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Davy Irish Property Fund

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Davy Irish Property Fund Real Estate Davy Irish Property Fund Q2 2019 Davy Irish Property Fund The Davy Irish Property Fund (“DIPF” of “the Fund”) is an open ended, commercial property fund, focused on delivering consistent returns to investors from a portfolio of office, retail and industrial property assets, located predominantly in Dublin city centre. Leveraging expertise in Irish commercial property, Fund Manager, Davy Real Estate, (“DRE”) applies a holistic investment strategy, incorporating Investment Management, Development Management and Asset Management, to drive value across the portfolio. DIPF is authorised as a Qualifying Investor Alternative Investment Fund (“QIAIF”) by the Central Bank of Ireland and is available to Qualifying Investors only, as defined in the Information Memorandum. For further information visit: davy.ie/real-estate/dipf Davy Real Estate Davy Group Established in 1997, Davy Real Estate, a division of Davy, The Davy Group is Ireland’s leading provider of wealth invests in and manages real estate assets in Ireland on behalf management, asset management, capital markets and financial of domestic and international investors. Davy Real Estate is advisory services. The Davy Group is headquartered in Dublin, one of the largest real estate investors in Ireland. The team with offices in London, Belfast, Cork and Galway. manages in excess of c. €2.0 billion in real estate assets through regulated and unregulated structures. For further information visit: davy.ie Investment expertise Our industry leading specialists bring expertise to property selection and all areas of active asset management. Our in- house research provides us with unrivalled property sector and €14+bn economic research which we leverage to build portfolios that Assets Under will deliver a return on investment over the long-term. Management Client focused We specialise in the acquisition and management of Irish real estate on behalf of institutions and private investors. We are client focused with a direct and active management style. Our boutique investment management service is delivered through All data correct as at March 2019. regular client and tenant engagement and communication. For further information, please visit: davy.ie/real-estate Fund overview #1 Property Fund €265m €193m €15,261 in Ireland Top performing Fund Gross Asset Value Net Asset Value NAV per unit over the last 1 and 5 year periods (to 30 September 2018)* Consistently outperformed majority of Irish Property Funds over the last 5 and 10 years* 7.12% c.5.5% 7.0 years Winner of the 2016 and 2018 MSCI European Total Return 2018 Projected WAULT Property Investment Award Distributions for best performing fund for 2019 in the Irish market over a three-year period. *AON Group Pooled Pension Funds Survey Q3 2018 Portfolio overview Portfolio breakdown Geographical split Office 49% Dublin 96% Retail 45% Outside Dublin 4% Industrial 6% Office Retail Industrial 8 properties 16 properties 4 properties 207,654 sq ft 183,570 sq ft 186,145 sq ft 25 tenants 86 tenants 10 tenants All data correct as at 30 June 2019. Source: J&E Davy unless Source Net Asset Value NAV - Northern Trust. This figure has been otherwise stated rounded by Davy. All data refers to Unit Class D (Distributing) - Sedol Number 9795233 Gross Asset Value – the Net Asset Value of the Fund plus borrowings WAULT = weighted average unexpired lease term. Warning: Past performance is not a reliable guide to future performance. The value of your investment may go down as well as up. If you invest in this product, you may lose some or all of the money you invest. Warning: Forecasts are not a reliable guide to future performance. Davy Irish Property Fund 1 Investment strategy Aims to provide long-term income and capital growth Consistent investment strategy delivering performance through: Measured Targeted Asset Investment Development Utilisation ■ Targeting and securing ■ Continuous asset augmentation ■ Building relationships and selective acquisitions in through regeneration and trust with our 120 tenants to strategic locations at the improvements. understand their needs in order opportune time. to meet their expectations. ■ Targeting capital expenditure ■ Prudent risk assessment and to strengthen asset portfolio, ■ Driving strong tenant retention asset selection. tenant appeal and longevity, and sustainable, long-term, and enhance rental values and rental growth. ■ Leveraging Davy Real Estate capital returns. team’s property sector and ■ Extracting value and economic research for the ■ Aligning portfolio upgrades to maximising the potential of our benefit of the Fund, to build a best-practice market standards existing asset portfolio through portfolio that aims to deliver of sustainability and energy in-house asset management value over the long-term. efficiency. and sector research expertise. 2 Davy Irish Property Fund Reasons to invest Aims to provide long-term income and capital growth ■ Exceptional quality asset portfolio focused in Dublin city centre ■ Prudent risk assessment, asset selection, and portfolio management ■ Portfolio strategy designed to capitalise on current market trends and protect against changes to the economic outlook ■ Prioritise high income generating assets and not ‘trophy assets’ ■ Balanced portfolio across key sectors of Dublin’s commercial property market ■ Investment returns delivered through income generation and expert asset management ■ Strong current income yield of 4.8% for 2018 (forecast for 2020: c. 6%) ■ Capital appreciation of 2.30% for 2018 ■ Low fund and management fee structure ■ Investment management team with proven, multi-cycle experience and track record of performance and returns ■ In-depth property market research from Davy Real Estate team Warning: Past performance is not a reliable guide to future performance. The value of your investment may go down as well as up. The income you get from this investment may go down as well as up. Warning: Forecasts are not a reliable indicator of future performance. Davy Irish Property Fund 3 Our properties Dublin based Office Balbriggan 20 on Hatch Newmount House 22/24 Lower Mount Street Treasury Building St. James House, Adelaide Road 8/34 Percy Place Ashbourne 2/5 Warrington Place Swords Retail Portmarnock 25 Henry Street 32 Henry Street 33 Henry Street Blanchardstown 3 G.P.O. Building, Henry Street 69 O’Connell Street Lucan Dublin 68 O’Connell Street 31 Henry Street 2 Grafton Street/50 Nassau Street 44 Grafton Street 18 Wicklow Street Industrial 4 Westgate Business Park, Tallaght, 24 4 Parkway Business Centre, Tallaght, 24 Broomhill Business Park, Unit 1 - 8, Tallaght, Dublin 24 Woodies DIY Swords, Swords All data correct as at 30th June 2019 Source: J&E Davy unless otherwise stated 4 Davy Irish Property Fund Why Ireland Growth with strong fundamentals Economy Balbriggan ■ Strong Gross Domestic Product (GDP) growth forecasts of 4% for 20191 ■ Employment growing strongly, unemployment falling sharply2 Location ■ Direct foreign investment (FDI) to the State in 2017 was €744 billion3 Ashbourne ■ Euro-denominated denominated and Euro market access ■ Stable regulatory environment Commercial property market Swords ■ Growth in rental income4 5 Portmarnock ■ Strong FDI driving demand ■ Brexit opportunity5 Blanchardstown Lucan Why Dublin Dublin Prime assets, prime locations, prime tenants Economy ■ Greater Dublin Area accounts for over 53% of Ireland’s GDP according to the most recent available data (2014)6 Population ■ 1.9 million population of greater Dublin area ■ Dublin is home to more non-Irish people than any other part of the country, with 21% of residents born outside of Ireland5 Commercial property demand ■ Annual rent for prime retail floorspace in Dublin in mid 2018 was €6,000 /sq m7 ■ Grade A floorspace rent of €638 / sq m8 Sources listed on Page 31 Davy Irish Property Fund 5 NORTH CIRCULAR ROAD CROKE PARK RUSSELL STREET BERKELEY STREET NORTH DOCK BELVEDERE PLACE NORTH CIRCULAR ROAD EASTPOINT STREET WEST ROAD PORT TUNNEL NORTH DOCK WEST ROAD FITZGIBBON STREET SUMMERHILL PARADE PHIBSBOROUGH ROAD NORTH STRAND ROAD EASTPOINT STREET SEAVIEW AVENUE EAST CHARLES STREET GREAT MOUNTJOY PORTLAND ROW EASTPOINT STREET SQUARE PARK MOUNTJOY SQUARE SOUTH SUMMERHILL NORTH STRAND ROAD GARDINER ROW DORSET STREET PROMENADE ROAD PARNELL SQUARE EAST ROYAL CANAL CONNOLLY DOMINICK STREET UPPER CALEDON ROAD STATION PROMENADE ROAD HAWTHORN AVENUE EAST ROAD RAILWAY STREET ST MARY’S ROAD SEAN MACDERMOTT STREET LOWER L L I H GRANGEGORMAN LOWER N O I T CHURCH ROAD MERCHANT’S ROAD U D T I A T O S SEVILLE PLACE TOLKA QUAY ROAD R KIRWAN STREET N E O FOLEY STREET EAST ROAD N C A L L I K SHERIFF STREET LOWER CBD properties LOWER STREET GARDNER JAMES JOYCE STREET JOYCE JAMES MANOR STREET ORIEL STREET UPPER H T R HARBOURMASTER PLACE DOCKLANDS O ALEXANDRA ROAD N T STATION Prime office and retail locations E E R T SHERIFF STREET LOWER S EAST WALL ROAD R E G P IN P K TALBOT STREET U T E AMIENS STREET E R T SHERIFF STREET UPPER S H C BRUNSWICK STREET NORTH R U H MAYOR STREET LOWER ALEXANDRA ROAD C 8 11 Office PARNELL STREET 7 GUILD STREET 12 PARK LANE K ING STREET NORTH 13 1 20 on Hatch HENRY STREET GPO 9 DUBLIN PORT 2 Newmount House, 22/24 Lower Mount StreetSTREET CAPEL MARY STREET 10 CUSTOM HOUSE EXCHANGE PLACE CONVENTION COMMONS STREET CHURCH STREET BERESFORD STREET STREET BERESFORD CUSTOM HOUSE QUAY QUEEN STREET CUSTOM HOUSE QUAY CENTRE BLACKHALL STREET UPPER STREET O’CONNELL PARK LANE BLACKHALL PLACE 3 Treasury Building MARY STREET LITTLE EDEN QUAY NORTH WALL QUAY LIFFEY STREET
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