+353 1 661 1233 [email protected] FOR SALE TOPAZ HOUSE, BLOCK 6, By Private Treaty BEECH HILL OFFICE CAMPUS, (Tenant not affected) CLONSKEAGH, DUBLIN 14
Office Investment Opportunity extending to 1,985 sq. m. with 68 car spaces Let to Topaz Energy Limited on 35 year Lease from 9th September 1991 Passing rent €460,000 per annum exclusive Offices recently refurbished INVESTMENT Real Estate for a changing world FOR SALE: TOPAZ HOUSE, BEECH HILL OFFICE CAMPUS, CLONSKEAGH, DUBLIN 14
LOCATION
Located in Beech Hill Office Campus which is situated 4 kms south of Dublin City Centre. The Campus in Clonskeagh
is accessed from Beaver Row linking two of the main arterial routes Stillorgan Road (N11) and Clonskeagh Road
from the City to the South Dublin Suburbs. Both Donnybrook Village and Ranelagh Villages are within walking distance.
Beech Hill Office Campus is divided into seven separate office buildings and occupiers include Ericsson, Nokia, Novartis and Maxim Integrated Products. Other occupiers within the immediate vicinity include Smurfit Kappa, Paddy Power Group Headquarters, Allied Irish Bank, OPW and Roche Pharmaceuticals.
The area is a well-established office location and in addition to the Beech Hill Office Campus, other neighbouring developments include Belfield Office Park, Richview Office Park and Clonskeagh Square.
MOUNT DONNYBROOK ST. ANNES
STILLORGAN ROAD
COWPER LUAS
BEAVER ROW CLONSKEAGH HOSPITAL
MILLTOWN ROAD BEECH HILL OFFICE BEECH HILL RD CAMPUS
BELFIELD Topaz House OFFICE PARK
MILLTOWN
CLONSKEAGH ROAD
MILLTOWN LUAS UNIVERSITY COLLEGE CLONSKEAGH DUBLIN
DESCRIPTION Topaz House comprises detached three storey modern office building extending to total gross internal floor area of approximately 1,985 sq. m. with 68 surface car parking spaces.
The accommodation which was constructed in 1991 is predominantly open plan and benefits from two passenger lifts, raised access floors and suspended ceilings with recessed light fittings. The building is l-shaped in design with the main core area providing male and female WCs on each level.
Topaz has invested in a significant upgrade of the Offices having recently completed a comprehensive internal refurbishment. FOR SALE: TOPAZ HOUSE, BEECH HILL OFFICE CAMPUS, CLONSKEAGH, DUBLIN 14
SCHEDULE OF ACCOMMODATION We understand that the accommodation and approximate gross internal floor areas are as follows:
SQ.M SQ.FT Floor Ground Floor 666 7,169 First Floor 667 7,180 Second Floor 652 7,018 Total 1,985 21,367
Car Parking 68 Spaces
*Purchasers are specifically advised to independently verify floor areas and to undertake their own due diligence.
AT A GLANCE €8,250,000 WAULT 1,985 SQ.M 5.34% OFFICE Sale Price NIY c. 10 years
TENANCY The property is let to Topaz Energy Ltd on 35 year FRI lease from 9th September 1991. The current rent is €460,000 per annum exclusive. Rent reviews are at 5 year intervals on an open market basis.
The property is let as follows:
Demise Tenant Lease Term Commencement Date Rent Review Expiry Date Total Rent Entire Topaz Energy Ltd 35 Years 09/09/1991 09/09/2021 08/09/2026 €460,000 Total €460,000
COVENANT PROFILE Topaz is the leading convenience and fuel retailer in Ireland, with a network of 444 stations across the island of Ireland, more than 30 depots and two owned terminals. 158 service stations are company owned and operated, with 286 stations operated by independent retailers.
Topaz Energy Ltd was acquired in 2016 and is now a fully owned subsidiary of Alimentation Couche-Tard one of the largest company-owned convenience store operators in the world with more than 16,000 stores across Canada, the United States, Europe, Mexico, Japan, China and Indonesia. Block 6 Topaz House
BEECH HILL OFFICE CAMPUS
BEECH HILL ROAD
INVESTMENT SOLICITOR Sale Price €8,250,000 (subject to contract) for the subject Mangan O’Beirne Investment which equates to net initial yield 5.34% based 31 Morehampton Road, on the current rent and allowing for standard purchaser’s Donnybrook costs of 4.46%. Dublin 4
TITLE CONTACT We are advised that the property is held Long Leasehold. Tony O’Beirne (t): + 353 1 668 4333 VAT (e): [email protected] We are advised that VAT is not chargeable on the sale. FURTHER DETAILS / ARRANGE VIEWING BER DETAILS To arrange a viewing or for further information, please contact the BNP Paribas Real Estate Ireland Investment Department:
BER Number: 800509721 Danielle Rocca Devine Energy Performance Indicator: 570.13 kWh/m 2 /yr 1.65 (e): [email protected]
Matthew Vanston
(e): [email protected]
DISCLAIMER BNP Paribas Real Estate gives notice that these particulars are set out for general outline only, for the guidance of intending Purchasers and do not constitute, nor constitute part of an offer or contract. All descriptions, dimensions, references to condition and other details are given without responsibility and any intending Purchasers should not rely on them as statements or representations of fact, but must satisfy themselves or otherwise as to the correctness of each of them. All floor areas are approximate.
20 Merrion Road, Ballsbridge, Dublin 4, D04 C9E2 Tel: +353 1 661 1233 PSRA No: 002702