MIXED-USE GREATER LONDON INVESTMENT & DEVELOPMENT OPPORTUNITY

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1 MIXED-USE GREATER LONDON INVESTMENT & DEVELOPMENT OPPORTUNITY 1-6 CLOCK PARADE LONDON ROAD ENFIELD EN2 6JG

INVESTMENT SUMMARY Enfield is an affluent north London commuter town located 11 miles north of central London The property comprises a two-storey mixed-use terrace building, with a substantial

2 INVESTMENT SUMMARY Enfield is an affluent north London commuter town located 11 miles north of central London The property comprises a two-storey mixed-use terrace building, with a substantial warehouse to the rear The site extends to 0.89 acres, providing 30,679 sq ft (2, sq m) of accommodation Freehold Let to four commercial tenants and six residential tenants on AST s WAULT of 7.25 years on the commercial element The total passing rent of the property is 392,752 per annum The property benefits from planning consent for an additional eight residential apartments Available either as a property transaction or by a way of an SPV, mitigating any stamp duty and therefore allowing for 1.80% purchaser s costs Offers are sought in excess of 7 million reflecting a blended net initial yield of 5.26%, which does not take account of the inherent development value obtained via the planning consents for the additional 8 flats II

Cambridge Bedford M11 Milton Keynes Luton A1(M) Stevenage STANSTEAD AIRPORT Colchester LUTON AIRPORT St Albans A12 Harlow M1 M25 ENFIELD M4 Brentwood Ilford M40 Reading Chelmsford A10 CITY AIRPORT

3 Cambridge Bedford M11 Milton Keynes Luton A1(M) Stevenage STANSTEAD AIRPORT Colchester LUTON AIRPORT St Albans A12 Harlow M1 M25 ENFIELD M4 Brentwood Ilford M40 Reading Chelmsford A10 CITY AIRPORT LONDON Tilbury MarGATE HEATHROW AIRPORT M2 Gillingham Croydon M3 Canterbury M25 A24 Tonbridge M23 GATWICK AIRPORT East Grinstead Crawley LOCATION A21 Uckfield Royal Tunbridge Wells Hastings Brighton Eastbourne Enfield is locatedworthing 11 miles north of Central London and is one of Greater London s largest boroughs with a resident population of approximately 300,000 inhabitants. Enfield serves as a commuter hub for Central London, the City financial district and the West End. The majority of multinational retailers are represented in Enfield town centre, with the main retail activity focused on the Palace Exchange Shopping Centre and Palace Garden Shopping Centre (both owned by Deutsche Asset Management), as well as Church Street. Adjoining roads including London Road, Southbury Road and Silver Street are dominated by local independent retailers, estate agents and employment agencies. DoveR Ashford A22 Horsham M20 FOLKSTONE COMMUNICATION The area has excellent transport communications: Enfield benefits from a good road connections, with the A10 Great Cambridge Road running north to south through the borough. The A10 provides access to the A406 North Circular Road and to junction 25 of the M25 three miles to the north. The town has two main line railway stations, Enfield Chase and Enfield Town, providing connections to London Kings Cross (31 minutes), Moorgate (34 minutes) and Liverpool Street (35 minutes). Heathrow International Airport is just 25 miles to the south west of Enfield, Luton Airport is situated 29 miles north west and Stansted Airport is located 30 miles to the northeast. III

SOUTHBURY ROAD CHURCH ROAD A110 Nando s GENO CATCHMENT & DEMOGRAPHICS T IN E Waitrose ENFIELD TOWN STATION RD Palace Gardens Shopping Centre TK Maxx A1 10 Boots Tesco Superstore CEC ILE ROA D

4 SOUTHBURY ROAD CHURCH ROAD A110 Nando s GENO CATCHMENT & DEMOGRAPHICS T IN E Waitrose ENFIELD TOWN STATION RD Palace Gardens Shopping Centre TK Maxx A1 10 Boots Tesco Superstore CEC ILE ROA D (Source: CACI) LO ND O N RO AD Affluent Area Commuter hub for Central London SITUATION DESCRIPTION The property is situated 0.5 miles south of Enfield town centre, within an affluent residential area. The property comprises a two-storey mixed-use parade terrace building which was constructed c1920. Situated on the eastern side of London Road, 1-6 Clock Parade is within the junctions of Castleleigh Court to the south and a Private road to the north. Enfield Town Station and the town centre are both within a 10 minute walk. London Road is a key arterial route running from the town centre to the north to the A10 to the south. Retail accommodation is arranged over the ground floor and basement. The vacant office accommodation is arranged over the first floor along with six residential apartments which benefit from a separate access. The ground floor retail accommodation has been configured to comprise a local convenience store known as Unit A, a retail unit known as Unit B and a double retail unit known as Unit C & D. Unit C & D is the only unit to comprise an additional lower ground level. There is a warehouse unit which is being used as a vehicle repair workshop, located on the eastern elevation and accessed from a side road along the southern elevation of the property. Young local catchment 287,919 catchment population within a 10 minute drive time 6.6% estimated population growth IV

5 SITE The property occupies a site that extends to 0.89 acres (0.36 hectares) with a significant frontage onto London Road. WA LSI N TENURE GH AM RO AD LO N DO NR OA D The property is held freehold. The property comprises a two-storey mixed-use terrace building with planning consent for an additional 8 residential apartments For indicative purposes only V

6 TENANCY SCHEDULE COMMERCIAL RESIDENTIAL Tenant Description Area (sq ft) Area (sq m) Lease Start Lease Expiry Lease Break Term (years) Rent pa ( ) Annual Service Charge Mr Clutch Warehouse 8, /09/ /09/ /09/ ,750 2,406 Sainsbury's Unit A 4, /04/ /04/2026 Sainsbury s recently removed their 2021 tenant break option ,072 2,244 Warren Evans Unit B 5, /04/ /04/ ,000 2,558 Unit C & D 4, Saint Gobain Building Distributions Ltd Basement 2, Unit C& D 12/05/ /05/ ,250 2,897 Vacant offices Office 1, Commercial Total 27,197 2, ,072 Mr Joel Brown & Miss Shenel Tharani Flat /04/ /04/ ,080 Miss Lillian Senamela Flat /10/ /10/ ,600 Miss Chelsea Pryce Flat /09/ /03/ ,600 Mr Deepak Puthiyedath & Mr Efren Abella Flat /05/ /05/ ,600 Miss Magdalena Jakubowska Flat /03/ /02/ ,600 Mr Trevor Lovett & Mrs Alicja Lovett Flat /06/ /05/ ,200 Residential Total 3, ,680 Total 30,679 2, ,752 Comments Tenant only break in yearly open market rent reviews 5 yearly upwards only rent reviews by reference to RPI increases, capped and collared at 1.5% and 3.5% per annum compounded 5 yearly open market rent reviews. The tenant went into administration on 07/02/2018. The vendor will provide an 18 month top up for rent, rates, service charge and insurance 5 yearly open market rent reviews LONDON ROAD ENFIELD VI

TENANT S COVENANT INFORMATION Sainsbury s Supermarkets Limited (Company No 03261722) 26% of income 73/100 - ICC Credit Rating Score Sainsbury s is one of the UK s leading food store operators forming

7 TENANT S COVENANT INFORMATION Sainsbury s Supermarkets Limited (Company No ) 26% of income 73/100 - ICC Credit Rating Score Sainsbury s is one of the UK s leading food store operators forming part of the Big Four supermarket chains dominating the nations grocery market. Sainsbury s is the second largest chain of supermarkets in the UK, with a 15.8% market share of the supermarket sector. The company has 162,700 employees and 1,412 stores in the UK, of which 807 are convenience stores. Saint Gobain Building Distribution Ltd (Company No ) 19% of income 79/100 ICC Credit Rating Score 31/12/ /12/ ,225, ,020, ,498,000 26,775,000 30,090,000 6,640,000 Tangible Net Worth 158,423, ,615, ,700,000 Net Current Assets 296,488, ,305, ,953,000 12/03/ /03/ ,234,000,000 23,168,000,000 23,443,000, ,000, ,000,000 ( 206,000,000) Pre Tax Profit Tangible Net Worth 4,353,000,000 4,458,000,000 4,224,000,000 Net Current Assets 4,498,000,000 4,608,000,000 4,377,000,000 Pre Tax Profit Mr Clutch Autocentres Limited (Company No ) 18% of income 57/100 ICC Credit Rating Score 31/03/ /03/ ,139,922 10,950,389 10,767,658 Pre Tax Profit 228, , ,051 Tangible Net Worth 523, , ,549 Net Current Assets 523, , ,549 Turnover Brothers Joseph and Will Yussuf opened their first branch in 1978, and now the brand is nationally recognised as one of the premier autocentre groups in England. They have over 40 branches across the country providing a wide range of garage services including the fitting of clutches, brakes and manual transmissions. They are also able to carry out full car servicing, general repairs and, in selected centres, MOT testing. 31/03/2017 Turnover In addition to tile accessories, they also specialise in underfloor heating, adhesives, tools and grouts, all readily available in store. 31/12/ /03/2017 Turnover Tile Depot is one of the South East s leading retailers of Wall and Floor Tiles, and forms part of the CTD (Ceramic Tile Distributors) Group has 17 stores. Their selection includes natural stone, slate, glass, mosaic, ceramic and porcelain tiles. VII

18% 20% Residential 19% Saint Gobain Building Distributions Ltd Mr Clutch Income Analysis 26% Sainsbury s 18% Warren Evans INVESTMENT COMPARABLES Please

NIY 270-282 Upper Richmond Road West, SW14 Q4 2017 10,208 5.6m 549 4.75% 60-66 Putney High Street, SW15 Q4 2016 38,500 20.0m 519 3.

8 18% 20% Residential 19% Saint Gobain Building Distributions Ltd Mr Clutch Income Analysis 26% Sainsbury s 18% Warren Evans INVESTMENT COMPARABLES Please see below Greater London comparables which benefit from residential development potential: Address Date Area (sq ft) Capital Value Capital Value (psf) NIY Upper Richmond Road West, SW14 Q , m % Putney High Street, SW15 Q , m % 3-33 King Street, Twickenham, TW1 Q , m % The property is located 0.5 miles to the south of Enfield town centre within an affluent residential area VIII

1. Second floor roof extension 4 residential apartments REDEVELOPMENT OPPORTUNITY Enfield council have granted planning permission for the following: Address 1.

9 1. Second floor roof extension 4 residential apartments REDEVELOPMENT OPPORTUNITY Enfield council have granted planning permission for the following: Address 1. First floor extension to rear providing 1 residential apartment 1. Unit 3-6 Clock Parade Reference Decision Date 16/04769/FUL 27/09/2017 Proposal Erection of 2nd floor roof extension to provide 4 self contained flats comprising 2 x 1 bed and 2 x 2 bed, first floor extension to rear to provide 1 x 2 bed self contained flat together with external staircases and bike store Clock Parade 16/04313/PRJ 18/11/2016 Change of use of first floor from office use (Class B1(a)) to residential dwelling, 1 x 1-bed contained flat (Class C3). For indicative purposes only Clock Parade 15/05573/PRJ 25/02/2016 Change of use from first floor office (B 1) to 2 x residential flats (C3). 2. Change of use from first floor office to 1 residential apartment 3. Change of use from first floor office to 2 residential apartments First floor existing residential apartments This potential development offers an excellent opportunity to deliver modern apartments, taking advantage of the property s affluent residential location, and its close proximity to public transport. IX

EPC The property has the following EPC ratings: Address Tenant EPC Rating 5 Clock Parade Mr Clutch D

Further information is available upon request.

10 EPC The property has the following EPC ratings: Address Tenant EPC Rating 5 Clock Parade Mr Clutch D 3-4 Clock Parade Tile Depot D 2 Clock Parade Warren Evans D 1 Clock Parade Sainsbury s D VAT The property has been elected for VAT. SPV The property can be purchased either as a property transaction or an SPV. Further information is available upon request. PROPOSAL Offers are sought in excess of 7 million (Seven Million Pounds) reflecting a blended net initial yield of 5.26%, which does not take account of the inherent development value obtained via the planning consents for the additional 8 flats. X

CONTACTS For further information and access to the dataroom please contact: Christopher Robinson T: +44 (0)207 087 5624 M: +44 (0)7816 340730 Chris.Robinson@eu.jll.

11 CONTACTS For further information and access to the dataroom please contact: Christopher Robinson T: +44 (0) M: +44 (0) Megan Hutchinson T: +44 (0) M: +44 (0) Alex Green D: +44 (0) M: +44 (0) Toby Leaman T: +44 (0) M: +44 (0) MISREPRESENTATION ACT JLL and Burlington Green Partners, for themselves and for the vendors of this property, whose agents they are, give notice that (i) the particulars and any further information communicated by any means to potential purchasers of the property described in the particulars, or their advisers, in connection with the possible sale of the property are provided solely for the purpose of assisting potential purchasers in deciding whether they wish to proceed with further investigation of the property and do not constitute either the whole or any part of an invitation, offer or contract for sale of the property; (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct as at the date of the particulars (or the date of the relevant information if earlier). However, potential purchasers are not entitled to rely on them as statements or representations of fact but should satisfy themselves by searches, enquiries, surveys and inspections or otherwise with regard to the accuracy of such details. No responsibility or liability is or will be accepted by JLL and Burlington Green Partners, the vendor(s) of the property or any of their respective subsidiaries, affiliates, directors, officers, representatives, employees, advisors, or agents for any loss or damage suffered by any party, resulting from reliance on the particulars or any other information communicated by any means to that party, or its advisers, in connection with the possible sale of the property. No person in the employment of Jones Lang LaSalle or the vendor(s) has authority to make or give any representation or warranty, express or implied, in relation to the property. References to JLL and Burlington Green Partners include any joint agents acting with JLL and Burlington Green Partners. Designed by Graphic Outlines Ltd. 2018

PRIME HIGH STREET INVESTMENT

PRIME HIGH STREET INVESTMENT INVESTMENT CONSIDERATIONS Affluent administrative centre and the county town of Kent. 100% prime pitch on Week Street. Well secured to Marks & Spencer PLC, a 5A1 covenant for