20 ON HATCH, HATCH STREET LOWER, DUBLIN 2

Hatch Street

  • Modern refurbished office building located adjacent to Earlsfort Terrace and St Stephen’s Green
  • Purchased in late 2014 for a Net Initial Yield (NIY) of 4.7% but a reversionary yield of 6.3%
  • Total net lettable area of 44,400 square feet
  • Fully let to Met Life and Covidien for c. 5 years
  • Passing rent at €29 per square foot providing potential for significant rental uplift - current market rent in excess of €40 per square foot


8-34 PERCY PLACE, DUBLIN 2

Percy Place

  • Office property with net lettable area of 36,646 square feet
  • DIPF has a 75.9% interest in the property
  • Agreed to purchase an additional 43% interest equating to a 5.25% NIY rising to 7% once vacant space let
  • Post completion agreed to surrender of two floors and relet them gaining additional rent of €6 per square foot to €30 per square foot
  • Also let final unoccupied floor for €33 per square foot
  • Property now fully let with potential for additional rental growth at rent review


BURLINGTON PLAZA, BURLINGTON ROAD, DUBLIN 4

Burlington Plaza

  •  235,000 square foot modern office building
  • Fully let to Bank of Ireland (76,000 square foot), Amazon (105,000 square foot), B Sky B (35,000 square foot) and Adroll (21,000 square foot)
  • Average rent €28 per square foot
  • Potential for significant rental growth
  • DIPF has 25% interest in the property


FERRY HOUSE, 48-53 LOWER MOUNT STREET, DUBLIN 2

Ferry House

  • 34,000 square foot office building located on Mount Street in Dublin 2 and adjacent to Bord Gais Warrington Place Headquarters
  • Fully let to 9 tenants
  • Current average rent of €20 per square foot; rents agreed in 2010 – 2012 period
  • Estimated Rental Value (ERV) at €31 per square foot – now benefits from rise in rents generally and squeeze on prime space and rents are likely to move higher as new deals agreed
  • First reviews/expiries in 2015 and will increase rental tone to ERV
  • DIPF has 100% interest in the property


TREASURY BUILDING, LOWER GRAND CANAL STREET, DUBLIN 2

Treasury Building

  •  Large modern office building located close to Google Docks area
  • 124,000 square foot office building located in Silicon Docks area of Dublin
  • Fully let to National Treasury Management Agency (NTMA) (38,000 square feet), National Asset Management Agency (NAMA) (66,000 square feet) and Elan (20,000 square feet)
  • Various lease end dates but Weighted Average Unexpired Lease Term of c. 7 years
  • DIPF has a 21% interest in the property


2-5 WARRINGTON PLACE, DUBLIN 2

Warrington Place

  • Located in Dublin 2 on the canal and beside new Bord Gais Headquarters
  • 11,500 square foot modern office building
  • Let to Broadcasting Authority of Ireland on a long lease