COMMERCIAL INVESTMENT OPPORTUNITY FOR SALE BY PRIVATE TREATY (Tenants not affected) C2 E2 Investment Summary High profile mixed use building located on College Green Secure income from Tesco Ireland Limited for 5 years Attractive lot size Asset management potential WAULT of 4.92 years with total passing rent of €222,000 per annum and with excellent reversionary potential Location 18-19 College Green occupies emerging as a strong retail and a landmark position within leisure destination with the Dublin city centre situated on addition of Abercrombie and one of Dublin’s busiest and Fitch, Dubarry shoes, H&M, most historic thoroughfares. Starbucks, Tesco and the Dublin Trinity College campus and Tourist offices. Other occupiers the former Houses of Parliament in the immediate area include are located just south of the The Wax Museum, The Bank Bar property, on the east side of and Costa Coffee. College Green, Grafton Street the city’s main shopping destination The former Central Bank at is 250m from the property. There College Green and Dame Street is a high concentration of offices, is undergoing an extensive third level colleges, hotels, re-build and refurbishment restaurants and bars. College project and will be renamed Green is now serviced by the Central Plaza providing 12,500 new Luas cross city tram, with sqm of fashion, food and local stops at Trinity College and beverage as well as 9,232 sqm of Dawson Street. office accommodation. The area has transformed from a traditional banking and insurance quarter and is now College Green Civic Plaza College Green is a historic three-sided plaza located in the Centre of Dublin City Centre with Bank of Ireland located on the northern side, which was previously Ireland’s Houses of Parliament until the 1800’s. Trinity College is located to the east with a series of 19th century buildings on the southern side. College Green runs from the front gates of Trinity College Dublin to pedestrian traffic lights close to the former Central Bank on Dame Street at the junction of Trinity Street. Dublin City Council propose to develop a major civic space and implement a number of traffic management measures at College Green. The space created by the proposed project will have the potential to transform College Green and to redefine the area as a Civic Space of National Importance in line with Dublin City Council’s long-standing objective for College Green – “To prioritise the redevelopment of College Green as a pedestrian friendly civic space, including the pedestrianisation of Foster Place.” (Dublin City Council, 2016). Description 18-19 College Green comprises a six The offices are accessed from a storey over basement mid-terrace separate street entrance at ground building extending to approximately floor via a generous lobby, lift 938.1 sq.m. (10,097 sq.ft.) offering and staircase. a superb pitch on the south side of College Green with substantial The offices are generally open plan daily footfall. Tesco occupy the on each level, fitted to a basic ground floor and basement. standard comprising suspended ceilings, recessed lighting, plastered The upper floors are in use as offices and painted walls. The upper floors and are occupied by IT Solutions. are of a concrete construction. Tenancy & Accommodation Schedule Description Tenant Floor Area (NIA) Lease Term Next Open Market Break Options Contracted As per Assignable Survey Review Rent Sq.m. Sq.ft. Basement Tesco 191.5 2,061 25 years from CPI linked reviews 30 June 2023 €62,000 & Ground Ireland 194.6 2,095 1 July 2013 with a cap of +3% and 30 June 2028 Limited collar of -1% (Tenant Only) First t/a 169.5 1,824 35 years from Upwards only rent 31 December €160,000 Second IT 95.7 1,030 1 October 1991 reviews every five years 2022 Third Solutions 95.7 1,030 (Landlord & Fourth 95.7 1,030 Tenant) Fifth 95.4 1,027 TOTAL: 938.1 10,097 €222,000 Lease areas stated in Tesco lease 3,582 sq.ft. Assignable building and measurement survey available on request. St. Andrew’s Visit Dublin Retail/Restaurant Superdry Store Costwold & Treacy Solicitors Trinity Street carpark An Post O’Neill’s Pub (post office) Pichet Restaurant Ulster Bank H&M The Bank Bar/ KBC Bank Restaurant Church Lane Church Trinirty St Costa Coffee Subway Starbucks College Green Dame St Central Plaza (former Central Bank) Bank of Ireland Title FOR FURTHER INFORMATION We understand that the property is held freehold. CONTACT Zoning The property is located in an area zoned Objective Z5 ‘to consolidate and facilitate the development of the central area, and to identify, Selling Agent reinforce, strengthen and protect its civic design character and dignity’ under the Dublin City Development Plan 2016-2022. TWM Property 4/5 Dawson Street, BER Ratings D02 FH72, Dublin 2 Retail: C2 www.twmproperty.ie PSRA No: 001835 Offices: E2 Michele Jackson Proposal T: +353 (0) 1 611 0323 Offers are sought in excess of €4.1 million, equating to a Net Initial E: [email protected] Yield of 5%, assuming standard purchaser costs of 8.46%. This is a capital value per sq.ft. of €406. Patricia Ward T: +353 (0) 1 611 0324 Data Room E: [email protected] www.collegegreeninvestment.com James Loughnane VAT T: +353 (0) 1 611 0321 We understand that VAT is applicable on the sale by way of ‘Transfer E: [email protected] of Business Relief’. TWM for themselves and for the vendor/lessor of the property whose agents they are, give notice that: Solicitor 1.These particulars do not constitute an offer or contract or any part thereof and none of the statements contained in the particulars as to the property are to be relied on as a statement or representation of fact. 2. The vendor does not make or give, nor is the Agent(s) or its staff authorised to make or give any Dillon Eustace representation or warranty in respect to this property. 33 Sir John Rogerson’s Quay, Dublin 2 3. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchaser or www.dilloneustace.com tenant should not rely on them as statements or representations of fact but must satisfy himself/herself by inspection or otherwise as to the correctness of each of them. Louise Wright 4. In the event of any inconsistency between these particulars and the contract of sale, the latter shall prevail. T: +353 (0) 1 673 1817 5. VAT may be payable on the purchase price. E: [email protected].
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