CONTENTS Reduced_3639337.pdf5.1% 2.3% Year-on-year % change 0 2008 2010 VALUE VOLUME Q1 97 Q1 98 Q1 99 Q1 00 Q1 01 Q1 02 Q1 03 Q1 04 Q1 05 Q1 06 Q1 07 Q1 08 Q1 09 Q1 10 Q1 11 Q1 12

CONTENTS

INTRODUCTION 4

PORTFOLIO ANALYSIS 8

WHY INVEST IN IRISH RETAIL PROPERTY 10

ATHLONE TOWN CENTRE 11 FACTS & FIGURES 14

LOCATION 22

CATCHMENT AREA 25

DESCRIPTION 27

SITE PLAN 34 FLOOR PLANS 36

MACDONAGH JUNCTION 38 FACTS & FIGURES 40

LOCATION 48

CATCHMENT AREA 51

DESCRIPTION 52

FLOOR PLANS 54

GOREY SHOPPING CENTRE 56 FACTS & FIGURES 60

LOCATION 64

CATCHMENT AREA 67

DESCRIPTION 68 FLOOR PLANS 70

WESTSIDE SHOPPING CENTRE 72 FACTS & FIGURES 74

LOCATION 78

CATCHMENT AREA 80

DESCRIPTION 81

FLOOR PLANS 82

TIPP TOWN SHOPPING CENTRE 84 FACTS & FIGURES 86

LOCATION 90

CATCHMENT AREA 91


ORWELL SHOPPING CENTRE 96 FACTS & FIGURES 98

LOCATION 102

CATCHMENT AREA 103


CONTACTS & FURTHER INFORMATION 108

CORNERSTONE PORTFOLIO CORNERSTONE PORTFOLIO

32

ORWELL ATHLONE

GOREYTIPP TOWN

WESTSIDE SHOPPING CENTREDUBLIN 6W

SHOPPING CENTREKILKENNY

SHOPPING CENTREGALWAY

TOWN CENTREWESTMEATH

SHOPPING CENTREWEXFORD

SHOPPING CENTRETIPPERARY

JUNCTION

LOCATION OF THE ASSETS

These diverse assets represent a major opportunity to obtain a significant stake and exposure to the fast recovering Irish retail market. The portfolio offers a strong geographic spread and a strong line-up of tenants, along with 150 high quality residential units. Each shopping centre has its own strengths and collectively they provide a purchaser with excellent exposure to the retail market.

PROPOSAL

The entire is for sale by private treaty on the instructions of Paul Mc-Cann and Stephen Tennant of Grant Thornton as Receivers over the var-ious assets. Offers are invited for the entire portfolio as a single lot only at a guide price in excess of €115 million (One Hundred and Fifteen Million EURO), subject to contract and exclusive of VAT. A purchase at this price reflects an attractive Net Income Yield of ap-proximately 7.35%, based on current net rent receivable of (after deduct-ing all irrecoverable landlord costs) assuming usual purchaser’s costs of 4.46%. Cornerstone Portfolio is being marketed on the instructions of the Re-ceivers and therefore no warranties or guarantees in any respect, includ-ing but not limited to VAT, can be given. The Receivers are not bound to accept the highest or any offer and are acting without personal liability. This is an investment sale and therefore no tenants are affected.

INTRODUCTIONON BEHALF OF THE VENDORS, JLL ARE DELIGHTED TO PRESENT THE CORNERSTONE PORTFOLIO OF SIX SHOPPING CENTRES

6 SHOPPING CENTRES ACROSS 6 COUNTIES

APPROX 675,000 SQ FT OF SPACE

175 RETAIL & COMMERCIAL UNITS WITH LOW VACANCY RATE OF 17%

OVERALL WAULT OF APPROX. 10.4 YEARS (EXCL. MULTI-FAMILY)

MAJOR TENANTS INCLUDE

NEXT, RIVER ISLAND, MARKS & SPENCER, H&M AND TK MAXX

NET INCOME OF

€8.83 MILLION PER ANNUM

INCLUDES 150 HIGH QUALITY RESIDENTIAL UNITS WITHIN ATHLONE TOWN CENTRE

AN OPPORTUNITY TO INVEST AT SCALE IN THE RECOVERING RETAIL MARKET


54

WESTSIDE SHOPPING CENTREGALWAY - CO. GALWAY

TIPP TOWN SHOPPING CENTRETIPPERARY - CO. TIPPERARY

ORWELL SHOPPING CENTRETEMPLEOGUE - DUBLIN 6W

• Neighbourhood shopping centre completed c. 1980

• Anchored by Dunnes Stores (not part of sale) and McDonalds

• 25,089 sq.ft of retail with 14 units

• TOTAL Income €784,612 pa

• Neighbourhood shopping centre completed c. 2007

• Anchored by Dunnes Stores (not part of sale)

• Vacancy offers opportunity to improve return

• 18,572 sq of retail with 9 units

• TOTAL Net Income €162,110 pa

• Supervalu anchored local centre

• Well established neighbourhood

• Ample free surface car parking

• 23,852 sq. ft of retail and ancillary space in 10 units

• TOTAL Net Income €547, 300 pa

ATHLONE TOWN CENTREATHLONE - CO. WESTMEATH

MACDONAGH JUNCTIONKILKENNY - CO. KILKENNY

GOREY SHOPPING CENTREGOREY - CO. WEXFORD

• Major mixed use development completed 2007

• Leading brand names include M&S, ZARA, H&M and NEXT

• Sale includes 211,740 sq.ft retail and commercial space and 150 high quality residential units

• TOTAL Net Income €5,330,634 pa

• Leading shopping centre in Kilkenny city, completed 2007

• 218,137 sq.ft centre

• Major retailers include Dunnes (not part of sale), TK Maxx, Next, River Island and H&M

• Interest for sale provides 50% control of core units, 100% of non-core and 50% of car park.

• TOTAL Net Income €1,295,000 pa

• Striking shopping centre completed in 2007

• Anchored by Dunnes Stores (not part of sale)

• Serves catchment area of 81,899

• 35,784 sq.ft of retail with 24 units

• TOTAL Net Income €708,405 pa


76

0-14 yrs 15-29 yrs 30-44 yrs 45-59 yrs 60yrs+0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

110,000

0-2 yrs 2-5 yrs 5-10 yrs 10+ yrs0

€1,000,000

€2,000,000

€3,000,000

€4,000,000

€5,000,000

18.04%

31.75%

39.80%

10.41%

SCHEME VACANCY

UNEXPIRED LEASE PROFILE

NET INCOMEPER ANNUM

COVENANTPROFILE

BY INCOME

ATHLONEINCL. MULTI-FAMILY€5,330,634

60%

35.8%

15%

8%

38.1%

9%

2%6%

26.1%

GOREY€708,405

WESTSIDE€784,612

TIPP TOWN€162,110

ORWELL€547,300

MACDONAGHJUNCTION

€1,294,162

50,000

0ATHLONETOWN CENTRE

ORWELLSHOPPING CENTRE

MACDONAGH JUNCTION

WESTSIDESHOPPING CENTRE

GOREYSHOPPING CENTRE

TIPP TOWNSHOPPING CENTRE

SCHEME VACANCY

100,000

150,000

200,000

250,000

300,000

350,000

400,000

12.29%

25.48%

26.24% 0% 0%30.96%

TOTAL SCHEME AREAS

TOP 15 TENANTS

CATCHMENT BY AGE PROFILE

RANK TENANTS RENT

1 Next €595,166

2 River Island €469,200

3 Marks & Spencer €432,700

4 H & M €365,975

5 Hickeys Pharmacy €325,000

6 Horkan €321,000

7 TK Maxx* €317,135

8 Fields Jewellers €271,000

9 Carphone Warehouse €228,455

10 JD Sports €220,000

11 Topshop €216,620

12 Zara €211,078

13 Clarks €204,325

14 Easons €188,720

15 McSharry’s Pharmacy €178,000

TOTAL €4,544,374

ATHLONE 9.4 YEARS

MACDONAGHJUNCTION

6.9 YEARS

GOREY 13.3 YEARS

WESTSIDE 15.3 YEARS

TIPP TOWN 14.4 YEARS

ORWELL

TOTALTOTAL

12.7 YEARS

10.4 YEARS€9,787,096

PORTFOLIO ANALYSIS

OVERALL SPACE

PER SCHEME

ATHLONE INCL. MULTI-FAMILY353,193 SQ FT

BASED ON THE GROSS RENT RECEIVABLE BEFORE IRRECOVERABLE VOID COSTS

BASED ON NET RENT RECEIVABLE AFTER DEDUCTION OF ALL LANDLORD IRRECOVERABLE VOID COSTS

*TK MAXX INCOME ABOVE WILL INCREASE ON EXPIRY OF RENT FREE IN ATHLONE

BASED ON THE GROSS RENT RECEIVABLE BEFORE IRRECOVERABLE VOID COSTS

SQ FT

MULTINATIONAL€3,501,304

NATIONAL€3,729,703

LOCAL€2,556,088

52.35%

32.33%

3.54%

5.30%3.72%

2.75%GOREY

35,784 SQ FT

WESTSIDE 25,089 SQ FT

TIPP TOWN 18,572 SQ FT

ORWELL23,852 SQ FT

MACDONAGHJUNCTION

218,137 SQ FT

WAULT PER CENTRE


98

2007 2009 2011 2012 2013 Dec-14

-20

-15

-10

-5

5

10

5.1%

2.3%

0

Yea

r-on-y

ear

% c

ha

ng

e

20102008

VALUE VOLUME

Q197

Q198

Q199

Q100

Q101

Q102

Q103

Q104

Q105

Q106

Q107

Q108

Q109

Q110

Q111

Q112

Q113

Q114

0

500

1000

1500

2000

3000

2500

ERV CAPITAL VALUE

Ind

ex (

10

0=

19

73

)

Feb96

Feb97

Feb98

Feb99

Feb00

Feb01

Feb02

Feb03

Feb04

Feb05

Feb06

Feb07

Feb08

Feb09

Feb10

Feb11

Feb12

Feb13

Feb14

0

20

40

60

80

120

140

100

Ind

ex (

10

0=

19

95

)

JLL IRISH PROPERTY INDEX: RETAIL

2007 2008 2009 2010 2011 2012 2013 2014(f) 2015(f)

-8%

-6%

-4%

-2%

0%

4%

6%

2%

Y-o

-Y %

Cha

ng

e

2007 2008 2009 2010 2011 2012 2013

10.5%

Jan2015

0%

2%

4%

6%

8%

12%

14%

16%

10%

Unem

plo

ym

ent

Ra

te

The Consumer Sentiment Index (ESRI) has increased in the 12 months to De-cember 2014 from 79.8 to 90.5. There has been a consistent upward trend since 2011. Private sector PMI’s are also show-ing strong signs of recovery.

Inflation remains stable, with no inflation-ary pressure on the economy.

Annual retail sales levels have increased in the last 12 months, with Values (2.3%) and Volumes (5.1%) higher than Decem-ber 2013 (CSO). Retail sales have shown positive annual increases for the last 12 months for both Volumes and Values (chart).

The JLL Irish Property Index shows that across all retail sectors, ERVs decreased by 51.6% from the peak of the market in Q1 2008 to the trough in Q1 2014. Since they bottomed, they have increased by 8.0% although they remain 47.7% lower than the peak.

Retail Capital Values have also decreased significantly, with falls of 70.4% from the peak in Q3 2007 to the trough in Q2 2013 ( JLL Irish Property Index). Positively, Capital Values have increased for the last 6 consecutive quarters, with an increase of 42.3% since the trough. Retail Capital Values remain 57.8% below the peak of the market, and are therefore at a turning point in the cycle

ESRI CONSUMER SENTIMENT INDEX

CSO VALUE AND VOLUME OF RETAIL SALES

CONSUMER SENTIMENT UPTURN

SPENDING IS INCREASING

RETAIL RENTS AND VALUES ARE RISING

WHY INVEST IN IRISH RETAIL PROPERTY?

Ireland’s macro-economic recovery has been one of the most robust in Europe, with key economic indicators performing strongly.

Ireland has witnessed consecutive positive GDP growth, with a 3.5% increase year on year to Q3 2014 (CSO). The Central Bank is forecasting annual growth of 4.5% for 2014 and 3.4% for 2015. The out-look is therefore strongly positive for the economy .

GNP is steadily improving. Year-on-year GNP showed an increase for the fourth consecutive quarter, with growth of 2.5% in the 12 months to Q3 2014 (CSO). Central Bank forecasts show further growth of 4.9% in 2014 and 3.1% in 2015.

There is also clear sign of recovery in labour markets, with decreasing unem-ployment rates from a peak of 15.1% in 2012 to 10.5% in January 2015 (CSO). IBEC forecast the unemployment rate to continue to decrease with single digit unemployment by 2015 (9.6%).

Employment is also rising with over 60,000 new jobs created in 2013 and a continuing increase in 2014. This is positive for consumer sentiment and confidence as well as the macro-economic impact.

STRONGLY RECOVERING ECONOMY

IRELAND GDP (CSO AND CENTRAL BANK)

CSO UNEMPLOYMENT RATE

STRONG JOB GROWTH AND FALLING UNEMPLOYMENT


1110

PROPERTY 1ATHLONE TOWN CENTRE

THE LEADING MIDLANDS SHOPPING DESTINATIONA

THLO

NE

COMMERCIAL INCOME: €4,848,153PER ANNUM

MODERN MIXED USE DEVELOPMENT IN THE HEART OF THE TOWN:

TOP 10 TENANTS 176,452 SQ FTRETAIL SPACE

WAULT: 9.41 YEARS

35,288 SQ FTOTHER COMMERCIAL

141,453 SQ FTRESIDENTIAL

RESIDENTIAL INCOME: €1,328,700 PER ANNUM

RANK TENANTS RENT

1 Next €470,506

2 Marks & Spencer €432,700

3 River Island €360,000

4 H&M €275,286

5 JD Sports €220,000

6 Topshop €216,620

7 Zara €211,078

8 Clarks €204,325

9 Fields €180,000

10 Eason €165,000

TOTAL €2,735,515

FACTS & FIGURES

ATHLONE IS THE MAJOR URBAN CENTRE IN IRELAND’S MIDLANDS REGION, WITH A POPULATION OF OVER

MODERN SHOPPING CENTRE ANCHORED BY M&S WITH NEXT, ZARA, H&M AND OTHER TOP BRANDS

DESTINATION SHOPPING FOR CATCHMENT AREA OF 158,747 PEOPLE

20,000

CORNERSTONE PORTFOLIO PROPERTY 1 - ATHLONE TOWN CENTRE

1514

HOTEL(IN SEPARATE OWNERSHIP -

NOT PART OF SALE)

DUNNES STORES

GLEESON ST. SITE

ATHLONE TOWN CENTRE

RAILWAY STATION

PRINCE OF WALES HOTEL

ATHLONE CIVIC CENTRE

For indicative purposes only.


1716


1918


2120

RI

VE

R

SH

AN

NO

N

G o l d e n I s l a n d

B u r g e s sP a r k

L o w e r Rd

S t M a r y ’s S q u a r e

Ab

be

y

R

d

Ma

ga

zi

ne

R

d

Pe

ar

se

St

B a t t e r y H e i g h t s

Cl o

no

wn

Rd

Ca

na

l Ba

nk s

Pa

rne

l l Sq

ua

r e

L ys t e

r St

De

er p

aa

rk R

d

Go

ld

en

I

sl

an

d

F a i rG r e e n

C L O G H A N B O YW E S T

C U R R A G H( M E C H U M )

W A R R E NF I E L D S

S t F r a

n c is Te r r a c e

Ch

ur c

h S

t

C o u r t Deve

nish

M a r d y k e S t

The Crescent

No

rth

ga

te S

t

S o u t h e r n S t a t i o n R d

T h e S

t r a n d

John

Bro

deri

ck S

t

S t R u t

h ’s

P ar k

C o n n a u g h t S t

AthloneDistrictHospital

AthloneCastle

Corpus ChristiChurch

FranciscanChurch & Friary

St. Mary’sCatholic Church

Pioneer’sFC

Tesco

Dunnes

R915

R915

R446

R446

R446

R446

ATHLONE

Athlone is the largest town in the Midlands region. The town is situated on the River Shan-non and the shore of Lough Ree. It has a population of 20,153 people and serves an ex-tensive surrounding hinterland including the towns of Mulling-ar, Tullamore, Roscommon and Ballinasloe.

In addition to its role as a thriv-ing shopping hub, Athlone is a strong tourism destination with numerous hotels including the 4-star Sheraton, Radisson Blu and Prince of Wales. A variety of sporting, tourism and enter-tainment facilities include AIT Indoor Athletic Arena, Athlone Regional Sports Centre, an IMC Cinema, the Crowe Thea-tre & Arts Centre and others.

The main 3rd level institution in the region, Athlone Institute of Technology, is located in the town and has approximate-ly 6,000 full and part-time students. The town has easy motorway access to Dublin and Galway, as well as comprehen-sive rail and bus services.

Athlone has a number of major multi-national companies in the area including Ericsson, Alkermes, Covidien and KCI. Other employers include the regional headquarters of state bodies such as IDA Ireland, Department of Education, The State Examinations Commis-sion, Revenue Commissioners and FÁS Midlands Region.

ATHLONE IS THE LARGEST TOWN IN THE MIDLANDS REGION, EXCELLENT

FOR TOURISM

ATHLONE


2322

We s t m e a t h

G a l w a y

R o s c o m m o n

O f f a l y

L a o i s e

L o n g f o r d

N60

N61

N63

N62

N4

N5

N52

N65

N55

N62

M7

M6

25kmDrive Distance

45kmDrive Distance

ROSCOMMON

LONGFORD

TULLAMORE

BALL INASLOE

MULL INGAR

PORTLAOISE

ATHLONE

CATCHMENT AREA

The catchment area for Athlone Town Centre extends to a 45km driving distance in all directions reflecting its central location in the midlands. Both Athlone Town Centre and the surround-ing town offer a strong com-parison shopping experience and are a shopping destination for towns such as Roscommon, Longford, Ballinasloe, Birr, Tullamore and the western parts of Mullingar.

The total population of this catch-ment area was 158,747 persons at the 2011 Census. The population of the urban area of Athlone and suburbs grew by 14.9% between 2006 and 2011. 42% of the catchment population is aged 29 or lower. The catchment includes 57,562 households with a total purchasing power of €2,596 million per annum. It is estimated that €98.7 million of this is spent on clothing and apparel.

The catchment area has the following characteristics (Source ESRI):

• ATHLONE TOWN CENTRE HAS A UNIQUE COMPARISON SHOPPING OFFER IN THE CATCHMENT AREA

• THERE IS A TOTAL OF 57,562 HOUSE-HOLDS IN THE CATCHMENT WITH AN AVERAGE HOUSEHOLD SIZE OF 2.76 PERSONS WHICH IS CLOSE TO THE NATIONAL AVERAGE

• THERE IS AN AVERAGE PURCHASING POWER OF €16,351 PER CAPITA PER ANNUM WITHIN THE CATCHMENT, A TOTAL SPENDING POWER OF €2,595 MILLION PER ANNUM

* Products only listed (personal care, entertainment services and catering services omitted).

CATEGORY OF SPEND ANNUAL SPEND WITHIN CATCHMENT

Apparel and Services €98,791,026

Household (Furnishing, Maintenance and Equipment) €136,517,617

Personal Care * €32,297,011

Entertainment and Recreation * €59,371,161

Food and Tobacco * €367,091,271

Electronics and personal effects €47,517,626

TOTAL €741,585,712

Source ESRI

The total catchment spend is not all relevant to the goods and services offered in Athlone Town Centre. We have set out some of the most relevant categories of spend below:

The Quay

St. Mary’s Church

Athlone Castle


2524

ATHLONE TOWN CENTRE

Athlone Town Centre is a modern shopping centre complet-ed in 2007. The scheme is anchored by Marks & Spencer and includes 176,452 sq. ft. of retail space on two levels over a three storey basement car park with approx. 1,200 car parking spaces. There is an additional 35,288 sq. ft. in external offices and other commercial space adjoining the shopping centre. Total current income from the Centre is €4,848,153 per annum.

The shopping centre is part of a wider mixed use development including the Cityquarter residential scheme and a hotel (which is in separate ownership and does not form part of this sale).

The property for sale includes:

DESCRIPTION

COMMERCIAL

• SHOPPING CENTRE (16,393 SQ M/176,452 SQ FT RETAIL SPACE)

• BASEMENT CAR PARK (1200 SPACES) INCLUDING LOADING & CIRCULATION AREAS

• OTHER COMMERCIAL (3,278 SQ M/35,288 SQ FT)

RESIDENTIAL

• 150 APARTMENTS IN 12 BLOCKS (13,141 SQ M/141,453 SQ FT)

GLEESON STREET SITE

• 0.5 ACRE SITE COMMERCIALLY ZONED WITH FULL PLANNING PERMISSION FOR A STANDALONE 14,832 SQ FT NIA RETAIL UNIT


2726

The retail aspect of the scheme totals 176,452 sq. ft. of floor space over two levels. Anchored by Marks & Spencer, the centre has 56 units excluding mall licences. The majority of the units face onto the internal malls however 7 units are exter-nal facing.

All retail units are finished and fitted apart from two of the external units facing Gleeson Street which are vacant and in shell and core specification. These units are however due to form part of the proposed new TK Maxx store.

The Shopping Centre is bright, spacious and finished to an exceptionally high standard

SHOPPING CENTRE

throughout. The centre is well maintained and provides both tenants and shoppers with a pleasant retail environment.

The Centre has a superb tenant line-up with international branded retailers such as Next, H&M, Zara, River Island and Topshop providing a strong draw, alongside national retailers such as Eason, Oasis, Golden Discs, Pamela Scott and many more.

There is 7% of the retail floor space currently vacant, providing an opportunity to increase the overall rental income from the Centre.


2928

OTHER COMMERCIAL

GLEESON STREET SITE

In addition to the retail element of the scheme there are other commercial aspects to Athlone Town Centre.

There are three basement car parking levels providing approximately 1,200 car spaces, as well as loading, HGV turning and circu-lation and retailer storage units.

There are first and second floor offices at both Gleeson Street and Mardyke Street which are vacant and remain in shell and core condition.

A three storey stand-alone office building located on the northern part of the site provides the main office accommodation. The second floor of the building is occupied by AIB while the ground and first floors are vacant and in shell and core condition.

Finally, there is a separate single storey crèche/office building close to the Civic Centre entrance which is currently vacant and available to let.

Within the overall site there are some long leasehold held premises including a doctors surgery, Cooney’s Pharmacy and Opticians and the hotel, none of which form part of this sale.

The Gleeson Street site provides an addi-tional development opportunity and the chance to increase income and add to the commercial offering within the scheme. The site is zoned Commercial under the Athlone Town Development Plan 2014-2020 and extends to approx. 0.5 acres.

It currently comprises a warehouse and two retail units. Retail Unit 1 is occupied by A Room In Bloom on a 2 year licence at a fee of €12,000 per annum. The warehouse is current-ly occupied by a furniture retailer but notice to quit has been served.

The site has full planning permission (Ref. 11/3049) for a proposed development to include the demolition of all existing structures on the site and the provision of a part-two storey convenience retail unit comprising 1,378 sq. m. net retail sales area and ancillary areas including café, offices, staff areas and storage. The devel-opment will be serviced in respect of goods deliveries through an underground link running from Basement Level 2 of the Shopping Centre under Gleeson Street to a storage area at basement level of the proposed development.


3130

RESIDENTIAL:

The residential element of Athlone Town Centre is known as Cityquarter. It comprises 150 units being a combination of apartments, duplexes and townhouses in twelve separate blocks. The apartments have a 98% occupancy level and gross income receivable of €1,328,700.

Six of the blocks form part of the Town Centre building and are built at 2nd, 3rd and 4th floor levels above the shopping centre. The other six blocks are all separate buildings to the north of the main Town Centre building.

The blocks provide a combination of 1, 2 and 3-bedroom units of varying sizes. All the units are completed to a high standard with fully fitted kitchens and bathrooms, all bedrooms are provided with fitted wardrobes and all master bedrooms are en-suite.

Each apartment has the benefit of a single car-space in the underground car-park.


3332

GLEESON STREET

THE CRESCEN

T

CHU

RCH

STR

EET

TARA HOUSEA9

THE LODGEA8

CIVICCENTRE

ST MARY’SCHURCH

CIVIC PLAZA

GALEY HOUSEA7

THE MEWSA6

DEVELOPMENT SITE

RINDOONHOUSE

A3

PARKGROVEA1

SHOPPINGCENTRE

(GROUND & FIRST FLOOR)


DOES NOT FORM PART OF THIS SALE)

MCCORMACKHOUSEA13

SHANNONVIEWA11

THE WEIRA12

THE GATEHOUSE

A4

THE GLEBEA10

CRECHEA2

MARDYK

E STREET

SHOPPINGCENTRE

ENTRANCE

SHOPPINGCENTRE

ENTRANCE

BASEMENTCARPARKENTRANCE

BASEMENTCARPARKENTRANCE

THE BOULEVARDA5

OFFICES

SITE PLAN

SHOPPING CENTRE

DUPLEX UNIT

TOWNHOUSE UNIT

APARTMENT UNIT

COMMERCIAL UNIT



3534

RIVER ISLANDUNIT 25/26

ELVERYSUNIT 05

AN POSTUNIT 04

UNIT 02(VACANT)

UNIT 01(VACANT)

WAREHOUSEUNIT 06

OASISUNIT 07

COASTUNIT 08

ART & HOBBYUNIT 09

GLO

RIA

JEA

NS

UNIT

59

CARP

HO

NE

WA

REH

OU

SEUN

IT 1

9

GOLDENDISCS

UNIT 20

QUIGLEY’SCAFE

UNIT 64

STARBUCKSUNIT 63

THE BAGELFACTORYUNIT 62

JUMP JUICEUNIT 61

SHOELACE

UNIT 21

LASER & SKINCLINICUNIT 58

NEXT FOR CHILDRENUNIT 57

NEXTUNIT 56

TOMMY HILFIGERUNIT 55

TK MAXXUNIT 23, 50, 54, 68 & 69

THE BAG SHOPUNIT 22

H&MUNIT 16

UNIT 17(VACANT)

BERNARDJOHNUNIT 18

REGATTAUNIT 15

THEPERFUME

SHOPUNIT 67

MCGORISK’SUNIT 53

JD SPORTSUNIT 52

BESTUNIT 24

VODAFONEUNIT 60

PROMODUNIT 27

ZARAUNIT 28/29

CLARKSUNIT 31

NAME ITUNIT 30

PULSEUNIT 13

EUROGIANTUNIT 14

ENTRANCE

ENTRANCE

ENTRANCE

UNIT 11(VACANT)

FIELDSUNIT 10

UNIT 12(VACANT)


DOES NOT FORM PART OF THIS SALE)

MARKS & SPENCERUNIT 51

ZARAUNIT 28/29

BOSTONBARBERKIOSK D

RIVER ISLANDUNIT 25/26

BESTUNIT 24 ELVERYS

UNIT 5(01)

RESTAURANT(VACANT)

OASISUNIT 7(01)

MONSOONUNIT 34/35

TOPSHOPUNIT 36

UNIT 37/38(VACANT)

BOSTONBELLE

UNIT 39/40

MCBRIDEBUTCHERS

UNIT 42

EASONUNIT 43-45

3 MOBILEUNIT 41

H&MUNIT 16(01)

TK MAXXUNIT 23, 50, 54, 68 & 69

EDINBURGHWOOLLEN

MILLUNIT 49 PAMELA

SCOTTUNIT 48

VERO MODAUNIT 32

JACK JONESUNIT 33

FIRST FLOOR

FLOOR PLANS

GROUND FLOOR



3736

PROPERTY 2MACDONAGH JUNCTION

THE LARGEST SHOPPING DESTINATION IN THE SOUTHEASTM

ACD

ON

AG

HJU

NCTI

ON

NET INCOME OF

€1.295 M PER ANNUM

MODERN MIXED USE DEVELOPMENT IN THE HEART OF THE CITY

TOP 10 TENANTS

RANK TENANTS 100% RECEIVABLE

RENT RECEIVABLE

1 TK Maxx €697,000 €317,135

2 Next €252,000 €114,660

3 River Island €240,000 €109,200

4 Champion Sports €200,000 €91,000

5 Fields €200,000 €91,000

6 H&M €145,000 €65,975

7 Carphone Warehouse €125,000 €56,875

8 Claire’s Accessories €90,000 €46,818

9 P&C Hospitality €90,000 €40,950

10 Boots €85,000 €40,950

TOTAL €2,124,000 €974,563

MACDONAGHJUNCTION IS

THE LARGEST SHOPPINGCENTRE IN THE SOUTHEAST

218,137 SQ FT TOTAL SPACE

WAULT6.93 YEARS

FACTS & FIGURES

MODERN SHOPPING CENTRE ANCHORED BY DUNNES STORES WITH RIVER ISLAND, NEXT, H&M AND OTHER TOP BRANDS

DESTINATION SHOPPING FOR CATCHMENT AREA OF

101,728PEOPLE

CORNERSTONE PORTFOLIO PROPERTY 2 - MACDONAGH JUNCTION

4140

MACDONAGH JUNCTION

HIGH STREET

DUBLIN ROAD


MACDONAGH JUNCTION TRAIN STATION

KILKENNY CASTLE

NOWLAN PARK

HEBRON ROADPOTENTIAL DEVELOPMENT SITE(SUBJECT TO DEVELOPMENT

AGREEMENT)

POTENTIAL DEVELOPMENT SITE(SUBJECT TO DEVELOPMENT

AGREEMENT)


4342


4544


4746

D e a n St

He b

r on

Ro

ad

Pa

r l i am

e nt S

t

A b b e y S t

P a r n e l l S t

Hi g

h S

t

O r m o n d e St

J oh

n’s B

r i dg

e

D u b l i n R d

D u b l i n R d

O’ L

o ug

h li n

Rd

H e b r o n R d

Ba

r ra

c k S

t

B r o g u e ma

ke

r’s

Hil

lC

a s t l e c o me r N

e w R d

He b r o n R d

Du

bl i

n R

d

Assumption Pl

RI

VE

R

NO

RE

RI V E R N

OR

E

K i l k e n n yC a s t l e G r o u n d s

C O L L E G EP A R K

KilkennyCastle

MarketCross

ShoppingCentre

St Mary’sCathedral

Nowlan ParkSt Canice’sCathedral

S t . K i e r a n ’sC e m e t e r yR693

R693

N9To

R887

R887

R887

R887 M9To

KILKENNY

KILKENNY

Kilkenny is a city in the south-east region. As a hub location Kilkenny is at the centre of a catchment area of almost 101,728 people.

Kilkenny city has been the site of a settlement continuously for at least 1,500 years. The city is dominated by two historic buildings, Kilkenny Castle to the Southeast and St Canice’s Cathedral to the Northwest, both built on promontories looking east over the River Nore.

Over the past 25 years Kilken-ny city and environs has seen significant development and is recognised as a vibrant and pro-gressive city. Kilkenny is a major population city and also a major tourist destination given its his-tory. There are numerous tourist destinations in the city making it a vibrant tourist location.

The city accommodates many services for the county with Kilkenny County Council, Health Services Executive offic-es, Court services and St. Luke’s general hospital. The city centre also serves the wider hinterland in terms of community facilities, law enforcement, fire services and education.

It has a significant employment base being the headquarter lo-cation for Glanbia, Smithwicks Brewery and numerous other businesses.

Kilkenny’s strong tourism industry is aided with numer-ous hotels including the 4-star Kilkenny River Court Hotel, The Ormonde Hotel, Hiber-nian Hotel, Lyrath Hotel and numerous B&B’s and hostels. There is a variety of sporting, tourism and entertainment facilities including Nowlan Park which is located directly adjacent to the shopping centre. Many craftspeople have made Kilkenny their home which has contributed significantly to the existence of a large number of craft and gift shops.

The city has easy motorway access via the M9 to Dublin and Waterford, as well as compre-hensive intercity rail and bus services.

The Shopping Centre is located in the heart of Kilkenny city, adjacent to Kilkenny train station at the junction of the Hebron and Dublin Roads. The traditional high street is located 700 metres southwest of the property hosting a variety of international, national and local retailers. The Market Cross Shopping Centre is located off the main street.

KILKENNY IS CENTRALLY LOCATED IN THE SOUTHEAST BETWEEN CLONMEL, WATERFORD, WEXFORD & CARLOW.


4948

K i l k e n n yC a r l o w

We x f o r d

L a o i s eK i l d a r e

T i p p e r a r y

N77

N78

N25

N30

N76

N24

N80

M9

M8

M7

KILKENNY

CARRICK-ON-SU IR

CARLOW

NEW ROSS

CLONMEL

25kmDrive Distance

30kmDrive Distance

CATCHMENT AREA

Within its 30km catchment area, MacDonagh Junction captures the entire Kilkenny city area and the surrounding prosperous farm-ing region including towns such as Callan, Thomastown, Ben-nettsbridge, Urlingford, Durrow and Abbeyleix. This is the catch-ment area used for analysis below, however the scale of MacDonagh Junction along with the wider offer of Kilkenny city also attracts shoppers from an even wider area including tourists.

The total population of this catch-ment area was 101,728 persons at the 2011 Census. The age profile of the catchment broadly mirrors the national profile, with 41% of the population under 30 years and 63% under 45 years of age.

The catchment includes 37,673 households with a total purchas-ing power of €1,651.4 million per annum. The purchasing power per capita is €16,233.


• THERE IS A TOTAL OF 37,673 HOUSE-HOLDS IN THE CATCHMENT WITH AN AVERAGE HOUSEHOLD SIZE OF 2.7 PERSONS

• THE AVERAGE PURCHASING POWER IS €16,233 PER CAPITA PER ANNUM

• TOTAL CATCHMENT SPENDING POWER IS €1,651.4 MILLION









TOTAL €475,736,662

Source ESRI

The total catchment spend is not all relevant to the goods and services offered in MacDonagh Junction. We have set out some of the most relevant categories of spend below:


5150

MACDONAGH JUNCTION

MacDonagh Junction is the largest shopping centre in the southeast hosting a large number of international and national retailers.

The shopping centre is a mod-ern high specification bright airy building in the heart of Kilkenny city centre completed in 2007. The scheme is an-chored by Dunnes Stores (held under separate long leasehold interest), the centre includes 218,137 sq. ft of retail and office space in 50 units located over a two level basement car park with 860 spaces. Footfall is approximately 2.64 million visitors per annum.

There are a number of his-torical aspects to the shop-ping centre with the restored workhouse buildings and the renovated railway buildings. The units within the shopping centre are split into core and non-core units which are held in separate ownership. There are 33 units located in the core element and 12 units, 2 kiosks and an ATM in the non-core element of the shopping centre.

The majority of the units face onto the internal mall with a

courtyard building that is used as the foodcourt. The Goods Shed unit comprises 7,223 sq. ft which is currently vacant, the Credit Union, Bowling Alley and Eddie Rocket units are accessed externally.

The core retailers for which 50% interest is held include some of the following Interna-tional retailers; Next, H&M, River Island and TK Maxx pro-viding a strong draw, along with Boots, Tiger, Champion Sports, Pamela Scott and other national retailers. See the tenancy sched-ule for split between core and non core units.

25% of the retail floor space is vacant, providing an opportu-nity to increase the investment yield. There are 4 vacant units within the core retail and 9 va-cant units within the non-core retail. 9 units are in shell and core condition and 4 units were previously occupied and have some level of fit out remaining.

The mezzanine levels were installed by the Landlord.

There are a number of apart-ments located over the retail that are not included in the sale.

The shopping centre is part of a wider mixed use development, a number of the elements are encompassed in the sale including:

DESCRIPTION

• CORE RETAIL (50% INTEREST)• NON-CORE RETAIL (100% INTEREST)• 27,179 SQ FT OF OFFICES (100% INTEREST) • BASEMENT CAR PARK (860 SPACES)

(50% INTEREST)• FUTURE DEVELOPMENT POTENTIAL

(TWO SITES SUBJECT TO DEVELOPMENT AGREEMENT)

OTHER COMMERCIAL

Offices

Hebron House extends to 27,179 sq ft is arranged over 4 floors with access at street level. Two 8 person passenger lifts service the building with ladies, gents and disabled wc’s provided for at each level. The occupiers include the OPW and HSA. 10,507 sq ft is vacant with an opportunity to increase the investment yield upon letting. OPW have exercised their break option and will vacate on 28th March 2015.

Basement Car Park

There are 968 spaces located in the two level basement car park. 108 have been sold with residential units, with 860 for retail use. The car park is operated under a management agreement with Q Park. The car park is 50% owned. The car park is accessed via the centre.


5352

JACK JONESUNIT 29/31

EDDIEROCKET’S

TK MAXXUNIT 2

CHAMPIONSPORTS

UNIT 3/3A

COSTACOFFEE

STARBUCKS1B

BOSTONBARBER BARS

QUIGLEY’SUNIT 2

UNIT 4

CRECHE

CRECHE

FLAIRBEAUTY

STARTER UNIT 5

H&MUNIT 36/4/5

NAME ITUNIT 28

ONLYUNIT 8/8A

MEXXUNIT 6

UNIT 7(VACANT)

FIELD’SUNIT 10

FAS

VACANT

UNIT 19(VACANT)

1C(VACANT)

VACANT

EXTERNAL

VACANT

3 MOBILE

UNIT 33

BOOTSUNIT 1

CARRAIGDONN

UNIT 1/39/11

A WEARUNIT 12

RIVERISLANDUNIT 13

YOUTHCENTRE

INTERNALCOURTYARD

POTENTIALDEVELOPMENT SITE

SUBJECT TO DEVELOPMENT AGREEMENT

(HELD IN SEPERATE OWNERSHIP)

POTENTIALDEVELOPMENT SITE

SUBJECT TO DEVELOPMENT AGREEMENT

NEXTUNIT 15/16/17

HOLLAND

& BARR

ETT

UNIT 20

CLAIR

E’S

UNIT 32

PETE

R M

ARK

UNIT 14

CARPHONE

WAREH

OUSE

UNIT 21

ST.CANICE’SCREDIT UNION

PEDESTRIANENTRANCE

CARPARKACCESS

TRAIN STATION

CARPARKACCESS

FRUTAS

BOSTONBARBER

1A

SWEETFACTORY/HB

SOFTPLAY

SKY

PEDESTRIA

N

ENTRA

NCE

GOVERNMENT OFFICES

CAST

LECO

MER

NEW

ROAD

DUBLIN ROAD

HEBRON RD

STARTERUNIT 9

STARTERUNIT 6

(VACANT)

STARTERUNIT 7

(VACANT)

THECOURTYARD

STARTER UNIT 8BAGEL

FACTORY

GOODS SHEDMARKET

UNIT 22/23/24/25/26

PEDESTRIANENTRANCE

EASONUNIT 18 DUNNES STORES

(HELD IN SEPERATE OWNERSHIP)


FLOOR PLAN

CORE

NON-CORE

OFFICE


5554

PROPERTY 3GOREY SHOPPING CENTRE

ANCHORED BY THE LARGEST DUNNES IN THE SOUTHEASTG

OREY

GOREY SHOPPING CENTRE

RAILWAY STATION

WFC RETAIL PARK

GOREY CIVIC CENTRE


GOREY TOWN CENTRE

TESCO


CORNERSTONE PORTFOLIO PROPERTY 3 - GOREY SHOPPING CENTRE

5958

RETAIL INCOME: €879,345 PA WITH SCOPE TO INCREASE THROUGH LETTING OF VACANT UNITS

MODERN RETAIL SCHEME IN THE HEART OF GOREY TOWN

35,784 SQ FT OF SPACE IN 24 UNITS

WAULT: 13.34 YEARS

TOP 10 TENANTS

RANK TENANTS RENT

1 Hickeys Pharmacy €325,000

2 Furlong Family Butchers €67,344

3 Paul Byron Shoes €65,700

4 Elvery Sports €60,000

5 Carphone Warehouse €53,580

6 Game Stop €43,000

7 Lipstick €40,000

8 Bella Moda €36,000

9 Rynhart Hair €35,320

10 Whitmore Jewellers €33,954

TOTAL €759,898

ANCHORED BY THE LARGEST DUNNES IN THE SOUTHEAST EXTENDING TOOVER 8,302 SQ M (89,363 SQ FT)

FACTS & FIGURES POPULATION

OF GOREY INCREASED

BETWEEN 2002 AND 2011.

GOREY IS IDEALLY LOCATED BETWEEN DUBLIN AND WEXFORD

73%

BUSTLING MARKET TOWN WITH A POPULATION OF APPROX.

10,000


6160


6362

T h e A v e n u e

A v e n u e C T

We

xf o

r d S

t

R a i l w a y RD

Th

e

Si

di

ng

s

T h e G a l l o p sT h e G a l l o p s

T h e C h a s e

Th

e

H

e a l t h

T h e C h a s e

Th

e

He

al

th

M e a d o w G a t e

Me

ad

ow

Ga

t e

Me

ad

ow

G

at

e

St

Mi

ch

ae

l ’s

R

d

G o r e y R a i l w a yS t a t i o n

R741

Te s c o

G o r e yC i v i c

C e n t r e

W F CR e t a i l P a r k

GOREY

Gorey is a thriving market town and the principal town in north County Wexford. The town has a population of 9,114 persons (2011 Census) an increase of 25% on the 2006 Census. In recent years the town has de-veloped as a popular commuter location with improvements in transport links via the M11/N11 to Dublin.

The town serves an extensive surrounding hinterland and acts as a gateway to the popular southeast coastal resorts of Courtown, Ballymoney and Ballygarrett. Due to its strategic location the town is an attrac-tion for tourists and benefits from a major increase in visitors in the summer months.

Gorey has a strong retail base with all the major supermar-

kets having a presence in the town. The town is served by two hotels, both with leisure centres, swimming pools, and conference facilities.

Other facilities in Gorey include two secondary schools, a number of primary schools, a cinema, and several restaurants, bars and nightclubs.

The town is easily accessible by public transport having Gorey Railway Station with a regular service to Dublin and Rosslare on the Europort line. The town also benefits from various daily bus services between Dublin city, Dublin Airport, Wexford and Rosslare Harbour.

THE PRINCIPAL TOWN IN NORTH COUNTY WEXFORD

GOREY


6564

C a r l o w

W i c k l o w

We x f o r d

N30

N80

N80

N81

E01

E01

M11

M9

ENNISCORTHY

30kmDrive Distance

BespokeCatchment

20kmDrive Distance

ARKLOW

TULLOW

GOREY

CATCHMENT AREA

The catchment area for Gorey Shopping Centre principal-ly falls within a 30km drive distance however its primary catchment extends west to include towns such as Aughrim, Tinahely, and Bunclody. The large Dunnes Stores anchor offer is a draw for a wide area.

The total population of this bespoke catchment area was 81,899 persons at the 2011 Census. 43% of the catchment population is aged 29 or lower. The catchment includes 30,819 households with a total purchas-ing power of €1,314 million per annum. It is estimated that €50.5 million of this is spent on clothing and apparel.


• THERE IS A TOTAL OF 30,819 HOUSEHOLDS IN THE CATCHMENT WITH AN AVERAGE HOUSEHOLD SIZE OF 2.66 PERSONS, JUST UNDER THE NATIONAL AVERAGE

• THERE IS AN AVERAGE PURCHASING POWER OF €16,044 PER CAPITA PER ANNUM WITHIN THE CATCHMENT, A TOTAL SPENDING POWER OF €1,314 MILLION PER ANNUM









TOTAL €384,094,620

Source ESRI

The total catchment spend is not all relevant to the goods and services offered in Gorey Shopping Centre. We have set out some of the most relevant categories of spend below:


6766


Gorey Shopping Centre is a modern shopping centre which opened for trading in 2007. The scheme is anchored by Dunnes Stores (held long leasehold) and includes 35,784 sq.ft. of space in 23 retail units at ground and first floor level, 1 basement level retail unit and a total of 400 car park spaces at basement and surface levels.

The Shopping Centre forms a central part of Gorey’s com-mercial activity being bounded by both the Civic Centre and WFC Retail Park.

The ground floor level comprises of 21 retail units, the majority of which face onto the Dunnes anchor unit on the main mall.

The basement level comprises one unit along with the man-agement/security office and access to the underground car park with approximately 165 car spaces.

The first floor has direct pedes-trian access through to Gorey Civic Centre. It comprises three units, two of which are inter-connected and still in shell and core specification.

Externally there are approximate-ly 235 surface car spaces and a main service yard is located to the rear of the centre at the northern end.

The centre is anchored by the largest Dunnes Stores in the

southeast, and joined by other high profile retail brands such as Elvery’s, GameStop, E-Mobile, Carphone Warehouse, Click, and The Bagel Bar.

The weighted average remaining secure income period is 13.34 years. Approximately 72% of leases have more than 10 years to run until expiry.

DESCRIPTION


6968

FLOORPLAN

ENTRANCESERVICEACCESS

RYNHEART HAIRUNIT 2

PAUL BYRONSHOESUNIT 3

UNIT 4(VACANT)

FRANSKEY

CUTTINGUNIT 7

MALL

SERV

ICE

CO

RRID

OO

RE-MOBILE

UNIT 5

LIPSTICKUNIT 6

ELVERYS SPORTSUNIT 10

UNIT 12(VACANT)

FURLONGSFAMILY BUTCHERS

UNIT 14

UNIT 17(VACANT)

HICKEYS PHARMACYUNIT 18

CARPHONEWAREHOUSE

UNIT 19

DUNNES STORES(LONG LEASEHOLD)

CAR PARK

R741

BELLA MODAUNIT 8

AROMA CAFEUNIT 1

UNIT 11(VACANT)

WHITMOREJEWELLERS

UNIT 9

GAME STOPUNIT 13

CLICKUNIT 16

UNIT 17A(VACANT)

BAGEL BARUNIT 15

FUN TECHUNIT 20

BASEMENTCAR PARK

ACCESS



7170

PROPERTY 4WESTSIDE SHOPPING CENTRE

BUSY LOCALCENTRE ANCHORED BY DUNNES & MCDONALDSW

ESTS

IDE

LOCAL CATCHMENTAREA OF

54,976PEOPLE

FACTS & FIGURES

TOTAL INCOME

€784,612 PA0% VACANCY IN THE CENTRE

25,089 SQ FT RETAIL SPACE IN 14 UNITS

TOP TENANTS

RANK TENANTS RENT

1 McSharry’s Pharmacy €178,000

2 McDonalds €116,450

3 Divillys €77,138

4 Peter Murphy Electrical €75,228

5 Evergreen €55,000

TOTAL €476,198

WAULT: 15.3 YEARS

GALWAY IS THE CAPITAL OF THE WEST, A THRIVING BUSINESS AND TOURIST CITY

CORNERSTONE PORTFOLIO PROPERTY 4 - WESTSIDE SHOPPING CENTRE

7574

RESIDENTIALAREA


WESTSIDE SHOPPING CENTRE

LOCAL SPORTSGROUNDS

LOCAL RETAIL


7776

S H A N T A L L A

N E W C A S T L E

We s t s i d eP l a y i n g F i e l d s

Ci

rc

ul

ar

R

d

Le

tt

er

ag

h

Rd

Ca

rn

A

rd

C l a r e m o n t Pa r k

C o r r a c h B u i

Ga

l ca

r ra

i g P

ar k

Inis

ha

n na g P

a r k

H y - B r a s i l C TL a

ure

l

P a r k

C o r r i b P a r k

C a m i l l a u n P a r k

G l e a n n D a r a

O a k l e y C r e s

S h a n t a l l a R d

Old

Se

am

ou

s Q

ui r

ke

Rd A s h e R d

D a v i s R d

Co

lmc

ille

Rd

Bó

tha

r F

hu

rsa

Bó

tha

r M

hic

Da

r a

B ó t h a r P h á d h r a i c U i C h o n n a i r e

C h a n t a l l a R d

C o s t e l l o R a o d

Ne

wc

as

tle

Pa

rk

S n i p e A v e

Ar d

i l au

n R

d

Di s t i l l e r y R d

Ro

ck

fie

l d P

ark

Th

om

as

H

yn

es

R

d

Bó

th

ar

L

e

Ch

ei

le

Se

am

us Q

ui r

ke

R

d

C o r ri b

Pa r k

C o r r i b P a r k

J o h n Co

og

an

Pa

rk

I n i s h a n n a

g P

ar k

Sacred HeartChurch

UniversityCollege Hospital

National Universityof Ireland

R338

R338

R338

N59

N6

R864

R864

GALWAY

Galway is the fourth largest city in Ireland with a population of 95,000 and is one of the most vibrant places to live with an active cultural and commercial scene. It is the main city for the West/Northwest of Ireland and is only a 2.5 hour drive west of Dublin city via the M6 Motorway.

Galway has a developed com-mercial infrastructure with a dedicated CBD which provides an established retail and office core while the outskirts of the city has established business parks and industrial estates. Companies located in Galway include Medtronic and Boston Scientific.

Westside Shopping Centre is on the R338 Road immediate-ly adjacent to the N59 which is one of the busiest arterial routes to Galway city and a major tourist route during the

summer months. The Centre is approximately five minutes drive from the city and is in a predominantly residential area with other local shopping and amenity uses.

Access to the Centre is very convenient from the R338 and the surrounding residential road network also feeds into the local area. The overall area of Galway has become more accessible due to an enhancement of the road network in recent years and the drive time between Dublin and Galway is now just under 2.5 hours on full motorway roads.

GALWAY IS THE MAIN CITY IN THE WEST OF IRELAND, WITH A VIBRANT CULTURAL AND COMMERCIAL SCENE

GALWAY


7978


Westside is a busy local shopping centre anchored by Dunnes Stores and with a total of 14 units together with a McDonald’s Drive Thru and a Maxol Petrol Filling Station. A number of units are in private own-ership under long leasehold interests. The total floor area of the centre being sold is 2,330.85 sq.m (25,089 sq.ft).

The centre was developed c. 1980 and is a single level retail building with large surface car park to the front which can accommodate 283 cars. The units are arranged in a parade with Dunnes Stores acting as the main eastern bookend and anchor to the scheme. There is a part of the first floor which is in separate ownership. Other tenants include Boyle Sports and there are also licences for roff antennae.

There is a public house (not part of the sale) at the western side of the centre which leads to the rear access for the service yard.

Total income from the centre is €784,612 per annum and is based on the invoiced amount to the tenants.

DESCRIPTION

CATCHMENT AREAWithin a 15 km drive distance of Westside Shopping Centre lies the majority of Galway city and environs with a total population of just under 95,000 (2011 Census). However this centre predominantly serves the west side of the city and its catchment extends further west into the Connemara area where there is no equivalent offer for some distance. The bespoke catchment area on the plan shows the predominant market for this scheme.

Within this bespoke catchment lie the immediate areas of West-side, Shantalla, Rahoon, Newcastle, Claddagh and Salthill, and Connemara towns such as Oughterard, Inverin, Spiddal and Barna. University College Hospital and the University College Galway are both close by.

The total population of this catchment area was 54,976 persons at the 2011 Census. The age profile of the catchment is younger than the national profile, with 45% of the population under 30 years and 69% under 45 years of age (compared to national figures of 42% and 66% respectively).

The catchment includes 19,794 households with a total purchasing power of €1,128.4 million per annum. The purchasing power per capita is €20,525 which is 13% above the national index.

N17

N63

N59

N18

N84

M6

15kmDr ive T ime

20kmDr ive T ime

BespokeDr i ve T ime

GALWAY


• THERE IS A TOTAL OF 19,794 HOUSEHOLDS IN THE CATCHMENT WITH AN AVERAGE HOUSEHOLD SIZE OF 2.78 PERSONS

• THE AVERAGE PURCHASING POWER IS €20,525 PER CAPITA PER ANNUM 13% ABOVE THE NATIONAL AVERAGE

• TOTAL CATCHMENT SPENDING POWER IS €1,128.4 MILLION


CATEGORY OF SPENDANNUAL

SPEND WITHIN CATCHMENT







TOTAL €281,604,290

Source ESRI

The total catchment spend is not all relevant to the goods and services offered in Westside Shopping Centre. We have set out some of the most relevant categories of spend below:


8180

FLOOR PLAN

BO

THA

IR LE C

ÉILE

SEAMUS QUIRKE ROAD

MCDONALD’SUNIT 16

PETER MURPHYUNIT 1

PUBLICHOUSEUNIT 15

PETERMURPHY

UNIT 2

PETERMURPHY

UNIT 3OPWUNIT 4

SWA

NPA

RK

UN

IT 6

EVER

GREE

NU

NIT

7 CREDITUNIONUNIT 8

MARTINDIVILLYUNIT 9

MARTINDIVILLYUNIT 10

MICHAELO'HEHIRUNIT 11

NEW

SWEE

KU

NIT

12 ADRIAN

&PATRICIAFLYNNUNIT 13

MCLOUGHLIN’S PHARMACYUNIT 17

BOYLESPORTSUNIT 18

WES

TSID

E LA

UN

DER

ETTE

UN

IT 5

MAXOL

283 SURFACE CAR PARKING SPACES

CAR PARKENTRANCE

DUNNES STORESUNIT 14

NOT PART OF THE SCHEME(Held under long lease)

NOT PART OF THE SCHEME(Held under long lease)



8382

PROPERTY 5TIPP TOWN SHOPPING CENTRE

DOMINANT IN ITS LOCAL CATCHMENT AREA

TIPP T

OW

N

BUSY CENTRE ANCHORED BY DUNNES STORES WITH 299 SURFACE CAR PARKING SPACES

TOTAL NET INCOME €162,110 PA

18,572 SQ FT OF RETAIL SPACE IN 9 UNITS

WAULT: 14.4 YEARS

LOCAL CATCHMENT AREA OF

PEOPLE

15,177

FACTS & FIGURES

TIPP TOWN SHOPPING CENTRE PROVIDES A STRONG LOCAL OFFERING

LOCATED ON THE N24 BETWEEN LIMERICK CITY AND WATERFORD CITY

CORNERSTONE PORTFOLIO PROPERTY 5 - TIPP TOWN SHOPPING CENTRE

8786

TIPPERARY RETAIL PARK

TESCO

N24 TO WATERFORD TIPPERARY TOWN


TIPP TOWNSHOPPING CENTRE

DEVELOPMENT SITE

N24 TO LIMERICK


8988

TIPPERARY

CATCHMENT AREA

The catchment area of Tipp Town Centre falls within a 15km drive time due to the rural location of the town. The total population of the catch-ment area was 15,177 persons at the 2011 Census. The catch-ment include 5,952 households with a total purchasing power of €247.84 million per annum. The purchasing power per capita is €16,329 with €23.46 million being spent on food and non-alcoholic beverages.

The catchment area has the following characteristics. (Source ESRI):

• THERE IS A TOTAL OF 5,952 HOUSEHOLDS WITH AN AVERAGE HOUSEHOLD SIZE OF 2.55 PERSONS WHICH IS JUST BELOW THE NATIONAL AVERAGE

• TOTAL CATCHMENT SPENDING POWER IS €247.84 MILLION

• THERE IS AN AVERAGE PURCHASING POWER OF €16,329 PER CAPITA PER ANNUM WITHIN THE CATCHMENT AREA








TOTAL €72,554,470

The total catchment spend is not all relevant to the goods and services offered in Tipp Town Centre. We have set out some of the most relevant categories of spend below:

L i m e r i c k

T i p p e r a r y

C o r k

N24

N74

N62

N24

M7

M8

15kmDrive Distance

25kmDrive Distance

TIPPERARY

CASHEL

THURLES


Source ESRI

TIPPERARY TOWN

Tipperary Town is located in the southern part of County Tipper-ary. The population of the county was 158,754 in the 2011 census, with Tipperary Town’s population being 5,310 in 2011, an increase from 5,065 on 2006. There is a population of 15,177 with 10 minutes’ drive.

Tipperary Town is on the N24 road which is the main route from Limerick city to Waterford city. Limerick city is a 40 minute drive away while the neighbour-ing towns of Cashel and Cahir are both 20 minutes respectively. The M8 is 20 minutes’ drive from the town providing access to Dublin within two hours. The town is also served by the Waterford to Limerick train line located in the south of the town.

Tipperary is a rich farming county and part of the Gold-en Vale, with some of the best agricultural land in Ireland. It has a strong dairy industry along with other food manufacturing, a strong tradition of thoroughbred horse breeding and a growing pharmaceutical industry. Tourism and sport are also strong in the county. Tipperary town is a pre-dominantly residential area served by four primary and secondary schools and local businesses. Tipp Town Shopping Centre’s main competition in the town is a standalone Tesco Superstore also located on the N24 and Lidl located just off the main street.

TIPPERARY TOWN IS A PREDOMINANTLY RESIDENTIAL AREA SERVED BY FOUR PRIMARY AND SECONDARY SCHOOLS AND LOCAL BUSINESSES.

Da

vi t t S t

Ma

in S t

Ol d

M

on

as t e r y R d

T ip

p e r ar y R d S t M i c h a e l ’s R d

R o s a n n a R d

Link

Rd

RI

VE

R

AR

A

R IV

E

R

AR

A

G a l b a l l y R

d

J am

es

St

Bl i n

d S

t

St a

t i on

Rd

A b b e y S t

Churchwell

Can

on H

ayes

Par

k

Mu

rg

as

ty

R

d

O’C

on

ne

l R

d

E m m e t S t

D i l l o n S t

M i t ch e l l S t

Saint Mary’sChurch ofIreland

R497

R497

R661

R661

R664

R662

R515

R515

N24

N24

N24

N24

T I P P E R A R Y


9190

Tipp Town Shopping Centre is on the western side of Tipperary Town on the N24 between Lim-erick City and Waterford City. Tipp Town Shopping Centre is a busy local centre that serves the long established community in the town. The only direct com-petition to the shopping centre in the town is a Lidl store in the town centre.

The anchor unit is a 5,713 sq.m (61,501 sq.ft) Dunnes Stores which is held long leasehold and does not form part of the sale. The centre’s shops include a busy pharmacy, hair salon, restaurant and discount store. This com-bination of shops and services draws a steady stream of custom-ers from the whole of Tipperary town as well as passing commut-ers on the N24 Limerick Road.

TIPP TOWN SHOPPING CENTRE

DESCRIPTION

The format of the centre is a single strip development with all external facing units, except units 5a and 7a. The centre is surrounded by a large car park with approximately 299 car parking spaces.

To the front of Tipp Town Centre there is a separate site of approximately 0.165 Hectares (0.409 Acres) that adjoins a garden centre. The total rent payable is €209,878 pa. There is an opportunity to increase this income through increasing the occupancy as the centre is currently 22% vacant.


9392

FLOOR PLAN

DUNNES STORESUNIT 8

(NOT PART OF THE SALE)

EN PARISFASHION

UNIT 1

GEORGELANGHAIR

GROUPUNIT 1A

TIPP T

OW

NPH

ARM

ACY

UN

IT 2

€2 E

URO

UN

IT 4

CAR PARK

BOHERCROWROUNDABOUT

N24

N24

CAR PARK

UNIT 3VACANT

UNIT 7VACANT

CA

RP

HO

NE

WA

REH

OU

SEU

NIT

5A

THECARVERY

RESTAURANTUNIT 5

JOHNDUGGANBUTCHERS

UNIT 6

ENTRANCE

ENTRANCE



9594

PROPERTY 6ORWELL SHOPPING CENTRE

BUSTLING LOCAL NEIGHBOURHOOD SHOPPING CENTRE IN A WELLESTABLISHED AREAO

RW

ELL

NEXT TO LARGE SCHOOL AND CHURCH, THIS CENTRE HAS 0% VACANCY AND WAULT OF APPROXIMATELY 12.7 YEARS

TOTAL INCOME €547,300 PAOF WHICH 59% COMES FROM THE SUPERVALU OPERATOR

23,852 SQ. FT. RETAIL AND ANCILLARY SPACE IN 10 UNITS

LOCAL CATCHMENT AREA OF

PEOPLE IN AFFLUENT MATURE ESTATES

12,478

FACTS & FIGURES

STRONG LOCAL CONVENIENCE OFFER TO THE WELL-ESTABLISHED AREA OF TEMPLEOGUE

BUSY CENTRE ANCHORED BY SUPERVALU WITH APPROXIMATELY 95 SURFACE CAR SPACES

ORWELLSHOPPING

CENTRE

RANK UNIT TENANTS RENT

1 1, 5, 7 & 8 D Horkan Ltd (Supervalu, Newsagent and Salon) €321,000

2 6 Maxwell Pharmacy €35,000

3 3 Brady’s Butchers €35,000

4 4 Sunflower Chinese €35,000

5 2 John’s Second to None €35,000

TOTAL €461,000

TOP 5 TENANTS

CORNERSTONE PORTFOLIO PROPERTY 6 - ORWELL SHOPPING CENTRE

9998

ORWELL SHOPPING CENTRE

ST. JUDES CHURCH

BISHOP SHANAHAN NATIONAL SCHOOL



101100

CATCHMENT AREA

N81

TEMPLEOGUE ROAD

BUTTE R F I E LD AVE NUE

BA

L LYROAN RO AD

CY

PR

ES

S G

RO

VE

RO

AD

T EMPLEV I L LE ROAD

TEMPLEV I L L E ROAD

GREEN

TREES RO

AD

WA

INSF

O

RT RO

AD

M50

0.75kmDrive Distance

1.75kmDrive Distance

M a n o rE s t a t e

C y p r e s sD o w n s

Te m p l e o g u e

D o d d e rVa l l e y P a r k

Ty m o nP a r k

Te m p l e o g u eV i l l a g e

ORWELL

The catchment area for Orwell Shopping Centre principally falls within a relatively local 1.75km drive distance. This includes the immediately surrounding housing estates and extends to Greentrees Road, Walkinstown and into the Cypress Grove area of Templeogue.

The total population of this catchment area was 12,478 persons at the 2011 Census. The average age of the catchment is older than the national average, reflecting the mature nature of the area, with 47% of the pop-ulation aged 45 years and older, compared to a national figure of 34%. This age structure suits the convenience and grocery offer of the centre.

The catchment includes 4,282 households with a total purchas-ing power of €285.96 million per annum. The purchasing power per capita is €22,917, which is 26% higher than the national average.


• THERE IS A TOTAL OF 4,282 HOUSEHOLDS IN THE CATCHMENT WITH AN AVERAGE HOUSEHOLD SIZE OF 2.91 PERSONS

• THIS IS A MATURE AND WEALTHY CATCHMENT, WITH AN AVERAGE PURCHASING POWER OF €22,917 PER CAPITA PER ANNUM, 26% HIGHER THAN THE NATIONAL AVERAGE

• TOTAL CATCHMENT SPENDING POWER IS €285.96 MILLION









TOTAL €37,555,092

Source ESRI

The total catchment spend is not all relevant to the goods and services offered in Orwell Shopping Centre. We have set out some of the most relevant categories of spend below:

TEMPLEOGUE, DUBLIN 6

Templeogue is a large well-estab-lished suburb of south Dublin. Located approximately 8 km southwest of the city centre and approximately 6km from Tallaght, the area includes a cluster of large housing estates without any major shopping centre. While both Rathfarnham Shopping Centre and the Square in Tallaght are within 20 minutes’ drive, there is no other local shopping centre for convenience and everyday shopping within the catchment. Orwell Shopping Centre serves this purpose for a large number of surround-ing estates with car-borne and walking customers using the centre for daily needs. The use mix and 100% occupancy shows

the excellent match of Orwell Shopping Centre to the needs of its catchment.

The surrounding residential estates are predominantly made up of affluent semi-detached and detached housing. The area is well served with bus routes and is less than 5 minutes from the M50 motorway.

The micro location has the benefit of a large primary and secondary school immediately adjacent. This school, along with a large parish church adjoining the centre, provide a further readymade daily surge of business, in addition to the large residential base.

ORWELL SHOPPING CENTRE HAS 100% TENANT OCCUPANCY AND IT’S THE ONLY LOCAL SHOPPING CENTRE WITHIN THE CATCHMENT

L i me k i l n

D rL i me

k i l n P

ar k

Mo

un

t do

wn

P ar k

L i me k i l n

Av

e

Gl e

nd

ow

n G

r ov e

G l e n d o w n A v eO r w e l l P a r k G l e nOrwel l Park Ave

Orwell Park Way

Orw

ell

Park

Dr

Gl e

nd

wo

n C

tG

l en

dw

on

Pa

r k

Wil l ington Green

Wil l ington Grove

Wil l ington Ave

Wil

l ing

ton

Cre

s

Osp

rey

Dr

Rush

broo

k D

r

Rush

broo

k A

ve

Rush

broo

k Pa

rkRu

shbr

ook

Gro

veRu

shbr

ook

Way

Wil

l ing

ton

Dr

Osprey LawnOsprey AveOsprey Park

Kennington Rd

Kennington Cl

Kennington Cres

Orwell Park Rise

Or w

e ll

P ar k

Hig

ht s

Ro

s sm

or e

Dr

R o s s m o r e C r e s

Te m p l e o g u e Wo o d

Te m p l e o g u e Wo o d

The

Av e

nu

e

D o m v i l l e D r

T h e Wa l k

T h e C l

C y p r e s s D r

T h e C l

G l e n d o w n L a w n

Wainsfort Ave

Wai

nsfo

rt Cr

es

C o l l e

g e Pa

r k

Co

l le

ge

Cr e

s

C y p r e s s P a r kA

s hf

i el d

Ty m o n P a r k

B U T T E R F I E L DRI

VE

R

DO

DD

ER

Wel

l ingt

on L

n

C Y P R E S SD O W N

T E M P L E O G U E

M A N O R E S T A T E

St JudesChurch

St MarysCollege

RFC

AshfieldCollege

TempleogueCollege

Bishop ShanahanNational School

OrwellPark Lawns

Sapwell Golf andLeisure Centre

R112

R112

R817

R817

R817

R114

R137M50

R137

ORWELLSHOPPING

CENTRE


103102


Orwell Shopping Centre is a busy local shopping hub and serves a very large network of well-established residential estates. Located in Templeogue, this centre is surrounded by large housing estates such as Wellington, Templeogue Wood, Glendown, Cypress Downs, Willington, Orwell and others and has no similar competition within it’s catchment.

The anchor unit is a 14,500 sq.ft Supervalu store including storage and ancillary offices (some of which are sublet). Supporting shops include a busy newsagent, craft butcher, pharmacy, takeaway restaurant, hardware, florist/ grocer, hairdresser and doctor’s surgery. This combination of shops and services draws a steady stream of customers from both the surrounding residential area and the adjacent major school and church.

The format of the centre is a strip development with all external facing units. The majority of units front the main Orwell Road with 2 facing Orwell Park Heights. The centre is surrounded by a large car park with approximately 95 free surface parking spaces.

The success of this parade is evidenced by its 0% vacancy rate. The overall WAULT of the centre is approximately 12.7 years.

In addition to being fully let, there is existing planning permission (Ref: SD09A/0046/EP) to extend the scheme to increase the retail space at ground floor level and also provide additional office space at first floor level. The total allowable area as part of the redevelopment is approximately 38,206 sq.ft and the planning is valid until 8th March 2020.

ORWELL SHOPPING CENTRE HAS 100% TENANT OCCUPANCY AND IT’S THE ONLY LOCAL SHOPPING CENTRE WITHIN THE CATCHMENT

Development Potential:


105104

FLOOR PLAN

ORWELL PARK HEIGHTS

ORW

ELL RO

AD

SUPERVALUANCHOR STORE

MAXWELL’SPHARMACY

UNIT 6

THE

PAIN

T PO

TU

NIT

7

ORW

ELL

SURG

ERY

UN

IT 1

1

SUNFLOWERTAKE AWAY

UNIT 4

BRADY’SBUTCHERS

UNIT 3

SECOND TO NONEFRUIT & VEG

UNIT 2

ORWELL NEWSNEWSAGENT

UNIT 1

CAR PARK

CAR PARK

CAR PARK

YARD

YARD

YARD

YARD

SHEAR SUCCESSHAIRDRESSERS

UNIT 5



107106

FURTHER INFORMATION

CONTACT SOLICITORS

Additional information including detailed tenancy schedules, floor plans, financial information, technical information and title information is available in the dedicated dataroom.

To request access please go to the dedicated website

WWW.CORNERSTONEPORTFOLIO.COM

For information on the process and sale of the portfolio please contact:

Athlone Town Centre

ATHLONE TOWN CENTRE


MACDONAGH JUNCTION

TIPP TOWN SHOPPING CENTRE



All Properties excluding Athlone Town Centre

For specific queries on individual centres please contact:

Jones Lang LaSalle Ltd10/11 Molesworth Street, Dublin 2PRSA No. 002273www.jll.ie

Margaret Fleming

International Director+353 (0) 1 673 1655margaret.fleming@eu.jll.com

Laura Torpey

Surveyor+353 (0) 1 673 0712laura.torpey@eu.jll.com

Jeffrey Hoare

Surveyor+353 (0) 1 673 1696jeffrey.hoare@eu.jll.com

Brian Shields

Senior Surveyor+353 (0) 1 673 1678brian.shields@eu.jll.com

Ronan McLoughlin

Matheson 70 Sir John Rogerson’s QuayDublin 2+353 (0) 1 232 2374ronan.mcloughlin@matheson.com

BER Details available on dataroom

Declan Sexton

Surveyor+353 (0) 1 673 1627declan.sexton@eu.jll.com

Sean Greene

EvershedsOne Earlsfort CentreEarlsfort Terrace, Dublin 2+353 (0) 1 664 4278seangreene@eversheds.ie

Brian Shields

Senior Surveyor+353 (0) 1 673 1678brian.shields@eu.jll.com

John Moran

Managing Director+353 (0) 1 673 1637john.moran@eu.jll.com

Declan Sexton

Surveyor+353 (0) 1 673 1627declan.sexton@eu.jll.com

Max Reilly

Director+353 (0) 1 673 1658max.reilly@eu.jll.com

DISCLAIMER

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.

CORNERSTONE PORTFOLIO

108

CONTENTS Reduced_3639337.pdf5.1% 2.3% Year-on-year % change 0 2008 2010 VALUE VOLUME Q1 97 Q1 98 Q1 99 Q1 00 Q1 01 Q1 02 Q1 03 Q1 04 Q1 05 Q1 06 Q1 07 Q1 08 Q1 09 Q1 10 Q1 11 Q1 12

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