A NEIGHBOURHOOD CENTRE INVESTMENT

I N V E S T M E N T H I G H L I G H T Sg Modern purpose built neighbourhood centre

g Multi-let with tenants including Centra, Boyle Sports, Pizza Hut and Giraffe Childcare

g Situated in a densely-populated catchment area

g Total Passing Rent of approximately €610,508 per annum

g Weighted Average Unexpired Lease Term of 9.75 Years

g 96% Occupancy Rate

g Extending to approximately 2,992.56 Sq. m

(32,212 Sq. ft) on a GIA basis

g 94 surface car parking spaces

g Guidepriceof€6,500,000reflectinganetinitialyieldof approximately 9% assuming standard purchaser’s costs of 4.46%

Griffeen Valley Park

Lucan Sports and Leisure Centre

Griffeen ValleyEducate Together

L O C AT I O NThe Griffeen Centre is located in the South Dublin suburb of Lucan, situated approximately 15km from Dublin City Centre. Lucan is a popular commuter suburb with an urban population of some 49,279 people as of the 2016 census.

The subject property is located approximately 3.5km south-east of Lucan Village, and is situated at the corner of Griffeen Road and Griffeen Avenue.. The immediate vicinity is dominated by housing estates, including Tullyhall, Ballyowen and Castle Riada. Lucan Educate Together and Griffeen Valley Educate Together are both located within close proximity to the subject property. Surrounding amenities include Liffey Valley Shopping Centre, Fonthill Retail Park, Lucan Spa Hotel, Lucan & Hermitage Golf Clubs and Weston Airport. Maynooth University is situated approximately 15km to the north-west.

NB:Foridentificationpurposesonly

ZONED RESIDENTIAL

R136

BA

LLYO

WEN

RO

AD

N4

N4

T R A N S P O R TThe area benefits from excellent transport links including the N4/M4 national primary west/ northwest motorway and the M50. Clondalkin Fonthill Train Station is located approximately 2.7km to the south-east. The area is also served by several Dublin Bus routes.

The area benefits from the following drive times to key locations:

C AT C H M E N T A R E A – L U C A N E S K E R The Lucan-Esker electoral area saw the third highest increase in population in the country in the most recent census (2016). The number of people rose by 7.75% from 29,820 to 32,134.

53%

of the catchment are within the top tier social

class of professional managerial, technical

and non-manual workers

66%

of the catchment is in employment

8,501 new housing units

developed since 2001

25% are students, retired

or dedicated to home duties

O’Connell Street, Dublin 1 30 minutes

Liffey Valley Shopping Centre 12 minutes

Exit 1 of the M50 9 minutes

Maynooth Town Centre 15 minutes

Dublin Airport 25 minutes

D E S C R I P T I O NThe property comprises an attractive, stand-alone neighbourhood centre, designed by Douglas Wallace and constructed in 2006 by Castlethorn Construction (Castlethorn were responsible for the Dundrum Shopping Centre and the River Centre in Rathbourne). The development provides an excellent mix of neighbourhood orientated occupiers, including Boyle Sports, Centra, Pizza Hut, Giraffe Childcare and McCabes Pharmacy.

The Centre is arranged over ground and first floors, within three individual blocks. Overall the centre provides 7 x ground floor retail units and a crèche, together with overhead office accommodation, medical and community centre. The centre also includes a 2 storey landmark corner restaurant.

To the front of the development there is a large surface carpark for approximately 94 cars, which enchances the centre’s usability and convenience for customers. Delivery access and waste storage is provided to the rear.

The centre extends to approximately 2,992.56 Sq. m (32,212 Sq. ft) on a GIA basis.

BLOCK 1BLOCK 2

BLOCK 3

T E N A N C Y & A C C O M M O D AT I O N S C H E D U L E

Unit No Tenant Sq. Ft (GIA) Lease Start Term Expiry Break

Option Contracted Rent

Passing Rent

Rent Review Date

Rent Review Frequency/Mechanism

Retail 1 Enrest Piech t/a Scarface Barbers 1,044 01/06/2015 4 years 9 months 30/04/2018 €24,600 N/A

Retail 2 Wembar Co Ltd t/a McCabes Pharmacy 1,044 25/07/2007 25 years 24/07/2032 €156,616 €50,000 25/07/2022 5 yearly - UORR

Retail 3 Gerald Kean Solicitors 1,076 27/08/2012 9 years 11 months 26/07/2022 €43,040 €25,000 27/08/2017 5 yearly - OMRV

Retail 4 Denise Byrne t/a House of Colour 1,227 14/12/2007 25 years 13/12/2032 €57,000 €28,600 14/12/2017 5 yearly - UORR

Retail 5 Finbam Leisure Ltd t/a Bambury Bookmakers 1,432 21/12/2007 20 years

1 month 20/01/2028 €67,304 €36,000 21/12/2017 5 yearly - UORR

Retail 6 B. Brothers Food Limited t/a Pizza Hut 1,389 12/10/2007 25 years 12/09/2032 12/10/2023 €70,000 €70,000 12/10/2017 5 yearly - UORR

Retail 7 Musgrave Ltd t/a Centra 7,470 13/03/2012 20 years 03/12/2032 13/03/2024 €145,000 €145,000 13/03/2017 5 yearly - OMRV

Office 1 OTHS (PVT) Ltd 635 Terms Unknown €4,700 €4,700

Office 2 Vacant 600

Office 3 Michael Doyle t/a MGD Chartered Accountants and Tax Consultants 904 01/05/2015 10 years 01/05/2025 €6,000 €6,000 01/05/2020 5 yearly - OMRV

Office 4 Vacant 678

Office 5 The Glamour Room 678 01/05/2015 5 years 01/05/2020 €5,784

Creche Giraffe Childcare Limited t/a Giraffe 4,704 13/06/2007 20 years 1 month 07/12/2027 13/06/2022 €122,438 €91,824 04/01/2017 5 yearly - UORR

Community Centre SDCC t/a Crosscare 2,895 01/07/2008 25 years 01/06/2033 € -

Restaurant Di Bella 2,906 12/06/2008 25 years 11/06/2033 €81,000 €50,000 12/06/2018 5 yearly - UORR

Healthcare Prima Care 3,455 03/03/2008 26 years 03/03/2034 €60,060 €50,000 03/03/2018 5 yearly - UORR

ATM Ulster Bank 75 20/11/20079 years 9 months (Expired)

19/08/2017 €6,500 €6,500

Antenna Vodafone - 21/05/2009 10 years 21/05/2019 21/05/2015 €16,500 €16,500

Total 32,212 €836,158 €610,508

T E N A N C Y O V E R V I E WThe centre has a weighted average unexpired lease term (WAULT) of 9.75 years to expiry/break. The asset is let in accordance with the tenancy and accommodation schedule in the data room. The centre currently generates a passing income of approximately €610,000 per annum from 16 tenants (Contracted rent of €793,338 per annum).

T O TA L F L O O R A R E A B Y S E C T O R T Y P E

Tenant Name Rent € %

Centra 145,000 24

Giraffe 91,824 15

Pizza Hut 70,000 11.5

Di Bella 50,000 8

McCabes Pharmacy 50,000 8

Remainder 203,176 33.5

Total 610,000 100%

T O P F I V E T E N A N T S ( B y P a s s i n g R e n t )

R E TA I L 4 5 . 5 7 %

O T H E R 4 3 . 5 7 %

O F F I C E 1 0 . 8 4 %

S E R V I C E C H A R G EThe operating costs of the Griffeen Centre is covered by a comprehensive service charge. Full service charge budgets are available from the Data Room (www.thegriffeencentre.com).

L O C A L A U T H O R I T Y R AT E SRates are the responsibility of the tenants.

PSRA Registration No. 003587

The agents on their own behalf and on behalf of the vendor/lessor of this property, give notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither the agents nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Any representation including descriptions, dimensions, references to condition, permissions or licenses 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.

For further information, contact:QRE Real Estate AdvisersWaterloo ExchangeWaterloo RoadDublin 4D04 E5W7

T: + (0) 1 637 5555www.qre.ie

Bryan Garry MRICS MSCSIbryan.garry@qre.ieT: + (0) 1 637 5544

Ellen Prenderville MRICS MSCSIellen.prenderville@qre.ieT: + (0) 1 637 5532

Jenny Donnelly MRICS MSCSIjenny.donnelly@qre.ieT: + (0) 1 637 5557

SolicitorsEugene F. CollinsTemple ChambersBurlington RoadDublin 4Contact: Aoife Fitzpatrick and Justine Territt

Guide Price e6,500,000 (Six Million Five Hundred Thousand Euro)

Title Freehold

VATPlease refer to the agent.

BER

BER Number: Available Upon RequestEnergy Performance Indicator: 713.74 kWh/m²/yr1.04 - 3487.44kWh/m²/yr8.92

ViewingsAll viewings are strictly by appointment through the sole selling agent

Data RoomA data room containing legal documents and background information is available at www.thegriffeencentre.com. Access to the data room is restricted and will be granted by QREtointerestedpartiesontheverificationof information.