Executive Summary Millennium Park comprises approximately 136 ha (336 acres) of land straddling the M7 motorway between junctions 9 and 10. Millennium Park offers a well thought out, integrated business park comprising office, enterprise, residential, health/leisure and retail uses. · · The overall lands available for sale extend A total of 6 buildings extending to approximately to approximately 136 hectares (336 acres) while 14,156 sq m (152,373 sq ft) producing an overall approximately 16.5 hectares (40.75 acres) have income of €1.62m per annum. been developed to date. The remaining lands benefit from a variety of land use zonings with the predominant zonings being existing/in-fill residential, new residential, · is intrinsic to the overall vision of the park and is based urban village, enterprise and employment. on best industry practice with respect to industry design, construction and maintenance. 2 Millennium Parks telecommunications strategy · · 94% of the existing accommodation is currently Millennium Park is strategically positioned midway occupied. along a direct link route between Naas Town Centre and the Sallins Rail Station. This provides rapid access · The overall weighted average unexpired lease for commuters to Dublin. Ease of accessibility to Naas term of the office accommodation is approximately town centre means occupiers can experience the 4.45 years. excellent facilities including hotels, restaurants, leisure facilities and park the town has to offer. · Millennium Park is located on the North West outskirts of Naas and 28km from Dublin city centre. The development comprises a fully serviced office/ technology business campus, a planned village centre and enterprise space for early stage manufacturing and service enterprises. 3 Location Johnstown Millennium Park is located adjacent to the M7 approximately 28km from Dublin City Centre. Dublin -M50 Millennium Park benefits from its accessibility to Dublin (28km) and the M50 (23km). Millennium Park affords easy access and proximity to Dublin Airport /M50/M1 and to the M9/M7/M4 national traffic arteries. Naas, as the administrative capital of Kildare with a population of 30,917 (census 2011) including its surrounding dependant environment, compliments Millennium Park with a vibrant hub complete with all the required facilities. M7 Sallins 16.5 Ha. N1 Maynooth M4 Leixlip Co. Kildare w R ail Sallins Newbridge M9 M7 NAAS Lucan Heuston ParkWest C Citywest Baldonnell Baldonn Arr o Clane Airport N2 N3 Rathcoole N81 Blessington B Millennium Park Connolly Dublin City Ballymount Tallaght 26.5 Ha. From Liverpool 77.8 Ha. 15.2 Ha. Naas Town Centre Dun Laoghaire Sandyford M50 From Hollyhead MILLENNIUM PARK NAAS, CO. KILDARE Cherrywood Bray M7 Kilcullen Cork/Limerick-M7/M8 Waterford-M9 4 5 5 Kildare/Naas Transport With facilities such as NUI Maynooth, Institute of Technology Carlow and numerous third level Dublin Institutions on the doorstep, employers based in Millennium Park find they have access to top graduates. Millennium Park’s strategic position is further enhanced by its unique accessibility and Transport Links. The table below details the connectivity of Millennium Park: Road Network Naas and its surrounding villages have a population Naas town accounts for 21,000 residents, of which 62% of 30,917 (Census 2011). Naas is the county town of are white collar workers. The population of the town Kildare and has seen substantial development in the last Millennium Park will be serviced by an Interchange off the M7, please see the dataroom for additional Millennium Park to is expected to continue growing over the coming years. information. Millennium Park is additionally serviced by a ring road network - Western Distributor Road, commuter towns in the greater Dublin area and the Currently, 125,000 people pass Millennium Park travelling enabling local traffic to bypass the town of Naas. Naas-Newbridge-Kilcullen triangle has been identified to and from work on a daily basis. The majority of this as a primary growth centre in the National Spatial commuting population consists of highly skilled individuals Strategy (NSS). who travel long distances each day to get to their development cycle. It is now one of the most important place of work. Drive time km City Centre 30 mins 28 M50 15 mins 20 Airport 40 mins 40 Naas 3 mins 2 Train Station 2 mins 1.5 Plans are in place for the provision of a Public Transport Over recent years Kildare has witnessed an increase Corridor, which will run from Sallins train station through in population with the county being one of the top choices Millennium Park and into the heart of Naas. The route will for young families putting down roots outside of Dublin. be serviced by bus initially but is immediately upgradeable to road DUBLIN Heuston Stn & Luas Red Line train or light rail. Navan N2 Road Transport Connectivity Countrywide Cherry Orchard M1 Belfast 45 mins M4 Celbridge 15 mins Millennium Park Naas Limerick Wexford Millennium Park ark k Newbridge Kildare Portarlington Waterford Clane Clondalkin M7 Bus Network Dublin City Dundrum Tallaght Blessington N11 Hazelhatch Bus Éireann operates almost 162 services daily from NA NAAS Kilcullen Cork M50 Leixlip Dublin City Wicklow Clondalkin 20 MINS Kilcock Maynooth 30 mins Galway Swords Airport Sligo Westport Lusk Ashbourne N3 Bray Naas to all major towns and cities. Bus services to Dublin Rail Network run every 15 - 30 minutes. Other bus operators provide Millennium Park is located a comprehensive and an additional 84 services. approximately 1.5km from The Park is strategically positioned along the direct which runs 52 trains a day link route between Naas town centre and the Sallins to and from Dublin. Currently, railway station. there is a bus service running SALLINS Millennium Park / NAAS from Millennium Park to the train N78 station and to Naas town. N81 Portlaoise Celbridge Sallins/Naas train station, Athy Newbridge N9 Kildare Carlow 6 7 Available Labour Force Connectivity Over the last decade, Kildare has witnessed a significant population increase. Statistical data highlights that the county is a top choice for young families putting down roots outside of Dublin. Millennium Park has state-of-the-art telecommunication services which are a critical component of the infrastructure to attract occupiers. • Active collaboration with service providers to ensure Millennium Park has: the maximum separation of services to each building. •Aresilientfibrenetworkwith14wayductingonboth 28% of Kildare’s population have a third level qualification. Such a growth in population has resulted in the expansion of a highly skilled and talented workforce in the region. This workforce explosion is a combination of the development of the young population and the inward migrationofskilledemployeesfromDublin,othercounties and overseas. Companies relocating or setting up in Millennium Park can easily tap into this large pool of skilled and motivatedemployees,whoaregreatlyattractedto sides of Millennium Parks road infrastructure and The network design lends itself to the concept of closed multi-ducting to all buildings. loops to minimise the exposure to disruption of services. • Broadband and Wireless services. • A full range of IP and Ethernet services with speeds of up to 1Gb. • Power -There is a 20MW substation less than 1 km from •AchoiceofserviceprovidersnamelyEircom,BTIreland, SmartTelecom,UPC(Chorus/NTL),Cable&Wireless, • Gas - There is a high pressure gas service in Naas Digiweb and Quantum Broadband. providedbythenationalcompany,AnBordGáis.Allsites • Tight management of access to the network infrastructure with a ‘Permit to Dig’ policy in operation. employment opportunities closer to home and improved work-life balance. “Competing in a Globalised World” - Kildare Co. Council Report 8 Millennium Park. 9 are connected to local gas and water utilities. The Opportunity Johnstown Dublin -M50 This is a once in a lifetime opportunity to acquire an established, branded development that offers immediate income flow from well-designed, modern office buildings and a range of development opportunities that can be moulded to suit the requirements of occupiers. The scale of this offering provides the opportunity to provide affordable accommodation in an already established business park anchored by a number of international The acquisition by the Department of Education of a 15 M7 acre site is a further endorsement of Millennium Park as a Work, Live , Grow location. and local occupiers. Millennium Park as a location has Sallins a competitive advantage and the ability to offer large The range of existing land use zonings covers a wide range occupiers a solution in establishing a headquarters on of potential end uses and with the upcoming submissions Dublin’s doorstep. for the new Development Plan in 2017 the timing of this sale will allow for the new purchaser to discuss their vision All business parks must be accessible by the local and with the local planners and seek to create a destination of international clients and at Millennium Park this has high quality commercial, educational, retail and residential improved further with the recent upgrade of Newlands offerings. Cross on the M7, reducing the commuting time from Dublin considerably. However, the game changer for the scheme From the outset a purchaser has an income generating is the recent grant of planning permission for the new M7 asset which can be further enhanced with active asset motorway interchange at Millennium Park which will further management. There is recent evidence of the good enhance the attractiveness of the scheme as a business demand from occupiers for this location and therein lies destination, which in turn will create a desire to reside further opportunities to develop office accommodation in the locality. to cater for these requirements. Naas Town Centre MILLENNIUM PARK NAAS, CO. KILDARE M7 11 Millennium Park Land I Existing Land Use Zoning Objectives Millennium Park extends to a total of 136 hectares (336 acres) F B Q M of which 119.5 hectares (295 acres) remains undeveloped. The table below identifies the land use zoning attributed throughout the park under the current Naas Development Plan 2011-2017. M I The consultation period relating to the draft Kildare County Development Plan 2017-2023 will commence shortly enabling Q interested parties to engage with the council and agree a strategy to further develop Millennium Park in a sustainable manner. Overview of Millennium Park Lands: Identification Description Type Size: (hectares) (acres) B Existing/Infill Residential 0.28 0.69 C New Residential 8.42 20.8 E Community & Education 8.14 20.10 F Open Space / Amenity 1.19 2.94 G Urban Village 5.88 14.52 I Agricultural 41.68 103.00 M Future Park / Greenbelt 3.21 7.93 Q Enterprise & Employment 67.2 165.98 136.0 336.00 Total 12 E Q G Q C 13 Kerry Group recently developed their industry-leading global Floor area as a % of total technology and innovation centre following the acquisition Sycamore House Occupiers Elm House of a 11.3 hectares (28 acre) site at Millennium Park, Naas. 3% 3% Chestnut House 21% Millennium Park has an impressive line up of occupiers including 27% Kerry Group, The Health Service Executive, IFS State Street, GEA, LIDL and AIB. 12% Birch House Willow House Floor area as a % of total 13% 13% Sycamore House 8% Ash House Elm House Hazel House 3% 3% Chestnut House Beech House 21% Birch House 27% Rent as a % of total 12% Sycamore House Willow House Birch House 3% 2% 13% 13% 26% Ash House Ash House 20% Hazel House office blocks, of which 4 have been Beech House are designed to facilitate flagship H.Q. style offices or can be utilised as multi–tenant buildings. The buildings are finished to a very high standard in keeping with the design and vision developed for Millennium Park. This 12% Sycamore House approximately 336 acres, 14,156 sq m Willow House 16% Elm House Birch House 3% 2% Hazel House 6% Chestnut House truly unique asset provides a total of 14% Rent as a % of total Beech House of existing buildings and a rent roll of approximately €1,620,507 pa. The potential to increase the revenue stream and implement an asset 26% management strategy will appeal Ash House 20% to developers and investors alike. * Note that there are 9 individual suites within Sycamore and Elm House included in this sale. 12% WAULT by Property (Average 4.45 years) 10 9.72 sold. The remaining 6 office blocks 6% Chestnut House 8% Millennium Park includes 10 individual Elm House 9 8 7 6.19 6 5 4 2.89 3 2.13 2 1 0 1.10 Birch House 0.99 Ash House 14% Willow House 16% Beech House Hazel House 14 15 Beech House 1.49 0.51 Hazel House Willow Chestnut Sycamore Elm House House House House Existing Accommodation Elm House There are 6 detached office blocks along with 9 office suites extending in total to approximately 14,156 sq m. HSE Sycamore House Creche Willow House Birch House Hazel House Elm House Ash House Sycamore House Beech House HSE Creche Willow House Chestnut House Birch House Hazel House Ash House Hawthorn House Chestnut House Hawthorn House 16 17 Beech House Birch House Typical Floor Plan EQ EQ Atrium 350 SVP TENANCY DETAILS Demise Tenant Lease Details Break Option Current Rent p.a. Ground Floor Kerry Group Services 10 years from Ireland Ltd 1st June 2013 31st May 2016, 31st May 2017 or 31st May 2018 €33,362 1st Floor Kerry Group Services 10 years from International Ltd 1st June 2013 31st May 2016, 31st May 2017 or 31st May 2018 €33,362 2nd Floor Kerry Group Services 10 years from International Ltd 1st June 2013 31st May 2016, 31st May 2017 or 31st May 2018 €33,362 Total €100,086 M7 Birch House comprises a high profile, three storey office building complete with an atrium designed as Birch House - FLOOR AREAS (GIA) a single tenancy office block. Floor plans are regular Floor in shape and provide flexible, efficient and attractive sq m sq ft Ground 1,282.1 13,800 First 1,274.9 13,723 Second 1,274.9 13,723 raised access floors, air conditioning and a Total 3,832.9 41,246 passenger lift. Car parking 156 spaces accommodation. The specification comprises suspended ceilings, Sycamore House Elm House M7 Birch House Hazel House Ash House Hazel House 18 Creche HSE 19 Beech House Willow House Ash House Typical Floor Plan TENANCY DETAILS Demise Tenant Lease Details Break Option Current Rent p.a. Ground Floor GEA Process Technology Ireland Ltd 20 years 1 day from 1st July 06 30th June 2021 €108,534 1st Floor GEA Process Technology Ireland Ltd 20 years 1 day from 1st July 06 30th June 2021 €108,533 2nd Floor GEA Process Technology Ireland Ltd 20 years 1 day from 1st July 06 30th June 2021 €108,534 Total €325,601 M7 Ash House comprises a three storey, high M7 specification office building with regular floor plates Ash House - FLOOR AREAS (GIA) making it efficient and attractive accommodation. Floor sq m sq ft Ground 599.2 6,323 First 587.6 6,325 Second 587.4 6,450 1,774.2 19,098 The floor plates allow for multi-tenanted occupation. The specification comprises suspended ceilings, raised access floors, air conditioning and a passenger lift. Total Car parking Sycamore House Elm House Creche HSE Ash House 81 spaces Hazel House 20 21 Birch House Hazel House Beech House Willow House Beech House Typical Floor Plan TENANCY DETAILS Demise Tenant Ground Floor SOLD 1st Floor Horse Sport Ireland Ltd Lease Details 6 years from 1st January 2011 Break Option Current Rent p.a. n/a €65,250 2nd Floor Lidl Ireland GMBH 10 years from Tenant may break 1st January 2009 at the end of each year on 6 months notice €156,000 Total €221,250 M7 Beech House comprises a three storey office building. This building offered investors the Beech House - FLOOR AREAS (GIA) opportunity to buy on a floor by floor basis Floor sq m sq ft First 588.0 6,329 Second 590.1 6,352 1,178.1 12,681 Car parking 54 spaces or as a whole office block. In this instance the Ground Floor has been sold. The floor plates allow for multi-tenanted occupation. The specification comprises suspended ceilings, Total Sycamore House Elm House M7 Creche HSE Beech House raised access floors, air conditioning and Birch House Ash House a passenger lift. 22 Hazel House 23 Hazel House Willow House Hazel House Typical Floor Plan TENANCY DETAILS Demise Tenant Lease Details Break Option Current Rent p.a. Ground Floor SGS Ireland Ltd 5 years from At the expiry of any 1st December year on 3 months 2012notice €61,550 1st Floor Allied Irish Banks PLC 10 years from 2nd April 2012 1st April 2017 €77,292 2nd Floor Rentokil Initial Ltd 20 years 1 day from 28th November 2005 27th November 10 or 27th November 2016 €123,169 Total €262,011 M7 Comprising of a 3 storey building Hazel House has regular floor plates which offer flexible, efficient and Hazel House - FLOOR AREAS (GIA) attractive accommodation. The central toilet block Floor sq m sq ft Ground 599.6 6,328 First 588.2 6,331 Second 587.9 6,454 and entrance lobby make it ideal as a multi-tenanted building. The specification comprises suspended ceilings, raised access floors, air conditioning and Total 1,775.7 19,113 a passenger lift. Car parking 80 spaces Sycamore House M7 Elm House Creche HSE Birch House Beech House Ash House Hazel House 24 25 Willow House Hazel House Willow House Typical Floor Plan TENANCY DETAILS Demise Tenant Lease Details Break Option Ground Floor Osberstown Developments Ltd Ground Floor In legals with OPW to restructure IAASA lease Current Rent p.a. 1st Floor Lidl Ireland GMBH 3 years from 1st January 2015 31st December 2015 or monthly thereafter on giving one months notice €78,744 2nd Floor Commissioner of Public Works in Ireland 12th September 2015 €119,163 20 years 1 day from 13th September 2005 Total Willow House comprises a three storey, high M7 specification office building. The rectangular floor Willow House - FLOOR AREAS (GIA) plans are regular in shape and provide flexible, Floor sq m sq ft Ground 592.1 6,337 First 587.4 6,323 Second 588.7 6,373 1,768.2 19,033 efficient and attractive accommodation. The built in adaptability allows occupiers to vary layouts as working practices and needs change. The specification comprises suspended ceilings, Total raised access floors, air conditioning and Car parking €197,907 Sycamore House Elm House M7 Creche HSE 80 spaces Birch House a passenger lift. Hazel House Beech House Ash House 26 27 Hazel Willow House Chestnut House HD Typical Floor Plan SP SP HD SP SP TENANCY DETAILS Demise Tenant Lease Details Break Option Current Rent p.a. Ground Floor Oilfield Solutions Limited 10 years from 13th April 2015 12th April 2020 €125,949 1st Floor International Fund Services (Ireland) Ltd 10 years from 30th May 2013 n/a €187,860 2nd Floor International Fund Services (Ireland) Ltd 25 years from 2004 n/a Total M7 €194,563 €428,372 Sycamore House M7 Elm House Creche HSE This L-shaped property comprises a three storey office building extending to a Gross Internal Floor Chestnut House - FLOOR AREAS (GIA) Area of 2,941 sq m in total. Internally, the property Floor sq m sq ft Ground 984.2 10,497 First 981.4 10,564 Second 975.2 10,594 is laid out to provide open plan office accommodation throughout. Toilet facilities are provided at each level. The specification comprises suspended ceilings, raised access floors, air conditioning and Total 2,940.8 31,655 a passenger lift. Car parking 240 spaces Birch House Hazel House Ash House Chestnut House Hazel House 28 29 Beech House Willow House Own Door Units Sycamore House Typical Floor Plan Ground Floor Suite 1B Suite 1C Suite 2A Suite 2B Suite 2C 98.5 sq m Suite 3A Suite 3B Suite 3C Suite 4A Suite 4B 98.5 sq m Suite 4C 98.4 sq m Suite 5A Suite 5B 98.4 sq m Suite 5C 98.3 sq m Suite 6A Suite 6B Suite 6C Units included in sale TENANCY DETAILS Sycamore House is a 3 storey detached office building comprising self contained office suites. Units M7 2C / 4B & 4C / 5B & 5C are included in the current Own Door Units Sycamore House sale process. The building is rectangular in shape with common circulation/escape cores at each end. along the front elevation. Second Floor Suite 1A Units Sold These are linked by an external terrace running First Floor M7 Elm House Creche The specification comprises suspended ceilings, HSE raised access floors and air conditioning. Birch House Hazel House Willow House Demise Tenant Lease Details Suite 2C Jason Owens & Roisin Brady 2 years from 13th n/a November 2007 Suites 4B & 4C Vacant Current Rent p.a. €22,500 Suites 5B IWEA Limited & 5C 10 years from n/a€30,000 16th January 2009 Total Beech House Ash House 30 Break Option 31 €52,500 Own Door Units Elm House Typical Floor Plan Ground Floor Suite 1B Suite 1C Suite 2A Suite 2B 98.8 sq m Suite 2C 98.6 sq m Suite 3A Suite 3B Suite 3C Suite 4A Suite 4B Suite 4C Suite 5A Suite 5B 98.7 sq m Suite 5C 99.8 sq m Suite 6A Suite 6B Suite 6C Units included in sale TENANCY DETAILS Elm House is a 3 storey detached office building comprising self contained own door units. Demise M7 The building is rectangular in shape with common circulation/escape cores at each end. These are linked by an external terrace running along the front in the current sale process. Second Floor Suite 1A Units Sold elevation. Units 2B & 2C / 5B & 5C are included First Floor M7 The specification comprises suspended ceilings, raised access floors and air conditioning. Sycamore House Own Door Units Elm House Creche HSE Birch House Hazel House Willow House Tenant Lease Details Current Rent p.a. Suites 2B & 2C Voice Engineering Ireland Ltd 10 years from 31st October 2018 1st November 2013 €21,320 Suite 5B SGS Ireland Ltd 3 years 4 months and 9 days from 1st October 2013 €11,459 Suite 5C Total n/a Vacant Beech House Ash House 32 Break Option 33 €32,779 Town Planning The subject lands are located within the “Naas Northwest Quadrant” which has been designated by Kildare County Council as the key location for the strategic future expansion of Naas town. The lands available for sale encompass a variety of zonings under the Naas Development Plan 2011-2017 which include; Solicitors SHEEHAN & COMPANY SOLICITORS New Residential, Infill Residential, Enterprise & Employment, Urban Village, Community & Education, Open Space / Amenity, Sheehan & Company Solicitors Mel Ferguson Future Park / Greenbelt and Agricultural 1 Clare Street T +353 1 661 6922 Dublin 2 [email protected] An independent planning report has been prepared by RPS Planning & Environmental which is available within the project data-room. Services An independent services report has been prepared by ARUP which is available within the project data-room. www.sheehanandco.ie Selling Agents Tenancies Lease details/summaries and contracts are available within the project data-room. Viewing Strictly by appointment with the sole agents, CBRE. VAT Further information is provided within the project data-room, however we would advise all interested parties to make their own VAT enquiries with their advisors. Title Further information is provided within the project data-room. Estate Management & Service Charge Further information is provided within the project data-room. Data Room CBRE Connaught House 1 Burlington Road Dublin 4 www.cbre.ie Willie Norse Mark Smyth T +353 1 618 5529 T +353 1 618 5567 M +353 86 299 6627 M +353 86 271 9270 [email protected] [email protected] Wesley Rothwell Peter Garrigan T +353 1 618 5548 T +353 1 618 5796 M +353 87 293 8598 M +353 87 263 6487 [email protected] [email protected] A data-room containing legal and tenancy documents and property information is available at www.millenniumpark.ie For further information please contact the sole selling agents. DISCLAIMER: CBRE These particulars are issued by CBRE Ireland on the understanding that any negotiations relating to the property are conducted through them. While every care has been taken in preparing them, CBRE 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 CBRE Ireland, nor any of their employees have any authority to make any or give any representation or warranty in relation to the property.
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