21
AUNGIER STREET

AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

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Page 1: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

A U N G I E R S T R E E T

Page 2: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

THE HIGHLIGHTS02

06

20

24

26

36

04 EXECUTIVE SUMMARY

LOCATION

THE SITE

ZONING

FEASIBILITY STUDIES

FURTHER INFORMATION

CONTENTS

Page 3: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

DUBLIN CITY CENTRE

Strategically locatedcity centre

development site

FEASIBILITY STUDY

Feasibility studies demonstrating the development potential for commercial and mixed use schemes, ranging in size from approx. 50,000 - 60,000 sq. m. GFA (SPP)

LOCATION

In the heart of Dublin City centre, situated a stones throw

away from Stephen’s Green

TRANSPORT

Excellent transport links including Luas, Dublin Bus, Irish Rail and Dublin Bikes

LOCAL AMENITIES

Within close proximity to a number of renowned amenities including Grafton Street, Trinity College, Iveagh Gardens, Dublin

Castle and Dawson Street

ZONING

The site is zoned Z5 under the Dublin City development

plan 2016-2022, Allowing For A Diverse Range Of

Development (S.P.P)

SIZE

The total site extendsto approx. 2.5 acres

(1.02 ha)

PLACE MAKING

Aungier Street is of sufficient scale to implement a placemaking plan and create a new and vibrant

urban quarter

D 2 H Q

AUNGIER STREET, DUBLIN 2 0302

Page 4: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

EXECUTIVE SUMMARY

A prime site extending to approx. 1.02 ha (2.5 acres) located in Dublin 2.

Existing building currently occupied by TU Dublin was built in 1989 and ranges in heights from 4-5 storeys above basement car park, extending to approx. 25,842 sq. m in total (GFA).

Zoned Z5 City Centre – ‘to consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity.’

Feasibility study demonstrating the development potential for commercial and mixed use schemes (SPP).

D2HQ, AUNGIER STREET IS ONE OF THE MOST STRATEGICALLY LOCATED DEVELOPMENT SITES IN DUBLIN CITY CENTRE AND OF SUFFICIENT SCALE TO IMPLEMENT A PLACEMAKING PLAN AND CREATE A NEW AND VIBRANT URBAN QUARTER.

>

>

>

>

AUNGIER STREET, DUBLIN 2 0504

Page 5: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

D2HQ OCCUPIES A PROMINENT CORNER SITE AND IS LOCATED ON THE WESTERN SIDE OF AUNGIER STREET AT THE JUNCTION WITH BISHOP STREET AND PETER ROW, APPROX. 350M FROM ST STEPHENS GREEN AND 600M FROM GRAFTON STREET.

The site is situated in a highly accessible area with excellent transport links, with the St Stephen’s Green Luas stop located within 400m, as well as multiple bus routes serving the immediate area. Pearse St DART station is located less than 20 min walk away, while there are several Dublin Bike stations within close proximity.

Harcourt

Stephen’s Green

Charlemont

This way toRanelagh, Dundrum,Sandyford, Brides Glen

Mayor Square

SpencerDock

Point Village

Busaras

Abbey

Jervis

Four Courts

Smithfield

This way toHeuston, Red Cow, Tallaght, Saggart

Dominic

Parnell

O’ConnellUpper

O’ConnellGPO

Westmoreland

Trinity

Dawson

Marlborough

MERRIONSQUARE

STSTEPHEN’SGREEN

IVEAGHGARDENS

RINGSENDPARK

S M I T H F I E L D

FITZWILLIAMSQUARE

ST. PATRICK’S PARK

T E M P L E B A R

D U B L I NP O R T

PORT TUNNEL M50 ACCESS

N

G R A N D C A N A L D O C K

R I V E R L I F F E Y

G R A N D C A N A L

RO

YA

L C

AN

AL

RI V

ER

DO

DD

ER

BARR

OW S

TREE

T

S LOT

TS RO

AD

GRAN

D CAN

ALQU

AY

MACK

EN S

TCA

RDIF

F LAN

E

NORTH WALL QUAY

MAYOR ST LOWER

SHERIFF STREET LOWER

SHERRIFF STREET

EAST

ROAD

EAST

WAL

L ROA

D

SEVILLE PLACE

CUSTOM HOUSE QUAY

SIR JOHN ROGERSONS QUAYLAZER LANECREIG

HTON

ST

LIME

ST

SAMUELBECKETTBRIDGE

YORK ROADHANOVER QUAY

PEARSE STREET

ERNE

ST

LOMB

ARD S

T

HOLL

ES ST

GREEN ST EAST

HANOVER ST

SANDWITH ST

CITY QUAY

GEORGES QUAY

EDEN QUAY

ASTON QUAYBACHELORS WALK

RINGSEND ROAD BRIDGE ROAD

GORDON STREET

FENIAN STREET

MOUNT STREET UPPERFITZW

ILLIAM

ST

FITZW

ILLIAM

PLAC

E

BAGGOT STREET LOWER

BAGGOT STREET LOWER

BAGGOT LANE

LANSDOWNE ROAD

WELL

INGT

ON R

OAD

WATE

RLOO

ROAD

EGLIN ROAD

RAGL

AN R

OAD

SERP

ENTIN

E AVE

NORTHUMBERLAND RD

FITZWILLIAM LANE

MERRIO

N STR

EET U

PPER

HADDINGTON ROAD

BATH AVENUE

PERCY P

LACE

HERBERT PLACE

WILTON TERRACE

BAGGOT STCUFFE STREET

BISHOP STREET

PETER STREET

GOLDEN LANE

CAMDEN STREET LOWER

NEW BRIDE STREET

CLANBRASSIL STREET LOWER

CAMDEN ROW

PLEASANTS PLACE

YORK STREET

KEVIN STREET

PATR

ICK S

TREE

T

LEESON STREET

SOUTH CIRCULAR ROAD MESPIL ROAD

PEARSE STREET

TOWNSEND STFLEET STREET

TARA

STR

EET

MOSS

STR

EET

O’CONNELL STMARLBOROUGH ST

GARDINER STREET LOWER

DAME STREET

EXCHEQUER STREET

GRAF

TON S

TREE

T

GEOR

GES S

T

DAWS

ON S

T

HARCOURT ST

KILD

ARE S

T

NASSAU STREET

PARNELL STREET

CAPEL STREET

PARLIAMENT ST JERVIS STREET

HENRY STREET

ConnollyStation

Tara

Pearse

GrandCanalDock

Lansdowne

DockLands

DUBLINCASTLE

CHRISTCHURCHCATHEDRAL

THE SPIRE

ST. PATRICK’SCATHEDRAL

TRINITY COLLEGE

IFSCCUSTOMHOUSE

CONVENTIONCENTREDUBLIN

AVIVA STADIUM

THENATIONALCONCERT

HALL

TEELING WHISKEY DISTILLERY

LOCATION

DUBLIN BUS – 1 MIN WALK

DUBLIN BIKES – 1 MIN WALK

TAXI RANK – 1 MIN WALK

LUAS GREEN LINE – 4 MIN WALK

LUAS RED LINE – 15 MIN WALK

AIRCOACH – 12 MIN WALK

DART – 18 MIN WALK

BUS EIREANN – 21 MIN WALK

PORT TUNNEL – 20 MIN DRIVE

DUBLIN AIRPORT – 30 MIN DRIVE

AUNGIER STREET, DUBLIN 2 0706

Page 6: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

A HIGHLY ACCESSIBLE AREA WITH EXCELLENT TRANSPORT LINKS, SUCH AS THE ST. STEPHEN’S GREEN LUAS STOP LOCATED WITHIN 400M.

AUNGIER STREET, DUBLIN 2 0908

Page 7: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

01 St. Stephen's Green

02 Iveagh Gardens

03 Grafton Street

04 St. Stephens Green Luas Stop

05 Dawson Street

06 Royal College Of Surgeons

07 Harcourt Street

08 Bishops Square

09 Camden Street

10 The Shelbourne Hotel

11 Merrion Square

12 Dublin Castle

13 South Great George’s Street

14 St Patrick’s Park

15 St Patrick’s Cathedral

16 Trinity College

17 O’Connell Street

18 Leeson Street

19 Dame Street

20 The Westbury Hotel

21 Stephen’s Green Shopping Centre

22 Kevin Street District Garda Station

23 National Museum of Ireland

24 IFSC

25 Grand Canal Dock

26 The Convention Centre

01

10

12

14

15

22

23

25

26

24

13

1920

21

16

17

18

11

02

03

05

04

0708

06

09

AUNGIER STREET, DUBLIN 2 1110

Page 8: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

D2HQ IS SITUATED JUST A 350M STROLL FROM THE TRANQUIL SURROUNDS OF ST. STEPHEN'S GREEN

AUNGIER STREET, DUBLIN 2 1312

Page 9: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

AUNGIER STREET, DUBLIN 2 1514

Page 10: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

D2HQ IS CLOSE TO AN ECLECTIC MIX OF RESTAURANTS, SHOPS AND BARS AT THE HEART OF ONE OF DUBLIN'S MOST EXUBERANT AREAS

AUNGIER STREET, DUBLIN 2 1716

Page 11: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

AUNGIER STREET, DUBLIN 2 1918

Page 12: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

THE SITE EXTENDS TO 2.5 ACRES (1.02 Ha) AND IS LOCATED WITHIN THE HEART OF DUBLIN CITY, WITHIN 350M OF ST STEPHEN’S GREEN, OFFERING THE PURCHASER THE OPPORTUNITY TO DELIVER A BRAND NEW URBAN QUARTER IN A CENTRAL AREA OF DUBLIN CITY. THE SITE IS CURRENTLY OCCUPIED BY A NUMBER OF EXISTING BUILDINGS EXTENDING TO APPROX. 25,842 SQM (278,170 SQFT) IN TOTAL AND OCCUPIED BY TU DUBLIN.

THE SITE

AUNGIER STREET, DUBLIN 2 2120

Page 13: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

The buildings, ranging in height from 4-5 storeys, were constructed in 1989 and extended in 1994 and 2004 and are of steel frame construction with concrete block infill walls and a brick and stone façade. There is a basement car park which provides for 89 parking spaces in total, with an open area to the rear of the buildings.

The site occupies a high profile corner location on the junction of Bishop Street and Peter Row, with excess 240m of frontage facing on to Bishop Street and Peter Row. The site is bound by Bishop Street to the south, Peter Row to the east, Peter Street to the south and the National Archives of Ireland to the west. The entrance to the basement of the existing building is located on Bishop Street, with vehicular access also provided on Peter Street.

AUNGIER STREET, DUBLIN 2 2322

Page 14: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

THE SITE IS ZONED Z5 ‘CITY CENTRE’ UNDER THE DUBLIN CITY DEVELOPMENT PLAN 2016-2022. THE KEY OBJECTIVE OF THIS ZONING IS TO ‘CONSOLIDATE AND FACILITATE THE DEVELOPMENT OF THE CENTRAL AREA, AND TO IDENTIFY, REINFORCE, STRENGTHEN AND PROTECT ITS CIVIC DESIGN CHARACTER AND DIGNITY.’

The primary purpose of this zoning use is to sustain life within the centre of the city through intensive mixed-use development. The aim of this zoning is to provide a dynamic mix of uses which interact with each other, help create a sense of community, and to sustain the vitality of the inner city both by day and night. Under the zoning objective a diverse range of developments are permitted including Office, Residential, Student Accommodation, Hotel & Retail.

The introduction of the Urban Development and Building Height Guidelines for Planning Authorities in December 2018, encourages the increase of development heights in established urban centres. Increasing prevailing building heights is deemed to have a critical role to play in addressing the delivery of more compact growth in our urban areas. Given the extensive scale of the Aungier Street site, and based on recently granted planning applications for city centre sites, there is significant potential to achieve higher buildings within any proposed redevelopment, subject to planning permission being obtained.

zoning

SHIP STREET

BRIDGE STREET

NEW BRIDE STREET

STEPHEN STREET UPPER

CAMDEN STREET

PATRICKS CLOSE

GOLDEN LANEDIGGES STREET UPPER

PETER STREET

WOOD STREET

GOLDEN LANE

ALLEY LANE

BRIDE STREET NEW

STEPHEN STREET LOWER

SHIP STREET GREAT

CHANCERY LANE

WHITEFRIAR PLACE

YORK STREET

YORK STREET

LONGFORD STREET GREAT

BOW LANE EAST

NOEL PURCELL WALK

LONGFORD STREET LITTLE

FADE STREET

DRUR

Y STR

EET

PETER ROW

REDMOND’S HILL

WEXFORD STREET

AUNG

IER

STRE

ET

MERC

ER S

TREE

T LOW

ER

MERC

ER S

TREE

T UPP

ER

CUFF

E LAN

E

KEVIN STREET LOWER

CHUR

CH L

ANE S

OUTH

LIBE

RTY

LANE

KEVIN STREET LOWER

CUFFE STREET

MONTAGUE STREET

MONT

AGUE

LAN

E

MONT

AGUE

COU

RT

MONTAGUE PLACEPROTESTANT ROW

CAMDEN ROW

PLEASANTS STREET

LONG LANE

CATHEDRAL LANE

BISHOP STREET

Zoning Map Dublin City Development Plan 2016—2022

Zone Z5 To consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity.

AUNGIER STREET, DUBLIN 2 2524

Page 15: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

WITH INCREASING APPETITE FOR GRADE A OFFICE SPACE AND BUILD TO RENT APARTMENTS IN DUBLIN, THE SUBJECT PROPERTY PROVIDES THE PURCHASER WITH THE OPPORTUNITY TO DELIVER A LANDMARK DEVELOPMENT IN THE HEART OF DUBLIN 2, SUITABLE TO A VARIETY OF USES.

OMP Architecture and IMG Planning Consultants have prepared a feasibility study and planning report demonstrating the development potential of the subject site. The report provides details demonstrating 3 potential options, with a mix of offices and apartment developments. Both believe that a site density of 60,390 sq. m. GIA would be achievable, subject to planning permission. Both the feasibility study and the planning report are available to download from the dedicated property data room.

OPTION 1

Primary use

This option provides for a fully redeveloped office focused scheme spread over into 3 separate blocks.

The proposed scheme assumes a complete redevelopment and ranges in height from 5-10 storeys above basement, with provision for 148 basement car parking spaces.

Schedule of Accommodation

Block Plans

FEASIBILITY STUDIES

Total GIA Total NIA Site Coverage Plot Ratio Height Strategy

60,390 sq. m. / 650,031 sq. ft.

49,520 sq. m. / 533,028 sq. ft. 82% 6 5-10

Total NIA

Block 1 Block 2 Block 3

25,071 sq. m. / 269,863 sq. ft.

14,063 sq. m. / 151,373 sq. ft.

10,385 sq. m. / 111,783 sq. ft.

AR

EA

UN

DE

R C

ON

ST

RU

CT

ION

GRAFTON HALL APARTMENTS

SHERBORNE APARTMENTS

ADELAIDE SQUARE

ADELAIDE CHAMBERS

WHITEFRIAR PLACE

AUNG

IER

STRE

ET

PETER STREETBRIDE STREET

NATIONAL ARCHIVE

08storeys

08storeys

07storeys

05-08storeys

09-10storeys

REDMOND’S HILL

BISHOP STREET

KEVIN STREET LOWER

BISHOP’S SQUARE AREA UNDERCONSTRUCTION

01

02

03

PETER ROW

CHURCH

View from North East View from Cuffe Street Towards West

Option 1 Plan

Block 1 5-8 Storeys Block 2 9-10 Storeys Block 3 7 Storeys01 02 03

Commercial/Office Use

AUNGIER STREET, DUBLIN 2 2726

Page 16: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

OPTION 2

Primary use

Office redevelopment facing on to Peter Row and Bishop Street in 2 separate blocks.

Secondary Use

PRS redevelopment facing on to Peter Row and Peter Street.

This option provides for a mixed-use development comprising predominately of office use, with PRS to the rear of the site. The proposed redevelopment ranges in height from 5-9 storeys above basement, with provision for 175 basement car parking spaces.

Schedule of Accommodation

Commercial

Residential

Block Plans

Total GIA Site Coverage Plot Ratio Height Strategy

53,790 sq. m. / 578,990 sq. ft. 76% 5.2 5-9

Use GIA NIA

Office 41,860 sq. m. / 450,576 sq. ft. 34,325 sq. m. / 369,470 sq. ft.

Use GIA No. Units

PRS 11,930 sq. m. / 128,413 sq. ft 152

Unit Type No. Units Unit Size Sq. M. Unit Size Sq. Ft.

Studio 24 37 398

1 bed 52 49 527

2 bed (4p) 76 75 807

Total NIA

Block 1 Block 2

20,426 sq. m. / 219,863 sq. ft. 13,899 sq. m. / 149,607 sq. ft.

AR

EA

UN

DE

R C

ON

ST

RU

CT

ION

GRAFTON HALL APARTMENTS

SHERBORNE APARTMENTS

ADELAIDE SQUARE

ADELAIDE CHAMBERS

WHITEFRIAR PLACE

AUNG

IER

STRE

ET

PETER STREET

PETER ROW

NATIONAL ARCHIVE

CHURCH

08storeys

08storeys

05storeys

06storeys

06storeys

08storeys

09 storeys

REDMOND’S HILL

BISHOP STREET

KEVIN STREET LOWER

BISHOP’S SQUARE AREA UNDERCONSTRUCTION

BRIDE STREET

01

02

03

View from South EastView from North East

Option 2 Plan

Block 1 5-8 Storeys Block 2 8-9 Storeys Block 3 8 Storeys01 02 03

Commercial/Office Use Residential

AUNGIER STREET, DUBLIN 2 2928

Page 17: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

OPTION 3

Primary Use

Office redevelopment with an element of retention of the existing building facing on to Peter Row and Bishop Street.

Secondary Use

PRS redevelopment facing on to Peter Row and Peter Street.

This option provides for an element of retention of the existing building with a redevelopment of the remainder, to provide for an office development with PRS to the rear of the site. The proposed development ranges in height from 5-9 storeys above basement, with two potential basement options to provide for 64 – 228 basement spaces.

Schedule of Accommodation

Commercial

Residential

Block Plans

Total GIA Site Coverage Plot Ratio Height Strategy

50,150 sq. m. / 539,809 sq. ft 62% 5 5-9

New Build Retained

Use GIA NIA GIA NIA

Office 29,590 sq. m. / 318,503 sq. ft

24,263 sq. m. / 261,164 sq. ft

8,990 sq. m. / 96,767 sq. ft

7,192 sq. m. / 77,414 sq. ft

Use GIA No. Units

PRS 11,930 sq. m. / 128,413 sq. ft 152

Unit Type No. Units Unit Size Sq. M. Unit Size Sq. Ft.

Studio 24 37 398

1 bed 52 49 527

2 bed (4p) 76 75 807

Total NIA

Block 1 Block 2

17,195 sq. m. / 185,085 sq. ft. 14,260 sq. m. / 155,431 sq. ft.

Option 3 Plan

AR

EA

UN

DE

R C

ON

ST

RU

CT

ION

GRAFTON HALL APARTMENTS

SHERBORNE APARTMENTS

ADELAIDE SQUARE

ADELAIDE CHAMBERS

WHITEFRIAR PLACE

AUNG

IER

STRE

ET

PETER STREET

NATIONAL ARCHIVE

REDMOND’S HILL

BISHOP STREET

KEVIN STREET LOWER

BISHOP’S SQUARE AREA UNDERCONSTRUCTION

BRIDE STREET

01

02

03

CHURCH

PETER ROW

05-08storeys

08-09storeys

08storeys

View from North East View from South East

Block 1 5-8 Storeys Block 2 8-9 Storeys Block 3 8 Storeys01 02 03

Commercial/Office Use Residential Communal Open Space Existing Retained

AUNGIER STREET, DUBLIN 2 3130

Page 18: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

ECONOMIC & MARKET OVERVIEW

OFFICE MARKET DYNAMICS

IRELAND HAS ENJOYED MARKET LEADING ECONOMIC GROWTH IN RECENT YEARS. THE IRISH ECONOMY HAS BEEN THE FASTEST GROWING ECONOMY IN EUROPE FOR FIVE CONSECUTIVE YEARS AND IS EXPECTED TO GROW BY 5.4% IN 2019 AND 3.7% IN 2020I

> Beyond 2020, the medium-term outlook for growth is positive and the country is expected to outperform other major eurozone economies and the USA in the oncoming years.

> Foreign Direct Investment (FDI) has been key to the Irish economy. Large contributors to growth have been Information Communication & Technology within the services sector and Pharmaceuticals in the manufacturing sector.

> While these sectors have been driving headline GDP growth figures, it is worth noting that the primary underlying economic indicators are also highly positive.

> There were an additional 79,900 jobs created in 2019 and the total number of people employed in Ireland now stands at 2.4 million.

> Unemployment has fallen from close to 15% in 2012 to 4.8% at the latest reading in January 2020 with the country now operating at close to full employment.

> Ireland has a young population with one of the highest proportions of 25-44-year old’s in the EU. The latest population Census in 2016 showed the country had 1.4 million people aged between 25-44.

> A return to positive net migration has been a feature in the last number of years with net migration of +33,700 people in the year ending April 2019.

> This was the fifth consecutive year of positive net migration into the country and further supports population growth forecasts.

> The total national population is also forecast to grow by a further 1 million people by 2040ii.

> Investor confidence in Ireland remains robust as evidenced by 10-year bond yields continuing to trade in negative territory and near all-time lows in early 2020.

> Dublin office take-up and demand has seen record levels in recent years.

> The Dublin market achieved over 364,000 square meters (sq. m) of take-up in 2018 - the highest year on record for the capital’s office sector and this trend continued into 2019 with another impressive year of take-up, totalling 302,000 sq. m.

> The Dublin 2/4 district is where much of the leasing activity is concentrated with many of the large technology, financial and professional services firms located in the area.

> On average, take-up in Dublin 2/4 accounts for 50% of total annual Dublin office take-up.

> Vacancy rates in Dublin are low and have settled around 4.2% in Dublin city centre. This rate falls to approximately 3.4% for Grade A stock.

> Prime office rents have now stabilised at approximately €700 per sq. m or €65 per sq. ft which compares favourably with other European capitals.

> Yields on prime offices in Dublin are at 4% and are trending stronger. This rate offers significant upside versus other asset classes.

> Demand levels in the city have remained elevated despite record levels of take-up.

> As of the beginning of 2020, CBRE Ireland track demand requirements for 432,000 sq. m of stock in Dublin. This is a record level of demand and of this total, 71% or 308,000 sq. m is focused directly on the city centre.

> ICT (Information, Communications & Technology) companies dominate from a demand perspective, with their requirements generally of significant scale. In total, 25% of current demand emanates from ICT companies while consumer services (12.8%), financial services (9.1%) and professional services (8.9%) make up other business sectors with significant requirements at present.

Macroeconomic Forecasts: CBRE House View January 2020

Dublin Office Take-Up & Vacancy

Dublin 2/4 vs. Total Dublin Take-up

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

GD

P G

row

th F

orec

ast %

Ireland Spain Germany Euro Area France UK USA

2017 2018 2019(f) 2020(f) 2021(f) 2022(f) 2023(f) 2024(f) 2025(f)

(i) CBRE Global Macroeconomics House View Forecasts, January 2020

(ii) Department of Public Expenditure and Reform, Project Ireland 2040

0

50

100

150

200

250

300

350

400

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

sq. m

Dublin - Dublin 2/4 Dublin Total

Gross Take-Up Vacancy Rate

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

0

50

100

150

200

250

300

350

400

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Take

-up

sq. m

Dublin Office Take-Up & Vacancy

Vanc

ancy

Rat

e

AUNGIER STREET, DUBLIN 2 3332

Page 19: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

RESIDENTIAL MARKET DYNAMICS PRIVATE RENTED SECTOR

> As Dublin has enjoyed economic, employment and population growth, supply into the residential accommodation market has failed to keep pace. As such, the Dublin residential market remains fundamentally undersupplied.

> The young demographic of the country has driven a rise in demand particularly from first-time buyers. Mortgage approvals to first-time buyers rose by 14.4% in 2019 to 25,067iii.

> There have been general societal shifts towards urbanisation. This has seen office-based employment in Dublin grow by 14% since 2014 and is forecast to grow by a further 7% by 2025. This shift places added demands on residential housing stock in the city.

> Consensus forecasts show there is demand for 35,000 housing units per annum in Ireland with at least 40% of those units required in the Greater Dublin Area.

> In 2019 there were 21,241 new dwelling completions in Ireland with close to 7,000 of these in Dublin, clearly considerably below the required amount.

> Daft.ie rental statistics showed an increase of 3.5% in average rental prices in Dublin in the year 2019.

> Dublin is in the midst of the institutionalisation of its Private Rented Sector (PRS) ownership structure. As such, the proportion of commercial investment spend targeted at residential investment has grown exponentially in recent years.

> A total of €2.4bn was invested in PRS in 2019, 33% of total Irish commercial property investment spend. This is up from just over €1 billion of investment in 2018.

> Attractive returns, stable cash flows, capital appreciation and defensive cyclical characteristics are the qualities encouraging institutional investors towards PRS, alongside the demand/supply imbalance and demographics in Dublin specifically.

> Supply of rental stock has been a significant issue for the market and the level of apartments is significantly lower than in other European cities.

> Dublin remains an affordable city for renting by European standards with a lower proportion of renters spending 40% of their disposable income on rent than in other markets.

> Prime yields in the PRS sector are currently at 3.75% in Dublin and are trending stronger.

0%

20%

40%

60%

80%

100%

2015 2016 2017 2018 2019

Office Retail Multifamily Other

Gross Take-Up Vacancy Rate

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

0

50

100

150

200

250

300

350

400

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Tak

e-u

p sq

. m

Dublin Office Take-Up & Vacancy

Van

can

cy R

ate

0

500

1,000

1,500

2,000

2,500

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

2007 Q1

2007 Q3

2008 Q1

2008 Q3

2009 Q1

2009 Q3

2010 Q1

2010 Q3

2011 Q1

2011 Q3

2012 Q1

2012 Q3

2013 Q1

2013 Q3

2014 Q1

2014 Q3

2015 Q1

2015 Q3

2016 Q1

2016 Q3

2017 Q1

2017 Q3

2018 Q1

2018 Q3

2019 Q1

2019 Q3

Rental stock (units)

Ren

tal s

tock

(u

nit

s)

Average R

ent (E

UR

/un

its)

Average rent (EUR/unit)

(iii) Banking and Payments Federation of Ireland Mortgage Approvals, December 2019

Multifamily as a % of Irish investment spend evolution Daft.ie rental stock and prices data

AUNGIER STREET, DUBLIN 2 3534

Page 20: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College

SERVICES

We understand that all mains services are available to the property, however interested parties are required to satisfy themselves on the adequacy and availability of all services to the property. VAT

Further information is provided in the property data room.

VIEWINGS

Are strictly to be arranged with the sole selling agents.

BER CERTIFICATE

Energy Rating: BER Number: 800702771 SOLICITOR DETAILS

MASON HAYES & CURRAN Barrow Street Dublin 4 D04 TR29

NICOLA BYRNE T: +353 (0) 1 614 5237 E: [email protected]

PROPERTY ADVISORS TO TU DUBLIN/GDA

WEBSITE & DATA ROOM

For further information and access to the data room, please visit www.d2hq.ie

CONTACT DETAILS Company Licence No. 316570

3rd Floor, Connaught House 1 Burlington Road Dublin 4 +353 1 618 5500 www.cbre.ie

PETER GARRIGAN Director Head of Development Transactions, Ireland T: +353 1 6185796 E: [email protected]

WILLIE NORSE Executive Director Head of Client Advisory & Strategy, Ireland T: +353 1 6185529 E: [email protected]

DARRAGH DEASY Senior Surveyor Development Transactions, Ireland T: +353 1 6185724 E: [email protected]

WILLIE DOWLING Executive Director Office Leasing, Ireland T: +353 1 6185590 E: [email protected]

FURTHER INFORMATION

DISCLAIMER CBRE Limited for themselves and for the vendor as agents for the vendor give notice that: 1. These particulars are set out as a general outline only for guidance to intending purchasers, and do not constitute any part of an offer or contract. 2. Whilst CBRE Limited use reasonable endeavours to ensure that the information in these particulars is materially correct, any intending purchasers or third parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection, searches, enquiries, surveys or otherwise as to their accuracy. CBRE Limited as such cannot be held responsible for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss of profits resulting from direct or indirect actions based upon the content of these particulars. 3. No person in the employment of CBRE Limited has any authority to make any representation or warranty whatsoever in relation to this property. 4. Unless otherwise stated, all purchase prices and rents are correct at the date of publication and, unless otherwise stated, are quoted exclusive of VAT. Lease details are given as a guide only and should be checked and confirmed by your solicitor prior to exchange of contracts.

FOR SALE ON BEHALF OF TECHNOLOGICAL UNIVERSITY DUBLIN & GRANGEGORMAN DEVELOPMENT AGENCY

Page 21: AUNGIER STREET · 10 The Shelbourne Hotel 11 Merrion Square 12 Dublin Castle 13 South Great George’s Street 14 St Patrick’s Park 15 St Patrick’s Cathedral 16 Trinity College