FOR SALE BY PRIVATE TREATY

DRAFT

CINEMA & LEISURE INVESTMENT , 17

LEISURE INVESTMENT OPPORTUNITY LEISUREPLEX ODEON CINEMA

Bowling Alley, Quasar & DRAFT Children’s Play

10 Screen Odeon Cinema

CINEMA & LEISUREPLEX Investment Considerations

• Two adjoining leisure investment properties offered • The cinema extends to 3,475 sq m (37,404 sq ft) COOLOCK, DUBLIN 17 for sale as one lot and is let to UCI (Ireland) Limited at a passing rent of €937,000 per annum. • Ideally located on the busy Road, within a large residential population of 76,349 (Source • Very attractive combined WAULT of 18.84 years Census 2016) • Long leasehold title • The leisure building extends to 4,074 sq m (43,858 sq ft) over two floors and is let to • For the avoidance of doubt this is an investment Leisureplex Coolock Limited at a passing rent of sale and the tenants are not affected €675,000 per annum

2 LEISURE INVESTMENT OPPORTUNITY 3 CINEMA & LEISUREPLEX COOLOCK, DUBLIN 17

Donaghmede Shopping Centre Hilton Hotel Clarehall Shopping Centre Transport

Strategically located within close proximity to the Dublin Port Tunnel, The Cinema and Leisureplex have excellent access to principal routes including the M50 and M1 which provide expedient vehicular access to both and Dublin City Centre. The property also benefits from accessible public transport with the 27, 42 and 43 R routes providing regular service to the surrounding suburbs. 1 0 7

Dun Na Si M2 Coolock Retail Park Ardrums Swords M 5 2 Malahide A M1 L Rathrone A Kilcloon 2 H M3 DUBLIN N2 AIRPORT I D Dunboyne Enfield 1 M4 E 4 LEISUREPLEX TLC Carton Nursing Home 3 4 R 4 M50 5 DRAFTO Johnstown COOLOCK N32 Malahide Road Industrial Park Bridge A Ongar 2 D Moyglare Hall 3 2 Beaumont Sutton Maynooth Kilshanroe 6 N2 M50 Port Tunnel Clontarf Drumcondra Fanagh ODEON CINEMA M50 7 N3 N1 M4 Leixlip N2 6 5 Lucan 3 7 4a 2 N4 N4 4 DUBLIN Backweston The Greenhill R136 N4 Docklands Derrinturn Thomas Omer Way Celbridge Adamstown

Rathcoffey Adamstown N81 Staplestown Railway Station N11

1 Donnybrook 9 Straffan N7 Location Situation Milltown 10 JUNCTION 3 N81 Castledillon 2 Belgard M50 N31 The subject assets are situated at the corner of the The Interest for sale comprisesThe the Cott long leasehold interests

Churchtown D

R A

Blackwood Clane 3 1 3 Dun Greencastle and Malahide road junction in Coolock, North in the leisure and cinema buildings (for sale as one lot). The 9 Blackrock O 11

Within 7 km of N11 Laoghaire R

Ardclough R136 Dundrum

Dublin approximately 7 km north-east of Dublin City Centre.Allenwood buildings sit on a site which extends to 2.72 Ha (6.73 Ac) which N81 E N7 Northern N81 Ratfarnham D Dublin City Centre I The immediate vicinity comprises one of the largest residential accommodates over 500 car parking spaces. The site includes Cross

Citywest H M1 D

catchments in Dublin City with a population of 76,349 a third retail building, let to Power City, and a Drive Thru Burger 12 R 1 3 A

9 L A N31 A

O 13 (Source 2016 Census). More importantly this includes 30,814 RobertstownKing. These buildings do not form part of this sale. 14 M R Clonshaugh Business people between the ages of five and 34 or 40.4% of the total H M50 P R & Technology Park G I O R N11 R 1 3 9 U S W

population. A O H O D

S

N7 R 15 7 N O Kilmeage A 0

Commercial uses in the locality include Coolock Industrial O D 1

Clonagh R L

Estate and Coolock Retail Park. We are aware that Coolock Within 2 km of C Cherrywood Allen The Cinema and Leisureplex have R 1 0 4 16 Industrial Estate has been ear-marked for rezoning to Carragh Malahide Road M11 Industrial Park D M 17 residential which will further increase the residential catchment A I excellent access to the M50 L O O L B S R in the medium term. Occupiers in Coolock Retail Park include C SUBJECT PROPERTY R

K A O IL R E Ard Na Gréine

B O E A T D Naas R D R I

R K McDonalds, Woodies, Topaz, Lidl, Halfords and Right Price V O A H N A and M1 which provide excellent A Y A R R D N L

O O A D N R Tiles. Clare Hall Shopping Centre and the Hilton Hotel are also R M

A R O 5

C E A E R O A D R D G E located nearby. access to both Dublin Airport and R L E N O T O

Milltown O L Manor S M50

M P

Kilbride L R I COOLOCK I 7 N Dublin City Centre K M7 G Ballinagee 0 D 1 A Within 3 km of R L E R Dublin Airport D

Blessington 4 LEISURE INVESTMENT OPPORTUNITY Mullacash 5 Kildare M7 M7

Maddenstown M9 Ballymore Eustace Ballysax CINEMA & LEISUREPLEX COOLOCK, DUBLIN 17

Odeon The Cinema building is a part two-storey part single storey modern 10 screen cinema with the capacity to hold 2,189 people, making up 9% of the entire cinema capacity of Dublin. The building was recently refurbished and comprises two auditoriums and 8 ground floor cinema screens. The property extends to 3,475 sq m (37,405 sq ft)

Accommodation

Ground Floor (cinema) Approx. 3,473 sq m Approx. 37,391 sq ft

First Floor (office) Approx. 636 sq m Approx. 6,849 sq ft

All intending purchasers should satisfy themselves in relation to floor areas. The above measurements represent Gross Internal Area. Note that the rent review was agreed on the basis of the ground floor area only so we have not stated the first floor area anywhere else in this document DRAFT

Description

Leisure Building The property comprises a two-storey stand-alone building which extends to of 4,074 sq m (43,858 sq ft). The Leisureplex consists of a bowling alley, a quasar facility, a children’s play area, an arcade, pool/snooker room and offices.

Accommodation

Ground Floor (bowling alley and arcade) Approx. 2,036 sq m Approx. 21,934 sq ft

First Floor (quasar & children’s play area) Approx. 1,652 sq m Approx. 17,787 sq ft

First Floor (offices) Approx. 384sq m Approx. 4,136 sq ft

*All intending purchasers should satisfy themselves in relation to floor areas. The above measurements represent Gross Internal Area

6 LEISURE INVESTMENT OPPORTUNITY 7 CINEMA & LEISUREPLEX COOLOCK, DUBLIN 17 Floorplans

SCREEN 8 SCREEN 7

SCREEN 6

SCREEN 5

SCREEN 4 SCREEN 3

Store

Store SCREEN 9

Counter SCREEN 10 Store Ladies WC Stairs

Gents Foyer WC SCREEN 1 SCREEN 2 DRAFTStore ENTRANCE

Odeon Cinema - Ground Floor

Tenancy Details

PLAN TO BE SUPPLIED Odeon Cinema The entire property is let to United Cinemas International (Ireland) Limited on a 25 x 5-year full repairing and insuring (FRI) lease from the 1st August 2008. The current passing rent is €937,000 per annum

Lesiureplex The entire property is let to Leisureplex Coolock Limited on a 25 x 5-year full repairing and insuring (FRI) lease from the 1st January 2019. The current passing rent is €675,000 per annum. The first and second rent reviews will be five-yearly CPI linked with a minimum uplift of 1% and a maximum uplift of 15% over each 5-year period. Rent reviews revert to open market in 2034.

The Cinema and Leisureplex are let to United Cinemas International Leisureplex - Ground Floor (Ireland) Limited and Leisureplex Coolock Limited respectively

8 LEISURE INVESTMENT OPPORTUNITY 9 CINEMA & LEISUREPLEX COOLOCK, DUBLIN 17

Economic Overview Further Information

Ireland’s economy continues to power ahead with total output growth averaging 7.2% per annum over the past four quarters. The labour Pricing Selling Agents Solicitors market is also performing especially well. Total employment is rising by 66,700 (+3%) per annum and there are more people employed in the €22,000,000 representing a net initial yield of 6.75% Republic than ever before. Unemployment has fallen to 5.3%, leading to a more competitive labour market and four straight years of annual (after deducting standard purchaser’s costs of 8.46%) earnings growth. Greater numbers at work, coupled with increased earnings and consecutive tax cuts, have led to strong growth of over 5% in real aggregate disposable incomes in the last twelve months (see Figure 1). Adding to this, sustained growth in consumer credit balances is undoubtedly adding to consumers’ spending power. Viewings Viewings are strictly to be arranged through the sole Figure 1: Real Aggregate Household Disposable Income (4 Qtr Moving Average) selling agent, Savills. Shane Corby John Burke

8 [email protected] [email protected] +353 (0)1 618 1450 +1 7755600 6 Title 4 Long leasehold Darragh Doyle www.obhpartners.ie 2 [email protected] 0 +353 (0)1 618 1341 -2 BER rating % Change Y/Y DRAFT-4 BER rating: F – G Fergus O’Farrell -6 [email protected] -8 +353 (0)1 618 1311 2011 Q1 2017 Q1 2012 Q1 2016 Q1 2011 Q3 2013 Q1 2018 Q1 2014 Q1 2015 Q1 2010 Q1 2017 Q3 2012 Q3 2016 Q3 2013 Q3 2018 Q3 2007 Q1 2014 Q3 2015 Q3 2009 Q1 2006 Q1 2010 Q3 2008 Q1 2005 Q1 2007 Q3 2009 Q3 2006 Q3 2008 Q3 2004 Q3 Source: CSO 2005 Q3

According to the UNIC, International Union of Cinemas, Ireland has the highest rating in Europe for cinema attendance per capita (see figure 2).

Figure 2: Cinema attendance across Europe per capita

BOX OFFICE IN LOCAL CURRENCY ADMISSIONS COUNTRY (CURRENCY 2017 CHANGE IN % 2017 CHANGE IN % PER CAPITA Albania (ALL) 180.0 +7.0 0.3 +7.0 0.1 Bosnia and Herzegovina (BAM) 5.7 +21.0 1.1 +17.8 0.3 Austria (EUR) 130.2 –1.9 14.5 –3.6 1.7 Belgium (EUR) 161.0 +8.6 19.6 +0.8 1.8 Bulgaria (BGN) 50.7 +4.7 5.6 +0.8 0.8 Croatia (HRK) 134.2 +5.8 4.5 +5.7 1.1 Czech Republic (CZK) 2,004.2 –0.3 15.2 –2.5 1.4 Denmark (DKK) 1,080.8 –4.1 12.5 –8.1 2.2 Estonia (EUR) 19.4 +9.8 3.5 +6.7 2.7 Finland (EUR) 98.3 +8.8 8.9 +3.0 1.6 France (EUR) 1,380.6 –0.6 209.4 –1.8 3.3 Germany (EUR) 1,056.1 +3.2 122.3 +1.0 1.5 Greece (EUR) 65.0 +0.9 10.1 +0.7 0.9 Hungary (HUF) 20,652.4 +4.1 14.9 +2.1 1.5 Ireland (EUR) 113.8 +5.8 16.1 +2.1 3.4 Israel (ILS) 582.6 +7.0 18.2 +7.0 2.1 Italy (EUR) 584.8 –11.6 92.3 –12.4 1.5 Latvia (EUR) 12.9 +5.3 2.5 –1.6 1.3 Lithuania (EUR) 20.2 +14.0 4.0 +9.4 1.4 Luxembourg (EUR) 8.4 +3.8 1.2 +4.8 2.0 Macedonia (MKD) 82.0 +6.0 0.4 +9.0 0.2 Montenegro and Serbia (RSD) 1,463.1 +6.4 3.8 +7.3 0.5 Netherlands (EUR) 301.9 +4.9 36.0 +5.3 2.1 Norway (NOK) 1,260.9 –8.3 11.8 –10.3 2.2

10 LEISURE INVESTMENT OPPORTUNITY 11 DRAFT

PROPERTY MISREPRESENTATION ACT The Vendors/Lessors and their Agents 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, Lessees 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. Neither Savills Ireland nor Savills UK 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 neither Savills Ireland nor Savills UK 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. Prices quoted are exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchasers/ lessees shall be liable for any VAT arising on the transaction. Designed and produced by Creativeworld. Tel +44 [0] 1282 858200