Longboat Quay GRAND CANAL DOCK DUBLIN 2 - Multi-Family Investment Opportunity - For Sale by Private Treaty - Savills
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Multi-Family Investment Opportunity
Longboat Quay
GRAND CANAL DOCK
DUBLIN 2
For Sale by Private Treaty
Longboat Quay Multi-Family Investment Opportunity
GRAND CANAL DOCK
DUBLIN 2
LUAS George’s Dock
Citibank The Convention Centre
A&L Goodbody
Morgan Stanley PwC
Bloomberg Three
New Central Bank
Facebook HQ
Bord Gais Theatre Longboat Quay North
The Marker Hotel SEB
William Fry
Matheson 3Arena
Capita
LogMeIn
HSBC State Street
TripAdvisor
Airbnb Capital Dock
Longboat Quay South Accenture
Zalando
Bolands Mill
Mason, Hayes & Curran
Monevetro Building
Google HQ
Sale Summary
• Multi-family investment (part of larger development) comprising 17 apartments and 23 • Forecast gross ERV of approx. €545,000 per annum (assuming 100% occupancy)
secure car spaces • Average unit size: 1 Bed 507 sq ft / 2 Bed 785 sq ft / 3 Bed 885 sq ft
• Complimentary mix of 1,2 and 3 bed units • Highly sought-after rental location
• 1 duplex penthouse apartment for sale in shell and core condition • Excellent tenant amenities and transport links nearby
• 15 of the units for sale with vacant possession
Longboat Quay Multi-Family Investment Opportunity
T
EE
TR
M50
TSE
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RS
GRAND CANAL DOCK EE
TR
DO
Broadstone S
DUBLIN 2 E LL
RN
PA
Location
AD
RO
Dominick
ST
Longboat Quay occupies a dual aspect position on
Connolly
EA
O’Connell Docklands
Upper
both Sir John Rogerson’s Quay and Grand Canal Dock,
T
SHERIFF
LL S
Marlborough STREET
offering enviable waterfront views and direct access to
UPPER
George’s Dock
E
ONN
Busaras Mayor Square
Abbey
a host of amenities. The area benefits from excellent Street Spencer Dock
O’C
T LS
transport infrastructure that is positioned within short
The Point
CAPE
Jervis
walking distance of the subject properties. These
O’Connell
GPO
provide convenient access to the Dublin City Centre
NORTH W
Four Courts ALL QUAY
Tara CITY Q
UAY
and surrounding areas. Street
Longboat Quay
Westmoreland S IR JO
HN RO
One of Longboat Quay’s greatest attractions is its
GERSO
Trinity N’S QUAY
immediate employment hub, with global employers
HANO
such as Google, Facebook and Airbnb also choosing TRINITY GRA VER
ND CAN QUAY
ST REET COLLEGE A L ST
DAME LOW
the South Docklands as their preferred location. This Pearse
ER
makes it an ideal place to live, work and socialise.
REET
T
REE
N ST
IER ST
Dawson
ALL WITHIN WALKING DISTANCE:
FT O
AUNG
GRA
Facebook HQ 270m
R
PE
MO
UP
UN
T
Airbnb HQ 300m MERRION ST
ET
LO
RE
SQUARE WE Grand Canal Dock
ST
R
A&L Goodbody 550m
N
St Stephen’s
RIO
Green
R
PwC 650m
T
ME
AS
ST STEPHEN’S
TE
GREEN BA
GG MO
S
Google HQ 750m OT UN
BATH AVE
NUE
ES
S TR TS
M
EE TU
JA
T PP
Central Bank of Ireland 900m Luas Green Line ER
D
OA
NR
Luas Red Line
Twitter HQ 1.3km BA
G
G ING
TO
Luas Cross City O DD Aviva
HA
E
NO
T
AC
Stadium
R
PL
ST
TH
EE
R
Dublin Bus Stop T
I AM
UM
IL L
BE
D
Dublin Aircoach Stops OA
ZW
Lansdowne Road
RL
Harcourt IL R
SP
AN
ME
FIT
Dart Stations
D
RO
ADELAIDE R PEMB
AD
ROAD
Dublin City Bike Terminus OAD ROKE
IRCULAR ROAD
SOUTH C AD
E
AR
N DP
GRA
Charlemont
AD
CANAL RO
GROVE ROAD
Ranelagh
Longboat Quay Multi-Family Investment Opportunity
GRAND CANAL DOCK
DUBLIN 2
Asset Overview
Longboat Quay is an exclusive mixed-use development
constructed circa 2006 consisting of retail, office and
residential accommodation. The overall Longboat
Quay development comprises 299 residential units, of
which 17 residential units make up the subject multi-
family investment opportunity. The development is
designed around 2 blocks with the subject properties
being dispersed throughout. The blocks are centred
around two courtyards which include children’s play
areas.
Of the 17 units, there are 2 one beds, 4 two beds, 10
three beds and 1 shell and core penthouse, all which
have lift access to every floor. The penthouse boasts
an impressive private roof terrace providing skyline
views of Dublin City Centre. Included in the sale are 23
secure basement and surface car parking spaces.
There is currently the benefit of 15 vacant units.
South Block
Dual aspect on
Sir John Rogerson’s Quay and
Longboat Qua
Grand Canal Dock
y North
13
UNITS
LA ZE R LA
NE
ST RE ET
RO AD
RO A D
FO RB ES
AS GA RD
HO RS E FA
IR
O N EY
BL O O D ST
4
UNITS
Longboat Q
uay South
H A N O V ER
QUAY
Plans are for identification purposes only / not to scale
Longboat Quay
GRAND CANAL DOCK
DUBLIN 2
Floor Plans Floor Plans
Typical 1 Bed Apartment Typical 3 Bed Apartment
Typical 2 Bed Apartment Penthouse Apartment (shell and core)
Plans are for identification purposes only / not to scale
Longboat Quay Multi-Family Investment Opportunity
GRAND CANAL DOCK
DUBLIN 2
Income Potential Multi-Family Market
Economic Overview
Estimated Achievable Average Rent
(Dependant on Elected Asset Management Strategy)
€2,673 7.2%
Ireland continues to Total output is rising at an Reflecting Ireland’s economic There are now more
Total Estimated Rental Value experience the fastest annual rate of 7.2% outperformance, total people employed in
rate of economic growth (4 Qtr. Mov. Avg. basis) employment is now rising by the Republic than ever
€545,000 in the EU 66,700 (+3%) per annum before
Residential Rental Market
Description No. Units Average Size per Average Size Average ERV per
Sq M per Sq Ft Month
1 BED 2 47.1 507 €2,000 1.35%
2 BED 4 72.9 785 €2,400
Demand for rented Proportion of households Despite an expansion in the
3 BED 10 82.2 885 €2,850
accommodation continues to renting privately in Dublin overall stock of properties
1 63.2 680 €2,900* be driven by the affordability have doubled to 25% in in Dublin’s PRS, vacancy has
Shell & Core Penthouse
challenges of home ownership fifteen years fallen to just 1.35%
All prospective purchasers are specifically advised to satisfy themselves to the accuracy of any measurements, tenancy information, ERV referred to
herein and undertake their own due diligence.
5.19% rising rents 9.5%
*Please note the penthouse is shell and core condition and prospective purchasers will be required to undertake fit-out
Natural Vacancy With the actual vacancy rate beneath Average
Rate (NVR) the NVR, the net result has been residential rents
estimate is in Dublin are
in the capital currently rising by per annum
Rental Growth Forecasts
Overall continued growth of Residential Rents Forecast – Dublin New Lets
on new residential lettings 150
17.3% in Dublin is forecast over the
twelve quarters Q3 2018 -
140
130
Q2 2021
Index: Q3 2007 = 100
120
110
100
Average rental growth of
90
80
6.2% per annum is expected 70
2007 Q3
2008 Q1
2008 Q3
2009 Q1
2009 Q3
2010 Q1
2010 Q3
2011 Q1
2011 Q3
2012 Q1
2012 Q3
2013 Q1
2013 Q3
2014 Q1
2014 Q3
2015 Q1
2015 Q3
2016 Q1
2016 Q3
2017 Q1
2017 Q3
2018 Q1
2018 Q3(f)
2019 Q1(f)
2019 Q3(f)
2020 Q1(f)
2020 Q3(f)
2021 Q1(f)
on new lets over this period
Source: Savills Research
Longboat Quay
GRAND CANAL DOCK
DUBLIN 2
Selling on behalf of
Viewings
Viewings are strictly to be arranged through
the selling agents.
Guide Price Selling Agents
€8,750,000 (inclusive of VAT) Savills
33 Molesworth Street
Dublin 2
www.savillls.ie
BER Details PSRA No: 002233
Dessie Kilkenny
+353 1 618 1401
Dessie.Kilkenny@savills.ie
VAT Position on Sale John Earley
Please refer to the data site for information +353 1 618 1766
regarding VAT on the sale John.Earley@savills.ie
Darragh Doyle
+353 1 618 1341
Project Website Darragh.Doyle@savills.ie
www.longboatquay.com
Solicitors
Beauchamps Gerry Gallen
Riverside Two +353 1 418 0619
Sir John Rogerson’s Quay g.gallen@beauchamps.ie
Dublin 2
The agents and the Vendor/Lessor 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, Lessees 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. Neither Savills 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 neither Savills 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. Prices quoted are exclusive of VAT (unless otherwise stated) and all
negotiations are conducted on the basis that the purchasers/lessees shall be liable for any VAT arising on the transaction. All maps produced by permission of the Ordnance
Survey Ireland Licence No AU 001799 © Government of Ireland. Designed and produced by Creativeworld. Tel +44 [0] 1282 858200.
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