9
CANON HALL Dublin Docklands 36 Apartment Multi-family Investment and 1 Retail Unit www.canonhall.ie
CANON HALL Dublin Docklands
36 Apartment Multi-family Investment and 1 Retail Unit
www.canonhall.ie
Investment Summary
32
Canon Hall, Church Street East, Dublin 3.
MODERN ONE & TWO BED APARTMENTS
RETAIL UNIT
27x 9x2 BED APARTMENTS 1 BED APARTMENTS
2008
COMPLETED
34
CURRENT INCOME
E522,720 ERV
E655,200
CLOSETO
CONVENTION CENTRE DUBLIN
IFSC
DART
LUAS
PARKING SPACES
• An opportunity to buy 36 apartments and a retail unit in a striking 11-storey block in Dublin’s Docklands.
• The Dublin apartment leasing market is performing very strongly with demand outstripping supply.
• Apartment rents grew by 8.7% during 2015.
• The offering is currently generating a rent of €522,720 per annum compared to its market rent of €655,200 per annum.
54
Bord Gáis Energy Theatre
Marker Hotel
River Liffey
Project Wave500,000 sq.ft. of commercial
space and 250 apartments
New Central Bank HQ 250,000 sq.ft. of offices
Spencer Dock
Spencer Dock-Phase 2 up to 700,000 sq.ft. of
offices
Tara Street Station
Trinity CollegeMerrion Square
Connolly Station
Docklands Station
Convention Centre
National College of Ireland
Point Village
3 ArenaGibson Hotel
LUAS Red Line
O’Connell Street
M3 Parkway Line
IFSC
DART Line
CANONHALL
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76
The Location
Canon Hall
Not to scale, for illustration purposes only.
3 Arena CHQ Building, IFSC
MV Cill Airne - Quayside Bar and RestaurantConvention Centre Dublin
Canon Hall is located in Dublin’s North Docklands directly opposite the proposed Phase 2 of Spencer Dock and approximately 250 metres from the proposed new Central Bank Headquarters on North Wall Quay.
Dublin’s Docklands is one of the finest urban regeneration projects in Europe. It is a 1,300 acre area between the traditional city core and Dublin Port. The development of the IFSC started this process 25 years ago. The area has developed into a vibrant office and residential quarter that has:
40,000 EMPLOYEES
20,000 RESIDENTS
1. Point Village2. 3 Arena3. Project Wave4. Central Bank of Ireland5. PWC6. AIG7. A&L Goodbody8. Citi9. Susquehanna10. JP Morgan11. KPMG12. The Spencer Hotel13. Jurys Hotel14. The Maldron Hotel15. Trinity College16. Ulster Bank17. Grant Thornton18. Bloomberg
19. Twitter20. Facebook21. TripAdvisor22. The Marker Hotel23. Bord Gáis Energy Theatre24. Capita25. Willam Fry26. HSBC27. Accenture28. Matheson29. State Street30. Bank of Ireland31. NAMA32. Mason Hayes & Curran33. Airbnb34. Google35. National College of Ireland36. CHQ
Transport by Numbers
200mSPENCER DOCKLUAS LINE STATION
1kmEAST TO CONNOLLYTRAIN STATION
300mDOCKLANDSTRAIN STATION
1.2kmTARA STREETDART STATION
Corporates by Numbers
CANONHALL
8 9
Description
Canon Hall
11-STOREYLandmark Building
RETAIL UNIT
CARPARKING
Basement
DRAMATICVIEWS
Across the city
BALCONIESor terraces on all units
COURTYARDLandscaped
Landscaped Courtyard
View from Balcony
• Canon Hall is an 11-storey development of 61 apartments and one retail unit over basement car parking of 57 spaces
• The scheme was completed in 2008 by McDermott & O'Farrell
• All of the apartments have balconies or terraces and there is a communal landscaped courtyard
• The upper floor units have stunning views across the city
• This sale includes 27 two-bedroom and 9 one-bedroom apartments, 34 basement parking spaces and a retail unit
11
Canon Hall is a development consisting of 61 apartments and one retail unit.Below are details of the investment opportunity for sale.
1 Bed 2 Bed 2 Bed Penthouse Retail TotalTotal 9 25 2 1 37
Average Unit Size (sq.m.) 51 73 85 149 2,605Average Unit Size (sq.ft.) 549 786 915 1,604 28,040
34 basement car parking spaces are included in the investment.Sizes are Gross Internal Area.
Canon Hall
Schedule of Accommodation
Living Room and Kitchen
Internal Courtyard
1312
Common Areas• CCTV to common area and access control• Landscaped courtyard areas • Quality paving throughout the development• Stairs and corridors finished in high-
quality carpeting• Individual post boxes• Secure underground parking/ CCTV
Kitchen• Contemporary designed kitchens• Integrated appliances• High-quality floor tiling
Bedrooms• Full height fitted wardrobes with integrated
shelves and hanging rails• Wired for TV and telephone in all bedrooms
Bathroom• Luxuriously appointed bathrooms• Fully tiled throughout• Chrome and glass bath/shower screen• Thermostatically controlled high-pressure shower
Windows and Doors• High-quality double-glazed composite windows
with floor to ceiling windows and patio doors in living room to maximise natural light
• Solid hardwood main entrance door to all apartments• Selected veneer doors with chrome furniture to
all internal doors
Heating and Hot Water• Natural Gas central heating in all apartments• Pressurised hot water system
Electrics• All apartments are pre-wired for cable television,
alarm and telephone• Security video intercom to all apartments• Generous electrical specification• Chrome finished switches and sockets in living
rooms and kitchens
Lift• High-speed lifts which serve all floors from
underground car park
Flooring• Hardwood flooring throughout
Canon Hall
Specification
Bathroom
Kitchen
Living Room
Balcony
Floor PlansAvailable on the Data Site.
Rateable ValuationRateable Valuation is €26,000. Dublin City Council Multiplier is 0.256. Commercial Rates are €6,656 per annum (RV x Multiplier).
TenureThe apartments in Canon Hall will be on individual leases for 500 years from the 1st January 2008.
Estate ManagementThe development is managed by McDermott & O’Farrell. Full details are available on the data site.
Building Energy RatingsThe BER’s for the subject apartments range from B1-B3. Individual BER details available on data site. The BER rating for the retail unit is D1.
Building SurveysAssignable building survey available onthe data site.
ViewingsViewings are strictly to be arranged through the joint selling agents.
Website and Data Sitewww.canonhall.ie
TermsFor Sale by Private Treaty in a single lot.
PricingOn application.
SolicitorsGartlan Furey Solicitors,20 Fitzwilliam Square South,Dublin 2.Ireland
14 15
Canon Hall
Further InformationInvestment / Tenancy Details
Economic Overview at a Glance
Building 1 Bed 2 Bed 2 Bed Penthouse Retail TotalTotal Units 9 25 2 1 37
Average Unit Size (sq.m.) 51 73 85 149 2,605Average Unit Size (sq.ft.) 549 786 915 1,604 28,040
No. of Current Vacant Units 0 1 1 1 3
Average Passing Rent per Unit (p.m.) €1,067 €1,344 €1,700 €0 €522,720 p.a.Estimated Rental Values per Unit (p.m.) €1,250 €1,554 €1,750 €1,000 €655,200 p.a.
design | conradjones.com
The Joint Agents and the Joint Vendors 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, Leassees 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. Lisney and / or Hooke & MacDonald nor any of their employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and Lisney and / or Hooke & MacDonald nor any of their 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.
• The Canon Hall apartments are let on short term residential tenancy agreements with the exception of two apartments, which are vacant
• The majority of the apartments are let by way of agreements under Part 4 of the Residential Tenancies Act, 2004
• The retail unit is vacant and ready for immediate occupation
• The table below outlines the current rents and estimated rental values (ERVs) for the investment opportunity at Canon Hall
DUBLINRATE
8.8%
8.7%
20%
10%
5% 4.8%
1.2%
4.1%
22%
APTRENTS RISING
GDP GROWTH
EXCHEQUERRETURNS
GROWING CONSUMER SPENDING
POP. GROWTHPROJECTED IN
DUBLIN 2016-2021
FALLING UNEMPLOYMENT
STRONGEST EMPLOYMENT
GROWTH RATE INEUROPE
DUBLIN IS THE INTERNET HUB OF EUROPE
1,150 INTERNATIONAL
CORPORATE’SHEADQUARTERED IN
DUBLIN
CANON HALL
www.canonhall.ie
Joint Selling Agents
Hooke & MacDonald118 Lower Baggot Street,Dublin 2,Ireland.
www.hookemacdonald.ie PSRA Licence No. 001651
David Cantwell+353 (0)1 631 [email protected]
Donald MacDonald+353 (0)1 631 [email protected]
Gavin Hanlon+353 (0)1 631 [email protected]
LisneySt. Stephen’s Green HouseEarlsfort Terrace, Dublin 2,Ireland.
www.lisney.comPSRA licence No.001848
Duncan Lyster+353 (0)1 638 [email protected] Lynda Gordon+353 (0) 1 638 [email protected] Frank McSharry+353 (0) 1 638 [email protected]
