City Block 3 Docklands Dublin

CB

3

DOCKLANDS DUBLIN

COMMERCIAL & RESIDENTIAL DEVELOPMENT OPPORTUNITY

CB

3

DOCKLANDS DUBLIN

C OMME RCI AL SI TE

Indicative Outline Only

2

CONTENTS

5 Introduction

8 Location

10 Accessibility

12 Docklands Occupiers

14 Dublin Amenities

16 Strategic Development Zone

18 Lot 1 - Residential Site

26 Residential Market Overview

29 R ESI DEN TI A L S I T E

Lot 2 - Commercial Site

34 Office Market Overview

37 Contacts & Further Information

3

CB3 DOCKLANDS DUBLIN

LOT 2 - COMMERCIAL

LOT 1 - RESIDENTIAL

Indicative Outline Only

4

INTRODUCTION

AN EXCEPTIONAL OPPORTUNITY TO ACQUIRE A KEY LANDBANK IN THE DOCKLANDS WITH PLANNING PERMISSION

On the instructions of David Carson Statutory Receiver, Cushman & Wakefield and Savills are pleased to present CB3 Docklands, an exciting and rare opportunity to acquire two adjacent significant sites in the Docklands with planning permission.

CB3 Docklands represents a unique opportunity to develop a key city centre landbank of approximately 2.39 hectares (5.91 acres) in its entirety. This is one of the most prominent large scale development opportunities within the City Centre, strategically located within the heart of the Docklands.

This exceptional development opportunity is offered for sale in three lots;

LOT 1 1.44 hectares (3.55 acres) with planning permission for approx. 347 no. residential units, hereinafter referred to as ‘The Residential Site’

LOT 2

LOT 3 The Entire

0.95 hectares (2.35 acres) with planning permission for a substantial commercial scheme comprising predominately office accommodation over three blocks extending to approximately 30,890 sq m (332,497 sq ft) NIA’ hereinafter referred to as ‘The Commercial Site’

Securing a site with such scale and in such a central location is a real rarity in the Dublin land market. This sale offers the purchaser(s) the opportunity to acquire either the residential or commercial site solely, or the combined holding.

5

S T R O N G G R O W T H A C R O S S L E A D I N G I N D I C ATO R S

€ GDP rising by 7.8% per annum

Ireland continues to experience the fastest rate of economic growth in the EU

66,800 net new jobs added in the last twelve months

Irelands’s population growing by over 50,000 persons per annum

D E M A N D F O R P R I VAT E R E N T E D A C C O M M O D AT I O N

32,500 44% additional PRS households in Dublin since 2012

of Ireland’s urban dwellers live in Dublin

85% Almost ¼ of all households in Dublin now rent privately

Lack of institutional Landlords – 85% of landlords in Ireland own two or fewer properties

R E S I D E N T I A L R E N TA L M A R K E T C O N D I T I O N S

5.2% Fewer than 1,350 properties available to rent in Dublin in February 2018 (Daft.ie)

Near-record low vacancy rate in Dublin of 1.4%

TRANSPORT HUB

6

60% below the longrun average number of available properties

Dublin Rents increasing approx.

5.2% per annum

LUAS

DUBLIN BIKE

1 minute walk

2 minutes walk

CB3 DOCKLANDS DUBLIN

R E C O R D O F F I C E TA K E-U P I N D U B L I N

13,600 additional office based jobs created in Dublin in last two years

A record 305,000 sq m of office space taken-up in 2017

ICT, prof. services and finance and real estate companies all significant takers of space

Grade A vacancy in CBD (Inc. Docklands) 3.9%

OFFICE RENTS

€678 psm Headline Rents CBD

Prime Office rents increased 5% in 2017

SOLID CONSUMER SPENDING TRENDS

YEARS

4 Real aggregate household disposable income growth of over 5% in 2017

Sustained consumer credit growth further boosting consumers’ spending power

BUS

RAIL

2 minutes walk

2 minutes walk

4 consecutive years of annual consumer spending growth

Core (ex. Motors) retail sales volumes growing by 6.2% per annum

PORT

AIRPORT

5 minutes walk

12 minutes drive

7

4

CB

3

DOCKLANDS DUBLIN

7 3

6

1 2

8

5

LOT

LO C AT I O N 1 DUBLIN PORT 7 CAPITAL DOCK

2 GIBSON HOTEL 8 CITY BLOCK 9

12 BORD GAIS ENERGY THEATRE

8

3

3 ARENA

4 AVIVA STADIUM

9 DUBLIN LANDINGS 13 CONVENTION CENTRE

5 POINT CAMPUS

10 CENTRAL BANK 14 SPENCER DOCK

6 NORTH DOCK

11 GRAND CANAL DOCK 15 SPENCER PLACE

11

12

13

10 9 15

14

T 2 - COMMERCIAL LOT 1 - RESIDENTIAL

Indicative Outline Only

The property is situated in the heart of Dublin Docklands – a highly sought after environment to both live and work The Docklands area is home to the IFSC, one of the world’s leading financial services centres and is considered one of Dublin’s premier business addresses. The central location offers residents and staff some of the best amenities and facilities the city has to offer on its doorstep. The Point Village Shopping Centre, Odeon Cinema and Gibson Hotel are located adjacent to the site while a host of bars, restaurants and amenities are located within CHQ and Custom House Quay, a short stroll away.

9

ACCESSIBILITY

Luas Cross City

Dublin Bike North Wall Quay 2 minutes

No

ST RE E

T

Luas Spencer Dock 1 minute

DO

RS ET

Broadstone

L NE R PA

L

ET RE T S

Dominick

Co

T

O’Connell Upper

CAPE

L ST

LS NEL N O O’C

Marlborough Abbey Street

Busaras

G

O’Connell GPO Jervis Tara Street

Four Courts Westmoreland Trinity

10

ET STR E FTO N GRA

AUNG IER ST REET

T STREE DAME

Dawson

CITY Q UAY

Dublin Bus orth Wall Quay 2 minutes

Air Coach North Wall Quay 2 minutes

Docklands Rail Station 2 minutes

Connolly Rail Station 8 minutes

Dublin Port 5 minutes

EA ST

RO AD

M50

onnolly Docklands

George’s Dock

The Point

Mayor Square Spencer Dock

G RA ND C ANA L ST LOW Pearse ER

MO UN

TS TL OW ER

Grand Canal Dock

11

21

23

26 27

20

22

40

19

39

25 38

18 17 16

14

41

29

28 30

31

37 32

15

13 44 11

43 12

42

9 8

10

4

7 6

1 Yahoo 2 Voxpro

6 Airbnb 7 Accenture

3 Bvlgari 4 Matheson

8 TripAdvisor 9 Logmein

5 State Street

10 HSBC

12

11 William Fry

15 Beauchamps

12 Capita

16 Three

13 Facebook

17 Bloomberg

14 McCann Fitzgerald

18 Morgan Stanley 19 Grant Thornton

20 Société Générale 21 Susquehanna Bank 22 Depfa Bank 23 Zurich

24 KPMG

25 Citibank

26 JP Morg 27 Raboba

28 A&L Go

33 34 3

1

35 2 5 36

DOCKLANDS OCCUPIERS

k

29 BNY Mellon 30 AIG

gan

31 Hubspot

ank

32 PwC

33 Central Bank

of Ireland 34 NTMA 35 The Gibson Hotel

36 3Arena 37 Convention

Centre Dublin 38 The Spencer Hotel

39 Hilton Garden Inn 40 CHQ Building 41 The Clayton Hotel

42 The Marker Hotel 43 Bord Gais

Energy Theatre 44 Maldron Hotel

oodbody

13

CB3 DOCKLANDS DUBLIN

1 RIVER LIFFEY / 2 3 ARENA & POINT SHOPPING CENTRE / 3 CONVENTION CENTRE / 4 LUAS

2

3

5

6

/ 5 ULSTER BANK / 6 GIBSON HOTEL & ODEON CINEMA / 7 DUBLIN LANDINGS / 8 THE SPIRE

1

4

7

8

1

S T R AT E G I C D E V E LO P M E N T ZO N E The statutory development plan for CB3 Docklands is the Dublin City Development Plan 2016-2022, which incorporates the North Lotts & Grand Canal Dock SDZ Planning Scheme.

The SDZ has acted as a catalyst for development, and the North Lotts & Grand Canal Dock are now at varying stages of the planning and development process, with approximately half of these previously undeveloped lands either completed or under construction. When the SDZ was enacted in 2014, there were approx. 58 acres of undeveloped lands.

5

Since 2014, planning permission has been granted for over 1700 residential units, with further potential for more than 660 units, ultimately catering for a population of approximately 5,000.

On the commercial side, planning permission has been granted for over 3.6 million square feet of office space, which has the potential to accommodate 21,000 employees, with further potential for approximately 1.4 million square feet of space.

The subject holding is designated City Block 3 – specifically 3A, 3B, 3C, 3E and the majority of 3F within the SDZ. The remainder of City Block 3 comprises terraced housing and North Bank House.

12

13

16

1

City Block 9

8

Capital Dock

2

The EXO Building

9

The Reflector

3

Spencer Place

10

76 SJRQ

4

Central Bank

11

6 Hanover Quay

5

The Point Campus

12

5 Hanover Quay

6

North Dock

13

Bolands Quay

7

Dublin Landings

10 11

9

2

3

CB3

4

DOCKLANDS DUBLIN

6

7

8

9

10

11

12

13

3

4 7 8

5 1

6

2

17

CB3 DOCKLANDS DUBLIN

18

LOT 1 - RESIDENTIAL SITE The Residential Site extends to approximately 1.44 hectares (3.55 acres) and occupies the western half of the landbank with frontage to Mayor Street Upper, New Wapping Street and Sheriff Street Upper.

The Residential Site benefits from planning permission for region 347 no. residential units (360 units were applied for and 347 reflects compliance with conditions 4 & 5 of Planning Ref. No. DSDZ3357/17) comprising 340 no. apartments (103 no. 1 beds, 191 no. 2 beds and 46 no. 3 beds) and 7 no. 3 bed two storey houses.

Potential to significantly enhance and add value through design and planning refinement to increase the density and mix of units to between 406 and 456 units, following the revision of the apartment guidelines announced recently. A feasibility study as undertaken by OMP Architects is available to demonstrate the potential for an increased quantum of units based on the new apartment guidelines.

Indicative Site Plan – Residential Site

19

CB

3

DOCKLANDS DUBLIN

20

DUBLIN DOCKLANDS A LO C AT I O N W H I C H O F F E R S S O M E OF THE BEST AMENITIES THE CITY HAS TO OFFER, ON ITS DOORSTEP

21

CB3 DOCKLANDS DUBLIN

2.0

Sheriff Street Upper

APARTMENTS

+2.500

+2095

+2.105

+2.117

2300

+2.211

+2.245

3740

10750

3799

2050

+2.150

3871

28900

3857

2300

4004

10200

SITE NOTICE LOCATION

28900

+2.308

2050

+2.500

1 B 1BED 53.6m²

LANDLORD ELECTRICAL CUPBOARD

TYPE 2A

2BED 87.3m²

KITCHEN

5 B BEDROOM 13.0m²

STORE 3.8m²

FFL +4.000

Private Terrace 17.1m²

26200

STORE 4.9m ²

STAFF ROOM/ CHANGING 11.1m²

MILK PREP 3.8m²

PUBLIC WC 3.2m²

7no BABIES 25.3m²

PRAM STORE 3.2m²

OFFICE/ MEETING 9.3m²

CRECHE 68 CHILDREN 299.6m²

STORE 2.5m²

+3.600 +3.750

LOBBY 5m²

18851 17000

12no TODDLERS 33.8m²

10no PRE-SCHOOLERS 25.8m² CHILDREN WC 12.6m²

UTILITY 3.5m²

25000

BEDROOM 11.5m²

TYPE 2A

North Bank

LANDLORD ELECTRICAL CUPBOARD

39no 2-3YO 90.7m²

Apartments

+3.850

LOBBY

BLOCK 3A1 Landlord's Equipment Room 12.1m²

BEDROOM 13.0m² BEDROOM 13.7m²

STORE 1.7m²

Landlord's Switchroom 37.5m²

STORE 3.1m²

STORE 3.1m² LIVING/ DINING 33.1m² UTILITY 3.0m²

51 A1 2BED 79.1m²

KITCHEN

SITE NOTICE LOCATION

FFL +4.000 55 A2 2BED 79.1m²

KITCHEN

63000

57 A2 1BED 56.8m²

TYPE 1

STORE 1.8m²

STORAGE 2.2m²

DOUBLE HEIGHT CONCIERGE/ TENANT AMENITY 186m²

BEDROOM 11.4m²

BEDROOM 12.2m²

LIVING/ DINING 27.7m²

Private Terrace 13.5m²

Private Terrace 11.9m²

+3.850

10000 2000

KITCHEN

2BED 79.8m²

STORE 3.4m²

UTILITY 2.6m²

2BED 79.2m²

PARK

KITCHEN

6 D STORE 3.5m²

17100

5 D

Proposed fire tender access road permitted under DSDZ2642/16

Private Terrace 28.9m²

UTILITY 3.1m² LIVING/ DINING 30.1m²

TYPE 1A

25394

LIVING/ DINING 31.0m²

BEDROOM 13.0m²

BEDROOM 11.7m²

TYPE 3

LV Switchroom 10.5m²

ESB Substation 14m² WC

UTILITY 3.2m²

PORCH

LOBBY LIVING/ DINING 37.2m²

STORAGE 1.3m²

Alexander Terrace KITCHEN

Private Terrace 11.6m²

BEDROOM 13.1m²

BEDROOM 11.6m²

2BED 77.8m²

LIVING/ DINING 27.3m²

KITCHEN

Private Terrace 11.4m²

STORAGE 1.3m²

39825

LIVING/ DINING 37.2m²

BLOCK 3D2

FFL +4.000

STORE 1.8m²

3 D

LIVING/ DINING 33.4m²

Private Terrace 11.4m²

13249 10721 10231

2BED 77.8m²

extent of basement below

TYPE 4

KITCHEN

WC

UTILITY 3.2m²

PORCH

TYPE 1

LOBBY

LANDLORD ELECTRICAL CUPBOARD

FFL +4.000

17620

UTILITY 3.6m²

STORE 0.8m² BEDROOM 12.3m²

CIVIC PARK 2,259 m

2000

KITCHEN

BEDROOM 13.2m²

+3.850

6750 39825

WC

UTILITY 3.2m²

PORCH

LOBBY

BEDROOM 11.4m²

7 D

1BED 50.5m²

Private Terrace 11m²

2 D1

5951

+3.850

APARTMENT ELECTRICAL CUPBOARD

KITCHEN

2650 TYPE 4

2 D

LIVING/ DINING 37.2m²

2000

BEDROOM 11.4m²

STORE 3.0m²

BEDROOM 13.1m²

STORE 3.4m²

2BED 79.8m²

1 D

TYPE 3

UTILITY 2.6m²

TYPE 1A

2BED 79.2m²

15975

KITCHEN PORCH

LOBBY

WC

UTILITY 3.2m² STORAGE 1.3m²

STORE 3.5m²

KITCHEN

4 D1

8 D

1BED 52.0m² TYPE 2A

BEDROOM 11.6m²

Private Terrace 6m²

UTILITY 3.6m²

BLOCK 3D1 +3.850

LIVING/ DINING 28.8m²

TYPE 2

3 D1

KITCHEN

BEDROOM 13.2m²

500

LIVING/ DINING 30.1m²

47051

KITCHEN

UTILITY 3.1m²

+3.850

15500

KITCHEN

+3.850

20625

+3.850

LIVING/ DINING 37.2m²

STORAGE 1.3m²

GARDEN 51.0m² +3.850

PORCH

LOBBY

FFL +4.000

6193 5754

PORCH

Communal Open Space Area 846 m² WC

UTILITY 3.2m²

8706

14038

19000

LIVING/ DINING 37.2m²

GARDEN 51.3m² +3.850 5 D1

KITCHEN

Private Terrace 22.1m²

STORAGE 1.3m²

6214 5745

BEDROOM 11.7m²

BEDROOM 13.0m²

OUTLINE OF EXISTING EXCAVATION

FFL +4.000

PORCH

LOBBY

WC

UTILITY 3.2m²

8709

TYPE 4

Private Terrace 32.6m² LIVING/ DINING 31.0m²

46771

UTILITY 3.0m²

STORE 1.8m²

4 D

LIVING/ DINING 33.4m²

LIVING/ DINING 37.2m²

STORAGE 1.3m²

+3.850

TYPE 1

GARDEN 42.3m² +3.850

BEDROOM 12.3m²

TYPE 2

FFL +4.000

6343 4747

COMMERCIAL SITE

14000

STORE 1.8m²

KITCHEN

BALCONY 7.6m²

3 E

KITCHEN

LIVING/ DINING 29.6m²

5 E

1BED 56.9m²

2BED 74.9m²

Private Terrace 11.8m² UTILITY 2.0m²

UTILITY 4.0m²

TYPE 2A

4950

BEDROOM 11.8m²

TYPE 4 STORE 2.7m² TYPE 2

STORE 2.7m²

LIVING/ DINING 30.1m²

7880 7691

5850

4 E 3BED 112.8m²

BEDROOM 11.5m²

TYPE 1

2000

STORE 1.0m²

2525 25875

STORE 2.1m²

7450 BEDROOM 13.1m² TYPE 3 STORE 2.7m²

2 E

KITCHEN

2BED 76.5m²

TYPE 2A

STORAGE 1.0m²

TYPE 3

BEDROOM 13.1m²

BLOCK 3E2 FFL +3.400

APARTMENT ELECTRICAL CUPBOARD

BEDROOM 11.4m²

BEDROOM 13.0m²

KITCHEN Private Terrace 25.5m²

LIVING/ DINING 31.3m²

2100

+3.250

4050

+3.850

BEDROOM 11.4m²

UTILITY 3.6m ²

2BED 80.8m²

LANDLORD ELECTRICAL CUPBOARD

Private Terrace 7.9m²

17400

6 E

TYPE 1A

TYPE 2A

1 E

Private Terrace 7.9m²

+3.000

UTILITY 3.4m²

LIVING/ DINING 30.6m²

LIVING/ DINING 31m² BEDROOM 11.5m²

STORE 3.0m²

STORE 1.9m²

TYPE 3

24090

FFL +4.000

2BED 78.8m²

10750

UTILITY 3.4m²

KITCHEN

2100

TYPE 3 BEDROOM 14.7m²

6750

13950

1111 3597

16990

BEDROOM 13.3m²

UTILITY 2.0m²

LIVING/ DINING 40.5m²

9000

KITCHEN

13233

BEDROOM 11.4m²

KITCHEN

BALCONY 9.0m²

57882

BEDROOM 11.4m²

7 D1

9000

5572

GARDEN 58.3m² +3.850

23000

11500 LIVING/ DINING 37.2m²

STORAGE 1.3m²

FFL +4.000

LOBBY

WC

UTILITY 3.2m²

KITCHEN

6 D1

8600 6218 5643

SITE NOTICE LOCATION

SITE NOTICE LOCATION

30450

3916

APARTMENTS

+2.600

+3.250

14000

44746

17736

2.5

Mayor Street Upper

Site Plan Residential Scheme (Highlighted in Red)

22

4

61000

2000 TYPE 4

13320

1

5

extent of basement below

19000 3850

+3.850

TYPE 2

GARDEN 51.2m² +3.850

+3.850

+3.850

11000 5150

FFL +4.000

FFL +4.000

18598

+3.850

STORE 0.8m²

GARDEN 77.1m² +3.850

16998

37800

6200

Private Terrace 18.9m²

1 D1

6228 5737

Ramp

107000

GARDEN 42.9m² +3.850

8710

ESB Substation 14m²

Cafe 129.1m² KITCHEN

+3.850

6387 4697

HOUSES

FFL +4.000

BLOCK 3B

STUDY 7.9m ²

1BED+ 64.0m² 58 A2

UTILITY 2.2m²

Generator Room 26.4m²

26008

2.0

LV Switchroom 10.5m²

LIVING/ DINING 32.4m²

LIVING/ DINING 31.0m²

Private Terrace 10.5m²

STORE 7.5m²

BLOCK 3A2

FFL +4.000

UTILITY 1.8m²

56 A2 2BED 76.2m²

BEDROOM 11.4m²

6248

5461

Private Terrace 10.4m²

STORE 3.0m²

TYPE 3A

LIVING/ DINING 33.1m² UTILITY 3.0m²

RAMP @ 1:21

KITCHEN

UTILITY 2.3m²

TYPE 1A

TYPE 2

Life Safety Switchroom 17.5m²

TYPE 1A

+3.850 LOBBY

TYPE 2A

TYPE 3A

CAR RAMP

STORAGE 1.1m² TYPE 3A

Incoming Comms Room 14m²

BICYCLE RAMP

OPEN TO BELOW

100004

BEDROOM 12.3m²

44000

TYPE 2

BEDROOM 13.0m²

24325

+3.850 BEDROOM 12.3m²

LANDLORD ELECTRICAL CUPBOARD

TYPE 3

APARTMENT ELECTRICAL CUPBOARD

STAFF WC 1.8m²

KITCHEN 8.6m²

BEDROOM 13.0m²

KITCHEN 6.2m²

54 A2 2BED 88.6m²

NAPPY CHANGING 3.6m²

SLEEP ROOM 17.5m²

Private Terrace 7.7m²

LIVING/ DINING 39.8m²

LIVING/ DINING 36.7m²

Private Terrace 7.6m²

BEDROOM 11.4m²

UTILITY 1.9m²

FFL +4.000

STORE 0.8m²

TYPE 3A

APARTMENT ELECTRICAL CUPBOARD

STORE 3.0m²

TYPE 3A

BEDROOM 12.3m²

TYPE 1

2BED 91.8m² 4 A2

UTILITY 3.5m²

Private Terrace 10.2m²

KITCHEN

KITCHEN 6.2m²

BEDROOM 13.0m²

LIVING/ DINING 41.1m²

STORE 2.5m² BEDROOM 14.1m²

STORE 2.5m² BEDROOM 13.0m²

UTILITY 3.5m²

3 B

LIVING/ DINING 32.8m²

5 A2

STORE 1.8m²

26200

BEDROOM 11.5m²

Communal Open Space Area 532 m²

KITCHEN

2BED 77.2m²

STORE 3.5m²

Private Terrace 10.2m²

BEDROOM 11.4m²

UTILITY 3.0m²

2BED 90.9m²

53825

2BED 73.9m²

TYPE 2A

BLOCK 3B BEDROOM 11.5m²

LIVING/ DINING 27.3m²

4 B

1BED 50.4m²

LOBBY

+3.850

3242

3600

3 A2

BEDROOM 11.5m²

TYPE 3A

49 A1 3BED 115.3m²

Private Terrace 18.9m²

Private Terrace 14.1m²

+3.850

BEDROOM 13.2m²

17080

UTILITY 2.0m²

25900

KITCHEN

STORAGE 0.9m²

3BED 99.3m²

LIVING/ DINING 34.2m²

LAUNDRY

Private Terrace 7.6m²

BEDROOM 11.4m²

Private Terrace 10.8m²

+2.250

BEDROOM 11.6m²

2000 UTILITY 3.5m²

FFL +4.000

KITCHEN

LIVING/ DINING 31.5m²

BEDROOM 11.5m²

TYPE 2

53575

BLOCK 3A2

BEDROOM 13.2m²

2000

LIVING/ DINING 45.7m²

KITCHEN 6.2m²

+2.250

7024

LOBBY

+3.850

TYPE 2A

UTILITY 3.5m²

2000

TYPE 3A

Private Terrace 18.9m²

STORE 2.5m²

50 1BED A1 50.3m²

BEDROOM 12.8m²

APARTMENT ELECTRICAL CUPBOARD

TYPE 2

UTILITY 3.0m²

UTILITY 3.5m²

UTILITY 2.2m²

KITCHEN

LIVING/ DINING 31.5m²

UTILITY 3.0m²

APARTMENT ELECTRICAL CUPBOARD

TYPE 2

Private Terrace 14.2m²

Communal Open Space Area 555 m²

Private Terrace 6.4m²

5 A1

KITCHEN

TYPE 2

STORE 3.2m²

TYPE 2A

1BED 52.0m²

2BED 83.8m²

KITCHEN 10.6m²

2 B

TYPE 4

KITCHEN

1BED 52.0m²

UTILITY 3.0m²

STORE 2.6m²

BEDROOM 13.0m²

25000

LIVING/ DINING 28.8m²

17341

+2.250

KITCHEN

STORE 2.7m²

BEDROOM 13.9m²

7 A2

2BED 87.3m²

LANDLORD ELECTRICAL CUPBOARD

BEDROOM 11.7m²

TYPE 2A

FFL +4.000

STORE 3.8m²

+3.850

2000

TYPE 2A

3 A1

KITCHEN

LIVING/ DINING 26.6m²

1BED 53.6m²

KITCHEN

APARTMENT ELECTRICAL CUPBOARD

STORE 2.5m²

Private Terrace 7.1m²

3BED 99.3m²

TYPE 3A

UTILITY 3.2m²

19130

Private Terrace 14.8m²

KITCHEN

LOBBY

BLOCK 3A1 LANDLORD ELECTRICAL CUPBOARD

TYPE 3

BEDROOM 11.5m²

UTILITY 2.2m²

2 A2

LANDLORD ELECTRICAL CUPBOARD

1BED 50.5m²

LIVING/ DINING 38.0m²

BEDROOM 13.0m²

KITCHEN

LIVING/ DINING 34.2m²

4 A1 BALCONY 7.2m²

TYPE 3

1 A2

BEDROOM 11.6m²

UTILITY 2.5m²

LIVING/ DINING 28.8m²

6 A2 3BED 123.0m²

UTILITY 2.0m²

FFL +4.000

UTILITY 3.0m²

BEDROOM 11.4m²

62864

BEDROOM 12.8m²

2000

2 A1

UTILITY 3.0m²

STORAGE 0.9m²

LIVING/ DINING 31.5m²

KITCHEN

Private Terrace 6.4m²

KITCHEN 10.6m²

STORE 3.2m²

Private Terrace 5.5m²

LIVING/ DINING 38.3m²

BEDROOM 11.4m²

STORAGE 1.1m²

TYPE 2

LIVING/ DINING 27.3m²

BEDROOM 11.4m²

STORE 2.7m ²

BEDROOM 13.9m²

STORE 2.6m²

STORE 3.8m²

KITCHEN Private Terrace 6.4m²

7 A1 1BED 53.6m²

KITCHEN

TYPE 2

TYPE 3A

UTILITY 3.2m²

2BED 87.3m²

1 A1 BEDROOM 13.0m²

Private Terrace 13.9m²

STORAGE 1.1m²

STORAGE 1.1m²

KITCHEN

6 A1 3BED 123.0m²

BEDROOM 11.4m² LIVING/ DINING 30.4m²

TYPE 2A

Private Terrace 8.1m²

UTILITY 3.0m²

TYPE 2

TYPE 3A

UTILITY 2.0m²

Private Terrace 5.5m²

Private Terrace 15.0m²

TYPE 2A

2379

LIVING/ DINING 38.3m²

BEDROOM 11.5m²

LIVING/ DINING 30.4m²

TYPE 3

BEDROOM 11.4m² LIVING/ DINING 30.4m²

APARTMENT ELECTRICAL CUPBOARD

BEDROOM 11.4m²

TYPE 2

BEDROOM 11.5m²

TYPE 2A

LIVING/ DINING 38.3m²

New Wapping Street

8750

+2.425

4742

Castleforbes Road

+2.075

3991

2050

3832

8750

17414

2450

SITE NOTICE LOCATION

107000

4003

4763

16195

131575

SITE NOTICE LOCATION

3.2

2.5

15802

17027

1.9

+3.700

+3.800

+3.900

+3.650

THE RESIDENTIAL DEVELOPMENT OPPORTUNITY The Residential Site benefits from planning permission for 347 no. residential units (Planning Ref. No. DSDZ3357/17) comprising 340 no. apartments (103 no. 1 beds, 191 no. 2 beds and 46 no. 3 beds) and 7 no. 3 bed two storey houses. Potential to significantly enhance and add value through design and planning refinement to increase the density and mix of units to between 406 and 456 units, following the revision of the apartment guidelines announced recently.

The permitted scheme also includes tenant amenity accommodation, a Crèche and a CafÊ. We have provided a summary schedule of accommodation below with a detailed schedule and full planning pack available from our dedicated website.

360 residential units were applied for, however 347 units reflects implementation of condition 4 and 5 attached to the existing planning permission. Further information is available on the dedicated website in this regard.

3.2

S C H E D U L E O F A C C O M M O D AT I O N Dual 3Bed Total Aspect

Block 3A1

1 Bed

2 Bed

Level 00

5

3

2

10

Level 01

5

5

1

Level 02

4

6

Level 03

4

Level 04

Dual 3Bed Total Aspect

%

Block 3D2

1 Bed

2 Bed

6

60.0

Level 00

2

6

0

8

4

50.0

11

5

45.5

Level 01

1

7

0

8

4

50.0

2

12

6

50.0

Level 02

1

7

0

8

4

50.0

6

2

12

6

50.0

Level 03

1

7

0

8

4

50.0

4

6

2

12

6

50.0

Level 04

1

7

0

8

4

50.0

Level 05

3

6

2

11

6

54.5

Level 05

0

7

0

7

4

57.1

Level 06

3

3

3

9

5

55.6

Total

6

41

0

47

24

51.1

Total

28

35

14

77

40

51.9 Block 3E2

1 Bed

2 Bed

Level 00

1

4

1

6

3

50.0

Castleforbes Square

Dual 3Bed Total Aspect

%

Block 3A2

1 Bed

2 Bed

Level 00

3

7

2

12

9

75.0

Level 01

2

4

1

7

3

42.9

Level 01

3

6

3

12

7

58.3

Level 02

2

4

1

7

3

42.9

Level 02

6

8

2

16

9

56.3

Level 03

2

3

1

6

3

50.0

Level 03

6

8

2

16

9

56.3

Level 04

2

3

1

6

3

50.0

Level 04

6

8

2

16

8

50.0

Level 05

0

3

2

5

3

60.0

Level 05

4

8

2

14

8

57.1

Total

9

21

7

37

18

48.6

Level 06

4

6

1

11

6

54.5

Total

32

51

14

97

56

57.7

Apartments Total

103

191

46

340

182

53.5

Block 3B

1 Bed

2 Bed

Houses

1 Bed

2 Bed

Level 00

2

2

0

4

3

75.0

Level 00

Level 01

5

6

1

12

6

50.0

Total

0

0

7

7

Level 02

5

7

2

14

7

50.0

Total Units

103

191

53

347

Level 03

5

7

2

14

7

50.0

Level 04

5

7

2

14

7

50.0

Level 05

5

7

2

14

7

50.0

Level 06

1

7

2

10

7

70.0

Total

28

43

11

82

44

53.7

Dual 3Bed Total Aspect

%

Dual 3Bed Total Aspect

%

%

3 Bed Total

%

7

Schedule of Accommodation (Ref. No. DSDZ3357/17)

23

APARTMENT T YPOLOGIES

1 & 2 Bed Single Aspect Units

2 Bed Corner Units

2 Bed Dual Aspect & 3 Bed Corner Units

24

CB3 DOCKLANDS DUBLIN

HOUSE TYPOLOGY

GF & FF House Plan

25

CB3 DOCKLANDS DUBLIN

RESIDENTIAL MARKET OVERVIEW Introduction Ireland continues to experience the fastest rate of economic growth in the EU with total output. Close to 67,000 net new jobs have been created in the last twelve months and total employment is set to surpass its boomtime peak before the year is out.

Strong economic momentum is set to continue with consensus GDP growth forecasts for Ireland of 4.1% for 2018 and 3.4% for 2019.

While strong population growth led to the formation of 12,698 net additional households in Dublin between the Census years of 2011-2016, housing construction failed to keep up. In total just 3,088 additional housing units were delivered in the capital over the same period.

Notwithstanding the recent pick-up in house building activity, once we factor in demand implied by population growth, along with buildings required to replace dilapidated units and to compensate for the fact that we haven’t built enough homes for eight years, it is clear that Dublin’s housing market remains undersupplied.

Residential Market Demand for rental property is dictated by two factors, population growth and the proportion of the population that chooses to rent privately over competing tenure types such as owner-occupied housing.

Latest estimates show that Dublin’s population has grown very rapidly in recent years. A net additional 97,300 persons have been added to the headcount in the last five years and the population is currently expanding by around 15,500 persons per annum.

Our analysis shows that vacancy in Dublin’s private rented sector (PRS) has been below 2% for almost four years and is currently just 1.41% (see Figure 2). This is significantly below the Natural Vacancy Rate (NVR) which we econometrically estimate to be 5.3% in the capital. Theory suggests that if the actual vacancy rate lies beneath the NVR the market is undersupplied and rents will be rising, and that’s exactly what is happening.

Vacancy Rate in Dublin’s Private Rented Sector 10 9

Population of Dublin

8

%

7 5

1,400

4

1,350

3 2

1,300

1

1,250

2017Q2

2016Q2

2016Q4

2015Q2

2015Q4

2014Q2

2014Q4

2013Q2

2013Q4

2012Q2

2012Q4

2011Q2

Dublin VR%

1,100

2011Q4

2010Q2

2010Q4

2009Q2

2009Q4

1,150

2008Q2

1,200

2008Q4

2007Q2

0 2007Q4

(000s)

6

NVR Dublin%

1,050

26

2017Q1

2017Q4

2015Q3

2016Q2

2014Q1

2014Q4

2013Q2

2012Q3

2011Q1

2011Q4

2010Q2

2009Q3

2008Q1

2008Q4

2007Q2

2006Q3

2005Q1

2005Q4

2003Q3

2004Q2

2002Q1

2002Q4

2001Q2

2000Q3

These legislative changes allow for the possibility of a divergence between average rental growth rates and rental growth rates on newly let or new build properties and would appear to explain why rental growth in Dublin continues to exceed the regulated growth rate of 4% per annum.

1999Q1

Since 2012 strong house price inflation has made homeownership less affordable along with changing attitudes to renting, the proportion of renters has doubled in the space of 15 years. Currently, just under 120,000 households are renting privately in Dublin, making up almost one-quarter (24.1%) of all households in the capital.

1999Q4

In the early 2000s, approximately 12% of households in Dublin rented privately. During this period private renting was generally considered a secondary tenure that was mainly for young people transitioning towards a longerterm goal of home ownership.

Average residential rents in Dublin are currently rising by 5.2% per annum. Rent controls were first introduced in Dublin in December 2016. Generally, these limit rental growth to a maximum of 4% per annum. However, there are exemptions for properties that have not been previously let within the last two years and in the case of a substantial change in the nature of accommodation provided by a landlord.

Forecasts are summarised below; • Overall continued growth in Dublin residential rents is expected through Q1 2018 - Q1 2020.

• Average rental growth of 7.9% per annum is expected on new lets over this period.

• Annual growth of 7.2% in rents on new lets is forecast even at the furthest horizon of the forecast window in Q1 2020.

Residential Rents Forecast – Dublin New Lets

Index: Q3 2007 = 100

150 140 130 120 110 100 90 80

2019Q2(f)

2019Q4(f)

2018Q2(f)

2018Q4(f)

2017Q2

2017Q4

2016Q2

2016Q4

2015Q2

2015Q4

2014Q2

2014Q4

2013Q2

2013Q4

2012Q2

2012Q4

2011Q2

2011Q4

2010Q2

2010Q4

2009Q2

2009Q4

2008Q4

2007Q4

2008Q2

70

In order to stimulate a residential supply response, a range of Government and Local Authority measures have been introduced including; • New National Apartment Planning Guidelines: These allow for a certain amount of smaller studio apartments in certain managed developments, address the minimum number of units with dual aspect, the maximum number of units per lift and revise car parking provision in city centre and public transport served locations. The Government estimates that the changes could reduce the cost of apartment building by as much as €20,000 per unit.

• Fast-track Planning: Developers can now submit planning applications for housing developments of 100 or more residential units directly to the national planning body, An Bord Pleanála, instead of to local planning authorities as was previously the case. It is estimated that this can reduce the time in planning for these schemes from around 18 months to 7-8 months. This system will remain in place until December 2019 and subject to review, may be extended out to December 2021.

• A stamp duty refund scheme has been introduced for purchasers of commercial land purchased for residential development. This is conditional on the land being developed within 30 months and subject to other conditions also.

27

28

CB3 DOCKLANDS

LOT 2 - COMMERCIAL SITE

DUBLIN

The Commercial Site extends to approximately 0.95 hectares (2.35 acres) and occupies the eastern half of the site with frontage to Mayor Street Upper and Castleforbes Road.

It benefits from planning permission (Planning Ref. No. DSDZ2135/18) for a substantial commercial scheme comprising office accommodation over three blocks extending to approximately 30,890 sq m (332,497 sq ft) NIA. This presents a unique opportunity to provide a city centre office campus.

Indicative Site Plan – Commercial Site

29

CB

3

DOCKLANDS DUBLIN

30

DUBLIN DOCKLANDS HOME TO THE IFSC, A PREMIER DUBLIN BUSINESS ADDRESS

31

COMMERCIAL SITE The Commercial Site benefits from planning permission (Planning Ref. No. DSDZ2135/18) for a substantial commercial scheme comprising office accommodation over three blocks extending to approximately 30,890 sq m (332,497 sq ft) NIA. All Office

Block G Block G Block F Block F Block E Block E Ratio Ratio Ratio GIA sq m NIA sq m GIA sq m NIA sq m GIA sq m NIA sq m

Combined GIA sq m

Combined NIA sq m

Basement 2

4925

Basement 1 (LG) car park

2610

Basement 1 (LG) office

1765

1515

85.8

1860

1555

83.6

0

0

0.0

3390

3070

Ground Floor

1480

1260

85.1

3465

2785

80.4

188

135

71.8

5133

4180

First Floor

1735

1485

85.6

3725

3190

85.6

188

150

79.8

5648

4825

Second Floor

1860

1610

86.6

3850

3360

87.3

188

150

79.8

5898

5120

Third Floor

1945

1695

87.1

3850

3370

87.5

188

150

79.8

5983

5215

Fourth Floor

1945

1695

87.1

3850

3370

87.5

188

150

79.8

5983

5215

Fifth Floor

1135

930

81.9

2740

2335

85.2

0

0

0.0

3875

3265

11865

10190

85.9

23340

19965

85.5

940

735

78.2

36145

30890

Total Total (inc car parks)

43445

The office buildings were designed to LEED Gold standard, potentially Wellness Gold and to be NZEB compliant. There are full details available on the design of this high quality campus on our dedicated website.

Total block E+F+G NIA (lettable) Total Build Floor Area Total Gross Area

32

30890 sq m 43445 sq m (total inc car park) 36145 sq m (excl car park)

Plot Size Plot Ratio (inc car park) Plot Ratio (excl car park) Plot Ratio (excl all basements)

8420 5.2

Baement 2

4.3

Basement 1

3.9

Ground Total

Car Spaces

Bike Spaces

90

300 150

90

50 500

CB3 DOCKLANDS DUBLIN

Site Plan Commercial Scheme (Highlighted in Red)

RESIDENTIAL SITE

33

CB3 DOCKLANDS DUBLIN

OFFICE MARKET OVERVIEW

Last year represented a new annual record for office takeup in Dublin, with 304,683 sq m taken. This is 1% above the 2015 record and 2.5% ahead of the 2007 peak. The pattern of lettings has been broadly consistent with the sectoral breakdown of jobs growth.

34

Dublin Office Take-Up 350,000 300,000 250,000 200,000 150,000 100,000 50,000

2017

2015

2011

2013

2007

2009

2005

2001

2003

1997

1999

1995

1993

1991

1987

1989

0 1985

In the last two years office-based employment in Dublin has risen by 6%, with an additional 13,600 office based jobs created in that time. All sectors of the office based economy have contributed to this jobs growth, including Information and Communication Technology (ICT) (+12.1%), Professional Services (+6.8%), Public Sector (+4.5%), Private Administration (+2.5%) and Financial, Insurance and Real Estate Services (+2.0%). As a result office based employment now accounts for over 35% of all jobs in Dublin.

ICT, in particular, accounted for 46% of gross take-up in 2017. However professional services and finance and real estate companies (including serviced office providers) were also significant takers of space.

sq m

• Jobs growth driving demand for office space • 2017 a record year for Dublin office take-up • Take-up broadly based, but with a strong weighting of ICT and financial services occupiers • Take-up increasingly feeding through to net absorption • Vacancy rate down to 9.2% across Dublin • Very limited availability of Grade A space in prime locations, particularly for larger lots • Prime rents continuing to edge higher

Given an increased weighting of new entrants and expansions in take-up, net absorption (the change in occupied space) came in at over 113,000 sq m for the year. Total net absorption over 2016 and 2017 totalled 159,000 sq m – almost exactly in line with what would be expected given 13,600 additional office jobs at a typical occupancy rate of 12.1 sq m per employee.

Another way to view this is that, as the economy has grown, an increased proportion of lettings involve net additional demand for space to accommodate the staff being recruited by start-ups and expansions.

Vacancy & Rental Growth

With vacancy rates remaining well below their natural level of 12%-15%, headline rents in prime Central Business District locations rose from €646 per sq m per annum in December 2016 to €678 psm at end-2017 – an increase of 5%.

Additionally, with old stock still being withdrawn from supply for redevelopment, this should ensure that new supply does not swamp the market and that the vacancy rate will only edge up slowly from this point. In any event vacancy rates are expected to remain below their 12-15% equilibrium level for the foreseeable future.

Prime Headline Office Rents Forecast 800 700 600

€psm

With net absorption substantially offsetting any additions of new stock, the vacancy rate for purpose-built modern office space across Dublin only edged up marginally from 9.0% in December 2016 to 9.2% in December 2017.

As ever the vacancy rate varies by location and building quality. To illustrate this, just 3.9% of the standing Grade A stock is currently available in the Central Business District (Inc. Docklands).

500 400 300 200 100

2019(f)

2018(f)

2017

2016

2015

2013

2014

2011

2012

2010

2009

2007

2008

2005

2006

2004

0 2003

Looking ahead, prospects for the Irish economy remain favourable with consensus forecasts pointing to average jobs growth of more than 2% per annum and output growth of close to 4% per annum over the next two years.

This positive outlook bodes well for office demand.

FACTS, FIGURES & FORECASTS

35

36

CB3 DOCKLANDS DUBLIN

C O N TA C T S & F U R T H E R I N F O R M AT I O N Title A title summary is available in the property data room.

Services Interested parties are 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 joint selling agents.

Data Room Further information is attainable through our dedicated web based data room:

www.cb3docklands.com

JOINT AGENTS

SOLICITOR

Savills 33 Molesworth Street Dublin 2 www.savills.ie

Cushman & Wakefield 164 Shelbourne Road Dublin 4 www.cushmanwakefield.ie

PSRA - 002233

PSRA - 002222

Mark Reynolds +353 1 618 1326 mark.reynolds@savills.ie

Donal Kellegher +353 1 639 9248 donal.kellegher@cushwake.ie

Mark Barr +353 1 920 1086 mark.barr@arthurcox.com

Colette Mulroy +353 1 618 1480 colette.mulroy@savills.ie

John Donegan +353 1 639 9222 john.donegan@cushwake.ie

Marc McLaughlin +353 1 920 1000 marc.mclaughlin@arthurcox.com

Arthur Cox 10 Earlsfort Terrace Dublin 2 www.arthurcox.com

PROPERTY MISREPRESENTATION ACT The Agents and the Vendor/Lessor give note that the particulars and information contained in this brochure do not form any part 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 Ireland, Cushman & Wakefield Ireland nor any of their employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and neither Savills Ireland nor Cushman & Wakefield Ireland 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.

Designed and produced by Creativeworld. Tel +44 [0] 1282 858200.

37