FOR SALE prime inVeStment let to bank of ireland on a long lease

INVESTMENT SALE  TENANT NOT AFFECTED.

priorSgate , 24

Secure retail investment - 18 years unexpired lease current rent €357,000 per annum Fixed rent increases of 15% every 5 years Unique Investment Opportunity

I Secure commercial investment I Let to Bank of Ireland on a 25-year lease, with c.18 years remaining. I The current rent is €357,000 per annum. I Five year upward only rent reviews with minimum 15% increases. I Full repairing & insuring lease with no break options. I High yielding easily managed investment.

PROPERTY DESCRIPTION Priorsgate is a modern mixed use development which was constructed in 2007 by P. Elliott & Co. to a high standard. It comprises a total of 198 apartments together with ground floor commercial accommodation and basement car parking.

The commercial element comprises a number of units, which are primarily let to Bank of Ireland, Spar and Unicare Pharmacy. The subject investment opportunity comprises a ground floor retail banking hall, forming part of the Priorsgate development, located in a high profile position at the junction of Main Street and Greenhills Road and benefits from extensive street frontage.

Banking Hall & offices 760 sq.m (8,180 sq.ft) The subject property comprises a ground floor banking hall and offices of approximately

Basement car parking 12 spaces 760 sq.m. (8,180 sq.ft.) along with 12 basement car spaces. An exceptional property in the heart of Tallaght Village NOTABLE NEARBY LANDMARKS

The subject property is located in Tallaght adjacent to the junction I Institute of Technology Tallaght of Greenhills Road and Main Street. Tallaght is an established c. 3,700 students & 400 staff / approx. 400 metres residential and commercial location with a population of 71,467 The Square Shopping Centre (2011 census), Tallaght is the largest town in South County Dublin I Over 100 tenants & average c. 220,000 visitors per week and the third largest metropolitan area in Ireland after Dublin City approx. 850 metres Centre and Cork. The subject property is located on the high profile corner of Greenhills Road and Main Street Tallaght, adjacent to the I Tallaght Hospital N81 Tallaght bypass. c. 2,500 staff – approx. 1.3 km

The location is also within the catchment (c.1km) of the following NEARBY TRANSPORT FACILITIES industrial estates, which host hundreds of businesses and thousands of employees: I N81 Tallaght Bypass I Cookstown Industrial Estate Approx. 100 metres

I Broomhill Industrial Estate I Tallaght Stop Direct link to City Centre & IFSC – approx. 1.2 km I Tallaght Industrial Estate I M50 Motorway I Hibernian Industrial Estate Approx. 1.8 km

I Belgard Road

Tenancy

Tenant Bank of Ireland Ltd Term 25 years from 22nd October 2007, with no break options Current rent €357,000 per annum Unexpired term 18 years unexpired lease term Rent reviews Every 5 years on an upward only basis. To higher of open market rent or 115% of passing rent.

Full repairing & insuring lease. Repairs There is a service charge provision within the lease which the tenant is liable for.

The Tenant – Bank of Ireland Bank of Ireland is a diversified banking and financial services group established in 1783 by Royal Charter. It is regarded as one of the pillar banks in the Republic of Ireland. The company is head quartered in Dublin and has a listing on the Irish Stock Exchange (ISEQ), with a market capitalisation of €9.4 billion (August 2014). The company recorded €399 million in profit before tax in the first 6 months of 2014. As at the end of June 2014 the company had c. €75 billion of customer deposits; and staff numbers of 11,386. Terms/Title The subject property has a long leasehold title and is for sale by private treaty. Capital Gains Provision

If a property is purchased before the end of 2014 and held for at least seven years, the capital gain attributable to that seven year holding period will be exempt from Capital Gains Tax (CGT).We recommend that interested parties satisfy themselves in relation to all taxation matters, including CGT.

BER Ratings

BER Rating: C3 BER No: 800308710 Energy Performance Indicator: 397.8 kWh/m2/yr 1.37 T Y M O N R O BELGARD A MAY B D E R R Y R O AD

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Viewing Strictly by prior appointment withthe Sole Selling agent www.hookemacdonald.ie www.asset-management.ie01 631 8403 For more information contact: 118 Lower Baggot Street, Dublin 2. Fax (01) 67 66 340 Email: [email protected] Conditions to be noted: These particulars do not constitute an offer or contract or any part thereof and none of the 086Enda 255 Moore 6445 statements contained in the particulars as to the property is to be relied on as a statement or representation of fact. The vendor does not make or give, the Agent(s) or is its staff authorised to make or give any representation or warranty in [email protected] respect of this property. 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 Gavin Hanlon as to the correctness of each of them. In the event of any inconsistency between these particulars and the contract of 086 238 1388 sale, the latter shall prevail. The terms, Vendor and Purchaser, where the context requires shall be deemed to refer to [email protected] Lessor and Lessee and Landlord and Tenant respectively. Please note that this brochure does not constitute a note or memorandum in writing for the purposes of Section 51 of the Land and Conveyancing Law ReformAct 2009.