For Sale by Private Treaty Multi-Family Investment Opportunity Bloomfield Park DONNYBROOK, DUBLIN 4 Bloomfield Park 2 | 3

Investment Considerations

Multi-family investment comprising of 8 high end two bed apartments within a primely located and exclusive development.

BLOOMFIELD PARK

A portfolio of eight luxury two-bedroom apartments within the prestigious Bloomfield Park development

Highly sought-after residential location in the prestigious Dublin 4

Fully let with the exception of one show apartment

Passing gross rent is €156,000 from the occupied units

Highly reversionary average gross rent per month of €1,857 in the occupied units

Reversionary potential with average market rent achieving €2,750 per month in the local vicinity

Strong individual re-sale values

Average apartment size is 75 sq m

8 car parking spaces Bloomfield Park 4 | 5

O’Connell Upper Connolly N Marlborough Busáras W E

Location S George's Dock POINT O'CONNELL ST ST O'CONNELL Mayor Square VILLAGE Abbey Spencer Dock O’Connell Street Bloomfield Park is located within the Donnybrook is considered a prime residential and GPO The Point DUBLIN commercial location with many foreign embassies and Jervis PORT Smithfield Tara Street prestigious suburb of Donnybrook, multinational headquarter buildings based within the Four Courts RIVER LIFFEY immediate vicinity. Local commercial occupiers include high Westmoreland Dublin 4 and just 1.6km south of profile firms such as Amazon, Groupon, Morgan McKinley TEMPLE Trinity BAR and Allied Irish Bank making it an attractive location for the St. Stephen’s Green. 2.5KM private residential rental market. Trinity College Pearse GRAND CANAL ST LOWER RINGSEND Donnybrook offers a wide range of services and amenities including Donnybrook Lawn Tennis Club, Donnybrook GRAFTON ST Dawson

Stadium, as well as a selection of shops, restaurants Ringsend Park THE COOMBE and cafes. Residents and tenants of the Bloomfield Park Merrion KILDARE ST Square development benefit from its proximity to Dublin City St.Stephen's 2KM Grand Canal Dock Green MOUNT ST LOWER Centre and all the amenities that it has to offer. St Stephen's Green BATH AVE

BEACH RD

NORTHUMBERLAND RD CLANBRASSIL ST LWR Fitzwilliam LOCAL OCCUPIERS Iveagh Square Gardens

1KM CAMDEN ST LOWER ST CAMDEN

Lansdowne Road D HEYTESBURY ST HEYTESBURY

R Harcourt

E

PEMBROKE RD L

L I DUBLIN BAY V

N

MESPIL RD O T S CIRCULAR RD I R T

SANDYMOUNT

SHELBOURNE RD

Charlemont BALLSBRIDGE Dublin Port GROVE RD RANELAGH Central Bank CLYDE RD Grafton Street IFSC Trinity College Sandymount

Merrion Square Grand Canal Dock Bloomfield St. Stephen’s Green Herbert Park Park Ranelagh APPIAN WAY

Aviva Stadium

RATHMINES RD LOWER

SANDFORD RD Clayton Hotel Ballsbridge CHARLESTON RD MERRION RD

HERBERT PARK Embassy of USA RATHMINES

SHREWSBURY RD Fitzwilliam Lawn Beechwood Sydney Parade Tennis Club Embassy of Portugal DONNYBROOK

AILESBURY RD

RATHGAR RD Herbert Park EGLINTON RD Bloomfield TRANSPORT LINKS Park Bloomfield Park is located just off the Royal Hospital Donnybrook Milltown Park exclusive Morehampton Road, directly Cowper BEAVER ROW behind the Hamptons Hotel, equidistant Donnybrook The area also has the benefit of excellent transport from both Leeson Street Bridge and Donnybrook Village. The immediate vicinity provides access to a depth of transport links Elm Park Golf infrastructure and public transport links. & Sports Club with both the DART and Cross City Luas HIGHFIELD RD within walking distance.

TERENURE RD CLONSKEAGH WOODBINE RD DARTRY Milltown

MILLTOWN RD ST HELENS Bloomfield Park 6 | 7

Asset Bloomfield Park is an exclusive residential scheme constructed in 2005. Overall, the development comprises Overview of 188 residential units of which eight are being offered for sale in this multi-family investment opportunity.

INCOME SUMMARY

€1,857 €2,750 Average Passing Rent Average Market Rent

€156,000 €108,000 Current Gross Rent Potential Rental Uplift Bloomfield Park 8 | 9

Accommodation Schedule The portfolio comprises of eight two-bedroom The scheme is designed around landscaped apartments at an average size of approx. 810 sq ft. The subject units are dispersed throughout the gardens with impressive water features and the scheme with four blocks each having lift access to development benefits from an onsite creche. every floor and eight basement car parking spaces. There is currently one vacant unit held for viewings with the remaining seven currently let with the existing tenants remaining in situ. Each unit offers a spacious balcony overlooking impressive gardens.

Unit BER Bedrooms Size (Sq Ft) Occupancy Rent Annual ERV Annual ERV

64 B2 2 834 Vacant €€0 €€0 €€2,750 €€33,000

104 C1 2 845 Rented €€1,600 €€19,200 €€2,750 €€33,000

152 D1 2 845 Rented €€2,100 €€25,200 €€2,750 €€33,000

165 D2 2 769 Rented €€1,800 €€21,600 €€2,750 €€33,000

166 D2 2 791 Rented €€2,200 €€26,400 €€2,750 €€33,000

169 D2 2 768 Rented €€1,650 €€19,800 €€2,750 €€33,000

171 D2 2 791 Rented €€1,800 €€21,600 €€2,750 €€33,000

172 D2 2 838 Rented €€1,850 €€22,200 €€2,750 €€33,000

Total €€13,000 €€156,000 €€22,000 €€264,000

All prospective purchasers are specifically advised to satisfy themselves as to the accuracy of any measurements, tenancy information, site areas referred to herein and undertake their own due diligence. Bloomfield Park 10 | 11

Multi-Family Further Market Information

ECONOMIC OVERVIEW RENTAL GROWTH FORECASTS VAT POSITION ON SALE Please see project dataroom for VAT status. Ireland continues to experience the fastest rate of economic growth in Rent controls were first introduced in Dublin in December the EU with total output rising at an annual rate of 9.1%. Jobs growth 2016. Generally, these limit rental growth to a maximum VIEWINGS remains the catalyst for this expansion. More than 62,000 net new jobs 62,000 of 4% per annum. However, there are exemptions for new jobs created in Viewings are strictly by appointment through have been created in the last twelve months and total employment has properties that have not been previously let within the last the last twelve months the selling agent. now surpassed its boom-time peak on a seasonally adjusted basis. two years and in the case of a substantial change in the nature of accommodation provided by a landlord. These SOLICITOR legislative changes allow for the possibility of a divergence between average rental growth rates and rental growth rates on newly let or new build properties and appear to explain why rental growth in Dublin continues to exceed the 33 Sir John Rogersons Quay regulated growth rate of 4% per annum. Grand Canal Dock RESIDENTIAL RENTAL MARKET Dublin 2 Savills has developed rental growth forecasts on In the early 2000s, approximately 12% of households Despite an increase in the overall stock of properties unencumbered newly let units which extend out to Q1 BER DETAILS in Dublin rented privately. During this period private in Dublin’s private rented sector (PRS), the number 2020, the results of which are summarised below; BER Nos. available on request. renting was generally considered a secondary tenure of units that are available to rent has fallen sharply Range of energy performance indicators: that was mainly for young people transitioning towards since 2011 with vacancy now standing at just 1.31% Overall continued growth of 15.7% in Dublin residential a longer-term goal of home ownership. (see Figure 1). This is significantly below the Natural rents is expected through the eight quarters Q2 2018 - Vacancy Rate (NVR) which we econometrically Q1 2020. More recently, however, strong house price inflation SELLING AGENTS estimate to be 5.3% in the capital. Theory suggests Average rental growth of 7.8% per annum is expected and stricter mortgage lending have made home that if the actual vacancy rate lies beneath the NVR the on new lets over this period. ownership less affordable. Along with changing market is undersupplied and rents will be rising, and Annual growth of 7.2% in rents on new lets is forecast attitudes to renting, these dynamics have led to the that’s exactly what is happening. Average residential even at the furthest horizon of the forecast window in proportion of households renting privately in Dublin rents in Dublin are currently rising by 7.8% per annum. rising to over 24%. Q1 2020.

33 Molesworth Street Figure 1: Vacancy Rate in Dublin’s Private Rented Sector Figure 2: Residential Rents Forecast - Dublin New Lets Dublin 2 savills.ie 10 Dessie Kilkenny 9 150 +353 1 618 1401 8 140 [email protected]

7 130 PSRA Licence: 002233-003108

6 120 John Earley 5 +353 1 618 1766 Dublin VR 110 4 [email protected]

Index: Q3 2007 = 100 Index: Q3 2007 100 PSRA Licence: 002233-007379 3 90 2 Dublin NVR 80 bloomfieldparkdublin.com 1 70 The agents 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 2017 Q2 2017 Q4 2017 2010 Q2 2010 Q4 2010 Q2 2015 Q4 2015 Q2 2016 Q4 2016 2007 Q4 2007 2011 Q2 2011 Q4 2012 Q2 2012 Q4 2013 Q2 2013 Q4 2014 Q2 2014 Q4 2008 Q2 2008 Q4 2009 Q2 2009 Q4 details, such as prices, rents or any other outgoings are for guidance only and 2018 Q2(f) 2018 Q4(f) 2018 Q2(f) 2019 Q4(f) 2019 are subject to change. Maps and plans are not to scale and measurements are 2017 Q2 2017 Q4 2017 2010 Q2 2010 Q4 2010 Q2 2015 Q4 2015 Q2 2016 Q4 2016 2007 Q2 2007 Q4 2007 2011 Q2 2011 Q4 2012 Q2 2012 Q4 2013 Q2 2013 Q4 2014 Q2 2014 Q4 2008 Q2 2008 Q4 2009 Q2 2009 Q4 approximate. Whilst care has been taken in the preparation of this brochure intending purchasers, Lessees or any third party should not rely on particulars Source: Savills Research Source: Savills Research 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 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 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.