FOR SALE BY PRIVATE TREATY (TENANT NOT AFFECTED) INVESTMENT OPPORTUNITY NEWENHAM COURT AT NORTHERN CROSS MALAHIDE ROAD, DUBLIN 17 CONTENTS Investment Summary 01 Accommodation Schedule 06 Occupier Market 11 Location Map 02 Specification 07 BER 12 Location 03 Zoning 07 Title 12 Transport 03 Floor Plans 08 Proposal 12 Aerial 04 Tenancy Schedule 08 Data Room 12 Description 06 Covenant Information 10 Contacts 14 2 || NEWENHAM COURT AT NORTHERN CROSS INVESTMENT SUMMARY Opportunity to acquire a high yielding suburban office investment and development site (subject to fpp). ¡ Modern five storey over basement office building extending to approx. 4,511.20 sq m (48,558 sq ft) ¡ Fully let to Mylan Ireland Limited with full parent company guarantee from Mylan Inc. who are listed on the NASDAQ ¡ Development site (subject to fpp) extending to approx. 0.73 hectares (1.795 acres) ¡ Current passing rent €976,690 per annum subject to a deed of variation. Further information available upon request ¡ For sale by Private Treaty ¡ Tenant not affected ¡ Offers sought in excess of €9,150,000 which equates to Net Initial Yield of 9.84% assuming standard purchasers costs of 8.46% NEWENHAM COURT || 1 LOCATION MAP SWORDS MALAHIDE M1 R1O7 N2 DUNBOYNE M3 DUBLIN KINSEALY AIRPORT PORTMARNOCK NEWENHAM COURT AT NORTHERN CROSS M50 SANTRY R139 M50 BALDOYLE M3 M50 BEAUMONT ARTANE RAHENY R1O7 BLANCHARDSTOWN TRAIN LINE POR N1 T TUNNEL DRUMCONDRA CLONTARF N4 PHOENIX LUCAN PARK DUBLIN PORT M50 DUBLIN CITY CENTRE DUBLIN BAY LUAS RED LINE BALLSBRIDGE CLONDALKIN CRUMLIN N LINE M50 N7 LUAS GREE RATHFARNHAM N11 BLACKROCK 2 || TALLAGHT DUN LAOGHAIRE DUNDRUM N7 N81 SANDYFORD MARLEY IND. ESTATE PARK M50 N11 GLENAGEARY N81 M50 NEWENHAM COURT AT NORTHERN CROSS LOCATION Newenham Court is located in Northern Cross Business Park which forms part of the Northern Cross mixed use commercial and residential development. The development is situated on the Malahide Road approximately 10km northeast of Dublin City Centre and adjacent to the 4 star Hilton Dublin Airport Hotel. The Hotel offers business and conference centre facilities along with a gym and a restaurant. Clare Hall Shopping Centre anchored by Tesco Extra is located on the Malahide Road 750m from Newenham Court. The vibrant coastal villages of Howth and Malahide are within a 15 minute drive. As a result of substantial development in recent years, the area is considered a strong suburban office location in north Dublin. ACCESSIBLE 4 min drive to M50 3km to Clongriffin and Howth Junction Dart Stations 10km to Dublin City Centre 7.5km to Dublin Airport TRANSPORT Northern Cross is situated adjacent to the junction of the Malahide Road and the R139, which provides access to the M1/M50 motorway interchange, approximately 3 km west of Northern Cross. Dublin city centre is easily accessible via the Dublin Port Tunnel which is located 6 km from the development and Dublin Airport is 7.5 km northwest of Northern Cross. Northern Cross has good access to public transport links, with the Malahide Road Quality Bus Corridor linking the area with the city centre, DCU and Swords. Nearby bus routes include no 15, 27, 27X, 42 and 43. Both Clongriffin and Howth Junction DART stations are located 3.2 km and 3 km away respectively with free parking available for commuters at Clongriffin. Northern Cross Business Park also provides a shuttle bus service to and from the DART daily. NEWENHAM COURT || 3 AERIAL Clongriffin Train/Dart Station Bank of Ireland Meadows & Byrne/ Eurospar t To MALAHIDE Carechoice Nursing Home Car Park Walls Construction DUBLIN AIRPORT x 4 || NEWENHAM COURT AT NORTHERN CROSS Howth Baldoyle Industrial Estate Howth Junction Train/Dart Station Clare Hall Retail Centre Clare Hall Shopping Centre Hilton Dublin Airport Hotel NEWENHAM COURT AT NORTHERN CROSS Experian/ MALAHIDE ROAD Cerner/ Aramark To CITY CENTRE u The Logiskills Group/ Xsimbus Resources N32 Bewleys Coffee Ltd TO CITY CENTRE M1/M50 JUNCTION PORT TUNNEL DUBLIN AIRPORT q For illustration purposes only NEWENHAM COURT || 5 DESCRIPTION NEWENHAM COURT The property comprises a five storey over basement modern office building with L shaped floor plates. The location of the main core allows for the floor plates to be sub-divided if required. The main core contains two 10 person passenger lifts, stairs, and male and female toilet facilities. Adjacent occupiers in Newenham House include: Experian, Cerner and Aramark. ACCOMMODATION Lease Area Lease Area NIA Measurement Survey GIA Measurement Survey Floor sq.m. sq.ft. sq.m. sq.ft. sq.m. sq.ft. Ground Floor 1,009.95 10,871.00 767.90 8,265.60 1,011.30 10,885.53 First Floor 994.99 10,710.00 836.10 8,999.70 1,014.60 10,921.05 Second Floor 824.20 8,871.61 1,018.30 10,960.88 1,966.30 21,165.10 Third Floor 837.10 9,010.46 1,013.70 10,911.37 Fourth Floor 539.96 5,812.00 404.20 4,350.77 548.60 5,905.08 Total 4,511.20 48,558.10 3,669.50 39,498.13 4,606.50 49,583.91 An assignable measured survey has been completed by ORS and is available on the data room. Any intended purchaser will need to satisfy themselves as to the exact area of the subject property. Please note the lease areas above are as stated in the occupational lease documents. 6 || NEWENHAM COURT AT NORTHERN CROSS NEWENHAM COURT SURFACE CAR PARK AND SITE The subject site extends to approximately 0.73 hectares (1.795 acres) and forms part of the Northern Cross development. The site is situated to the north of Newenham Court and is currently in use as a car park, generating income of €207,000 per annum under a 10 year licence. The landlord reserves the right upon granting at least one months’ notice to re-allocate or substitute all licenced car spaces. Planning was granted by Dublin City Council on 25th June 2014 for a period of 5 years. We understand this planning permission will expire on 25th June 2019. ZONING Newenham Court office building & development site are zoned “Z14 Strategic Development and Regeneration Areas” under the Dublin City Council Development Plan 2016 – 2022, The local authority describes the zone as – “To seek the social, economic and physical development and/or rejuvenation of an area with mixed use, of which residential and Z6 would be the predominant uses.” PROPERTY SPECIFICATION ¡ Raised access floors ¡ Floor boxes at ratio of 1 per 10 sq.m ¡ Suspended ceilings with recessed CAT 2 lighting ¡ Four pipe fan coil air conditioning system ¡ High quality reception finishes ¡ Two by ten person Otis passenger lifts ¡ Each floor can be separately metered NEWENHAM COURT || 7 TOILETS AIRS ST LIFTS PLANT RS AI ST FLOOR PLANS TYPICAL FLOOR PLAN S TOILET AIRS ST LIFTS ST AIRS RS AI ST TENANCY & TOILETS ACCOMMODATION SCHEDULEAIRS ST FTS Lease Lease LI Car Current Rent Tenant Name Floor Area Area Measurement Parking Term Commencement Expiry Date Break Next Rent Receivable CEPTIONBasis (Years) Date Option Review sq.m. sq.ft. RE Spaces p.a. Mylan Ireland Ltd. 2nd and 3rd 1,966.30 21,165 GIA 18 10 18/03/2012 17/03/2022 30/11/2019 n/a €397,170 ST AIRS Mylan Ireland Ltd. Ground, 1st and 4th 2,544.90 27,393 NIA 27 10 01/12/2014 01/12/2024 30/11/2019 n/a €372,520.35 Mylan Ireland Ltd. Car Park License n/a n/a n/a 207 10 01/12/2014 01/12/2024 30/11/2019 n/a €207,000 Total 4,511.20 48,558 252 €976,690.35 8 || NEWENHAM COURT AT NORTHERN CROSS FOURTH FLOOR TOILETS AIRS ST LIFTS PLANT RS AI ST For illustration purposes only. TOILETS AIRS ST LIFTS Notes: Lease Lease Car Current Rent Tenant Name Floor Area Area Measurement Parking Term Commencement Expiry Date Break Next Rent Receivable 1. The tenancy schedule contains floor areas stated in the sq.m. sq.ft. Basis Spaces (Years) Date Option Review p.a. respective lease documents. 2. Lease 1 has a break option on 30 November 2019 and ST should the break not be exercised the lease extends to Mylan Ireland Ltd. 2nd and 3rd 1,966.30 21,165 GIA 18 10 18/03/2012 17/03/2022AIRS 30/11/2019 n/a €397,170 RS 17 March 2022. AI ST 3. Lease 2 has a break option on 30 November 2019 and should the break not be exercised the lease extends to Mylan Ireland Ltd. Ground, 1st and 4th 2,544.90 27,393 NIA 27 10 01/12/2014 01/12/2024 30/11/2019 n/a €372,520.35 30 November 2024. 4. The rental position assumes a restructuring of the car spaces within Lease 1 and Lease 2 from what exists Mylan Ireland Ltd. Car Park License n/a n/a n/a 207 10 01/12/2014 01/12/2024 30/11/2019 n/a €207,000 presently. 5. The area occupied by the Car Park License is a surface car park which extends to 1.795 acres. 6. The planning consent for the surface car spaces under Total 4,511.20 48,558 252 €976,690.35 Licence 3 expires in June 2019. NEWENHAM COURT || 9 TOILETS AIRS ST LIFTS CEPTION RE ST AIRS COVENANT INFORMATION Guarantor Mylan Inc. is one of the world’s leading generic and specialty pharmaceutical companies, with sales in approximately 165 countries and territories. The company was founded in Pennsylvania in 1961 and listed on the public stock exchange in February 1973. They have been dedicated to providing access to medicine for more than 50 years, distributing high quality medicine to 7 billion people globally and have a portfolio of more than 7,500 products.