An Exceptional Student / Aparthotel Accommodation Investment Opportunity

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SECTION 1 - INTRODUCTIONSwuite - The Next Level in Student Living for Ireland 4The Market 6Bed Space Supply and Demand 8

SECTION 2 - DEVELOPMENTLocation of Swuite Bohermore 9Aparthotel 10 Galway: A Few Facts 12The Building 14Quality 17Facilities and Fit-out 18Suite Types and Layouts 22Building Floor Plans 24

SECTION 3 - INVESTMENTInvestment: Sale & Leaseback 26Payments Schedule 27Investment Timeline 28Pre-Emption Rights 31Management Company 32

FAQ’s 34

contents

Sale & Lease Back of high quality aparthotel and student accommodation at a net annual rental return of 5.5% in Galway City Centre.

INVESTMENT OPPORTUNITY

5.5% NET ANNUAL

RENTAL RETURN

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The Next Level in Student Living in Ireland

SECTION 1 - INTRODUCTIONFollowing extensive market research on the student accommodation market in Ireland, UK and mainland Europe Iveragh Group has developed a unique brand that combines the pleasantness of ‘sweet’ with the homeliness of an apartment ‘suite’ to create the brand ‘swuite’. The brand has been developed so that all of our residents can avail of the highest quality living and at affordable rates while also delivering assured yield generation to our investors.

Iveragh Group is actively developing the swuite brand in Dublin and Galway and in 2017 will have 216 beds under construction. Swuite Bohermore, Galway is an innovative development designed to address the need for high quality student and self-catering holiday let units in the city. Swuite will also manage and operate each of our residences to the same high standards all year around. Swuite is dedicated to designing, developing and delivering the very finest student and aparthotel residences in Ireland.

This boutique style facility offers high quality and professionally managed aparthotel and student apartments and ancillary facilities specifically designed for use by undergraduates, post graduates, visiting academics and visitors. It comprises 77 self-contained units over 4 floors in the attractive residential area of Bohermore. The suites are provided fully serviced offering comfort, security and luxury of a fully furnished room whilst also benefitting from community living in the shared common / social spaces

and terrace areas. Our generous size rooms cater for single occupancy (during the academic year) and are all fitted out with private ensuite bathrooms, ample wardrobe and under-bed storage, a double bed and kitchenette. Dedicated universal access suites are also available.

The facility is close to the city centre and all third level institutions in Galway city and will have a special appeal to international students looking to study and reside in secure high quality accommodation. During the summer months’ the facility will act as an aparthotel in order to satisfy the huge demand for hotel beds in the Galway city area. The facility is within walking distance of the city centre and all the city’s main attractions.

To help ensure that all of our residents have an enjoyable stay at Swuite Bohermore our on-site Operations Manager and the house management team are trained to assist in meeting our resident’s needs. Our reception is managed during office hours after which our live-in manager takes over to ensure our residence is secure and our residents safe. Investors will enjoy the benefit of a fully managed investment in a luxury purpose built aparthotel / student accommodation in the heart of Galway city. Swuite Bohermore will quickly achieve full occupancy and deliver stable rental returns.

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The Higher Education Authority (HEA) has estimated that

25,000 new beds for students are needed nationwide and the

Union of Students in Ireland (USI) has stated that the current

lack of accommodation has forced some students to drop out

of college and has led to a host of negative situations among

students who do manage to stay in college. These include taking

on unaffordable leases, sleeping on friend’s couches or in poor

quality accommodation and commuting from other counties to

study in Dublin.

The demand for student accommodation impacts particularly on

the private rental market and the trends in that sector are reported

in a recent Daft.ie Rental Report which shows that rental costs are

increasing and particularly so in Galway and Dublin.

The most recent report from the National Economic and Social

Council (NESC) on the private rental sector (Ireland’s Rental

Sector: Pathways to Secure Occupancy and Affordable Supply,

which was published in May 2015, highlights the fact that

nationally about 305,000 households (19%) are renting from

a private landlord and the percentage of households renting is

considerably higher in Galway at 40% and Dublin at 34%.

Given the rent increases that have occurred in recent years, the low

supply of stock and the level of student households in the private

rented sector and the projected increase in student numbers over

the coming years, it can be argued that an increased provision of

designated student accommodation, both on and off campus, has

the potential, in the medium to long term to ease ongoing demand

pressures in the private rented accommodation sector. This could

potentially deliver real benefits for renters in the larger urban areas

of Galway, Dublin and Cork.

The Market

International Students

There has been unprecedented growth in participation in higher education in recent years and this is set to continue based on projections

in the ‘Report on Student Accommodation: Demand and Supply’ published by the Department of Education and Skills. These projections

estimate that demand will increase from nearly 168,000 students in 2014 to nearly 193,000 students in 2024. This increased demand

places pressure on existing infrastructure including an increasing demand for suitable student accommodation. The rapid populations

growth in Irish cities has created a situation where there is fierce competition for space to live in Dublin and in other cities that host third

level educational institutions throughout the country.

The Government’s International Education Strategy ‘Investing in Global Relationships’ 2010-2015* included

a number of targets to increase international students in higher education institutions and these have already

been achieved. The availability of purpose built student accommodation on or off campus is a prerequisite

for attracting new overseas students. In a recent report the Higher Education Institutions (HEI) stated that

international students, at the time of recruitment, demand guaranteed accommodation for at least the first

year. The projected increases in international students will put further pressure on availability of student

accommodation for domestic students.

Current & Projected Student Numbers

167,9912014

2019

2024

179,840

192,886

* Source: HTTPS://www.education.ie/en/Publications/Policy-Reports/Ireland-s-International-Education-Strategy-2010-201-Investing-in-Global-Relationships.pdf

Bed Space Supply and Demand

Location of Swuite Bohermore

Available Beds

Demand for Beds

SHORTAGE

Evidence suggests that students are having difficulty in sourcing accommodation in close proximity to their campus, particularly in large urban areas. The current demand for student bed spaces in both HEIs and private, is estimated to be just over 57,100 (public and private).

Future bed space development is based on data submitted by HEIs as well as an estimate of private off-campus projects. The projected bed space development would result in total available beds of 39,696 in 2019 and 43,496 in 2024 as illustrated in chart below (including private)

The property is located off Sean Mulvoy Road and Bohermore and is adjacent to Joyce Roundabout at Cemetery Cross. It is within walking distance of the City Centre and almost equal distance between Galway University and University Hospital to the west and GMIT Campus to the east. Galway shopping centre is only a five-minute walk.

Bohermore has a mix of commercial, residential and public amenity and is dominated by low rise (predominantly two storey) residential and off street multi-storey apartment complexes. Galway Sportsground and Galway Hibernian Soccer Club grounds are close to the property. Galway Shopping Centre also includes a multiplex cinema and other recreational amenities. This area is one of the main shopping precincts in Galway.

Galway really is a university city, with the NUIG campus being located in the heart of the city centre with all amenities on its doorstep and within walking distance. It is a vibrant place with a year-long programme of cultural and sporting festivals. Students

make up approximately 20% of the population in Galway and are an essential part of Galway life adding energy and colour to the city. The seaside resort of Salthill is always popular with residents and visitors and is within an easy access via bicycle, car or on public transport. Galway is a main node point on the popular Wild Atlantic Way and Swuite Bohermore will be a focal point on this journey offering secure bicycle and underground car parking.

TransportThe Bohermore area of Galway is server by a number of bus routes. Bus Lines 2e, 3, 9, 12 and 20 run close by and all public bus routes intersect close to our facility. Galway mainline train station in the city centre is also within walking distance of Swuite Bohermore. A national bus service also operates from a depot near to the train station.

The demand for student accommodation currently outstrips supply and this trend continues to 2024. It is estimated

that there is currently an unmet demand of about 25,000 bed spaces which has a significant impact on the private

rental market.

Source: http://trinitynews.ie/irelands-student-accomodation/ http://www.hea.ie/sites/default/files/student_accommodation_report_310815.pdfhttp://www.daft.ie/report/q1-2015-daft-rental-report.pdfhttp://files.nesc.ie/nesc_reports/en/141_Irelands_Rental_Sector_MainReport.pdfHTTPS://www.education.ie/en/Publications/Policy-Reports/Ireland-s-International-Education-Strategy-2010-201-Investing in-Global-Relationships.pdfhttp://www.failteireland.ie/FailteIreland/media/WebsiteStructure/Documents/3_Research_Insights/2_Regional_SurveysReports/Analysis-of-Visitor-Accommodation-in-Dublin-2015-20.pdf?ext=.pdf

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31,296 39,696 43,496

57,104 62,855 68,679

25,808 23,159 25,182

2014 2019 2024

Galway City Centre

1. NUIG Campus

2. GMIT Campus

3. University Hospital

4. Eyre Square, City Centre

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3

2

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SECTION 2 - DEVELOPMENT

Aparthotel Rental Schedule

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Summer lettings provides additional low cost bed accommodation for incoming tourists. Separately there are other students seeking shorter term durations such as incoming Erasmus students. Private language schools would further impact on demand.

A Failte Ireland report states ‘The demand for Irish tourism services was buoyant in 2014 and 2015 aided by a benign economic environment. Thus, the tourism sector in Ireland has returned to positive growth, and a number of key factors have contributed to this. These include the recent return to overall economic growth in Ireland, and in key overseas tourism markets, as well as trends in exchange rate movements and inflation that have enhanced price competitiveness’.

Why Choose an Aparthotel?Whether you travel often or infrequently it makes sense to know about all the different options for accommodation, many experienced travellers find themselves returning to aparthotels as they combine the best parts of a hotel with a luxury apartment. Your swuite will be outfitted with a kitchenette, living space and double bed to make it really feel like a home away from home.

The benefits of an aparthotel are plentiful, including:

• Travellers for business or leisure find constantly eating out to be too expensive or too monotonous, especially when travelling alone, and so they would rather have a fully equipped kitchen to cook in

• Families with children are looking for all the comforts of home, in a place where everyone can have a separate room as well as shared space

• Colleagues or friends travelling together require their own bedrooms as well as lounge and kitchen areas with the benefit of additional communal spaces to meet up in the evenings

• An aparthotel will afford you the space to spread out along with the essentials for longer stays such as laundry facilities

• Serviced apartments are more cost-effective than a luxury hotel over the longer term.

Marketing the Aparthotel

Swuite Bohermore will be extensively advertised and marketed through social media and booking engine websites to complement www.swuite.com and its booking engine. The many events and festivals that are hosted in Galway including the Galway Races, Galway Arts Festival and the Oyster Festival will be well served by Swuite Bohermore. Cycle tourism along the Wild Atlantic Way will be a very important market for the aparthotel accommodation.

January

May

September

February

June

October

March

July

November

April

August

December

Student

Student

Student

Student

Aparthotel

Student

Student

Aparthotel

Student

Student

Aparthotel

Student

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Many universities in Ireland rank impressively well at international level, and the country as a whole is understandably a popular choice for international students. The varied selectionof higher education institutions combines with historic cities, beautiful countryside and Ireland’s unique culture to make the country a highly attractive study destination.

Galway: A Few Facts Education Hub• NUIG is internationally recognised for its excellence, and is counted among the Top 2% of universities

worldwide. In the past five years, NUI Galway has been the only university in Ireland to rise consistently in the most competitive World University Rankings. Both the QS and Times Higher Education Rankings have placed the University in a higher position year-on-year.

• In 2015 NUIG outperformed other Irish universities by securing the highest amount of funding during the first nine months of the EU’s Horizon 2020 funding programme.

• In May 2016, NUIG and the Gate Theatre announced a partnership to digitise the Gate’s archive, a major resource of theatre scholars and artists internationally.

• Four outstanding researchers at NUIG have been ranked among the ‘World’s Most Influential Scientific Minds: 2015.

• GMIT is regarded for its increased technical knowledge and skills which are recognised as essential prerequisites for further economic growth as was the promotion of innovation and enterprise. The Mulcahy Report recommended that the Regional Technical College in Galway be designated as the main centre outside Dublin for both craft and management education and training for the hotel industry.

• In a recent publication, ‘Report on Student Accommodation: Demand and Supply’ the Higher Education Authority reported ‘it is estimated that there is an unmet demand of about 25,000 bed spaces which has a significant impact on the private rental market’. The publication reported that in the main urban areas of Dublin and Galway the availability of accommodation in proximity to a campus is a prerequisite for attracting overseas students.

Galway City Experience• Galway has been designated European Capital of Culture 2020, beating competition from Dublin, Limerick

and the south-east. NUIG will be a key player in what will be a celebration of Galway’s unique spirit of creativity and our shared European culture.

• Galway City is a thriving, bohemian, cultural city on the western coast of Ireland. Along with being a popular seaside destination with beautiful beaches and long winding promenade, it also has a buzzing cosmopolitan city centre. The city is a joy to explore with its labyrinthine cobbled streets, colourful shop facades and busy café / bar culture. The city is also well known for its many festivals throughout the year with huge crowds gathering for the annual Galway Arts Festival, Races and numerous other events. Old Ireland is present too with turf fires and traditional music featuring in many pubs to compliment your enjoyment of a well-earned pint of Guinness. Take an evening stroll along the promenade and watch the sunset over Galway Bay or watch the salmon fishermen in the River Corrib from the perfect vantage point of the Salmon Weir Bridge.

• Galway city has experienced very rapid growth in recent years. Galway has a strong local economy with complementary business sectors, including manufacturing industry, tourism, retail and distribution, education, healthcare and services that include financial, construction, cultural, and professional. Most of the people employed in Galway work in either the commerce or professional sector with a large number also employed in manufacturing. Most industry and manufacturing in Galway is hi-tech e.g. ICT, medical equipment, electronics, chemicals). Tourism is also of major importance to the city which had over 15.8% of total overseas visitors coming into Ireland in 2014.

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The Building

The site is located at Bohermore / Sean Mulvoy Road close to the major

roundabout junction at the eastern entrance to Galway city. The site is

bounded by mixed use commercial development. It is currently a vacant

three storey office building over basement carpark and planning was

sought to redesign and change the use of the building to provide a four

storey building over basement carpark at Sandyford Business Centre,

Bohermore. The total gross floor area of the building is increased from

2,257.06sqm to 2,805.37sq. The new development will comprise

77 professionally managed student and self-catering holiday

apartment suites comprising 65 single suites, 8 twin suites and 4

spacious one bedroom suites.

Full planning permission for the 77 student / holiday suites and

ancillary facilities was granted on 2nd November 2016. The building

was originally developed as an office block and was vacant for a

number of years. The existing design layout was recognised by The

Iveragh Group as being ideal for conversion into a hybrid student/

tourist accommodation hub. The building included a basement carpark

with 67 spaces and further space to provide dedicated bicycle parking.

The design concept was to provide independent living accommodation for students in self-catering suites in a number of sizes to cater for residents’ requirements and affordability. This accommodation can seamlessly transform into fully serviced self-catering accommodation for tourist visitors in the summer season.

The building will extend to 4 floors over single basement. The ground

floor is dominated by access routes and public spaces and the student

/ holiday accommodation are generally on the first to fourth floors

arranged in suites. There is a manager’s apartment on the fourth floor.

The building has been redesigned as an iconic structure in the local

landscape but does not overpower the streetscape. The redesigned

building enhances its presence as a prominent structure in this gateway

into Galway city. The mixture of façade treatments creates a blend of

interesting finishes.

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Qualityswuite has been developed so that all of our residents can avail of the highest quality living and at affordable rates. The generous size rooms cater for single and double occupancy and are all fitted out with private ensuite bathrooms, ample wardrobe and under-bed storage, a double size bed and a stylish kitchenette. There are also dedicated universal access suites.

swuite puts the visitor and student at the heart of everything which is illustrated by the standard of accommodation it delivers. It is also situated in the ideal location and is a perfect place for students to study and live and people to visit. The accommodation will be easily identifiable as amongst the best in the city.

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Facilities & Fit-Out

Suites• Private swipe card controlled front door directly accessible from stairs and lift.

• All suites have en-suite bathrooms, study bedrooms and kitchenette.

- Study bedroom (small double bed, mattress, window blind, lamp, wall

mounted pin board, under bed storage, study/vanity desk and chair,

wardrobe, easy chair/beanbag, wall mounted flat screen tv)

- Ensuite bathroom (w.c., wash hand basin, shower, towel rail, shelf,

mechanical vent extract)

- Kitchenette (wall and base storage units, counter, hob, sink and drainer,

microwave oven, mini fridge, fire blanket, kitchen extract hood, waste bins)

• Generous size suites range from 19m2 to 25m2 in area

• Quality timber floors throughout

• Energy saving lighting throughout

• Energy efficient electric heating

• Constant air exchange using heat exchange unit (for unrivalled comfort)

• Roof mounted solar thermal collector supplying hot water

• High speed broadband (wifi)

Photos are for illustrative purposes only and are not exact representations of the finished product. They are reflective of the style of finish and the quality that will be delivered.

Typical Suite Layout

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• Foyer Lounge

• Reception

• Social spaces

• Roof terrace on 3rd floor

• Basement Car parking (57 spaces)

• Bicycle spaces (63)

• Landscaping

• Juice Bar

• Laundry / drying room facilities in basement

• Lock up storage

• High speed broadband (wifi)

Common Facilities

Photos are for illustrative purposes only and are not exact representations of the finished

product. They are reflective of the style of finish and the quality that will be delivered.

In the basement of the building there is a Laundry Room, Bicycle Storage, Car Parking and Lock-Up for the use of the residents.

There is also a Games Area for the exclusive use of residents and their visitors. The apartments on each floor are accessed by two separate stairs and lift cores. There is a Roof Terrace for the exclusive and limited use by the residents.

Social SpacesGiving residents the choice to interact and socially engage with other residents is a critical part of the swuite offering. Residents can avail of the shared facilities and share in company when they choose to do so, but also have the choice to spend time alone in their private suite. Having the flexibility to experience both aspects of student living is very important in developing independence and social skills.

Swuite Bohermore will include an activity area at reception and dedicated common rooms on the first and second floors where residents can avail of various activities. The external courtyards are landscaped to provide for relaxation and exercise areas’

Main Building Entrance

Reception

Shared Social FoyerThe ground floor is dominated by the reception and open plan shared social foyer. This attractively designed open-plan space can be used for general social and leisure recreation for residents. There is also a hot desk, study area and a Juice Bar.

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Suite Types & Layouts

Suite Type A Suite Type E

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Building Floor Plans

ROOFTERRACE

SHARED SOCIAL / WORK

SPACE

SHARED SOCIAL / WORK

SPACE

SHARED SOCIAL FOYER MAIN

ENTRANCE

MANAGERSAPARTMENT

RECEPTION

ROOFTERRACE

SHARED SOCIAL / WORK

SPACE

SHARED SOCIAL / WORK

SPACE

SHARED SOCIAL FOYER MAIN

ENTRANCE

MANAGERSAPARTMENT

RECEPTION

ROOFTERRACE

SHARED SOCIAL / WORK

SPACE

SHARED SOCIAL / WORK

SPACE

SHARED SOCIAL FOYER MAIN

ENTRANCE

MANAGERSAPARTMENT

RECEPTION

ROOFTERRACE

SHARED SOCIAL / WORK

SPACE

SHARED SOCIAL / WORK

SPACE

SHARED SOCIAL FOYER MAIN

ENTRANCE

MANAGERSAPARTMENT

RECEPTION

First Floor Third Floor

Ground Floor Second Floor

Investment: Sale & Lease Back

A Unique Opportunity to invest in high quality, in demand, well located student accommodation in Galway City Centre

Iveragh Group is bringing a selection of student / visitor apartments to the market on a ‘sale and lease back’ basis at Swuite Bohermore,

Galway. The apartments will be purchased in the normal manner and simultaneously leased back to Swuite Bohermore with a rental

yield of 5.5% on gross purchase price.

The aforementioned can be illustrated based on the current selling price of €117,500

Property Sale of a suite to Investor: f 117,500

Annual Rental Income to Investor (5.5% of Purchase price*): f 6,465

*Fixed for the first 5 years and thereafter amended with the Consumer Price Index (CPI).

Payments SchedulePurchasers will pay an initial booking deposit and 3 additional stage payments.An illustrative payment schedule is as follows:

Booking Deposit: f 5,000

Payment upon signing of contract (25% of Purchase Price) f 29,375

Payment at Water Tight Stage – March 2017 (30% of Purchase Price) f 35,250

Payment at Practical Completion – August 2017 (Outstanding Balance) f 47,875

Total f 117,500

Conversion & construction will commence early January 2017 and is expected to last for 6 months.

Substantial design and construction value will be added at each stage payment and each stage will be

signed off by the project engineer and architect.

The purchaser upon closing of the sales process will lease the unit to Swuite Bohermore Limited on the following basis:• Full repairing and renewing lease for a period of 20 years.• Rent of f6,465 per annum for the first 5 years. • Rent thereafter to be adjusted from the start of year 6 for CPI increases. The end of year 5 will be the

base year for calculating the CPI increases.• Rent will be payable 6 months in arrears in June and December of each year. • A Substantial Rent Bond in the amount of f266,250 to be put in place to support Swuite Bohermore

Limited obligations under the leases.

Important Note ALL RENTS WILL BE PAID WITHOUT DEDUCTION AND NO MANAGEMENT FEES WILL APPLY.

Exceptional Residential YieldThe rental yield on Swuite Bohermore represents exceptional value in the context of the Galway City residential market. A typical two-bedroom apartment in similar areas in Galway sells for an average of €200,000 with a net rent totalling circa €9,000. This represents a net yield on purchase of 4.5%. Swuite Bohermore offers at net rental yield of 5.5% on purchase, a full 1% more with a fully hands off, full repairing and insuring investment with pre-emption rights. In the event that a purchaser acquires 2 units at Swuite Bohermore for €235,000 (2 units x €117,500), net rent of €12,930 would accrue to the purchaser. This represents an exceptional residential yield.

Property Sale LeaseInvestor

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5.5% NET ANNUAL

RENTAL RETURN

SECTION 3 - INVESTMENT

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Investment TimelineNow

• Reservation completed and €5,000 deposit paid

• Solicitors instructed and contracts issued

• First instalment of 25% due • Exchange of contracts

January 2017

• Construction of Swuite Bohermore commences

April 2017

• Second instalment of 30% due at building frame completion

July 2017

• Completion of Swuite Bohermore

September 2017

• Lease granted and leaseback commences

• Academic year begins and tenants move in

• Start of five-year annualised 5.5% net rental begins

• Start of two-year Rental Bond

February 2018

• First bi-annual instalment of assured rental return is paid

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Current Market ValueSwuite Bohermore will at the outset of the lease put in place a rent bond in the amount of e266,250 being 50% of the annual rent commitment. The rent bond will remain in place for the first two years of the lease and is designed to supplement any unlikely shortfall in rental income during the start-up period.

Student accommodation in the large urban centres is increasing in value due to the lack of supply and rising rents. The increasing value is evident by comparison to a conventional cluster type student apartment facility currently for sale in Dublin at a near 5% yield or circa €180,000 per bed space. SWUITE BOHERMORE is selling at a yield of 5.5% or circa €117,500 per studio apartment. The aforementioned represents excellent value and affords investors capital appreciation into the future due to rising rents and yield compression, i.e. yield falling from 5.5% to say 5.0% immediately increases the value of the apartment on the open market.

This can be illustrated as follows:

• Current selling price of a self-contained student studio apartment e117,500

• Annual Rental Income (5.5% of purchase price*) e6,465

• Yield compression from 5.5% to 5% has the following impact on property value

- A 5% yield based on an annual rent of e6,465 will value a self-contained studio

apartment at e129,300

*Fixed for the first 5 years and thereafter amended with the Consumer Price Index (CPI).

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Pre-Emption Arrangements

Step 1: Open Market Price Established

Step 2: Offer of First Refusal

Step 3: Accept / Decline OR

SELL TO IVERAGH GROUP

Investment Property Owner

Open Property Market

FOR SALE

SELL ON OPEN

MARKET

Pre-Emption RightsRent BondThe Iveragh Group will maintain pre-emption rights in respect of each apartment sold in the complex. Pre-emption rights will give the Iveragh Group the right of first refusal in respect of the second hand sale of units.

Buy-Back Of Units

Each owner is free to go to the open market and arrive at an offer for the purchase of their apartment. In advance of proceeding with a third party sale the owner must offer the unit to the Iveragh Group at the price achieved on the open market. The Iveragh Group can at that point acquire the unit or decline the offer and allow the sale proceed to the third party sourced by the owner.

It is Iveragh Group’s intention to exercise its pre-emption rights and ultimately repurchase the entire facility on a phased basis determined by owner’s intention to sell.

Swuite Bohermore Limited will at the outset of the lease put in place a rent bond in the amount of e266,250, being 50% of the annual rent commitment. The rent bond will remain in place for the first two years of the lease and is designed to supplement any unlikely shortfall in rental income during the start-up period.

The rent bond will be lodged into a separate account and can only be accessed in the event of unlikely rental shortfalls. Owners will be kept fully informed in the event that the rent bond is accessed. Provisions relating to the rent bond will be legally documented within the lease agreement for each unit.

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Iveragh Student Accommodation Ltd (ISA) was set up to address the severe shortage of purpose built student accommodation in certain locations in Ireland and in response, develop high quality purpose designed and built facilities in key locations that meet the needs of students and others. Through our intensive market research, it was identified that there was potential for dual use of suitably designed and constructed facilities to serve the student market during the academic semesters and the holiday/business market during the peak summer seasons.

The business cases of existing halls of residences in third level institutions and various international brands were studied and the market trends in the need/demand of suitable high quality accommodation were assessed. ISA possessed the capability and experience to deliver quality developments and set modest goals for delivery. These goals went beyond delivery of new purpose designed and build developments and extended to the management and operation of the completed facilities. To help facilitate our operations business ISA commissioned the design of a corporate brand and combined the pleasantness of ‘sweet’ with the homeliness of an apartment ‘suite’ to create the brand ‘swuite’. The new brand has been ‘Trade Mark’ registered and will be used to identify and promote each of our operations.

For Investors• A luxury purpose designed student accommodation property

in the most desirable student development in one of Irelands premier university cities

• Full occupancy rates that deliver contractually assured returns • An effortless, fully managed investment• A future-proof investment. The high-spec finish and finishes

are very desirable to residents and attract both re-bookings and future referrals

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For Student and Holiday Residents• A prime location, minutes’ walk from the NUIG, GMIT and the city centre • Easy access to other third level colleges and Eyre Square• A market-leading university experience that is fostered by the sector’s best management team and

unrivalled community facilities• The highest standard of student living in Galway in one of the best new property developments in the

whole city • Own kitchenette that features solid-surface worktops, fully integrated appliances including fridge,

combination microwave oven, electric hob and extractor hood • An ensuite shower room with boutique styling including porcelain tiles and designer fittings • Free high-speed 100Mb broadband and a wall-hung flatscreen smart TV• Secure entrance door with key fob access to bedrooms, apartments and building• A weekly cleaning service

Management CompanyWith the belief and support of our investor partners we have identified and purchased development property in Galway and Dublin where the first 216 swuite beds will be delivered. With the continued support of our shareholders and investors we will continue to build our team of focused, experienced and determined individuals capable of achieving and surpassing our modest goals and deliver safe and secure returns to our partners and high quality, sustainable and affordable living accommodation to our residents.

Iveragh Group

Iveragh Group is an umbrella structure under which each of our business sectors operate. Our operational sectors include student accommodation, build to let accommodation and short term holiday and business letting. We respond to the shortcomings in each market sector to deliver quality, sustainable and affordable living accommodation. Our Group structure benefits from the overlap in competencies of each sector to facilitate our streamlined business.

FAQ’s When is the completion date of the complex?August 2017

Can I use the apartment personally?No, the unit is leased to Swuite Bohermore Limited for a period of 20 years.

Can my son or daughter use the unit when they go into third level in Galway?Yes, but they must pay the going rate. Priority access will be given to owner’s children, subject to terms and conditions.

Do I have to pay an annual management fee?No, management fees are derived from operational revenue.

Is the 5.5% rent the amount I will receive?Yes, the amount is paid without deduction.

Who is responsible for the repairs, replacements and maintenance of the unit?Swuite Bohermore Limited is fully responsible for all repairs, replacements and maintenance.

Is there supervision on site 24 hours a day?Yes, the reception will be open during office hours and the property manager will reside in the building.

What happens to the lease if I sell the unit?The new owner will step into the previous owner’s shoes and continue the lease as originally contracted.

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Please note that the information that we distribute is produced with the best of care and believed to be correct at the time of printing. Images, models, layouts and other details in this brochure are given as a general guide and may change from time to time in accordance with the final designs of the development. We endeavour to ensure that any market forecasts are accurate and well researched at the time however we cannot ultimately be held liable for any reliance you may make of or put on it except as specifically agreed with us in any future agreement we may make with you in writing.

brochure design ::: midpointcreative.com

www.swuite.com

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