CARYSFORT COURT BLACKROCK, DUBLIN OFFICE INVESTMENT OPPORTUNITY FOR SALE BY PRIVATE TREATY INVESTMENT SUMMARY • An opportunity to acquire a superbly located office investment with the benefit of secure long term income. • The property benefits from exceptional profile onto Frascati Road (N31) and Carysfort Avenue. • The building extends to approximately 2,742.1 sq.m. (29,515 sq.ft.) together with 51 basement car parking spaces. • The entire property is let to Permanent TSB PLC. • Unexpired lease term of approximately 7.92 years (lease expiry 2022). • The current passing rent is €540,000 per annum which increases by increments of €10,000 per annum from 2016 to 2021 to a rent of €600,000 per annum. • For the avoidance of doubt please note this is a property investment sale and the tenant is not affected. DONABATE BLACKROACK DART STATION LOCATION The property is situated in Black- BATH PLACE SWORDS MALAHIDE BLACKROACK ROCK PARK HIL rock, arguably the best suburban office location in Dublin L approximately 8km south east of the City Centre. The property PORTMARNOCK IDRONE TERRACE benefits from exceptional profile at the junction of Frascati COOLOCK IDRONE LANE SANTRY GEORGE’S AVENUE BLANCHARDSTOWN Road (N31) and Carysfort Avenue. Carysfort Avenue is a busy FINGLAS BEAUMONT SUTTON HOWTH arterial route connecting Blackrock village with Stillorgan CLONTARF MAIN STREET DRUMCONDRA CASTLEKNOCK PORT TUNNEL village. This unrivaled suburban location is home to many of CARYSFORT AVENUE FRASCATI PARK FRASCATI ROAD Ireland’s major international occupiers such as Zurich, Ulster GEORGE’S AVENUE LUCAN CHAPELIZOD DUBLIN TEMPLE ROAD CITY CENTRE Bank, Canada Life, AIG Insurance and CIT along with various SWEETMAN’S AVENUE BALLYFERMOT BALLSBRIDGE other government entities. Blackrock village is a commercial N31 CRUMLIN RANELAGH CLONDALKIN centre, with cafes, bars, restaurants and shopping centres in- DONNYBROOK MILLTOWN WALKINSTOWN CARYSFORT AVENUE TERENURE CLONSKEAGH cluding Blackrock Shopping Centre (anchored by Superquinn) ANGLESEA AVENUE CHURCHTOWN BLACKROCK DUNDRUM DUN TEMPLEOGUE LAOGHAIRE and the Frascati Centre (anchored by Marks & SpencerTALL andAGHT RATFARNHAM STILLORGAN SWEETMAN’S AVENUE BARCLAY COURT GLENAGEARY Debenhams). Blackrock has a population of approximately SANDYFORD FOXROCK 29,461 people (2011 census). LEOPARDSTOWN CARRICKMINES STEPASIDE CHERRYWOOD TENANCY The property is let to Irish Life and Permanent PLC, t/a Permanent TSB on a 25 year Full Repairing and Insuring lease from 1st August 1997. The passing rent is €540,000 per annum which increases by increments of €10,000 per annum from 2016 to 2021 to a rent of €600,000 per annum. There are no break options and the lease expires on 31st July 2022. TENANT COVENANT Permanent TSB group holdings plc (PTSBGH) is a com- pany listed on the Enterprise Securities Market of the Dublin Stock Exchange. It is the holding company for Permanent TSB plc (PTSB) which is a Credit Institution TRANSPORT The suburb of Blackrock licenced and regulated by the Central Bank of Ireland. has the benefit of excellent transportation routes to Permanent TSB has received significant support from include the QBC and DART services. Blackrock DART the Irish State in the context of the financial crisis be- station is located approximately 400 metres to the cause of its systemic importance to the Irish Financial north west of Carysfort Court. The N11, which is the system. As a result of these State support measures, primary Dublin to Wexford route, provides vehicular the Minister for Finance of Ireland owns 99.24% of the access to both the City Centre and the M50. issued ordinary shares of PTSBGH. DESCRIPTION Carysfort Court comprises a three storey over basement third generation office building completed in 1997. This property extends to a Net Internal Area (NIA) of approximately 2,742.1 sq. m (29,515 sq. ft.) with 51 basement car spaces. Externally the building is of reinforced in-situ concrete frame and prefabricated concrete floors and block work cavity wall with an attractive red brick façade underneath a flat asphalt covered roof. The property forms part of a terrace of 3 no. properties, with the office property to the east currently occupied by An Garda Siochana and the block to the north being occupied by An Bord At- lantis – Nursing Board. The property includes a reception area with atrium in addition to the office accommodation which includes clear span column free open plan office space, cellular offices, meeting rooms and training rooms. There is a canteen at first floor level which includes a kitchen, fitted Approximate Approximate Level Description Floor Area Floor Area with stainless steel catering equipment. Vehicular access to the basement SQ M (NIA) SQ FT (NIA) car park is via Carysfort Avenue Sweetman’s Avenue via or Frascati Road. Ground Office 956.42 10,295 Pedestrian access to the property is via steps from Carysfort Avenue, at its SCHEDULE OF First Office 910.64 9,802 junction with Frascati Road. ACCOMMODATION Second Office 875.04 9,418 Total Area 2742.1 29,515 Please note the areas were agreed at rent review in 2002. All intending purchasers should satisfy themselves in Car Parking Spaces 51 relation to the accuracy of the above floor areas. TYPICAL FLOOR PLAN SPECIFICATION • High quality clear span column free open plan accommodation • Raised access floors, carpet tiles, suspended ceilings incorporating recessed light fittings • Two 6 person passenger lifts • 4 pipe fan coil air conditioning system • Clear floor to ceiling heights of approximately 2.68 metres (average) • High quality windows with strong solar and acoustic ratings • Double height reception with atrium • Concrete floors CAPITAL GAINS TAX If the property is purchased before the end of 2014 and is held for at least 7 years, the capital gain attributable to that 7 year holding period will be exempt from Capital Gains Tax (CGT). We recommend that all interested parties satisfy themselves in relation to CGT and taxation matters relating to the portfolio generally and seek tax advice from their accountant or tax advisor. BER NUMBER 800329880 TITLE Freehold VIEWINGS Viewings are strictly by appointment through Savills, the sole selling agents. SELLING AGENTS SOLICITORS Savills Ireland Steen O’Reilly 33 Molesworth Street, Trimgate Street, Dublin 2, Ireland Navan, www.savills.ie Co. Meath Paul Callanan Kevin McMahon Tony Hyland T +353 1 618 1418 T +353 1 618 1328 T +353 46 907 6300 E [email protected] E [email protected] E [email protected] CARYSFORT COURT Savills Ireland and the Vendor/Lessor 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 any of its 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 any of its 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. This brochure is issued by Savills Ireland on the understanding that any negotiations relating to the property are conducted through it. All maps produced by permission of the Ordnance Survey Ireland Licence No AU 001799 © Government of Ireland..