A rare opportunity to acquire a prime mixed use investment in Nottingham city centre. ENTER. Upper Parliament Street, Nottingham.

Transcription

1 A rare opportunity to acquire a prime mixed use investment in Nottingham city centre. T H E ENTER Upper, Nottingham heb

2 Introduction The Axis was developed by Henry Boot Developments Limited and completed in 2009 following a major redevelopment of what was previously a substantial landmark department store. Situated in the heart of Nottingham, the scheme provides a diverse mix of Retail, A3, Leisure, Office and Residential uses along with 193 secure car parking spaces, all of which have been carefully combined to provide an investor with a blend of both long term secure income as well as the opportunity to add value through the on-going asset management of the wider investment. Held within Henry Boot s retained investment portfolio, this is the first time The Axis has been offered to the investment market. The sales campaign is supported by a comprehensive data room, see Proposal for details or

3 Executive Summary Executive Summary A substantial freehold and part leasehold mixed use investment offered to the market for the first time since the scheme was completed in Located on Upper and Wollaton Street in Nottingham City Centre. The comprises of three buildings that have been combined to provide retail, A3, Casino, prime Grade A offices and 18 residential apartments, 95 basement car spaces along with an adjoining 98 space long leasehold car park, included in the sale. The property extends to over 192,680 sq.ft arranged on basement, ground, and four upper levels with generous basement car parking. Let to a total of 7 primary tenants who occupy under 8 separate leases. Occupiers include The Driving Standards Agency (Secretary of State for Communities and Local Government), London Clubs International Plc and Philpotts Limited. The property produces a current rental income of 1,894,696 per annum and has a current ERV of 2,057,028 per annum. We are seeking offers in excess of 26,000,000 for the benefit of our client s interest. A purchase at this level will provide a net initial yield of 6.9% rising to 7.5% based on the current ERV s, and an equivalent yield (quarterly in advance) of 7.77%.

4 Nottingham Nottingham The City of Nottingham lies at the heart of the UK and is regarded as the commercial and administrative hub of the East Midlands. With an economy worth an estimated 12.1 billion, Nottingham is served by a substantial diversified workforce, with over 15 million people living within a 50 mile radius of the centre, covering an extensive area running south towards Loughborough and west towards Derby. Mansfield is to the north and Newark on Trent and Grantham to the north east and east. The city attracts a number of international corporations with over fifty Regional and National Headquarters based in the city. Nottingham is the home to Boots Company/now Alliance Boots, Experian, Eon UK, Imperial Tobacco Limited, Gala Group, Siemens, Speedo, Vision Express, Games Workshop, Capital One and Rolls Royce. Nottingham is also one of the UK s top five retail destinations and will be further boosted by the redevelopment of the city s two main shopping centres, Victoria Centre and Broadmarsh. The city s thriving leisure market is boosted by the presence of over 65,000 students living in the city, based at The University of Nottingham and Nottingham Trent University.

5 Location Location Located in the centre of the United Kingdom 125 miles north of London, Nottingham is served by 3 junctions of the M1 motorway (24-26). Transport communications are excellent. The city is directly linked to the East Coast Mainline (London St Pancras 1 hour 45 minutes), Nottingham East Midlands Airport provides direct flights to 90 international destinations and the city s modern tram system carries an estimated 9.5 million passengers every year. The Axis occupies a prominent position at the intersection of three of the city centre s principal road ways; Upper, Maid Marian Way and Derby Road. The location borders the city s central business district and Nottingham s main retail and leisure areas centred around Old Market Square. The Axis is 640m west of the Victoria Shopping Centre. Clumber Street the prime retail pitch and Broadmarsh Shopping Centre is just 800m south. Nottingham Trent University is situated 320m to the north, off Goldsmith Street. EDINBURGH MANCHESTER JOURNEY LOCATION DISTANCE (MILES) London 125 Manchester 83 Birmingham 55 Leeds 73 Liverpool 111 Edinburgh 280 RAIL LOCATION JOURNEY TIME London 1 hr 45 mins Manchester 1 hr 56 mins Birmingham 1 hr 39 mins Leeds 1 hr 53 mins Liverpool 2 hrs 44 mins Edinburgh 4 hrs 42 mins LEEDS NOTTINGHAM BIRMINGHAM National Map LONDON

6 Melton Rd T H E Location Location Located in the centre of the United Kingdom 125 miles north of London, Nottingham is served by 3 junctions of the M1 motorway (24-26). Transport communications are excellent. The city is directly linked to the East Coast Mainline (London St Pancras 1 hour 45 minutes), Nottingham East Midlands Airport provides direct flights to 90 international destinations and the city s modern tram system carries an estimated 9.5 million passengers every year. ey A610 Kimberley 26 Old Basford Sherwood A60 Arnold Mapperley B The Axis occupies a prominent position at the intersection of three of the city centre s principal road ways; Upper, Maid Marian Way and Derby Road. The location borders the city s central business district and Nottingham s main retail and leisure areas centred around Old Market Square. The Axis is 640m west of the Victoria Shopping Centre. Clumber Street the prime retail pitch and Broadmarsh Shopping Centre is just 800m south. Ilkeston M1 Bramcote Wollaton A6514 Nottingham Lenton A60 Carlton Radcliffe Rd Radcliffe o Nottingham Trent University is situated 320m to the north, off Goldsmith Street. 25 A52 Beeston Wilford A52 Edwalton A52 Clifton Regional Map M1 Gre en St Plumtree

7 MARKET ST footbridge HIGH STREET BELWARD ST LONDON RD A60 T H E Location Location Located in the centre of the United Kingdom 125 miles north of London, Nottingham is served by 3 junctions of the M1 motorway (24-26). Transport communications are excellent. The city is directly linked to the East Coast Mainline (London St Pancras 1 hour 45 minutes), Nottingham East Midlands Airport provides direct flights to 90 international destinations and the city s modern tram system carries an estimated 9.5 million passengers every year. The Axis occupies a prominent position at the intersection of three of the city centre s principal road ways; Upper, Maid Marian Way and Derby Road. The location borders the city s central business district and Nottingham s main retail and leisure areas centred around Old Market Square. The Axis is 640m west of the Victoria Shopping Centre. Clumber Street the prime retail pitch and Broadmarsh Shopping Centre is just 800m south. Nottingham Trent University is situated 320m to the north, off Goldsmith Street. A609 A6200 A610 ILKESTON RD DERBY RD Key ALFRETON RD CANNING CIRCUS THE ROPEWALK NEWCASTLE TERRACE T H E Royal Zone Victoria Zone GENERAL CEMETERY TALBOT STREET WOLLATON STREET DERBY ROAD Lace Market Zone Castle Zone Broadmarsh Zone PARK TERRACE COLLEGE STREET TREET CLARENDON STREET WELLINGTON CIRCUS REGENT STREET THE ROPEWALK CHAUCER STREET NOTTINGHAM PLAYHOUSE HAMPDEN STREET TALBOT STREET TOLL HOUSE HILL A6005 PARK ROW GOLDSMITH ST ALBERT HALL 5 POSTERN ST 10 SHAKESPEARE STREET MOUNT STREET LE NTON ROAD PEVERIL DRIVE WOLLATON STREET 5 CHAPEL BAR ST ST JAMES S TERR 15 JAMES S ST TREET LONG ROW WEST FRIAR LANE ST JAMES S ST CASTLE ROAD TREET FRIAR LANE SPANIEL ROW SOUTH SHERWOOD ST UPPER PARLIAMENT STREET MAID MARIAN WAY NOTTIN GHAM CASTLE 8 CASTLE BOULEVARD GOLDSMITH ST ANGEL ROW HOUNDS GATE 10 THE NOTTINGHAM TRENT UNIVERSITY 11 ROYAL CONCERT HALL CASTLE GATE THEA TRE ROYAL 12 MAID MARIAN WAY 6 9 FORMAN QUEEN ST LONG ROW CASTLE GATE WILFORD STREET THE CORNERHOUSE 4 OLD MARKET SQ N CHURCH ST ST RK STREET UNION RD TRINITY SQ KING ST WHEEL ER GATE GREYHOUND STREET HOUNDS GATE STH PARADE STANFORD ST 1 KINGS WALK 8 11 TRINITY WALK COUNCIL HOUSE EXCHANGE WK ALBION ST MILTON STREET LONG ROW E SMITHY ROW CLUMBER STREET CHEAPSIDE POULTRY ST PETER S GATE LOW PAVEMENT LISTER GATE VICTORIA BUS STATION 13 COLLIN STREET 3 REET VICTORIA CENTRE LINCOLN THURLAND ST GREAT F OLD ST PERTH ST PELHAM STREET BRIDLESMITH GATE BROADMARSH SHOPPING CENTRE CARRINGTON STREET GLASSHOUSE STREET VICTORIA ST MIDDLE MIDDLE HILL UNION ROAD HOWARD ST RICK ST GEORGE STREET ST MARKS ST KENT ST CURZON PLACE CONVENT ST KING EDWARD ST LOWER PARLIAMENT STREET 1 BOTTLE BYARD LANE 2 B ROADMARSH BUS STATION 14 STREET LANE CARLTON ST PILCHER GATE FLETCHER GATE PAVEMENT ST MARY'S GATE ST MARY S GATE HIGH PAVEMENT TRENT ST REET WARSER GATE HALIFAX PL POPHAM STREET HUNTINGDON STREET BROAD STREET BROAD HEATHCOAT STREET WAY ST ANN S WELL ROAD CRANBROOK STREET WOOLPACK LANE STONEY STREET CLIFF ROAD QUEEN S ROAD GOOSE GATE BARKER GATE CANAL STREETCANAL STREET 7 3 NOTTINGHAM RAILWAY STATION MAIDEN LN PLUMPTRE ST BATH STREET BROOK STREET HOLLOWSTONE STATION STREET 6 Scale: ST MARY S REST GARDEN MALIN HILL HOCKLEY BELLAR GATE PLUMPTRE SQ LONDON ROAD BOSTON ST NATIONAL ICE CENTRE AND T REN T FM ARENA DEAN ST POP LAR GEDLING ST FISHER GATE S T metres 7 VICTORIA LEISURE CENTRE LOWER PARLIAMENT STREET GEDLING ST BATH STREET SOUTHWELL RD CITY LINK MANVERS STREET PENNYFOOT STREET PLOUGH LANE A612 POPLAR STREET CITY LINK Key A453 Broadmarsh Shopping Centre 1 Nottingham Railway Station 2 Victoria Centre 3 The Cornerhouse 4 Nottingham Playhouse 5 Royal Centre 6 - Royal Concert Hall - Theatre Royal Trent FM Arena 7 Brian Clough Statue 8 Old Market Square 9 Robin Hood Statue 10 The Nottingham Trent University 11 City Map

8 Aerials Nottingham Trent University Campus Cornerhouse Derby Road The Axis Upper View 1

9 Aerials View 2

10 Aerials View 3

11 The Axis Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper. There are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces. In addition to the freehold sale, the property is offered with the benefit of a long leasehold interest at a peppercorn rent in City Gate, Tollhouse Hill, which provides 98 of the 193 car spaces available across the development. Landmark mixed use investment 192,680 sq.ft of A3, retail, office, casino and residential accommodation 193 on site car parking spaces Producing 1,894,696 per annum with reversionary potential

12 The Axis Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper. There are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces. In addition to the freehold sale, the property is offered with the benefit of a long leasehold interest at a peppercorn rent in City Gate, Tollhouse Hill, which provides 98 of the 193 car spaces available across the development. A3 A3 A3 Four modern open plan retail/a3 units Fronting busy thoroughfare of Upper Let on four separate tenancies Producing a sub income of 258,000 per annum

13 The Axis Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper. There are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces. In addition to the freehold sale, the property is offered with the benefit of a long leasehold interest at a peppercorn rent in City Gate, Tollhouse Hill, which provides 98 of the 193 car spaces available across the development. CASINO Nottingham s largest Casino situated on basement, ground, and two upper levels Extending to over 58,000 sq.ft of trading space Marco Pierre White s signature restaurant located within demise Lease includes up to 95 basement car spaces with index linked rental income

14 The Axis Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper. There are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces. THE POYNT THE DSA In addition to the freehold sale, the property is offered with the benefit of a long leasehold interest at a peppercorn rent in City Gate, Tollhouse Hill, which provides 98 of the 193 car spaces available across the development. ST GEORGE S HALL 82,819 sq.ft of grade A office accommodation Three distinct office buildings with their own characteristics. The Axis- DSA, The Poynt and St. Georges Hall 98 secure car spaces available to office occupiers.

15 The Axis Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper. There are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces. RESIDENTIAL In addition to the freehold sale, the property is offered with the benefit of a long leasehold interest at a peppercorn rent in City Gate, Tollhouse Hill, which provides 98 of the 193 car spaces available across the development. 18 Duplex two bed apartments All with benefit of a car parking space Providing panoramic views across Nottingham Producing total fixed ground rents of 3,600 per annum

16 The Axis Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper. There are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces. THE POYNT In addition to the freehold sale, the property is offered with the benefit of a long leasehold interest at a peppercorn rent in City Gate, Tollhouse Hill, which provides 98 of the 193 car spaces available across the development. WOLLATON STREET ENTRANCE CAR PARK Large purpose built single level car park Accessed off Wollaton Street immediately adjacent to The Axis Held on 174 year ground lease at a peppercorn rent Title Plan attached

17 The Axis Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper. There are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces. In addition to the freehold sale, the property is offered with the benefit of a long leasehold interest at a peppercorn rent in City Gate, Tollhouse Hill, which provides 98 of the 193 car spaces available across the development. Leasehold Freehold The Axis development is sold with freehold title Adjoining 98 space car park held on 174 year ground lease with effect from 25 March 1976 Title reports and lease documentation are available in the data room.

18 Retail A3/Retail Upper is a busy retail and leisure thoroughfare which links the city s business district with the main retail areas of the city. The Axis benefits from four open plan and well configured A3 and retail units which are let in accordance with the sub tenancy schedule below. Full financial information on the tenants is available in the data room. The units provide a total floor area of 13,959 sq.ft ranging in size from 1,965 sq.ft to 6,342 sq.ft. All four units are fitted out by the occupiers to a high standard. The passing rent across all four, ground floor units is currently 258,000 per annum equating to an overall rent of just 18 psf. Based on surrounding evidence we estimate the market value to be 20 psf, which generates a Sub-ERV of 273,540 per annum. (Market evidence is available in the data room). A3/Retail Tenancy Schedule Retail Upper Retail Upper Retail Upper Retail Upper Ground PF Collections Limited Next RR Current Rent 2, years yrly , , Ground Philpotts Limited 1, years yrly , , Ground Ground Spice Quarter (Nottingham) Limited t/a Peachy Keens Arfan Razak t/a Curry Lounge 6, years yrly , , , years yrly , , ,959 1, , ,540 Rent PSF ERV ERV psf Comments Rent review due 19th July 2014 (Notice not served) Philpotts recently acquired by Patisserie Valerie Surety from Mr Mingkam (5% discount for quantum on ERV) 80,000 deposit held. Recently assigned with Surety to Edward & Moore Ltd.

19 Retail A3/Retail Upper is a busy retail and leisure thoroughfare which links the city s business district with the main retail areas of the city. The Axis benefits from four open plan and well configured A3 and retail units which are let in accordance with the sub tenancy schedule below. Full financial information on the tenants is available in the data room. The units provide a total floor area of 13,959 sq.ft ranging in size from 1,965 sq.ft to 6,342 sq.ft. All four units are fitted out by the occupiers to a high standard. The passing rent across all four, ground floor units is currently 258,000 per annum equating to an overall rent of just 18 psf. Based on surrounding evidence we estimate the market value to be 20 psf, which generates a Sub-ERV of 273,540 per annum. (Market evidence is available in the data room). A3/Retail Tenancy Schedule Retail Upper Retail Upper Retail Upper Retail Upper Ground PF Collections Limited Next RR Current Rent 2, years yrly , , Ground Philpotts Limited 1, years yrly , , Ground Ground Spice Quarter (Nottingham) Limited t/a Peachy Keens Arfan Razak t/a Curry Lounge 6, years yrly , , , years yrly , , ,959 1, , ,540 Rent PSF ERV ERV psf Comments Rent review due 19th July 2014 (Notice not served) Philpotts recently acquired by Patisserie Valerie Surety from Mr Mingkam (5% discount for quantum on ERV) 80,000 deposit held. Recently assigned with Surety to Edward & Moore Ltd.

20 Retail A3/Retail Upper is a busy retail and leisure thoroughfare which links the city s business district with the main retail areas of the city. The Axis benefits from four open plan and well configured A3 and retail units which are let in accordance with the sub tenancy schedule below. Full financial information on the tenants is available in the data room. The units provide a total floor area of 13,959 sq.ft ranging in size from 1,965 sq.ft to 6,342 sq.ft. All four units are fitted out by the occupiers to a high standard. The passing rent across all four, ground floor units is currently 258,000 per annum equating to an overall rent of just 18 psf. Based on surrounding evidence we estimate the market value to be 20 psf, which generates a Sub-ERV of 273,540 per annum. (Market evidence is available in the data room). A3/Retail Tenancy Schedule Retail Upper Retail Upper Retail Upper Retail Upper Ground PF Collections Limited Next RR Current Rent 2, years yrly , , Ground Philpotts Limited 1, years yrly , , Ground Ground Spice Quarter (Nottingham) Limited t/a Peachy Keens Arfan Razak t/a Curry Lounge 6, years yrly , , , years yrly , , ,959 1, , ,540 Rent PSF ERV ERV psf Comments Rent review due 19th July 2014 (Notice not served) Philpotts recently acquired by Patisserie Valerie Surety from Mr Mingkam (5% discount for quantum on ERV) 80,000 deposit held. Recently assigned with Surety to Edward & Moore Ltd.

21 Retail A3/Retail Upper is a busy retail and leisure thoroughfare which links the city s business district with the main retail areas of the city. The Axis benefits from four open plan and well configured A3 and retail units which are let in accordance with the sub tenancy schedule below. Full financial information on the tenants is available in the data room. The units provide a total floor area of 13,959 sq.ft ranging in size from 1,965 sq.ft to 6,342 sq.ft. All four units are fitted out by the occupiers to a high standard. The passing rent across all four, ground floor units is currently 258,000 per annum equating to an overall rent of just 18 psf. Based on surrounding evidence we estimate the market value to be 20 psf, which generates a Sub-ERV of 273,540 per annum. (Market evidence is available in the data room). THE POYNT (OFFICES) PF COLLECTIONS PHILPOTTS PEACHY KEENS Ground floor (Upper ) ALEA CURRY LOUNGE ALEA A3/Retail Tenancy Schedule Retail Upper Retail Upper Retail Upper Retail Upper Ground PF Collections Limited Next RR Current Rent 2, years yrly , , Ground Philpotts Limited 1, years yrly , , Ground Ground Spice Quarter (Nottingham) Limited t/a Peachy Keens Arfan Razak t/a Curry Lounge 6, years yrly , , , years yrly , , ,959 1, , ,540 Rent PSF ERV ERV psf Comments Rent review due 19th July 2014 (Notice not served) Philpotts recently acquired by Patisserie Valerie Surety from Mr Mingkam (5% discount for quantum on ERV) 80,000 deposit held. Recently assigned with Surety to Edward & Moore Ltd.

22 Casino Casino The Alea Casino is the largest Casino in Nottingham with direct access from both Upper and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street. The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of 677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income. The lease is reviewed to open market value on all the main floor space (59,073 sq.ft) however the car parking rent currently 101,619 per annum is index linked based on a compound growth rate of 2.5% per annum. The car parking rent will therefore rise from 101,619 to 114,972 per annum in September The passing rent attributable to the main accommodation is 575,437 per annum and equates to only 9.75 psf. We believe this element of the rent is reversionary. The next review is due in September The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room). Casino Tenancy Schedule Casino The Axis The Axis Ground, 1st, 2nd London Clubs International Plc t/a Alea G , ,636 G - 2, , ,383 Next RR Current Rent - 25 years yrly , ,876 Rent PSF ERV ERV psf Comments Basement 22,454 2, years yrly , ,972 Fixed 81,527 7, , , (overall) Total floor area 59,073 sq.ft (GIA) including car parks Lease subject to 2.5% annual compound growth at rent review. 75 marked spaces- Tenant Valet Parking up to 95 spaces.

23 Casino Casino The Alea Casino is the largest Casino in Nottingham with direct access from both Upper and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street. The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of 677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income. The lease is reviewed to open market value on all the main floor space (59,073 sq.ft) however the car parking rent currently 101,619 per annum is index linked based on a compound growth rate of 2.5% per annum. The car parking rent will therefore rise from 101,619 to 114,972 per annum in September The passing rent attributable to the main accommodation is 575,437 per annum and equates to only 9.75 psf. We believe this element of the rent is reversionary. The next review is due in September The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room). Casino Tenancy Schedule Casino The Axis The Axis Ground, 1st, 2nd London Clubs International Plc t/a Alea G , ,636 G - 2, , ,383 Next RR Current Rent - 25 years yrly , ,876 Rent PSF ERV ERV psf Comments Basement 22,454 2, years yrly , ,972 Fixed 81,527 7, , , (overall) Total floor area 59,073 sq.ft (GIA) including car parks Lease subject to 2.5% annual compound growth at rent review. 75 marked spaces- Tenant Valet Parking up to 95 spaces.

24 Casino Casino The Alea Casino is the largest Casino in Nottingham with direct access from both Upper and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street. The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of 677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income. The lease is reviewed to open market value on all the main floor space (59,073 sq.ft) however the car parking rent currently 101,619 per annum is index linked based on a compound growth rate of 2.5% per annum. The car parking rent will therefore rise from 101,619 to 114,972 per annum in September The passing rent attributable to the main accommodation is 575,437 per annum and equates to only 9.75 psf. We believe this element of the rent is reversionary. The next review is due in September The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room). Casino Tenancy Schedule Casino The Axis The Axis Ground, 1st, 2nd London Clubs International Plc t/a Alea G , ,636 G - 2, , ,383 Next RR Current Rent - 25 years yrly , ,876 Rent PSF ERV ERV psf Comments Basement 22,454 2, years yrly , ,972 Fixed 81,527 7, , , (overall) Total floor area 59,073 sq.ft (GIA) including car parks Lease subject to 2.5% annual compound growth at rent review. 75 marked spaces- Tenant Valet Parking up to 95 spaces.

25 Casino Casino The Alea Casino is the largest Casino in Nottingham with direct access from both Upper and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street. The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of 677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income. The lease is reviewed to open market value on all the main floor space (59,073 sq.ft) however the car parking rent currently 101,619 per annum is index linked based on a compound growth rate of 2.5% per annum. The car parking rent will therefore rise from 101,619 to 114,972 per annum in September The passing rent attributable to the main accommodation is 575,437 per annum and equates to only 9.75 psf. We believe this element of the rent is reversionary. The next review is due in September The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room). Casino Tenancy Schedule Casino The Axis The Axis Ground, 1st, 2nd London Clubs International Plc t/a Alea G , ,636 G - 2, , ,383 Next RR Current Rent - 25 years yrly , ,876 Rent PSF ERV ERV psf Comments Basement 22,454 2, years yrly , ,972 Fixed 81,527 7, , , (overall) Total floor area 59,073 sq.ft (GIA) including car parks Lease subject to 2.5% annual compound growth at rent review. 75 marked spaces- Tenant Valet Parking up to 95 spaces.

26 Casino Casino Lower ground floor The Alea Casino is the largest Casino in Nottingham with direct access from both Upper and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street. The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of 677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income. THE POYNT The lease is reviewed to open market value on all the main floor space (59,073 sq.ft) however the car parking rent currently 101,619 per annum is index linked based on a compound growth rate of 2.5% per annum. The car parking rent will therefore rise from 101,619 to 114,972 per annum in September The passing rent attributable to the main accommodation is 575,437 per annum and equates to only 9.75 psf. We believe this element of the rent is reversionary. The next review is due in September The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room). CASINO ENTRANCE Casino Tenancy Schedule Casino The Axis The Axis Ground, 1st, 2nd London Clubs International Plc t/a Alea G , ,636 G - 2, , ,383 Next RR Current Rent - 25 years yrly , ,876 Rent PSF ERV ERV psf Comments Basement 22,454 2, years yrly , ,972 Fixed 81,527 7, , , (overall) Total floor area 59,073 sq.ft (GIA) including car parks Lease subject to 2.5% annual compound growth at rent review. 75 marked spaces- Tenant Valet Parking up to 95 spaces.

27 Casino Casino Upper ground floor The Alea Casino is the largest Casino in Nottingham with direct access from both Upper and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street. The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of 677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income. The lease is reviewed to open market value on all the main floor space (59,073 sq.ft) however the car parking rent currently 101,619 per annum is index linked based on a compound growth rate of 2.5% per annum. The car parking rent will therefore rise from 101,619 to 114,972 per annum in September The passing rent attributable to the main accommodation is 575,437 per annum and equates to only 9.75 psf. We believe this element of the rent is reversionary. The next review is due in September The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room). Marco Pierre White Resturant Ground floor access Casino Tenancy Schedule Casino The Axis The Axis Ground, 1st, 2nd London Clubs International Plc t/a Alea G , ,636 G - 2, , ,383 Next RR Current Rent - 25 years yrly , ,876 Rent PSF ERV ERV psf Comments Basement 22,454 2, years yrly , ,972 Fixed 81,527 7, , , (overall) Total floor area 59,073 sq.ft (GIA) including car parks Lease subject to 2.5% annual compound growth at rent review. 75 marked spaces- Tenant Valet Parking up to 95 spaces.

28 Casino Casino The Alea Casino is the largest Casino in Nottingham with direct access from both Upper and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street. First floor The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of 677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income. ALEA The lease is reviewed to open market value on all the main floor space (59,073 sq.ft) however the car parking rent currently 101,619 per annum is index linked based on a compound growth rate of 2.5% per annum. The car parking rent will therefore rise from 101,619 to 114,972 per annum in September The passing rent attributable to the main accommodation is 575,437 per annum and equates to only 9.75 psf. We believe this element of the rent is reversionary. The next review is due in September The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room). Casino Tenancy Schedule Casino The Axis The Axis Ground, 1st, 2nd London Clubs International Plc t/a Alea G , ,636 G - 2, , ,383 Next RR Current Rent - 25 years yrly , ,876 Rent PSF ERV ERV psf Comments Basement 22,454 2, years yrly , ,972 Fixed 81,527 7, , , (overall) Total floor area 59,073 sq.ft (GIA) including car parks Lease subject to 2.5% annual compound growth at rent review. 75 marked spaces- Tenant Valet Parking up to 95 spaces.

29 Casino Casino The Alea Casino is the largest Casino in Nottingham with direct access from both Upper and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street. The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of 677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income. The lease is reviewed to open market value on all the main floor space (59,073 sq.ft) however the car parking rent currently 101,619 per annum is index linked based on a compound growth rate of 2.5% per annum. The car parking rent will therefore rise from 101,619 to 114,972 per annum in September The passing rent attributable to the main accommodation is 575,437 per annum and equates to only 9.75 psf. We believe this element of the rent is reversionary. The next review is due in September The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room). ACCESS TO CAR PARK UPPER LEVEL LOWER LEVEL Casino Tenancy Schedule Casino The Axis The Axis Ground, 1st, 2nd London Clubs International Plc t/a Alea G , ,636 G - 2, , ,383 Next RR Current Rent - 25 years yrly , ,876 Rent PSF ERV ERV psf Comments Basement 22,454 2, years yrly , ,972 Fixed 81,527 7, , , (overall) Total floor area 59,073 sq.ft (GIA) including car parks Lease subject to 2.5% annual compound growth at rent review. 75 marked spaces- Tenant Valet Parking up to 95 spaces.

30 Offices Office Accommodation Part One - DSA With a large ground floor reception located on Upper, the Driving Standards Agency exclusively occupy the whole of the third and fourth floors of the Axis Building, on two separate leases. The accommodation which extends in total to 54,258 sq.ft provides modern Grade A open plan office accommodation split over two levels and centred around a large open plan atrium which helps unite the two levels into one large demise. Substantial alterations to link the two floors in this manner were undertaken by the current tenant prior to them taking occupation. The offices are fitted to a high standard including: raised access floors, lighting to CIBSE guidelines LG7, three pipe VRF heat recovery comfort cooling/heating systems and Very Good rating under BREEAM offices The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate. The overall rent for this accommodation breaks back to less than 12psf including carparking providing excellent scope for future growth. Rental comparables and service charge information is available in the data room. DSA Tenancy Schedule Offices Upper Offices Upper Third Fourth The Secretary of State for Communities & Local Government t/a DSA 26,056 2,421 Next RR Current Rent Rent PSF ERV ERV psf Comments 30 (Located 28,202 2,620 in City 15 years yrly , , Gate) 30 (Located in City Gate) 15 years yrly , , ,258 5, , ,692 Option to break subject to no less than 12 months written notice. The 3rd & 4th Floors are fully intergrated to form one open plan demise. Extensive alterations would be required by the tenant to separate the suites.

31 Offices DSA Office Accommodation Part One - DSA With a large ground floor reception located on Upper, the Driving Standards Agency exclusively occupy the whole of the third and fourth floors of the Axis Building, on two separate leases. The accommodation which extends in total to 54,258 sq.ft provides modern Grade A open plan office accommodation split over two levels and centred around a large open plan atrium which helps unite the two levels into one large demise. Substantial alterations to link the two floors in this manner were undertaken by the current tenant prior to them taking occupation. The offices are fitted to a high standard including: raised access floors, lighting to CIBSE guidelines LG7, three pipe VRF heat recovery comfort cooling/heating systems and Very Good rating under BREEAM offices The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate. The overall rent for this accommodation breaks back to less than 12psf including carparking providing excellent scope for future growth. Rental comparables and service charge information is available in the data room. DSA Tenancy Schedule Offices Upper Offices Upper Third Fourth The Secretary of State for Communities & Local Government t/a DSA 26,056 2,421 Next RR Current Rent Rent PSF ERV ERV psf Comments 30 (Located 28,202 2,620 in City 15 years yrly , , Gate) 30 (Located in City Gate) 15 years yrly , , ,258 5, , ,692 Option to break subject to no less than 12 months written notice. The 3rd & 4th Floors are fully intergrated to form one open plan demise. Extensive alterations would be required by the tenant to separate the suites.

32 Offices DSA Office Accommodation Part One - DSA With a large ground floor reception located on Upper, the Driving Standards Agency exclusively occupy the whole of the third and fourth floors of the Axis Building, on two separate leases. The accommodation which extends in total to 54,258 sq.ft provides modern Grade A open plan office accommodation split over two levels and centred around a large open plan atrium which helps unite the two levels into one large demise. Substantial alterations to link the two floors in this manner were undertaken by the current tenant prior to them taking occupation. The offices are fitted to a high standard including: raised access floors, lighting to CIBSE guidelines LG7, three pipe VRF heat recovery comfort cooling/heating systems and Very Good rating under BREEAM offices The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate. The overall rent for this accommodation breaks back to less than 12psf including carparking providing excellent scope for future growth. Rental comparables and service charge information is available in the data room. DSA Tenancy Schedule Offices Upper Offices Upper Third Fourth The Secretary of State for Communities & Local Government t/a DSA 26,056 2,421 Next RR Current Rent Rent PSF ERV ERV psf Comments 30 (Located 28,202 2,620 in City 15 years yrly , , Gate) 30 (Located in City Gate) 15 years yrly , , ,258 5, , ,692 Option to break subject to no less than 12 months written notice. The 3rd & 4th Floors are fully intergrated to form one open plan demise. Extensive alterations would be required by the tenant to separate the suites.

33 Offices DSA Office Accommodation Part One - DSA Ground Floor With a large ground floor reception located on Upper, the Driving Standards Agency exclusively occupy the whole of the third and fourth floors of the Axis Building, on two separate leases. The accommodation which extends in total to 54,258 sq.ft provides modern Grade A open plan office accommodation split over two levels and centred around a large open plan atrium which helps unite the two levels into one large demise. Substantial alterations to link the two floors in this manner were undertaken by the current tenant prior to them taking occupation. DSA The offices are fitted to a high standard including: raised access floors, lighting to CIBSE guidelines LG7, three pipe VRF heat recovery comfort cooling/heating systems and Very Good rating under BREEAM offices The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate. The overall rent for this accommodation breaks back to less than 12psf including carparking providing excellent scope for future growth. Rental comparables and service charge information is available in the data room. DSA DSA Tenancy Schedule Offices Upper Offices Upper Third Fourth The Secretary of State for Communities & Local Government t/a DSA 26,056 2,421 Next RR Current Rent Rent PSF ERV ERV psf Comments 30 (Located 28,202 2,620 in City 15 years yrly , , Gate) 30 (Located in City Gate) 15 years yrly , , ,258 5, , ,692 Option to break subject to no less than 12 months written notice. The 3rd & 4th Floors are fully intergrated to form one open plan demise. Extensive alterations would be required by the tenant to separate the suites.

34 Offices DSA Office Accommodation Part One - DSA Third floor With a large ground floor reception located on Upper, the Driving Standards Agency exclusively occupy the whole of the third and fourth floors of the Axis Building, on two separate leases. The accommodation which extends in total to 54,258 sq.ft provides modern Grade A open plan office accommodation split over two levels and centred around a large open plan atrium which helps unite the two levels into one large demise. Substantial alterations to link the two floors in this manner were undertaken by the current tenant prior to them taking occupation. DSA The offices are fitted to a high standard including: raised access floors, lighting to CIBSE guidelines LG7, three pipe VRF heat recovery comfort cooling/heating systems and Very Good rating under BREEAM offices The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate. The overall rent for this accommodation breaks back to less than 12psf including carparking providing excellent scope for future growth. Rental comparables and service charge information is available in the data room. DSA Tenancy Schedule Offices Upper Offices Upper Third Fourth The Secretary of State for Communities & Local Government t/a DSA 26,056 2,421 Next RR Current Rent Rent PSF ERV ERV psf Comments 30 (Located 28,202 2,620 in City 15 years yrly , , Gate) 30 (Located in City Gate) 15 years yrly , , ,258 5, , ,692 Option to break subject to no less than 12 months written notice. The 3rd & 4th Floors are fully intergrated to form one open plan demise. Extensive alterations would be required by the tenant to separate the suites.

35 Offices DSA Office Accommodation Part One - DSA Fourth floor With a large ground floor reception located on Upper, the Driving Standards Agency exclusively occupy the whole of the third and fourth floors of the Axis Building, on two separate leases. The accommodation which extends in total to 54,258 sq.ft provides modern Grade A open plan office accommodation split over two levels and centred around a large open plan atrium which helps unite the two levels into one large demise. Substantial alterations to link the two floors in this manner were undertaken by the current tenant prior to them taking occupation. DSA The offices are fitted to a high standard including: raised access floors, lighting to CIBSE guidelines LG7, three pipe VRF heat recovery comfort cooling/heating systems and Very Good rating under BREEAM offices The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate. The overall rent for this accommodation breaks back to less than 12psf including carparking providing excellent scope for future growth. Rental comparables and service charge information is available in the data room. DSA Tenancy Schedule Offices Upper Offices Upper Third Fourth The Secretary of State for Communities & Local Government t/a DSA 26,056 2,421 Next RR Current Rent Rent PSF ERV ERV psf Comments 30 (Located 28,202 2,620 in City 15 years yrly , , Gate) 30 (Located in City Gate) 15 years yrly , , ,258 5, , ,692 Option to break subject to no less than 12 months written notice. The 3rd & 4th Floors are fully intergrated to form one open plan demise. Extensive alterations would be required by the tenant to separate the suites.

36 Offices The Poynt Office Accommodation Part Two - The Poynt The Poynt is a self-contained office building facing onto Wollaton Street and arranged on basement, ground and four upper floor levels. The building was fully refurbished and integrated into the Axis development in It has recently become vacant. The accommodation provides ground floor reception, open plan floor plates, suspended ceilings, raised floors, air conditioning and an 8 person passenger lift to all floors. Service charge costs across the property are very low. The Poynt can be occupied as one demise, with St Georges Hall and is directly linked at levels two and three. However it is likely to re-let on a floor by floor basis. The offices benefit from 17 car spaces in the adjoining City Gate. The Poynt was vacated by Tenon (now Baker Tilley) in July 2014 and will be subject to a Henry Boot Plc company rent rates & service charge guarantee as set out in the schedule below. Henry Boot are undertaking a refurbishment of the space which will be complete by the end of September Letting details are available in the data room. Floor Level Sq.m Sq.ft Basement ,398 G , , , , , ,403 Total ,057 The Poynt Tenancy Schedule The Poynt Wollaton Street Basement, Ground, 4 Uppers Vacant (Subject to Henry Boot PLC guarantee) Next RR Current Rent Rent PSF ERV ERV psf Comments Subject to a two year rent, rates, and 17 (Located service charge guarantee, 12 psf 22,057 2,049 in City 2 years Completion , , including carspaces 1000 pcs and Gate) 5 psf storage space. 22,057 2, , ,300

37 Offices The Poynt Office Accommodation Part Two - The Poynt Ground floor The Poynt is a self-contained office building facing onto Wollaton Street and arranged on basement, ground and four upper floor levels. The building was fully refurbished and integrated into the Axis development in It has recently become vacant. The accommodation provides ground floor reception, open plan floor plates, suspended ceilings, raised floors, air conditioning and an 8 person passenger lift to all floors. Service charge costs across the property are very low. The Poynt can be occupied as one demise, with St Georges Hall and is directly linked at levels two and three. However it is likely to re-let on a floor by floor basis. The offices benefit from 17 car spaces in the adjoining City Gate. The Poynt was vacated by Tenon (now Baker Tilley) in July 2014 and will be subject to a Henry Boot Plc company rent rates & service charge guarantee as set out in the schedule below. Henry Boot are undertaking a refurbishment of the space which will be complete by the end of September Letting details are available in the data room. THE POYNT DSA The Poynt Tenancy Schedule The Poynt Wollaton Street Basement, Ground, 4 Uppers Vacant (Subject to Henry Boot PLC guarantee) Next RR Current Rent Rent PSF ERV ERV psf Comments Subject to a two year rent, rates, and 17 (Located service charge guarantee, 12 psf 22,057 2,049 in City 2 years Completion , , including carspaces 1000 pcs and Gate) 5 psf storage space. 22,057 2, , ,300

38 Offices The Poynt Office Accommodation Part Two - The Poynt Typical floor plan The Poynt is a self-contained office building facing onto Wollaton Street and arranged on basement, ground and four upper floor levels. The building was fully refurbished and integrated into the Axis development in It has recently become vacant. The accommodation provides ground floor reception, open plan floor plates, suspended ceilings, raised floors, air conditioning and an 8 person passenger lift to all floors. Service charge costs across the property are very low. The Poynt can be occupied as one demise, with St Georges Hall and is directly linked at levels two and three. However it is likely to re-let on a floor by floor basis. The offices benefit from 17 car spaces in the adjoining City Gate. The Poynt was vacated by Tenon (now Baker Tilley) in July 2014 and will be subject to a Henry Boot Plc company rent rates & service charge guarantee as set out in the schedule below. Henry Boot are undertaking a refurbishment of the space which will be complete by the end of September Letting details are available in the data room. THE POYNT DSA The Poynt Tenancy Schedule The Poynt Wollaton Street Basement, Ground, 4 Uppers Vacant (Subject to Henry Boot PLC guarantee) Next RR Current Rent Rent PSF ERV ERV psf Comments Subject to a two year rent, rates, and 17 (Located service charge guarantee, 12 psf 22,057 2,049 in City 2 years Completion , , including carspaces 1000 pcs and Gate) 5 psf storage space. 22,057 2, , ,300

39 Offices St George s Hall Office Accommodation Part Three - St Georges Hall St Georges Hall is a self-contained period office building with its own entrance off Upper and is arranged over first, second third and fourth levels. The accommodation can connect (if required) directly to the Poynt at second and third floor level. The property retains many of its original features but has been tastefully refurbished to provide modern open plan office accommodation. The space is currently vacant having been recently vacated by Tenon (now Baker Tilley). The space is fully carpeted with feature lighting, comfort cooling, carpeting and LG3 lighting. The offices benefit from 3 car parking spaces available in the adjoining City Gate. The accommodation will be subject to a Henry Boot Plc company rent, rates and service charge guarantee as set out in the schedule below. Level Floor Sq.m Sq.ft , , ,288 Total ,504 Letting details are available in the data room. St Georges Hall Tenancy Schedule St Georges Hall Upper Parliament Street Ground (Ent), 1st, 2nd & 3rd Vacant (Subject to Henry Boot PLC guarantee) Next RR Current Rent Rent PSF ERV ERV psf Comments 3 (Located Subject to a two year rent, rates, and 6, in City 2 years Completion , , service charge guarantee, 12psf Gate) including 3 car spaces. 6, ,048 78,048

40 Offices St George s Hall Office Accommodation Part Three - St Georges Hall Ground floor St Georges Hall is a self-contained period office building with its own entrance off Upper and is arranged over first, second third and fourth levels. The accommodation can connect (if required) directly to the Poynt at second and third floor level. The property retains many of its original features but has been tastefully refurbished to provide modern open plan office accommodation. The space is currently vacant having been recently vacated by Tenon (now Baker Tilley). The space is fully carpeted with feature lighting, comfort cooling, carpeting and LG3 lighting. The offices benefit from 3 car parking spaces available in the adjoining City Gate. The accommodation will be subject to a Henry Boot Plc company rent, rates and service charge guarantee as set out in the schedule below. Letting details are available in the data room. St Georges Hall Tenancy Schedule St Georges Hall Upper Parliament Street Ground (Ent), 1st, 2nd & 3rd Vacant (Subject to Henry Boot PLC guarantee) Next RR Current Rent Rent PSF ERV ERV psf Comments 3 (Located Subject to a two year rent, rates, and 6, in City 2 years Completion , , service charge guarantee, 12psf Gate) including 3 car spaces. 6, ,048 78,048

41 Offices St George s Hall Office Accommodation Part Three - St Georges Hall Third floor St Georges Hall is a self-contained period office building with its own entrance off Upper and is arranged over first, second third and fourth levels. The accommodation can connect (if required) directly to the Poynt at second and third floor level. The property retains many of its original features but has been tastefully refurbished to provide modern open plan office accommodation. The space is currently vacant having been recently vacated by Tenon (now Baker Tilley). The space is fully carpeted with feature lighting, comfort cooling, carpeting and LG3 lighting. The offices benefit from 3 car parking spaces available in the adjoining City Gate. The accommodation will be subject to a Henry Boot Plc company rent, rates and service charge guarantee as set out in the schedule below. Letting details are available in the data room. St Georges Hall Tenancy Schedule St Georges Hall Upper Parliament Street Ground (Ent), 1st, 2nd & 3rd Vacant (Subject to Henry Boot PLC guarantee) Next RR Current Rent Rent PSF ERV ERV psf Comments 3 (Located Subject to a two year rent, rates, and 6, in City 2 years Completion , , service charge guarantee, 12psf Gate) including 3 car spaces. 6, ,048 78,048

42 Residential Residential Apartments Located at roof level and offering panoramic views of the Nottingham skyline are 18 two bed duplex residential apartments, all of which have been sold off on 125 year leases to a variety of occupiers and investors. There are 18 separate ground rents producing a total income of 3,600 per annum ( 200 per apartment). The apartments have their own dedicated entrance off Wollaton Street along with private lobby and lift access. At the current time the vendor manage the individual ground rents directly and the services relevant to the apartments form part of the wider service charge provision. A copy of the service charge accounts are available in the data room. Residential Tenancy Schedule Residential Ground Rent & Management Lease Roof Level Henry Boot Developments Ltd Next RR Current Rent Rent PSF ERV ERV psf Comments 14,375 1, years , , ,375 1,335 3,600 3,600 A full schedule of under tenants is available in the data room

43 Residential Residential Apartments Duplex Apartments Plan Ground Floor Entrance > North Facing Wollaton Street Located at roof level and offering panoramic views of the Nottingham skyline are 18 two bed duplex residential apartments, all of which have been sold off on 125 year leases to a variety of occupiers and investors. There are 18 separate ground rents producing a total income of 3,600 per annum ( 200 per apartment). The apartments have their own dedicated entrance off Wollaton Street along with private lobby and lift access Common At the current time the vendor manage the individual ground rents directly and the services relevant to the apartments form part of the wider service charge provision. A copy of the service charge accounts are available in the data room. Fifth Floor - Lower Level Ground Floor Entrance South Facing North Facing Wollaton Street > Sixth Floor - Upper Level South Facing

44 Long Leasehold - City Gate Tollhouse Hill Along with the freehold interest of The Axis scheme, the investment is offered with the benefit of an adjacent long leasehold interest in a purpose built underground car park which forms part of the Multi Storey City Gate Tollhouse Hill office scheme. The car park is located immediately adjacent to the Axis with the primary entrance off Wollaton Street. The lease is for a term of years with effect from 25th March 1976 at a peppercorn rent. The car park itself provides 98 well configured spaces a full layout plan is attached. Layout Plan

45 Long Leasehold - City Gate Tollhouse Hill Along with the freehold interest of The Axis scheme, the investment is offered with the benefit of an adjacent long leasehold interest in a purpose built underground car park which forms part of the Multi Storey City Gate Tollhouse Hill office scheme. The car park is located immediately adjacent to the Axis with the primary entrance off Wollaton Street. The lease is for a term of years with effect from 25th March 1976 at a peppercorn rent. The car park itself provides 98 well configured spaces a full layout plan is attached. Title Plan

46 Tenancy Tenancy Schedule Allocation Lease WEF Expiry Pattern Years Next RR Current Rent Rent PSF ERV ERV psf Comments Retail Upper Ground PF Collections Limited 2, years yrly , , Rent review notice due 19th July 2014 not served. Retail Upper Ground Philpotts Limited 1, years yrly , , Philpotts recently acquired by Patisserie Valerie Restaurant Upper Ground Spice Quarter (Nottingham) Limited t/a Peachy Keens 6, years yrly , , Surety from Mr Mingkam (5% discount for quantum on ERV) ( 80,000 deposit held) Restaurant Upper Ground Arfan Razak t/a Curry Lounge 3, years yrly , , Lease recently assigned to Edward & Moore Ltd with a director surity. Casino The Axis Ground, 1st, 2nd London Clubs International Plc t/a Alea (single lease) G - 2, , ,383 G , , years yrly ,437 The Axis Basement 22,454 2, years yrly ,619 Fixed 114,972 Fixed 9.74 (overall) 708, (overall) Total floor area 59,073 sq.ft (GIA) excluding basement car parks Rental attributable to car park demise subject to 2.5% annual compound growth at rent review. Offices Upper Third The Secretary of State for Communities & Local Government t/a DSA 28,202 2, (Located in City Gate) 15 years yrly , , Offices Upper Fourth The Secretary of State for Communities & Local Government t/a DSA 26,056 2, (Located in City Gate) 15 years yrly , , Option to break (12mths notice). 3rd/4th Floors fully intergrated forming open plan demise. Extensive alterations required to separate the floors. The Poynt Wollaton Street Basement, Ground, 4 Uppers Vacant (Subject to Henry Boot PLC guarantee) 22,057 2, (Located in City Gate) 2 years From completion of purchase , , Subject to a two year rent, rates, and service charge guarantee, 12 psf including carspaces and 5 psf storage space. St Georges Hall Upper Ground( Ent), 1st, 2nd & 3rd Vacant (Subject to Henry Boot PLC guarantee) 6, (Located in City Gate) 2 years From completion of purchase , , Subject to a two year rent, rates, and service charge guarantee, 12 psf including carspaces. Residential Ground Rent & Management Lease Roof Level Henry Boot Developments Ltd 14,375 1, years , , A full schedule of undertenants is available in the data room 192,680 17, ,894,696 2,057,028 City Gate, Tollhouse Hill, Basement Henry Boot Developments Ltd 73, years Peppercorn Accessed off Wollaton Street the lease includes the entire upper basement level and provides car parking for 98 cars

47 Proposal Proposal Data room A comprehensive data room has been created from which interested parties can download or view leases, title information, floor plans, tenant accounts, EPC certificates, and other relevant documentation. Click here to access EPC A full copy of the EPC (rated within band E) can be viewed in the data room. Warranties A comprehensive package of design and construction warranties will be assigned to the purchaser. VAT The property is elected for VAT. It is anticipated that the transaction will be treated as a Transfer of a Going Concern. Proposal We are seeking offers for our clients interest in excess of 26,000,000 (Twenty Six Million Pounds) subject to contract and exclusive of VAT. A purchase at this level would provide a net initial yield of 6.9% rising to 7.5% with an equivalent yield of 7.77% (quarterly in advance) assuming normal acquisition costs.

48 Contact Contact Us For further information or to arrange an inspection please contact: Chris Jones T: Chris Dudhill T: heb Jonathan Emmerson T: M: Information contained within this ibrochure and supporting marketing material is, to the best of our knowledge, correct at the time of writing. Interested parties are advised to check all aspects pertaining to any proposal prior to entering into negotiations. Christopher Dee & Heb Surveyors LLP and its consultants will not be held liable for any expense or loss incurred in the preparation of response documents and will not be bound to accept any proposal. IMPORTANT: These particulars do not form part of any contract. Neither Christopher Dee & Heb Surveyors LLP nor any of its directors, employees or agents is authorised to give or make any warranty or representation on behalf of any part. Whilst information and particulars are given in good faith, intending purchasers or tenants must satisfy themselves independently as to the accuracy of all matters on which they intend to rely. Some photography and images in this brochure are representative only and have been purchased by Christopher Dee and Heb Surveyors LLP. All negotiations are subject to contract. Designed by i-brochure.com. Ph: September 2014.