FOR SALE BY PRIVATE TREATY RETAIL INVESTMENT OPPORTUNITY INCORPORATING DEVELOPMENT SITE
(TENANTS NOT AFFECTED)
NAVAN ROAD, DUBLIN 7
www.maple-centre.com
C3 B3 INVESTMENT HIGHLIGHTS
Strong profile to N3 and adjacent Tesco Superstore Excellent road network and public transport links Opportunity to increase rental income Development site approx. 0.2 acres with District Centre - Z4 zoning Strong tenant mix with Iceland, EuroGiant and McDonalds Excess 75 surface parking spaces Guide price excess €7.1m providing NIY of 7% after standard purchasers costs of 9.96% NAVAN ROAD, DUBLIN 7 Prominent 1KM frontage from TU Dublin’s Grangegorman 555,023 to N3 Campus €Current passing rent per annum 7RETAIL Excellent road and public Net UNITS transport infrastructure in Initial Tenant mix the vicinity Yield includes: 7% McDonalds, O’Briens, Iceland, DEVELOPMENT EuroGiant, 7.87 yrs. 6.9 yrs. Maple Pharmacy, SITE WITH DISTRICT Millenium Chinese WAULT TO WAULT TO & one vacant unit CENTRE ZONING LEASE EXPIRY BREAK OPTION d a Rd sbri lena's th d
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Bro a LOCATION Grafton St e Me re d P The Liberties rrion Sq M aw R t North d Rd u et D ts St James’s ildar Emm Aungier K Merrion Sq Grand Hospital Mou Lot Bat Kilmainham Sout A Canal Dockarrow St h rdee South nt S Moore R Circular B St h Rd St St Stephen’s t Lo The Maple Centre fronts onto area with excellent amenities including Approximately 700m south of the Maple and on completionwe will accommodateSouth t Ba M r Sean CHICORE ree Cuffe Green ggot St ount St Low Upper Ave
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Slie or c erto Bag oad elb Irishtown d t S h e Sout S Heytesbury St n R Northu ou Ro o u e L got vena C n ircular h Ave w ower bert Road gto rne rt S S ad approximately 3km north west of Davitt R McKee Barracks, situated on Blackhorse and 600 staff St arrivingce in September d andy Dolph d Ne Her ddin Pla mberland R Rd Earlsfort Ha mon Rd mon Terrac
t Leeson d m R in R ille o Hatch St v unt oa St Mary's R Lansdowne Dublin City Centre. The extension of the Luas Greend Line Avenue. Immediately adjacent to Upptheer 2020. d Rd on St Lower oa Rd d Stran Pem Trit Charle Mespil R broke Landsdowne Rd South Circu Ave Rd to Broombridge, just 20 minutes’ walk Maple CentreDufferin is Tesco Superstore, Cabra d R outh lar Rd S r Rd S mont t L bourne SANDYMOUNT Rd d ula S ee Gil Circ d Parade t U el Pa h so R rnell ford Gran pp S The Navan Road links the north west from the Maple Centre has increased Library Rd and Intreo SocialPORTOBELLO WelfareGrand Centre. Canal Togethern Sussex with their existing Campus in d er Canal Rd Rd DOLPHIN'S BARN Grove Road DartmouthRd suburbs of Stoneybatter, Cabra, the accessibility of thed area which BlanchardstownWaterloo Road and Tallaght this will Le Sandymount St U e gher Rd son BALLSBRIDGE Crumlin Roa pper t Clo RANELAGH un Castleknock and Blanchardstown. was already very well served by Technical University DublinRATHMINES (TU Dublin) be the heart of the new Technologicalk Appian Rd RDS e d Way SandymoAv Anglesea Roa Moun Clogher d Ave Mo bert Par ower This is a long established residential Dublin Bus. is located 1.1km from the Maple Centretp University Dublin. U Her ss R H le reh Sun d L p R asa
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TECHNOLOGY UNIVERSITY DUBLIN
TO CITY CENTRE
MARLET CONSTRUCTING 320 APARTMENTS CABRA ROAD OLD CABRA ROAD
TESCO SUPERSTORE RATOATH ROAD
NAVAN ROAD
CABRA LIBRARY
MLS PARK MOTORS INTREO CENTRE, NAVAN ROAD DESCRIPTION
The Maple Centre is a modern retail Road. Module surveyors have centre constructed circa 1999. measured the centre on a net and The Centre comprises 7 retail units gross internal floor area basis. The with a surface carparking area total area measures 2,544.3 sq.m for excess 75 cars and it enjoys (27,386 sq.ft) GIA and 2,260.3 significant frontage to the Navan sq.m (24,330 sq.ft) NIA.
TENANCY SCHEDULE
Lease Start Term Lease Expiration Next Tenant Next Review Current Annual Rent Measured Floor Measured Floor Demise Tenant Date Years Date Break Option Date Excluding VAT Area GIA (Sq. ft) Area GIA (Sq. m)
Unit 1 McDonalds Restaurants of Ireland Limited 01/10/1998 25 30/09/2023 None €130,000 5,911 549.2
Unit 2* Euro General Retail Limited 10/10/2017 15 09/10/2032 09/10/2024 10/10/2024 €67,500 3,104 228.4
Unit 3 The Maple Pharmacy Limited 09/12/2002 25 08/12/2027 None 09/12/2022 €105,000 5,907 548.8
Unit 4 Iceland Stores Ireland Limited 01/01/2015 21 31/12/2035 None 01/01/2021 €97,000 8,169 758.9
Unit 5 Vacant - Rental Underwrite €50,000 2,017 187.4
Unit 6 O’Briens Fine Wines 02/09/1998 25 01/09/2023 None €53,000 1,223 113.6
Unit 7 Wai Bun Mo 05/07/2004 25 04/07/2029 None 01/04/2024 €43,000 1,055 98
Unit 8 Allied Irish Banks, PLC 02/12/1998 25 01/12/2023 None €9,523
Total €550,023 27,386 2,544.3
*Unit 2. Rent €67,500 years 3 - 4 and €70,000 years 5 - 6. VAT charged on rent - unit 2 & unit 4.
INCOME PROFILE
McDonalds 23% €9,523 €43,000 €130,000 The Maple Pharmacy 19% 2% €53,000 8% Iceland 17% 10% 23% EuroGiant 12% 9% O’Briens 10% 12% €50,000 Vacant Underwrite 9% 17% €67,500 19% Millenium Chinese 8%
Allied Irish Banks Plc 2% €97,000 €105,000 MAPLE VILLAGE CENTRE SITE LAYOUT
NAVAN ROAD
BUS STOP
MC DONALDS
DUNARD ROAD
EUROGIANT
LIBRARY
MAPLE PHARMACY
ATM
VACANT ICELAND O’BRIEN’S
COMMUNICATIONS MAST MILLENIUM CHINESE
75 CAR PARKING TELECOM SPACES FUTURE DEVELOPMENT SITE APPROX. 0.2 ACRES
DEPARTMENT OF SOCIAL WELFARE OFFICES
TESCO ENTRANCE
TESCO ENTRANCE
TESCO FUTURE DEVELOPMENT SITE PLANNING AND ZONING
The site extends to approx 0.2 acres and is zoned “Z4 - District Centre” zoning objective which seeks “to provide and improve mixed-services facilities” in the 2016-2022 City Development Plan.
John Spain Associates (JSA) have undertaken a Planning Report on the site to the rear of the Maple Centre and this is available on www.maple-centre.com.
An extract from this report is stated below but should be read in the context of the entire report:
The Development Plan indicates commercial and residential development of up to 16m within outer city locations to be acceptable. However, the Urban Development & Building Height Guidelines effectively supersede the content of the Development Plan in terms of building height.
Achieving greater heights and densities on the subject site will be subject to meeting the assessment criteria as set out in SPPR 3 of the Urban Development and Height Guidelines 2018, including assessing visual impact and impact on neighbours, designing to appropriate amenity standards for future residents, and addressing the immediate content of the service area of the retail units and commercial unit.
In our opinion, subject to addressing these points, a height in the range of 5 to 7 storeys may be considered to be appropriate on the site. NAVAN ROAD, DUBLIN 7
VIEWING BY APPOINTMENT WITH SOLE AGENT TWM
Patricia Ward T: + 353 (0) 1 611 0324 E: [email protected] Title Solicitors Freehold Joan Maclean Mark Kelly VAT Partner T: + 353 (0) 1 611 0328 The sale of the property subject to letting(s) may be covered by AMOSS Solicitors E: [email protected] Transfer of Business relief depending on the VAT status of the purchaser. Warrington House, Further information will be provided to the purchaser. Mount Street Crescent, Dublin 2, D02 R256. Dataroom www.maple-centre.com T: +353 1 212 0400 E: [email protected] Proposal W: www.amoss.ie 4/5 Dawson Street, Offers are invited excess €7.1m which reflects a net initial yield of 7% Dublin 2, D02 FH72. (assuming standard purchasers costs of 9.96% and vendor underwrite) www.twmproperty.ie
BER C3 B3 PSRA No: 001835
TWM for themselves and for the vendor/lessor of the property whose agents they are, give notice that: 1. These particulars do not constitute an offer or contract or any part thereof and none of the statements contained in the particulars as to the property are 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 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 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 between these particulars and the contract of sale, the latter shall prevail. 5. VAT may be payable on the purchase price.