5,602 SQ. M. (60,296 SQ. FT.) ACRES AN EXCEPTIONAL COVENANT BILLION TENANT UNAFFECTED OPPORTUNITY TO ACQUIRE A LONG INCOME INVESTMENT WITH

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1 W O O D I E S D I Y N A A S R O A D, D U B L I N 1 2 S E C U R E L O N G I N C O M E I N V E S T M E N T O P P O R T U N I T Y T e n a n t n o t a f f e c t e d

2 OPPORTUNITY TO ACQUIRE A LONG INCOME INVESTMENT WITH AN EXCEPTIONAL COVENANT The retail warehouse was completed in 2004 and extends to approximately 5,602 sq. m. (60,296 sq. ft.) on a Gross Internal Area (GIA). An outdoor garden centre which adjoins the retail warehouse extends to 1,363 sq. m. (14,674 sq. ft.) GIA. There are approximately 345 surface car parking spaces. The building is of steel frame construction with a mix of cavity wall and glazed façade. Let to Woodie s D.I.Y Ltd. under a 25 year FRI lease from 23rd June 2004 producing an Grafton Group PLC parent company guarantee, a UK based company with a turnover of 2.21 BILLION ANNUAL RENT OF 1,922,769 Unexpired lease term of circa 12.5 YEARS UPWARD ONLY RENT REVIEWS TENANT UNAFFECTED CLOSE PROXIMITY TO THE M50 EXCELLENT PROFILE & ACCESSIBILITY to all major arterial routes The property extends to approx. 5,602 SQ. M. (60,296 SQ. FT.) Situated on a large site extending to approx ACRES

3 M50 LUAS Park and Ride Red Cow Roundabout Location Located between the Naas Road and New Nangor Road, the property benefits from excellent transport and delivery routes. The M50 interchange is within close proximity (Junction 9) which provides access to all arterial routes and the Red Cow LUAS stop is situated approximately 750 metres from the property. Naas Road The immediate area is well known for its retail and light industries. Nearby occupiers include Harris Commercial Vehicles, McDonalds, Royal Liver Retail Park, FBD Insurance, The Red Cow Moran Hotel, alongside a number of car dealers and home furnishings suppliers. M2 DUBLIN AIRPORT M1 M3 M50 Long Mile Road M4 D U B L I N C I T Y C E N T R E M7 New Nangor Road M50 N11

4 Tenancy Retail Market The entire property is LET TO WOODIE S D.I.Y. LTD. ON A 25 YEAR FRI LEASE FROM 23RD JUNE The current passing rent is 1,922,769 P.A. which is subject to 5 YEARLY UPWARD ONLY RENT REVIEWS. The LEASE IS GUARANTEED BY GRAFTON GROUP PLC for the duration of the term. Economic Overview Ireland s economic output grew by 5.2% in 2016 making Ireland the fastest growing economy in the EU for the third consecutive year. Within this consumer spending grew at a solid 3% on an annual basis. Underpinned by the continued improvement in the labour market - employment rose by 3.3% per annum in Q and unemployment has fallen to 6.4% in March 2017, its lowest rate since Overall Retail Sales grew by 5.9% (Excluding motor trades) Covenant The Grafton Group Plc is an international distributor of building materials and related activities. The Grafton Group is ranked number 1 in Ireland for builders and plumbers merchanting, and DIY retailing. The Group trades from 35 stores nationally under the Woodie s brand. The Grafton Group Plc has a Dun & Bradstreet credit rating of 5A2 which represents tangible net worth of 431 million and a turnover of 2.2 billion based on accounts dated 31st December The Grafton Group reported a turnover of 2.5 billion in 2016, up 13% from Accommodation Schedule SQ. M. SQ. FT. Retail Warehouse 5,602 60,296 Outdoor Garden Centre 1,360 14,639 Interested parties should satisfy themselves as to the accuracy of the above floor areas. Consumer Economy With the labour market continuing to tighten, average earnings have risen for 9 quarters and are 5.8% higher than they were at the end of Q Coupled with tax cuts in three consecutive budgets, this has led to a significant lift in real household disposable incomes. Adding to this, rising house prices and share values have increased households asset wealth - the net worth of Irish households has risen by 39.6% in the four years to Q A further important development has been the pronounced rebound in consumer credit. For 75 consecutive months between the end of 2009 and March of last year, households paid off consumer debt more quickly than they drew down new loans, resulting in contracting credit balances. This changed dramatically from April 2016 and, since then, there has been sustained and sharp growth in outstanding consumer debt. This is significant for two reasons. Firstly, it adds to consumers spending power. Until this year the consumer recovery had been funded through jobs growth, modest increases in take home pay and reduced savings. But borrowing has now added another source of funding for consumer expenditure. Secondly, credit expansion provides further evidence that the underlying confidence of consumers and banks has returned to a more normalised level. Furniture & Lighting Sales up 16.5% Hardware, Paint & Glass up 10.1% Electrical Goods up 6.3% Outlook Although the economic outlook remains broadly favourable, Brexit, the Apple ruling and the US election result have added uncertainty to the outlook. However Savills econometric analysis, which is based on data going back to 2000, shows that employment has historically been by far the most important factor in determining the retail rents. With the latest CSO data showing an acceleration in jobs growth in Q4 2016, and with consensus forecasts pointing to further robust employment gains, our view is that the fundamentals of the macro-economy should continue to support strong demand for retail property and further rental growth. Source CSO (February 2017) & Savills Research

5 Zoning The site is zoned Objective EE, to provide for enterprise and employment related uses under the South Dublin County Council Development Plan Viewing All viewings are strictly by appointment through the sole selling agent. Guide Price 26.5 million reflecting a net initial yield of 6.95% assuming standard purchasers costs of 4.46% Agent Savills Ireland 33 Molesworth Street, Dublin 2 PSRA: Solicitor McCann FitzGerald Riverside One, Sir John Rogerson s Quay Dublin 2 Dessie Kilkenny +353 (0) dessie.kilkenny@savills.ie Donal O Raghallaigh +353 (0) donal.oraghallaigh@mccannfitzgerald.com Leona Mullen +353 (0) leona.mullen@savills.ie Aimee Kirwan +353 (0) aimee.kirwan@mccannfitzgerald.com DISCLAIMER: These particulars are issued by Savills Ireland on the understanding that any negotiations relating to the property are conducted through them. While every care has been taken in preparing them, by Savills Ireland for themselves and for the vendor/lessor whose agents they are, give notice that:- (i) The particulars are set out as a general outline for guiding potential purchasers/tenants and do not constitute any part of an offer or contract. (ii) Any representation including descriptions, dimensions, references to condition, permissions or licenses 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. (iii) Neither by Savills Ireland, nor any of their employees have any authority to make any or give any representation or warranty in relation to the property.