PRIME RETAIL INVESTMENT OPPORTUNITY 14-16 MARY STREET DUBLIN 1 FOR SALE BY PRIVATE TREATY - TENANTS NOT AFFECTED 14-16 MARY STREET DUBLIN 1 KEY INVESTMENT HIGHLIGHTS Prime Retail Investment Single-let to McDonald’s Restaurants of Ireland Limited Unexpired lease term in excess of 16.5 years Currently producing a rent roll of €733,000 p.a. Tenants not affected 1 14-16 MARY STREET DUBLIN 1 LOCATION The retail thoroughfare of Mary Street and Henry Street is one of two primary retailing streets in Dublin and recorded an annual footfall of 29 million during 2016 (Source: Dublin Town). Mary Street and Henry Street have an extensive provision of retail, with 60 units providing approximately 110,000 sq m of retail accommodation. The street is resident to a number of leading department stores including Arnotts and Debenhams as well as a number of leading international and domestic retailers including Zara, River Island, H & M, Mango and Dunnes Stores. 14-16 Mary Street is situated at the western end of the street, directly facing the recently refurbished Penneys store. The property adjoins the Jervis Shopping Centre, one of the leading Shopping Centres in Dublin city centre, which boasts an impressive tenant mix including Top Shop, Forever 21, Next, Marks & Spencer and Tesco. Due to the prime city centre location, the area offers excellent transport facilities including the Luas Red line, situated less than 140 metres from the subject property. In 2016 over 34 million passengers travelled on the Luas and this number is estimated to grow by 10 million passengers when the Luas Cross City commences operation at the end of 2017. Numerous Dublin Bus routes connect at O’Connell Street and Irish Rail at Heuston and Connolly Stations. In addition there are a number of taxi ranks, multi storey car parks and Dublin Bike stations in the immediate vicinity. 2 14-16 MARY STREET DUBLIN 1 3 M A R Y S T R E E T H E N R Y S T R E E T LUAS RED LINE GRESHAM HOTEL FORMER CLERYS DEPARTMENT STORE LUAS CROSS CITY PENNEYS PROPOSED DUBLIN CENTRAL SITE EASONS GPO ARCADE ARNOTTS DEPARTMENT STORE DEBENHAMS DEPARTMENT STORE ILAC SHOPPING CENTRE ZARA MARKS & SPENCER H&M JERVIS SHOPPING CENTRE 14-16 MARY STREET PENNEYS CINEWORLD 14-16 MARY STREET DUBLIN 1 N O R T H F R E D E R I C K S T H IL L S T R E H E E T NR IE TT A ST LL P RHI A MME PL R SU A LUAS Cross City N T E ET L I L NR T LUAS E EE K S H R IN Q STOP T G S ’S W N IN E TO N S L ’ LUAS T O S B ST STOP D O M I N O IC ’ K C L O N N ST UPPER N RMOTT A N MAC DE E SEA N L N T L E S S S N PARNELL LUAS T T B E M R E E N STOP G R O R E O CENTRE WAY ST A RAIL E O G E R ET S E R B R R T T F T E S J E D H L R O A L U E A 14-16 N L I R M A M V P N P N D E E O P E R S S MARY STREET O E R T R J S R O T E S C Y U T CK ILAC S OO N C L R T SHOPPING E E S E W T T O CENTRE J E L L R F O ST E Y V E W L O F I T Due to open late 2017 S O E S N R T E G S M R M AR T CONNOLLY E Y ’S A A L E AN E R K R S MARY ST HENRY ST L H R B E STATION S R A I O T F O F C N TALBOT ST LUAS R ST ’ A S O C STOP LO P U T O W E G E E JERVIS R N A H L E E N C S SHOPPING S S A C T U ARNOTTS T L S R T T TO L P E M CENTRE L T E HO E R O U E S S E LUAS LB R E H P T LUAS T A CHANC T A S R P E R B RY ST STOP STOP T OU T U MARY’S E S R ABBEY S UP E EN L PER ABBEY ST T I E RI M M O IDDLE A BBEY ST A LUAS LUAS Red Line LUAS L STOP I L ABBEY ST LOWER I F N O STOP N F S S E LUAS H Q W ERI U ORMOND SQ Y FF A S Y S E STOP T L T O R W LOTTS E L NORTH R ME GREAT STRAND O C R ST W R CH G INAN AN E EO ST R R R T'S Q ORMOND QUAY GE’S AND U UPPER EDEN QUAY DO T AY CK E ORMO E ND Q K CUSTOM HOUSE R UAY LOW HELORS WAL T ER BAC S L CO E BU P OK S SSEX QU RGH QUAY E S M TRE AY QUAY G N AY ET ASTON N O O WELLINGTON QUAY A R S H M TR D C EE H T ’ X M LO O A E O W LUAS L W C ER ESSE I PO X S K O T EAST TEM STOP E LBE PLE R I G T BAR N ST S S S S C E T U T S S C E S TO F T LEET S A M N T A H T A O S U L R T S U E E S A Q E L T CI UA P A TY Y CO E LUAS Cross City QU M P T ARD ST E ST S T W E S LORD ED E A T Y 4 DAM L E S E S G K S T N U S G A L O LOU M CE LUAS STE DAM STOP TOW R S E LN NSE T SO ND ST UTH TRINITY COLLEGE P EAR SE STR EE T T S N O T H IG MA E RK’S R LN C H AN OV ER ST E AST R E W O L T S E N R E 14-16 MARY STREET DUBLIN 1 DESCRIPTION 14 – 16 Mary Street comprises a three storey over basement mixed use end of terrace building which extends to a total net internal floor area of approximately 1,045 sq m (11,247 sq ft). The property benefits from extensive frontage of 15 metres along Mary Street and approximately 22 metres of return frontage along Jervis Street. Access to the subject property is available from both streets. The retail element extends to approximately 516 sq m (5,553 sq ft) in total and is laid out over basement and ground floor. The ground floor accommodation comprises an extensive restaurant dining area with capacity for 100 customer seats, customer toilets and a large kitchen and preparation area. The basement level comprises additional customer seating, customer toilets, storage, staff facilities and plant rooms. The office accommodation is accessed via Jervis Street and extends to approximately 529 sq m (5,694 sq ft) in total. The office accommodation is laid out on the first and second floors of the building with floor plates ranging from 260 sq m to 269 sq m. The accommodation is finished to a modern specification including raised access floors and suspended ceilings. A passenger lift and internal staircase serves all floors. The building is of concrete construction while the façade is finished with a mix of Portland Stone and red brick. 5 14-16 MARY STREET DUBLIN 1 SCHEDULE OF ACCOMMODATION Malcolm Hollis Areas Rent Review Areas Floor Level NIA (Sq m) NIA (Sq ft) NIA (Sq m) NIA (Sq ft) RETAIL ACCOMMODATION Ground Floor 259 2,785 298 3,203 Basement Floor 257 2,768 273 2,941 ITZA 121 1,302 149 1,601 OFFICE ACCOMMODATION First Floor 269 2,894 278 2,989 Second Floor 260 2,800 304 3,277 Total 1,045 11,247 1,153 12,410 ** The Malcolm Hollis measurement survey and details of the rent review areas are available in the data room. TENANCY McDonald’s Restaurants of Ireland Limited occupy the entire of 14 - 16 Mary Street on a 35 year FRI lease from 4th of December 1998, with approximately 16.5 years remaining unexpired. The tenant is currently paying a rent of €733,000 per annum on a lease with upward only rent reviews, the next review is due in December 2018. The first and second floor office accommodation are sub-let. Details relating to the sub-letting are available in the data room. COVENANT INFORMATION McDonald’s Restaurants of Ireland Ltd trading as McDonald’s originally commenced trading in Ireland in 1977 on Grafton Street and have since grown to operate over 80 stores in the Republic of Ireland. The company had a turnover in excess of €84.9 million in 2015 (as per their last audited accounts on Vision Net), with a post-tax profit of €10.4 million.