Primacy Portfolio

Investment Overview

 

Executive Summary

  • The Primacy Portfolio is for sale by Private Treaty on the instructions of the Vendors
  • We are inviting offers for the entire portfolio as a single lot at a guide price in excess of €28.5 million (Twenty-Eight Million and Five Hundred Thousand Euro) subject to contract and exclusive of VAT, which reflects an attractive Initial Yield of approximately 7.41% for the portfolio, based on a Net Operating Income of €2.29m
  • Offers for individual branches will be considered.
  • All 17 assets are let to The Governor and Company of the Bank of Ireland on full repairing and insuring (FRI) leases for 25 years from July 2007
  • Bank of Ireland Whitehall and Limerick City are the only assets that have break options in 2022
  • Strong portfolio WAULT of 14.39 years to expiry and 12.98 years to break
  • For the avoidance of doubt, please note this is an investment sale, therefore all tenants are unaffected

Cappocksgreen, Co. Louth, A92 NY02, Ireland

Cappocksgreen, Co. Louth, A92 NY02, Ireland
Cappocksgreen, Co. Louth, A92 NY02, Ireland
Direction

Arklow, Co. Wicklow, Y14 H2D8, Ireland

Arklow, Co. Wicklow, Y14 H2D8, Ireland
Arklow, Co. Wicklow, Y14 H2D8, Ireland
Direction

Athy, Co. Kildare, R14 HK54, Ireland

Athy, Co. Kildare, R14 HK54, Ireland
Athy, Co. Kildare, R14 HK54, Ireland
Direction

Abbeyhalfquarter, Ballina, Co. Mayo, F26 KT73, Ireland

Abbeyhalfquarter, Ballina, Co. Mayo, F26 KT73, Ireland
Abbeyhalfquarter, Ballina, Co. Mayo, F26 KT73, Ireland
Direction

Drumfinn, Dublin, Co. Dublin, D10 PW29, Ireland

Drumfinn, Dublin, Co. Dublin, D10 PW29, Ireland
Drumfinn, Dublin, Co. Dublin, D10 PW29, Ireland
Direction

Raheny - St. Assam, Dublin, Co. Dublin, D05 CK70, Ireland

Raheny - St. Assam, Dublin, Co. Dublin, D05 CK70, Ireland
Raheny - St. Assam, Dublin, Co. Dublin, D05 CK70, Ireland
Direction

Townparks, Skerries, Co. Dublin, K34 FH22, Ireland

Townparks, Skerries, Co. Dublin, K34 FH22, Ireland
Townparks, Skerries, Co. Dublin, K34 FH22, Ireland
Direction

Edenderry, Co. Offaly, R45 FP65, Ireland

Edenderry, Co. Offaly, R45 FP65, Ireland
Edenderry, Co. Offaly, R45 FP65, Ireland
Direction

Fermoy, Co. Cork, P61 Y273, Ireland

Fermoy, Co. Cork, P61 Y273, Ireland
Fermoy, Co. Cork, P61 Y273, Ireland
Direction

Deanscurragh, Longford, Co. Longford, N39 AV20, Ireland

Deanscurragh, Longford, Co. Longford, N39 AV20, Ireland
Deanscurragh, Longford, Co. Longford, N39 AV20, Ireland
Direction

Mallow, Co. Cork, P51 Y314, Ireland

Mallow, Co. Cork, P51 Y314, Ireland
Mallow, Co. Cork, P51 Y314, Ireland
Direction

Cloonbrackna, Roscommon, Co. Roscommon, F42 X803, Ireland

Cloonbrackna, Roscommon, Co. Roscommon, F42 X803, Ireland
Cloonbrackna, Roscommon, Co. Roscommon, F42 X803, Ireland
Direction

Loughrea, Co. Galway, H62 YE36, Ireland

Loughrea, Co. Galway, H62 YE36, Ireland
Loughrea, Co. Galway, H62 YE36, Ireland
Direction

Templeshannon, Enniscorthy, Co. Wexford, Y21 PK06, Ireland

Templeshannon, Enniscorthy, Co. Wexford, Y21 PK06, Ireland
Templeshannon, Enniscorthy, Co. Wexford, Y21 PK06, Ireland
Direction

Demesne, Co. Tipperary, E53 XY64, Ireland

Demesne, Co. Tipperary, E53 XY64, Ireland
Demesne, Co. Tipperary, E53 XY64, Ireland
Direction

Whitehall, Dublin, Co. Dublin, D09 TN52, Ireland

Whitehall, Dublin, Co. Dublin, D09 TN52, Ireland
Whitehall, Dublin, Co. Dublin, D09 TN52, Ireland
Direction

Limerick, Co. Limerick, V94 KT98, Ireland

Limerick, Co. Limerick, V94 KT98, Ireland
Limerick, Co. Limerick, V94 KT98, Ireland
Direction

Locations

17 Locations Across Ireland

County Town/Suburb Street Post code
Louth Ardee Castle St. A92 NY02
Wicklow Arklow Main St. Y14 H2D8
Kildare Athy Emily Sq. R14 HK54
Mayo Ballina Pearse St.(24) F26 KT73
Dublin Ballyfermot Ballyfermot Rd. (312) D10 PW29
Dublin Raheny Howth Rd. (566) D05 CK70
Dublin Skerries Strand St. (93) K34 FH22
Offaly Edenderry Main St. R45 FP65
Cork Fermoy Patrick St. P61 Y273
Longford Longford Main St. (68) N39 AV20
Cork Mallow Bank Place (150) P51 Y314
Roscommon Roscommon Harrison Hall, Market Sq. F42 X803
Galway Loughrea Main Street H62 YE36
Wexford Enniscorthy  Abbey Square Y21 PK06
Tipperary Roscrea Castle St. Lwr. E53 XY64
Dublin Whitehall Swords Road D09 TN52
Limerick Limerick City O’ Connell Street V94 KT98

 

 

Bank of Ireland was established in 1783 and is regarded as the leading pillar bank in the Republic of Ireland. They are also one of the Country’s largest employers with over 11,000 employees.

Bank of Ireland has shares listed on the main markets of the Irish Stock Exchange and the London Stock Exchange, the Irish government also holds a 14% stake in the company. The bank offers a diverse array of services including retail, insurance, corporate and commercial.

Bank of Ireland maintains an extremely strong domestic market position as the most predominant retail and commercial banking institution in Ireland. According to the bank’s 2016 End of Year Annual Review published in February 2017, Bank of Ireland made a pre-tax profit was in excess of €1 billion and had over €123 billion in total assets. Standard and Poors (S&P) revised their long-term credit rating of Bank of Ireland to BBB- with a positive outlook.

Portfolio sale

We are inviting offers for the entire portfolio as a single lot at a guide price in excess of €28.5 million (Twenty-Eight Million and Five Hundred Thousand Euro) subject to contract and exclusive of VAT, which reflects an attractive Initial Yield of approximately 7.41% for the portfolio, based on a Net Operating Income of €2.29m. Offers for individual branches will be considered.

Guide Price

€28,500,000

 

Rental Income

€2,290,000
Brian Gaffney

Brian Gaffney

Associate Director

+353 (0) 1 531 1032

bg@murphymulhall.ie

Jane Dolan

Jane Dolan

Associate Director

 +353 (0) 1 639 9225

 jane.dolan@cushwake.ie

Get In Touch

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25 Priory Office Park,
Stillorgan, County Dublin

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