On the instructions of OFFICE PORTFOLIO WITHIN ADELPHI HOUSE DUN LAOGHAIRE, CO. DUBLIN
LOCATION & IMMEDIATE VICINITY The property is located on Georges Street Upper, which is nestled in the centre of Dun Laoghaire Town Centre in South Co. Dublin. Dun Laoghaire is one of Dublin s most sought after and attractive suburban locations, situated only 8 kilometres south of Dublin City Centre. Adelphi House offers a high quality office environment in a prominent position on the main commercial street in this very popular seaside town. Dun Laoghaire can offer occupiers a host of amenities which are within a short stroll of Adelphi House: Leonardo Coffee Nando s 40 Foot Milano Itsa Bagel Gilbert and Wright Hartleys Restaurant Costa Coffee Cavistons Insomnia Real Gourmet Burger Starbucks Fallon & Byrne Dun Laoghaire is also home to four of Dublin s much sought after yacht clubs and the hugely popular Dun Laoghaire Marina, as well as the magnificent People s Park which is within a short stroll of Adelphi House. TRANSPORTATION In terms of public accessibility, Adelphi House benefits from excellent public transport links including DART and bus services. The DART provides efficient, reliable transport to the City Centre within 20 minutes. The DART also links to the Luas (red line) in Dublin City Centre. Dun Laoghaire is easily accessible for both employees and visitors with an excellent bus service to and from the city centre and to the surrounding suburbs. Bus routes include 46A, 111, 45A, 7, 75, 58C & 74B. The N11 is only 3 km east of Dun Laoghaire and Dublin s M50 motorway can also be accessed via the nearby Cherrywood - Loughlinstown junction. 01 ADELPHI HOUSE, DUN LAOGHAIRE, CO. DUBLIN
DUN LAOGHAIRE HARBOUR N31 ONKSTOWN DART N31 MONKSTOWN N31 DE VESCI GARDENS York rd Cross Ave N31 DUN LAOGHAIRE RAILWAY ST. MICHAEL S HOSPITAL IMC DUN LAOGHAIRE DUN LAOGHAIRE ROYAL MARINE NATIONAL MARITIME MUSEUM OF IRELAND ADELPHI HOUSE PEOPLE S PARK MONKSTOWN SANDYCOVE & GLASTHULE DART SANDYCOVE & GLASTHULE JAMES JOYCE TOWER & MUSEUM HONEYPARK DUN LAOGHAIRE OF ART DESIGN... SALLYNOGGIN ADELPHI HOUSE, DUN LAOGHAIRE, CO. DUBLIN GLENAGEARY DART H 02
THE PROPERTY Adelphi House is a modern, landmark mixed use building which is positioned on Georges Street Upper, one of the main business and shopping streets within the heart of Dun Laoghaire in South Co. Dublin. The entire development is 6 storey over basement, comprising of two retail ground floor units, 9 modern office suites as well as multiple residential apartments which are situated on the upper levels. The investment being sold consists of the commercial office element solely; comprising of 9 office suites which extend to 15,650 Sq. ft (1,453 Sq. m) in total. The office suites have the added benefit of secure basement car parking for 12 cars, which can be accessed from Corrig Avenue. The modern office suites are located on the ground, 1st and 2nd floors and are accessed via their own private entrance from Georges Street Upper. The residential apartments also have a separate private entrance to the development. All the office suites range in size from 1,281 Sq. ft (119 Sq. m) to 3,014 Sq. ft (280 Sq. m). Internally all the suites offer bright and contemporary working environments, which are steadily becoming a mandatory requirement amongst many new companies looking to attract and maintain employees whilst enhancing occupants well being. These office units are well suited to a variety of uses including professional practises and small to medium sized companies. SPECIFICATION Plastered & painted walls Suspended ceilings Recessed light fittings Air conditioning cassettes Perimeter trunking Ceramic tiling Timber panelling Lift access Controlled access CCTV cameras EXISTING OCCUPIERS Existing occupiers include: Eurotext Translations Ltd. Coface Global Medics Profitero Limited Belgrove Homes Limited Tile Films Limited PLR Worldwide Sales Limited We note that two new lettings are currently under negotiation. Current passing rent - 213,256 per annum Estimated Rental Value (ERV) - 255,940 per annum Net Yield of 9% at ERV The building is further enhanced by Leonardo Coffee, who are in the process of expanding their retail offering to include the second ground floor retail unit. 03 ADELPHI HOUSE, DUN LAOGHAIRE, CO. DUBLIN
ADELPHI HOUSE, DUN LAOGHAIRE, CO. DUBLIN 04
INVESTMENT SUMMARY & SALES FORECAST Unit Size Sq. M Size Sq. Ft Tenant Total Rent ex. VAT Rent per Sq. Ft Lease Commencement Term Break Option Car Parking Spaces Total Income per annum Ground Floor (Unit O) 321 3,455 Global Medics Ireland Limited 44,610 12.91 13 Oct 2014 5 N/A No. 85 & 86 44,610 1st Floor (Unit 1) 139 1,496 Profitero Limited 23,940 16.00 16 Jun 2015 5 N/A No. 42 23,940 1st Floor (Unit 2) 151 1,625 Belgrove Homes Limited 27,375 16.85 03 Jun 2015 10 N/A No. 161 & 182 27,375 1st Floor (Unit 3) 119 1,281 Confidential - Under Negotiation 17,934 14.00 Yet to Commence - N/A No. 151 17,934 1st Floor (Unit 4) 163 1,755 Eurotext Translations Limited 38,610 22.00 08 Dec 2009 10 08 Dec 2014 No. 150 38,610 2nd Floor (Unit 5) 117 1,259 Coface* Services Ireland Limited 29,000 23.03 01 Feb 2011 5 01 Dec 2018 No. 159 29,000 2nd Floor (Unit 6) 164 1,765 PLR Worldwide Sales Limited 27,725 15.71 09 Mar 2015 5 08 Mar 2018 No. 181 27,725 2nd Floor (Unit 7) 136 1,464 Tile Films Limited 21,996 15.02 04 Aug 2015 10 Year 5 No. 152 & 153 21,996 2nd Floor (Unit 8) 144 1,550 Confidential - Under Negotiation 24,750 15.97 Yet to Commence 10 Year 5 No. 148 24,750 Total Size 15,650 Estimated Rental Value 255,940 *New lease in legals. Term to 01 Dec 2018. All other terms remain unchanged (including rent). 05 ADELPHI HOUSE, DUN LAOGHAIRE, CO. DUBLIN
FLOORPLANS GROUND FLOOR FIRST FLOOR UNDER NEGOTIATION SECOND FLOOR UNDER NEGOTIATION n Office Suites n Residential Apartments n Retail Units n Common Areas ADELPHI HOUSE, DUN LAOGHAIRE, CO. DUBLIN 06
CONTACT TITLE Leasehold Conor Whelan MRICS MSCSI Director (01) 637 55 55 conor.whelan@qre.ie Aishling O Hanlon BSc Surv Surveyor (01) 637 55 55 aishling.ohanlon@qre.ie VAT Exclusive of VAT SOLICITORS Eversheds, One Earlsfort Centre, Earlsfort Terrace, Dublin 2 (Attn: Marie O Riordan) VENDOR Hibernia Reit Plc qre.ie BER GUIDE PRICE 2,750,000 VIEWING Viewings are strictly to be arranged through the sole selling agents. PSRA Registration No. 001798 The agents on their own behalf and on behalf of the vendor/lessor of this property, give notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither the agents nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Any representation including descriptions, dimensions, references to condition, permissions or licenses for uses or occupation, access and any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness.