GEORGES DOCK - GEORGES DOCK GEORGE'S DOCK IFSC, DUBLIN
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IFSC INVESTMENT OPPORTUNITY
GEORGES
GEORGESDOCK
DOCK
GEORGE’S DOCK
GEORGES
GEORGESDOCK
DOCK IFSC, DUBLIN 1
J.P. MORGAN HEADQUARTERS
TENANT NOT AFFECTED / Subject to Contract / Contract Denied
Investment Highlights
5A2
D&B
Single let to J.P. Tenant has a The property Quality modern office
Morgan (Ireland) D&B rating of extends on a net building with high specification
Plc, formerly Chase 5A2 providing an internal area basis including raised access
Manhattan Bank excellent covenant (NIA) to 44,483 sq floors, air conditioning, and
on the lease ft (4,132 sq m) with impressive entrance areas
46 no. car spaces
2|
GEORGES DOCK
GEORGE’S DOCK
GEORGES DOCK
High profile Passing Rent: Upwards only
building in the heart €1,804,748 per rent reviews
of the IFSC annum
ONE GEORGE’S DOCK | 3
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LUAS Red Line RSE LUAS Green Line LUAS Cross City Dart Dublin Bike Station Dublin Bus Air Coach 747 Airlink
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GEORGES DOCK
GEORGE’S DOCK
GEORGES DOCK
LOCATION
George’s Dock, IFSC is the Connolly DART and main line rail station and the Luas Red Line
interchange is located 250 metres north west of the property. Luas
most accessible office location in Cross City will connect the existing Luas Green and Red Line, further
Dublin City Centre, benefiting enhancing accessibility and connectivity with the south side of the
from unrivaled public transport city.
links providing ease of access to The location provides rapid access to Dublin Port (10 minutes),
the entire city. The International East Link Bridge (5 minutes) and Dublin’s International Airport (30
minutes). The pedestrian bridge and the Samuel Beckett Bridge have
Financial Services Centre (IFSC) reinforced strong connections between the IFSC and the South
is Dublin’s principal financial Docklands.
district and a well established The immediate area is home to a number of high profile office tenants
commercial location which is including; Danske Bank, KPMG, Wells Fargo, AIG, Citibank, at KBC
Bank and Zurich Bank.
home to over 430 international
and domestic companies.
ONE GEORGE’S DOCK | 5
Local
AMENITIES
There is a host of facilities and amenities
in the vicinity including hotels, cafes, bars,
restaurants and convenience stores. Notable
landmarks located in the vicinity include; The
Convention Centre approximately 750 m
east, the 3 Arena approximately 1.5 km east,
and the property is located directly acrossfrom
the CHQ retail centre.
6|
GEORGES DOCK
GEORGE’S DOCK
GEORGES DOCK
“DUBLIN’S
PRINCIPAL
FINANCIAL
DISTRICT
AND WELL
ESTABLISHED
COMMERCIAL
LOCATION”
ONE GEORGE’S DOCK | 7
CONVENTION BOI MATHESON A&L DILLON
CENTRE GOODBODY EUSTACE
NEW CENTRAL BANK OF DUBLIN AIG AIRBNB MCANN FACEBOOK
IRELAND HEADQUARTERS FITZGERALD
GEORGES
GEORGESDOCK
DOCK
GEORGES
GEORGES
GEORGE’SDOCK
DOCK
DOCK
BNP
PWC KPMG CHQ ZURICH
CONNOLLY PARIBAS
BUILDING
STATION BELFIUS BBVA WELLS CITI
(DART,LUAS,RAIL) BANK IRELAND FARGO GROUP
8|
GEORGES DOCK
ACCENTURE
BLOOMBERG GEORGE’S DOCK
THREE GOOGLE HMH KBC GEORGES DOCK
RIVERDEEP BANK
SMBC MORGAN STRIPE ULSTER
SCOTIA STANLEY BANK
REALEX
SIG RIOT GAMES GRANT THORNTON TWITTER
“UNRIVALED
PUBLIC TRANSPORT
LINKS AND ROAD
NETWORK”
10 |GEORGES DOCK
GEORGE’S DOCK
GEORGES DOCK
DESCRIPTION
ONE GEORGE’S DOCK COMPRISES A FIVE STOREY OVER BASEMENT OFFICE
BUILDING EXTENDING TO APPROXIMATELY 44,483 SQ FT (4,132 SQ M) OF NET
INTERNAL SPACE. IT IS CONSTRUCTED TO A VERY HIGH STANDARD WITH A
CONCRETE FRAME, RED BRICK FAÇADE, CUT STONE ENTRANCE, DOUBLE
GLAZED ALUMINIUM FRAMED WINDOWS AND A FLAT ROOF. THE BUILDING HAS
46 CAR SPACES IN A BASEMENT CAR PARK ACCESSED FROM GEORGE’S DOCK.
The building is of regular configuration consisting of a main
rectangular floor plate with a small return section at either
end incorporating service cores and ancillary office space.
The accommodation is laid out in a combination of open plan,
cellular offices and meeting rooms and fitted out generally
with raised access floors and suspended ceilings. The reception
and core area specification includes: tiled floor, plastered and
painted ceilings with recessed light fittings.
ONE GEORGE’S DOCK | 11Layout / SPECIFICATION:
storey over basement
5 Service core located at taff canteen fitted with
S The basement is laid out
extending to approximately the front wing at each steel commercial catering to provide 46 secure car
44,483 sq ft (4,132 sq m) level incorporating two kitchen and carvery display/ parking spaces and access
NIA. Kone 10 person / 800 kg service area. is shared with the adjoining
lifts serving all floors from building.
30 m frontage to Floor to ceiling heights
basement to fourth floor
George’s Dock. ranging from 2.74 m – Heating / cooling /
and male and female toilet
2.76 m. ventilation is provided via
accommodation on
four pipe fan coil system.
each floor.
The tenant is mid way through a new fit out program whereby the first and second floors are being refurbished, the third and
fourth floors have already been completed and the ground floor is due to be commenced shortly.
Floor Plan / TYPICAL
STA
IRS
STA
IRS
LIF TO
T ILE
LIF TS
T
A fully assignable measured survey
had been undertaken on an NIA
and IPMS basis and is available on
the dataroom.
12 |GEORGES DOCK
GEORGE’S DOCK
GEORGES DOCK
Tenancy DETAILS
Overview Lease
• J.P. Morgan Bank (Ireland) plc, formerly Chase • At review the rent will be 80.44% of open market
Manhattan Bank (Ireland) plc. rental value for the remainder of the lease
• 25 year FRI lease from 6 December 1996 • On lease expiry rent payable will revert to 100%
(5.15 years unexpired) of open market rental value
• 5 yearly upwards only rent reviews • No break option
• Passing rent of €1,804,748 per annum
NO 1 GEORGE’S DOCK
Floor Size Sq. Ft. NIA Cars Tenant Commencement Break Option Expiry Rent pa
J.P. Morgan
Entire 44,483 46 06/12/1996 n/a 05/12/2021 € 1,804,748
(Ireland) plc
Recent Tenant Upgrades
The tenant has carried out various works in recent years including; provision of a an uninteruptable power supply, upgrade
fit out works, boiler replacement etc. Details of the works and Landlord’s licences for the works are located in the datasite.
ONE GEORGE’S DOCK | 13TENANT INFORMATION
JP Morgan Bank (Ireland) plc (previously Chase Manhattan Bank
(Ireland) plc) have a Dun & Bradstreet risk rating of 5A 2 (Financial
strength: 5A) - based on tangible net worth $360,829,570; Risk
Indicator: 2 - Lower than average risk of business failure).
14 |GEORGES DOCK
GEORGE’S DOCK
GEORGES DOCK
“THE IFSC IS THE
CORE LOCATION
OF FINANCIAL
SERVICES IN
THE CITY”
Market
INFORMATION
• The Dublin office market continues to perform
well with strong demand, continuing rental
growth, and increased construction activity.
• The Dublin office market totals 37 million sq.
ft. and 19 million sq. ft. is in the city centre.
The IFSC represents approximately 8.9% of
the Dublin city centre office market.
• Overall vacancy in the market now stands at
7.8% and the city centre Grade A vacancy
rate is just 3.3%.
• The overall vacancy rate for the IFSC is
currently 4.5% which is significantly below the
Dublin average.
• Demand for the overall Dublin market remains
strong and it is anticipated to continue to be
ahead of long-term averages, with in excess
of 2.5 million sq. ft. of take-up expected
for 2016.
• Dublin city centre remains the focus of
demand in the office market, accounting for
61% of take-up in the year to date.
• In the last 12 months, 73% of deals in Dublin 1
have been less than 10,000 sq. ft. There was
only 1 deal greater than 40,000 sq. ft.
• Rents vary depending on location and quality,
but prime city centre rents are now in the
region of €55 to €65 per sq. ft.
ONE GEORGE’S DOCK | 15TITLE
The property is held
under long leasehold title.
BER RATING
Ber No: 800334468
EPI: 440.75 kWh/m²/yr
SOLICITOR
Mel Ferguson
Sheehan & Company
Solicitors
1 Clare Street
Dublin 2
Tel: 661 6922
fergusonm@sheehanandco.ie
VIEWING
Strictly by appointment
through JLL as sole selling agents.
Styne House
Upper Hatch Street
Dublin, D02 DY27
www.jll.ie
CONTACT
JOHN MORAN
Managing Director
+353 (0)1 673 1600
John.Moran@eu.jll.com
LAURA TORPEY
Senior Surveyor
+353 (0)1 673 1656
Laura.Torpey@eu.jll.com
DECLAN SEXTON
Senior Surveyor
+353 (0) 1 673 1627
Declan.Sexton@eu.jll.com
PSP Licence No: 002273
The particulars and information contained in this brochure are issued by JLL on the understanding that all the negotiations are conducted through them. Whilst every care has been taken in
the preparation of the particulars and information they do not constitute an invitation to treat, an offer or a contract of any nature whether express or implied. All descriptions, dimensions,
maps, plans, artists’ impressions, references to condition, permissions or licences of use or occupation, access and other details are for guidance only and may be subject to change, without
prior notification. The particulars and information are given in good faith but no intending purchaser/tenant should rely on them as statements or representations of fact and is specifically
advised to undertake its own due diligence (at its own expense) to satisfy itself as to the accuracy and/or correctness of the particulars and information given. None of JLL, its employees,
agents or affiliate companies, makes any warranty or representations whether express or implied with respect to the particulars and/or information and which are to the fullest extent
permitted by law, disclaimed; furthermore, such parties accept no liability in respect of any loss suffered by any intending purchaser/tenant or any third party arising out of the particulars
or information. Prices are quoted exclusive of applicable taxes such as VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchaser/lessee shall be liable
for any applicable taxes or VAT arising out of the transaction.
16 |
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