Lot

1

Assets Available

70 individual assets with a total gross external floor area of approx. 70,000 sq. m. Total occupied space of 53,696 sq. m

Potential to increase rental income from vacant properties

Tenants include DSV Solutions, Domino’s Pizza, Kelleher Electric, Lidl Ireland, NCT Centre amongst others

Includes approx. 10.53 hectares (26 acres) of forestry situated on the western boundary of Tougher Business Park. The land is predominantly laid out in ash and has the benefit of access from the main estate road

Extensive land bank comprising approx. 11.2 ha (27.26 acres) of industrial zoned land, approx. 24.06 ha (59.45 acres) of unzoned land and approx. 10.53 ha (26 acres) of forestry.

The sale includes all estate roads and common areas within Tougher Business Park. Site boundaries are indicative and for information purposes only. Certain properties excluded (refer to Lot 3 for exclusions).

Income Summary

Tougher Business Park currently produces an overall gross income of approximately €1.8 million per annum. The income stream can be analysed as follows:

Occupier Property Lease Commencement Size (Sq.m) Income per annum (€) Percentage Total
DSV Solutions T4 2015 18,061

€565,322

31.21%

DSV Solutions T7 01/07/04 11,332 €348,444 19.23%
DSV Solutions T6 2015 4,795 €209,550 11.56%
MDS Distribution Q1 11/04/14 1,947 €75,000 4.14%
NCT Centre B2 01/01/00 595 €67,429 3.72%
JZ Flowers M10 15/06/08 2,005 €67,200 3.71%
Dominos Pizza 1E 29/12/14 540 €58,000 3.20%
Lidl Ireland G1 01/06/14 3,625 €45,000 2.48%
Other 27,100
€375,693
20.73%
Total Income
€1,811,638

Overall Commercial Analysis

Term Certain Years Total Rent per Annum Percentage Total
0-3 €1,116,266 61.61
3-5 €695,372 38.4
Total €1,811,638 100%

Rent Breakdown

Breakdown of Rent by Tenant

    Assumptions

    Please note that this tenancy schedule is for indicative purposes only and all potential purchasers should satisfy themselves in relation to the accuracy of the above information;

    Potential purchasers should satisfy themselves in relation to the contracted rent stated and should reference the full suite of lease documentation provided in the dataroom.

    • VIEW RENTAL & ACCOMMODATION SCHEDULE

      Aerial Reference No. Unit No Occupier Area (sq foot) Floor Area(sq. m) Annual Rent Lease Start Lease End Break Option Status
      1 A1 Tommy Tougher 16,329 1,517 Lease at €31,000 p.a. to be formalised
      1 A2 Vacant 3,079 286
      1 A3 Kelleher Electric 2,852 265 €27,934 1 May 02 30 April 23
      1 A4 A/C/C Vacant 4,984 463
      1 A5 Vacant 2,540 236
      1 A6 Vacant 2,594 241
      1 A7 Seneca Group 1,959 182 €28,000 1 February 08 31 October 12 Tenant Overholding. Lease Renewal at €28,000 p.a. to be formalised
      1 A8 Vacant 883 82
      1 A9 HSE 2,500 232 €11,828 1 September 11 31 August 12 Tenant Overholding. Lease Renewal at €24,000 p.a. to be formalised
      1 A10 Vacant 1,775 165
      2 B Vacant 2,067 192
      3 B1 Vacant 7,535 700
      4 B2 NCT Centre 6,351 590 €67,429 4 January 00 3 January 30 2020
      5 C1 HSE 4,779 444 €7,075 1 May 06 30 April 12 Tenant Overholding.
      5 C2 Vacant 2,476 230
      5 C3 & C4 G-Mack Racking 7,180 667 €21,600 1 March 13 28 February 15 Yearly Licence
      5 C5 Vacant 1,862 173
      6 D1/2 Vacant 7,083 658
      7 E1 Vacant 9,741 905
      7 E2 Vacant 6,135 570
      8 F1 Vacant 13,186 1,225
      9 T4 DSV 194,398 18,060 €565,322 2015 2025 2020 Currently In Legals
      10 T6 DSV 50,117 4,656 €209,550 1 June 15 31 December 15 Currently In legals
      11 T7 (1) DSV 131,999 12,263 €180,000 1 September 08 30 June 29 2019
      11 T7 (2) DSV €168,444 1 July 04 30 June 29 2019
      12 T51A Eir Flowers 9,817 912 €35,000 1 October 02 30 September 12 Tenant Overholding
      12 T51B Vacant 4,672 434
      12 T52 Vacant 3,552 330
      12 T53 National Council for the Blind 4,833 449 €22,000 1 March 14 28 February 15 Tenant Overholding.
      12 T54 Vacant 3,671 341
      12 T55 Vacant 807 75
      12 T56 Vacant 2,465 229
      12 T57 Vacant 1,529 142
      12 T58 Vacant 1,496 139
      12 T59 M&K Deliveries 4,887 454 €14,400 1 December 04 30 November 12 Tenant Overholding. Lease Renewal at €14,400 p.a. to be formalised
      12 T510 Vacant 10,151 943
      1 Unit T81 Head Office Vacant 4,470 415
      1 Unit T82 Head Office Sitbest 620 58 €8,204 02 January 13 2 October 17 Rent includes service charge
      1 Unit T83 Head Office Vacant 7,465 694
      1 Unit T84 Head Office Vacant 2,375 221
      1 Unit T85 Head Office Vacant
      13 K6 Vacant 2,228 207
      14 T9 DSV 39,719 3,690 €60,000 1 August 15 28 February 15 Total rent (6 months licence)
      15 J1 Vacant 2,454 228
      15 J2 Vacant 5,425 504
      16 1A Vacant 5,920 550
      17 1E Dominos Pizza 5,974 555 €58,000 29 December 14 28 December 15
      18 Unit 3 Road A Vacant 18,331 1,703
      19 Unit 3 Road M KC Civil Engineering 7,287 677 €22,050 8 August 14 8 May 19
      20 G1 Lidl Ireland GMBH 39,665 3,685 €51,044 17 July 14 16 July 16
      21 H1/H2 & Yard Construction Accessories Limited – Plaka Ireland 9,192 854 €37,000 1 December 08 31 August 17 Negotiations ongoing regarding rent reduction.
      22 Unit 10 Road M JZ Flowers International Limited 23,013 2,138 €68,758 June 2008 May 2017
      23 Unit 12 Road M Business Mobile Security 10,732 997 €33,000 14 October 13 13 October 18
      23 Unit 12a Road M Coughlans Bakery 3,648 339 €15,000 Tenant overholding
      24 W6 Vacant 18,665 1,734
      25 Unit 1 Road Q1 MDS Distribution 23,896 2,220 €75,000 11 April 14 11 January 19
      26 Monaghan House, adjoining Dawson Rentals Occupied/Residence Tenant overholding
      Meteor Telecommunications Mast €25,000 Annual Licence Agreement
      763,363 70,918 €1,811,638
      Map Reference Unit No Zoning Land Area (Ha)
      27 Site – 4 Road M – Occupied by Mick Phibbs €25,000 pa Industry/Warehousing 0.65
      28 Site – B oppposite Unit T7 Industry/Warehousing 2.46
      29 Site – Adjacent to Dawson Rentals Industry/Warehousing 1.34
      30 Site 1 Road Q Industry/Warehousing 4.05
      31 Site – W1 Road A Industry/Warehousing 1.82
      32 Forestry Unzoned 10.53
      34 Kildare District League Unzoned 2.46
      35 Unzoned land to the rear of Penneys Unzoned 7.69
      36 Stripped Land adjoining Smyth’s Unzoned 12.70
      37 Site- Adjacent to Penneys Industry/Warehousing 0.44
      38 Site – Road O, east of Penneys Unzoned 1.21
      39 Site – Road O, east of Penneys Industry/Warehousing 0.44

    ZONING MAP

    Tougher Business Park is in an area zoned under objective NE1: Industry / Warehousing in the Naas Environs (West) Development Plan 2011 – 2017.

    Permitted uses under the zoning objective include car parks, funeral home, garages, panel beating & car repairs, heavy commercial vehicle park, industry, industry (light), motor sales, petrol station, store, depot, utility structures, warehouse (wholesale) and workshops. Uses open for consideration under the zoning objective include community hall / sports hall, crèche/ playschool, halting site, health centre, medical and related consultant, offices, park / playground, playing fields, recreational buildings, restaurant, shop (convenience) and stable yard.

    COVENANT INFORMATION

    Lot 1 comes with a number of existing, high profile tenants including:

    DSV Solutions

    DSV is a global supplier of transport and logistics services with offices in more than 70 countries and an international network of partners and agents with 23,000 employees worldwide with a reported revenue of €6.5 billion for 2014. In Ireland, DSV offers an extensive range of transport and logistic solutions under the brand of DSV Road, DSV Air & Sea and DSV Solutions, employing more than 400 people in 7 locations. In 2014, DSV Solutions Ireland shipped approximately 450,000 consignments. According to Dun & Bradstreet, DSV Solutions Irish subsidiary had a turnover of €23,806,873 in 2013.

    For further information please see: www.ie.dsv.com

    Domino’s Pizza

    Domino’s Pizza UK & Ireland Ltd recorded an underlying profit before tax for UK & ROI of £63.1m up by 14.3% on 2013. Domino’s currently operates out of 48 stores in Ireland with a revenue from its Irish activities of €21.5m in 2014.

    For further information please see: www.dominos.ie/store

    Applus + Car Testing Limited trading as NCT

    Applus + Car Testing Limited trading as NCT is responsible for the operation of the compulsory vehicle inspection programme in Ireland. The primary aim of the programme is to improve road safety and enhance environmental protection by reducing harmful vehicles emissions in Ireland. According to Dun & Bradstreet, Applus + Car Testing Limited recorded a turnover of €64,282,117 in 2013

    For further information please see: www.ncts.ie/

    Lidl Ireland

    Lidl Ireland GmbH is a wholly owned subsidiary of the UK parent company. Lidl does not disclose its sales or profits in Ireland. The group’s turnover for its UK & Irish operations in the year to February 2014 was £3.3 billion with a projected turnover for year ending February 2015 in the region of £4billion. It is believed that Lidl Irelands 2013 turnover was in the region of €787.5million.

    For further information please see: www.lidl.ie/en/index.htm