Bank of Ireland

Bank of Ireland, Abbey Square, Enniscorthy, AbbeyCo. Wexford Square EnniscorthyInvestment Property For Sale by Private Treaty Co.(Tenant NotWexford Affected)

Investment Property For Sale by Private Treaty (Tenant Not Affected) 4 4 Bank of Ireland 7 1 1 R N

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Enniscorthy and hinterland is a strong arable farming Location business location. Co. Wexford and Enniscorthy in particular Bank of Ireland Enniscorthy occupies a high profile location enjoys strong tourism annually, with recent hotel expansions in the centre of the town on Abbey Square and opposite the completing to cater for demand. Post Office. The locality provides for an extensive range of Enniscorthy will benefit immensely from the recently opened amenities and services. Neighbouring occupiers include extension of the M11 motorway, providing a bypass for €uroGIANT, Credit Union and Post Office. Enniscorthy town relieving heavy traffic congestion on the East Enniscorthy could be described as a busy market town and the side, while also giving the town direct access to the motorway second largest settlement in the county after Wexford Town network reducing driving times to Dublin. and according to last census 2016, the town has a population The town will also benefit from a Western relief road of 11,381 with the extended Enniscorthy rural hinterland circumventing the town on the West side linking the M11 (electoral area) encompassing some 35,801 persons. motorway to the N30 New Ross route. Furthermore, the town It is situated on the River Slaney and the N11 Road (currently will also benefit from the imminent work on Enniscorthy Town of new modern office buildings, with construction due to start Dublin to Rosslare route) which bisects the town and the N30 flood relief scheme. in 2020. connects the town to New Ross and Waterford to the West. Enniscorthy is a growing commercial hub set to benefit by Opus Fund Services, an award winning global fund Enniscorthy also has a railway station, which is on the Dublin- the new infrastructure and with an exciting future due to administrator has announced it plans to open an office in Rosslare Line and an excellent national bus route service. Enniscorthy Technology Park, a new commercial development Ireland, locating in Enniscorthy Technology Park and creating It is located approximately 24km north west of Wexford Town, site of 15.5 hectares (38 acres) in close proximity to the town 100 jobs over five years. 126km south of Dublin and 40km north east of Waterford City. centre. The business park is expected to deliver 100,000 sq ft Bank of Ireland Abbey Square Enniscorthy Co. Wexford Tenancy The subject Property is let to The Governor & Company of the Bank of Ireland on a 25 Year full repairing and insuring (FRI) lease from the 1st July 2007 at a current rent of €124,074 per annum. The lease is subject to five yearly upward only rent reviews.

WAU LT The investment opportunity offers an attractive term certain of 11.8 years to expiry.

Title Freehold.

Description The property comprises a three storey detached building of traditional construction with a modern single storey extension to the rear. A small car park is located to the side of the building providing staff and customer car parking.

Internally, the property comprises a bright, open plan banking hall with offices finished with a modern specification. There are various original building features throughout. The upper floors provide for office accommodation.

Floor Floor Area (Sq M) NIA Floor Area (Sq Ft) NIA Description Ground 316.14 3,403 Banking Hall / Offices First 87.88 946 Offices Second 76.27 821 Offices / Stores 480.29 5,170 Bank of Ireland Abbey Square Covenant Enniscorthy Co. Wexford Bank of Ireland Bank of Ireland was established in 1783 • New lending of 5.8bn in H1 2020 and is a leading pillar bank in the Republic • Strong capital position with fully loaded of Ireland. The bank group offers a diverse Common array of services including retail, insurance, • Equity Tier 1 (CET1 ratio) of 13.6% corporate and commercial and is one of the (comfortably in excess of the 13% guidance Country’s largest employers with over 10,400 for minimum capital requirements). employees (Aug 2020). Bank of Ireland • Cost reduction of approx. €27m (3%) in H1 maintains an extremely strong domestic 2020 vs H1 2019 market position as a predominant retail and commercial banking institution in Ireland with Source: BOI June 2020 Interim Results its shares listed on the main markets of the Irish Stock Exchange and the London Stock Exchange.

Irish Investment Market The Irish economy comes off a backdrop of several years of sustainable growth coupled with record levels of commercial real estate investment transactions, until the global pandemic impacted Irish society. As anticipated, the market is adapting to the new reality with demand for secure long income investment properties. Bank of Ireland Abbey Square Enniscorthy Inspections Co. Wexford Strictly by appointment from joint sales agents.

Planning The property is located within an area zoned ‘Town Centre’ in the Enniscorthy Town & Environs Local Area Plan 2008 – 2014. It is also listed as a Protected Structure.

PRICE On application.

BER Exempt.

Contacts Solicitor Damien McCaffrey Barty O’Connor Anne Doyle [email protected] [email protected] [email protected] T +353 1 661 1233 T +353 (0)53 9377147 T +353 (0)1 4180600

BNP Paribas Real Estate Ireland DNG O’Connor & O’Connor Beauchamps 20 Merrion Road, Ballsbridge Main Street, Bunclody, Co. Wexford Riverside Two, Sir John Rogerson’s Quay, Dublin 4, D04 C9E2 www.dngoconnorandoconnor.ie Dublin 2, D02 KV60 realestate.bnpparibas.ie PSRA No: 001161 www.beauchamps.ie PSRA No: 002702

DISCLAIMER: BNP Paribas Real Estate and DNG O’Connor & O’Connor give notice that these particulars are set out for general outline only, for the guidance of intending purchasers and do not constitute, nor constitute part of an offer or contract. All descriptions, dimensions, references to condition and other details are given without responsibility and any intending purchasers should not rely on them as statements or representations of fact, but must satisfy themselves or otherwise as to the correctness of each of them. All floor areas are approximate. September 2020. Designed and produced by Creativeworld. Tel +353 1 447 0553.