ARGUABLY THE MOST PROMINENT OFFICE BUILDING IN A LOCATION SYNONYMOUS WATCH THE VIDEO WITH ICONIC DUBLIN LANDMARKS, GLOBAL LEADERS AND A THRIVING LOCAL ECONOMY IRELAND’S LARGEST OFFICE INVESTMENT 2 3 THE HEADLINES FOR SALE BY PRIVATE TREATY ON THE INSTRUCTION OF: The Joint Receiver, REAL ESTATE Luke Charleton & David Hughes of EY Investment & Management • Grade A office building extending to approximately 21,054 sq m (226,624 sq ft) • 100 basement car parking spaces • Let to PwC, the largest professional services firm in Ireland • Long unexpired lease term, in excess of 16.5 years • Passing rent of €11,779,241 per annum • Strong reversionary potential (current passing rent of approximately €50 per sq ft) • Upward only rent reviews (next review April 2017) • Tenant unaffected by the sale www.onespencerdock.com 4 5 A PRIME WATERFRONT LOCATION 6 7 DOCKLANDS TRAIN STATION 3 GARDINER STREET 5 9 CONNOLLY BUS ROUTE MARLBOROUGH TALBOT STREET BUSARAS AMIENS STREET 4 2 MAYOR SQUARE 1 O’CONNELL GPO O’CONNELL STREET IFSC SPENCER DOCK POINT VILLAGE ABBEY STREET NORTH DOCKS CUSTOM HOUSE QUAY DUBLIN BIKES PROPOSED DOCKLANDS DUBLIN BIKES RAPID TRANSIT QUALITY DUBLIN BIKES NORTH WALL QUAY BUS CORRIDOR DUBLIN BIKES BUS ROUTE DUBLIN BIKES DUBLIN BIKES RIVER LIFFEY SAMUEL DUBLIN BIKES BECKETT 6 CITY QUAY TARA STREET DUBLIN BIKES BRIDGE PROPOSED LINK D’OLIER STREET BRIDGE SIR JOHN ROGERSONS QUAY WESTMORELAND MOSS STREET DUBLIN BIKES SOUTH TRINITY DUBLIN BIKES DUBLIN BIKES DOCKS PEARSE STREET TARA STREET DUBLIN BIKES GRAND CANAL DUBLIN BIKES HANOVER QUAY SQUARE DUBLIN BIKES TRINITY COLLEGE PEARSE STREET PEARSE STREET 7 GRAND CANAL DOCK DUBLIN BIKES PEARSE STREET DUBLIN BIKES NASSAU STREET DAWSON DUBLIN BIKES RINGSEND ROAD BUS ROUTE DUBLIN BIKES DUBLIN BIKES MACKEN STREET DUBLIN BIKES GRAFTON STREET KILDARE STREET DAWSON STREET MERRION DUBLIN BIKES MOUNT STREET LR DUBLIN BIKES SQUARE DUBLIN BIKES GRAND CANAL DOCK DUBLIN BIKES 8 MERRION STREET UPPER STEPHENS GREEN MOUNT STREET UPPER DUBLIN BIKES ST.STEPHENS GREEN DUBLIN BIKES BATH AVENUE BAGGOTT STREET DUBLIN BIKES GRAND CANAL HADDINGTON ROAD DUBLIN BIKES PEMBROKE STREET LOWER FITZWILLIAM STREET Regeneration of the Dublin Docklands began Centre Dublin. Dublin’s Docklands are now DISTANCE TO 1 SPENCER DOCK LUAS STOP 1 min 6 TARA STREET DART STATION 14 min THE STORY in the late 1980s with the development of the established as the premier office location with International Financial Services Centre (IFSC). a host of international tech and corporate firms TRANSPORT LINKS 2 MAYOR SQUARE LUAS STOP 3 min 7 PEARSE STREET DART STATION 14 min including Google, Facebook, Citi Bank, Matheson OF DUBLIN’S Major construction projects continued, and today and HSBC. (By foot from One Spencer Dock) 3 DOCKLANDS TRAIN STATION 4 min 8 GRAND CANAL DART STATION 16 min the area provides excellent accessibility with the 4 BUSARAS 12 min 9 LUAS CROSSCITY MARLBOROUGH STOP 16 min DOCKLANDS DART, Irish Rail, LUAS Docklands extension and There are also further plans for a number the Samuel Beckett Bridge. The area is home of new exciting developments in this vibrant 5 CONNOLLY STATION 12 min to modern Dublin landmarks like the Bord Gais commercial hub. Energy Theatre, the 3Arena and the Convention 8 9 DUBLIN DOCKLANDS TODAY 10 11 DUBLIN 1 SPENCER DOCK 2 3 CENTRAL DOCKLANDS BANK 10 9 PROJECT WAVE HANOVER 8 BOLANDS MILLS PLAZA 76 SIR JOHN ROGERSON’S QUAY 2020 7 8 HANOVER QUAY 5 THE FUTURE... CAPITAL DOCK HANOVER PARK 4 6 THE EXO SPENCER DOCK CENTRAL BANK PROJECT WAVE HANOVER PLAZA BOLANDS MILLS 1 2 3 9 10 THE EXO CAPITAL DOCK HANOVER PARK 8 HANOVER QUAY 4 5 6 77 8 76 SIR JOHN ROGERSONS QUAY 12 13 ASSET OVERVIEW BUILDING PROFILE • Designed by Scott Tallon Walker Architects • Full height central atrium opening onto the office areas • Developed by Treasury Holdings • Large open floor plates with flexible, adaptable layouts • Completed in 2007 • Extensive natural light from all aspects • Grade A office accommodation • The entire premises extends to approximately 21,054 sq m (226,624 sq ft) • Three 9 storey interconnected office buildings • Two vacant retail units at ground floor level • 100 secure basement car parking spaces, accessed from Mayor Street • Penthouse terraces with vistas across the Docklands • Exceptional waterfront vantage • Maintained to the highest standard • Impressive double height reception 14 15 16 17 AN EPIC VIEW 18 19 ARCHITECTURAL EXCELLENCE EXTERNAL • Cast-in-situ reinforced concrete frame • Curtain wall structure • Full height central atrium with external planar glass wall • Brise soleil to sun exposed elevations • Feature glazed link structure • External courtyard area at atrium level • Mixed soft and hard landscaping with structured shrubbery INTERNAL • Nine 13-person (1000kg) lifts and three additional service lifts • Carpeted raised access floors • Suspended ceilings with recessed lighting • Four-pipe fan coil air conditioning system • Building Management System • Typical floor void depths of 0.20m • Typical floor to ceiling heights of 2.70m • Typical floor to soffit height of 3.25m • Typical slab to slab heights of 3.45m Source: Malcolm Hollis & Murphy Surveys 20 21 22 23 24 25 BUILDING MEASUREMENTS Overall Measurements 1 2 3 PLEASE NOTE The areas outlined below are those measured by Murphy Surveys and are assignable for the purposes of this sale FLOOR Sq M Sq Ft 7TH 1,749.7 18,834 6TH 2,072.5 22,309 5TH 2,313.8 24,905 4TH 2,316.7 24,936 3RD 2,311.7 24,883 2ND 2,503.8 26,951 1ST 2,419.5 26,043 GROUND * 2,050.3 22,069 LR GROUND 3,248.8 34,971 BASEMENT 67.2 723 TOTAL 21,054.0 226,624 Block C1 Block C2 Block C3 FLOOR Sq M Sq Ft FLOOR Sq M Sq Ft FLOOR Sq M Sq Ft 7TH 712.9 7,674 7TH 524.8 5,649 7TH 512.0 5,511 6TH 878.1 9,452 6TH 681.6 7,337 6TH 512.8 5,520 5TH 884.6 9,522 5TH 685.0 7,373 5TH 744.2 8,010 4TH 885.0 9,526 4TH 687.6 7,401 4TH 744.1 8,009 3RD 885.4 9,530 3RD 683.2 7,354 3RD 743.1 7,999 2ND 884.3 9,519 2ND 876.2 9,431 2ND 743.3 8,001 1ST 801.8 8,630 1ST 875.2 9,421 1ST 742.5 7,992 GROUND 756.8 8,146 GROUND 733.7 7,897 GROUND * 559.8 6,026 LR GROUND 1,200.1 12,918 LR GROUND 1,244.1 13,392 LR GROUND 804.6 8,661 BASEMENT 67.2 723 BASEMENT - - BASEMENT - - TOTAL 7,956.2 85,640 TOTAL 6,991.4 75,255 TOTAL 6,106.4 65,729 35 CAR SPACES 35 CAR SPACES 30 CAR SPACES * Ground floor incorporates two retail units which extend to 181.4 sq m (1,954 sq ft) 26 27 Block 1 Block 2 Block 3 FLOOR Penthouse 7 6 PLANS 5 4 3 2 1 G LG B Ground Floor 3RD Floor 28 29 A PROFESSIONAL SERVICES POWERHOUSE TENANCY under three separate coterminus leases. ONE SPENCER DOCK LEASE LEASE LEASE RENT REVIEW CURRENT PASSING DEMISE TENANT TERM START EXPIRY REVIEW DATE REPAIRING RENT PER ANNUM BLOCK C1 PwC 25 YEARS 6 APRIL 2007 5 APRIL 2032 UPWARDS ONLY 6 APRIL 2017 FRI €4,513,189 BLOCK C2 PwC 25 YEARS 6 APRIL 2007 5 APRIL 2032 UPWARDS ONLY 6 APRIL 2017 FRI €3,912,904 BLOCK C3 PwC 25 YEARS 6 APRIL 2007 5 APRIL 2032 UPWARDS ONLY 6 APRIL 2017 FRI €3,353,148 TOTAL €11,779,241 THE COVENANT PwC is the sole tenant of One Spencer Dock, PwC’s clients come from a range of sectors occupying all three blocks. PwC is a multi- IT. It audits over a third of companies listed on in 158 countries and employing over 180,000 people worldwide. pharmaceutical companies in Ireland. It is the largest professional services company Further information can be found on in Ireland, offering a wide range of services www.pwc.ie and www.pwc.com across audit, tax and advisory. As well as Dublin, Waterford, Wexford, Galway and Limerick, employing over 2,000 people. TENURE Freehold 30 31 DUBLIN’S PREMIER BUSINESS DISTRICT 32 33 WHY INVEST IN DUBLIN? • Fastest growing economy in the OECD for the EUROPEAN GDP GROWTH FORECASTS last two years running Source: International Monetary Fund, World Economic Outlook Database, CSO • GDP in excess of 6.0% anticipated in 2015 6 2015 2016 • Unemployment rate has declined from 15.1% 5 in 2012 to 9.6% by mid-year 2015 and is 4 continuing to decline % 3 • Sole English speaking country in the Eurozone 2 which, coupled with 12.5% corporate tax rate, 1 attracts significant Foreign Direct Investment (FDI), particularly to Dublin ITALY SPAIN MALTA LATVIA SLOVAK GREECE CYPRUS FRANCE AUSTRIA ESTONIA FINLAND BELGIUM GERMANY SLOVENIA REPUBLIC PORTUGAL IRELAND LUXEMBOURG NETHERLANDS THE DUBLIN OFFICE MARKET • The Dublin office market now extends EUROPEAN PRIME OFFICE RENTS Q2 2015 to some 4.01 million sq m (43.1 million sq ft) of accommodation 1,400 1,200 • 2014 saw a record volume of 224,445 sq m (2,415,900 sq ft) of take-up being achieved 1,000 in Dublin 800 per sq m pa €592 PER SQ M € 600 • Consistent volume of take-up activity fuelled by Foreign Direct Investment and domestic 400 economic recovery 200 • Average take-up of 167,000 sq m ROME MILAN BERLIN LISBON VIENNA MADRID MUNICH PRAGUE DUBLIN WARSAW HAMBURG BRUSSELS BUDAPEST BARCELONA ROTTERDAM STOCKHOLM AMSTERDAM (1,798,000 sq ft) in Dublin each year COPENHAGEN LONDON - CENTRAL - LONDON FRANKFURT AM MAIN PARIS ILE-DE-FRANCE • Lack of development activity over recent years has LONDON - CENTRAL - CITY fuelled supply shortages in some core locations RENTAL FORECAST • Grade A vacancy rate of 1.82% in Dublin’s Central Business District 800 €759 PER SQ M 750 €708 PER SQ M • Prime office rents in Dublin have risen at a faster 700 €654 PER SQ M pace than any other Eurozone location over the 650 last 12 month period and are up 50% in the last 600 PSM 18 months € 550 500 • Prime rents currently at €592 per sq m 450 (€55 per sq ft) with significant growth potential 400 350 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 (f) 2016 (f) 2017 (f) 34 35 2014 HARBOURMASTER PLACE 2014 2013 2014 2015 2013 - 2015 NEW CENTURY HOUSE A&L GOODBODY GUILD & COMMERZBANK BLOCK R GEORGES DOCK HOUSE 2014 Nº1 acquired by Irish Life GEORGES QUAY Nº2 acquired by Ardstone Acquired by Hibernia REIT Acquired by IPUT Sale Agreed Nº 3 acquired by Irish Life Acquired by Hibernia REIT Nº 5 acquired by New Ireland Nº 6 acquired by IPUT Nº 2 currently for Sale Acquired by Green REIT 2015 2014 THE ANCHORAGE THE OBSERVATORY Acquired by Acquired by Hibernia REIT New Ireland Assurance 2014 2013 KILMORE HOUSE RIVERSIDE 2 2013 2014 1 GRAND CANAL SQUARE 2 GRAND CANAL SQUARE Acquired by Davy Acquired by IPUT 2012 NO.