24 SUITES IN THE CLAYTON HOTEL CARDIFF LANE SIR JOHN ROGERSON’S QUAY DUBLIN 2

INVESTMENT OPPORTUNITY 24 SUITES IN THE CLAYTON HOTEL

INVESTMENT HIGHLIGHTS

• Opportunity to acquire the long leasehold interest in 24 suites comprising 62 bedrooms in the 4 star Clayton Hotel Cardiff Lane.

• Rental income of €467,200 per annum.

• All leases are F.R.I. with no break options and upward only rent reviews (next review in January 2018). The leases have a WAULT of approximately 24 years.

• The income is secured by a proven tenant covenant from Hanford Commercial Limited, a subsidiary of Dalata Hotel Group plc and is underpinned by a highly profitable hotel operation.

• The entire 304 bedroom hotel occupies a prime position in the heart of Dublin’s South Docks allowing it to benefit from both strong corporate and leisure business.

• Opportunity to significantly increase the rental income through review.

CARDIFF LANE SIR JOHN ROGERSON’S QUAY DUBLIN 2

2 1SJRQ

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SPENCER DOCK AN POST DUBLIN SITE LANDINGS

HANOVER PLAZA

BOLAND’S MILLS

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E URMASTE E D E R P L R R LACE A T E DISTANCE TOLL S TRANSPORT LINKS E E T LO T RO N S R CONNOLLY A A 3 DOCKLANDS STATION E P W Mayor Square Luas Stop M 7 min E A R R BUSARAS S L HERRIFF ST B REET Spencer Dock Luas Stop 8 min O O ROU 7 ’C DUBLIN O Docklands Train Station 8 minNN G MA MAYOR SQUARE H S YOR S T LOWER E

L T L BUSARAS 1 MAY SPENCER DOCK J O Pearse Street DART Station S R ST U 10 min PPE D E R T

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VI 2 DOCKLANDS IFSC D S ST Tara Street DART Station ABBEY STREET A 10 min S RO

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E L RO R E CONVENTION POINT VILLAGE L O Grand CanalT Dock DART C A 11 min AY USTOM HO DUBLIN BIKES F C EN QU USE QUAY ED CENTRE D UBLIN LE A T W

S PE ST DUBLIN A Busaras A N E L ST JERVIS STREET 13 min ORTH W R I ALL C AY V E R QUAY PORT LK ES QU T L I F F R A E 3 AR ENA FOUR COURTS GEORG E Y SAMUE DUBLIN BIKES E S W E G L OR EORGE E Connolly Station L 14 min R 5 TARA STREET S QUAY BECKET T HE T T AC D B T BR THE DUBLIN ’O IDG E E

A S Y T L E A T U I R E CI E R TY E R S A QUA N Q T Y

T O R ST D S A T N R S S

S DOCKLANDS A E T N ST L E E T TOW O E NE SE E ND STREET O

M T T R R ET STREE SIR J FLE ST OH GH N RO T MO I GERSO T E NS Q SA L D U UNDERWENT S A ME Z AY S S R ER L PE I A E N P A E E L RS N C A E ST B D R W D H T R T A R N R E W OV R E S ER S L T TR TEMPLE BAR EE O A HO I I T E A T A RSE F A ST F N S G AI H ST R ME SUBSTANTIAL O T E R E AS S E M N E R ISERY H N R E W IL E T L GR Y Y EEN S OR T E B T E K RO S E RE A DAME ST T LO AST AD T U H D ST AN REDEVELOPMENT T LO E OVER Q R Q UA N Y T W L A E S A E TRINIT Y B E A N E R M N

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G PEARSE STREET PE EXCHEQUE ARS C A R D E ST R STRE ET REET DUBLIN BIKES R O W

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OF THE CENTURY. G N AS R H S SAU ST E T P E R P EE T E T

U R P T U OLN LA P R NC CE PE ING I T S L E S END R N ST E Y R N OA E D O F A AD EN R GE RO T I R T A ID N S U BR T E F R T E EET A E

T L Q R R N S E T MO G A E LE E E S W N K R E ORT S D N ST T A C O R H C S E K ST T C ST T O A R The epicentre of this development has been E EET S R M D LEINSTER T W R K S W N

C A S S A I I RO E ST D V R R HOUSE LE R R

T L G the south docks and Grand Canal basin A G A E A O O B D R P H T L E D R I O E F D K E N ST R N A where the Clayton Hotel is located. R MERRION IA R D O D D E N ST E PE N ST ET P SQUARE A R 6 GRAND CANAL DOCK S RO STEPHEN’S GREEN T EE T T T T T U M A E O R O U L E N G R T S S T RE E The immediate vicinity is a new urban quarter N ST E N T LO R O F A I IT W R ZW ER E L BA R I ST E LL comprising modern office blocks, high quality GG IA OV L KEVI OT ST M M L L N ST STEPHEN’S A A R RE N R EET ET LO E N GREEN PE M residential developments, retail units, hotels, bars and WE P O A CUFFE STREET R UN C T U T ST E NUE E RE D BATH AVE restaurants. In addition, this is now one of the city’s R E T U N PPE A M ST R A I R primary cultural and entertainment areas with the Bord L L I G R E W Z B E W T A C E Gáis Energy Theatre, The Convention Centre Dublin, I GG A C F L A O T P L N T LO T ST R E Y P AD O AVIVA S TADIUM E H BE R R R R RC Aviva Stadium and 3Arena all close by. A N RO T L E E TO H RC E E HE P G E E ST T LO IN U S D M O K O AD H BE U N ST W

R E BRO R R T S M L R A E E T N E P The South Docks is established as the preferred high D T R quality office district for international corporate D E C A occupiers to base their EMEA headquarters in L

M P A I L Ireland, some of which include Accenture, BNY L I E D W C A Z A T R L RO I ER PI Mellon, Facebook, Google, HSBC and State Street. F ES ON T M ILT R ROAD W There are also a number of the larger law firms such SOUTH CIRCULA as Beauchamps, Matheson, McCann FitzGerald and William Fry clustered in the area.

36 WHY INVEST IN DUBLIN?

Only English speaking 2016 country in the Eurozone DEVELOPMENT IN which, coupled with 12.5% corporate tax rate, attracts THE DOCKLANDS significant Foreign Direct The Docklands is a premier business location. The south docks is the most sought after office location Fastest growing GDP growth in Unemployment rate has Investment (FDI), with an extremely low vacancy rate and four major office developments are currently under construction economy in the excess of 4.8% declined from 15.1% in totaling in excess of 650,000 sq.ft. The Clayton Cardiff lane is well positioned to capitalise on the planned OECD for the last anticipated in 2012 to 7.9% in 2016 particularly to Dublin development of the An Post site and possible redevelopment of 30 -32 Sir John Rodgersons Quay, with two years 2016 both sites adjacent to the Hotel.

DUBLIN HOTEL PERFORMANCE:

• Second highest occupancy in Europe in 2015 second only to London • ADR of €112 ranking Dublin 15th in Europe for ADR • Docklands hotels recorded 24% RevPAR growth YTD May 2016 • Limited new Hotel supply pipeline

8 TENANCY

Surveyed 1974 716992 717225 Revised 2014 Urban PLACE Map The occupational tenant at the Clayton Hotel Cardiff Lane is Hanford Levelled 1977 734304 734304 Commercial Limited a subsidiary of Dalata Hotel Group plc. This investment FLOORWarehouse PLANS opportunity is let under two lease types. 0.29 717108,734218 0.20

Admiral Brown Walk

0.94

24 Suites (62 bedrooms) have individual leases to Hanford Commercial Limited. Stairs Ropewalk Way

The rental figure varies depending on the number of bedrooms and the Suite floor area. Ramp 1:1000 See table below for full details. 3264-07

Stairs Whitaker Court No.2 Surveyed 1974 39 AREA NO. OF TENANT LEASE LEASE LEASE RENT RENTAL 716992 717225 Revised 2014 37 Stairs No.3 The Economic And Social Research Institute Urban PLACE Map BEDS TERM START EXPIRY REVIEW INCOME Levelled 1977 38 32 734304 31 THIRD 734304 24 Suites located on 3rd - 62 Hanford 34 years 10-Aug-06 10-Aug-40 01-Jan-18 €467,200 per Warehouse 35 36 FLOOR 5th floors in Original Hotel Commercial annum 717108,734218 Limited 1.20 0.29 33 0.20 Mhs 34 Stairs No.1

CARDIFF LANE

H ORIGINAL HOTEL NO. OF SUITES SIZE (SQ.FT) RENT PER SUITE RENTAL INCOME 0.43 Admiral Brown Walk 0.94 2 Bedroom Suites 10 603 -642 €15,000 €150,000 ROAD Stairs Ropewalk Way 3 Bedroom Suites 13 928 €22,600 €293,800 H 0.94 Ramp

The Ivory Building 1-29 Mhs 3 Bedroom Suites 1 959 €23,400 €23,400 An Post Sorting Oce 1:1000 3264-07 Total 24 €467,200 0.23 Stairs Whitaker Court No.2 Surveyed 1974 52 716992 717225

Revised 2014 50 Stairs No.3 The Economic And Social Research Institute Urban PLACE Map FOURTHHIBERNIAN H Levelled 1977 51 45 734304 Mh 44 734304 Warehouse FLOORH Mhs SUITE NO ROOMS RENT SUITE NO ROOMS RENT LS 48 49 43 ES Mh 42 0.57 0.29 717108,734218 31 2 15,000 40 3 22,600 1.20 LS 0.20 46 Mhs © Suirbhéireacht Ordanáis Éireann, 2015 32 3 22,600 41 2 15,000 47 Stairs No.1 41 40 © Ordnance Survey Ireland, 2015 Mhs Mhs 33 3 22,600 42 3 22,600 CARDIFF LANE

734132 734132 716992 THIRD FOURTH H 717225

Admiral Brown Walk 34 2 15,000 43 3 23,400 0 20 40 60 80 100 Metres 0.43 FLOOR FLOOR Plot Ref. No. 19697438_1_1 0.94 Scale:- 1:1,000

35 3 22,600 44 2 15,000 ROAD Scála:- 1:1,000 Plot Date 16-OCT-2015 Stairs Ropewalk Way 36 3 22,600 45 3 22,600 0 50 100 150 200 250 Feet 37 3 22,600 46 3 22,600 Ramp H 0.94

The Ivory Building 1-29 Mhs 1:1000 An Post Sorting Oce 38 2 15,000 47 2 15,000 3264-07 0.23 Stairs 39 2 15,000 48 3 22,600 Whitaker Court No.2

49 3 22,600 Stairs No.3 The Economic And Social Research Institute

FIFTHHIBERNIAN SUITE NO ROOMS RENT 50 3 22,600 H Mh FLOORH 51 2 15,000 53 3 22,600 LS Mhs

ES 54 2 15,000 52 2 15,000 1.20 Mh 0.57

LS Stairs No.1 Mhs © Suirbhéireacht Ordanáis Éireann, 2015 54 53 CARDIFF LANE © Ordnance Survey Ireland, 2015 FIFTH Mhs Mhs FLOOR H 734132 734132 716992 0.43 717225

0 20 40 60 80 100 Metres Plot Ref. No. 19697438_1_1 ROAD This investment opportunity offers a long term income with a WAULT of approx. 24 years. Scale:- 1:1,000 Scála:- 1:1,000 Plot Date 16-OCT-2015 10 All leases are full repairing and insuring leases with upward only rent reviews and no break options. 0 50 Please100 note150 these200 floor 250plansFeet are only for illustration purposes H 0.94

The Ivory Building 1-29 Mhs An Post Sorting Oce

0.23

H HIBERNIAN Mh H

LS Mhs

ES Mh 0.57

LS © Suirbhéireacht Ordanáis Éireann, 2015 © Ordnance Survey Ireland, 2015 Mhs Mhs

734132 734132 716992 717225

0 20 40 60 80 100 Metres Plot Ref. No. 19697438_1_1 Scale:- 1:1,000 Scála:- 1:1,000 Plot Date 16-OCT-2015 0 50 100 150 200 250 Feet TENURE The property is long leasehold (999 year lease commenced in 2005).

For the avoidance of doubt please note that the property will be sold subject to and with the benefit of the existing leases the tenant will be unaffected by the sale.

COVENANT The current tenant is Hanford Commercial Limited, a subsidiary of DHGL Limited and ultimate parent Dalata Hotel Group plc, listed on ESM/ AIM on 18th March 2014.

Dalata Hotel Group plc is Ireland’s largest hotel group with a market cap of approximately €750m.

Dalata Hotel Group plc has a strong Dun and Bradstreet rating (5A2) and currently operates 42 hotels with 20 of these owned.

312 HOTEL FACILITIES

The Clayton Hotel Cardiff Lane’s service offering is excellent with a range of The Clayton Hotel Cardiff Lane offers 5 dining options, meeting rooms and a well-equipped leisure club. modern meeting rooms fitted with the latest business technology. The meeting rooms vary in size with the largest catering for up to 50 FOOD & BEVERAGE delegate’s theatre style.

STIR Restaurant is popular as a pre theatre restaurant with Bord Gáis Energy Theatre goers and The property benefits from a modern leisure offers a more formal dining experience. centre with fully equipped gym, 22 metre pool, sauna and steam room. Vertigo Bar offers patrons a chic casual atmosphere suitable for a business meeting over lunch or pre theatre drinks. Both STIR Restaurant and Vertigo Bar can be booked for private events Please note the hotel facilities are not part accommodating for up to 170 guests. of this sale nor any rights over such facilities. Access and use of such facilities is for paying V Deli offers customers a Café like experience serving gourmet sandwiches and salads, a popular guests of the hotel. lunch time option with staff from the surrounding offices.

14 24 SUITES IN THE CLAYTON HOTEL CARDIFF LANE SIR JOHN ROGERSON’S QUAY, DUBLIN 2

CONTACTS & FURTHER INFORMATION

THE PROPOSAL SAVILLS IRELAND 33 Molesworth Street Offers are invited for the purchase of the long leasehold (999 year lease commenced Dublin 2 in 2005) interest in 62 bedrooms at the +353 1 618 1300 Clayton Hotel Cardiff Lane. Tom Barrett +353 1 618 1415 BER: C1 [email protected] VIEWING Domhnaill O’Sullivan Strictly by appointment through the sole +353 1 618 1364 selling agents, Savills Hotels & Leisure. [email protected] Under no circumstance should any direct approach be made to the hotel. Aaron Spring +353 1 618 1446 [email protected] FURTHER INFORMATION Interested parties may be given access Emmet Finnegan to a virtual data room upon signing a +353 1 618 1740 Non – Disclosure Agreement. [email protected]

Savills Ireland and the Vendor/Lessor give note that the particulars and information contained in this brochure do not form any part of any offer or contract and are for guidance only. The particulars, descriptions, dimensions, references to condition, permissions or licences for use or occupation, access and any other details, such as prices, rents or any other outgoings are for guidance only and are subject to change. Maps and plans are not to scale and measurements are approximate. Whilst care has been taken in the preparation of this brochure intending purchasers, Lessees or any third party should not rely on particulars and information contained in this brochure as statements of fact but must satisfy themselves as to the accuracy of details given to them. Neither Savills Ireland nor any of its employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and neither Savills Ireland nor any of its employees nor the vendor or lessor shall be liable for any loss suffered by an intending purchaser/Lessees or any third party arising from the particulars or information contained in this brochure. Prices quoted are exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchasers/lessees shall be liable for any VAT arising on the transaction. This brochure is issued 3by Savills Ireland on the understanding that any negotiations relating to the property are conducted through it.