FOR SALE BY PRIVATE TREATY is a bustling retail hub undergoing significant growth

M50

Tesco

Liffey Valley Shopping Centre

N4

Liffey Valley Retail Park CONTENTS

Executive Summary 6

Lot 3 Location 8

Lot 2 Accessibility 10

Liffey Valley Motor Showrooms Zoning & Town Planning 11

Lot 1 Lot 1 12

Lot 2 14

N4 Lot 3 16

Market Overview 18

Further Information 22 Clayton Hotel

2 3 STRONG GROWTH ACROSS LEADING INDICATORS

Ireland continues to record Population Aggregate household

the fastest rate of economic About 45,000 growing by around disposable income growth in the EU, at new jobs in the year growth of over June 2019 60,000 8.2% in 2018 persons per annum 5% per annum

WHY ?

CSO expects Dublin New dwellings Population currently population could completions rose by 28.4% of growing by Ireland’s population increase by almost lives in Dublin 1.8% per annum 31.9% by 2036 24% in 2018

RETAIL MARKET

Annual growth Highest growth recorded PRICE Prices of consumer in consumer in electrical, hardware DROP goods falling due to Retails rents spending averaging & furniture stores discounting, a shift toward increasing (associated with SAVE value brands and over the medium term 3% in 2018 housing market) the weaker pound

LIFFEY VALLEY

Close to Balgaddy- Shopping Centre & Lucan-Esker surrounding retail parks 10 million electoral population Clonburris Strategic undergoing significant Development Zone footfall per annum 32,236 expansion set to house additional people 20,000 people

TRANSPORT

BUS ROAD RAIL AIRPORT 2 minute 5 minute 30 minute walk 20 minute to /Fonthill walk drive to M50 Station drive

4 5 Grange Castle Business Park Fonthill Retail Park Clondalkin / Fonthill Train Station

Clayton Hotel Liffey Valley Retail Park Liffey Valley Motor Showroom

B&Q

Tesco

Liffey Valley Shopping Centre Lot 1 Lot 3

N4 Lot 2 M50

EXECUTIVE SUMMARY

Three superb commercial sites within the Liffey Valley retail hub

Zoned Major Retail Centre

Dublin City Centre Various Lot sizes from approximately 0.57-1.70 hectares (1.42 - 4.24 acres)

Excellent frontage to main Liffey Valley thoroughfares and the N4

Liffey Valley & environs undergoing significant expansion

6 7 Dun Na Si M2 Ardrums

Swords 5 2 Rathrone M1

2 Kilcloon M3 DUBLIN N2 AIRPORT Dunboyne Enfield 1 M4 4 4 3 LOCATION 4 M50 5 N32 Johnstown Bridge N3 Liffey Valley, and the sites are located just units. It is surrounded by retail parks and Ongar 2 off the junction of the M50 and N4, which outlets which provide synergy to the area Moyglare Hall 3 2 Beaumont Sutton is mid-way along the M50 at a convenient as destination retail.

Maynooth and busy area. Kilshanroe 6 N2 The surrounding suburbs are ever M50 The location is approximately 12km expanding, with the recent development Port Tunnel Clontarf Drumcondra west of Dublin City Centre between the of Adamstown in Lucan and the Fanagh M50 well established suburbs of Lucan and announcement of the Balgaddy- 7 N3 N1 M4 N2 . It is in close proximity to Clonburris Strategic Development Zone. 6 5 expansive residential suburbs such as This SDZ area is due to accommodate Lucan 3 1 7 4a 2 Castleknock, Clondalkin and Leixlip and is approximately 8,500 new homes and up N4 N4 4 Liffey Valley DUBLIN therefore home to a wealth of associated to 21,000 additional population and was Backweston Docklands The Greenhill R136 R113 N4 N1 amenities. formally adopted in June 2019. Derrinturn Adamstown Celbridge This location has become a significant There are a number of established Rathcoffey Adamstown N81 retail destination in Dublin, easily business parks nearby, which are home Railway Station Staplestown Clondalkin /Fonthill accessed by car and by whom to some significant employers. Grange Railway Station N11 Crumlin operate 16 routes to and from the area. Castle Business Park is located 3km

Clondalkin 1 from the subject property or less than a Donnybrook The shopping centre is one of Dublin’s 9 five-minute drive. This park is home Straffan N7 Milltown largest and has recently undergone a to Pfizer, Takeda Pharmaceuticals R113 10 significant expansion with the addition of and Cuisine de France. Pfizer employs Castledillon N81 2 Belgard space to provide more retail stores, a large M50 N31 approximately 3,000 staff in Dublin. The Cott cinema and extra restaurant and café Churchtown The property is also close to Park West 3 Blackwood Clane Blackrock Dun Business Park and Citywest Campus. 11 N11 Laoghaire Ardclough R136 Dundrum Allenwood N81 N7 N81 Ratfarnham Citywest 12 N31 Robertstown 13 14 M50 N11

N7 15 Kilmeage Clonagh

Cherrywood Allen 16 Carragh M11

17

Naas

5

Milltown Manor M50 Kilbride M7 Ballinagee

Blessington Mullacash Kildare M7 M7

Maddenstown M9 Ballymore Eustace Ballysax

8 9 N 4 THE KING’S M50 HOSPITAL SCHOOL

L U C A N O L E D R O O A D E G V H A N A 4 Junction 7 W I N E

R D

N N 4

A A D R O

H I L L T T O N

N CLAYTON HOTEL F

3 U 1 WOODFARM A 1 O

N R M ACRES Á L T L VOLKSWAGEN LIFFEY VALLEY S OM AN SHOPPING CENTRE

L1042 S ROAD ZONING & TOWN PLANNING

LIFFEY E F V Under the County Council Development Plan 2016-2022 Lots 1, 2 and 3 are all zoned Major Retail Centre with

E O R

H A U E T a stated objective “to protect, improve, and provide for the future development of a Major Retail Centre”. VALLEY N P N E E R T L D P V T H PARK A O A U S I

O L A range of uses are permissible under this zoning including “office less than 100 sq m”, garden centre, retail warehouse, N LIFFEY Y A L R

SMYTHS R D G L E C D E N motor sales outlet and hotel amongst other uses. Residential development is not permitted under this zoning.

L D A M F L N VALLEY A I TOYS R O R

F A O A N I H TESCO R D H

L T L R

S N L

O I T F R EURASIA H

T SUPERMARKET O

N F

S O G M50 L F R AV E ORT E E E NF LIFFEY VALLEY PALMERSTOWN B&Q N C O L RETAIL PARK MANOR N D C E U T R O A D R 8 3 K 3 C O L D C U T R O A D 3

1

1

R

ACCESSIBILITY LOT 2 LOT 1

Dublin Bus operates several routes through the area, with Clondalkin/ Fonthill Train Station is located within LOT 3 stops located on the Fonthill Road and the N4. The closest approximately 2.6 km and can be accessed on foot in Bus stop is within approximately 350m of the sites. approximately 30 minutes. This station provides commuter trains access to Dublin Pearse in the CBD in approximately The N4 can be reached in 3 minutes by car (approximately thirty minutes. Heuston Station can be reached within 1.7 km) and M50 can be reached within 5 minutes by car approximately fifteen minutes, where connecting trains and is (approximately 2.9 km) and the N7 in 12 minutes can be accessed for Cork, Galway and Limerick. (approximately 8.5 km) from the subject property. is within a 20 minute drive on the M50 northbound and is approximately 16.8 km from Liffey Valley.

BUS ROAD RAIL AIRPORT 2 minute walk 5 minute drive 30 minute walk to 20 minute drive to M50 Clondalkin/Fonthill Station

10 11 Lot 1 measures approximately LOT 1 1.70 hectares (4.24 acres) This property is specifically located north of the main Liffey Valley entrance road amongst a number of motor showrooms such as Toyota, Kia, Volkswagen, Opel and Nissan. It is bounded to the north directly by the N4, the south by a number of motor showrooms, the east by a vacant greenfield site and to the west by Toyota showroom.

The immediate area is home to a mix of commercial operators such as The Clayton Hotel, Volkswagen offices, Johnson & Johnson offices and Giraffe Childcare. The area has been recently N4 subject to new retail development with Killeen Motors site being developed as the new Toyota showrooms and more recently a development of four drive-thru food facilities directly adjacent to the Volkswagen showroom.

Lots 1 & 2 could be interconnected. Lot 1 measures approximately 1.70 hectares (4.24 acres) and is regular in shape with relatively flat topography. It has approximately 155 m frontage to the secondary road between Toyota and Giraffe Childcare and also approximately 164 m frontage directly on to the N4 at its northern boundary.

This property was previously zoned for residential in the 2008 Local Area Plan. This has now been changed to ‘Major Retail Centre’ under the South Dublin County Council Development Plan 2016-2022. LOT 1

APPROX 164M

© Ordnance Survey Ireland

12 13 Lot 2 measures approximately 0.72 hectares (1.78 acres) LOT 2 This property is specifically located on the secondary road to the north of the main Liffey Valley entrance roadway in between Giraffe Childcare and Johnson & Johnson office building. It has a good profile and can be seen from the main thoroughfare and roundabout.

Like Lot 1, it is in close proximity to a number of car showrooms as well as a mix of other commercial and food uses.

This site is directly bounded to the north by the N4, the south by Volkswagens office building, the east by Johnson & Johnson office building and to the west by Giraffe Childcare and Lot 1 greenfield site.

Lots 1 & 2 could be interconnected. Lot 2 measures approximately 0.72 hectares (1.78 acres) and is irregular in shape wrapping around the Giraffe Childcare site and with a relatively flat topography. It has frontage of approximately 88m to the secondary road between Giraffe Childcare and Johnson & Johnson office building as well as frontage of approximately 92m directly to the N4 at it’s northern boundary. It is clearly visible from the main entrance roadway.

This property was previously zoned for office in the 2008 Local Area Plan. This has now been changed to ‘Major Retail Centre’ under the South Dublin County Council Development Plan 2016-2022.

LOT 2

APPROX 92M

N4

© Ordnance Survey Ireland

14 15 Lot 3 measures approximately 0.57 hectares (1.42 acres)

© Ordnance Survey Ireland

LOT 3 This property is specifically located directly on the main Liffey Valley entrance roadway immediately abutting one of the APPROX 117M main roundabouts. It is within the section of the park that comprises most of the motor showrooms as well as a mix of other commercial uses such as office and hotel. LOT 3 It is bounded to the north by Johnson & Johnson office building and Lot 2 greenfield lands, to the south the main Liffey Valley entranceway and roundabout, the east by another of the main roundabouts and to the west by Volkswagen’s office building.

Lot 3 measures approximately 0.57 hectares (1.42 acres) and is an irregular shape with relatively flat topography.

This property has an excellent profile to the main thoroughfare and frontage of approximately 117m to the roundabout, main road and also the secondary road to the rear where access is provided.

This property was previously zoned for office in the 2008 Local Area Plan. This has now been changed to ‘Major Retail Centre’ under the South Dublin County Council Development Plan 2016- 2022.

16 17 MARKET OVERVIEW

Economic Overview Figure 2: Annual Retail Sales & Price Growth by Sector (3-mth capital values have edged up by 1.8%. However, both of Ireland remains the EU’s fastest growing economy, Mov. Avg. July 2019) Dublin’s prime high streets – Grafton Street and Henry Street – have seen rents edging back slightly over the last

with output rising by 6.3% year-on-year in Q1 2019. 6 % , h t year. This could be due to a lower number of transactions, w o

Furthermore, total employment rose by 2% Y/Y r 4 G reflecting the varying quality of stock on the market. ce i

in Q2 2019, with an increase of 45,000 people at r Bars P Secondary locations remain under pressure in many cases work. Unemployment is currently at 5.2%, so we are Newsagents 2

Auto fuel due to a combination of oversupply and competition from approaching full employment. Greater numbers at Motors Sales Volume, % 0 Grocery e-commerce. work, coupled with increased earnings and consecutive -12 -10 -8 -6 -4 -2 0 2 4 6 8 10 12 14 16 18 20 22 Specialist Clothing Food Hardware tax cuts, have led to strong growth of over 5% in real -2 Pharmacy aggregate household disposable incomes in the last Dept. Stores Outlook twelve months and continued deleveraging which has -4 Furniture Ireland’s consumer economy has been very strong for contributed to a 5.1% rise in households’ net worth. -6 six years, but there are now increasing signs - across Figure 1: Household Net Worth By Component -8 a broad cross section of variables – that the rate of expansion has eased. In addition, external uncertainties, 1000 -10 Electrical particularly Brexit, US trade and tax policies, and slower

-12 growth in Europe add a layer of downside risk to the 750 Source: Savills Research, CSO outlook. The retail property sector is also adjusting to the sector-specific challenge of e-commerce. Together all of Only licensed premises, newsagents and car dealerships 500 these factors have led to slower rental growth, weaker sit to the right of the vertical axis in Figure 2, indicating

€ billion sentiment towards the sector, and a slowdown in retail rising average prices. In all other sectors prices are 250 investment sales. To illustrate this, retail assets accounted falling. Indeed, deflation has been a consistent theme in for 34% of all commercial property investment turnover in Irish retail for a number of years now. One reason is an 0 Ireland between 2014 and 2017 inclusive. But in the 18m ongoing compositional shift in the Irish retail landscape Table 1. Consumer Economy Dashboard since the start of 2018 they only account for 14.7%. towards mid-market and value brands. It also reflects -250 Indicator Period % Change Y/Y lower input costs for retailers due to a weaker Pound Nonetheless the economic backdrop remains favourable 2011 Q3 2011 2013 Q1 2013 2016 Q1 2016 Q1 2019

2010 Q1 2010 since the Brexit referendum, with a share of these savings 2015 Q2 2015 2012 Q2 2012 2017 Q3 2017 2018 Q2 2018 2014 Q3 2014 2013 Q4 2013 2007 Q1 2007 2016 Q4 2016 2004 Q1 2004 2010 Q4 2010 2003 Q2 2005 Q3 2005 2006 Q2 2006 Q2 2009 2008 Q3 2008 2007 Q4 2007 2004 Q4 2004 Live Register July 2019 -12.0 for retail property. Ireland’s benign cycle of jobs creation, being passed on to consumers. However, the continuing which has been in place for more than five years now, Source: CBol disparity between volume and value sales also suggests Overseas Trips to Ireland Q1 2019 +5.5 is expected to continue with consensus forecasts that e-commerce is improving price transparency, forcing Real VAT Receipts July 2019 +5.6 pointing to robust growth of 2.3% and 1.9% in 2019 and face-to-face stores to be more competitive. 2020 respectively. Additionally, as the labour market Retail Economy Real Household Disposable Q1 2019 +5.2 approaches full-employment, wage inflation is likely The Q1 national accounts show a 2.9% increase in personal Income (4QMA) consumption expenditure – still positive but something of to strengthen, which should provide consumers with Household Net Worth Q1 2019 +5.1 a slowdown compared with the growth rates seen in late additional firing power at the tills. As a result, operators 2017 and the first half of 2018. Total Retail Sales July 2019 -4.4 continue to take on additional workers. While staffing levels across retail and food services currently account for Total Employment Q2 2019 +2.0 The narrower monthly retail sales measure has begun 14.8% of overall employment in Ireland, the sectors were to contract. As of July, the index was down by -4.4% Y/Y, Real Personal Consumption Q1 2019 +2.9 responsible for 21% (9,500) of the net new jobs created compared with growth of 5.2% a year ago. Expenditure across the country in the last twelve months (see Figure Real Average Gross Earnings Q2 2019 +2.4 4). This signifies a degree of confidence within the sector. The bars, motors, fuel, newsagents and department Consumer Credit Outstanding June 2019 +5.6 store sectors captured in the monthly data are all seeing Figure 4: Retail and Food Services Employment in Balances annual sales declines in volume terms (dots to the left Ireland – as of Q2 2019 of the vertical axis in Figure 2). However, there is growth Consumer Sentiment (3mma) July 2019 -15.8 in sales volumes across all of the sectors in the quadrant 30 to the bottom right. Some of the strongest growth is Retail Property 25 being recorded in electrical (+18.2% 3mma) and furniture stores (+13.3% 3mma). These store types are commonly Over the 12m to end-June, retail rents rose by 1.5% across 20 associated with housing and their performance would the basket of investment grade shops covered by MSCI. appear to reflect the ramping-up of new housing supply This reflects a slowdown compared with 3% a year ago. 15 % – new dwellings completions rose by 11.8% Y/Y in Q2 2019 – However values have fallen slightly (-0.3%) as a result of a as well as improved disposable incomes and rising house 20bp drift in yields. As ever with retail there is significant 10 prices – the latter of which has likely encouraged people variation by location and store type. Given buoyant to invest more in their homes. consumer demand for electrical goods and homewares, 5 arising from increased household wealth and housing 0 output, the retail warehousing sector has been the best % of Overall % Jobs created in performer. Here rents are rising by 6.5% per annum and Source: CSO Employment past 12 months

18 19 Liffey Valley Lands offers three superb commercial

sites within the Liffey Valley retail hub N7

Clondalkin Industrial Estate

M50

Clondalkin / Fonthill Train Station

B&Q

Tesco Liffey Valley Retail Park M50

Liffey Valley Shopping Centre

N4 Lot 3 Liffey Valley Motor Showrooms

Lot 2

Lot 1

Clayton Hotel

20 21 TITLE SERVICES VIEWINGS

We understand the title to be held Interested parties are also advised Viewings strictly by appointment long leasehold. A title summary is to satisfy themselves as to the and to be arranged with the sole available on request. presence, adequacy and availability selling agent. of all services to the subject lands.

SALES AGENT SOLICITOR

Savills Ronan Daly Jermyn 33 Molesworth Street 2 Park Place Dublin 2, Ireland Citygate Park Mahon Point www.savills.ie Cork

PSRA - 002233 Patrick Ahern T: +353 21 480 2768 Mark Reynolds [email protected] Director Development T: +353 1 618 1326 [email protected]

Nicky Conneely Senior Surveyor Development +353 1 618 1345 [email protected]

PROPERTY MISREPRESENTATION ACT The Vendors/Lessors and their Agents 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 Savills UK nor any of their 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 Savills UK nor any of their 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. Designed and produced by Creativeworld. Tel +353 1 447 0553