Davy Irish Property Fund

DAVY IRISH PROPERTY FUND PURE PROPERTY Contents Davy Irish Property Fund 1 INTRODUCTION Portfolio Overview 2 The Davy Irish Property Fund is authorised as a Qualifying Investor Alternative Investment Fund (“QIAIF”) by the Central Bank of Fund Financials 4 Ireland and is available to Qualifying Investors only, as defined in the Information Memorandum. Portfolio Performance 6 The Fund is a long-term, speculative investment, suitable only for Business Model and Strategy 8 sophisticated investors who are in a position to tolerate the risks associated with the Fund. Our People 10 The investment objective and policy is to achieve stable income and Office Holdings 12 capital appreciation, primarily through long-term investment in Irish commercial property. Investors should note however, that there is no Retail Holdings 14 guarantee this objective will be achieved. Fees & Charges 17 For further information visit: www.davy.ie./real-estate/dipf Risks 18 Important Information 20 PICTURED BELOW Atrium of the National Treasury Management Building, Grand Canal Street, Dublin 2 DAVY IRISH PROPERTY FUND The Davy Irish Property Fund (“DIPF” or “the Fund”) is an open ended, commercial property fund, focused on direct investment in Dublin, institution quality, office, retail and industrial assets. DIPF’s investment objective is to achieve stable income and capital appreciation through long term investment in and management of Irish commercial property. The Fund Managers adopt a holistic approach with a view to delivering above market returns, by bringing together Investment Management, Development Management and Asset Management to drive value across the portfolio. Fund Overview €284m 5.6% 3.0% Net Asset Value Total Shareholder Vacancy Rate Return - 1 year 4.8% 6.3 years 29 Projected Distributions WAULT Properties for 2018 All data correct as at 31 March 2018 Source: J&E Davy unless otherwise stated All data refers to Unit Class D (Distributing) - Sedol Number 9795233 Source Net Asset Value NAV - Northern Trust WAULT = weighted average unexpired lease term Vacancy Rate by Value of the Fund Warning: Past performance is not a reliable guide to future performance. The value of your investment may go down as well as up. If you invest in this product, you may lose some or all of the money you invest. Warning: Forecasts are not a reliable guide to future performance. DAVY IRISH PROPERTY FUND 1 NORTH CIRCULAR ROAD CROKE PARK RUSSELL STREET BERKELEY STREET NORTH DOCK BELVEDERE PLACE NORTH CIRCULAR ROAD EASTPOINT STREET WEST ROAD PORT TUNNEL NORTH DOCK WEST ROAD FITZGIBBON STREET SUMMERHILL PARADE PHIBSBOROUGH ROAD NORTH STRAND ROAD EASTPOINT STREET SEAVIEW AVENUE EAST CHARLES STREET GREAT MOUNTJOY PORTLAND ROW EASTPOINT STREET SQUARE PARK MOUNTJOY SQUARE SOUTH SUMMERHILL NORTH STRAND ROAD GARDINER ROW GARDINER STREET MIDDLE DORSET STREET NORTH GREAT GEORGES STREET HILL STREET PROMENADE ROAD LEDO CA N RO RAVENSDALE ROAD AD GRANBY ROW PARNELL SQUARE EAST ROYAL CANAL T EE TR CONNOLLY DOMINICK STREET UPPER L S EL STATION CALEDON ROAD RN PROMENADE ROAD PA HAWTHORN AVENUE EAST ROAD RAILWAY STREET ST MARS ROAD SEAN MACDERMOTT STREET LOWER L L I H GRANGEGORMAN LOWER N O I T CHURCH ROAD MERCHANTS ROAD U D T I A T O S SEVILLE PLACE TOLKA QUAY ROAD R KIRWAN STREET N E O FOLEY STREET EAST ROAD N C A L L I K SHERIFF STREET LOWER KIN G’S LOWER STREET GARDNER INN S STREET JOYCE JAMES TR EET MANOR STREET ORIEL STREET UPPER EAST WALL ROAD H Portfolio Overview T R HARBOURMASTER PLACE DOCKLANDS O ALEXANDRA ROAD N T STATION E E R T SHERIFF STREET LOWER S R E G P IN P K TALBOT STREET U T E AMIENS STREET E R T SHERIFF STREET UPPER PORTFOLIO BREAKDOWN GEOGRAPHICAL SPLIT S H C BRUNSWICK STREET NORTH R U H MAYOR STREET LOWER ALEXANDRA ROAD C PARNELL STREET GUILD STREET PARK LANE K ING STREET NORTH HENRY STREET GPO DUBLIN PORT CAPEL STREET CAPEL MARY STREET CUSTOM HOUSE EXCHANGE PLACE CONVENTION COMMONS STREET CHURCH STREET BERESFORD STREET STREET BERESFORD CUSTOM HOUSE QUAY QUEEN STREET CUSTOM HOUSE QUAY CENTRE BLACKHALL STREET UER STREET OCONNELL PARK LANE BLACKHALL PLACE MARY STREET LITTLE EDEN QUAY NORTH WALL QUAY Office 51% Dublin 96% UPPER STREET LIFFEY EAST WALL ROAD NEW WAPPING STREET SMITHFIELD MARS LANE STREET JERVIS MAS LANE CASTLEFORBES ROAD Retail 43% BOW STREET Outside Dublin 4% HENDRICK STREET GEORGES QUA NORTH WALL QUAY Industrial 6% HAYMARKET BURGH QUAY CITY QUAY TARA SEAN OCASE BRIDGE GREEK STREET GREEK LIFFEY ST LOWER ST LIFFEY STREET BACHELORS ALK POOLBEG STREET RIVER LIFFEY DOLIER STREET STATION MOSS STREET CITY QUAY SAMUEL BECKETT BRIDGE GLOUCESTER STREET SOUTH ELLIS QUAY HAMMOND LANE ASTON QUAY R SIR JOHN ROGERSONS QUA WE TARA STREET Y LO LUKE ST ND QUA ORMO Y CAPEL STREET CAPEL UA USHERS ISLAND ARRAN QUAY N Q PTO RAM TOWNSEND STREET ARRAN STREET EAST STREET ARRAN C FLEET STREET TOM CLARKE BRIDGE TOWNSEND STREET LIME STREET CHURCH STREET CHANCERY PLACE CHANCERY USHERS QUA ORMOND QUAY UPPER WELLINGTON QUAY LOMBARD STREET EAST ISLAND STREET INNS QUAY TEMPLE BAR FORBES ST PEARSE STREET HANOVER STREET EAST CARDIFF LANE ESSEX QUAY BENSON STREET ASGARD ROAD OFFICE RETAIL INDUSTRIALMERCHANTS QUA MARK STREET HANOVER STREET EAST YORK ROAD WOOD QUAY T COPE ST E GREEN STREET EAST E BORD GÁIS R T STREET ANGLESEA S ENERGY THEATRE E G UPPER ST FOWNES HANOVER QUAY T D E I properties properties properties T 9 16 E 4 R E R B E T PARLIAMENT STREET PARLIAMENT ERNE STREET LOWER R COLLEGE GREEN R S PIGEON HOUSE ROAD E T E S W N I N DAME STREET O T L R S E PEARSE STREET U COOK STREET sq ft sq ft sq ft V 238,064 186,340 EET G 186,145 TR A PEARSE D S U ON T B A GRAND CANAL IVER E SUFFOLK STREET MACKEN STREET T T STREET L TRINITY COLLEGE THORNCASTLE STREET O N E S I E BRIDGEFOOT STREET R W T LORD EDWARD STREET S STATION W GRAND CANAL QUAY CAMBRIDGE ROAD E R 36 tenants 86 tenants 10 tenants S D O N U A T T H PEARSE STREET S HIGH STREET G R E EXCHEQUER STREET A WIC T KL NASSAU STREET DUBLIN CASTLE O G W S E T RE WESTLAND ROW RIVER DODDER RIVER THO O ET MAS R GRAND CANAL BRIDGE G STREET BOYNE STREET E ’ S LEINSTER STREET SOUTH S T R E OLN PLACE E NC T I L RINGSEND ROAD RINGSEND CUMBERLAND STREET SOUTH RAINSFORD STREET SHIP STREET GREAT DUKE STREET ERNE STREET UPPER PARK TOP 5 HOLDINGS HANBURY LANE KEY FACTS SETANTA PLACE ROSS ROAD FITWILLIAM QUAY CLARE STREET PER T UP BRIDE ROAD EE R GRAFTON STREET FREDERICK STREET SOUTH T MERRION ST LWR S THOMAS COURT THOMAS N CLARENDON STREET SOUTH DOCK STREET EARL STREET SOUTH E ANNE STREET SOUTH MOLESWORTH ST H SOUTH LOTTS RD P HOGAN PLACE GRAND CANAL QUAY E SOUTH WILLIAM STREET SHELBOURNE T S €14.3m STREET BRIDE MERRION SQUARE NORTH PARK NICHOLAS STREET NICHOLAS FRANCIS STREET FRANCIS MEATH PLACE MEATH STREET MEATH Total rent - 1 year LEINSTER BULL ALLEY STREET GOLDEN LANE HOLLES STREET CARMANS HALL HOUSE DERMOT OHURLE AENUE GORDON STREET KILDARE STREET Nutgrove S.C. 15% E AN GAEITY L MERRION SQUARE WEST NE BARROW STREET BO THEATRE MERRION W 20 on Hatch 14% ST ATRICKS RO R SQUARE GRATTAN STREET A PARK MOUNT STREET LOWER GRAND M BRAITHWAITE STREET THE COOMBE MERCER ST LOWER CANAL DOCK Ferry House 9% MERRION SQUARE SOUTH 610K ST STEHENS GREEN NORTH STATION AUNGIER STREET SUMMER STREET SUMMER PETER STREET YORK STREET PATRICK STREET Treasury Building 8% STREET ARDEE Total square feet SHELBOURNE HOTEL 8/34 Percy Place 7% VE STEHENS LACE RS CH MERRION SQUARE EAST O JOHN STREET SOUTH YL ST LUKES AENUE MERRION ROW FITZWILLIAM LANE E P S LACE BRIDE STREET T Balance of Portfolio 47% KE EP VIN HE STR N’S EET BISHOP STREET LA UPPER ST STEHENS NE LONDONBRIDGE ROAD GREEN HUME STREET 3.0% MOUNT STREET UPPER MERCER ST UPPER ST MERCER OERS CT H BATH AVENUE BAGGOT STREET LOWER LANSDOWNE HALL ET NEW MARKET T RE Vacancy by value U of the Fund HILL REDMONDS NEW ROW S ST RK O KE O S VI CUFFE STREET C N STREET LOWER T E CRANMER LANE E CHAMBER STREET R ELY PLACE T S ST STEHENS GREEN SOUTH MILL STREET W E FITZWILLIAM STREET LOWER HAVELOCK TERRACE N JAMES STREET EAST HADDINGTON ROAD PERCY PLACE ST STEHENS GREEN EAST WEXFORD STREET WEXFORD NEW BRIDE STREET BRIDE NEW E OSCAR SQUARE LANSDOWNE PARK C A MONTAGUE ST R R E T FITZWILLIAM SQ NORTH D CAMDEN ROW L A BROWN STREET S W PETTY LANE S LONG LANE O ST THOMAS ROAD BLACKPITTS R E W FITZWILLIAM O NEWBRIDGE AVENUE L FITZWILLIAM SQ SOUTH HERBERT PLACE SHELBOURNE ROAD NORTHUMBERLAND ROAD FITZWILLIAM SQ WEST SQUARE T IVEAGH E PERCY PLACE SANDYMOUNT ROAD PLEASANTS STREET E AVIVA STADIUM R GARDENS T FITZWILLIAM STREET UPPER S LAD LANE EBENEZER TERRACE R N E E PEMBROKE ROW LANSDOWNE W D LEESON ST LOWER S O M L ROAD STATION T A T T DONORE AVENUE I E C P E K R CLARENCE MANGAN ROAD C T A S L L EASTMORELAND LANE B I S EARLSFORT TERRACE LANSDOWNE ROAD S A R ODONOAN ROAD B N HERBERT ROAD A ST MARS ROAD L HATCH STREET UPPER K C AR VENUE LOMBARD STREET W GRANTHAM STREET CUMBERLAND ROAD P LE A EY VIL N N R RUTLEDGE TERRACE E WILTON PLACE RE A G PEMBROKE GARDENS F ARNOTT STREET ARNOTT GILBERT ROAD BAGGOT LANE SHELBOURNE AVENUE TRITONVILE ROAD WILTON TERRACE BURLINGTON ROAD HEYTESBURY STREET HEYTESBURY MESPIL ROAD LANSDOWNE ROAD LAD LANE UPPER MERTON AVENUE ADELAIDE ROAD PEMBROKE ROAD EMORVILLE AVENUE EMORVILLE SERPENTINE ROAD All data correct as at 31 March 2018 RAYMOND STREET CRAMPTON AVENUE EMOR STREET EMOR ST ALBIANS ROAD CARLISLE STREET CARLISLE Source: J&E Davy unless otherwise stated DUFFERIN AVENUE SOUTH CIRCULAR ROAD WATERLOO RD SOUTH CIRCULAR ROAD LENNOX STREET 2 DAVY IRISH PROPERTY FUND GRAND PARADE BURLINGTON ROAD VICTORIA STREET VICTORIA ELGIN ROAD CLANBRASSIL STREET UPPER LONGWOOD AVENUE LONGWOOD BLOOMFIELD AVENUE BLOOMFIELD

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