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For Sale By Private Treaty

DUBLINLOGISTICSPORTFOLIO

WILLSBOROUGHINDUSTRIAL ESTATEDUBLIN 17

INVESTMENT SUMMARY

• Fully let to a strong tenant line-up; Three Ireland Services (Hutchison) Ltd, Virgin Media Ireland Ltd and Kedington Ltd

• Passing rent of €402,552 per annum with a Weighted Average Unexpired Lease Term (WAULT) of 4.4 years

• Excellent location adjacent to the M50 / M1 interchange, under 3.5km from the Port Tunnel and 6.5km from Dublin Airport

• Willsborough is a well-established, actively managed and secure industrial estate. Notable nearby occupiers include BT Ireland, Vodafone, and Amazon

• Available in one or more lots

Lot 1 Corner Unit East & West (Let to Kedington and Virgin)

Lot 2 East & West Units (Let to Three)

Lot 3 The Entire

INDUSTRIAL PROPERTY INVESTMENT OPPORTUNITY

WILLSBOROUGHPORTFOLIO

Four high quality, modern industrial units extending to approximately 4,300 sq m (46,285 sq ft) with 68 car parking spaces

DUBLIN PORT TUNNEL

» 5 minutes

CITY CENTRE

» 18 minutes

DUBLIN AIRPORT

» 10 minutes

M50 MOTORWAY JUNCTION 1 (M1)

» 6 minutes

Drive Times



LOCATION

Neighbouring Occupiers:

4 DUBLIN LOGISTICS PORTFOLIO

Willsborough Industrial Estate is an established industrial development approximately 8.5km north of Dublin City Centre and adjacent to the M50 / M1 interchange.

The property benefits from excellent accessibility to major arterial routes and occupies a pivotal position between Dublin Airport and Dublin City Centre. The Estate is accessed via the R104, just off the M50.

Willsborough Industrial Estate, together with Clonshaugh IDA Park, form an industrial hub with over 215 acres of industrial-zoned land between the two parks.

M1

M1

M50

M50/M1INTERCHANGE

DLP

AIRWAYS INDUSTRIAL ESTATE

AMAZON DATA CENTRE

CLONSHAUGH BUSINESS& TECHNOLOGY PARK



THE OPPORTUNITY

APPROX. 6.5 METRES

EAVES HEIGHTFRAME CLAD

WITH PROFILED 2 LAYER METAL CLADDINGwith quilt insulation

GRADE LEVEL LOADING DOOR

access for each unit

Dublin Logistics Portfolio comprises four semi-detached industrial units extending to 4,300 sq m (46,285 sq ft). The buildings occupy a corner site at the entrance to Willsborough Industrial Estate providing for easy access and impressive profile.

The properties comprise ground and first floor office accommodation to the front elevation with warehouse accommodation to the rear. All four properties have generous yard space, providing approximately 68 car spaces.

Grade level loading access is located to the rear.

Three of the units are currently in office/datacentre use while the remaining unit, Corner Unit East, is in office/warehouse use.


Specification

STEEL PORTAL FRAME CONSTRUCTION

MODERN OFFICES AND STAFF FACILITIES

DOUBLE SKIN INSULATED ROOF SYSTEM

10% translucent roof panels

SECURE YARD AREAS

REINFORCED CONCRETE FLOORS 50kN Loading Capacity

24 HOUR SECURITY TO ESTATE



TENANCY Unit Tenant Total Sq Ft

Term (Years)

Lease Start

Rent Review

Lease Expiry

Unexpired Term

Rent % of Total

Rent

Corner Unit East

Kedington Ltd

11,981 10 18/11/2015 18/11/2020 17/11/2025 7.2 €77,500 19%

Corner Unit West

Virgin Media Ireland Ltd

12,187 25 09/07/1999 09/07/2019 08/07/2024 5.9 €80,000 20%

East Unit Three Ireland Services (Hutchison) Ltd

11,030 25 01/10/1996 N/A 30/09/2021 3.1 €121,454 30%

West Unit Three Ireland Services (Hutchison) Ltd

11,087 25 01/10/1996 N/A 30/09/2021 3.1 €123,598 31%

Total 46,285 4.4 €402,552 100%

Three Ireland Services (Hutchison) Ltd Three is 100% owned by CK Hutchison Holdings (CK Hutchison), a multinational conglomerate that employs approximately 270,000 people in over 50 countries worldwide. Creditsafe rating of 98.

The units are individually let to Three Ireland Services (Hutchison) Ltd, Virgin Media Ireland Ltd and Kedington Ltd, producing a total rent of €402,552 per annum with a WAULT of 4.4 years.

Virgin Media Ireland LtdVirgin Media is a subsidiary of Liberty Global’s telecommunications operation in Ireland and is the largest digital cable television provider within the Republic of Ireland. The company offers broadband internet, digital television and digital (VoIP) telephony to over 1.2 million Irish customers. Creditsafe rating of 94.

Kedington LtdKedington is one of the largest IT network infrastructure solutions companies in Ireland and provides active and passive IT network solutions, structured cabling and data centre engineering services to organisations of all sizes in the public and private sector. Creditsafe rating of 90.


RAMP

Not to scale / for information purposes only

10



ECONOMIC OVERVIEW

On the back of sustained improvements in the labour market, the strong performing consumer economy continues to drive the circulation of goods throughout the country. Data from the Road Freight Transport Survey show that in 2017 over 147 million tonnes of goods were transported by road. This is an increase of almost 4% from 2016. Furthermore, the average number of goods vehicles increased by 10%.

More recently, Dublin Port saw Cargo volumes grow by 5.2% year on year in the first half of 2018. Analysing the number of goods passing through Dublin Port and the volume of goods being transported around the country can serve as a strong leading indicator of demand for logistics space in Dublin. As more goods are being transported throughout Ireland, we expect demand to remain strong for logistics space.

Logistics Take-Up

Source: Savills Research Long-Run AvgKey: Q1 Q2 Q3 Q4

Important Notice

Savills Commercial (Ireland) Limited 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 nor any of its 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 any of its 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. This brochure is issued by Savills Ireland on the understanding that any negotiations relating to the property are conducted through it.

Fergus O’FarrellT: +353 1 618 1311 E: [email protected]

Shane Corby T: +353 1 618 1450 E: [email protected]

John EarleyT: +353 1 618 1766 E: [email protected]

Contacts and Further Information

DUBLIN LOGISTICS PORTFOLIO

Market TrendsTake-up of logistics space in Dublin for Q2 2018 was 53,000 sq m. Despite sustained strong levels of demand from both occupiers and investors, low vacancy rates continue to constrain take-up in the market. One fifth of Q2 take-up was accounted for by new builds and this is expected to increase with 37,000 sq m of speculative space either completed or due for completion before year end. Lettings accounted for 60% of Q2 transactions with the largest transaction being the letting of a 9,423 sq m facility at Citywest Business Campus.

OutlookProspects for the Irish economy remain favourable and the sustained recovery in employment will continue to underpin the domestic economy. The current consensus is for GDP growth of 4.9% in 2018 and 3.9% in 2019 with jobs growth of around 53,000 and 46,000 this year and next. As such, demand for industrial property is set to remain strong.

160,000

SQ

M

Q3

2013

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2013

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140,000

120,000

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80,000

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VATWe understand transfer of business relief will apply to the sale

TitleLong Leasehold

BERBer No’s available upon request

Savills33 Molesworth StreetDublin 2

ViewingsAll viewings are strictly by appointment

Websitedublinlogisticsportfolio.com

Guide PriceIn excess of €5.7mAvailable in one or more lots

PSRA No 002233

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