OAKLAND INTERNATIONAL - FOOD CENTRAL, ST MARGARET'S, CO DUBLIN - PRIME INVESTMENT OPPORTUNITY - AMAZON S3
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Oakland International Food Central, St Margaret’s, Co Dublin Prime Investment Opportunity For Sale by Private Treaty (tenant not affected) www.lsh.ie
Oakland International
Food Central, St Margaret’s, Co Dublin
€
€
Situated State of PHASE 1 PHASE 2 Attractive
in a dedicated 280 acre the art Sale and Leaseback Sale and Leaseback Net Initial Yield equates
Food Park bringing purpose built of existing 4,522 sqm of an additional to 6.43% off an initial rental
together international and cold storage facility (48,892 sqft) facility at 3,047 sqm (32,800 sqft) income of €501,143 per annum
national food businesses €10.25 psft per annum with creating a total of 7,589 sqm (€10.25 psft) from 31st July
over 15 years term certain (81,692 sqft) upon completion 2019 rising to €837,343
in August 2020 per annum (€10.25 psft)
in August 2020
Dublin Airport North Runway
Keelings Phase 1 Phase 2
4,542 sqm (48,892 sqft) 3,047 sqm (32,800 sqft)
July 2019 August 2020
Location
The subject property is located in Food Central, St Margaret’s, Co Dublin approximately 5km from Dublin International Airport, 5km from the M50 Motorway and
9km from Dublin’s Port Tunnel providing rapid access to Dublin Port.
Food Central is a new concept for the Irish Market – a dedicated 280 Acres / 113 hectares Food Park bringing together international and national food businesses.
Surrounding occupiers include; Keelings, Donnelly Fresh Foods, Glan Arís and Dixon Transport.
Description
Phase 1 as it stands, comprises of a state of the art purpose built cold storage
facility extending to 2,675 sqm (28,793 sqft) incorporating 410.9 sqm (4,423
Phase 1: 31st JULY 2019
sqft) of office accommodation. · Lease commencement: 31st July 2019
An extension to Phase 1 is due to be completed in October 2019 and will · Property: Phase 1, 4,422 sqm (48,842 sqft)
comprise of further state of the art cold storage and storage warehousing · Tenant: Kool 4 Logistics Limited
extending to approx. 1,867 sqm (20,099 sqft).
· Term: 15 year lease with 5 yearly reviews
Upon completion, the total built environment of Phase 1 will equate to 4,542
sqm (48,892 sqft). · 15 year Parent Guarantor: Oakland International Limited
· Option: Option agreement for a further 10 year extension
Plans for a second phase of construction creating a further 3,047 sqm (32,800
sqft) of cold storage space are to be completed by August 2020. Upon · Lease expires: 30th July 2034
completion the entire facility will extend to approx. 7,589 sqm (81,692 sqft). · Passing Rent: €501,413 per annum (€10.25 per sqft per annum)
· Guiding: €7,400,000 ex VAT (6.43% NIY)
· Phase 1 payment is due on 31st July 2019
The Opportunity
The investment opportunity is created by way of a sale and leaseback to
cold storage provider, Kool4Logistics, guaranteed for the first 15 years of the
tenancy by their UK parent company, Oakland International. A tenant only
Phase 2: AUGUST 2020
option agreement for an additional 10 year lease extension will also be in · Lease commencement: August 2020 or upon construction completion
effect. · Property: Phase 2, 3,047 sqm (32,800 sqft)
The facility was constructed in 2018 and extends to 2,675 sqm (28,793 sqft). Full · Tenant: Kool 4 Logistics Limited
planning permission is in place for an additional 1,867 sqm (20,099 sqft) which
is due for completion in October 2019. The original facility and the extension · Guarantor: Oakland International Limited
which extends to a total of 4,422 sqm (48,842 sqft) is what constitutes Phase 1. · Term: Co Terminus lease. Assume 13 year lease with 5 yearly reviews
Kool4Logistics are in advanced discussions for the construction of an · Option: Option agreement for a further 10 year lease extension
additional 3,047 sqm (32,800 sqft) (SPP). Phase 2’s extension is due for · Lease expires: 30th July 2034
completion by August 2020. Upon completion, a new co terminus lease will
be established for the remainder of the term for Phase 1. · Passing Rent: €336,200 per annum (€10.25 per sqft per annum)
Bids will be requested for the entire at a guide of €12,000,000 ex VAT. Bidders · Guiding: €4,600,000 ex VAT (6.43% NIY)
will be requested to allocate what proportion of funds will be allocated to · Phase 2 payment is due in August 2020 or upon construction
Phase 1 payment (31st July 2019) and Phase 2 payment (August 2020). For the completion
avoidance of any doubt only ONE preferred bidder will be established.
Oakland International LIMITED (PARENT GUARANTOR) Established in 1998, Oakland International are UK & Ireland multi temperature supply chain specialists - A Family Owned Business Providing Logistics And Value Added Services Including Contract Packing, Tempering And Distress Load Management. Working with major UK and Irish food retail, convenience, discount, wholesale and food service markets, Oakland International’s contract packing and tempering expertise encompasses chilled, ambient and frozen foods. Established as an outsourcing contract packing partner of choice, Oakland offer a cost effective and efficient route for UK and Irish retailers via their dedicated chilled consolidation scheme which includes Aldi, SPAR, Lidl, Sainsbury’s, Tesco, Nisa and Booths. Site Area 2.98 hectares (7.37 acres) Schedule of accommodation Area Sq.m Sq.Ft RENTAL Lease Commencement Construction Completion Phase 1 Current facility 2,675 28,793 Completed Phase 1 Extension 1,867 20,099 €501,143 per annum 31st July 2019 October 2019 Phase 1 Total 4,542 48,892 Phase 2 Extension 3,047 32,800 €336,200 per annum Upon construction completion. Estimated completion Estimated August 2020 date August 2020 Total 7,589 81,692 €837,343 per annum
Sales Particulars Title
The property is being offered on the basis of Sale and Leaseback via a Long leasehold title DN164879L dated 23 August 2017 from William P. Keeling
Private Treaty process. The guide price of excess €12,000,000 ex VAT reflects and Sons Unlimited Company to Kool 4 Logistics Limited for the term of 500
a 6.43% NIY after standard costs are deducted. years.
Parent Guarantee Agent
Oakland International Limited
Financial Strength 2A: £1,500,000 to £6,999,999
Current Tangible Net Worth: £4,734,189
Turnover 2017: £20,225,177
Leaseholder
Lambert Smith Hampton
Kool4Logistics Limited 86-88 Leeson Street Lower, Dublin 2. D02 A668
Financial Strength based on Net Worth A: €350,000 to €699,999 Tel: 01 673 1400
Current Tangible Net Worth: €807,581
David Scully Nigel Kingston
dscully@lsh.ie nkingston@lsh.ie
Dataroom PSRA: 001451 / 006174 PSRA: 001451 / 004597
Further details pertaining to the sale are contained within a secure data room.
Please log onto https://dataroom.lsh.ie/OaklandInternational to register Solicitor
your interest.
Mary Casey
AMOSS Solictors
Viewing Tel: 01 212 0400
mcasey@amoss.ie
Viewings are strictly through the sole selling agent, Lambert Smith Hampton.
Please contact David Scully and Nigel Kingston for more information.
BER
Building Energy Rating: B3
BER Number: 800694184
© Lambert Smith Hampton (LSH) (and their Joint Agents where applicable) for themselves and for the Vendors or Lessors of the property whose agents they are give notice that; i) these particulars are given without responsibility of LSH or the Vendors or Lessors as a general outline only, for the
guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; ii) LSH cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any
prospective purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; iii) no employee of LSH has any authority to make or give any representation or warranty or enter into any
contract whatsoever in relation to the property; iv) VAT may be payable on the purchase price and/or rent, all figures are quoted exclusive of VAT, intending purchasers or lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; v) LSH
will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars.
PSRA Licence Number: 001451
You can also read
