92/93 ST STEPHEN’S GREEN

FOR SALE

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Rare opportunity to acquire Georgian property on St Stephen’s Green, with potential to add significant modern extension

Insert aerial image with text & logo overlaid property outlined on aerial image with smaller shots of the protected structure inserted

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PEARSE STATION

MERRION SQUARE

TRINITY COLLEGE DUBLIN

FITZWILLIAM SQUARE

CROSS CITY LINE DAWSON STREET CONTENTS

Overview 04 GRAFTON STREET ST STEPHEN’S GREEN Executive Summary 06

Location 08 92/93 STEPHEN’S The Asset 10 GREEN Existing Building & Floorplans 12

Accommodation, Zoning & Feasibility Option 14 GREEN LINE IVEAGH GARDENS Development Potential 16

Further Information 18

HARCOURT STREET A rare opportunity to acquire a significant development opportunity at Dublin’s premier address - St. Stephen’s Green.

02 03 WHY DUBLIN

302,920 SQ M €700 PSM 39.2% TAKE UP RENTS PRE-LET

Total take up of purpose- Headline Rents approx. 39.2% of the space that built office space region €700 p sq.m for best PRE-LET is due to PC 2020 – 302,920 sq.m in 2019 buildings in best locations 2022 is pre-let

OFFICE MARKET

DUBLIN DUBLIN DUBLIN POPULATION EMPLOYMENT OFFICE

28.5% of Ireland’s Dublin-based employment Dublin office-based population lives in accounts for 32.4% of the employment remains Dublin national total as of Q2 2020 relatively robust with the growth of 13.8% and 10.5% in ICT and FIRE jobs in the past 12 months ST STEPHEN’S GREEN

CONNECTIVITY STUNNING CITY’S BEST LOCATION AMENITIES Dublin Bikes, LUAS, Dublin Bus and DART within walking distance Stunning city squares such City’s best restaurants, as St Stephen’s Green and pubs, hotels and bustling Iveagh Gardens retail on it’s doorstep

04 05 •

EXECUTIVE SUMMARY

O’CONNELL BRIDGE • Superb opportunity to develop a Grade A modern office building on St Stephen’s

TRINITY COLLEGE DUBLIN Green

• Dublin’s Premier Office location, home to numerous national and international office

GRAFTON STREET occupiers DAWSON STREET • Entire property extending to approximately 0.12 ha (0.3 acre) CROSS CITY LINE • Current annual income of approximately €344,000 with potential to increase further once fully occupied 92/93 ST STEPHEN’S GREEN STEPHEN’S GREEN • Two Georgian buildings extending to approx 1,775 sq.m (19,112 sq.ft) gross with development site to the rear facing the Iveagh Gardens

• RKD Feasibility study shows potential for modern office extension of approximately 3,432 sq.m (36,942 sq.ft) bringing the total HARCOURT STREET office space up to 4,676 sq.m (50,328 sq.ft)

IVEAGH GARDENS • Views of St Stephen’s Green and the Iveagh GREEN LINE Gardens

• This property presents a rare opportunity to develop a trophy asset in an outstanding location

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R L NT D N H I D C SA T R O Green O TRINITY COLLEGE R AD D D DART A O EXCHEQUER ST N R A S T L A HARRINGTON S PEARCE STREET A O D PEMB T S U E R ROA C ROK N TH CULA E RO N S

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M D D R N H O O D C WALKINSTOWN ROAD A IM O D I I O K N G Y R N R S R R Y E Y F A V C S St Stephen’s Green is the most sought after commercial address In addition to these amenities, the property is close to a number B E R R AW T A R ’ IT E O U E Z N N O N W

N O M A K

T M F I M S VILLE AVENUE EL R E M LL in Dublin. Availability of Grade A office space on The Green has of well-establishedDUN luxury five star hotels, galleries and Btourist D BISHO F H IA P ST E P M S

E L TE L T T A P always been at a premium, with a minimal vacancy rate. Rarely attractions and could provide a trophy development for an N ST STEPHEN’S GREEN S N H S A E EN T E ’S S L do development opportunities like this present themselves on international occupier. N N E T E this internationally renowned thoroughfare. KEVIN S R G T The location is home to significant office occupiers and the ’S S N A LOWER E S E T The appeal of the location is demonstrated by the calibre of head office for many, meaning it is the perfect place to carry out T H FITZWILLIAM ST S ST P E E S PH T E occupiers who are located on all four sides of the prestigious business. Immediately adjacent are head office campuses for EN S M ’ T B A S S A J address such as KPMG, Aercap, Goldman Sachs, Permanent TSB Kennedy Wilson, KPMG and Standard Life. GR GG EE O N T S Q T S and The Royal College of Surgeons R T E R The property is located in a highly accessible Dublin 2 commercial ET E L B PEMBROKE STREET O R

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The surrounding area comprises a mix of stunning Georgian location in close proximity to all public transport options such E E H

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former residences, now converted to commercial uses with as Luas, Dublin Bus, Dublin Bikes and Rail, which are all located T 92/93

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IVEAGH E more modern extensions, interspersed with green city squares. within walking distance of the property. N E E C R GARDENS St Stephen’s A

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The property is situated directly between St Stephen’s Green S T A Green ER C This location is second to none and presents an ideal opportunity T B and the Iveagh Gardens with access, a short walk away, to N R R L Tram E

H U D to develop office space in the centre of Dublin 2 and the CBD. A

Merrion Square and Fitzwilliam Square. L O

C Dublin Bus R

Grafton Street and environs is located within approx. 450m of A H the subject property. This area is a bustling social hive of city HATC LESSON STREET Dublin Bike H STREET UPPER centre bars, restaurants and cafés as well as the main shopping FITZWILLIAM STREET thoroughfare in Dublin, housing brands such as Brown Thomas DART Rail LUAS HARCOURT STREET and M&S.

08 09 ADELAIDE S TREET HARRINGTON ST C H A R LE M EN T S TR E N E L T O

O L R E T D A A

D W O R R N O O O T L G R IN E L T R A U B W THE ASSET

The property comprises two interconnected Georgian protected structures, with an arched alleyway providing access to a rear car park.

The buildings are 4 storey over basement and measure at approx. 1,775 sq m or 19,106 sq ft gross.

The entire site is approx. 0.12 ha (0.3 acres) with approx. 0.08 ha (0.2 acres) net developable to the rear.

The property is bounded to the south by the Iveagh Gardens, to the north by St Stephen’s Green and to the east and west by international office occupiers.

Rare opportunity to develop a trophy asset at this prime office location with views of St Stephen’s Green and the Iveagh Gardens

OSI approximate outline.

10 11 EXISTING BUILDING

ACCOMMODATION SCHEDULE

Approx. Gross Approx. Gross Floor Area Sq m Floor Area Sq ft AREA TO BE DEMOLISHED Basement 406.8 4,379

Ground 524.6 5,647

First 324.0 3,488

Second 260.0 2,799

Third 260.0 2,799

TOTAL 1,775.33 19,112

The property comprises two Georgian properties totalling a gross floor area of 19,112 sq ft (1,775 sq m)

Existing Ground Floor Plan.

The property comprises two interconnected Georgian former residences. Both are in use as serviced office space and occupied on short term licence agreements.

A redbrick alleyway provides access to the rear yard, currently in use as a car parking facility.

The Georgian buildings are listed as protected structures. However they include some more modern extensions to the rear, which will likely be demolished.

The property is currently occupied under the terms of a series of license agreements, producing an annual income of approximately €344,000. with potential to increase further once fully occupied.

Further information is available on request from the sole selling agents.

Typical Existing Upper Floor Plan. Existing Basement Plan.

12 13 REDEVELOPMENT POTENTIAL ZONING

The development potential of the site is framed by the Dublin City Development Plan 2016-2022. The property is located in an area zoned Objective Z8, “to protect the existing architectural and civic design character, and to allow only for limited expansion consistent with the conservation objective”.

Lands zoned Z8 incorporate the main conservation areas in the city, primarily the Georgian Squares and streets. The aim is to protect and preserve the architectural character /design and overall setting of such areas. A range of uses is permitted in such zones, as the aim is to maintain and enhance these areas as active residential streets and squares during the day and at night-time. Offices may be permitted where they do not impact negatively on the architectural character and setting of the area and do not result in an over concentration of offices. In the south Georgian core where residential levels are low, it is the aim to encourage more residential use in the area.

More detailed planning notes available on request.

Zone Z8 To protect the existing architectural and civic design character, and to allow only the limited expansion consistent with the conservation objective

Conservation Areas

Protected Structures, (RPS takes precedence)

RKD feasibility study showing potential redevelopment FEASIBILITY OPTION

RKD have prepared a feasibility study option which shows redevelopment potential to include the existing building linking to a new modern office extension to the rear comprising approximately 4,676 sq m or 50,328 sq ft ground plus six floors.

This option would incorporate a unique entranceway to the building via the impressive brick alleyway. It also makes use of the excellent views to the front of St Stephens Green and to the rear of the Iveagh Gardens.

This feasibility study takes the following into account;

• Utilise Archway as the entrance • Locate Lift Cores close to 92-93 • Allow upper levels to have views to Stephens Green. • Allow for floor by floor subletting • Amenities in Basement - showers, changing etc. • Include a Terrace facing St Stephens Green • Viewing point at upper floors from lifts over St Stephens Green • Bridge Link between existing and new • Glazed Stairwells • Light-wells to lower Ground Aerial view from South View to front (St Stephen’s Green) from Protected Structure Further details will be provided in the dedicated dataroom.

14 15 FEASIBILITY OPTION

Rear Elevation of Proposed Extension. Section Proposed Extension.

SAMPLE FLOOR LAYOUTS

Ground Floor. Sample Upper Floor. Sixth Floor.

APPROXIMATE SCHEDULE OF AREAS FOR FEASIBILITY STUDY OPTION

EXISTING BUILDING NEW BUILD COMBINED Proposed Proposed Proposed Proposed New Existing GFA Offices Circulation Existing GFA Efficiency Total Offices Total Circulation Total GFA Efficiency Demolition Office Circulation Build GFA Sq m 1,775.33 531.75 836.00 407.60 1,243.60 2,745.60 686.40 3,432.00 80.00 3,581.60 1,094.00 4,675.60 76.60

Sq ft 19,109.65 5,723.76 8,998.70 4,387.41 13,386.11 29,553.64 7,388.41 36,942.05 861.12 38,552.34 11,775.82 50,328.16

16 17 GRAFTON STREET DAWSON STREET FURTHER INFORMATION

CROSS CITY LINE TITLE We understand the title to be held freehold. A title summary is available in the dedicated dataroom.

SERVICES Interested parties are also advised to satisfy themselves as to the presence, adequacy and availability of all services to the subject lands.

VIEWINGS Viewings strictly by appointment and to be arranged with the sole selling ST STEPHEN’S GREEN agent.

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DATAROOM Further information will be provided via a dedicated web based dataroom.

92/93 SALES AGENTS SOLICITORS STEPHEN’S Savills Ahern Rudden Quigley Solicitors GREEN 33 Molesworth Street 5 Clare Street Dublin 2 Dublin 2 Ireland Ireland

www.savills.ie

PSRA - 002233

John Swarbrigg Laura Prendergast Director Surveyor Development Development +353 1 618 1333 + 353 1 618 1388 HARCOURT STREET [email protected] [email protected]

The agents and the Vendor/Lessor give note that the particulars and information contained in this brochure do not form any part IVEAGH GARDENS 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 nor any of their employees have any authority to make or give any representation or warranty (express or implied) in GREEN LINE 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. All maps produced by permission of the Ordnance Survey Ireland Licence No AU 001799 © Government of Ireland. Designed and produced by Creativeworld. Tel +353 1 447 0553.

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