CANON HALL Dublin Docklands
36 Apartment Multi-family Investment and 1 Retail Unit www.canonhall.ie
Canon Hall, Church Street East, Dublin 3.
Investment Summary • An opportunity to buy 36 apartments and a retail unit in a striking 11-storey block in Dublin’s Docklands. • The Dublin apartment leasing market is performing very strongly with demand outstripping supply. • Apartment rents grew by 8.7% during 2015. • The offering is currently generating a rent of €522,720 per annum compared to its market rent of €655,200 per annum.
DART
CLOSE TO
CONVENTION CENTRE DUBLIN
LUAS
IFSC
MODERN
RETAIL UNIT
ONE & TWO BED APARTMENTS
9x
27x
1 BED APARTMENTS
2 BED APARTMENTS
COMPLETED
34
2008
PARKING SPACES
ERV
CURRENT INCOME
E655,200
E522,720
2
3
O’Connell Street Trinity College Merrion Square
Tara Street Station
IFSC Connolly Station National College of Ireland
Bord Gáis Energy Theatre
Marker Hotel
DART Line
Convention Centre
Spencer Dock
Docklands Station
M3 Parkway Line
New Central Bank HQ 250,000 sq.ft. of offices
River Liffey LUAS Red Line
Spencer Dock-Phase 2 up to 700,000 sq.ft. of offices
CANON HALL
Project Wave 500,000 sq.ft. of commercial space and 250 apartments
3 Arena Point Village
Gibson Hotel
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Canon Hall
DRAMATIC VIEWS Across the city
Description
11-STOREY Landmark Building
COURTYARD
• Canon Hall is an 11-storey development of 61 apartments and one retail unit over basement car parking of 57 spaces
Landscaped
• The scheme was completed in 2008 by McDermott & O'Farrell • All of the apartments have balconies or terraces and there is a communal landscaped courtyard • The upper floor units have stunning views across the city • This sale includes 27 two-bedroom and 9 onebedroom apartments, 34 basement parking spaces and a retail unit
Landscaped Courtyard
BALCONIES
or terraces on all units
RETAIL UNIT View from Balcony
8
9
CAR PARKING Basement
Canon Hall
Internal Courtyard
Schedule of Accommodation Canon Hall is a development consisting of 61 apartments and one retail unit. Below are details of the investment opportunity for sale.
Total
1 Bed 9
2 Bed 25
2 Bed Penthouse 2
Retail 1
Total 37
Average Unit Size (sq.m.) Average Unit Size (sq.ft.)
51 549
73 786
85 915
149 1,604
2,605 28,040
34 basement car parking spaces are included in the investment. Sizes are Gross Internal Area.
Living Room and Kitchen
11
Canon Hall
Specification Common Areas • CCTV to common area and access control • Landscaped courtyard areas • Quality paving throughout the development • Stairs and corridors finished in high- quality carpeting • Individual post boxes • Secure underground parking/ CCTV
Kitchen • Contemporary designed kitchens • Integrated appliances • High-quality floor tiling
Bedrooms • Full height fitted wardrobes with integrated shelves and hanging rails • Wired for TV and telephone in all bedrooms
Bathroom • • • •
Luxuriously appointed bathrooms Fully tiled throughout Chrome and glass bath/shower screen Thermostatically controlled high-pressure shower
• Solid hardwood main entrance door to all apartments • Selected veneer doors with chrome furniture to all internal doors
Heating and Hot Water • Natural Gas central heating in all apartments • Pressurised hot water system
Electrics • All apartments are pre-wired for cable television, alarm and telephone • Security video intercom to all apartments • Generous electrical specification • Chrome finished switches and sockets in living rooms and kitchens
Living Room
Lift • High-speed lifts which serve all floors from underground car park
Flooring • Hardwood flooring throughout
Windows and Doors • High-quality double-glazed composite windows with floor to ceiling windows and patio doors in living room to maximise natural light
Kitchen
Balcony
12
Bathroom
13
Canon Hall
Investment / Tenancy Details
Further Information
• The Canon Hall apartments are let on short term residential tenancy agreements with the exception of two apartments, which are vacant
• The retail unit is vacant and ready for immediate occupation
Floor Plans
Viewings
• The table below outlines the current rents and estimated rental values (ERVs) for the investment opportunity at Canon Hall
Available on the Data Site.
Viewings are strictly to be arranged through the joint selling agents.
Rateable Valuation
• The majority of the apartments are let by way of agreements under Part 4 of the Residential Tenancies Act, 2004
Building Total Units
1 Bed
2 Bed
2 Bed Penthouse
Retail
Total
9
25
2
1
37
Average Unit Size (sq.m.)
51
73
85
149
2,605
Average Unit Size (sq.ft.)
549
786
915
1,604
28,040
0
1
1
1
3
Average Passing Rent per Unit (p.m.)
€1,067
€1,344
€1,700
€0
€522,720 p.a.
Estimated Rental Values per Unit (p.m.)
€1,250
€1,554
€1,750
€1,000
€655,200 p.a.
No. of Current Vacant Units
www.canonhall.ie
Terms
Tenure The apartments in Canon Hall will be on individual leases for 500 years from the 1st January 2008.
For Sale by Private Treaty in a single lot.
Pricing
Estate Management
On application.
The development is managed by McDermott & O’Farrell. Full details are available on the data site.
Solicitors
Building Energy Ratings The BER’s for the subject apartments range from B1-B3. Individual BER details available on data site. The BER rating for the retail unit is D1.
Economic Overview at a Glance
Website and Data Site
Rateable Valuation is €26,000. Dublin City Council Multiplier is 0.256. Commercial Rates are €6,656 per annum (RV x Multiplier).
Gartlan Furey Solicitors, 20 Fitzwilliam Square South, Dublin 2. Ireland
Building Surveys Assignable building survey available on the data site.
22%
FALLING UNEMPLOYMENT
20% DUBLIN RATE
10%
STRONGEST EMPLOYMENT GROWTH RATE IN
8.7%
EUROPE
4.8%
5%
4.1% 1.2%
DUBLIN IS THE INTERNET HUB OF EUROPE
APT RENTS RISING
8.8%
GDP GROWTH
GROWING CONSUMER SPENDING
EXCHEQUER RETURNS
POP. GROWTH PROJECTED IN DUBLIN 2016-2021
1,150 INTERNATIONAL CORPORATE’S HEADQUARTERED IN
DUBLIN
The Joint Agents and the Joint Vendors give note that the particulars and information contained in this brochure do not form any part of any offer or contract and are for guidance only. The particulars, descriptions, dimensions, references to condition, permissions or licences for use or occupation, access and any other details, such as prices, rents or any other outgoings are for guidance only and are subject to change. Maps and plans are not to scale and measurements are approximate. Whilst care has been taken in the preparation of this brochure intending purchasers, Leassees or any third party should not rely on particulars and information contained in this brochure as statements of fact but must satisfy themselves as to the accuracy of details given to them. Lisney and / or Hooke & MacDonald nor any of their employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and Lisney and / or Hooke & MacDonald nor any of their employees nor the vendor or lessor shall be liable for any loss suffered by an intending purchaser/lessees or any third party arising from the particulars or information contained in this brochure.
design | conradjones.com
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Joint Selling Agents
Lisney
Hooke & MacDonald
St. Stephen’s Green House Earlsfort Terrace, Dublin 2, Ireland.
118 Lower Baggot Street, Dublin 2, Ireland.
www.lisney.com PSRA licence No.001848
www.hookemacdonald.ie PSRA Licence No. 001651
Duncan Lyster +353 (0)1 638 2743
[email protected]
David Cantwell +353 (0)1 631 8402
[email protected]
Lynda Gordon +353 (0) 1 638 2768
[email protected]
Donald MacDonald +353 (0)1 631 8403
[email protected]
Frank McSharry +353 (0) 1 638 2717
[email protected]
Gavin Hanlon +353 (0)1 631 8403
[email protected]
CANON HALL www.canonhall.ie
