block D, Citylink Business Park, Old Naas Road, Dublin 12
2,988
278
€0
0
1
Unit D3, Block D, Citylink Business Park, Old Naas Road, Dublin 12
2,941
273
€35,000
€11.90
1
0
Unit D4, Block D, Citylink Business Park, Old Naas Road, Dublin 12
2,988
278
€20,000
€6.69
1
0
23 Goldenbridge Industrial Estate, Inchicore, Dublin 8
2,867
266
€13,000
€4.53
1
0
Antalis Building, Unit 11 Century Business Park, Finglas, Dublin 11
36,102
3,354
€340,000
€9.42
1
0
Unit 1, Merlin Commercial Park, Co. Galway
5,700
530
€56,000
€9.82
2
0
Unit 2, Merlin Commercial Park, Co. Galway
5,930
551
€165,000
€27.82
1
0
Unit 3, Merlin Commercial Park, Co. Galway
38,000
3,591
€294,000
€7.74
1
0
Unit 4, Merlin Commercial Park, Co. Galway
20,000
1,858
€240,529.03
€12.03
1
0
13 IDA Industrial Estate, Clonmore, Mullingar, Co. Westmeath
Unit 4A, Merlin Commercial Park, Co. Galway
16,500
1,533
€430,000
€26.06
1
0
14 Units 1-10 Monaghan Retail Park, Clones Road, Co. Monaghan
IDA Industrial Estate, Clonmore, Mullingar, Co. Westmeath
23,000
2,137
€209,000
€9.09
1
0
Units 1-10 Monaghan Retail Park, Clones Road, Co. Monaghan
109,899
10,209
€272,850
€2.48
3
7
‘Old CPV Site’, Carn , Clones, Co. Monaghan
100,000
9,290
€54,000
€0.54
1
0
TOTAL
389,670
36,262
€2,321,769
€10.20
19
8
4
Unit D3, Block D, Citylink Business Park, Old Naas Road, Dublin 12
Fermanagh
Leitrim
Sligo
15
14
Armagh
Down
Monagahan
Mayo
6
Cavan
Roscommon
5 Unit D4, Block D, Citylink Business Park, Old Naas Road, Dublin 12
Louth
23 Goldenbridge Industrial Estate, Inchicore, Dublin 8
7 Antalis Building, Unit 11 Century Business Park, Finglas, Dublin 11
Longford
8 -12
13
Galway
8
Meath
Westmeath
7
Laois
Kildare
6
1- 5
Dublin
Clare
Offaly
Wicklow
Carlow
Limerick
Tipperary
Kerry
Kilkenny
Wexford
Waterford
Cork
Unit 1, Merlin Commercial Park, Co. Galway (Polonez)
9 Unit 2, Merlin Commercial Park, Co. Galway (Smurfit Building)
10 Unit 3, MMerlin Commercial Park, Co. Galway (BWG)
11
Unit 4, Merlin Commercial Park, Co. Galway (Primary Care Centre)
12 Unit 4A, Merlin Commercial Park, Co. Galway (Lidl)
15 ‘Old CPV Site’, Carn , Clones, Co. Monaghan
Unit D1, Block A,
City Link Business
Park, Old Naas
Road, Dublin 12
Investment Summary
• Modern office building extending to approximately 1,711.45 sq.m. (18,415 sq.ft.)
• Located in a modern office and logistics park
• Extensive surface car parking
• Let to Damovo Ireland Ltd t/a Damovo
• Second floor sub-let to Down Syndrome Ireland
• Third floor sub-let to IFAC Accountants
• Lease expiry 2023
• Current rent €168,000 p.a.
THE PROPERTIES
LOCATION
DESCRIPTION
The property is situated within City Link Business Park which is
located on the northern side of the Naas Road close to its junction
with the Kylemore Road. The property is accessed directly off the old
Naas Road.
The property comprises an attractive detached four storey office building located at
the entrance to the City Link Business Park. Both the ground and first floor demise,
and the second and third floor demise benefit from independent entrances. The
main entrance leads to an attractive lobby area that provides access to a single
passenger lift and main stairwell. Each floor is laid out to provide a combination of
open plan and cellular office / meeting rooms which have been retrofitted to the
tenant’s own standards. All floors benefit from dual access via the central core.
Extensive surface car parking is provided to the front of the building.
The subject property is situated to the front of the estate and benefits
from strong road frontage onto the Old Naas Road.
The estate is situated approximately 8km west of Dublin city centre.
Road links are provided by the M50 Motorway and the N7 National
Primary Road, both situated approximately 1.5km to the west of the
property linking the estate with Ireland’s primary road networks.
Public transport is provided by the LUAS (Dublin Light Rail System)
which links the estate to the city centre. Journey time of circa 28
minutes.
Several Dublin Bus routes service the area providing access to city
centre and surrounding suburbs to include: 13, 18, 68, 69, 69X, 51X,
126 & 130.
Surrounding occupiers include FBD, McDonalds, Royal Liver Retail
Park to name but a few.
BUILDING SPECIFICATION
• Raised access floors throughout
• Power and data cabling supplied a combination of both perimeter trunking and
predominately raised floors
• Suspended ceilings
• Recessed fluorescent light fittings
• Air conditioning cassette units (in part)
• 2 X WC’s and disabled WC/Shower room per floor (with exception of third floor)
• 1 x 8 person passenger lift (Schindler)
• Electric storage heating
• CCTV
• Alarm
TENANCY SCHEDULE
D1, Block A
Lessee
Sq.M.
Sq.Ft.
Terms
Passing Rent
21 years from 01.01.2002
IRI terms/ Upward only rent reviews in years
6, 11 (passed) and 16
Damovo Ireland Ltd t/a Damovo
1,711.45 sq.m.
18,415 sq.ft.
Damovo Ireland Ltd have sub-let the second floor to
Down Syndrome Ireland and the third floor to IFAC
Accountants (Details of the sub leases are contained
within the project data room)
€168,000 p.a.
Unit C1, City Link
Business Park,
Old Naas Road,
Dublin 12
Investment Summary
• Modern warehouse / trade counter extending to approximately 403 sq.m.
(4,340 sq.ft.)
• Located in a modern office and logistics park
• Let to Java Republic Ltd
• Entire property sub-let to ZFC Ltd t/a Satworld
• Lease expiry 2024
Unit D1, Block D,
City Link Business
Park, Old Naas
Road, Dublin 12
Investment Summary
• Modern warehouse / trade counter extending to approximately 278 sq.m.
(2,988 sq.ft.)
• Located in a modern office and logistics park
• Vacant
• Fully fitted unit
• Asset management opportunity (opportunity to grow portfolio rental
income)
• Current rent €24,390 p.a.
LOCATION
The property is situated within City Link Business Park which is
located on the northern side of the Naas Road close to its junction
with the Kylemore Road. The property is accessed directly off the old
Naas Road.
The subject property is located to the western edge of the estate in
an end of terrace position.
The estate is situated approximately 8km west of Dublin city centre.
Road links are provided by the M50 Motorway and the N7 National
Primary Road, both situated approximately 1.5km to the west of the
property linking the estate with Ireland’s primary road networks.
Surrounding occupiers include FBD, McDonalds, Royal Liver Retail Park to name
but a few.
LOCATION
The property is situated within City Link Business Park which is
located on the northern side of the Naas Road close to its junction
with the Kylemore Road. The property is accessed directly off the old
Naas Road.
DESCRIPTION
The property comprises an end of terrace warehouse unit. The property is arranged
over ground and part first floor to provide ground floor trade counter / warehouse
accommodation together with two storey office accommodation (to the front of
the premises only). Access is via two automated roller shutter doors. There is
designated car parking for approximately 4 cars.
The subject property is located to the northern edge of the estate in
an end of terrace position.
The estate is situated approximately 8km west of Dublin city centre.
Several Dublin Bus routes service the area providing access to city
centre and surrounding suburbs to include: 13, 18, 68, 69, 69X, 51X,
126 & 130.
TENANCY SCHEDULE
D1, Block D
Sq.Ft.
Terms
Passing Rent
25 years from 01.06.1999
IRI terms / Open market rent reviews
every fifth year
UNIT C1
Java Republic Ltd
403 sq.m. 4,340 sq.ft.
The property comprises an end of terrace warehouse unit. The property is arranged
over ground and part first floor to provide ground floor trade counter / warehouse
accommodation together with two storey office accommodation (to the front of
the premises only). Access is via a single automated roller shutter doors. There is
designated car parking to the front of the unit for approximately 2 cars.
Public transport is provided by the LUAS (Dublin Light Rail System)
which links the estate to the city centre. Journey time of circa 28
minutes.
Several Dublin Bus routes service the area providing access to city
centre and surrounding suburbs to include: 13, 18, 68, 69, 69X, 51X,
126 & 130.
Sq.M.
DESCRIPTION
Road links are provided by the M50 Motorway and the N7 National
Primary Road, both situated approximately 1.5km to the west of the
property linking the estate with Ireland’s primary road networks.
Public transport is provided by the LUAS (Dublin Light Rail System)
which links the estate to the city centre. Journey time of circa 28
minutes.
Lessee
Surrounding occupiers include FBD, McDonalds, Royal Liver Retail Park to name
but a few.
Java Republic Ltd have sub-let the
entire to ZFC Ltd t/a Satworld (Details
of the sub lease are contained within
the project data room)
€24,390 p.a.
TENANCY SCHEDULE
Lessee
Sq.M.
Sq.Ft.
Terms
Passing Rent
Vacant
278 sq.m.
2,988 sq.ft.
-
-
Unit D3, Block D,
City Link Business
Park, Old Naas
Road, Dublin 12
Investment Summary
• Modern warehouse / trade counter extending to approximately 273 sq.m.
(2,941 sq.ft.)
• Located in a modern office and logistics park
• Let to Heyn Engineering Ltd t/a BFT
• Lease expiry 2025
• Current rent €35,000 p.a.
LOCATION
The property comprises a mid terrace warehouse unit. The property is arranged
over ground and part first floor to provide ground floor trade counter / warehouse
accommodation together with first floor office accommodation (to the front of the
premises only), there is also a half width metal mezzanine level to the rear of the
warehouse which is used as additional storage accommodation. Access is via a
single automated roller shutter doors. There is designated car parking to the front
of the unit for approximately 2 cars.
The estate is situated approximately 8km west of Dublin city centre.
Road links are provided by the M50 Motorway and the N7 National
Primary Road, both situated approximately 1.5km to the west of the
property linking the estate with Ireland’s primary road networks.
• Modern warehouse / trade counter extending to approximately 278 sq.m.
(2,988 sq.ft.)
• Located in a modern office and logistics park
• Let to Absolute Drain Services Ltd t/a Greenday
• Lease expiry 2014
• Current rent €20,000 p.a.
The property is situated within City Link Business Park which is
located on the northern side of the Naas Road close to its junction
with the Kylemore Road. The property is accessed directly off the old
Naas Road.
DESCRIPTION
The subject property is located to the western edge of the estate in
an end of terrace position.
Investment Summary
LOCATION
Surrounding occupiers include FBD, McDonalds, Royal Liver Retail Park to name
but a few.
The property is situated within City Link Business Park which is
located on the northern side of the Naas Road close to its junction
with the Kylemore Road. The property is accessed directly off the old
Naas Road.
D3, Block D
Unit D4, Block D,
City Link Business
Park, Old Naas
Road, Dublin 12
The subject property is located to the northern edge of the estate in
an end of terrace position.
The estate is situated approximately 8km west of Dublin city centre.
Public transport is provided by the LUAS (Dublin Light Rail System)
which links the estate to the city centre. Journey time of circa 28
minutes.
Several Dublin Bus routes service the area providing access to city
centre and surrounding suburbs to include: 13, 18, 68, 69, 69X, 51X,
126 & 130.
Several Dublin Bus routes service the area providing access to city
centre and surrounding suburbs to include: 13, 18, 68, 69, 69X, 51X,
126 & 130.
TENANCY SCHEDULE
TENANCY SCHEDULE
Heyn Engineering Ltd t/a BFT
Sq.M.
Sq.Ft.
Terms
273 sq.m.
2,941 sq.ft.
25 years from 01.01.2000
FRI terms/
Open market rent reviews every fifth year
Passing Rent
€35,000 p.a.
DESCRIPTION
The property comprises an end of terrace warehouse unit. The property is arranged
over ground and part first floor to provide ground floor trade counter / warehouse
accommodation together with first floor office accommodation (to the front of the
premises only). Access is via a single automated roller shutter doors. There is
designated car parking for approximately 2 cars.
Road links are provided by the M50 Motorway and the N7 National
Primary Road, both situated approximately 1.5km to the west of the
property linking the estate with Ireland’s primary road networks.
Public transport is provided by the LUAS (Dublin Light Rail System)
which links the estate to the city centre. Journey time of circa 28
minutes.
Lessee
Surrounding occupiers include FBD, McDonalds, Royal Liver Retail Park to name
but a few.
D4, Block D
Lessee
Absolute Drain Services Ltd t/a
Greenday
Sq.M.
Sq.Ft.
Terms
Passing Rent
278 sq.m.
2,988 sq.ft.
4 years 9 months from
01.02.2010/ IRI terms
€20,000 p.a.
Unit 23,
Goldenbridge
Industrial Estate,
Inchicore,
Dublin 8
Investment Summary
• Modern end of terrace warehouse / trade counter extending to
approximately 266.35 sq.m. (2,867 sq.ft.)
• Located in a modern well located industrial and logistics part
• Let to Ranelagh Print Bureau Ltd
• Current rent €13,000 p.a.
• Tenant overholding
Antalis Building,
Unit 11 Century
Business Park,
Finglas, Dublin 11
Investment Summary
• Modern industrial building with prominent position within Century Business Park
• Convenient access to the M50
• Let to Antalis Ireland Ltd
• D&B C2 rating
• Current rent €340,000 p.a.
• Break option September 2017
LOCATION
DESCRIPTION
LOCATION
The property is situated within Goldenbridge Industrial Estate which
is located on the eastern side of the Tyrconnell Road. The estate
is accessed directly off the Tyrconnell Road. The subject property
is situated fronting Goldenbridge Walk. The estate is situated
approximately 6km west of Dublin city centre.
The property comprises an end of terrace warehouse unit. The property is arranged
over ground and part first floor to provide ground floor trade counter / warehouse
accommodation together with two storey office accommodation (to the front of the
premises only), there is also a half width metal mezzanine level to the rear of the
warehouse which is used as additional storage accommodation. Access is via a
single automated roller shutter door to the side of the property. There is designated
car parking to the front of the unit for approximately 3 cars.
Century Business Park is situated south of the M50 on the eastern side
of St. Margaret’s Road and shares profile to both St. Margaret’s Road
and the new Distributor Road. The Park is strategically located within
two minutes’ drive of the N2 and approximately 1km from the M50
motorway providing immediate access to all of the major routes to and
from Dublin Airport and Dublin City Centre.
The industrial estate is easily accessible to the N7 (Naas Road) and
is approximately 5km east of the M50 Motorway. The M50 provides
easy access to all arterial routes to the north, west and south of the
country as well as Dublin Airport and the Dublin Port Tunnel.
Public transport is provided by the LUAS (Dublin Light Rail System)
at Blackhorse which links the estate to the city centre, with a journey
time of approximately 28 minutes. Several Dublin Bus routes service
the area providing access to city centre and surrounding suburbs to
include: 13, 68, 69 and 69N.
BUILDING SPECIFICATION
The M50 provides immediate access to all arterial routes around the
city along with access to Dublin International Airport and the Dublin
Port Tunnel which are both within 10 minutes’ drive.
•
•
•
•
•
DESCRIPTION
Warehouse: Steel portal frame construction incorporating full height block walls
Metal deck roof with intermittent translucent light panels
Sealed concrete floor
Office: Sold floor, suspended ceilings with recessed light fittings
Power and data supplied via perimeter trunking
TENANCY SCHEDULE
Lessee
Ranelagh Print Bureau Ltd
Sq.M.
Sq.Ft.
Terms
Passing Rent
266.35 sq.m.
2,867 sq.ft.
10 years from 1995 (expired 2005)
€13,000 p.a.
Accessibility has recently been further enhanced by the opening of the
new Link Road connecting Santry Business Park directly with the N2.
Unit 11 occupies a prominent position within Century Business Park
directly facing St. Margaret’s Road and Charlestown Shopping Centre.
The property comprises a purpose built warehouse facility constructed
in c. 2000 with a two storey office accommodation to the front. It has
an eaves height of 10 metres and is of steel frame construction with
composite panel cladding. The property includes approximately
763 sq.m. (8,213 sq.ft.) of offices within the two storey office to the
front. The warehouse element extends to approximately 2,569 sq.m.
(27,652 sq. ft.) with ancillary office space extending to approximately
22 sq.m. (237 sq.ft.).
• Air conditioning cassette units (in parts only)
• Mezzanine storage space directly overhead offices
WAREHOUSE SPECIFICATION
•
•
•
•
•
•
•
•
•
•
•
•
Twin span warehouse
2 x dock levellers
Automated roller shutter door
Substantial yard area
Steel frame construction with composite panel cladding
Air conditioning throughout
Metal deck roof with translucent light panels
3 x fire escapes
Extensive racking throughout
Delivery / Admin office
CCTV throughout
Sealed concrete floor
TENANT INFORMATION
Antalis is one of Ireland’s leading materials suppliers with approximately 32 employees
in Dublin. They have a market leading range of 13,000 products and sell an estimated
25,000 tonnes of paper every year. According to Dun & Bradstreet, Antalis Ireland Limited
have a rating of “C2” representing a lower than average risk of failure scoring 64 out
of 100. Also according to Dun & Bradstreet, Antalis Ireland Limited recorded a 2012
turnover of €27.4 million.
OFFICE SPECIFICATION
• Solid floors
• Suspended ceilings with recessed fluorescent lighting
• Data cabling and power via perimeter trunking
• 2 x canteens
• Combination of open plan office accommodation and cellular offices
/ meeting rooms (predominately the latter)
• Board room
• WC facilities on both floors
TENANCY SCHEDULE
Lessee
Antalis Ireland Ltd
Sq.M.
3,354 sq.m.
Sq.Ft.
Terms Passing Rent
36,102 sq.ft.
20 years from 21.10.2006
FR & I terms/ Upwards only €340,000 p.a.
rent reviews every 5 years/ Break year 11
Unit 1, Merlin
Commercial Park,
Doughiska, Co. Galway
Investment Summary
• Modern retail & office building
• Modern retail warehousing estate
• Let to Rezmerita Plus Ltd t/a Polonez & Doughiska Family Resource Centre Ltd
• Lease expiry 2022 & 2021
• Total current rent €56,000 p.a.
Investment Summary
• Modern Warehouse unit
• Modern retail warehousing estate
• Let to Smurfit Kappa Ireland Ltd t/a Connaught Packaging
• 12 month rolling tenancy
• Current rent €165,000 p.a.*
LOCATION
DESCRIPTION
LOCATION
DESCRIPTION
Galway is the fourth largest city in Ireland with an urban population of
some 75,000 people (as of the 2011 census).
The property comprises a detached three storey building located at the entrance to
the estate. Internally the property is arranged to provide a floor retail unit comprising
modern convenience store fit out, with two storeys of office accommodation
overhead. Externally the property benefits from “pull in” car parking to the front with
yard to the rear.
Galway is the fourth largest city in Ireland with an urban population of
some 75,000 people (as of the 2011 census).
The property comprises a single storey modern warehouse unit benefitting from
customer parking to front with yard area to the rear.
The city is situated approximately 98km north of Limerick and
approximately 85km west of Athlone. Dublin is situation approximately
208km to the east.
TENANT INFORMATION
The city is situated approximately 98km north of Limerick and
approximately 85km west of Athlone. Dublin is situation approximately
208km to the east.
Transport links are provided by the M6 Motorway is situated
approximately 5km to the east. Rail services to and from the city are
provided at Ceannt Station.
The property is situated approximately 6km north east of the
city centre in the suburb of Doughiska, at the eastern side of the
Doughiska Road, approximately mid-way between the junctions with
Dublin Road and Ballybane More. The area benefits from its close
proximity to the M6 Motorway and dense population.
Transport links are provided by the M6 Motorway is situated
approximately 5km to the east. Rail services to and from the city are
provided at Ceannt Station.
TENANT INFORMATION
Polonez are a Polish food supermarket with approximately 29 stores across the
country.
Surrounding occupiers include NCT Testing Centre, Centra, and
Galway Clinic.
TENANCY SCHEDULE
TENANCY SCHEDULE
Sq.M.
Sq.Ft.
Terms
€40,000 p.a.
€16,000 p.a.
Ground
Rezmerita Plus Ltd/ Polonez
390.18 sq.m.
4,200 sq.ft.
10 years from 5.11.2012
FR & I terms/ Stepped rent
rising to €42,000 p.a in yr 4. Rent
review year 5/ Break year 5
First & Second
Doughiska Family Resource
Centre Ltd
139.35 sq.m.
1,500 sq.ft.
10 years from 01.07.2011/ FR & I
terms/ Rent review year 5
Total
529.53 sq.m.
5,700 sq.ft.
Passing Rent
Lessee
Unit 2
€56,000 p.a.
For the year of 2013 Smurfit Kappa recorded revenue of €7.9 billion with a
opperating profit of €643 million.
The property is situated approximately 6km north east of the
city centre in the suburb of Doughiska, at the eastern side of the
Doughiska Road, approximately mid-way between the junctions with
Dublin Road and Ballybane More. The area benefits from its close
proximity to the M6 Motorway and dense population.
Surrounding occupiers include NCT Testing Centre, Centra, and
Galway Clinic.
Lessee
Unit 1
Unit 2, Merlin
Commercial Park,
Doughiska, Co. Galway
Smurfit Kappa Ireland Ltd t/a Connaugh
Packaging
Sq.M.
Sq.Ft.
Terms
Contracted Rent
551 sq.m.
5,930 sq.ft.
12 month rolling tenancy
€165,000 p.a.*
*We are informed that the tenant is currently withholding rental payments.
Unit 3, Merlin
Commercial Park,
Doughiska, Co. Galway
Investment Summary
• Substantial modern retail warehouse and distribution facility
• Modern retail warehousing estate
• Let to BWG Foods Ltd
• 14 years unexpired
• Contractual rent €340,000 p.a.
• Abated rent €294,000 p.a. (expiry July 2018)
Investment Summary
• Modern health care facility
• Let to HSE
• Government tenant
• 22 years unexpired
• Breaks subject to minimum GP requirement
• Current rent €240,529.03 p.a.
LOCATION
DESCRIPTION
LOCATION
DESCRIPTION
Galway is the fourth largest city in Ireland with an urban population of
some 75,000 people (as of the 2011 census).
The property comprises a modern retail warehouse unit of steel frame construction
under a pitched metal decked roof. Internally the property is arranged to provide
two storey offices to front with a substantial retail warehouse and distribution
facility to the rear. The property benefits from four dock-levellers to the southern
end of the building, with a further roller shutter entrance at the northern end, staff
and customer access is provided to the front at the building. A car parking area is
provided to the front with further yard area provided to the northern and southern
ends of the property.
Galway is the fourth largest city in Ireland with an urban population of
some 75,000 people (as of the 2011 census).
The property comprises a detached modern two storey health care facility of
Kingspan metal deck cladding and metal deck roof. The property is positioned on
an extensive shared surface level car park.
The city is situated approximately 98km north of Limerick and
approximately 85km west of Athlone. Dublin is situation approximately
208km to the east.
Unit 3
Unit 4, Merlin
Commercial Park,
Doughiska, Co. Galway
Transport links are provided by the M6 Motorway is situated
approximately 5km to the east. Rail services to and from the city are
provided at Ceannt Station.
The property is situated approximately 6km north east of the
city centre in the suburb of Doughiska, at the eastern side of the
Doughiska Road, approximately mid-way between the junctions with
Dublin Road and Ballybane More. The area benefits from its close
proximity to the M6 Motorway and dense population.
Surrounding occupiers include NCT Testing Centre, Centra, and
Galway Clinic.
TENANT INFORMATION
BWG Foods operate Spar, Spar Express, Euro Spar, Mace, BWG Food Service,
Xpress Stop, Value Centre, XL, and BWG. The company is estimated to have
a 35% share of the Irish convenience store market and an annual turnover of
approximately €1.2 billion.
TENANCY SCHEDULE
Lessee
BWG Foods Ltd t/a Value
Centre
Unit 4
The city is situated approximately 98km north of Limerick and
approximately 85km west of Athlone. Dublin is situation approximately
208km to the east.
Transport links are provided by the M6 Motorway is situated
approximately 5km to the east. Rail services to and from the city are
provided at Ceannt Station.
TENANT INFORMATION
The HSE is a public sector organisation with an annual budget of approximately €13
billion, it is also Ireland’s largest employer with approximately 67,000 employees.
The property is situated approximately 6km north east of the
city centre in the suburb of Doughiska, at the eastern side of the
Doughiska Road, approximately mid-way between the junctions with
Dublin Road and Ballybane More. The area benefits from its close
proximity to the M6 Motorway and dense population.
Surrounding occupiers include NCT Testing Centre, Centra, and
Galway Clinic.
TENANCY SCHEDULE
Sq.M.
3,590.5 sq.m.
Sq.Ft.
Terms
38,000 sq.ft.
25 years from 21.07.2003
FR & I terms/ Upwards only rent
reviews every 5 years/ Rent abatement
from 07 2013 to 07 2018 / Break years
3 & 8 (passed)
Contracted Rent
€340,000 p.a.
Passing Rent
€294,000 p.a.
Lessee
Health Services Executive (HSE)
Sq.M.
1,858 sq.m.
Sq.Ft.
20,000 sq.ft.
Terms
25 years from 22.08.2011
CPI reviews every 5 years/ FR & I Terms/
Break clauses applicable if GP numbers
fall below 3
Passing Rent
€240,529.03 p.a.
Unit 4A, Merlin
Commercial Park,
Doughiska, Co. Galway
Unit 4A
IDA Industrial
Estate, Clonmore,
Mullingar, Co. Westmeath
Investment Summary
• Modern detached retail unit
• Let to Lidl Ireland GMBH t/a Lidl
• Lease expiry 2033
• Breaks 2012 (expired), 2016, 2020
• Current rent €430,000 p.a.
Investment Summary
• Detached, single tenant office building
• Let to IDA
• Government tenant
• 3.25 years unexpired
• Current rent €209,000 p.a.
LOCATION
DESCRIPTION
LOCATION
DESCRIPTION
Galway is the fourth largest city in Ireland with an urban population of
some 75,000 people (as of the 2011 census).
The property comprises a detached modern retail unit arranged to provide an open
plan retail unit / supermarket together with ancillary storage. The property benefits
from car parking to front and a large car park to side (shared with Primary Health
Care Centre) with capacity for approximately 157 car spaces.
Mullingar is the county town of Westmeath with a population of some
20,000 people (as of the 2011 Census).
The property comprises a detached two storey facility of metal deck cladding
and metal deck roof. The property benefits from a surface level car park to the
front and rear of the property. Internally the property provides two storey office
accommodation to the front with warehouse to the rear.
The city is situated approximately 98km north of Limerick and
approximately 85km west of Athlone. Dublin is situation approximately
208km to the east.
Transport links are provided by the M6 Motorway is situated
approximately 5km to the east. Rail services to and from the city are
provided at Ceannt Station.
The property is situated approximately 6km north east of the
city centre in the suburb of Doughiska, at the eastern side of the
Doughiska Road, approximately mid-way between the junctions with
Dublin Road and Ballybane More. The area benefits from its close
proximity to the M6 Motorway and dense population.
The town is situated approximately 22km north west of Kinnegad and
50km east of Athlone.
TENANT INFORMATION
Transport links are provided by the N52 and N4 which in turn provides
access to the M4 motorway.
TENANT INFORMATION
Lidl are a global supermarket chain, Lidl Ireland currently operate approximately
170 stores throughout the country.
The property is situated within Mullingar Business Park, at the western
side of Mullingar Town.
The IDA are a state agency of the Department of Jobs, Enterprise and Innovation
executives. The agency was created in 1949 and is responsible for creating direct
industrial investment into the country.
Surrounding occupiers include NCT Testing Centre, Centra, and
Galway Clinic.
TENANCY SCHEDULE
Lessee
Lidl Ireland GMBH t/a Lidl
TENANCY SCHEDULE
Sq.M.
1,532.85 sq.m.
Sq.Ft.
Terms
16,500 sq.ft.
25 years from 27.10.2008
FR & I terms/ Upwards only rent reviews every 5 years/ Break
years 4, 8 & 12
Passing Rent
Lessee
€430,000 p.a.
Industrial Development Authority (IDA)
(Sublet to H & G Midas Technology
Solutions)
Sq.M.
2,137 sq.m.
Sq.Ft.
23,000 sq.ft.
Terms
35 years from 05.02.1983
CPI reviews every 5 years
FR & I Terms
Passing Rent
€209,000 p.a.
Units 1-10
Monaghan Retail
Park, Clones Road, Co. Monaghan
‘Old CPV Site’,
Carn, Clones,
Co. Monaghan
Investment Summary
• Substantial modern retail warehouse park
• Extending to approximately 109,000 sq.ft.
• Anchored by Argos & Next
• Approximately 14 years unexpired each
• Total contracted rent €272,850 p.a.
Investment Summary
• Substantial warehouse facility
• Situated on a site extending to approximately 10 acres
• Let to Alpha Tank Ltd
• Single tenant in occupation
• Total current rent €186,502.56 p.a.
• Approximately 1.25 years unexpired
• 7 Units vacant
• Current rent €54,000 p.a.
• Asset management opportunity
LOCATION
The County Town of Monaghan has a population of 7,400 people (as of the 2011
Census).
The town is situated towards the border with Northern Ireland, approximately 54km
north west of Dundalk and approximately 57km west of Newry, Dublin is situated
some 130km to the south east.
Transport links are provided by the N2, N12, and N54, with the N2 providing access to
the M1 and in turn Dublin, with the N12 providing access to the A3 and in turn Belfast.
The property is situated on the northern side of the N54 approximately 2.5km to
the south west of the town.
DESCRIPTION
The property comprises 10 retail warehouse units arranged across a single block
with customer car parking to front. The units are of steel frame construction set
underneath a metal decked roof. The property benefits from an extensive surface
level customer car park to the front.
LOCATION
DESCRIPTION
The County Town of Monaghan has a population of 7,400 people (as
of the 2011 Census).
The property comprises a number of industrial & warehouse units, two of
which are listed buildings and in total the buildings extend to approximately
100,000 sq.ft., 6,000 sq.ft of which is in use as offices. The properties are
situated on a wider site extending to approximately 10 acres within the
Clones Town boundary.
The town is situated towards the border with Northern Ireland,
approximately 54km north west of Dundalk and approximately 57
west of Newry, Dublin is situated some 130km to the south east.
Transport links are provided by the N2, N12, and N54, with the N2
providing access to the M1 and in turn Dublin, with the N12 providing
access to the A3 and in turn Belfast.
TENANCY SCHEDULE
Unit
Lessee
Sq.M.
Sq.Ft.
Terms
Contracted Rent
Passing Rent
1
Vacant
2,641 sq.m.
28,427 sq.ft.
-
-
-
2
Vacant
771 sq.m.
8,299 sq.ft.
-
-
-
3
Vacant
771 sq.m.
8,299 sq.ft.
-
-
-
4
Next Group PLC t/a Next
1,415 sq.m.
15,230 sq.ft.
20 years & 1 week from 25.08.2008
Reviews every 5 years
FR & I terms
€124,695 p.a.
€62,347.56 p.a.
5
Vacant
458 sq.m.
4,930 sq.ft.
-
-
-
6
Car Parts Distribution Ltd
610 sq.m.
6,565 sq.ft.
12 months from 06.01.2010 (overholding)
€24,000 p.a.
-
7
Vacant
458 sq.m.
4,930 sq.ft.
-
-
-
8
Argos Distributors Ireland
Ltd t/a Argos
1,543 sq.m.
16,609 sq.ft.
20 years & 1 day from 22.10.2008
Reviews every 5 years
FR & I terms
Break year 15
€124,155 p.a.
€124,155 p.a.
9
Vacant
771 sq.m.
8,299 sq.ft.
-
-
-
10
Vacant
771 sq.m.
8,299 sq.ft.
-
-
-
Total
10,209 sq.m.
109,899 sq.ft.
Total
€272,850 p.a. €186,502.56 p.a.
The property is situated on the western side of the N54 approximately
0.5km to the north west of the town.
The development is located on Church Hill Road, which is within
Clones Town Centre and walking distance of all amenities.
TENANCY SCHEDULE
The Property
Lessee
Alpha Tank Ltd
Sq.M.
Sq.Ft.
Terms
Passing Rent
9,290 sq.m.
100,000 sq.ft.
3 years from 01.02.2013
FR & I terms
€54,000 p.a.
FURTHER INFORMATION
PRICING
The entire is for sale by Private Treaty. We are inviting offers in excess of €13.5 million (Thirteen Million
and Five Hundred Thousand Euros) subject to contract and exclusive of VAT, reflecting a net initial yield of
16.46% after normal purchaser’s costs of 4.46% for the portfolio.
VAT
Information on VAT is provided for each property within the Project Steel data room.
VIEWINGS
Viewings are strictly to be arranged through the sole selling agents. This is an investment sale and as a
result tenants are not affected.
BER
The BERs for the assets contained in this portfolio range from
Individual BERs are available from the dedicated data room.
SOLICITOR DETAILS
THE PROPOSAL
FURTHER INFORMATION / DATA ROOM
Detailed tenancy schedules and further information for each of the properties is available on
the dedicated data room. To request access please go to: allsopspace.ie and follow link to
projectsteel.allsopspace.ie
CONTACT
Richard O’Neill
01 667 3388
[email protected]
Bryan Garry
01 667 3388
[email protected]
Ian Lyons
01 667 3388
[email protected]
Dublin (Citylink & Goldenbridge)
Damien Hand, Kane Tuohy, The Malt House North, Grand Canal Quay, Dublin 2
(01) 672 2233
Dublin (Century Bus Park only)
Tom Davey, Mason Hayes & Curran, South Bank House, Barrow St, Dublin 4
(01) 614 5000
Galway Properties Terry O’Malley, Eversheds, One Earlsfort Centre, Earlsfort Terrace, Dublin 2
(01) 664 4200
Westmeath Property Kate Forde, AC Forde, 14 Lansdowne Rd, Dublin 4
(01) 660 8955
Monaghan Properties Bernadette Lydon, Gore & Grimes, Cavendish House, Stable Lane, Smithfield, Dublin 7
(01) 872 9299
Allsop Space Ltd on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop Space Ltd is, gives 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
Allsop Space Ltd 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. PSRA Registration No. 001652.
Design | conradjones.com | 41080
Offers in excess of €13,500,000 (Thirteen Million and Five Hundred Thousand Euro) subject to contract and exclusive of VAT.
This reflects a net initial yield of 16.46% after normal purchaser’s costs of 4.46%.
allsopspace.ie
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