WHITEWATER SHOPPING CENTRE
IRELAND’S LARGEST REGIONAL SHOPPING CENTRE FOR SALE BY PRIVATE TREATY
WHITEWATER SHOPPING CENTRE
‘A Rare Opportunity to Acquire Quality and Scale in Retail Real Estate in Ireland’
IRELAND’S LARGEST REGIONAL SHOPPING CENTRE
www.whitewaterscsale.com
IRELAND’S LARGEST REGIONAL SHOPPING CENTRE
Freehold Investment For Sale by Private Treaty (Tenants Not Affected)
Guide Price: In excess of €150 million (subject to contract) equating to a net initial yield of 7.47%
WHITEWATER
SHOPPING CENTRE
OVERALL NET OPERATING INCOME APPROX:
€11,708,000 PER ANNUM WAULT:
11.4 YEARS
29,788 SQ M (320,640 SQ FT) OF RETAIL ACCOMMODATION
84 RESIDENTIAL UNITS
(EXCLUDING RESIDENTIAL)
1,700 CAR PARKING SPACES
4 KEY ANCHOR TENANTS
AFFLUENT CATCHMENT AREA EXTENSIVE AND
02 03
A SUCCESSFUL SHOPPING CENTRE Whitewater Shopping Centre comprises an extensive two storey mall constructed to the highest standards and home to over 80 retailers. The scheme includes 4 anchor tenants, 63 retail units, 11 food court units with seating for 650 people, a 6 screen cinema and 1,700 car parking spaces.
WHITEWATER
SHOPPING CENTRE
KEY ANCHORS
DIVERSE FASHION MIX
DESTINATION RETAILERS
LEISURE AND FOOD OFFERING
04 05
CENTRE OPENING (NUMEROUS PRE-LETS IN SITU)
INITIAL RENT REVIEWS (NOT APPLICABLE) UCI (NOW ODEON) OPENED NEW 6 SCREEN CINEMA
DEVELOPED BY BALLYMORE
PRE 2006
2006
2009
2011
ASSET MANAGEMENT
TRADING IMPROVEMENTS
NEW LETTINGS
NEW LETTINGS
TRADE UP 10% Y/Y (AVERAGE)
FORECASTING FURTHER TRADING IMPROVEMENTS
FOOTFALL UP A FURTHER 8% Y/Y
PLANNING FOR 2 NEW RESTAURANTS ANNUAL FOOTFALL UP 5%
THE WHITEWATER STORY 2013
2014
NOW
FUTURE 06 07
Newbridge is within the Dublin commuter-belt, approximately 50 km south-west of Dublin City Centre. The area is connected by both road and rail services. As a result, the Newbridge/ Naas area has emerged as a hub of industry with firms like Kerry Group, Oral B, Newbridge Silverware and Pfizer choosing to locate here. The area is also renowned as the ‘Home of Irish Horse Racing’ and the location of the Irish Army’s largest military base, both of which stimulate growth in the local economy.
A STRONG PERFORMING LOCATION
DERRY
LETTERKENNY
A6
N14
M2
A5
DONEGAL
A29 A26
N15 A32
ENNISKILLEN SLIGO
N59
BELFAST
M1 A4
A1
MONAGHAN
BALLINA
N2 N3
N17
CAVAN
N4
DUNDALK
CASTLEBAR N5 N84
N3
N4 N17
M1 M2
MULLINGAR ATHLONE
M4
DUBLIN
GALWAY
N7
PORTLAOISE N18
M7
WICKLOW
LIMERICK N24
M8
CASHEL
KILKENNY N11
TIPPERARY N21
N24
N20
M8
WATERFORD
MALLOW N25 N22
N11
M9
M7
KILLARNEY
M50
NAAS
M6
CORK
WEXFORD
WHITEWATER
SHOPPING CENTRE
DUBLIN AIRPORT
M4
M1
N2 N3
M50
KILCOCK
JOHNSTOWN BRIDGE
M4 M50
MAYNOOTH LUCAN
R402
M4 R406
M50
R407
UT E
R403
CLANE
M CO
NE LI
CLONDAKIN
DUBLIN
M
DUN LAOGHAIRE
N7
RA IL
-
BLACKWOOD R403
IN BL U D
R
HEUSTON STATION
N81
R407
M50
Bus Route 126
R414 R409
N7 R415
R401
M7
NAAS MILLTOWN
10
NEWBRIDGE STATION
R115
R414
M11
N81
M7
NEWBRIDGE
KILDARE 12
WICKLOW MOUNTAINS NATIONAL PARK
R411
KILCULLEN M9
R417
R759
R413
R755 LIFFEY
R418
...Newbridge is firmly established as a major commercial hub.
08 09
EMPLOYMENT & ATTRACTIONS IN THE AREA • Kerry Group has developed a Global Innovation Centre in Millennium Park in Naas and employs over 1,000 people.
• Newbridge Silverware continues to attract vast numbers of visitors to its Main Store and Museum of Style Icons.
• Kildare contains the European base of electronics firms, Intel (employs approximately 4,500 people) and Hewlett Packard (employs approximately 4,000 people), two of the largest employers in this sector.
• Pharmaceutical giant Pfizer has its European Manufacturing base in Newbridge.
• The Irish Army’s largest military base containing its command headquarters and training centre is located at the Curragh.
• County Kildare is world famous for staging the most exciting horse racing events in Ireland. The Curragh, Punchestown and Naas racecourses attract people from all over the world who come to see the top international horses and jockeys compete in races throughout the year. Highlights include all five Irish Classic races which run at the Curragh and the Irish National Hunt Festival at Punchestown. Other local thoroughbred attractions include The Irish National Stud and Goffs International Sales Complex.
WHITEWATER
SHOPPING CENTRE
RETAIL CATCHMENT 53%
N2
M4
of the catchment area is within the ABC1 socio-economic group
N3
M4
310,851* population within the catchment reflecting an increase of approximately 30% since the 2002 census versus the national average of 16%
45%* of the catchment is in the 15-44 age profile
Edenderry
DUBLIN
N52
M50
NEWBRIDGE
Naas
Kildare
Portarlington N80
E20
M9
Portlaoise
N81
Athy N80
Balthinglass
E20 N77
Carlow
25%* of the catchment population is under 15 years of age, contributing to a significant increase in the forecasted 15-24 year age group
N78 N80
M9
N77
10 min drive time 20 min drive time 40 min drive time N81 M50 - 28 min drive time
*Source Gamma/CSO 2011
10
11
SHOPPING IN NEWBRIDGE Newbridge hosts a diverse selection of shops, from large international brands to long established local traders. Whitewater Shopping Centre has established itself as the focal point for the town centre and is complemented by an extensive range of additional shopping and leisure amenities. Accessed from Main Street and Cutlery Road, Whitewater is situated adjacent to TK Maxx, Penneys and The Courtyard Shopping Centre.
MAIN STREET
PEDESTRIAN ACCESS
THE COURTYARD SHOPPING CENTRE
NEWBRIDGE RETAIL PARK
WHITEWATER
SHOPPING CENTRE
WHITEWATER SHOPPING CENTRE
CUTLERY ROAD
ACCESS TO CAR PARK
ATHGARVAN ROAD
ACCESSING WHITEWATER The Curragh
Newbridge Train Station
ES ACC
LIFFEY BRIDGE
CA
RP A RK
PEDESTRIAN ACCESS
O ST HI TE
A W
R
CA
R
PA R
K
ER
CUTLERY RD
W TE
EW AT
MOOREFIELD CROSS
N7 TO DUBLIN
To Naas / Dublin
NEWBRIDGE MAIN ST
IT
N7 SOUTH
C AC
S ES
TO
W
H
12
13
WHITEWATER INCOME Anchored by Debenhams, Marks & Spencer, H&M and Zara; other significant tenants include Boots, New Look, River Island and Odeon cinema as well as an array of high quality aspirational retailers including Oasis, Diesel, Bershka, Tiger and i-Connect. The centre is currently 98% occupied. Whitewater is let in accordance with the tenancy and accommodation schedule available in the data room. The majority of leases are effectively on full repairing and insuring terms by means of a comprehensive service charge. In addition, 25 tenancies incorporate some form of base rent and turnover provision within their lease.
Whitewater has a current gross income of â‚Ź11,960,724 per annum. After deduction of all occupational shortfalls, the centre produces a current net rent of â‚Ź11,707,749 per annum (as at 1st October 2015). The majority of tenants with turnover rent provisions are experiencing very strong sales growth. This provides an element of operating leverage at the centre to drive potential income beyond current levels. Turnover numbers, in the current turnover period, have demonstrated strong year on year sales growth of up to 45%, with an average sales growth for those tenants who provide turnover figures of 10%.
12-month average turnover growth of 10%
WHITEWATER
SHOPPING CENTRE
INCOME PROFILE Whitewater has an unrivalled strength of income. The scheme (excluding the multi-family units, car park and promotions) has a weighted average unexpired lease term (WAULT) of 11.4 years to break/expiry.
INITIAL INCOME SUMMARY - AS OF 1ST OCTOBER 2015 RENT €
SHORTFALLS €
NOI €
NOI - SPLIT %
9,155,188
(153,958)
9,001,230
77%
Foodcourt
618,335
(77,612)
540,723
5%
Kiosks
273,643
(1,402)
272,241
2%
Mall income
153,963
N/A
153,963
Mall units (incl cinema)
External units
WAULT of 11.4 years to break 1%
5%
2%
1%
245,625
(20,003)
225,622
10,446,754
(252,975)
10,193,779
5% 87%
Residential
542,828
N/A
542,828
5%
Car park
888,494
N/A
888,494
7%
82,648
N/A
82,648
1%
11,960,724
(252,975) 77%
11,707,749
100%
Sub-total - Main Centre
Promotions TOTAL
2%
2%
7%
1%
NET OPERATING INCOME (NOI)
WAULT of 11.4 years to break 5%
2%
1%
Major Tenants 13%
2% 5%
77% Mall Units
2%
External Units
5%
Foodcourt
5%
Residential
2%
Kiosks
7%
Car Park
1%
Mall Income
1%
Promotions
7%
7%
1% 77%
5%
48%
5%
WAULT of 11.4 years to break/expiry Income Expiry 5%
4%
4%
3%
3%
3%
77% Mall Units
2%
External Units
13% Debenhams
4%
Boots
5%
Foodcourt
5%
Residential
7%
Car Park
4%
New Look
2%
Kiosks
7%
Car Park
5%
Marks & Spencer
3%
Easons
1%
Mall Income
1%
Promotions
5%
H&M
3%
Odeon
5%
Residential Net Income
3%
Zara
14
15
48% Remainder
7% 7%
1%
5% 48% 5%
5%
INCOME EXPIRY/BREAK PROFILE 4%
Hypothetical
Within 5 Years €
Mall Units
2%(incl External Units Mall units Cinema)
1,098,262
Foodcourt
5% Residential Foodcourt
Kiosks
Mall Income
4%
Kiosks
7%
Car Park
1%
Promotions
Mall income
External units
165,739
5 to 10 Years €
100,000 7% 0 153,963
96,983
TOTAL %
3%
2,244,661 13% Debenhams 175,000
113,000 0
10 to 15 3% years €
0
9,155,188
4% New Look 618,335 352,596
5%
Marks & Spencer
5%
H&M
5%
Residential 2,502 Net Income
0
Total €
4% Boots 5,637,265
Car Park0
45,000
3% Greater than 15 years €
3%
Easons
3%
Odeon
3%
Zara
115,643 0
146,140
273,643 153,963 245,625
48% Remainder
1,473,984
2,498,624
222,502
6,251,644
10,446,754
14%
24%
2%
60%
100%
Excludes residential, car park and promotions which equates to an additional €1,513,970 pa.
Income Expiry Profile
INCOME EXPIRY PROFILE (TERM CERTAIN)
60% of the income is secured for over 15 years Within 5 years
5 to 10 years
10 to 15 years
Greater than 15 years
WHITEWATER
SHOPPING CENTRE
TOP 10 TENANTS The top 10 tenants at Whitewater account for over 52% of the income. Tenant
Rent - â‚Ź
%
1,575,000
13%
1
Debenhams
2
Car Park
888,494
7%
3
Marks & Spencer
630,000
5%
4
H&M
575,000
5%
5
Residential Net Income
542,828
5%
6
Boots
500,000
4%
7
New Look
425,000
4%
8
Easons
380,000
3%
9 Odeon WAULT of 11.4 years to break 370,000
3%
10
Zara
5%
2%
1%
Remainder
2%
330,766
3%
5,743,636
48%
11,960,724
100%
Major Tenants 13%
5%
TOTAL
7% 7%
87% of the income is generated by the shopping centre tenants 1% including food court, kiosks and mall income. 77%
5%
48%
7% of the income is generated by the car park with 5% from the multi-family residential and 1% from promotions.
5%
5%
4%
MAJOR TENANTS
Major Tenants
4% 3%
13%
77% Mall Units
2%
External Units
5%
5%
Residential
Foodcourt
2%
Kiosks
7%
Car Park
1%
Mall Income
1%
Promotions
7%
5% 48%
3%
3%
13% Debenhams
4%
Boots
7%
Car Park
4%
New Look
5%
Marks & Spencer
3%
Easons
5%
H&M
3%
Odeon
5%
Residential Net Income
3%
Zara
48% Remainder
5%
Top 10 tenants Income Expiry Profile= 52% of the income 5%
4%
4%
3%
3%
3%
13% Debenhams
4%
Boots
7%
Car Park
4%
New Look
5%
Marks & Spencer
3%
Easons
5%
H&M
3%
Odeon
5%
Residential Net Income
3%
Zara
16
17
2014 - 2015 RETAIL INVESTMENT DEALS 2 LETTERKENNY
2/6 SLIGO
6 DUNDALK
5 DROGHEDA
5
7
MULLINGAR
4 4
BALBRIGGAN
2
ATHLONE
TULLAMORE
GALWAY
DUBLIN AREA 5 CARLOW
4
4 GOREY
KILKENNY
4 TIPPERARY
3
5/7 CLONMEL
TRALEE
2 KILLARNEY
6/7 CORK
6 KILBARRACK
6
DUBLIN 4
CLONDALKIN ORWELL
6
2
1 DUN LAOGHAIRE
NUTGROVE DUNDRUM
5
DUBLIN AREA
CARRICKMINES
WHITEWATER
SHOPPING CENTRE
RECENT RETAIL INVESTMENT TRANSACTIONS Property
1. PROJECT JEWEL (incl. Dundrum Town Centre)
Area (sq ft) N/A (Dundrum 1,500,000 sq ft)
€162,000,000 (Guide Price)
7.26% (At Guide)
Q3 2015
€59,000,000
7%
Q2 2015
€102,000,000
7.17%
Q4 2014
€158,000,000
5.73%
Q4 2014
€124,750,000
7.17%
Six nationwide shopping centres/retail parks. Properties within this portfolio include Dundalk Retail Park, Co. Louth (incl. 30 acres of development land); The Mill Shopping Centre, Clondalkin (incl. an office building); Douglas Court Shopping Centre, Cork; Bloomfields Shopping Centre, Dun Laoghaire; Quayside Shopping Centre, Sligo and Kilbarrack Shopping Centre, Dublin 5. 706,222
7. ACORN PORTFOLIO
Sale Agreed
Four provincial retail parks and one prime Dublin retail park. The properties within this portfolio include The Park, Carrickmines, Dublin; Lakepoint Retail Park, Mullingar; Four Lakes Retail Park, Carlow; M1 Retail Park, Drogheda and Poppyfield Retail Park, Clonmel.
471,026 6. SPECTRUM PORTFOLIO
4% blended excluding development sites
Six small/medium sized shopping centres nationwide along with 150 residential units. Properties within this portfolio include Orwell Shopping Centre, Templeogue; Westside Shopping Centre, Galway; Tipp Town Shopping Centre, Tipperary; Athlone Town Centre, Westmeath; Macdonagh Junction Shopping Centre, Kilkenny and Gorey Shopping Centre, Wexford. 798,017
5. PARKS PORTFOLIO
Q3 2015
€1,850,000,000 (Hammerson PR)
A fully let, provincial shopping centre and retail park on the outskirts of Tralee, Co. Kerry.
511,330 4. CORNERSTONE PORTFOLIO
Net Yield on NOI
Portfolio comprises of four small/medium sized provincial retail parks and one Dublin retail park. The properties include Nutgrove Retail Park, Dublin; Sligo Retail Park; Deerpark Shopping Centre, Killarney; Letterkenny Retail Park, Donegal and Tullamore Retail Park, Offaly.
349,998 3. MANOR WEST, KERRY
Sale Price
Comprised the acquisition of a portfolio of loans secured against prime retail assets in Dublin (including Dundrum Town Centre, the Ilac Centre and The Pavillions in Swords). 1,147,678
2. NATIONAL PORTFOLIO
Date
Q3 2014
€170,000,000
7.36%
The portfolio comprised three provincial shopping centres, namely Blackpool Shopping Centre and Retail Park, Cork; Showgrounds Shopping Centre, Clonmel, Co. Tipperary and Millfield Shopping Centre, Balbriggan, Co. Dublin.
Please note prices and yields stated above are approximate. 20
21
REAL GDP
6.5%
INVEST IN IRELAND’S RETAIL STORY
RETAIL ECONOMY IMPROVING Real GDP is now rising at a remarkable 6.5% per annum
UNEMPL
WHITEWATER
SHOPPING CENTRE
9.7%
9.7%
XX%
10%
10%
10%
16.1%
16.1%
16.1%
6.5%
6.5%
6.5%
9.7%
LREAL GDPREAL GDP UNEMPLOYMENT GDP UNEMPLOYMENT UNEMPLOYMENT SENTIMENT SENTIMENT SENTIMENT RETAIL RETAIL SALES RETAIL SALES SALES FORECAST FORECA FO
2016 2016 201
UNEMPLOYMENT CONTINUES TO FALL
CONSUMER SENTIMENT UP
RETAIL SALES GROWTH
Encouraging growth in new jobs suggests unemployment is set to decrease to 9.7% in 2015
Consumer sentiment up 16.1% year-on-year
Retail sales have risen almost 10% in real terms while VAT receipts, arguably the most direct measure of retail sector activity, are up 7.9% year-on-year
Source: Savills Research Team
...a true sign of the retail economy improving is the 6.5% per annum rise in GDP
22
23
ACCOMMODATION RETAIL ACCOMMODATION (NIA) Floor
Sq m
Sq ft
Ground
16,213
174,510
First
13,576
146,130
TOTAL
29,788
320,640
Car Parking: 1,700 basement and multi-storey car parking spaces
An assignable measurement survey for the shopping centre is available on the data site.
RESIDENTIAL ACCOMMODATION Type
No.
Average Size (Sq m)
Average Size (Sq ft)
Average Passing Rent (per month)
One Bed
23
45
484
€847
One Bed Penthouse
1
76
821
€900
Two Bed
37
69
747
€962
Two Bed Penthouse
23
78
839
€983
TOTAL
84
Parties are advised to satisfy themselves as to the accuracy of the residential floor areas.
WHITEWATER
SHOPPING CENTRE
FLOOR PLANS
MULTI-STOREY CAR PARK
60 Subject to Planning
ENTR A N CE
MULTI-STOREY CAR PARK
Vacant 27
Kilkenny Design 2A
UCI Entrance
Ice Gin Cr o’s ea m
IN ST RE ET
MA
NE
IN
DG
ET
RI
RE
E
NE WB
RI
Service Yard
DG E
14/15
WB
ST
Hidden Hearing CU4
MA
O’Reilly Recruitment CU5A
Customer Service Desk
1
CU5B
Carraig Donn 25
enty 21 Tw
Craft Angels CU6
Quigleys Cafe
Sky Kiosk
AKM Accessories
CU1B
Neeba Hair Dressers CU2
Bits & Pieces CU3
13B 12A
MK Meats 12B
Vacant 27 Skechers 26
1
Subway Peter Mark 13A CU1AHolland & Barratt Hidden Hearing CU1B
CU4
4
O’Reilly Recruitment CU5A
CEX 28 Carraig Donn 25
Golden Discs 2C
Claire’s Accessories 3B
enty 21 Tw
CU5B
Skechers 26
Dune 2B Vodafone 1A The Health Store 3A
Quigleys Customer The Health Store 3A Cafe Service Desk
Sky Kiosk
19/20
Craft Angels CU6
Whitewater Dental 50
Dune 2B
AKM Accessories
18 Art & Hobby
16B Boston Barbers
MK Meats 12B Neeba Hair Dressers CU2
Vacant 27 ENTRANCE
4
Brambles Cafe
CEX 28
2C to Planning Discs Golden60 Subject Kilkenny Design 2A
Kilkenny Design 2A
5
Beauty Plus
Holland & Barratt 12A Service Yard
Vodafone 1A
Claire’s Accessories 3B
19/20
17 Letting in Legals
E
17 Letting Clarks 8 ls in Lega
DG
16B Boston Barbers
11
Beauty Plus
16A Fields
RI
Brambles Cafe
rs 9Fields Pave16A
WB
Euro Giant
Whitewater Dental 50
51 Newbridge 200
5
NE
11
52 Vacant
53 Kildare GAA
ENTRANCE
51 Newbridge 200
Shoe Lace
wear 6st Menswear 6 Best Mens Be
ET
Customer Service Desk
54 Amarro Bridle
Clarks 8
RE Service Yard Quigleys Cafe
55-56 Vacant
Euro Giant
Pavers 9
ST
UCI Entrance
18 Art & t 7 y Hobb ott 7 mela Scot Pamela Sc Pa
Carraig Donn 25
10 l Express 10 Optical Express Optica
Service Yard
IN
Claire’s Accessories 3B
52 Vacant
53 Kildare GAA
GBK 57-59
MA
Skechers 26
Dune 2B The Health Store 3A
54 Amarro Bridle
55-56 Vacant
60 Subject to Planning
Shoe Lace
CEX 28
Golden Discs 2C
Ice Gin Cr o’s ea m
GBK 57-59
Vodafone 1A
Ice Gin Cr o’s ea m
Whitewater Dental 50
Peter Mark 13A
Subway CU1A
Service Yard
ENTRANCE 14/15
CUTLERY ROAD
GROUND FLOOR CU1B
Neeba Hair Dressers CU2
Bits & Pieces CU3
13B
Subway CU1A
ENTRANCE CUTLERY ROAD
Available
Available
Letting in Legals
Letting in Legals
Subject to Planning
Subject to Planning Available
Occupied
Occupied Letting in Legals
Anchor Tenants
Anchor Subject Tenants to Planning Occupied
MULTI-STOREY CAR PARK
Anchor Tenants MULTI-STOREY CAR PARK
Br o De adw li K ay 1
Pedestrian Footbridge
Br o De adw li K ay 1
FOOD COURT
Burger King FC4 Ginzeng
Vacant
Vacant Vacant K4
l
Diese
ius arius tradiv 46 S
45A
44
and 43 Pull Bear
41/42
ports ports yle S yle S Lifest 45B
l
ar tradiv 46 S
K3 Costa Coffee Lifest 45B
Diese
Kiosk 12
Abrakabara FC5 Burger King FC4
45A
44
41/42
and 43 Pull Bear
30
Card Gallery 31
40 Tiger
a 39 Bershk
40 Tiger
a 39 Bershk
Kiosk 14 Tian Mix
E E IDG IDG BR BR EW EW R ET N R ET N RE RE ST IN MA
Vacant FOOD K4 COURT
Bagel Bar K2
Kiosk 12
ST
K3 Costa Coffee
IN
KFC FC1 O’Briens FC1
Br o De adw li K ay 1
Ginzeng
Abrakabara FC5
MA
30
Card Gallery 31
A Oasis 33
36 Letting in Legals
37 Vacant
38 Vacant
GE
36 Letting in Legals
RID
37 Vacant
WB
arius
ports yle S Lifest
l
Diese
tradiv
45B
45A
44
46 S
Kiosk15
Bagel Bar K2
Kiosk 14 Tian Mix
Kiosk15
38 Vacant
Happy Feet Shoes 35A
Starbucks 35B
Perfume Direct
KFC FC1 O’Briens FC1
e 32 th Sense 32 Sixth Sens Six
A Oasis 33
Perfume Direct
JD Sports 34A/33B
Starbucks 35B
Kiosk 12
E R ET N RE
Vacant K4
Kiosk 14 Tian Mix
ATM
ST
Vacant
IN
Burger King FC4
K3 Costa Coffee
MA
Bagel Bar K2
Abrakabara FC5
JD Sports 34A/33B
ATM
FOOD COURT
Happy Feet Shoes 35A
KFC FC1 O’Briens FC1
ear Menswear Replay MenswReplay 34B 34B
Pedestrian Footbridge Ginzeng
CUTLERY ROAD
CUTLERY ROAD
FIRST FLOOR
24
25
WHITEWATER
SHOPPING CENTRE
PROPOSAL
PRICE
SERVICE CHARGE
We are seeking offers in excess of €150 million exclusive of VAT and subject to contract.
All of the leases are let on an effectively FRI basis with the full cost of running the units being reclaimed via the service charge.
Pricing at this level would reflect a net yield of 7.47% based on Net Operating Income (NOI) of approx. €11,708,000 per annum.
Each tenant has an allocated percentage of this charge which is linked to occupied floor area.
BER
TENURE
BER range:
Freehold.
BER numbers available upon request.
www.whitewaterscsale.com
26
27
CONTACTS
SELLING AGENTS
SOLICITORS
SAVILLS IRELAND 33 Molesworth Street, Dublin 2, Ireland PSRA: 002233
COADY SUPPLE 12 St George Street, London, W1S 2FB, United Kingdom
MCCANN FITZGERALD Riverside 1, Sir John Rogerson’s Quay, Dublin 2, Ireland
Domhnaill O’Sullivan +353 (0) 1 618 1364 Domhnaill.OSullivan@savills.ie
Robin Coady +44 (0) 20 7629 5272 Robin@coadysupple.com
James Murphy +353 (0) 1 607 1272 James.Murphy@mccannfitzgerald.ie
Dessie Kilkenny +353 (0) 1 618 1401 Dessie.Kilkenny@savills.ie
David Sadler +44 (0) 20 7629 5259 David@coadysupple.com
William Scott +353 (0) 1 618 1435 William.Scott@savills.ie
Charles Emmett +44 (0) 20 7629 5251 Charles@coadysupple.com
PROPERTY MISREPRESENTATION ACT The joint agents 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 or Coady Supple nor any of their employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and neither Savills or Coady Supple nor any of their 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. Prices quoted are exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchasers/lessees shall be liable for any VAT arising on the transaction. All maps produced by permission of the Ordnance Survey Ireland Licence No AU 001799 © Government of Ireland. Designed and produced by Creativeworld. Tel +44 [0] 1282 858200
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