DUBLIN 9 Dublin 9
4 6 Executive Summary Location 12 20 Lifestyle & Local Amenities The Asset 28 30 Specification Economic Overview 34 36 The Proposal Contacts A gateway location on the doorstep of Dublin City
2 HARTFIELD PLACE 3 EXECUTIVE SUMMARY
CBRE and Dillon Marshall Property Consultants are pleased to present Hartfield Place, an excellent opportunity to forward-purchase 475 high-quality apartments in a key North Dublin location. This gateway development will offer the rare opportunity to acquire units at a rental point targeted at a wide demographic of potential renters, a product type that is dwindling in the Dublin residential market.
HIGH-QUALITY APARTMENTS 26 179 251 19 475 studios one beds two beds three beds
HECTARE SQ. FT. 2.73 SITE 13,340 RESIDENT AMENITY will offer a park-like setting reception and concierge area, secure parcel with gathering spaces to storage, co-working space, gym, multi-purpose promote community building room, tenant lounges, rooftop deck, café and and placemaking for residents standalone crèche
CAR PARKING BICYCLE 352 SPACES 522 PARKING SPACES
KEY RESIDENTIAL LOCATION with excellent connectivity to City Centre via bicycle, bus, and car. Public transport to Dublin’s €11.4M biggest employers and leisure locations via Quality Bus Corridor (QBC), located right at the STABILISED ERV tenants’ doorstep
Planning Status: Current planning permission provides for 374 units. A new application has been submitted for 475 units with a decision expected February 2021. Additional information can be found in the data room.
4 HARTFIELD PLACE 5 TRANSPORT 1 Connolly Station 12 2 DART/Train Line 3 Dublin Airport 38 6 7 37 EMPLOYMENT CENTRES 39 5 4 Eastpoint Business Park 4 5 North Docks 6 South Docks 1 15 2 34 7 Grand Canal 11 9 23 33 8 Highfield Hospital 35 10 21 22 9 Mater Hospital 20 10 St. Vincent’s Hospital 19 28 LEISURE 13 32 11 Croke Park 0040 42 12 Aviva 14 36 27 17 13 Clontarf Golf Club 26 14 St. Vincent’s GAA 25 15 Clontarf Promenade 24 16 Whitehall GAA Club 31 17 FLYEfit Drumcondra 41 18 Home Farm Football Club LOCAL AMENITIES 19 Banks Pharmacy 29 20 C&T Superstore 21 Larry’s Market Fair 8 22 Marino Medical Centre 23 Spar 18 FOOD/DRINK 24 Restaurant 104 25 The Ivy House 26 Casa del Toro 27 San Sab Thai 28 Fagan’s Bar and Restaurant 16 29 McGettigan’s D9 30 Golden Palace 30 31 Brass Onion Bistro 32 Scrumptious Café 33 Bombay Pantry PARKS 34 Fairview Park 35 Marino Park 36 Clonturk Park Green 37 St. Stephen’s Green 38 Iveagh Gardens EDUCATION 39 Trinity College Dublin 40 DCU 41 Dominican College 3 42 Marino College
6 HARTFIELD PLACE 7 M3 PARKWAY M2
MALAHIDE SWORDS
M3 MALAHIDE
Malahide DUBLIN Golf Club AIRPORT KINSEALY
M1 N2 PORTMARNOCK PORTMARNOCK
DART CONNECTIVITY
M50 Hartfield Place is located in an ideal Father Collins commuter location on Swords Road, the Park main north-south arterial in the north part IRELAND’S M50 EYE of the city with direct access to the centre.
SANTRY DONAGHMEDE Access to the M50 is just 2km north of HOWTH the site, providing connection to the N3 entire motorway network, and the city Ellenfield centre is just 4km to the south, providing Park an easy commute to major employment GLASNEVIN and entertainment hubs. ASHTOWN Howth MAYNOOTH WHITEHALL RAHENY From the doorstep of Hartfield Place, National Botanic travel times into the city centre by bus are COOLMINE Gardens Griffith less than 30 minutes, with the Quality Bus BROOMBRIDGE DUBLIN Saint Corridor (QBC) offering routes serving Park PORT TUNNEL CASTLEKNOCK FAIRVIEW Annes Park Dublin Airport, Dublin City and nearby CABRA neighbourhoods running every 10 minutes. DRUMCONDRA
CLONTARF CLONTARF Fairview ROAD Bull Island Hartfield Place will also benefit from the Park proposed Collins Avenue MetroLink N4 Phoenix Park station due for completion in 2027. Once complete, it will connect Swords
CONNOLLY EAST to Charlemont Street, linking Dublin WALL M50 Airport, Irish Rail, DART, Dublin Bus and CITY DOCKLANDS CENTRE Luas services. HEUSTON DUBLIN THE POINT BAY M50 BALLYFERMOT R I V E R L I F F E Y Within a short walk or cycle, tenants will find an ample selection of shopping, St. Stephen’s dining, socialising, educational and Green recreational amenities.
BALLSBRIDGE
DART
RATHMINES CLONDALKIN
7 9 9 10 13 20 25 4 4 8 11 14 14 15 mins mins mins mins mins mins mins mins mins mins mins mins mins mins
Drive TERENUREBeaumont Dublin East Point Omni Shopping Dublin Docklands St. Stephen’s Bike Drumcondra Dublin City Croke Clontarf Road East Point Connolly Dublin N7 Times Hospital Airport Business Park Centre City Green Times University Park DART Station Business Park Station City
TYMON DUNDRUM DÚN PARK SALTHILL & LAOGHAIRE MONKSTOWN 15 16 18 21 22 31 32 7 13 18 19 23 24 32 mins mins mins mins mins mins mins mins mins mins mins mins mins mins
DUNDRUM Bus Croke Dublin Dublin Connolly Clontarf Road East Point Docklands Walking Ellenfield Dublin City St. Patrick’s Drumcondra Beaumont Griffith Croke TALLAGHT Times Park City Airport Station DART Station N11Business Park Time Park University College Hospital Park Park
SAGGART 8 HARTFIELD PLACE 9
MARLAY PARK
CARRICKMINES A vibrant location where community and recreational opportunities abound
Griffith Park 10 HARTFIELD PLACE 11 LIFESTYLE & LOCAL
AMENITIES
Hartfield Place resides in the close- in North Dublin suburb of Whitehall. Located between the neighbourhoods Drumcondra and Santry, it offers excellent locational and community characteristics appealing to a wide potential tenant base.
There are a host of local amenities in the area including numerous educational institutions, retail and grocery outlets, restaurants and bars, parks, and recreational offerings. Omni Shopping Centre is just 1.4 km to the north and Drumcondra Village is equidistant to the south.
Major employment hubs including East Point Business Park, the Docklands, IFSC and St. Stephen’s Green are all within a 30-minute commute by bus, car or bike. Employment hubs to the north such as Dublin Airport, Airways Industrial Estate, and Clonshaugh Business and Technology Park are all within 20 minutes.
Dublin City University National Botanic Gardens
12 HARTFIELD PLACE 13 Glasnevin Educate Together Glasnevin Village Tempo Music School
Omni Shopping Centre Ellenfield Park
Clontarf Golf Club
Parks, golf clubs, beaches and much more are within walking or cycling distance of Hartfield Place.
Drumcondra Dart Station Dollymount Strand Fairview Park
14 HARTFIELD PLACE 15 The Space Rooftop Terrace CGI
The Bernard Shaw Nelly’s Café Corrigans Butchers
Restaurant 104
Rooftop Terrace CGI Eatyard Drumcondra Smallchanges
The Drumcondra neighbourhood, offering all varieties of dining, coffee, pub and shopping options, is just a short walk or cycle away.
16 HARTFIELD PLACE 17 MALAHIDE SWORDS
M3
MALAHIDE
Malahide Golf Club
KINSEALY DUBLIN M1 LOCAL N2 AIRPORT PORTMARNOCK PORTMARNOCK 4 POINTS OF INTEREST DART
EMPLOYMENT CENTRES 1 Eastpoint Business Park M50 2 North Docks 27 Father Collins 5 25 Santry 6 Park 3 South Docks BLANCHARDSTOWN Park 4 Dublin Airport 28 IRELAND’S M50 5 Clonshaugh Business ParkEYE 6 Airways Industrial Estate
SANTRY 7 Beaumont Hospital 26 DONAGHMEDE 8 Highfield Hospital 23 9 Mater Private HospitalHOWTH N3 LEISURE 21 Ellenfield 7 10 Croke Park Park 11 Clontarf Golf Club Albert 20 WHITEHALL 29 12 St. Vincent’s GAA GLASNEVIN College Park 33 ASHTOWN 13 National Botanic Gardens Howth 24 32 RAHENY 14 Clontarf Promenade 19 FOOD/DRINK 8 15 Fagan’s Bar and Restaurant National Botanic COOLMINE 22 16 Restaurant 104 Gardens 18 16 17 San Sab Thai 13 Griffith 12 17 18 Brass Onion Bistro Park FAIRVIEW 11 BROOMBRIDGE 35 30 Saint 19 Golden Palace CABRA DUBLIN Clontarf 20 Beaumont House 15 Annes Park PORT TUNNEL Golf Club 21 The Comet Wood Stone Pizza DRUMCONDRA CLONTARF 31 CLONTARF Bull Island 22 McGettigan’s D9 ROAD 10 Fairview SHOPPING /RETAIL CENTRES Park 23 Omni Shopping Centre 9 14 24 Artane Castle Shopping Centre N4 Phoenix Park 1 25 Gulliver’s Retail Park 34 26 Northside Shopping Centre EAST M50 WALL 27 IKEA CONNOLLY PARKS CITY CONNOLLY DOCKLANDS CENTRE 28 Santry Park DUBLIN HEUSTON 2 29 Ellenfield Park THE POINT BAY M50 30 Saint Anne’s Park 36 3 R I V E R L I F F E Y 31 Fairview Park KILMAINHAM 32 Albert College Park St. Stephen’s EDUCATION Green 33 Dublin City University
DART 34 TU Dublin 35 St. Patrick’s College 36 Trinity College Dublin
BALLSBRIDGE
18 HARTFIELD PLACE 19
RATHMINES CLONDALKIN
TERENURE N7
TYMON DUNDRUM DÚN PARK SALTHILL & LAOGHAIRE MONKSTOWN THE ASSET
Hartfield Place will include 475 high-quality apartment units The 2.73 hectare site will offer a beautifully landscaped across 7 residential blocks ranging in height from 6 to 8 stories. green space with a sport court, gardens, BBQ area An underground car park will provide 284 parking spaces with and playground. an additional 68 surface parking spaces. Hartfield Place will be delivered on a phased basis with The unit mix will comprise 26 studio apartments, 179 one target dates for practical completion over a 13 month bed apartments, 251 two bed apartments and 19 three bed period, delivering a new block approximately every apartments. Tenants will avail of the ample amenity offering of two to three months allowing for steady absorption of 6,671 square-feet of private teant amenity, including a reception units. Upon completion, Hartfield will yield an estimated and concierge area, secure parcel storage room, co-working stabilized Gross Income of €11.4 million per annum. space, gym, multi-purpose room, tenant lounge, rooftop deck and sun lounge. The 1,051 square-foot café and 5,617 square- foot crèche will provide both public and private amenity.
20 HARTFIELD PLACE 21 SCHEDULE OF ACCOMMODATION SITE PLAN
Market Rate Units
Unit Type No. Units % Units Size Range Sq. ft. Average Size Sq. ft. ERV Per Month Range Average ERV Per Month ENTRY
Studio 26 6% 398 – 398 398 €1,350 – €1,475 €1,408 Block A Crèche One Bed 157 37% 506 – 640 555 €1,750 – €2,000 €1,846
CARPARK ACCESS Two Beds 220 52% 840 – 983 888 €1,950 – €2,450 €2,183 Block F Three Beds 18 6% 1,129 – 1,331 1,229 €2,650 – €3,100 €2,889
Total 421 100% 398 – 1,331 749 €1,350 – €3,100 €2,039 Block B Part V Units (Block C) Block D Unit Type No. Units % Units Size Range Sq. ft. Average Size Sq. ft. ERV Per Month Range Average ERV Per Month
One Bed 22 41% 554 – 603 568 €1,488 – €1,658 €1,549
Two Beds 31 57% 854 – 958 906 €1,658 – €1,998 €1,806
Three Beds 1 2% 1,129 – 1,129 1,229 €2,465 – €2,465 €2,465
SWORDS ROAD SWORDS Block Total 54 100% 554 – 1,129 772 €1,488 – €2,465 €1,713 Block G E
Commercial & Amenity
Block Amenity Type Size Sq. ft. Block Floor Potential Use C
Commercial 1,051 A Ground Café or other commercial use fronting Swords Road
Concierge, management office, secure parcel storage, restrooms, Tenant Amenity 2,725 A Ground theatre room, co-working spaces and lounge
Tenant Amenity 2,379 A Basement Dedicated exercise space with changing rooms and restroom
Indoor sun lounge and restroom, with large outdoor garden terrace Tenant Amenity 465 A Sixth overlooking central courtyard Delivery Schedule Tenant Amenity 1,102 F Ground Flexible tenant amenity that can be reserved for private events Feb 2022 May 2022 July 2022 Sep 2022 Sep 2022 Nov 2022 Jan 2023 Mar 2023
Crèche 5,617 Self-contained Two Stories Free-standing two-story crèche located between Blocks A and F Target PC Date Block Block Block Block Block Block Block Crèche Total 13,340 F A B D G E C Units Delivered
76 61 78 76 72 58 54
22 HARTFIELD PLACE 23 TYPICAL UNIT FLOOR PLANS
BEDROOM BEDROOM
EN-SUITE LIVING/KITCHEN/DINNING
BATHROOM
STORE
BATHROOM
BEDROOM 2 Bed Apartment STORE BEDROOM 840 – 983 sq. ft.
LIVING/KITCHEN/DINNING LIVING/KITCHEN/DINNING
STORE
BATHROOM
BEDROOM BEDROOM BEDROOM
EN-SUITE EN-SUITE Studio 1 Bed Apartment LIVING/KITCHEN/DINNING 398 sq. ft. 506 – 640 sq. ft. STORE
STORE BATHROOM STORE
3 Bed Apartment 1,129 – 1,331 sq. ft.
24 HARTFIELD PLACE 25 BEST IN
CLASS RECEPTION
AMENITY The first floor of Block A
AMENITY AMENITY will offer approximately ROOM ROOM 351 sq. m. of amenity space OFFERING to include a commercial café COMMERCIAL COFFEE space, concierge and back The design and placement of the amenity spaces STORE WC WC A.WC will allow for a natural flow of foot traffic through office, secure parcel storage, the scheme from the concierge in Block A to the AMENITY ROOM co-working spaces, tenant central courtyard and through to Block F and the lounge and restrooms. rest of the scheme.
All main amenity components will be accessible AMENITY ROOM via the main core in Block A providing a space where tenants gather and interact, creating a sense of community.
FEMALE CHANGE A dedicated resident The sixth floor of Block A gym will be located A.WC will provide for 123 sq. m. on the basement floor of tenant amenity with an of Block A and will indoor “sun lounge” at provide for 221 sq. m. 43.2 sq. m. and an outdoor SUN LOUNGE of exercise space. GARDEN TERRACE communal deck of 79.7 sq. m. Both are accessed via the main core in Block A. COMMUNAL GYM
MALE CHANGE
26 HARTFIELD PLACE 27 SPECIFICATION
Kitchen & Dining Room Paint Finishes ο Ventilation: a heat recovery ventilation system will be provided in each unit ο Contemporary kitchen design with ο Walls: Dulux Ash White or similar ο Lighting: ceiling pedants with energy slab doors and drawers ο Ceilings: Dulux Brilliant White or similar efficient LED fittings will be provided ο Solid quartz worktops with stainless ο Woodwork: Dulux Trade Satin White throughout with energy saving compact steel recessed sinks or similar fluorescent lamp located in bathrooms ο Chrome mixer tap Doors Wiring ο A-rated energy efficient appliances ο Apartment entrance doors will be including electric hob, oven and ο Wired for TV in living rooms and standard height solid core pre- extractor fan, fridge/freezer, bedrooms. Wired for telephone/data in finished doors with veneer to corridor, microwave and dishwasher living rooms, all bedrooms and hallway. painted internally Bathrooms & En-Suites ο Switch plates will be satin finish chrome ο Internal doors will be standard height solid throughout kitchen/living/dining area with ο Bathrooms to be fitted with sleek core pre-finished doors, Shaker style integrated USB fittings contemporary sanitary ware and high- Floors ο White plastic sockets and switches to quality taps ο Entrance halls, en-suites and bathrooms recognised standards fitted throughout ο Toilets will be back to wall with soft close will be floored with selected porcelain tiles remaining areas in apartment seat and concealed cistern with chrome ο TV Satellite: all units will be pre-wired for a action plate ο Floors in living areas, bedrooms and utility room will be engineered “Quick Step choice of service providers. The antenna/ ο Wall-hung basin with single-lever basin Click” in selected wood finish dish will be centralised and managed by mixer tap and mirrored vanity unit management company. Arrangement of ο Kitchen floors will be engineered “Quick ο Main bathrooms will be fitted with a connections to the preferred service will Step Click” in selected wood finish modern bath, thermostatic bath/shower be chosen by tenant/occupier mixer, stainless steel wall mounted Balconies & Juliet Balconies External Common Areas showerhead and bath screen ο Cantilevered and recessed balconies ο Paving: high quality and durable ο En-suites will be fitted with glass shower will be finished with maintenance-free landscape material throughout the site enclosure with a bright silver surround composite decking system with powder- finish, resin low profile shower tray with coated aluminium soffit board on a ο Planting: fully manicured and landscaped upstands, wall mounted thermostatic proprietary hangar system to a high quality throughout with seeded lawns, ground cover shrubs, feature semi- shower mixer with shower rail and ο Balustrades to cantilevered and recessed mature trees and evergreen hedging riser attachment balconies will be typically clear structural ο Chrome-finished electric towel radiators glass with stainless steel handrails ο Street furniture: seating will consist of slatted hardwood placed over site walls or ο Full height tiling to walls surrounding ο Balustrades to Juliet balconies will onto stainless steel framing. Cycle stands showers with half-height behind be powder coated metal railings will be stainless steel Sheffield stands wash basin or clear structural glass with a stainless-steel handrail ο Playground areas: outdoor playground Wardrobes will be provided with play elements made ο Bedrooms feature contemporary Mechanical & Engineering of durable materials with some of the 2.2-metre-high wardrobes fitted to ceiling ο Heating: one heating zone per apartment equipment made up of natural materials. with shadow doors on soft close hinges with thermostat to living/kitchen area Impact absorbing surfaces will be installed ο Carcass to be constructed internally and Thermostatic Radiator Valves (TRV) under and around all equipment in 18 mm melamine in selected finish installed in bedrooms ο Chrome finished internal hanging ο Water: potable water will be supplied rail including fixing brackets fitted directly to the apartments via booster inside wardrobes pump from the basement to provide fully pressurized hot and cold water throughout
28 HARTFIELD PLACE 29 ECONOMIC OVERVIEW
Why Invest
IRELAND IS HOME TO SOME OF THE MOST INFLUENTIAL MULTINATIONAL CORPORATIONS of residents within of residents are 25-44 OF THE ALL OF THE OF THE OF THE TOP 10 THE TOP TOP TOP 10 TOP 15 5km of Hartfield Place year olds, a key renter 9 10 5 8 14 are international age profile US Technology Pharmaceutical Global Software Financial Service Medical Technology Companies Companies Companies Companies Companies
Local Demographic IRISH ECONOMY SUPPLY AND DEMAND Within 5km Ireland is consistently ranked Supply is not meeting the There are approximately 19,500 of local residents are Radius of local households live in among the top countries in the demand for residential BTR units in the pipeline for Dublin highly qualified having apartment blocks. world for labour productivity accommodation in Dublin that are either planning applied, completed a postgraduate The average number of granted or under construction degree or higher people per household is 2 qualification Ireland’s population is currently at 4.93m. 21% of the population lives within Dublin 34,000 residential units will Due to construction restrictions need to be built each year brought in since Covid-19, it is for the next decade in order estimated that the total number of Population is projected to grow to meet demand. In 2019 only completions for 2020 will be in the by 1 million by 2040 21,241 units were completed region of 12,000 to 15,000 units of local residents work within the professional services industry while, work within RENTAL MARKET Commerce & Trade
Institutional landlords have Occupancy remained high Demand for rental residential reported rent collection rates in during the Covid-19 outbreak units has remained consist- excess of 97%, down slightly on with Dublin occupancy rates at ently strong since the start of pre-Covid collection rates of 99% 99.31% in June 2020 the year
30 HARTFIELD PLACE Source: Census 2016 31 RECENT INVESTMENT COMPARABLES
Cualanor Mount Argus
Location: South Dublin Location: Dublin City Vendor: Cosgrave Vendor: Marlet Purchaser: DWS Purchaser: Patrizia Price: €200m Price: €93m NIY: 3.75% NIY: 3.80% No. of Units: 368 No. of Units: 179 Price Per Unit: €543,478 Price Per Unit: €519,553 Price Per Sq. ft.: €567 Price Per Sq. ft.: €562 Date: Q3 2020 Date: Q3 2019 Structure: Forward Sale Structure: Forward Sale
Davitt Road Project Prestige
Location: Dublin City Location: North Suburbs Vendor: Durkan Limited Vendor: MKN Group Purchaser: Avestus Purchaser: DWS Price: €127m Price: €145m NIY: 3.80% NIY: 3.99% No. of Units: 265 No. of Units: 317 Price Per Unit: €479,245 Price Per Unit: €493,690 Price Per Sq. ft.: €690 Price Per Sq. ft.: €567 Date: Q1 2020 Date: Q2 2020 Structure: Forward Sale Structure: Standing Stock / Forward Sale
32 HARTFIELD PLACE 33 Method of Sale Viewings Further information Title BER Information THE For sale by private treaty. Viewings are to be arranged Further information is available at The property is being sold Based on preliminary reports provided through the sole selling agents. www.hartfieldplace.ie subject to and with the benefit of by BERcerts.ie, it is anticipated that the freehold title. apartments will carry a BER rating of A2 PROPOSAL or higher upon completion.
34 HARTFIELD PLACE 35 CONTACTS
Joint Selling Agents Solicitors
Dessie Kilkenny Aileen Cosgrove Executive Director Consultant Investment Properties Ireland T: +353 1 212 0400 T: +353 1 618 5500 E: [email protected] M: +353 86 335 6820 E: [email protected]
Kyle Rothwell Executive Director Developer Head of Investment Properties T: +353 1 618 5502 M: +353 87 228 1713 E: [email protected]
Emma Courtney Associate Director Development Manager Residential Capital Markets T: +353 1 618 5760 M: +353 87 207 0318 E: [email protected]
Funder
Damien Dillon Director T: +353 1 496 7574 M: +353 87 737 0920 E: [email protected]
Disclaimer: CBRE U.C [CBRE IRELAND] & Dillon Marshall Property Consultants These particulars are issued by CBRE U.C., registered in Ireland, no. 316570. PSRA License No. 001528 and Dillon Marshall Property Consultants on the understanding that any negotiations relating to the property are conducted through them. While every care has been taken in preparing them, CBRE U.C.& Dillon Marshall Property Consultants, for themselves and for the vendor/lessor whose agents they are, give notice that: - (i) The particulars are set out as a general outline for guiding potential purchasers/ tenants and do not constitute any part of an offer or contract. (ii) Any representation including descriptions, dimensions, references to condition, permissions or licenses for uses or occupation, access and any 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 themselves (at their own expense) as to their correctness. (iii) Neither CBRE U.C., Dillon Marshall Property Consultants nor any of their employees have any authority to make any or give any representation or warranty in relation to the property. Brochure prepared August 2020. CBRE U.C Registered Office Connaught House, Number One Burlington Road, Dublin 4. PSRA Licence No: 001528.
36 HARTFIELD PLACE 37 hartfieldplace.ie