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NORTH ROADDUBLIN 11
• High Yielding Grade A Office Investment
• Current Passing Income of €518,463
• State Tenant Primary Occupier (77% of rent roll)
• Unrivalled Car Parking Ratio
• Opportunity to increase return immediately on letting of vacant accommodation following recent upgrade of common areas
HIGH YIELDING GRADE A OFFICE INVESTMENT
FOR SALEBY PRIVATE TREATY
(TENANTS NOT AFFECTED)
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INVESTMENT HIGHLIGHTSJ5 Plaza is a unique office investment opportunity with the following key characteristics:-
l Landmark building located at the entrance to North Park Estate
l Adjacent to its intersection with the M50 / N2 at Junction 5
l Immediate access to Dublin Airport, Dublin Port Tunnel and all the main arterial routes to and from the City
l Constructed to a high standard specification with a current occupancy rate of 71%
l Tenants include HSE, Special Olympics, Kavanagh Accountants and Fehily Timoney
l Flexible open plan floor plates offer the opportunity to create self-contained suites thus suitable for a variety of users
l Ideal opportunity to capitalise on the improving prospects of Dublin’s office market
DUBLIN
DunLaoghaireStillorgan
Clondalkin
Tallaght Dundrum
Lucan
Howth
Malahide
Swords
DublinAirport
Blanchardstown
M50
M50
M50
M1
N2
N3
N4
N7
N31
N11
M11
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Charlestown Shopping Centre
Dublin Airport Dublin Port Tunnel
Joe Duffy Motors
M50 - Junction 5
N2 Dennis Mahoney Motor Group
North Road
North Park Estate
IKEANorthwood Santry
M50 - Junction 5
Audi North Dublin
Dublin City Centre (5.4 km)
The immediate area is an established
commercial destination with the adjacent
North Park Estate, Rosemount Business Park,
Blanchardstown Corporate Park, Jamestown
Business Park and Northwood Business
Campus. Local occupiers include Audi North
Dublin, IBM, Amazon, Nike, Emulex, Regus,
BMW Ireland and Euromedic.
J5 Plaza occupies a prominent position in
North Park with excellent profile and easy
access to the M50, N2 and Dublin Airport.
There are a number of Dublin Bus Routes
which operate close to J5 Plaza, with a
bus stop only 350m away. A regular Bus
Éireann service stops on the North Road also
servicing Ashbourne and the N2 corridor.
J5 Plaza is generously served by surrounding
amenities including Charlestown Shopping
Centre which provides a range of cafés,
restaurants and shops to include Dunnes
Stores, Boots, O’Briens Sandwich Bar, The
Bagel Factory, Eddie Rocket’s and many
more. Blanchardstown Town Centre with
all its shops, amenities and facilities is also
within an 8 minute drive of J5 Plaza.
J5 Plaza is a modern 5,901 sq m
(63,514 sq ft) GIA four storey over
basement office development with
surface and basement car parking.
Situated within North Park Estate
the building was completed in 2008
and is finished to a high standard.
INTRODUCTION
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SPECIFICATION:
l Raised access floors with floor boxes
(Cat V cabling to tenant areas)
l Suspended ceilings
l Recessed office lighting
l Air conditioning
l Access control
l Lift access
l Raised floor to underside of ceiling - 2.7m
The building offers bright spacious floor plates with occupants enjoying views over the Dublin Mountains to the south. The office element benefits from a modern Grade A specification:
The vacant suites provide the opportunity to increase income
returns immediately following recent upgrade of common areas.
They are currently laid out in open plan format and benefit from
raised floors but await installation of suspended ceiling and air
conditioning plant. This provides letting flexibility so requirements
from 160 sq m (1,722 sq ft) can be accommodated. The building
benefits from six escape stair cores allowing for maximum
internal sub-division. The car parking available with the building is
supplemented by additional spaces located throughout the North
Park development providing a uniquely high car parking ratio.
J5 Plaza also benefits from a landscaped campus environment, 24
hour park security and the penthouse suites have generous terraces.
DESIGN TEAM:
l Contractor – McDermott & O’Farrell
l Architects – Frank Crowley Architects
l Structural Engineers – Niall Fitzsimons & Co
l M&E Engineers – RN Murphy & Associates
ACCOMMODATION
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Demise Unit Tenant Area GIA Area NIA
Sq m Sq ft Sq m Sq ft
Basement Store Special Olympics
Ireland 31.60 340 26.77 288
Basement Store HSE 34.72 374 34.23 368
Ground 1, 2, 3, 4, 5 HSE 1,625.09 17,492 1,327.78* 14,292*
First 6, 7, 8, 9,10 HSE 1,624.17 17,482 1,317.70* 14,184*
Second 11,12,14 Vacant 875.45 9,423 675.36 7,270
Second 13 Special Olympics Ireland
397.83 4,282 331.10 3,564
Second 15 Vacant 348.67 3,753 297.70 3,204
Third 16 Fehily Timoney 306.92 3,304 231.60 2,493
Third 17,18 Vacant 470.41 5,063 340.83 3,669
Third 19 Kavanagh Accountants 185.79 2,000 158.09 1,702
Total 5,900.65 63,513 4,741.16 51,034
Surface Car Spaces** 162
Basement Car Space** 90
*HSE net internal area includes toilets within their demise as part of tenant fit-out
**Breakdown of car spaces outlined under Tenancies
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Demise Tenant Car Spaces Lease Term
Commencement NextRent
Review
TenantBreak Passing Rent
Basement Store, Ground Floor
HSE
Lease: 28 basement spaces in J5 PlazaLicence: 14 surface spaces in J5 Plaza58 surface spaces in the North Park
Development*
25 years 16th May 201115th May
2021Every 5 years subject to
6 months’ noticee202,483**
First Floor HSELease: 24 basement spaces in J5 Plaza
Licence: 36 surface spaces in the North Park Development*10 years 10th October 2013 -
End of year 5 subject to 6 months’ notice
e195,283**
Basement Store, Part Second Floor
Special Olympics
Lease: 4 basement spaces in J5 Plaza4 surface spaces in J5 Plaza
10 years 31st August 201130th Au-
gust 2016End of year 5 years subject
to 6 months’ noticee47,917.80
Part Third Floor Fehily Timoney Licence: 4 basement spaces in J5 Plaza 10 years 10th January 20119th Janu-ary 2016
End of year 5 years subject to 6 months’ notice
e44,321.58
Part Third FloorKavanagh
AccountantsLease: 4 surface spaces in J5 Plaza 20 years 1st July 2009
30th June 2019
End of year 5 years subject to 6 months’ notice
e28,458
Sub Total 176 e518,463.38
Unlet Areas
Vacant Part Second &
Part Third30 basement spaces & 46 surface
spaces in J5 Plaza
Total 252 e518,463.38
*The licence spaces located in the North Park Development do not all have planning permission but are in existence over 7 yearswithout any notices served (letter of opinion on compliance provided). **HSE – both leases contain a payment of €45,000 per annum for their fit-out for a term of 5 years from lease commencement. The basement store room and car park licence rent is also included.
TENANCY SCHEDULE
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THIRD
FLOO
RSEC
ON
D FLO
OR
FIRST FLOO
RG
ROU
ND
FLOO
R
FehilyTimony
Vacant Vacant
VacantKavanagh
Accountants
Special OlympicsIreland
MALEWC
DISABLEDWC
FEMALEWC
MALEWC
DISABLEDWC
FEMALEWC
MALEWC
DISABLEDWC
FEMALEWC
FEMALEWC
MALEWC
DISABLEDWC
FEMALEWC
MALEWC
DISABLEDWC
FEMALEWC
MALEWC
DISABLEDWC
FEMALEWC
DISABLEDWC
HSE
HSE
FEMALEWC
MALEWC
DISABLEDWC
FEMALEWC
MALEWC
DISABLEDWC
TENANCIES CONTINUED
INDICATIVE TITLE MAP FOR DISCUSSION PURPOSES ONLY
COVENANT BACKGROUND
Health Service Executive Health Service Executive
are a Semi State Body
Special Olympics Ireland Limited
Special Olympics Ireland Limited have a Dun & Bradstreet credit rating of 2A 1
(as per accounts published 31st December 2012) with a turnover of e4,751,992 and an
advised tangible net worth of e8,247,634
Fehily Timoney & Company Limited
Fehily Timoney & Company Limited have a Dun & Bradstreet credit rating of 1A 2
(as per accounts published 31st December 2012) with an advised tangible net worth
of e1,016,660
Eamonn Kavanagh T/A Kavanagh & Company, Chartered Accountants
Lease held personally thus no financial information
Indicative Plans - For Discussion Purposes Only
15 16 1713 14
40
41
42
43
44
45
46
10
11 12
9
NO
RTH
R
OA
D
19
20
21
22
23
24
25
26
2728
29
12
13
14
15
16
17
18
1
2
3
4
5
6
7
8
9
12
11
10
WATERMAIN
' B '
40 Car spaces
29 Carspaces
30 Car spaces
37 Carspaces
11Car spaces
13 Carspaces
43 Car spaces
Rev Date DescriptionRev Date Description
Client
Project
Drawing Title
Marshalsea Properties
North Park Mapping at North Road, Dublin 11.
Rev Date Description Drawing No.
Drawn By
Scale
Date
Revision
Checked By
Project No. Status
Do not scale from drawings, usefigured dimensions only. Any
discrepancies to be reported tothe architect immediately. Allmaterials & workmanship to
comply with all current buildingregulations & building standards& codes of practice. Drawingsto be read in conjunction withArchitects specification, along
with all relevant consultantsdrawings & specifications.
C
Unit 1,20 Harcourt Street,Dublin 2,Republic of Ireland.
E -Mail:[email protected]
Mobile:+353 (0)87 827 26 86
Phase
Landline ROI:+353 (0)1 400 75 40
1440 Sketch
1:500 @ A1 OC
RD
-
July 2014
1007 -Unit J5 Right of way
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These particulars are issued by Bannon on the understanding that any negotiations relating to the property are conducted through them. While every care is taken in preparing them, Bannon, for themselves and for the Vendor/lessor whose agents they are, give notice that: (1) The particulars are set out as a general outline for guiding potential purchasers/tenants and do not constitute any part of an offer or contract. (2) Any representation including description, dimensions, references to condition, permissions or licences 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. (3) Bannon nor any of its employees have any authority to make or give any representation or warranty in relation to the property.
AGENTS
Property Consultants and Chartered Valuation SurveyorsHambleden House19/26 Pembroke Street LowerDublin 2
CONTACT
Katie [email protected]
Louise Doherty [email protected]
SOLICITORS Noel Smyth & Partners 22 Fitzwilliam Square Dublin 2
Colman Bermingham +353 1 632 1000
PSRA:001830
PLANNING J5 Plaza is located within the administrative control of Fingal County Council. The building was developed under planning application F99A/1393 which was subsequently amended by application no. F05A/1357 and F06A/0030.
TITLEWe understand the property is held under a long leasehold interest.
VATVat is chargeable on the sale
PRICEOn application
VIEWINGSStrictly by appointment with the sole selling agents
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