S DIY NAAS ROAD, Amazon S3
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WO O D I E’S D I Y
N A A S R O A D , D U B L I N 1 2
SECURE LONG INCOME INVESTMENT OPPORTUNITY
Tenant not affected
OPPORTUNITY TO ACQUIRE A LONG INCOME INVESTMENT WITH
AN EXCEPTIONAL COVENANT
The retail warehouse was Let to Woodie’s D.I.Y Ltd.
ANNUAL RENT OF TENANT
completed in 2004 and extends under a 25 year FRI lease from
to approximately 5,602 sq. m. 23rd June 2004 producing an €1,922,769 UNAFFECTED The property extends to approx.
(60,296 sq. ft.) on a Gross Internal
Area (GIA). An outdoor garden 5,602 SQ. M.
centre which adjoins the retail Grafton Group PLC parent (60,296 SQ. FT.)
warehouse extends to 1,363 sq. m. company guarantee, a UK based EXCELLENT
(14,674 sq. ft.) GIA. There are company with a turnover of PROFILE &
approximately 345 surface car ACCESSIBILITY
parking spaces.
£2.21 Unexpired lease term of circa
to all major arterial routes
The building is of steel frame
BILLION 12.5 YEARS Situated on a large site
construction with a mix of cavity extending to approx.
4.60 ACRES
wall and glazed façade.
CLOSE
PROXIMITY
UPWARD ONLY RENT REVIEWS TO THE M50
LUAS Park
M50 and Ride Red Cow
Roundabout
Location
Located between the Naas Road and New Nangor
Road, the property benefits from excellent transport
and delivery routes. The M50 interchange is within
close proximity (Junction 9) which provides access
to all arterial routes and the Red Cow LUAS stop is Naas Road
situated approximately 750 metres from the property.
The immediate area is well known for its retail and
light industries. Nearby occupiers include Harris
Commercial Vehicles, McDonalds, Royal Liver
Retail Park, FBD Insurance, The Red Cow Moran
Hotel, alongside a number of car dealers and home
furnishings suppliers.
M2 M1
DUBLIN
AIRPORT
M3
M50
Long Mile Road
M4
D U B L I N
C I T Y
C E N T R E
M7
New Nangor Road
M50 N11
Tenancy Retail Market
The entire property is LET TO WOODIE’S D.I.Y. LTD. ON A 25 YEAR FRI LEASE FROM 23RD JUNE 2004.
Economic Overview Overall Retail
The current passing rent is €1,922,769 P.A. which is subject to 5 YEARLY UPWARD ONLY RENT REVIEWS. Ireland’s economic output grew by 5.2% in 2016 making Ireland the fastest Sales grew
growing economy in the EU for the third consecutive year. Within this
consumer spending grew at a solid 3% on an annual basis. Underpinned by by 5.9%
the continued improvement in the labour market - employment rose by 3.3%
The LEASE IS GUARANTEED BY GRAFTON GROUP PLC for the duration of the term. per annum in Q4 2016 and unemployment has fallen to 6.4% in March 2017,
(Excluding motor trades)
its lowest rate since 2008.
Covenant Accommodation Schedule Consumer Economy Furniture &
Lighting Sales
With the labour market continuing to tighten, average earnings have risen for
The Grafton Group Plc is an international distributor of
building materials and related activities. The Grafton Group
SQ. M. SQ. FT.
9 quarters and are 5.8% higher than they were at the end of Q3 2014. Coupled
with tax cuts in three consecutive budgets, this has led to a significant lift in
up 16.5%
is ranked number 1 in Ireland for builders and plumbers real household disposable incomes. Adding to this, rising house prices and
Retail Warehouse 5,602 60,296
share values have increased households’ asset wealth - the net worth of
merchanting, and DIY retailing. The Group trades from 35
Irish households has risen by 39.6% in the four years to Q2 2016.
stores nationally under the Woodie’s brand. Outdoor Garden Centre 1,360 14,639
A further important development has been the pronounced rebound in Hardware,
The Grafton Group Plc has a Dun & Bradstreet credit rating Interested parties should satisfy themselves as to the consumer credit. For 75 consecutive months between the end of 2009 and Paint & Glass
March of last year, households paid off consumer debt more quickly than
of 5A2 which represents tangible net worth of £431 million accuracy of the above floor areas.
and a turnover of £2.2 billion based on accounts dated 31st
they drew down new loans, resulting in contracting credit balances. This
changed dramatically from April 2016 and, since then, there has been
up 10.1%
December 2015. The Grafton Group reported a turnover of sustained and sharp growth in outstanding consumer debt. This is significant
£2.5 billion in 2016, up 13% from 2015. for two reasons. Firstly, it adds to consumers’ spending power. Until this
year the consumer recovery had been funded through jobs growth, modest
increases in take home pay and reduced savings. But borrowing has now
added another source of funding for consumer expenditure. Secondly, credit
expansion provides further evidence that the underlying confidence of
Electrical Goods
consumers and banks has returned to a more normalised level.
up 6.3%
Outlook
Although the economic outlook remains broadly favourable, Brexit, the Apple ruling and the US election result have
added uncertainty to the outlook. However Savills econometric analysis, which is based on data going back to 2000,
shows that employment has historically been by far the most important factor in determining the retail rents. With the
latest CSO data showing an acceleration in jobs growth in Q4 2016, and with consensus forecasts pointing to further
robust employment gains, our view is that the fundamentals of the macro-economy should continue to support strong
demand for retail property and further rental growth.
Source CSO (February 2017) & Savills ResearchZoning
The site is zoned Objective EE, to provide for enterprise and
employment related uses under the South Dublin County Council
Development Plan 2016-2022
Viewing
All viewings are strictly by appointment through the sole selling agent.
Guide Price
€26.5 million reflecting a net initial yield of 6.95% assuming
standard purchasers costs of 4.46%
Agent Solicitor
Savills Ireland
33 Molesworth Street, Dublin 2 McCann FitzGerald
PSRA: 002233 Riverside One, Sir John Rogerson’s Quay
www.savills.ie Dublin 2
Dessie Kilkenny Donal O’Raghallaigh
+353 (0) 1 618 1401 +353 (0) 1 607 1268
dessie.kilkenny@savills.ie donal.oraghallaigh@mccannfitzgerald.com
Leona Mullen Aimee Kirwan
+353 (0) 1 618 1762 +353 (0) 1 607 1716
leona.mullen@savills.ie aimee.kirwan@mccannfitzgerald.com
DISCLAIMER: These particulars are issued by Savills Ireland on the understanding that any negotiations relating to the property are conducted through them. While every care has been taken
in preparing them, by Savills Ireland for themselves and for the vendor/lessor whose agents they are, give notice that:- (i) 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. (ii) 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. (iii) Neither by Savills Ireland, nor any of their employees have any authority to make any or give any representation
or warranty in relation to the property.You can also read
