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A T R I U M
For Sale By Private Treaty(Tenants not affected)
I n v e s t m e n t / D e v e l o p m e n t O p p o r t u n i t y
FA C I L I T I E S B U I L D I N G
Sandyford Business Park,Dublin 18
N31
M50
S T I L L O R G A NS T A T I O N
S A N D Y F O R DS T A T I O N
C E N T R A L P A R KS T A T I O N
S A N D Y F O R DI N D U S T R I A L E S T A T E
L E O P A R D S T O W NH E I G H T S
B L A C K T H O R N A V E
B U R T O N H A L L
C A R M A N H A L L R D
S T I L L O R G A NI N D U S T R I A L P A R K
A T R I U M
» Income producing Retail Investment with further Development potential (s.p.p)» Let to Londis, Café ToGo and Bank of Ireland (ATM)» Contracted rent of €193,401 per annum exclusive » Site area 0.16 Hectares (0.395 Acres)» Existing building extends to 361.86 sq m (3,895 sq ft)
Investment Summary
LOCATIONThe subject property is located on Carmanhall Road between its junctions with Blackthorn Road and Arkle Road, which is approximately 10km south of Dublin City Centre.
Sandyford Business Park is served by the Green LUAS line which is situated 200 metres from the Atrium Facilities Building providing a regular service into St. Stephens Green. The property is also serviced by the M50 motorway, N11 dual carriageway and a number of bus routes providing links to the City and other surrounding areas.
Notable occupiers in the vicinity include :
» Microsoft » Mars Ireland » Dun & Bradstreet » Service Source » Chill Insurance » Regus
The subject property comprises a stand-alone single storey commercial premises known as the ‘Atrium Facilities Building’ and potential development sites on each gable end of the building. We understand the property extends to a total site area of 0.395 acres.
The Atrium Facilities Building extends to a total net internal ground floor area of 255.20 sq m (2,747 sq ft) and is sub divided into two retail units comprising a Convenience Store t/a Londis and a Coffee Shop t/a Café ToGo, in addition to an ATM facility operated by Bank of Ireland.
A common bin store serves all the units and the convenience store demise includes a basement of 98.10 sq m (1,056 sq ft) accessed internally and from the car park of the adjoining office block.
There are a number of metered Local Authority owned on-street customer parking spaces immediately to the front of the property.
* There are temporary rent abatements in place for Units 1 & 2 which are due to expire on 31st December 2016, rising to total contracted rent of €193,491 per annum exclusive.
** The lessor has the ability to resite the ATM machine
DESCRIPTION We understand that the accommodation and approximate net internal floor areas are as follows:
THE FACILITIES BUILDING
Purchasers are specifically advised to independently verify floor areas and to undertake their own due diligence.
SCHEDULE OF ACCOMMODATION
UNIT LEVEL SQ M SQ FT
Unit 1/2Ground 167.88 1,807
Basement 98.10 1,056
Sub Total 265.98 2,863
Unit 3 Ground 81.10 873
ATM Ground 6.22 67
Bin Store Ground 8.55 92
Sub Total 95.87 1,032
TOTAL 361.86 3,895
Demise Tenant Lease Term Commencement Date Break Expiry Date Total Rent
€ p.a.Contracted* Rent€ p.a.
Unit 1/2 Kram SupermarketsLtd t/a Londis 20 years 01/01/2002 N/A 31/12/2021 €95,000 €123,165
Unit 3 Development Services & Logistics Ltd t/a Café ToGo 20 years 01/01/2002 N/A 31/12/2021 €60,000 €68,326
ATM Bank of Ireland** 25 years 31/10/2001Rolling break option every 6 months
30/10/2026 €2,000 €2,000
TOTAL €140,499 €193,491
The property is currently let as follows:
TENANCY
B L A C K T H O R N A V E
A R K L E R
D
C A R M A N H A L L R D
P O T E N T I A L D E V E L O P M E N T
P O T E N T I A L D E V E L O P M E N T
A T R I U MF A C I L I T Y B U I L D I N G
The title is held long leasehold being a term of 250 years from 1st January 1992 (225 years unexpired) and is registered at Land Registry under Folio DN86694L.
The freeholder is Dun Laoghaire Rathdown County Council.
The property is shown outlined in green on the attached map and we understand includes:
» The portion of the car park basement underneath the retail units;» The podium upon which the units stand; and » The airspace above the units.
This map is for illustration purposes only
Title
POTENTIAL DEVELOPMENT OPPORTUNITY
TOWN PLANNINGUnder the Sandyford Urban Framework Plan 2016-2022, the property is Zoned 2: Mixed Use Outer Core (MOC). Uses Permitted in Principle include Local Shop, Shop-Specialist, Tea Room/Café, Restaurant, Public House, Leisure Facility, Off License, Offices, Nightclub, etc.
The above plan allows for development of up to 7 storeys and a plot ratio 1:1.
Zone 1: Mixed Core Area-Inner Core
Zone 2: Mixed Core Area-Outer Core
Zone 3: Officed based Employment Uses
Zone 4: Light Industrial/Warehousing
Zone 5: Residential
Zone 6: Medical/Hospital Uses
Zone 7: Open Space
Protected Structure
To protect and/or provide for Institutional Use in open lands
6 Year Road Proposal
Long Term Road Proposal
Long Term Strategic Road Proposal
To Protect and preserve trees and Woodlands
Boundary of Specific Local Objective
Urban Framework Plan Boundary
Sustainable Neighborhood
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Includes Ordnance Survey Ireland data reproduced under OSi Licencenumber 2013-2015/CCMA/Dun Laoghaire-Rathdown County Council.
Unauthorised reproduction infringes Ordnance Survey Irelandand Government of Ireland copyright.
© - Ordnance Survey Ireland, 2016
MAP No. 1
M HenchyDirector of Services
Planning and Organisational Innovation
Date: Scale: Drawing No:
Chief Technician :
Drawn By:
Senior Planner:
Prepared By:
D. Irvine
C. Clarke A. Ayeni
M. Hevehan
March 2016 1:8000PRINT ON A3 PAPER
LAND USE Z0NING
Boundary of Specific Local Objective
Sustainable Neighbourhood
To protect and preserve Trees and Woodlands
See Appendix 2 of Sandyford Urban Framework Plan Document for Proposed Specific Local Objectives
6 Year Road Proposal
Zone 5: Residential
Zone 4 : Light Industrial/Warehousing
Zone 3 : Officed based Employment Uses
Zone 2 : Mixed Use Core Area -Outer Core
Zone 6 : Medical/Hospital Uses
Zone 1 : Mixed Core Area -Inner Core
To protect and/or provide for Institutional Use in open landsINST
A C
109
Zone 7 : Open Space
Protected Structure
123
COUNTY DEVELOPMENT PLAN 2016-2022
0 100 200 300 400 50050
Metres
Urban Framework Plan Boundary
Long Term Strategic Road Proposal
Long Term Road Proposal
PL-16-038
55
Disclaimer: BNP Paribas Real Estate gives notice that these particulars are set out for general outline only, for the guidance of intending Purchasers and do not constitute, nor constitute part of an offer or contract. All descriptions, dimensions, references to condition and other details are given without responsibility and any intending Purchasers should not rely on them as statements or representations of fact, but must satisfy themselves or otherwise as to the correctness of each of them. All floor areas are approximate.
INVESTMENTGuiding excess of €2,750,000 (subject to contract) for the subject Investment which equates to a net initial yield of 6.74% based on the contracted rent and allowing for standard purchaser’s costs of 4.46% whilst excluding development potential.
VATTo be confirmed.
BER DETAILSBER Rating: BER Number: 800512196Energy Performance Indicator: 753.59 kWh/m²/yr 1.1
SOLICITORS
Andrew MuckianTel: +353 1 639 [email protected]
20 Merrion Road, Ballsbridge, Dublin 4, D04 C9E2 Tel: +353 1 661 1233PSRA No: 002702
FURTHER DETAILS/ARRANGE VIEWINGTo arrange a viewing or for further information, please contact the BNP Paribas Real Estate Investment or Development Land Departments:
William Fry Solicitors2 Grand Canal SquareDublin 2, D02 A342
Atrium facilities building
Danielle Rocca [email protected]
Mark ForrestDevelopment [email protected]
