RET AIL CENTRE BALLYMOUNT DUBLIN 12...

Freehold Retail Centre Investment

BALLYMOUNTR E T A I L C E N T R E

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To Dublin y

Junction 10

z To South

M50

M50

Ballymount Road Lower

Ballymount Road Upper

| PAGE 2 | BALLYMOUNT RETAIL PARK

Approximately 9,035 sq m (97,253 sq ft) of retail and office space

88% of the current income is secured to national/multinational

Weighted average unexpired lease term of 14.90 years (no breaks) 7.49 years (including breaks)

Benefits from approx. 344 surface level car parking spaces at a ratio of 1:282


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INVESTMENT CONSIDERATIONS

7.49 years

€1,223,059 passing rent with 60% of the tenants national occupiers

Tilestyle - 43% of the income secured by Tilestyle Limited

Key anchor tenants include Tilestyle, TJ O’Mahony, SIG Building Products and Spar

Offers sought in excess of €13.81m reflecting a net initial yield of 8.48% assuming standard purchasers costs of 4.46%

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LOCATIONBallymount Retail Centre is located approximately 9 kilometres south west of Dublin City Centre, to the east of the M50 motorway and within 100m of the junction linking the Old Ballymount Road directly to the M50.

The M50 motorway provides rapid motorway access from Bray to Dublin Airport and to all of the main arterial routes from Dublin. The Luas red line from Connolly Station to Tallaght is within a 15 minute walking distance from the subject property.

The development occupies a pivotal position at the junction of Ballymount Road Upper and Lower. The Centre comprises two detached blocks on a site area of approximately 2.02 hectares (4.99 acres).

N2

N1

M3

N7

N4

N7

N81

N81

N11

N11

M50

M50

M2

M50

M50

M50

M50

M1

M1

M1

TRAIN LINE

MALAHIDE

PORTMARNOCK

CLONTARF

BALLSBRIDGECRUMLIN

BALLYMOUNT

TALLAGHT

CLONDALKIN

BLANCHARDSTOWN

LUCAN

BLACKROCKDUN LAOGHAIRE

DUNDRUMSANDYFORDIND. ESTATE

DUNBOYNE

SWORDS

DONABATE

BLAKESCROSS

LUSK

TYRELLSTOWNKILBRIDE

ASHBOURNE

SANTRY

BEAUMONT

DUBLINAIRPORT

DRUMCONDRA

EXPRESSPORTTUNNEL

DUBLIN PORT

PHOENIXPARK

MARLEYPARK

DUBLIN BAY

DUBLINCITY CENTRE

LUAS RED LINE

LUAS

GRE

EN L

INE

M50

M50

M50

M50

M1

UCD

St Stephen’sGreen

HeustonStation

Connolly StationBusárasBus Station

All Trains toM3 Parkway

�

All Trains to Sligo

�

All Trains to Rosslare

�

All Trains to Belfast

�

ConnollyHospital

Institute ofTechnologyBlanchardstown

Draiocht ArtsCentre

Blanchardstown Town Centre

WestpointBusiness Park

DamastownIndustrial Park

DublinZoo

Criminal Courts

Henry StRetail Area

TrinityCollege

St VincentsHospital

RTEMontrose

RDS

MaterHospital

CrokePark

St. Patrick’sCollege

Dublin CityUniversity

North RingBusiness Park

PavilionsShoppingCentre

SwordsBusinessPark

TallaghtShoppingCentre

Cookstown / TallaghtIndustrial Area

BeaumontHospital

ArtaneShoppingCentre

Clare HallShoppingCentre

DonaghmedeShoppingCentre

St James’sHospital

Temple Bar

NationalAquaticCentre

Royal Canal

Grand Canal

Graf

ton

St

MARLFIELD

KINGSTOWN CROSS

ROADS

DARDISTOWN

SKEPHUBBLE

SAINT DOOLAGHS

SUMMERTON

FELTRIM

GALLOPING GREEN

DUNSINK

BELCAMP

FORREST GREAT

SEA MOUNT

DRUMLECK

KINGSWOOD

BALLYCORDEN

BELGARD

WHITECHURCH

MULHUDDART

LUTTRELL’S CROSS

ROADS

CHAPELMIDWAY

WILLIAMSVILLE

ABBOTSTOWN

CAPPOGE

DOLLYMOUNT

SAINT MARGARET’S

FORT BRIDGE

WOODLANDS

WARD

WOODTOWN

KILLEEK

ROCKBROOK

AYLESBURY

BELMAYNE

GRATTAN LODGE

KINSEALEY

BALGRIFFIN

CLOGHRAN

BOHERNABREENA

NEWTOWN CROSS

WARD CROSS

KILCOSCAN

WHITESTOWN

LITTLEPACE

TYRRELSTOWN

PERRYSTOWN

BALLYROAN

RATHMINES

DEANS GRANGE

DRUMCONDRA

BALLSBRIDGE

PHIBSBOROUGH

IRISHTOWN

CHAPELIZOD

KILL OF THE GRANGE

FINGLAS

CLONSILLA

BOOTERSTOWN

CABRA

ARTANE

BALLYFERMOT

STILLORGAN

CLONTARF

LEOPARDSTOWN

MARINO

ISLANDBRIDGE

MILLTOWN

RAHENY

SANDYMOUNT

CASTLEKNOCK

RATHFARNHAM

CABINTEELY

DALKEY

MONKSTOWN

FOXROCK

RINGSEND

WALKINSTOWN

DRIMNAGH

SANDYFORD

PALMERSTOWN

BEAUMONT

BALLINTEER

WINDY ARBOUR

GLASNEVIN

BALLYBODEN

RATHGAR

CORNELSCOURT

CHURCHTOWN

EAST WALL

KILLESTER

DONAGHMEDE

CLONGRIFFIN

BAYSIDE

BALDOYLE

KNOCKLYON

PORTOBELLO

DOCKLANDS

THE LIBERTIES

KIMMAGE

STONEYBATTER

SMITHFIELD

CRUMLIN

KILMAINHAM

KILLINEY

INCHICORE

DONNYBROOK

RANELAGH

GOATSTOWN

SALLYNOGGIN

DOLPHIN'S BARN

COOLOCK

SUTTON

SEABROOK MANOR

FAIRVIEW

DONNYCARNEY

WHITEHALL

PORTMARNOCK

FIRHOUSE

BLUEBELL

CLONSKEAGH

BALLYOGAN

TERENURE

MOUNT MERRION

BALLYMUN

KILBARRACK

TEMPLEOGUE

KILBRIDE

SANTRY

Phoenix Park

ONGAR

VILLAGE

LUCAN

MALAHIDE

DUNDRUM

HOWTH

BLACKROCK

SWORDS

CLONDALKIN

BLANCHARDSTOWN

TALLAGHT

DÚN LAOGHAIRE

RIALTO

PORTMARNOCK

DRYNAM HALL

RIDGEWOOD

LISSENHALL

SEATOWN PARK

APPLEWOOD

BALROTHERY

NEWBRIDGE DEMENSE

DONABATE

PORTRANE

ROGERSTOWN ESTUARY

KILSALLAGHAN

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Clonsilla

Coolmine

Castleknock

Navan Road Parkway

Ashtown

Broombridge

Drumcondra

Tara Street

Pearse

GrandCanal Dock

Landsdowne Rd

Sandymount

SydneyParade

Booterstown

Blackrock

Seapoint

Salthill &Monkstown

Dún Laoghaire

Sandycove& Glasthule

Glenagery

Dalkey

Clondalkin

Cherry Orchard& Parkwest

Clontarf Road

Killester

Harmonstown

Raheney

Kilbarrack

Howth Junction BaysideSutton

Howth

Portmarnock

Malahide

The PointSpencer Dock

Mayor SquareGeorge’s DockAbbey

StreetJervisMuseum

Four courtsHeuston

Smithfield

James’s

FatimaRialto

Dawson St

Harcourt

UCD

Blanchardstown

Tallaght

Station

Suir RoadGolden Brigde

Drimnagh

Black Horse

Bluebell

Kylemore

Cabra

Phibsborough

Grangegorman

Broadstone/DIT

Dominick St.

Parnell St.

M50

M1

M50

w

SWORDS

DUBLINAIRPORT

DUBLINCITY CENTRE

BALLYMOUNT

M50

M50

Junction 10

Junction 9


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} Block C is located on the northern end of the site and is of a similar age and construction to block one. It consists of an L shaped two storey building arranged to provide 7 retail units at ground floor totalling 1,698 sq m (18,273 sq ft) and a self-contained office suite at first floor level totalling 1,952 sq m (21,016 sq ft).

} The entire development provides for approximately 344 car parking spaces which is a ratio of 1:282 sq ft.

} The site extends to approximately 2.02 hectares (4.99 acres).

} Access is easily facilitated in all directions via Ballymount Road Upper and Lower.

} Tenants include Tilestyle, TJ O’Mahony, Spar, Subway, Hilti, Airsoft, Josh’s Place and SIG.

TOWN PLANNINGThe subject properties are zoned Objective EP2 which is defined as ‘To facilitate opportunities for manufacturing, research and development facilities, light industry, employment and enterprise related uses in industrial areas and business parks under the South County Dublin development plan 2010 – 2016.

TENUREFurther information available in data room.

DESCRIPTION


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} Developed in 2006, the park consists of 9 retail units and 1st floor office accommodation across 9,035 sq m (97,253 sq ft) of commercial space.

} The park is laid out in 2 separate blocks.

} Block A, located on the southern side of the site, consists of two retail warehousing units totalling 5,385 sq m (57,965 sq ft).

} The square shaped block is of steel frame construction with brick and glazed curtain frontages and composite panel walling.

} Internally the units are arranged to provide retail warehousing on ground floor with mezzanine office space to the rear

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TJ O’MAHONY & SONS LTD - They are a supplier to trade, self-builder and DIY customer for timber and building materials. TJ O'Mahony and Sons Ltd was incorporated on the 17th October 1980..The company eventually moved to its current site on Ballymount in the late 1980’s.

TILE STYLE LIMITED – Company incorporated in 1981 - Awarded “National Store of the Year 2016” at the most recent Retail Excellence Ireland Awards. Retailer of tiles, bathrooms, wood and stone floors. Ballymount is their flagship store.

JOHN & EDWARDS GLENNON T/A SPAR – Guaranteed by Newhill Ltd, a subsidiary of the BWG group. This is the main convenience store offering within the Ballymount Industrial Estate, serving the immediate area.

SUBWAY OF IRELAND LTD – This is the main fast food offering within the Ballymount Industrial Estate, serving the immediate area.

HILTI (FASTENING SYSTEMS) LTD – The Hilti Group is a world-leading manufacturer and supplier of quality, innovative and specialised tools and fastening systems for professional users in a variety of trades. Founded in 1941 the worldwide Hilti Group evolved from a family company. Headquarters for Hilti (Fastening Systems) Ltd. are located in Dublin in North City Business Park, Finglas, Dublin.

IWANTONE LIMITED T/A HOBBY AIRSOFT – Incorporated in 2008 Airsoft are a supplier of airsoft guns and accessories. Located in Cork & Dublin and Ballymount is considered their flagship store.

DRINLEE LTD T/A JOSH’S PLACE – Family run local cafe, incorporated in 2010. They open for breakfast, lunch and dinner. They also offer a catering and function service.

SIG BUILDING PRODUCTS LTD - SIG Ireland is a subsidiary of SIG plc, a leading distributor of specialist building products in Europe. The Group has a product and service offering of significant scale with strong positions in its three core markets of Insulation & Energy Management, Interiors and Exteriors. SIG occupy the office element of the premises.

OCCUPIERS



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TENANCY SCHEDULE

Unit Tenant Trading As Lease Length

Floor areas Sq M

Floor areas Sq Ft

Lease Start Date

Lease Expiry

Next Review Date

Earliest Break Date

Passing Rent (psf) Comments

Block A

Unit 1 Tilestyle Limited Tilestyle 25 years 3,775.03 40,634.00 16/03/07 15/03/32 16/03/2017 15/03/22 €521,100

Contracted rent €579,000 p.a. Rent abatement of 10% expired 31/12/2015. Tenant seeking extension of abatement. Floor area excludes tenants mezzanine. Tenant seeking assignment of lease as part of restructure. Floor area contained in the lease of 40,634 sq ft.

Unit 1A T.J. O'Mahony & Sons Limited T.J. O'Mahony 25 years 1,610.01 17,330.00 01/05/06 30/04/31 01/05/2016 €150,000

TJ O'Mahony & Sons Ltd trading from unit. A deed of variation of the terms of the existing leasse was entered with the tenant on the 7th September.. Floor area contained in the lease of 17,330 sq ft.

Block C Ground

Unit 1/2 A John & Edward Glennon t/a The Glennon Group Spar 25 years 321.50 3,460.59 02/04/07 01/04/32 02/04/2017 €112,470 Floor area contained in the lease of 321.50 sq m. Guaranteed by

Newhill Ltd

Unit 2B Subway of Ireland Ltd Subway 25 years 108.88 1,172.00 01/04/07 31/03/32 01/04/2022 €30,000

Contracted rent €38,045.53 p.a. Variation of lease currently under negotiation to include rent abatement of €30,000 until 31/04/2022 with no rent review to take place on 31/04/2017 in return for tenant waiving break option. Floor area contained in the lease of 1,172 sq ft.

Unit 3A Hilti (Fastening Systems) Ltd Hilti 10 years 204.40 2,200.14 06/10/14 05/10/24 06/10/19 05/10/19 €27,687

Gross rent of €40,000 inclusive of rates €9,477 & S/c €2,836 for the 1st 5 years of the term. Net rent €27,687. Floor area contained in lease for unit 3B of 204.4 sq m.

Unit 3B + 4A

I Want One Limited t/a Hobby Airsoft Airsoft 5 years 213.10 2,293.79 20/11/14 19/11/19 19/11/17 €27,000

Unit 3B original lease at €15,000 p.a. Keep open clause. Heads of terms negotiated to amalgamate with unit 4A. Tenant in occupation under oral agreement since June 2015 of unit 4A paying a licence fee of €1,000 + VAT per month. Area contained in lease for unit 3B 204.4 sq m under the demised area but lease map refers to area of 105 sq m. Total sq ft as measured by Malcolm Hollis is 213.10 sq m for the amalgamated units 3B + 4A.

Unit 4B Vacant 215.26 2,317.00 €0 Shell & Core Condition

Unit 5 Vacant 423.73 4,561.00 €0 Shell & Core Condition - Planning permission granted for this unit is for creche use.

Unit 6 Drinlee Ltd Josh's Place 20 years 210.70 2,268.00 10/01/10 09/01/30 15/04/17 €38,500 Drinlee Ltd are currently subtenants - Please see find further information on data room in relation to the Head Lease.

Block C First Floor

1st Floor SIG Building Products Ltd 25 years 1,952.45 21,016.00 01/03/07 29/02/32 01/03/2017 28/02/22 €316,302

Total 9,035.06 97,252.52 €1,223,059

The above schedule is provided on a without prejudice basis and for discussion purposes only. The agents, vendors, solicitors, receivers et al do not warrant the accuracy of the above in any way. This schedule is provided for information purposes only and should not be used to influence any transaction or for funding purposes.

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HOBBY AIRSOFT

Unit 4b

Unit 5Josh’sPlace

} Ballymount Retail Centre equates to a total area of c. 9,035 sq m (97,253 sq ft)

} Anchored by Tilestyle Ltd on a 25 year lease to March 2032, with a tenant break option in March 2022, which equates to 43% of the total income stream.

} 8 individual tenancies, all of which are se-cured under Full Repairing and Insuring terms.

} Provides a net rental income of €1,223,059 per annum.

} An attractive WAULT of 7.49 years.

} 2 vacant units in Block B – 7% vacancy

} Landlord shortfalls of €7,585.97 per annum

FLOOR PLANSTENANCY OVERVIEW

BLOCK A

BLOCK C GROUND

BLOCK C FIRST FLOOR

Unit Retail Occupier Sq m Sq ft

Block A

1 Tilestyle 3,775 40,634

1A T.J. O’Mahony 1,610 17,331

Total 5,385 57,965

Block B Ground

1/2A Spar 322 3,461

2B Subway 109 1,171

3A Hilti 204 2,200

3B+4A Airsoft Hobby 213 2,294

4B Available 215 2,317

5 Available 424 4,561

6 Josh’s Place 211 2,275

Total 1,698 18,273

Office Occupier Sq m Sq ft

Block B First Floor

SIG Ireland 1,952 21,016


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For indicative purposes only.

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HOBBY AIRSOFT Josh’s Place

WHY INVEST IN IRISH RETIAL

n 0-5 years n 5-10 yearsn 10 years n 15 years plus

n 0-5 years n 5-10 yearsn 10 years n 15 years plus

n Local n National n International

INCOME EXPIRY PROFILE (assuming no breaks exercised)

INCOME EXPIRY PROFILE(assuming breaks exercised)

INCOME BY OCCUPIER TYPE

INCOME ANALYSIS

€27,000 / 2.21% €93,187 / 7.62%€27,687/2.26%

€188,500 / 15.41%

€316,302 / 25.86%

€150,970 / 12.34%

€728,100 / 59.53%€979,872 / 80.12%

€142,470 / 11.65%

€671,100 / 54.87%

€343,989 / 28.13%

€1,223,059 €1,223,059


The outlook for the retail investment market in 2016 is positive, underpinned by strong economic conditions and robust market fundamentals.

WHY INVEST IN IRISH RETIAL

WHY INVEST IN IRISH RETAILThe outlook for the retail investment market in 2016 is positive, underpinned by strong economic conditions and robust market fundamentals.

EXPANDING ECONOMY2015 marked another year of expansion for the Irish economy, retaining its position as the fastest growing economy in the EU for a second consecutive year. Strong growth is expected to continue in 2016, with the Department of Finance forecasting GDP growth of 5.0% for the year.

RISING EMPLOYMENT

A key feature of the economic recovery is the continued improvement in the Irish labour market. Employment grew by 2.9% in the year to the second quarter of 2016, bringing total employment to 2,014,900. The seasonally adjusted unemployment rate remained unchanged from Q1 2016, resting at 8.4%, down from 9.6% in Q2 2015.

The Department of Finance forecasts the rate to fall even further, reaching 7.7% in 2017.

POSITIVE RETAIL SALESThe latest retail sales data from the CSO highlights that the volume of retail sales increased 6.3% in July 2016, compared with the corresponding period in 2015. Excluding motor trade, there was an increase of 2.7% annually.

STRENGTHENING INVESTOR DEMANDThe opening half of 2016 saw retail become the most sought after asset class among investors. The share of retail investment has increased progressively to stand at €1.4bn, or 51% of total spend, in H1 2016. Shopping centre transactions have played a large role, accounting for approximately 86% of total spend in the retail sector.

RISING RENTS AND CAPITAL VALUES

According to the latest IPD/SCSI Ireland Quarterly Property Index, total return to retail property stood at 2.9% in quarter two of 2016. On an annual basis, total return to retail was 20.2% higher. Quarter two of 2016 saw income return to retail steady at 1.3%, while capital values returned 1.6% during the three month period. H1 of 2016 continued to see improvements in the regional retail sector, with strong performance in retail value growth and income return in provincial retail.

RETAIL CAPITAL VALUE GROWTH – 1994-2016

RETAIL RENTAL VALUE GROWTH – 1994-2016

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CONTACTSFor further information, including access to the data site, please contact;

164 Shelbourne Road, Ballsbridge, Dublin 4, Ireland

Kevin Donohue+353 (0) 1 639 [email protected]

Karl Stewart+353 (0) 1 639 [email protected]

Jane Dolan+353 (0) 1 639 [email protected]

PROPOSALWe have been advised to invite offers in excess of €13,810,000 (Thirteen Million Eight Hundred and Ten Thousand Euros) subject to contract. An offer at this level reflects a net initial yield of 8.48% after allowing for standard purchasers costs of 4.46%.

SURVEYSMeasured, Structural, Building and Environmental Surveys have been undertaken and are fully assignable to the purchaser. Full copies are available on the data-site.

BER CERTIFICATES

Full Building Energy Rating certificates available on request.

SERVICE CHARGEThe current annual gross service charge for the year 2016 to 2017 for Ballymount Retail Park is €99,693 per annum, which equates to €1.04 per sq ft.The service charge is apportioned according to floor areas and lease requirements.Full details are available on the data site.

VATFurther information upon request.

DATA – SITE A secure data-site with additional supporting information can be found at;www.ballymountretailcentre.com

Conditions to be noted: 1. These particulars do not constitute an offer or contract or any part thereof and none of the statements contained in the particulars as to the property are to be relied on as a statement or representation of fact. 2. The vendor does not make or give, nor is the Agent(s) or its staff authorised to make or give any representation or warranty in respect to this property. 3. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and 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 himself/herself by inspection or otherwise as to the correctness of each of them. 4. In the event of any inconsistency between these particulars and the contract of sale, the latter shall prevail.

Brochure design by


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