Superb Mixed Use Investment Opportunity

Castle Street, Dalkey, Co. Dublin

For Sale by Private Treaty – Tenants not affected Investment Summary

This attractive collection offers investors Lot 1: 16/16A Castle Street the opportunity to acquire two separate investment properties in the heart of Dalkey. The properties provide a secure income with excellent potential for rental growth. Lot 2: 17/18 Castle Street

Producing a reliable rental income

Exclusive mixed use investment profile extending to approximately 495.11 Sq m (5,329 sq ft)

Located in the heart of Dalkey Village on Castle Street, surrounded by a wealth of amenities

Total annual rental income of €98,886 per annum

Two separate properties including: 1. A takeaway & apartment, 2. Two retail units & multi-tenanted offices

Tenants include P. Borza Takeaway, Hick’s of Dalkey Butchers and Fujifilm

Opportunity to increase rentroll through asset management

Outstanding rent review. Location

The two properties are located at the entrance to Dalkey village close to Dalkey Castle. Dalkey is a much sought after affluent coastal village in South County Dublin approximately 15.5 km from Dublin City Centre. Boasting a beautiful coastline and numerous amenities, Dalkey is a popular location with both residents and commercial businesses Dalkey Castle & Heritage alike. Centre on Castle Street Due to its history and location, Dalkey attracts a large number of tourists and visitors annually. Some key attractions include Dalkey Castle, Bulloch Harbour, Dalkey Island, View of Castle Street Dalkey Quarry and Killiney Hill Park. Visitors can participate in numerous activities including historical walking tours, rock climbing, abseiling, paragliding and hiking.

The village itself is home to numerous popular bars, restaurants and boutique shops. Some current tenants include Supervalu, O’Brien’s Off Licence, Ouzo’s Restaurant, The Kings Inn and The Queens Bar and Steak Room.

Dalkey is connected to Dublin City Centre by the N11 Dublin to Wexford road and the N31 coastal road. The area also avails of the DART commuter rail and Dublin bus service.

Castle Street, Dalkey, Co. Dublin Investment Opportunity KnightFrank.ie Lot 1 16/16A Castle Street, Dalkey

Description The property is a standalone two storey building of masonry The ground floor takeaway unit measures approximately construction incorporating a ground floor retail unit current- 141.82 sq m (1,527 sq ft) gross internal area, while the first ly trading as a fast food takeaway and a self-contained first floor apartment measures approximately 77.64 sq m (836 floor two bedroom apartment. The main two storey structure sq ft) gross internal area. The below table outlines the area of the building appears to be a rendered stone wall finish. breakdown: Cleggs Shoe Repairs occupy an adjoining ground floor unit within the building however this unit is in separate ownership Floor Use GIA sq m GIA sq ft approx. approx. and is not part of the portfolio. The ground floor takeaway unit comprises; a takeaway shop/ Ground Takeaway Shop 141.82 1,527 sit-down area, kitchen/food preparation area, office, wash- First Apartment 77.64 836 rooms and storage area. The takeaway unit is finished to a high standard with internal specification comprising of tiled Ground Access to Apartment 4.43 48 walls and flooring, plastered and painted ceilings and stain- Total 223.89 2,410 less steel kitchen equipment with recessed and spot lighting. The office comprises of laminate flooring, plastered and painted walls and recessed lighting. Tenancy The first floor residential apartment consists of a self-con- The entire is let to P. Borza Restaurants Limited trading as tained two bedroom apartment (one double, one single), an P. Borza at a rent of €35,000 per annum, abated to €31,500 open plan kitchen/dining area and a family bathroom. The per annum on a 35 year Full Repairing and Insuring Lease apartment is finished to a good standard featuring a com- commencing 1st July 2011. The Lease incorporates 5 yearly bination of laminate and carpeted flooring, plastered and upward or downward rent reviews (outstanding June 2016) painted walls and ceilings, tiled walls, exposed timber beams and tenant break options at the expiration of the 5th and and exposed lighting. 10th years of term subject to giving six months’ notice in writing of their intention to do so.

Castle Street, Dalkey, Co. Dublin Investment Opportunity KnightFrank.ie Lot 2 17/18 Castle Street, Dalkey

Floor Use GIA sq m GIA sq ft approx. approx.

Unit 17 Ground Retail 37.73 406

Unit 18 Ground Retail 83.56 899

Ground Office 18.64 201

First Office 131.27 1,413

Total 271.22 2,919

Tenancy The property is sub-divided into multiple commercial units, with two retail units and one office unit located at ground floor level and six individual office units located at first floor level. Terms have recently been agreed with the ground floor retail tenants for new Internal Repairing and Insuring Leases. These Leases are currently held by the Landlord’s solicitor in draft format and are available upon request.

Tenancy schedule is summarised in table below: Above: Interior of Unit 17 and Unit 18

Unit Floor Use Tenant Rent p.a. Term Notes

Unit 17A Ground Retail Fujifilm €19,200 New 10 year IRI lease at Over holding €20,000 per annum with a deed of renunciation agreed. Documents to be executed prior to sale completion. Unit 18 Ground Retail Hick’s of Dalkey €28,000 New 20 year IRI lease at Over holding €31,000 per annum with a deed of renunciation agreed. Description Documents to be executed 17/18 Castle Street, Dalkey is an end of terrace two storey The ground floor office unit benefits from laminate flooring, prior to sale completion. building of masonry construction. The main structure of the painted walls/ceilings with exposed lighting. Unit 1 First Floor Office Vacant – n/a n/a building appears to be a rendered stone wall construction The first floor is currently laid out in multiple individual own with a painted finish. door offices. Internal specification includes a combination of Unit 2 First Floor Office Silchester Marketing Ltd. €3,078 Licence Over holding The ground floor comprises two self-contained high street laminate and carpeted flooring, plastered and painted walls, Unit 3 First Floor Office Anthony Rosenshine & Co. €4,759 Licence Over holding retail units and one office unit located at the entrance to the washrooms and exposed lighting. upper floor. The first floor benefits from office use and is- cur The building measures approximately 271.2 sq m (2,919 sq Unit 4 First Floor Office Commercial Forestry €3,935 Licence Over holding rently laid out in multiple individual own door offices. ft) gross internal area. The table on the next page outlines Services Ltd. The ground floor unit, known as Unit 17A, comprises a retail the area breakdown. Unit 5 First Floor Office Vacant – n/a n/a unit trading as Fujifilm. Internal specification includes; tiled flooring, plastered and painted walls and recessed lighting. Unit 6 First Floor Office McDonald Group. €3,278 Licence Over holding The adjacent ground floor retail unit, Unit 18 trades as a butchers shop, Hick’s of Dalkey. The unit comprises a shop/ Unit 7 Ground Office Delig Inish €3,888 Licence Over holding sales area, preparation area, storage/staff area and washrooms. Internal specification includes; tiled walls and floor- Landing First Floor Office Dalkey Business Centre €1,248 Licence Over holding ing, exposed lighting and stainless steel kitchen equipment. Total €67,386

Castle Street, Dalkey, Co. Dublin Investment Opportunity KnightFrank.ie Price: On application

Viewing: By appointment only

BER Certification: Available on request

FOR ENQUIRIES ADRIAN TRUEICK CONTACT [email protected]

SHAUN COLLINS [email protected]

20-21 Upper Pembroke Street Dublin 2

Tel: +353 1 634 2466 KnightFrank.ie

Conditions to be noted: These particulars are issued by HT Meagher O’Reilly trading as Knight Frank on the understanding that all the negotiations are conducted through them. Whilst every care has been taken in the preparation of these particulars, they do not constitute an offer or contract. All descriptions, dimensions, references to condition, permissions or licenses of use or occupation, access and other details are for guidance only, they are given in good faith and believed to be correct, and any intending purchaser/tenant should not rely on them as statements or representation of fact but should satisfy themselves (at their own expense) as to the correctness of the information given. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchaser/lessee shall be liable for any VAT arising on the transaction. Neither HT Meagher O’Reilly trading as Knight Frank or any of their employees have any authority to make or give any representation or warranty in respect of this property.

HT Meagher O’Reilly trading as Knight Frank, Registered in Ireland No 385044, PSR Reg No 001266. HT Meagher O’Reilly New Homes Limited trading as Knight Frank, Registered in Ireland No. 428289, PSR Reg No 001880. Registered Office – 20 -21 Upper Pembroke Street, Dublin 2.