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.
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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.
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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
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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).
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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
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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. no. two bedroom apartments. • Internally the apartments are finished to a good standard. • The building is of concrete block wall construction with a mix of • The property is located in an area zoned objective “R” (Residential) rendered and painted and part timber panelled elevations under a under the Galway City Development Plan 2011-2017. pitched slated roof which extends to 1,134 sq m (12,211 sq ft).
THE TRIBE PORTFOLIO 11 THE TRIBE PORTFOLIO
ACCOMMODATION We have set out below the gross internal (GIA) floor areas of the residential accommodation which have been calculated in accordance with the SCS/IAVI Measuring Practice Guidance Notes.
Lot 1 Lot 2 DESCRIPTION Sq m Sq ft
1 62 Two bed apt 83.56 899.46 TENANCY LOT 1 ZONING • The 15 apartments are let to Planning policy for the area is 2 63 Two bed apt 83.56 899.46 tenants on an individual basis, contained within the Galway 3 64 Two bed apt 83.56 899.46 however there is a Pre-Emption City Development Plan 2011- 4 65 Three bed duplex 92.36 994.17 Agreement and Guarantee with 2017. The property is located Galway City Council for a term of in an area zoned objective “R” 5 66 Two bed apt 54.94 591.37 nine years and 11 months from (Residential) under the Galway City 6 67 Two bed apt 54.94 591.37 29 September 2006 whereby the Development Plan 2011-2017. City Council guarantees the rent 7 68 Three bed duplex 92.36 994.17 of each apartment. TENURE 8 69 Three bed duplex 92.36 994.17 • The current rent is €116,400 per annum. Title to the property is held by 9 70 Two bed apt 54.94 591.37 way of freehold. 10 71 Two bed apt 54.94 591.37 11 72 Three bed duplex 92.36 994.17 TENANCY LOT 2 VAT 12 73 Three bed duplex 92.36 994.17 • The 15 apartments are let to We understand that the property tenants on an individual basis is not vatable. 13 74 Two bed apt 54.94 591.37 on short term rental agreements 14 75 Two bed apt 54.94 591.37 producing an income of €123,780 per annum. BER 15 76 Three bed duplex 92.36 994.17 The property is rated Total Area 1,134.48 12,211.62
12 THE TRIBE PORTFOLIO MERLIN LOCATION • The properties are situated in the Merlin Park Commercial • Doughiska is one of Galway’s newest residential suburbs, with COMMERCIAL Centre, located in the residential suburb of Doughiska which the majority of development in the area occurring in the past PARK, is approximately 6km east of Galway city centre. 10-15 years. The area is considered a secondary residential • Doughiska is located close to the M6 Galway-Dublin Road location and has a population of approximately 5,000 people. DOUGHISKA, and also provides ease of access to the N18 • Other units within the Commercial Centre include the Galway-Limerick Road. NCT Centre, BWG, Connaught Packaging and a Primary GALWAY Care Centre.
DESCRIPTION ACCOMMODATION The subject property Measurement was on a gross internal basis in comprises of eight terraced accordance with the current Measuring Practice industrial units, each with a Guidance Notes prepared by the Society of Chartered small first floor mezzanine and Surveyors. surface car parking.
TENANCY
Rent p.a. Description Sq ft (approx) Unit 1 Commercial Vacant 4,578 vacant Unit 2 & 3 Commercial Galway Car Services 9,156 €21,960 Unit 4 Commercial Stuntworx 4,578 €13,500
N6 Unit 5 Commercial Applus 4,578 €13,500 Unit 6, 7, 8 & yard Commercial 13,736 vacant
N6 Deerpark To Galway N6 Business Park ZONING TENURE Oranmore Business MERLIN R446 Park Planning policy for the area is contained Title to the property is held by way of Westlink COMMERCIAL Commercial CENTRE Park within the Galway City Development Plan freehold Oranmore Lodge Hotel DOUGHISKA 2011-2017. The property is located in an R446 N18 area zoned objective “Industrial ” under the
Galway City Development Plan 2011-2017 VAT
R446 To Oranmore We understand that the property has R446 BER been elected for the purposes of VAT
N18 The property is rated To Galway
R338
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www.thetribeportfolio.ie THE TRIBE PORTFOLIO
TENURE PROPOSAL AGENTS Title to the property is held We are inviting parties to All viewings are strictly by by way of freehold bid by way of individual lots appointment through the sole or the entire – selling agent. Initial bids will be sought VAT on Friday 16th October We understand that the 2015 at 12 Noon property has been elected for the purposes of VAT Bids should be marked for Patricia Staunton Sean Coyne George Brady the attention of Head of DTZ Galway Associate Director Surveyor DATA ROOM 2 Dockgate, Dock Road, Email: [email protected] Email: [email protected] Email: [email protected] Lorna O’Dwyer Galway, Ireland. Tel: +353 91 569181 Tel: +353 91 569181 Tel: +353 91 569181 Access to an online data Ronan Daly Jermyn room containing the Solicitors, following documentation is Aengus House, available via Dock Street, www.thetribeportfolio.ie Galway Conditions to be noted: 1. These particulars do not constitute an offer or contract or any part thereof and none of the statements contained in the particulars as • Occupational leases to the property to be relied on as a statement or representation of fact. 2. The vendor does not make or give, nor is the Agent(s) or its staff authorised to make • Indicative floor plans or give any representation or warranty in respect to this property. 3. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and 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 • BER’s or representations of fact but must satisfy himself/herself by inspection or otherwise as to the correctness of each of them. 4. In the event of any inconsistency • Title Documentation between these particulars and the contract of sale, the latter shall prevail. 5. The terms, Vendor and Purchaser, where the context requires shall be deemed to refer to Lessor and Lessee and Landlord and Tenant respectively. 6. Prices are quoted exclusive of VAT (unless otherwise stated) and the purchaser/lessee shall be liable
t 01 845 9925 e [email protected] for any VAT arising on the transaction. w www.avalanchedesign.ie
PSRA No. 002222 Brochure design by
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