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THE TRIBE PORTFOLIO EXECUTIVE SUMMARY THE TRIBE PORTFOLIO 01 02 03 04 ABHAINN NA CARRAIG LAIR CAISLEAN MERLIN MBRADÁN CENTRE DEVELOPMENT THORLAIGH COMMERCIAL PARK • High profile retail & residential • Mixed Use Development Located • Two residential apartment blocks • Incoming producing Industrial property overlooking the Canal in in Oranmore Town Centre located in the suburb of Doughiska Units in the suburb of Doughiska Galway City • Development anchored by Lidl • Total of 30 units comprises of a • Eight terraced units • Ground, 1st & 2nd Floor let to • Currently producing an income of mix of two & three bedroom • Currently producing an income of Born Clothing at a passing rent of €244,093 per annum • Currently producing an income of €59,520 per annum €200,000 (ex VAT) • Tenants Not Affected €240,180 per annum • Tenants Not Affected • Residential Element includes four • Guide Price - €3 million • Tenants Not Affected • Guide Price - €800,000 penthouse units • Guide Price - €2.4 million • Tenant Not Affected • Guide Price - €3 million THE TRIBE PORTFOLIO THE TRIBE PORTFOLIO EXECUTIVE SUMMARY CONTENTS 01 ABHAINN NA MBRADÁN CENTRE PG 4 02 CARRAIG LAIR DEVELOPMENT PG 7 03 CAISLEAN THORLAIGH PG 10 04 MERLIN COMMERCIAL PARK PG 13 THE TRIBE PORTFOLIO 1 PORTFOLIO LOCATIONS Carnmore N17 Cross Galway Galway Airport CASTELGAR Technology Park M5 N6 N6 R339 N6 Doughiska Rd. N18 MERLIN N59 COMMERCIAL R365 CENTRE Galway CAISLEAN R446 Business Park THORLAIGH R366 R338 Oranmore Westlink BALLYBANE R446 R339 ROSCAM Commercial ABHAINN Park R338 NA MBRADÁN CENTRE R338 ORANMORE R337 Kiniska GALWAY CITY CARRAIG LAIR DEVELOPMENT N18 Salthill R336 RINVILLE 2 THE TRIBE PORTFOLIO THE TRIBE PORTFOLIO PORTFOLIO AERIALS ABHAINN NA MBRADÁN CENTRE MERLIN COMMERCIAL CENTRE CAISLEAN THORLAIGH CARRAIG LAIR DEVELOPMENT THE TRIBE PORTFOLIO 3 N6 R336 R864 R338 DYKE ROAD N59 HEADFORD ROAD BOHERMORE ROAD RIVER CORRIB LOUGH ATALIA COLLEGE ROAD UNIVERSITY ROAD Waterside FAIRGREEN ROAD PROSPECT HILL STATION RD. Eyre Street R864 EYRE SQUARE ABHAINN NEWTOWNSMITH NA MBRADÁN CENTREBRIDGE STREET SHANTALLA ROAD CEANNT LOUGH ATALIA ROAD TRAIN/BUS ST New Road Middle Street HENRY ROAD St. Augustine St. R864 MERCHANTS ROAD DOCK ROAD DOCK ROAD CLADDAGH QUAY R337 R337 R336 ABHAINN NA LOCATION R864 MBRADÁN CENTRE • The subject property is located at the • Adjoining occupiers include the Mercy junction of Newtownsmith and Mill Race in Secondary School, Accord,SOUTH PARK Sally Longs and NEWTOWNSMITH, Galway City Centre. WHITESTRAND ROAD is in close proximity to Galway Courthouse • Newtownsmith is a secondary retail & NUIG GALWAY BAY GALWAY location, located close to the junctionGRATTAN of ROAD • It also have the benefit of adjoining Upper Abbeygate Street and Mary Street. Bowling Green public car park. 4 THE TRIBE PORTFOLIO THE TRIBE PORTFOLIO DESCRIPTION • The property comprises retail accommodation on the ground, first and • The commercial accommodation is finished to a high standard of second floors, and 4 no. 2 bed large penthouse apartments on the third specification and fit out. floor. It extends to a total area of 42,697 sq ft • Three of the apartments are finished to a shell and core specification, and the • A clothing store trading as Born operates over the majority of the ground fourth apartment is fully finished and fitted, however is unfurnished. floor and the entire of the first floor and a furniture store trading as the • The apartments have their own door access from the street level and are Home Gallery occupies the second floor. served by a lift. THE TRIBE PORTFOLIO 5 THE TRIBE PORTFOLIO ACCOMMODATION We have set out below the net internal areas (NIA) for the commercial accommodation and the gross internal (GIA) floor areas for the penthouse apartments which have been measured in accordance with the SCS Measuring Practice Guidance Notes. DESCRIPTION (GIA) Sq m Sq ft Ground Floor – Born & Coffee Shop 1,341.45 13,358 First Floor – Retail (Born Retail) 1,022.58 11,000 Second – Retail ( The Home Gallery) 1,030.76 11,086 Third – Apt1 150.24 1,617 Third – Apt 2 153.40 1,651 Third – Apt 3 154.58 1,664 Third – Apt 4 105.49 1,136 Total Area 3,958.51 39,895 GROUND FLOOR PLAN TENANCY ZONING VAT TENURE • The ground, first & second floor is currently Planning policy for the area is contained within the We understand that the Title to the property is held occupied by Born Clothing at a passing rent of Galway City Development Plan 2011-2017. The property has been elected by way of freehold. €200,000 per annum, the tenant has lease until property is located in an area zoned Objective CC for the purposes of VAT. the end of February 2016 which is defined as “To provide for city centre activities • The penthouse apartments are currently vacant and particularly these, which preserve the city centre as BER the dominant commercial area of the city”. The property is rated 6 THE TRIBE PORTFOLIO THE TRIBE PORTFOLIO N18 Deerpark Business Park N Oranmore Business R446 Park To Galway Westlink Commercial Park Oranmore Lodge Hotel N18 R446 ORANMORE N18 CARRAIG LAIR DEVELOPMENT CARRAIG LAIR LOCATION • The subject property is located in • The property is located just • The subject property is located DEVELOPMENT Oranmore village centre, off the N18, Galway/Limerick approximately 0.1km south east of LIMERICK ROAD, Co. Galway. Road in Oranmore, Co. Galway, Oranmore village. • The property comprises a approximately 11km east of • It is adjacent to a number of one ORANMORE, provincial shopping centre over Galway City off housing, and the Cloch Óg and two levels with a second floor level Coill Clocha residential estates. CO GALWAY of offices. THE TRIBE PORTFOLIO 7 THE TRIBE PORTFOLIO DESCRIPTION • Th e subject property comprises a recently completed • The development is anchored by Lidl on the ground floor. • There is designated surface car parking provided to provincial shopping centre over two levels with a second • Other occupiers within the development include The the front and side of the development together with a floor level of offices, with basement and surface Home Store, Brazco Coffee Shop, Concepts & Saz Barber basement car park which we understand accommodates car parking. approximately 185 car parking spaces. • The second floor accommodates a level of shell and core • It is anchored by Lidl and The Home Store. vacant offices set around a courtyard, which extend to a • It is located on a site extending to approximately total of 14,621 sq ft and are also capable of subdivision. 0.88ha (2.17 acres). 8 THE TRIBE PORTFOLIO THE TRIBE PORTFOLIO GROUND ACCOMMODATION FLOOR PLAN Measurement is on a gross internal basis in accordance with the current Measuring Practice Guidance Notes prepared by the Society of Chartered Surveyors. DESCRIPTION (GIA) Sq m Sq ft Basement – Vacant Retail 107.27 1,155 Basement – Lidl Store 42.92 462 Basement – The Home Store 181.74 1,956 Ground Floor - Lidl 1,447.93 15,585 Ground Floor – Barber 59.31 638 Ground floor – Vacant Retail (shell & Core) 650.62 7,003 First Floor – The Home Store 2,128.94 22,916 First Floor – Brazco Coffee Shop 105.17 1,132 First Floor – Cobblers Shoe Shop 128.46 1,383 First Floor – Concepts Boutique 390.94 4,208 Second Floor – Vacant Shell and Core offices 1,358.33 14,621 TENANCY Total Area 6,601 71,053 • The Lidl unit on the ground floor is occupied • The Concepts unit is leased to Joan Lynch by Lidl under a 25 year lease from 13 May under a 4 year 11 month lease from 1 July 2008 at a rent of €200,000 per annum, with 2009 at a rent of €16,958 per annum break options at end years 4, 8 & 12. • The Brazco Coffee Shop does not have a ZONING TENURE • There are a number of smaller vacant units on signed lease in place, however the draft lease Planning policy for the area is Title to the property is held by way of the ground floor, including Sax Barber paying is for a term of 25 years with a break option in contained within the Oranmore freehold. a rent of €7,804 per annum, the remainder of years 3 & 5 and of €16,629 per annum Local Area Plan 2012-2019 the units are shell and core retail and extend • The second floor comprises shell and core and specifically zoned this to a total of 7,003 sq ft. offices extending to 14,621 sq ft which are area as ‘Town Centre (Mixed • The Home Store on the first floor is under lease capable of subdivision. Development)’. VAT with Denis Curley extends to 22,916 sq ft. We understand that the property has BER been elected for the purpose of VAT. The property is rated THE TRIBE PORTFOLIO 9 N6 N6 Deerpark To Galway N6 Business Park Oranmore Business R446 Park Westlink Commercial Park Oranmore Lodge Hotel DOUGHISKA R446 N18 CAISLEAN THORLAIGH R446 To Oranmore R446 N18 To Galway R338 APT 1 – 15 | APT 62 - 76 LOCATION • Located in an established residential • Adjoining occupiers includ e Fearann Ri and CAISLEAN THORLAIGH, location in Caislean Thorlaigh, Doughiska, Fionn Uisce Residential Estates, The Racing MERLIN WOODS, Galway. Lodge Hotel and Briarhill Shopping Centre. • They are located 6 km east of Galway city DOUGHISKA, GALWAY centre. FOR SALE IN 1 OR 2 LOTS 10 THE TRIBE PORTFOLIO THE TRIBE PORTFOLIO DESCRIPTION • The subject property comprise of two three storey detached • It sits on a site of approximately 0.15 hectares (0.37 acres). residential blocks, each block comprising of fifteen no. apartments • Communal car parking is provided on a tarmacadam surface to the which consists of six no. three bedroom duplex apartments and nine front of the apartments.
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