HENRY STREET - Savills · include The White Company, Victoria’s Secret and Smiggle. Existing brands also continue to show confidence, evidenced most recently by the Topshop and

HENRY STREETCOLLECTION16, 17 & 45 HENRY STREET, DUBLIN 1PRIME RETAIL INVESTMENT OPPORTUNITY

INTRODUCTION 2

COLLECTION HIGHLIGHTS 4

PORTFOLIO ANALYSIS 6

HENRY STREET – A PRIME HIGH STREET 8

A CONNECTED HIGH STREET 10

PERFECTLY POSITIONED 12

16 HENRY STREET 14

17 HENRY STREET 16

45 HENRY STREET 18

ECONOMY AND RETAIL MARKET OUTLOOK 20

CONTACTS AND FURTHER INFORMATION 21

CONTENTS

INTRODUCING THE

HENRY STREET COLLECTION

AN EXCEPTIONAL OPPORTUNITY TO ACQUIRE A COLLECTION OF SCALE

ON NORTH DUBLIN’S PREMIER HIGH STREET

17HENRY STREET

16HENRY STREET

45HENRY STREET

PRIME RETAIL INVESTMENT OPPORTUNITY2 3HENRY STREET COLLECTION

THE HENRY STREET COLLECTION PRIME RETAIL INVESTMENT OPPORTUNITY4 5

COLLECTIONHIGHLIGHTS

DUBLIN’S SHOWCASE HIGH STREET INVESTMENT OPPORTUNITY

16 HENRY STREET 17 HENRY STREET 45 HENRY STREET

4,496 sq ftFloor Area NIA

€450,000Annual

Passing Rent


€280,000Annual

Passing Rent


€385,000Annual

Passing Rent

• Three prime high street properties centrally positioned on Henry Street, on the prime stretch between the Jervis Shopping Centre and Moore Street

• Extending to a total area of 1,241 sq m (13,360 sq ft) NIA including 466.12 sq m (4,802 sq ft) NIA of ground floor retail space

• Significant frontage of approx. 24.92 m onto Henry Street

• Institutional grade tenant line-up: GameStop Ltd, Nature’s Way Limited (t/a Holland & Barrett) and Fat Face Ltd

• Total passing rent of €1.115m per annum

• For sale collectively or in individual lots

• Tenants not affected

HENRY STREET COLLECTION PRIME RETAIL INVESTMENT OPPORTUNITY6 7

PORTFOLIOANALYSIS

TENANCY SCHEDULE

Property Tenant Term Lease Start Rent Review Break Option Notice Period Lease Expiry Annual Rent Area (sq m) NIA Area (sq ft) NIA

16 Henry Street Gamestop Group Limited 35 02 Nov 1987 _ _ _ 01 Nov 2022 €450,000 418 4,496

17 Henry Street Natures Way Limited t/a Holland & Barrett 10 13 Sept 2011 _ _ _ 12 Sept 2021 €280,000 490 5,277

45 Henry Street Fat Face Ltd 15 15 Jun 2010 15 Jun 2020 14 Jun 2020 6 Months 15 Jun 2025 €385,000 333 3,587

Total €1,115,000 1,241 13,360

PORTFOLIO SIZE PER PROPERTY

17

16

45

HENRY STREET5,277 sq ft NIA



39%

34%

27%

TOTAL

13,360 sq ftNIA

PORTFOLIO INCOME

25%

17

16

45

HENRY STREET€280,000



40%

35%

TOTAL

€1,115,000

HENRY STREET

UNRIVALLED CRITICAL MASS

435,000 sq ftPrime Ground Floor Retail Space

61 ShopsIncluding 5 department stores

A PRIME HIGH STREET


O’CONNELL STREET


PROPOSED DUBLIN CENTRAL SITE HENRY STREET

TRINITY COLLEGETARA STREET TRAIN STATION

TEMPLE BAR

RIVER LIFFEY

THE CUSTOM HOUSE

ARNOTTS

LUAS RED LINE

A CONNECTED HIGH STREET

Located in the heart of Dublin City, Henry Street has excellent transport links including the LUAS Cross City and Red Line stops on the nearby O’Connell, Abbey Street and Jervis Street. There are numerous Dublin Bus stops on O’Connell Street while the area is also well served by taxi ranks and Dublinbike terminals. Car-parking is well catered for in a number of multi-storey car parks at the Jervis Centre, Ilac Centre and the Parnell Centre.

Weekly footfall figures on the street averagedover 577,500 in 2018, resulting in total footfallfor the year of over 30 million. Compared to 2017, this was an increase of 5%.

CLERYS

LUAS CROSS CITY

17 HENRY STREET


16 HENRY STREET


45 HENRY STREET


The area is serviced by all forms of public transport:

Luas 1 minute

Dublin Bus 1 minute

Dublin Bikes 2 minutes

Dart/Rail 6 minutes

Busáras 8 minutes

Car Parks Arnotts, Jervis Centre, Jervis Street & Parnell Street

PERFECTLY POSITIONED

SURROUNDED BY DISTINGUISHED NATIONAL AND INTERNATIONAL BRANDS

B I G C I T YT R AV E L G O O D S

D I R E C T I O NM E N S W E A R

T H E B R A N D E DD I S C O U N T O U T F I T

H I C K E Y S F A B R I C S

T H E P E R F U M E

SHOP

TOURISTINFO

Nº 45

Nº 17

Nº 16

I L A CShoppping centre

O ’ C O N N E L L S T R E E T

M O O R E S T R E E T

H E N R Y P L A C E

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ENTRANCE

ENTRANCE

The assets are centrally positioned on Henry Street, on the prime retail stretch between the Jervis Shopping Centre and Moore Street. Henry Street is the premier retail thoroughfare on the north side of Dublin City Centre, one of the two main pedestrianised high street retail locations in Dublin, the other being Grafton Street on the south side of the city.

There is significant letting activity currently ongoing, which is transforming the streetscape. Next are in the process of fitting out their new premises, the Blue Building, a carve out of the existing Arnott’s store, which once complete will comprise a new 36,000 sq ft MSU.

In addition, Jervis Street Shopping Centre is currently being reconfigured to accommodate 2 new MSUs which have been let to JD Sports and Topshop. These lettings will further enhance footfall levels on the street. The immediate area is undergoing significant regeneration with the redevelopment of Clerys, Hammerson's anticipated development of the Dublin Central Site and Motel One's plan for a 365-room hotel on Abbey Street.

HENRY STREET COLLECTION12 HENRY STREET COLLECTION

16 HENRY STREET


16 Henry Street is a 4 storey over basement property extending to approx. 417 sq m (4,496 sq ft) NIA which includes 100.4 sq m (1,081 sq ft) of ground floor retail space. The unit has approx. 6.95m of frontage on to Henry Street and is fitted out as retail accommodation at ground and first floor levels. The remainder of the building (basement and upper floors) used as storage.

626 sq ft ITZAFloor Area

6.95 mFrontage on Henry Street

TENANCYThe entire is let to GameStop Group Limited on a 35 year fully repairing and insuring lease from the 2nd November 1987 at a current passing rent of €450,000 per annum. The lease expires on 1st November 2022. The unexpired term is 4.1 years. GameStop Corp have guaranteed the tenants obligations under the lease.

THE TENANTGameStop Corp is a video game and consumer electronic retailer that is headquartered in Dallas, Texas and operates 7,117 retail stores throughout the US, Canada, Australia, New Zealand and Europe. The group generated revenue of €9.225 billion in 2017 and operating income of €135.6 million.

UP

BASEMENTACCESS

SPIRAL STAIRS

HENRY STREET

17 HENRY STREET



17 Henry Street is a 4 storey over basement property extending to approx. 490.25 sq m (5,277 sq ft) NIA which includes 149.48 sq m (1,609 sq ft) NIA of ground floor retail space. The unit has approx. 6.87 m of frontage on to Henry Street and is fitted out as retail accommodation at ground floor level, staff and storage facilitates at basement level and storage to the upper floors.

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UP

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UPUP

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HENRY STREET

TENANCYThe entire is let to Nature's Way Limited t/a Holland and Barrett on a 10-year fully repairing and insuring lease from 13th September 2011 at a current passing rent of €280,000 per annum. The lease expires on 12th September 2021.

THE TENANTNature's Way Limited t/a Holland and Barrett are Europe’s leading retailer of vitamins, minerals and herbal supplements and they operate over 1,300 outlets in 16 countries with a substantial presence of over 620 outlets in the United Kingdom and Ireland. Holland and Barrett have reported revenue of £640 million in their latest financial year ending the 30th September 2017. The brand was founded in 1870 and currently employs in excess of 7,000 staff members.

635 sq ft ITZAFloor Area

45 HENRY STREET



45 Henry Street is a 4 storey over basement property with the ground, basement and part first floor being offered for sale. The property extends to approx. 333.24 sq m (3,587 sq ft) NIA which includes 196.21 sq m (2,115 sq ft) NIA of ground floor area. The unit has approx. 11.1 m of frontage on to Henry Street and is fitted out as retail accommodation / storage at ground floor level, storage at basement level and staff facilities / storage on the first floor.

TENANCYThe entire is let to Fat Face Limited on a 15-year fully repairing and insuring lease from 15th June 2010 at a passing rent of €385,000 per annum. There is one remaining rent review outstanding in June 2020. The tenant has a break option on the same date. The lease expires on 15th June 2025.

THE TENANTFat Face Limited are a leading clothing retailer operating over 260 stores throughout the United Kingdom, Ireland and the USA. The brand was founded in 1988 and opened its first bricks and mortar store in Fulham in 1993. Fat Face employ approx. 2,891 staff members across all of their stores. The group reported gross revenue of £226m for the financial year ending June 2017.

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HENRY STREET

1,048 sq ft ITZAFloor Area

20 HENRY STREET COLLECTION

Savills33 Molesworth StreetDublin 2PSRA: 002233

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]

Paul DigginT: +353 1 649 2000 E: [email protected]

BER RATINGBER No. available upon request

DATA ROOM

Important NoticeSavills 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.

HENRYSTREETCOLLECTION.COM

CONTACTSAND FURTHER INFORMATION

ECONOMY AND RETAIL MARKET

OUTLOOK

Total EmploymentGiven the positive economic backdrop, Dublin high streets continue to attract significant demand from new and existing retail brands. That demand is primarily focused on high street locations, benefiting the subject properties.

New entrants to the Irish market in the last 12 months include The White Company, Victoria’s Secret and Smiggle. Existing brands also continue to show confidence, evidenced most recently by the Topshop and JD Sports lettings in Jervis Shopping Centre.

AGENT

SOLICITOR

2,5002,4002,3002,2002,1002,0001,9001,8001,7001,6001,500

(000

s)

Source: CSO Consensus and Forecasts

1998

Q2

1999

Q1

1999

Q4

2000

Q3

2001

Q2

2002

Q1

2002

Q4

2003

Q3

2004

Q2

2005

Q1

2005

Q4

2006

Q3

2007

Q2

2008

Q1

2008

Q4

2009

Q3

2010

Q2

2011Q

120

11Q4

2012

Q3

2013

Q2

2014

Q1

2014

Q4

2015

Q3

2016

Q2

2017

Q1

2017

Q4

2018

Q3

2019

Q2(

f)20

20Q

1(f)

2020

Q4(

f)

TITLEFreehold

VATVAT is not applicable on this sale

VIEWINGSAll viewings are strictly by appointment

Further strong GDP growth of approx. 4.2% and 3.4% forecast for 2019 and 2020

+66,700Net new jobs being created annually

2.3% In Real Earnings Per Annum

+3.6% Annual Growth in Total Retail Sales Volumes (Nov 2018)

+3% Average annual growth in consumer spending in past twelve months

More people at work in Ireland than ever before

Source: CSO Consensus and Forecasts

HENRYSTREETCOLLECTION.COM

Documents

HENRY STREET - Savills · include The White Company, Victoria’s Secret and Smiggle. Existing brands also continue to show confidence, evidenced most recently by the Topshop and