FOR SALEBY PRIVATE TREATY (TENANTS NOT AFFECTED)

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SIGNIFICANT ACTIVE HOUSING

DEVELOPMENT AND ZONED LAND IN THE IMMEDIATE

VICINITY (WITH LIMITED NEW GROCERY COMPETITION

PROPOSED)

FULLY LET WITH THE UNITS SUBJECT TO SALE PRODUCING

€329,920 PER ANNUM

MODERN SHOPPING CENTRE SITUATED

IN A THRIVING RESIDENTIAL SUBURB

TENANTS INCLUDE BOYLE SPORTS, ISCHIA

HAIR, THE IVY CAFÉ AMONGST OTHERS, MANY WHO HAVE

BEEN TRADING IN THE CENTRE FOR OVER A

DECADE

WAULT OF OVER 10 YEARS PROVIDING A LOW MAINTENANCE

INVESTMENT OPPORTUNITY

ATTRACTIVE NIY OF 8.0%

Johnstown Shopping Centre is located in Navan, a thriving commercial town with a population of over 30,170 people (Census 2016). The town is highly accessible and is less than an hour from Dublin (47 kms) via the M3 motorway.

The centre is located to the south-east of Navan town centre and is a densely populated with approximately 2,769 households (9,227 people) in the vicinity of the centre. Johnstown Shopping Centre is the only grocery centre serving this area.

There is active housing development in the area including the exclusive developments of Carne Wood (5 bed detached homes), Caislean Mainear (4&5 bed detached homes), Dunville (2, 3 & 4 bed homes) and Cois Glaisin (mix of 3, 4 & 5 bed homes) which collectively will add an additional 676 units once completed. In addition, according to the Residential Land Availability Survey 2014 there is a further 57.0 ha (141 ac) of residential zoned lands which have the capacity to provide an additional 2,200 homes to the area. For Illustration Purposes Only

LOCATION

IDA Park

Navan Town Centre

River Boyne

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Johnstown Shopping Centre is a modern and established retail centre extending to a total area of 3,563 sq m (38,347 sq ft).

The centre is anchored by a very successful 2,160 sq m (23,251 sq ft) SuperValu which was recently subject to a complete store re-fit.

The subject sale includes the majority of units in the centre including Boyle Sports, Bennett Optical, Ischia Hair & Beauty, Park Avenue Homeware & Gifts, The Ivy Café, Pets & More, Just a Thought Newsagent, Tara Barbers and Final Touch Dry Cleaners, many of

which are well established trading from the centre for well over a decade. The owner-occupied elements of the scheme, namely SuperValu, Costa and the upper floor offices do not form part of the subject sale. In addition, Hickey’s Pharmacy is held separately as a standalone investment.

The centre is serviced by a large surface car park with over 400 spaces which is shared with Taylors Bar & Fifty50 Restaurant, a former leisure centre and HSE healthcare facility which form part of the estate and provide additional footfall to the centre.

DESCRIPTION

CAR PARK

400 SPACES

Bóthar Sion

⊳ To M3 / 147

SuperValuService Yard

TaraBarber

WC TechWizard

Just a Thought

Pets &M

ore

Final Touch

ParkAvenue

Leisure Centre

TaylorsPublicHouse

Medical Centre

Leisure Centre

TaylorsPublicHouse

Medical Centre

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N >Floor plans are for illustration purposes only.

Units not included in subject sale

Units included in subject sale

FLOOR PLANShop Unit Trading As NIA Sq. M NIA Sq Ft

1A Tara Barbers 17.78 191 2 Final Touch 102.44 1,103 3 Pets & More 104.01 1,1204 & 5 Boyle Sports 207.51 2,2346 The Ivy Café 104.56 1,125 7 Just a Thought 105.83 1,13910 Park Avenue 81.80 880 10A Bennett Optical 47.40 510 11 Ischia Hair & Beauty 208.49 2,244 12 Tech Wizard 7.83 84Total 987.65 10,631

TENANCY SCHEDULE AND ANALYSIS

TERM CERTAIN BY INCOME TENANTS BY INCOME

Demise/ Unit No. NIA(Sq Ft)

Tenant Trading As

Lease Commencement Term Lease Expiry Break Date Next Rent

ReviewRent Review

Type Term Certain Passing Rent

1A 191 Tara Barbers 01/02/18 10 31/01/28 31/01/23 31/01/23 OMR 4.33 €8,0002 1,103 Final Touch 19/04/05 25 18/04/30 01/01/20 UORR 11.54 €16,6353 1,120 Pets & More 01/10/16 5 30/09/21 _ OMR 2.99 €16,0004

2,234Boyle Sports 06/09/17 12.74 02/06/30 06/09/25 OMR 11.66 €45,000

5 Boyle Sports 03/06/05 25 02/06/30 01/04/15 UORR 11.66 €44,3476 1,125 The Ivy Café 07/11/07 25 06/11/32 01/10/17 UORR 14.09 €34,0007 1,139 Just a Thought 28/10/17 11.96 12/10/29 27/10/22 OMR 11.03 €31,00010 880 Park Avenue 21/09/17 10 20/09/27 20/09/20 20/09/22 OMR 3.96 €22,000

10A 510 Bennett Optical 13/10/04 25 12/10/29 Expired (2014) 12/10/20 UORR 11.03 €14,734

11 2,244 Ischia Hair & Beauty 23/10/07 25 22/10/32 01/10/22 UORR 14.05 €58,238

12 84 Tech Wizard 09/09/17 2.16 08/11/19 - - 1.10 €8,215Phone Mast - 3G 08/12/05 16.63 25/07/22 01/01/16 OMR 3.81 €9,250Phone Mast - Meteor 18/05/06 5 Rolling 0.5 €12,500Phone Mast - Vodafone 21/12/06 20.00 20/12/26 21/12/16 UORR 8.21 €10,000

TOTALS 10,631 10.12 €329,920For discussion purposes only - this analysis should not be used for funding purposes and should not be used to influence an instruction. The contents of this document is for the benefit of the client only - non reliance.

11%

12%

3%

74%

0-3 years

3-5 years

5-10 years

10+ years

Boyle Sports

Ischia Hair & Beauty

Mast Income

The Ivy Café

Just a Thought

Park Avenue

Final Touch

Pets & More

Bennett Optical

Tech Wizard

Tara Barbers

27%

18%

10%10%

9%

7%

5%

5%4%

3% 2%

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Zoned residential

Dunville(Under construction)

Cois Glaisin(Under construction)

Caislean Minear(Completed)

Caren Wood(Completed)

School(Under construction)

IDA parkZoned residential

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The vendor acquired Johnstown Shopping Centre in 2015 at a time when the centre lacked capital investment and suffered from high levels of vacancy. Since acquiring the asset, the vendors have enhanced the tenant line up to include new lettings to Boyle Sports and Park Avenue resulting in 100% occupancy. In addition, a significant amount of asset enhancement / capital expenditure has been invested to improve the centre including;

n Re-cladding the façade

n Improvements to the car park

n Signage upgrades

n Tenant relocations

n Unit amalgamations

n New tenant fit outs

There is a significant quantum of active housing development in the vicinity of Johnstown which collectively will deliver an additional 676 units when completed. In addition, there is over 57 ha (141 ac) of residential zoned land in the area which has the capacity to deliver an additional 2,200 homes, underpinning the sustainability and future growth prospects for Johnstown Shopping Centre.

CURRENT RESIDENTIAL ACTIVITY NEAR JOHNSTOWN SCScheme Developer No. of Units StatusCarne Wood Private Developer 21 CompletedCaislean Minear Private Developer 19 CompletedCois Glaisin Glenveagh 326 Under ConstructionDunville, Johnstown Granbrind 310 Under ConstructionTotal number of Units 676

ASSET MANAGEMENT IMPROVEMENTSCOMPLETED

ACTIVE HOUSING DEVELOPMENT

Hambleden House, 19/26 Pembroke Street Lower, Dublin 2

Roderick Nowlan+353 (1) 6477900rnowlan@bannon.iePSRA: 001830-002131

Alexandra Patterson+353 (1) 6477900apatterson@bannon.iePSRA: 001830-002397

These particulars are issued by the agents on the understanding that any negotiations relating to the property are conducted through them. While every care is taken in preparing them, the agents , for themselves and for the vendor/lessor whose agents they are, give notice that – (a) 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. (b) Any representation including descriptions, 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. (c) Neither the agents nor any of its employees have any authority to make or give any representations or warranty in relation to the property All maps are produced by permission of the Ordnance Survey Ireland Licence No. AU0047010 © Government of Ireland.

Brochure design by

TITLELong leasehold.

VATTransfer of Business.

BER

PRICEOn application.

VIEWINGSStrictly through the sole selling agent.

SOLICITOR

A&L Goodbody, North Wall Quay, North Wall, Dublin 1, D01 H104

Paul McGrath+353 (1) 649 2000

AGENT

DATA ROOMPlease log onto

www.johnstownscnavan.com to request access.