38-39 LEESON STREET LOWER 2

FOR SALE PRIME GEORGIAN MIXED-USE INVESTMENT OPPORTUNITY 38-39 LEESON STREET LOWER

PROPERTY OVERVIEW

MARLBOROUGH S 2

3.1 GARDINER ST LOWER

T CONNOLLY Prime Georgian Excellent Mix of office, leisure Includes two Commercial STATION 5 mixed use city centre and residential no. three bedroom WAULT of 2.76 years O'C

ONNELL STREE investment location use throughout mews properties to lease expiry T ELL S RN 3 AMIENS STREET PA 6 opportunity extending to to the rear (as at 11/10/2018) BUS STATION approx. 1,400.8 sq m LUAS LUAS

OAD Y STREET (15,080 sq ft) GIA HENR T CUSTOM R ALL R

LOWE HOUSE GUILD STREET CAPEL STREET ABBEY ST Y STREET MAR CUSTOM HOUSE QUAY

EAST W 3 ABBEY ST MIDDLE AY Arena 1 EDEN QU R I V E R L I F F E Y

GEORGE'S QUAY TA AY CITY QUA

RA STREET RA Y ABBEY ST UPPER4 BURGH QU TARA STREET WALK FEY STATION HELORS D'OLIER S SIR JOHN ROGERSON’S QU BAC AY R I V E R L I F Y N QUA SIR JOHN ROGERSON’S QU TO AS T AY

Y LOWER ORMOND QUA TOWNSEND STREET R i v e r L i f f e y R i v e r L i AY f f e y AY ON QU INN ORMOND QU WELLINGT Total passing rent of 9 surface car Freehold Title Offers sought 'Sin QUAY PEARSE STREET AY ESSEX QU MERCHANTS QUA AY Y WOOD QU €358,300 per annum parking spaces excess of €5,150,000 BENSON STREET HANOVER QU BORD GÁIS AY from 9 commercial situated to the rear reflecting a Net PEARSE STREET THEATRE T TRINITY C G R A N D DAME S AY and residential Initial Yield of 6.41% OLLEGE C A N A L tenants after the deduction DUBLIN PEARSE STREET GRAND CANAL QU of standard ESTATE STATION PEARSE STREET

CKEN STREET

acquisition costs MA

FENIAN S T of 8.46%FRANCES STREET SOUTH DOCK STREET PARK

ON STREET A GREAT LOCATION N Shelbourne Park Greyhound GRAFT SON STREET LOWER GRAND CANAL

TRICK STREET TRICK Stadium

DAW ARROW STREET PA MERRION SQUARE B Shelbourne Hotel ARE STREET KILD LOWER MOUNT S ST GRAND CANAL Grafton Street DOCK STATION Merrion Square ST STEPHENS GREEN NORTH MERRION SQUARE Luas Line T.

MERRION ST UPR St. Stephen’s Green AUNGIER STREET S

LUAS ST STEPHEN’S BAGGO T STREET GREEN T Conrad Hotel BATH AVENUE

TRIT CUFFE ST ST STEPHENS GREEN SOUTH ONVILLE R

CAMDEN ST L CE

Fitzwilliam Square OAD LWR B

ST STEPHENS GREEN EAS AGGO SHELBOURNE R HERBERT PLA WR T - S AVIVA 38 39 T. LEESON STREET LOWER STADIUM IVEA LEESON STREET LO OAD HARC ON R GARDENSGH FITZWILLIA HADDINGT OAD OURT ST SQUARE M T

WER LANSDOWNE ROAD STATION HATCH ST

CAMDEN ST UPR CE CLANBRASSIL S

TON TERRA WIL OAD PEMBROKE RO MESPIL R AD ADELAIDE RD

R ROAD CIRCULA SOUTH CHARLEMONT RD

LUAS

ARADE GRAND P SUSSEX R

OAD

CANAL RD VE RD GRO STATION

HERBER

PARK T TRANS- Bus Routes Luas Lines Train Sta- Dublin BikeTaxi Ranks LOCATION

The subject property is prominently located on Lower Leeson Street, approx. 0.2 km south of St. Stephen’s Green and approx. 150 m north of Leeson Street Bridge, on the western side of the street. Leeson Street is a primary thoroughfare linking the N11 national route with the city centre.

The area is an established Georgian location with office occupiers nearby including The Institute of Education, The Australian Embassy, The Cypriot Embassy and Dublin Institute for Advanced Studies. The central nature of this location MARLBOROUGH S 2 ensures ease of access to a range of amenities GARDINER ST LOWER including St. Stephen’s Green, Iveagh Gardens T and Fitzwilliam Square, all within a short walking CONNOLLY STATION 5 distance.

O'C

ONNELL STREE T ELL S Leeson Street is well serviced by public transport RN 3 AMIENS STREET PA 6 BUS including the Charlemont Luas stop approx. 700 m STATION LUAS away. Dublin Bus operate frequent services from LUAS

OAD Y STREET HENR T Leeson Street while Pearse Street DART station is CUSTOM R ALL R

LOWE HOUSE GUILD STREET CAPEL STREET ABBEY ST also situated nearby. Y STREET MAR CUSTOM HOUSE QUAY

EAST W 3 ABBEY ST MIDDLE AY Arena 1 EDEN QU R I V E R L I F F E Y

GEORGE'S QUAY

RA S TARA AY CITY QUA Y ABBEY ST UPPER4 BURGH QU TARA STREET WALK FEY TREET STATION HELORS D'OLIER S SIR JOHN ROGERSON’S QU BAC AY R I V E R L I F Y N QUA SIR JOHN ROGERSON’S QU TO AS T AY

Y LOWER ORMOND QUA TOWNSEND STREET R i v e r L i f f e y R i v e r L i AY f f e y AY ON QU INN ORMOND QU WELLINGT 'S QUAY PEARSE STREET

AY ESSEX QU MERCHANTS QUA AY Y WOOD QU HANOVER QU BENSON STREET BORD GÁIS AY PEARSE STREET THEATRE T TRINITY C G R A N D DAME S AY OLLEGE C A N A L

DUBLIN PEARSE STREET GRAND CANAL QU ESTATE STATION PEARSE STREET

CKEN STREET

MA

FENIAN S T FRANCES STREET SOUTH DOCK STREET PARK

ON STREET A GREAT LOCATION MERRION SQUARE N Shelbourne Park Greyhound GRAFT SON STREET LOWER GRAND CANAL S

TRICK STREET TRICK Stadium

DAW ARROW STREET PA MERRION SQUARE B ARE STREET

KILD LOWER MOUNT S T GRAND CANAL DOCK STATION ST STEPHENS GREEN NORTH MERRION SQUARE

T.

MERRION ST UPR AUNGIER STREET S

LUAS ST STEPHEN’S BAGGO T STREET GREEN T BATH AVENUE

TRIT CUFFE ST ST STEPHENS GREEN SOUTH ONVILLE R

CAMDEN ST L CE

OAD LWR B

ST STEPHENS GREEN EAS AGGO - SHELBOURNE R 38 39 HERBERT PLA WR LEESON STREET LOWER T S AVIVA T. STADIUM IVEA LEESON STREET LO OAD HARC ON R GARDENSGH FITZWILLIA HADDINGT OAD OURT ST SQUARE M T

WER LANSDOWNE ROAD STATION HATCH ST

CAMDEN ST UPR CE CLANBRASSIL S

TON TERRA WIL OAD PEMBROKE RO MESPIL R AD ADELAIDE RD

R ROAD CIRCULA SOUTH CHARLEMONT RD

LUAS

ARADE GRAND P SUSSEX R

OAD

CANAL RD SANDYMOUNT VE RD GRO STATION

HERBER

PARK T TRANS- Bus Routes Luas Lines Train Sta- Dublin BikeTaxi Ranks THE PROPERTY

38-39 LOWER LEESON Leeson Place. Primary access to the The nightclub has two separate access STREET COMPRISES TWO office and residential accommodation points situated at the front and rear. ADJOINING FOUR STOREY is via Leeson Street with a secondary The property benefits from 9 surface OVER BASEMENT GEORGIAN access to the rear via Leeson Place. car parking spaces at the rear of the BUILDINGS EXTENDING TO building. A TOTAL NET INTERNAL AREA OF APPROXIMATELY SCHEDULE OF ACCOMMODATION 1,400.8 SQ M (15,080 SQ FT). 38-39 LOWER LEESON STREET The property is arranged to provide a Floor Use Sq M (GIA) Sq Ft (GIA) Sq M (NIA) Sq Ft (NIA) nightclub at basement level with office Basement Nightclub 372.4 4,008 accommodation located on the ground, first and second floors. Internally, the Ground Offices 220.6 2,376 113.2 1,219 property is in good condition throughout First Offices 245.8 2,646 188.5 2,028 and retains a number of period features Second Offices 212 2,282 139 1,496 including sash windows, coving and Third Residential 186.1 2,003 cornicing. The office accommodation benefits from CAT 5 cabling. The top Mews floor comprises two no. 2 bedroom 38a Residential 80 861 apartments, one of which has access to a private balcony via no. 38. 38b Residential 79.3 854

TOTAL 1,400.8 15,080 440.7 4,744 There are two no. 3 bedroom three- storey mews properties situated to the Please note these areas were measured and certified by Malcolm Hollis. A copy of the full rear of the building and fronting onto report, which is assignable to the purchaser, is available in the online data room. TENANCY

The below tenancy schedule provides a summary of existing tenancies within the building.

Lease Start Passing Tenants Floor Term Lease Expiry Break Use Comments Date Rent (pa) The lease allows Patrick O'Keeffe. for fixed annual Basement Guarantor: Taurus uplifts of €5,000 of 38 and 39 Place of Public Catering Limited 24/05/2012 10 years 23/05/2022 €130,000 per annum. The Lower Lesson Entertainment and Stonehead current contracted Street Limited rent is €160,000 per annum. Ground, First & Second Urban Property Floors, 38 17/06/2016 5 years 16/06/2021 16/06/2019 €53,000 Offices Solutions Limited Lower Leeson Street Rolling break option Urban Property Carpark subject to 4 car parking 17/06/2016 5 years 16/06/2021 €12,000 Car parking Solutions Limited License two months spaces written notice Ground & First Rational Floor Return, Reproduction t/a TBC 1 year TBC €24,000 Offices 39 Lower Waterstone Clinic Leeson Street First Floor, 39 Phison Limited t/a Includes 1 car Lower Lesson 01/07/2016 3 years 30/06/2019 €25,000 Offices Fenestra Pro space Street Rooms 1,2,3 and 4 on the Marie Walshe, Eve 2nd floor and Watson & Donna room 5 on 4 years 9 Redmond t/a 01/05/2016 31/01/2021 €25,500 Offices the 2nd floor months Leeson Analytic return of 39 Centre Lower Leeson Street Apartment 2, 39 Residential Lower Leeson Third floor 18/04/2015 €21,600 Residential Tenancy Street Penthouse, 39 Residential Lower Leeson Third Floor 21/06/2013 €20,400 Residential Tenancy Street Residential Residential 38a Lesson Place 05/09/2014 €24,000 Residential Mews Tenancy Residential Residential 38b Leeson Place 11/07/2014 €22,800 Residential Mews Tenancy

Total €358,300

ZONING

The subject property is located in an area zoned Z8 - “To protect the existing architectural and civic design character, and to allow only for limited expansion consistent with the conservation objective” under the Dublin City Development Plan 2016 – 2022.” The property is a listed building on the Dublin City Council Record of Protected Structures. 38-39 LEESON STREET LOWER DUBLIN 2

FURTHER INFORMATION

PROPOSAL VAT VIEWINGS Offers sought in excess of Further information upon request. By appointment only. €5,150,000 reflecting a Net Initial Yield of 6.41% after the deduction BER of standard acquisition costs of 8.46%.

CONTACTS SOLICITORS

CLIVE ROCHE BRIAN GAFFNEY Donal M. Gahan, +353 (1) 639 9202 +353 (1) 531 1032 Ritchie & Co. [email protected] [email protected] 36 Baggot Street Lower PSRA NO: 002222-004568 PSRA No. 003754-001264 Dublin 2 D02 XE16 MARK FITZPATRICK GARETH MCKEOWN +353 (1) 639 9338 +353 (1) 531 1039 JOSEPH RITCHIE [email protected] [email protected] +353 (1) 676 7277 PSRA No. 002222-006104 PSRA No. 003754-006391

FOR SALE

Disclaimer: 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 to be relied on as a statement or representation of fact. 2. The vendor does not make or give, nor PRIME GEORGIAN MIXED-USE 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 INVESTMENT OPPORTUNITY 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. 5. The terms, Vendor and Purchaser, where the context requires shall be deemed to refer to Lessor and Lessee and Landlord and Tenant respectively. 6. Prices are quoted exclusive of VAT (unless otherwise stated) and the purchaser/lessee shall be liable for any VAT arising on the transaction. 7. The Vendor reserves the right not to accept the highest or any offer made.

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