12 - 14 College Green, Dublin 2
12 - 14 Location College Green, Dublin 2 Exceptional Commercial Investment For Sale by Public Tender (unless previously sold) On Thursday 29th November 2018 at 12 noon
- Occupying a Landmark Corner Location opposite Central Plaza, College Green and Trinity College - Centrally Positioned within Dublin’s Prime Retail, Restaurant and Office Quarter - Moments from Grafton Street, South William Street and Temple Bar - Excellent Opportunity for Asset Management & Rental Growth - Currently Producing €361,000 pax - 100% Occupancy with Diverse Tenancy Mix - Freehold Title - Tenants Not Affected
This iconic building occupies an Guinness Storehouse, Christchurch enviable position on the corner and Trinity College. of College Green, Dame Street and Trinity Street in the heart of College Green and Dame Street Dublin 2. are internationally known Dublin landmarks that are home to a College Green is a prime City selection of quality bars, restaurants Centre location and is on the and retail stores in addition to a main pedestrian route linking number of high-profile Banks and Dublin’s two prime shopping corporate offices. districts; Grafton Street & Henry Street. This landmark thoroughfare The area is renowned for its has benefited from substantial historical architecture and the recent investment and the area’s streetscape is complemented by profile will be raised further the grandeur or Trinity College with the imminent completion of and the former House of Lords & Central Plaza and the proposed Bank of Ireland, whilst many of pedestrianisation of Temple Bar the adjoining Protected Structures and the Drury Street quarter. have been occupied by high-end international retail brands such as It is also positioned on the tourist Abercrombie & Fitch, H&M, Dubarry trail route to Dublin Castle, and Starbucks, all located nearby. Description
No 12 – 14 College Green rental growth upon expiration of Zoning comprises a six-storey over the various leases. basement landmark which The property is zoned Z5 “to extends to a total floor area of The upper floors benefit from consolidate and facilitate the C. 1,032 Sq M (11,108 Sq Ft). The separate access off College development of the central building is occupied by a diverse Green and comprise five levels of area, and to identify, reinforce, mix of tenants and includes office accommodation in total, strengthen and protect its civic shops and café at street level, with access to these levels via a design character and dignity “ with offices on the upper floors. six person passenger lift. For the avoidance of doubt this is The building is fully let, an investment sale and therefore however a number of tenancies tenants are not affected. are due to expire in the near future which presents an excellent opportunity for Asset Management and reversionary Central Plaza, Dame Street
Grafton Street
Clarendon Street Nassau Street
Wicklow St William Street S.
Dury Street Su olk St
Trinity College Trinity Street Dublin Castle College Green
Dame Street eorges Street G City Hall Central Plaza Olympia Christs Bank of Ireland Theatre Church Cathedral Townsend Temple Bar Street D’Olier Street Fleet Street
Ha’penny Bridge
Tara Street Li ey River
Abbey Street Capel Street Customs House Jervis Street
Main Line Train | DART Cross City Luas Green Line Luas Red Line O Connell St. Connell O
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NB Floor plans not to scale. For illustration purposes only
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THIRD FLOOR FOURTH FLOOR
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FIRST FLOOR SECOND FLOOR
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BASEMENT GROUND FLOOR Rental I Tenancy Schedule
Unit Location Floors Area Area Lease Start Lease Expiry Lease Rent Next Rent Break Sq. M. Sq. Ft. Date Date Per Annum Review Option
Keogh’s Cafe 1/2 Trinity Street Ground 54 580 01/12/1989 01/12/2024 €62,000 01/12/2019 No Basement 35 380
Pen Corner 12 College Green Ground 40 430 24/06/2018 23/06/2028 €75,000 24/06/2022 No Basement 56 605
Trinity News 13 College Green Ground 30 327 25/12/2014 25/12/2024 Y3/4 €37,500 25/12/2020 25/12/2021 Basement 37 398 Y5/6 €41,000
Visit Ireland Travel 14 College Green Ground 41 438 01/02/2013 01/02/2023 €41,000 01/02/2018 No Basement 31 333
Grafton Architects College Green First 162 1741 06/03/2014 05/03/2024 €25,992 06/03/2019 05/03/2020
SFSG College Green Second 56 600 01/07/2013 05/03/2024 €13,200 06/03/2019 05/03/2020
Grafton Architects College Green Second 65 700 01/05/2017 05/03/2024 €15,100 06/03/2019 05/03/2020
Sole Trader College Green Second 17 189 01/06/2017 30/05/2020 €4,080 N/a No
DTA Architects College Green Third 140 1506 13/07/2016 08/07/2019 €26,425 N/a No
Dame Street Chiropractic College Green Fourth 148 1598 25/02/2016 28/02/2019 €36,000 * N/a No
Mission PR College Green Fifth 45 480 2/04/2014 1 Year Rolling €8,400 * N/a No
Tropical Hype College Green Fifth 20 210 31/12/2017 1 Year Rolling €3,600 * N/a No
5th Floor Collective College Green Fifth 55 597 13/01/2015 1 Year Rolling €12,600 * N/a No
Total 1,032 11,112 €360,897p.a.
* Includes Rates, Landlords Insurance and Service Charges
Asset Management Rates This sale offers the purchaser a unique opportunity Full details pertaining to Dublin City Council Rates are to actively manage this prime City Centre asset. available in the Dataroom detailed below. The timing of the expiration of certain leases within the building offers significant potential to improve Price and increase asset value through refurbishment We are seeking offers in excess €6.5 million. programmes and reallocation of space and accommodation throughout the various floors. Floor Areas Intending purchasers are advised to verify all details VAT including floor areas and to note the disclaimer below. We are advised that VAT will not be applicable in the sale of this property. Tender procedure Tender documents are available through the Solicitors BER having the carriage of the sale. Ber exempt. Completed tenders should be returned to Kane Tuohy Solicitors (for the attention of Ms. Vicky Pigot) no later Service Charge than 12.00 noon on Thursday 29th November 2018. The There is a Service Charge collected from the office envelopes should be clearly marked: Tender – College occupiers to cover the maintenance of the Common Green. Areas.
Title We understand the property is Freehold. Viewing: Strictly and only by prior appointment with Sole Selling Agents
Further Information: See our website or contact Sole Selling Agents
Data Room: Further detailed information is available on our dataroom: dataroom.lsh.ie/CollegeGreen
Lambert Smith Hampton, Nigel Kingston, 86-88 Leeson Street Upper, T: +353 (0)1 673 1400 Dublin 2, D02 A668 E: [email protected]
Web: lsh.ie
Solicitors Kane Tuohy Solicitors (FAO: Ms Vicky Pigot) The Malt House North, Grand Canal Quay, Dublin 2, D02 R239
T: +353 1 672 2233 Fax: +353 1 678 6033 E: [email protected]
Lambert Smith Hampton for the vendors or lessors of this property whose agents they are, give notice that: 1) The particulars set out as a general outline for the guidance of intending purchasers, and do not constitute part of an offer or contract. 2) All descriptions, dimensions, areas, uses, references to condition, and necessary permission for use and occupation, and other details are given in good faith, and are believed to be correct, however they are not warranted and intending purchasers should not rely on them as statement of fact but must satisfy themselves by inspection or otherwise as to the correctness of each one of them.
Psra No 1451 Design: qbf.ie