Manor Mills_16pp Brochure

MANOR MILLS
SHOPPING CENTRE
1 MANOR MILLS MAYNOOTH // CO. KILDARE
MAYNOOTH // CO. KILDARE

2 MANOR MILLS MAYNOOTH // CO. KILDARE

INVESTMENT
CONSIDERATIONS
FOR SALE BY PRIVATE TREATY
TENANTS NOT AFFECTED
FREEHOLD
Modern covered
shopping centre
extending to
10,851 SQ. M.
(116,796 SQ. FT.)
and forming the
PRIME RETAIL PITCH
in Maynooth
town centre
Key anchor
tenants include:
DUNNES STORES,
ELVERYS,
HICKEYS PHARMACY,
TIGER
AND EASON
Other national
retailers include:
HOLLAND & BARRETT,
VODAFONE,
CARRIG DONN
MEXX, KBC AND
CARPHONE
WAREHOUSE
PRIME RETAIL PITCH
in Maynooth Town Centre
KEY TENANTS
Benefits from
500 DEDICATED
UNDERGROUND CAR
PARKING SPACES
NUMEROUS ASSET
MANAGEMENT
OPPORTUNITIES
TO INCREASE
INCOME RETURN
70.5% OF THE
CURRENT INCOME
is secured to
national /multinational
retailers
50.2%
of the current income
is secured for greater
than 5 years
Weighted average
unexpired lease term
of 12.03 YEARS (no
breaks) 8.64 YEARS
(including breaks)
95%
occupancy by
floor space
The property
currently generates
a Net Operating Income
(NOI) of €1,229,228
per annum
Offers sought in
excess of €13.4M
reflecting a net initial
yield of 8.78% assuming
standard purchasers
costs of 4.46%
GROSS ANNUAL INCOME
€1,33M
MANOR MILLS MAYNOOTH // CO. KILDARE 3

WHY INVEST IN
IRISH RETAIL?
RETAIL - INDEXED RENTAL GROWTH 1994 - 2016
The outlook for the retail investment market is positive, underpinned
by strong economic conditions and robust market fundamentals.
350
300
GROWING ECONOMY
The Irish economy grew by 7.8% in
2015 making it the fastest growing
economy in the European Union for the
second successive year. The European
Commission is forecasting further
growth of 4.9% this year and 3.7% in
2017, exceeding the 1.6% forecast for
the euro zone as a whole.
FALLING
UNEMPLOYMENT
A core feature of the economic recovery
lies in the continued improvements in
the Irish labour market. The seasonally
adjusted unemployment rate for May
2016 stood at 7.8%, down from 9.6%
a year earlier and well below the
Eurozone unemployment rate, which
stood at 10.2% as of April 2016.
INCREASING
RETAIL SALES
Figures from the CSO show that the
volume of retail sales increased by 0.8%
in April 2016 compared to the previous
month while there was an increase of
5.1% in the annual figure.
4 MANOR MILLS MAYNOOTH // CO. KILDARE
RISING RENT AND
CAPITAL VALUES
The latest MSCI/ IPD Property Index
showed annualised total returns for
retail of 21.7% in the 12 months to Q1
2016 with income growth of 1.2% and
capital growth of 2.0% over the first
three months of the year. The opening
quarter saw the retail sector overtake
the office sector as the most sought
after asset class. Retail investment
totalled €252 million in quarter one,
accounting for 35% of overall spend.
IMPROVING
OCCUPIER DEMAND
There are a number of active
retailers looking for additional space
including Skechers, Boots, Dealz,
Tiger, Sosterene Grene, Cex, Iceland,
Starbucks, H&M, Bestseller and Quiz.
250
200
150
100
50
700
600
500
400
300
200
100
0
0
Dec-94
Sep-95
Dec-94
Sep-95
Jun-96
Mar-97
Dec-97
Sep-98
Jun-99
Mar-00
Dec-00
Sep-01
Jun-02
Mar-03
Dec-03
Sep-04
Jun-05
Mar-06
Dec-06
Sep-07
Jun-08
Mar-09
Dec-09
Sep-10
Jun-11
Mar-12
Dec-12
RETAIL - INDEXED CAPITAL RETURNS 1994 - 2016
Jun-96
Mar-97
Dec-97
Sep-98
Jun-99
Mar-00
Dec-00
Sep-01
Jun-02
Mar-03
Dec-03
Sep-04
Jun-05
Mar-06
Dec-06
Sep-07
Jun-08
Mar-09
Dec-09
Sep-10
Jun-11
Mar-12
Dec-12
Sep-13
Jun-14
Mar-15
Sep-13
Jun-14
Mar-15
Dec-15
Dec-15

MANOR MILLS MAYNOOTH // CO. KILDARE 5

TO GALWAY/SLIGO
Grand Canal
Maynooth Business Campus
TO DUBLIN
Train Line
LIDL
M4
Carton Retail Park
TESCO
Main Street
Train Station
McDonald’s
NUI Maynooth - South Campus
Saint Patrick’s College
Maynooth Castle
Bicentenary Garden
Saint Mary’s Church
ALDI
Maynooth Post Primary School
NUI Maynooth - North Campus
For illustrative purposes only. Not to scale.
6 MANOR MILLS MAYNOOTH // CO. KILDARE Train Line Grand Canal M4 Main Street

LOCATION
N2 / M2
AIRPORT
N3 / M3
N1 / M1
MAYNOOTH IS A VIBRANT EXPANDING UNIVERSITY TOWN
LOCATED APPROXIMATELY 23 KM FROM DUBLIN
MAYNOOTH
4
CELBRIDGE
LEIXLIP
CASTLEKNOCK
LUCAN
N4
CITY
CENTRE
BELFAST
For illustrative purposes only. Not to scale.
N7 / M7
Accessed via the M4 motorway on the
Dublin/Galway road, Maynooth is located
adjacent to one of the main national
transport corridors linking the east and
west of the country. All other major
road networks are accessible via the
M50 which is a 15 minute drive away.
Excellent transport links include regular
rail and bus services to Dublin
TRAIN
city centre.
Maynooth is part of the greater Dublin
metropolitan area and classed as a Large
Growth Town under the National Spatial
Strategy. The town acts as an important
self-sustaining regional economic driver
for the greater Dublin area, capitalising
on its international connectivity and highquality
connections to Dublin City Centre,
whilst also supporting and servicing a
wider local economy.
N81
The town is home to the National University of Ireland with a
campus of 10,575 students, It is also home to Ireland’s National
Seminary and Pontifical University and remains Ireland’s only
University town. There is a focus on maintaining and further
developing the established synergy between the University and
major employers in the area. Intel and Hewlett-Packard both have
their EMEA business campus’ just outside the town and along
with the University and Maynooth Business Campus, they are
the largest employers in Maynooth. Other well-known facilities
include the 4-star Carton House Spa and Golf Hotel and the world
renowned K Club, golf courses, home of the Ryder Cup 2006.
N11
TRAIN
CORK
GALWAY
TOWN CENTRE
LOCATION
LIMERICK
MAYNOOTH
DUBLIN
For illustrative purposes only. Not to scale.
MANOR MILLS MAYNOOTH // CO. KILDARE 7

10 & 15 Minute Drivetimes from Manor Mills SC, Maynooth
DEMOGRAPHICS
Manor Mills Shopping Centre catchment
extends to the north, south, east
and west of Maynooth town centre.
According to the 2011 Census, the
population of this bespoke catchment
is 40,438 persons, having increased by
14.87% since 2006.
POPULATION GROWTH
BETWEEN 1991 - 2011
26,122
29,181
35,202
40,438
1991 1996 2006 2011
10 min drive.
15 min drive.
For illustrative purposes only. Not to scale.
8 MANOR MILLS Manor MAYNOOTH Mills SC // CO. KILDARE
10 Minute Drivetime

The information is based on
15min. DRIVETIME
AVERAGE
HOUSEHOLD
2.7 PERSONS
ESTIMATED ANNUAL HOUSEHOLD
EXPENDITURE IN CATCHMENT AREA*
of catchment 59%
are top tier
social class of
professional,
managerial,
technical and nonmanual
workers
POPULATION
of this bespoke
catchment
SINCE 2006
15%
13,330
households within
catchment area
€120M
Housing
€199M
Misc. Goods
and Services
€97M
Food
€95M
Transport
40,438
€36M
€30M €25M
€24M
€12M
AVERAGE
WEEKLY SPEND
55%
employed
Alcoholic Drink
and Tobacco
Clothing
& Footwear
Fuel
& Light
Durable
Household
Goods
Non-Durable
Household
Goods
€921
16%
retired or
dedicated to
home duties
17%
students
€638M
TOTAL
EXPENDITURE
*Household Expenditure is based on the 2009/2010 Household Budget Survey and
is calculated using the Household Counts and Social Class Data from Census 2011.
MANOR MILLS MAYNOOTH // CO. KILDARE 9

DESCRIPTION
Manor Mills Shopping Centre occupies a prominent position within Maynooth
Town Centre adjacent to the town’s Main Street and Maynooth University. It
benefits from dual frontage onto both Mill Street to the east and the Kilcock
Road to the north.
The Centre comprises a purpose built single level trading shopping centre
and forms part of a wider mixed use commercial and residential development
the balance of which is not included in the sale. Opened in 2005, the property
comprises 10,851 sq m (116,796 sq ft) of retail accommodation arranged
around an L shaped covered shopping mall. Anchored by a 6,675 sq m (71,856
sq ft) Dunnes Stores the scheme provides a further 26 retail units, 4 kiosks
and a large restaurant unit. The Dunnes Stores unit has been sold off on a
long leasehold basis. The Centre benefits from a 500 space basement car park
which is accessed off Kilcock Road.
Other retailers within the scheme include a diverse mix of local, national and
international retailers including: Eason, Elverys, Holland & Barrett, Carphone
Warehouse, KBC Bank and Hickeys Pharmacy.
The centre currently benefits from a weekly footfall in excess of 50,000 people.
10 MANOR MILLS MAYNOOTH // CO. KILDARE

ACCOMMODATION
FLOOR AREA
UNIT Sq m Sq ft
Anchor 6675.61 71,856
Unit 1 79.00 850
Unit 2 235.40 2,534
Unit 3 153.70 1,654
Unit 4 154.10 1,658
Unit 5 153.70 1,654
Unit 6 154.70 1,664
Unit 7 153.20 1,648
Unit 8 146.00 1,572
Unit 9 170.00 1,830
Unit 10 188.30 2,027
Unit 11 234.80 2,527
Unit 12 70.60 760
Unit 13 101.00 1,087
Unit 14 258.20 2,778
Unit 15 42.40 456
Unit 16 298.30 3,211
Unit 17 138.30 1,490
Unit 18 105.10 1,131
Unit 19 102.20 1,101
Unit 20 73.00 786
Unit 21 79.40 855
Unit 22 116.70 1,256
Unit 23 50.00 538
Unit 24 54.20 583
Unit 25 24.10 259
Unit 26 29.00 313
Unit 27 341.50 3,676
Kiosk 1 108.70 1,170
Kiosk 2 19.30 208
Kiosk 3 6.50 70
Kiosk 4 26.48 285
MGNT1 63.48 683
TOTAL 10,607 114,170
FLOOR AREA
UNIT Sq m Sq ft
Store 1 14.00 150.68
Store 2 15.00 161.45
Store 3 20.00 215.28
Store 4 27.00 290.60
Store 5 27.00 290.60
Store 6 21.50 231.40
Store 7 22.50 242.17
Store 8 20.00 215.26
Store 9 23.00 247.55
Store 10 25.00 269.10
Store 11 19.00 204.50
Store 12 10.00 107.63
TOTAL 244 2,626
1....... Player 1 Gaming
2....... Carraig Donn
3....... Divine
4....... To Let
5....... Paul Byron Shoes
6....... Mexx
7....... To Let
8....... Holland & Barrett
9....... Tiger
10..... KBC Bank
11..... Hickey’s Pharmacy
12.....Mullins &
Henry Opticians
13..... Manic Clothing
14..... Elverys Sports
15..... Click
16..... Eason
17.....O’Brien’s
Sandwich Bar
18..... Zeba Hairdressing
19..... To Let
20..... Vodafone
21..... The Butchers Block
MANAGEMENT
SUITE
18
26
21
K1
1 2 3 4 5 6 7 8 9
K4
K3
K2
25 19 10
23
27
11 12 13
22..... To Let
23.....Carphone Warehouse
24..... Sorrento Boutique
25.....Charles Barbers /
Key Cutting
26..... Maynooth Flowers
27..... Chill Restaurant
K1..... The Bagel Factory
K2..... Jump Juice
K3..... Scooples
K4..... K&N Events
15
14 16 17 20
MANOR MILLS MAYNOOTH // CO. KILDARE 11
22
24
For illustrative purposes only. Not to scale.

INCOME
PROFILE
TOP TEN TENANTS
TENANT RENT € %
1 Hickeys Pharmacy €205,000 16.68%
2 Eason €90,000 7.32%
3 Paul Byron Shoes €78,107 6.35%
4 Chill Downtown Restaurant €75,650 6.15%
5 Elverys Intersport €75,000 6.10%
6 Carrig Donn €60,000 4.88%
7 O’ Briens Sandwich Bar €59,422 4.83%
8 Holland & Barrett €57,837 4.71%
9 Mullins & Henry Opticians €53,213 4.33%
10 Zeba Hairdressing €53,000 4.31%
Remainder €421,999 34.33%
*Based on NOI €1,229,228 100%
TENANCY OVERVIEW
Manor Mills Shopping Centre is let
in accordance with the tenancy and
accommodation schedule available on
the data room.
The centre currently generates a gross
annual income of €1,330,210 from 33
tenants/licensees. After deduction of
all occupational shortfalls, the centre
produces a net operating income of
€1,229,228 per annum.
The majority of leases are effectively
on full repairing and insuring terms
by means of a comprehensive service
charge. In addition, seven tenancies
incorporate some form of base rent
and turnover provision within
their lease.
Manor Mills boasts a strong tenant
line-up with 70% of the income
secured to international/national
brands. The centre has a weighted
average unexpired lease term (WAULT)
of 8.64 years to the earlier of break/
expiry based off the net rent.
RENT BY RETAILER TYPE
19.4%
29.5%
51.1%
INCOME BY TERM CERTAIN
SPACE OCCUPIED
National
Local
International
49.8%
50.2%
10+ years
0-5 years
95%
110,891 Sq. Ft.
12 MANOR MILLS MAYNOOTH // CO. KILDARE

ASSET MANAGEMENT
INITIATIVES
CAR PARK
The 500 space centre car park is currently free of
charge. In May 2016 Kildare County Council adopted
the Maynooth Pay Parking Bye-Laws introducing paid
parking into the town. This may provide an opportunity
to generate additional income via the introduction of
paid parking.
VACANT UNITS
Letting units 4, 7, 19 and 22 to increase income and
minimise Landlord shortfalls. A number of Food and
Beverage occupiers are currently on the expansion trail
and such an addition would assist in increasing dwell
time and footfall within the centre.
IMPROVE COVENANT PROFILE
29.53% of current income is let to local covenants.
Opportunity to improve tenant covenant profile by
replacing these with national/international brands.
FUTURE DEVELOPMENT
Look at extending and creating additional leisure/food
uses units onto the courtyard at the south-west of the
site (subject to planning permission)
IMPROVE WAULT
20% of the current income has a term certain of less
than 18 months. Opportunity to increase the WAULT by
re-gearing existing leases or new lettings.
MANOR MILLS MAYNOOTH // CO. KILDARE 13

14 MANOR MILLS MAYNOOTH // CO. KILDARE

ADDITIONAL
INFORMATION
SERVICE CHARGE
The operating costs of Manor Mills
Shopping Centre are covered by a
comprehensive service charge. An
annual service charge budget is
based on the landlords reasonable
estimate of the likely amount of service
charge expenditure to be incurred
throughout the forthcoming year. The
apportionment of the service charge
between tenants is calculated on the
basis of the proportion that the floor
area of an individual demised unit
bears to the total floor area of all
applicable units forming part of Manor
Mills Shopping Centre. The gross
service charge budget for 2016 totals
€1,021,484. Further details are available
within the data room.
TENURE
Freehold.
PLANNING
The property is zoned A1 “Town Centre”
under the Maynooth Local Area Plan 2013
– 2019. The zoning is outlined as follows:
“To provide for the development and
improvement of appropriate town centre
uses including retia, commercial, office,
residential, amenity and civic use.”
VAT
Further information upon request.
BER
BER B2-C2
Full Building Energy Rating certificate
available upon request.
DATA ROOM
A data room containing legal documents
and background information is available
at www.ManorMillsSC.com. Access to
the data room is restricted and will be
granted by DTZ Sherry FitzGerald to
interested parties on the verification of
information and signing of a NDA.
PROPOSAL
Offers are sought in excess of
€13,400,000 reflecting a net initial yield
of 8.78% assuming standard purchasers
costs of 4.46%.
VIEWINGS
All viewings are strictly by appointment
through the sole selling agents.
MANOR MILLS MAYNOOTH // CO. KILDARE 15

MANOR MILLS
SHOPPING CENTRE
164 Shelbourne Road, Ballsbridge Dublin 4
T: +353 1 639 9300
Clive Roche
+353 (1) 639 9202
clive.roche@dtz.ie
PSRA No.002222
Karl Stewart
+353 (1) 639 9347
karl.stewart@dtz.ie
Jane Dolan
+353 (1) 639 9225
jane.dolan@dtz.ie
SOLICITOR
Maples and Calder Solicitors
75 St Stephens Green,
Dublin 2.
Andrew Nagle
+353 (0)1 619 2701
andrew.nagle@maplesandcalder.com
Disclaimer:
Conditions to be noted: 1. These particulars do not constitute an offer or contract or any part thereof and none of the statements contained in the particulars as to the property
to be relied on as a statement or representation of fact. 2. The vendor does not make or give, nor is the Agent(s) or its staff authorised to make or give any representation or
warranty in respect to this property. 3. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and 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 himself/herself
by inspection or otherwise as to the correctness of each of them. 4. In the event of any inconsistency between these particulars and the contract of sale, the latter shall prevail.
5. The terms, Vendor and Purchaser, where the context required shall be deemed to refer to Lessor and Lessee and Landlord and Tenant respectively. 6. Prices are quoted exclusive
of VAT (unless otherwise stated) and the purchaser/lessee shall be liable for any VAT arising on the transaction. 7. DTZ Sherry FitzGerald Registration Number: 002222.
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