boroimhe 10 - bannon · r132 and south of swords centre. primary access to the boroimhe is via the...
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BoroimheS h o p p i n g C e nt r eS W O R D S C O D U B L I N
Joint agents
FOR SALEby Private TreatyTenants Not Affected
INDEPENDENT
UNITS
10OCCUPIED
100%ANCHORED BY
+BOROIMHE MEDICAL CENTRE
Executive Summary
Anchor
uEstablished neighbourhood scheme situated in the established residential area of Boroimhe, south of Swords Village.
uDeveloped in 2006 by leading Irish construction company Bovale Developments.
uIn excess of 2,500 private homes within 1km of the scheme.
u3,115 sq m (33,530 sq ft) scheme with 100% commercial occupancy and a current rental income of circa. €829,570 per annum.
uWell configured retail scheme with ample surface car parking.
uTenant mix includes SuperValu, Boroimhe Pharmacy, Bambury Bookmakers, Boroimhe Medical Centre and Little Apples Creche amongst others.
uAverage Weighted unexpired lease term of 17 years.
BoroimheS h o p p i n g C e nt r e
Airside Retail Park R132 To M50 / Dublin Airport u
t To Swords
N32
R132
M1
M1
M50
M50
Swords
PhoenixPark
DublinCity
Centre
Port Tunnel
DublinAirport
Prop
osed
Met
ro L
ine
Prop
osed
Met
ro L
ine
WhitehallFinglas
MalahideAirside
KinsealySt. Margarets
Lusk
Skerries
Balbriggan
Ashbourne
Donabate
Sutton
Donaghmede
Clontarf
Raheny
Howth
Balgriffin
Portmarnock
Ballyboghil
LocationBoroimhe Shopping Centre is situated in North County Dublin approximately 1.2km south of Swords Village and 2.0km north of Dublin Airport. The Shopping Centre is located within the now established densely populated residential location of Boroimhe immediately west of the R132 and south of Swords Centre. Primary access to the Boroimhe is via the R132 directly opposite the successful Airside Retail Park.
Swords is the capital of Fingal and is a thriving town with large industrial, commercial and educational facilities. The Swords population as per Census 2011 was 36,924 of which Boroimhe forms part. The Boroimhe area was initially developed in the late 1990’s and subsequently extended over the last decade. The area accommodates in excess of 2,500 family homes with the shopping centre providing neighbourhood service facilities.
The shopping centre is situated in the heart of the development along the main spine road (L2300) of the development at its intersection with Forest Road and Rathingle Road. The centre enjoys excellent profile onto this busy junction and thus benefits from significant passing vehicular traffic together with being located within walking distance of a significant number of dwellings.
BoroimheS h o p p i n g C e nt r eS W O R D S C O D U B L I N
BoroimheS h o p p i n g C e nt r eS W O R D S C O D U B L I N
DublinSwords
Belfast
Galway
Limerick
Cork
INDEPENDENT
UNITS
10OCCUPIED
100%ANCHORED BY
+BOROIMHE MEDICAL CENTRE
DescriptionDeveloped in 2006 by Bovale Developments, Boroimhe Shopping Centre is a modern well designed neighbourhood centre providing approximately 3,115 sq m (33,530 sq ft) of commercial accommodation together with excellent grade car parking provisions. The scheme provides 10 independent units within a predominately external scheme anchored by a Super Valu supermarket and Boroimhe Medical centre. An independent crèche facility is provided towards the front of the scheme and is self-contained whilst a modern gym facility occupies the top floor of the main building. The scheme is currently 100% occupied by a range of users including Pizza Hut, Bambury Bookmarkers, and Little Apples crèche amongst others.
AccommodationGround Floor
Unit User Area Sq m Area Sq ft
1McNamara Pharmacy
177 1,905.2
2 Two Spots Coffee 94 1,011.8
3Scaramousse Hairdressers
75 807.3
4Bambury Bookmakers
78 839.6
5 Little Polska 78 839.6
6 Pizza Hut 74 796.5
7Boroimhe Medical Centre
432 4,650.0
8 Verve Fitness 497 5,349.7
9 SuperValu 1,270 13,670.2
10 Little Apples Creche 340 3,659.7
TOTAL 3,115 33,530
Unit 3
Unit 2
Unit 1
Unit 4
Unit 5
Unit 6
Créche
F O R E S T R O A D
LIN
K R
OA
D
Créche Play Area
Unit 7 Unit 8 - Gym
First Floor Second Floor
Unit 3
Unit 2
Unit 1
Unit 4
Unit 5
Unit 6
Créche
F O R E S T R O A D
LIN
K R
OA
D
Créche Play Area
Unit 7 Unit 8 - Gym
Unit 3
Unit 2
Unit 1
Unit 4
Unit 5
Unit 6
Créche
F O R E S T R O A D
LIN
K R
OA
D
Créche Play Area
Unit 7 Unit 8 - Gym
BoroimheS h o p p i n g C e nt r eS W O R D S C O D U B L I N
Tenancy ScheduleUnit Tenant T/a Term (yrs) Commence Expiry /Break Term Certain Area Sq m Area Sq ft
1 Boroimhe Pharmacy Ltd McNamara Pharmacy 25 01/04/2007 31/03/2032 18.50 177 1,905.2
2 Two Spot Coffee LTD Café 5 12/02/2013 11/02/2016 2.37 94 1,011.8
3 Carol Whelan Scaramouse Haidressers 25 08/09/2006 07/09/2031 17.27 75 807.3
4 Fimbarn Leisure Bambury Bookmakers 25 16/12/2006 15/12/2031 18.40 78 839.6
5 Swords Challenge Ltd Little Polska 10 13/06/2013 12/06/2016 2.70 78 839.6
6 Pizza Hut (UK) Ltd Pizza Hut 25 20/12/2007 19/12/2032 18.80 74 796.5
7 Boroimhe Pharmacy Medical Centre 25 01/04/2007 31/03/2032 18.69 432 4,650.0
8 Majko Ltd t/a Verve Verve Fitness 20 17/09/2012 16/09/2017 3.96 497 5,349.7
9 Swords Alliance Ltd Supervalu 25 06/06/2006 05/06/2031 18.12 1,270 13,670.2
10 Seamus & Anne Faye Little Apples Creche 25 21/05/2007 20/05/2032 18.83 340 3,659.7
1 Vodafone Mast 10 19/10/2007 18/10/2017 4.24
2 Ripple Communication Mast 3 Month Rolling Licence
3 Hutchinson 3G Mast 4.91 30/03/2007 29/02/2012
4 Meteor Mast 5 01/02/2010 01/02/2015 1.53
5 Super League Mall Annual Licence
3,115 33,530
Current rent receivable is approximately €829,570 per annum. A full tenancy schedule is available on the Boroimhe Shopping Centre data site. Access available on request.
Income Profile Investment MarketBoroimhe Shopping centre is currently 100% occupied and benefits from a weighted average unexpired lease term of 17 years. The existing tenants have a proven occupancy history within the scheme since its establishment. The scheme anchor SuperValu attributes 44.6% of the current receivable income with the Medical Centre and Pharmacy attributing 25.65% of income.
Boroimhe has an excellent income expiry profile with approximately 90% of existing leases with in excess of 15 years lease term unexpired.
To date there has been €970 Million spent on the purchase of Investment properties in 2013 representing 37 transactions above €1 Million, compared with an overall spend of €545 Million in 2012 for 35 Transactions. There is a continued strong international appetite for prime investment opportunities and portfolio’s, with 57% of the spend sourced from International Investors. There has been a limited amount of good quality Retail Investments launched to the market and in a particular no Shopping Centres have traded. In 2012, 10% of the spend was derived from the purchase of Retail Investments whereas in 2013 to date 9% has been spent on the purchase of Retail Investments. The capital gains tax waiver at the end of this year will inevitably encourage a surge in activity over the next few months as some buyers strive to get transactions completed by year-end
McNamara Pharmacy
Two Spots Coffee
Scaramousse Hairdressers
Bambury Bookmakers
LiLle Polska
Pizza Hut (UK)
Medical Centre
Verve Fitness
Supervalu
LiLle Apples Creche
Vodafone
Ice/Ripple Communica\ons
3G
Meteor
Superleague
0.24%1.94%
1.57%0.73%
1.33%4.91%
4.91%
5.81%
4.36%
0.00%89.84%
2.18%
3.63%
5.59%
2.18%
5.08%
12.38%
0.12%
1 - 5
6 - 10
11 - 15
16+
BoroimheS h o p p i n g C e nt r eS W O R D S C O D U B L I N
BoroimheS h o p p i n g C e nt r eS W O R D S C O D U B L I N
19/26 Hambleden House, Pembroke Street Lower,Dublin 2. David Carroll+353 1 647 [email protected]
Rod Nowlan+353 1 647 [email protected]
3rd Floor, Connaught House,1 Burlington Road, Dublin 4.
Natalie Brennan+353 1 618 [email protected]
Willie Norse+353 1 618 [email protected]
TitleFreehold.
BER to
Full details available on request.
ViewingsViewings are strictly by appointment through the joint selling agents.
SolicitorsSmith Foy & Partners59 Fitzwilliam SquareDublin 2
Raymond Smith+353 1 [email protected]
Joint Agents
These particulars are issued by Bannon and CBRE on the understanding that any negotiations relating to the property are conducted through them. While every care is taken in preparing them, Bannon and CBRE, for themselves and for the Vendor/lessor whose agents they are, give notice that: (1) The particulars are set out as a general outl ine for guiding potential purchasers/tenants and do not constitute any part of an offer or contract. (2) Any representation including description, dimensions, references to condition, permissions or l icences 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. (3) Bannon and CBRE nor any of its employees have any authority to make or give any representation or warranty in relation to the property.