Longboat Quay

Multi-Family Investment Opportunity

Longboat Quay

GRAND CANAL DOCK DUBLIN 2

For Sale by Private Treaty Longboat Quay Multi-Family Investment Opportunity GRAND CANAL DOCK DUBLIN 2

LUAS George’s Dock

Citibank The Convention Centre A&L Goodbody Morgan Stanley PwC Bloomberg Three New Central Bank

Facebook HQ

Bord Gais Theatre Longboat Quay North The Marker Hotel William Fry SEB Matheson Capita 3Arena LogMeIn HSBC State Street TripAdvisor

Airbnb Capital Dock Longboat Quay South Accenture

Zalando

Bolands Mill

Mason, Hayes & Curran Monevetro Building

Google HQ

Sale Summary

• Multi-family investment (part of larger development) comprising 17 apartments and 23 • Forecast gross ERV of approx. €545,000 per annum (assuming 100% occupancy) secure car spaces • Average unit size: 1 Bed 507 sq ft / 2 Bed 785 sq ft / 3 Bed 885 sq ft • Complimentary mix of 1,2 and 3 bed units • Highly sought-after rental location • 1 duplex penthouse apartment for sale in shell and core condition • Excellent tenant amenities and transport links nearby • 15 of the units for sale with vacant possession T E Multi-Family Investment Opportunity E R T Longboat Quay S M50 T E S R ET O RE GRAND CANAL DOCK D T S Broadstone DUBLIN 2 LL NE AR P

Location D A O R T S Dominick A Connolly E

Longboat Quay occupies a dual aspect position on O’Connell Docklands

Upper T

L SHERIFF

both Sir John Rogerson’s Quay and Grand Canal Dock, L Marlborough STREET U

E PPER N George’s Dock

Mayor Square N

offering enviable waterfront views and direct access to O Abbey Busaras

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T Street Spencer Dock

a host of amenities. The area benefits from excellent L

E The Point P A

transport infrastructure that is positioned within short C Jervis O’Connell GPO walking distance of the subject properties. These NO RTH WA Four Courts LL QUAY CITY provide convenient access to the Dublin City Centre Tara QUAY Street and surrounding areas. Longboat Quay

Westmoreland SIR J OHN R OGER SON’S One of Longboat Quay’s greatest attractions is its Trinity QUAY

immediate employment hub, with global employers HA GRA NOVER TRINITY ND QUAY EET CAN STR COLLEGE AL S such as Google, Facebook and Airbnb also choosing DAME T LO WER the South Docklands as their preferred location. This Pearse

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E E

makes it an ideal place to live, work and socialise. R R

T T

S S

R N Dawson

E I O

T G ALL WITHIN WALKING DISTANCE: F N A U R R A G E P M Facebook HQ 270m P O U UNT T E ST E MERRION L Airbnb HQ 300m R OW T SQUARE E S R Grand Canal Dock N IO A&L Goodbody 550m St Stephen’s R R E T Green S M A PwC 650m ST STEPHEN’S E B T GREEN AG S MOUNT ST UPPER G S O E VENUE T BATH A Google HQ 750m ST M R A EE J T Central Bank of Ireland 900m Luas Green Line D A RO Luas Red Line B N A TO Twitter HQ 1.3km G G G IN N E D O D O Luas Cross City C A T H R A S Aviva L T T H P R Stadium E U M E T M Dublin Bus Stop A I B L L E I D R W A L Dublin Aircoach Stops O A Z R IL N Lansdowne Road IT Harcourt SP D F E M R Dart Stations O

A D ADELA IDE R PEM OA BR AR ROAD D OK DublinUTH CityCIR BikeCU TerminusL E E ROA SO AD D AR D P RAN G

Charlemont AD CANAL RO

GROVE ROAD

Ranelagh Longboat Quay Multi-Family Investment Opportunity GRAND CANAL DOCK DUBLIN 2

Asset Overview

Longboat Quay is an exclusive mixed-use development constructed circa 2006 consisting of retail, office and residential accommodation. The overall Longboat Quay development comprises 299 residential units, of which 17 residential units make up the subject multi- family investment opportunity. The development is designed around 2 blocks with the subject properties being dispersed throughout. The blocks are centred around two courtyards which include children’s play areas.

Of the 17 units, there are 2 one beds, 4 two beds, 10 three beds and 1 shell and core penthouse, all which have lift access to every floor. The penthouse boasts an impressive private roof terrace providing skyline views of Dublin City Centre. Included in the sale are 23 secure basement and surface car parking spaces.

There is currently the benefit of 15 vacant units.

South Block Dual aspect on Sir John Rogerson’s Quay and

Longboat Quay North Grand Canal Dock

13 ITS

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Longboat Quay South

Plans are for identification purposes only / not to scale Longboat Quay GRAND CANAL DOCK DUBLIN 2 Floor Plans Floor Plans

Typical 1 Bed Apartment Typical 3 Bed Apartment

Typical 2 Bed Apartment Penthouse Apartment (shell and core)

Plans are for identification purposes only / not to scale Longboat Quay Multi-Family Investment Opportunity GRAND CANAL DOCK DUBLIN 2

Income Potential Multi-Family Market

Economic Overview Estimated Achievable Average Rent (Dependant on Elected Asset Management Strategy) €2,673 7.2%

Ireland continues to Total output is rising at an Reflecting Ireland’s economic There are now more Total Estimated Rental Value experience the fastest annual rate of 7.2% outperformance, total people employed in rate of economic growth (4 Qtr. Mov. Avg. basis) employment is now rising by the Republic than ever €545,000 in the EU 66,700 (+3%) per annum before

Residential Rental Market Description No. Units Average Size per Average Size Average ERV per Sq M per Sq Ft Month 1.35% 1 BED 2 47.1 507 €2,000

2 BED 4 72.9 785 €2,400 Demand for rented Proportion of households Despite an expansion in the 10 82.2 885 €2,850 3 BED accommodation continues to renting privately in Dublin overall stock of properties be driven by the affordability have doubled to 25% in in Dublin’s PRS, vacancy has Shell & Core Penthouse 1 63.2 680 €2,900* challenges of home ownership fifteen years fallen to just 1.35% All prospective purchasers are specifically advised to satisfy themselves to the accuracy of any measurements, tenancy information, ERV referred to herein and undertake their own due diligence.

*Please note the penthouse is shell and core condition and prospective purchasers will be required to undertake fit-out Natural Vacancy With the actual vacancy rate beneath Average Rate (NVR) the NVR, the net result has been residential rents estimate is 5.19% in Dublin are 9.5% in the capital rising rents currently rising by per annum

Rental Growth Forecasts

Overall continued growth of Residential Rents Forecast – Dublin New Lets

on new residential lettings 150

in Dublin is forecast over the 140 17.3% twelve quarters Q3 2018 - 130 Q2 2021 120

110

100

Average rental growth of Index: Q3 2007 100 90

80 per annum is expected 70 6.2% on new lets over this period 2007 Q3 2008 Q1 2008 Q3 2009 Q1 2009 Q3 2010 Q1 2010 Q3 2011 Q1 2012 Q1 2012 Q3 2013 Q1 2013 Q3 2014 Q1 2014 Q3 2015 Q1 2015 Q3 2016 Q1 2016 Q3 2017 Q1 2017 Q3 2018 Q1 2011 Q3 2021 Q1(f) 2018 Q3(f) 2019 Q1(f) 2019 Q3(f) 2020 Q1(f) 2020 Q3(f)

Source: Savills Research Longboat Quay

GRAND CANAL DOCK DUBLIN 2

Selling on behalf of Viewings

Viewings are strictly to be arranged through the selling agents.

Guide Price Selling Agents

€8,750,000 (inclusive of VAT) Savills 33 Molesworth Street Dublin 2 www.savillls.ie BER Details PSRA No: 002233

Dessie Kilkenny +353 1 618 1401 [email protected] VAT Position on Sale John Earley Please refer to the data site for information +353 1 618 1766 regarding VAT on the sale [email protected]

Darragh Doyle Project Website +353 1 618 1341 [email protected] www.longboatquay.com Solicitors

Beauchamps Gerry Gallen Riverside Two +353 1 418 0619 Sir John Rogerson’s Quay [email protected] Dublin 2

The agents and the Vendor/Lessor give note that the particulars and information contained in this brochure do not form any part of any offer or contract and are for guidance only. The particulars, descriptions, dimensions, references to condition, permissions or licences for use or occupation, access and any other details, such as prices, rents or any other outgoings are for guidance only and are subject to change. Maps and plans are not to scale and measurements are approximate. Whilst care has been taken in the preparation of this brochure intending purchasers, Lessees or any third party should not rely on particulars and information contained in this brochure as statements of fact but must satisfy themselves as to the accuracy of details given to them. Neither Savills nor any of their employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and neither Savills nor any of their employees nor the vendor or lessor shall be liable for any loss suffered by an intending purchaser/lessees or any third party arising from the particulars or information contained in this brochure. Prices quoted are exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchasers/lessees shall be liable for any VAT arising on the transaction. All maps produced by permission of the Ordnance Survey Ireland Licence No AU 001799 © Government of Ireland. Designed and produced by Creativeworld. Tel +44 [0] 1282 858200.