F O R S A L E B Y P R I V A T E T R E A T YOn the instructions of Kieran Wallace, Receiver, KPMG.

FORMER FORD MOTOR CO. DISTRIBUTION SITE C E N T R E P A R K R O A D , C O R K

Eastern Gateway Bridge

Pairc Ui Chaoimh

Marina District Park

“The Future Starts Here”

THE OPPORTUNITY

CBRE is delighted to offer for sale one of the most high profile and

prestigious sites in Cork’s South Docklands. Long associated with the

Ford Motor Company and more recently as the home of Cork’s Live At

The Marquee annual summer music festival, this is one of Cork’s best

known sites. With unprecedented occupier demand and continued

yield compression providing conditions ripe for development, this

site is now ready to realise its true potential as a flagship development

opportunity.

SALE HIGHLIGHTS

• Substantial4.59hectare(11.35acre)mixedusedevelopmentsite

• Located in Cork’s South Docklands adjacent to the newly

redeveloped,PaircUiChaoimhGAAStadium(45,000capacity)

• Full planning permission in place for 564 residential units,

31,777sq.m.ofoffices,a205bedroomhotelanda5,000person

capacity Events Centre

• Highqualitylive/workenvironmentadjacenttothepicturesque

River Lee and Marina Park Phase 1 which is currently being

developed

• Designated for LIHAF funding to aid the delivery of key

development infrastructure

• ABPPermissioninplacetodelivermajorinfrastructuretoCork’s

South Docklands including the Eastern Gateway Bridge

SOUTH DOCKLANDS

Cork’sSouthDocklandsencompassesanareaspanning131hectares(324acres)fromBlackrockVillageinthe

east to Albert Quay to the west and running south of the River Lee. The South Docklands is synonymous with

Cork’s industrial past, particularly the Ford Motor Company and Dunlop Tyres. Traditional port users in the

Docklands are making relocation plans, including The Port of Cork Company who are developing a deep water

terminal at Ringaskiddy Port.

ThevisionforCork’sSouthDocklandswasoriginallysetoutinthe2008SouthDocksLocalAreaPlan,this

plan iscurrentlyunderreviewandanewDocklandsLocalAreaPlanistobepublishedinQ22018.Thevision

for the SouthDocklands is to provide a vibrantmixed use city quarter including residential, commercial,

culturalandamenityuses.TheSouthDock’sareaisidentifiedashavingcapacitytosupport20,000residents

and25,000workersovera20yeartimeframe.

TheCorkCityDevelopmentPlan2015–2021reinforcesthisvisionandprovidesforlessprescriptivezonings,

in thesubjectcasethemajorityofthesiteiszonedMixedUsewhichpermitsresidential,offices,technology,

retail, hotel, third level educational, hospital and cultural uses.

Ballintemple

Montenotte

Blackrock

TivoliCork Kent

N27

N27

N27

N8N8

N8

N8

N8

N8

N8

N8

The Marina

Collins

Barracks

Marina

Commercial

Park

River Lee

CORKCorkistheRepublicofIreland’ssecondlargestcitywithapopulationofc.220,000toincludeitsmetropolitan

suburbs.TheNational PlanningFramework Strategy (Ireland 2040) has set a target population growth of

130,000(+60%)forCorkCityoverthelifetimeofthisplan.Corkhasalongestablishedreputationasavibrant,

multiculturalcitywithexcellentemploymentandlifestyleattractions.

MajoremployersareintheICTandbiopharmasectorsandincludethelikesofApple,Amazon,DellEMC,

Facebook,EliLilly,Johnson&Johnson,GEHealtcare,andPepsi.Corkhasathirdlevelstudentpopulationof

approx.35,000withapproximately20,000attendingUCC.In2016,UCCwhichisrecognisedinthetop2%of

research institutions worldwide, secured €240minfundingtoinvestintheexpansionofitscollegecampusand

studentfacilities.Corkalsohasastrongtourismindustryandin2010LonelyPlanetrecommendedCorkasone

ofthetop10citiestovisitintheworld.

CorkhasamoderninternationalairportvotedbyAirportCouncilInternationalasTheBestAirportinEurope

2017inthe<5mpassengercategory.CorkAirporthosts11carriersservicing48routesincludingtransatlantic

flightstoBostonwhichcommencedinJuly2017.Corkhasexcellenttransportlinksandisonly2.5hoursfrom

DublinviaanhourlytrainserviceorbyroadviatheM8Motorway.

Limerick

Sligo

Killarney Cork

Dublin

Belfast

Galway

Waterford

Kilkenny

CORK CITY CENTRE

CLAYTON HOTEL

THE ELYSIAN ONE ALBERT QUAY BOTANIKA

NAVIGATION SQUARE

GOULDINGS TEDCASTLES PAIRC UI CHAOIMHMARINA COMMERCIAL PARK

KENT STATION

CENTRE PARK ROAD

MONAHAN’S ROAD

BLACKROCK ROAD

LWR GLANMIRE RD

MARINA PARK PHASE 1(under construction)

RIVER LEE

RIVER LEE

ZONING The property currently falls under the Cork City

Development Plan 2015 – 2021 while a new Docklands

DevelopmentPlanisduetobepublishedinQ22018.The

newplanupdatesthe2008SouthDock’sLocalAreaPlan

which divided the Docklands into a number of precincts.

Themajorityofthesubjectpropertywaszoned‘Precinct

16’whichpermittedagrossplot ratioof2.5:1 anda60%

residential,40%non-residentialdevelopmentsplit.

TheCorkCityDevelopmentPlan2015introducednewless

prescriptive zonings to the SouthDocklands in order to

create‘alivelyandsustainableurbanquarter’.Thesubject

siteiscurrentlyzonedNeighbourhoodCentreandMixed

Use.Underthesezoningspermittedusesarewideranging

and include; residential, offices, technology, retail, hotel,

third level educational, hospital and cultural. Building

heightsareprescribedat5to7storeysatparapetwithan

additional storey setback.

POTENTIAL LIHAFUndertheGovernment’sRebuildingIrelandprogram,aLocalInfrastructureHousingActivationFund(LIHAF)

has been set up to fund infrastructure deemed critical to the delivery of housing supply. Cork South Docklands

has received a €15.5mallocationinordertofacilitatethedevelopmentof700residentialunitsontwoSouth

Docklandsites,oneofwhichisthesubject.AninformalMemorandumofUnderstandingisagreedbetweenthe

VendorandCorkCityCouncilinrespectoftheimplementationofthisfundingpackage.

PLANNING PERMISSION UnderplanningRef:PL08/32919permissionwasgranted

inApril2009foraperiodof10yearsforamajornewurban

quarter designed by leading Architects Scott Tallon Walker

and Norman Foster & Partners. The proposed development

incorporates 12 buildings ranging in height from 1 to 27

storeys.Thedevelopmentknownas‘TheAtlanticQuarter’

providesfor564apartments/11retailunits1,986sq.m./

Offices31,777sq.m/a205bedroomHotel/a5,000person

capacityEventsCentreand1,728carparkingspaces.

Precinct 16

Scheme With Full Planning Permission

Marina Park & Proposed Scheme

RESIDENTIALTherecentlyreleasedNationalPlanningFrameworkPlan(OurPlan2040)setsatargetpopulationincreaseofover

60%or350,000personsforCorkCityoverthenext20years.Theplanhighlightsthedocklandsasakeylocationin

deliveringthispopulationgrowthandthisrepresentsakeyopportunityforthesubjectsite.

CurrentlytheprivaterentedsectoristhefastestgrowingpropertysectorinCorkwithover13,000residentialunits

and28%ofthecity’spopulationbeinginthiscategory,thiscompareswiththenationalaverageof18%anditis4%

higherthanDublinrecordedat24%.

Atpresentover60%ofrentedpropertiesaretothoseunder35yearsofage,manyworkinthescience,innovation,

technologyandpharmaceuticalsectorswithmostdemandbeingforsmallerunitsizesratherthantypicalfamilystock.

According to themost recentDaft.ie Irish rental report, average rentalvalues inCorkarenowabovepeak levels

achievedin2006/2007.ThemostrecentDaft.ieRentalreportforQ42017citedaveragequotingrentsinCorkcityat

€1,180permonth,up7.7%year-on-year.Primecitycentrerentsfor2bedroomapartmentsarenowedgingtowards

€2,000percalendarmonth.

Given the increasing levels of demand for rental accommodation from new international corporate renters as well as

theexistingstudentandprivaterenterpopulation,thecaseforsupplyingmodernpurpose-built“BuildtoRent”stock

withhigh-qualityamenityspaceisobvious.Theviabilityofthistypeofdevelopmentisclearlyevidencedintherecent

saleofTheElysianmixedusecomplexwhichcontained206apartments.Itattractedverystronginternationalinterest

withtheresidentialelementreflectinganetinitialyieldofaround4.2%.

Current Prime Rental Levels Cork City Average Residential Rents 2007 - 2017

Average Rent Average Rent Top Rent(2 Bed)

The Elysian €1,500 pcm €2,000 pcm

Eden Blackrock €1,500 pcm

Lancaster Gate €1,600 pcm €1,700 pcm

Opera Lane €1,625 pcm €1,800 pcm

City Square €1,350 pcm €1,500 pcm

)(2 Bed )(2 Bed

CORK MARKET SECTOR OVERVIEW

OFFICES

DemandformodernofficeaccommodationinCorkhasbeenverystrongoverthepast2years.Thisis

evidencedinpre-lettingactivityonnewschemesintheCityCentreincludingNavigationSquareand85

South Mall. Prime headline rents, currently at a competitive €32.50psfperannum,havegrownbymore

than30%inthepast3yearsandprimeinvestmentyieldsinthissectoraretrendingbelow5.5%.

CBRE Research shows that there ismore than 240,000 sq.m of new offices in 23 schemes planned

forCorkCityanditssuburbanbusinessparksbutonly14%ofthissupplyisunderconstruction.With

limited availability of new stock, competitive rents and continued strong demand driven mainly by large

corporates, our medium term outlook is for a very solid performance is this sector.

Cork Office Supply by Stage of Construction & Anticipated Delivery Date

140000

120000

100000

80000

60000

40000

20000

02018 2019 2020 2021 2022

Planning Applied

Planning Granted

Under Construction

Under Construction-Pre Let

SqM

Source: CBRE Research

€1,500 pcm

HOTELSCorkcityandsuburbscurrentlyhas24hotelsand2,469bedrooms.Thelargestsectoristhe4starmarket

accounting for70%ofallbedroomswith the5 starmarketaccounting for less than9%of total supply.

HotelshavebeenoneofthestrongestperformingpropertysectorsinCorkinrecentyearswith28hotel

sales recorded. Demand has been driven by strong recovery in hotel business, occupancy in Cork reached

80%in2017withADRrecordedat€97.00.Thiscompareswithoccupancyof69%andADRof€90inthepeakofthelastcyclein2007.

Whileonlyonenewhotelcontaining165bedroomsiscurrentlyontargettoopeninCorkin2018afurther

4newhotelscontaining774bedroomsareplannedforCorkCityoverthenext3years.Cork’s6,000seat

EventsCentre is now reported to be close to commencing development, thiswill bring 200,000more

visitors to Cork on an annual basis which is a significant boon to the hospitality sector in particular.

Source: Trending.ie

Cork Hotel Performance 2007 - 2017

BASIS OF SALE The property is being offered for sale by Private Treaty on the instructions of the Receiver, Kieran Wallace, KPMG.

PRICE On application to the sole selling agent CBRE.

TITLE Freehold.

LICENCE AGREEMENTSA number of short term licence agreements are in place with various operators who hire the site for specific events

onanannualbasis.VacantpossessioniscurrentlyavailablefromOctober2018.

SURVEYS, SERVICES AND ENVIROMENTAL REPORTSSite surveys, services and environmental reports have been completed and are available in the Data Room.

BERBERNo.800420499

FURTHER INFORMATION InterestedpartieswillattheVendor’sdiscretionbeprovidedwithaccesstotheDataRoom.TheDataRoomcontainscomprehensive information about the property including, site maps, services and planning reports, title information

and details of the sales process.

SOLICITOR Aeibhin Cahalane

O’FlynnExhamsSolicitors|+353(0)214277788|ac@ofx.ie

SELLING AGENT

Denis O’Donoghue +353(0)214917255+353(0)874178315

denis.odonoghue@cbre.com

Brian Edwards +353(0)214917255+353(0)871653908

brian.s.edwards@cbre.com

Peter Garrigan +353(0)16185500+353(0)872636487

peter.garrigan@cbre.com

One Albert Quay, Cork

These particulars are issued by CBRE U.C., registered in Ireland, no. 316570. PSRA Licence No. 001528 on the understanding that any negotiations relating to the property are conducted through them. While every care has been taken in preparing them, CBRE U.C., for themselves and for the vendor/lessorwhose agents they are, give notice that: (i) Although the property was formerly known as the Ford Distribution Site, Ford are not associated with the property or the proposed sale, their name is used solely for the purposes of identifying the property. (ii) 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. (iii) 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. (iv) Neither CBRE U.C., nor any of their employees have any authority to make any or give any representation or warranty in relation to the property. Brochure prepared March 2018 by Inka Design & Print.