THE DODECA. 01 BEVERLEY 14 Toll Gavey, Beverley HU17 9AJ A PORTFOLIO OF TWELVE HIGH STREET RETAIL ASSETS LOCATION DESCRIPTION

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1 01 BEVERLEY 14 Toll Gavey, Beverley HU17 9AJ LOCATION Beverley is an affluent market town located 8 miles north of Hull and 20 miles south east of York. The has excellent transport links with connections to the M62 approximately 10 miles to the south west and York located to the north west via the A1079. Beverley train station provides regular trains to Hull and Doncaster which in turn provide direct trains to London Kings Cross, Birmingham and Manchester. The property occupies a prime location in close proximity to New Look, Costa Coffee, WH Smith and Superdrug. DESCRIPTION The property is a 3 storey mid terrace period building of brick elevations under a pitched slate roof. The property provides ground floor sales, first floor ancillary and a second floor 2 bedroom THE DODECA flat. The upper floors are self-contained and accessed via a staircase from the adjacent FLOOR AREAS alleyway. Servicing is off Toll Gavel. The property is Listed and is located in a Conservation Area. HIGH Floor STREET PORTFOLIO Use Area ft 2 Ground Sales 1,365 Ground ITZA 676 units First Ancillary 715 Second Void - Total 2,080 A PORTFOLIO OF TWELVE HIGH STREET RETAIL ASSETS 1 THE DODECA HIGH STREET PORTFOLIO

2 INVESTMENT SUMMARY Located in 12 strong affluent market towns Let to established A1 national retailers Rebased rents offering good potential for rental growth Well-proportioned retail units Institutional F.R.I. leases Town Tenant Expiry Current Rent pa Initial Yield Price (after costs) Beverley County Casuals Ltd , % 1,100,000 Congleton Boots UK Ltd (TOB ) 46, % 630,000 Grantham Lloyds TSB Bank PLC , % 1,225,000 Great Driffield Greggs PLC TBC 20, % 280,000 Ledbury Boots Uk Ltd , % 570,000 Oakham Boots UK Ltd , % 555,000 Retford WH Smith Retail Holdings Ltd , % 500,000 Sleaford Superdrug Stores Plc , % 425,000 Uttoxeter Specsavers Optical Superstores Ltd Whitby Costa Ltd (TOB ) , % 345,000 50, % 680,000 Wigston Superdrug Stores PLC , % 510,000 Freehold Wokingham Nero Holdings Ltd ,000 (assuming settlement of review) 6.0% 1,180,000 Total 559,900 8,000,000 We are seeking offers in the region of 8,000,000 (Eight Million Pounds) reflecting a net initial of 6.56% assuming purchaser s costs of 6.68% 2 THE DODECA HIGH STREET PORTFOLIO

3 PROPERTY LOCATIONS 01 BEVERLEY 14 Toll Gavey, Beverley HU17 9AJ 05 LEDBURY 9 High Street, Ledbury HR8 1DS 09 UTTOXETER 5 High Street, Uttoxeter ST14 7HN 02 CONGLETON Bridge Street, Congleton CW12 1AY 06 OAKHAM 18 High Street, Oakham LE15 6AL 10 WHITBY Baxtergate, Whitby YO21 1BW GRANTHAM 42 St Peter s Hill, Grantham NG31 6QF 07 RETFORD 40 Carolgate, Retford DN22 6DY 11 WIGSTON 18-18a Bell Street, Wigston LE18 1AD GREAT DRIFFIELD 53A/54 Middle Street, Great Driffield YO25 6PS 08 SLEAFORD Southgate, Sleaford NG34 7SY 12 WOKINGHAM 3-5 Peach Street, Wokingham RG40 1YJ THE DODECA HIGH STREET PORTFOLIO 3

4 01 BEVERLEY 14 Toll Gavey, Beverley HU17 9AJ LOCATION Beverley is an affluent market town located 8 miles north of Hull and 20 miles south east of York. The town has excellent transport links with connections to the M62 approximately 10 miles to the south west and York located to the north west via the A1079. Beverley train station provides regular trains to Hull and Doncaster which in turn provide direct trains to London Kings Cross, Birmingham and Manchester. The property occupies a prime location in close proximity to New Look, Costa Coffee, WH Smith and Superdrug. DESCRIPTION The property is a 3 storey mid terrace period building of brick elevations under a pitched slate roof. The property provides ground floor sales, first floor ancillary and a second floor 2 bedroom flat. The upper floors are self-contained and accessed via a staircase from the adjacent alleyway. Servicing is off Toll Gavel. The property is Listed and is located in a Conservation Area. FLOOR AREAS Floor Use Area ft 2 Ground Sales 1,258 Ground ITZA 733 units Ground Ancillary 77 First Ancillary 432 First Offices 651 Second 2-bedroom Flat not inspected 4 THE DODECA HIGH STREET PORTFOLIO

5 01 BEVERLEY 14 Toll Gavey, Beverley HU17 9AJ TENURE Freehold. TENANCY The property is let to Country Casuals Limited on a 5 year FRI lease from 18th July 2014 at a rent of 70,000 per annum. COVENANT Country Casuals Limited was founded in 1970, providing high quality women clothing with 109 UK stores. Country Casuals is part of the Austin Reed Group which also includes Viyella. Tenant has filed for administration, however there is good interest in the lease. Further information upon request. Year Ending 31/01/13 31/01/14 31/01/15 Turnover 44,920,404 39,785,628 34,494,873 Pre Tax Profit 1,235,166 3,403,568 3,381,581 Net Worth 10,947,534 12,357,794 10,083,895 RENTAL ANALYSIS The current rent equates to approximately ZA assuming 5 psf on the ground floor storage 4.50 psf for first floor ancillary, first floor offices at 6,500 per annum (10 psf) and the second floor flat at 450 pcm, less a 15% management discount. Rents in Beverley prevail in excess of 100 ZA and we are therefore of the opinion that the passing rent offers excellent rental growth prospects. PRICE Offers in the region of 1,100,000 (One Million One Hundred Thousand Pounds) reflecting a net initial yield of 6% after allowing for purchaser s costs at 5.9%. THE DODECA HIGH STREET PORTFOLIO 5

6 02 CONGLETON Bridge Street, Congleton CW12 1AY LOCATION Congleton is an affluent Cheshire market town, with a population of approximately 64,000 within a 5-mile radius, located 21 miles south of Manchester. The town is adjacent to the A34, one of the main arterial roads into Manchester City centre along with the A534 providing direct access to the M6 Motorway. There are regular rail services to Manchester and Stoke. The property is located in a prime location opposite the Bridgestone Shopping Centre and in close proximity to Superdrug, Costa Coffee & Argos. DESCRIPTION The property comprises a 3 storey mid terrace building of brick elevations under a pitched slate roof providing 2 retail premises, one of which is sublet. Servicing is off Bridge Street. FLOOR AREAS Floor Use Area ft 2 Ground Sales 3,842 Ground ITZA 1,637 units First Ancillary 3,771 Second Unused - 6 THE DODECA HIGH STREET PORTFOLIO

7 02 CONGLETON Bridge Street, Congleton CW12 1AY TENURE Freehold. TENANCY The property is let to Boots UK Limited on a 10-year FRI lease from 13th January 2015 at a rent of 46,500 per annum subject to an upward only rent review and tenant option to break at the expiry of the 5th year. The property is sub-let in part to Thomas Cook. Details upon request. COVENANT Boots UK Limited is the UK s leading pharmacy, health and beauty retailer with over 2,500 stores. Year Ending 31/03/12 31/03/13 31/03/14 Turnover 6,354,000,000 6,204,000,000 6,340,000,000 Pre Tax Profit 240,000, ,000, ,000,000 Net Worth 234,000, ,000, ,000,000 RENTAL ANALYSIS The rent equates to approximately ZA assuming 3.00 psf on the first floor store. The previous rent was 71,500 pa. We are of the opinion that the new rent offers good prospects of rental growth. PRICE Offers in the region of 630,000 (Six Hundred and Thirty Thousand Pounds) which reflects a net initial yield of 7% after allowing for purchaser s costs at 5.2%. THE DODECA HIGH STREET PORTFOLIO 7

8 03 GRANTHAM 42 St Peter s Hill, Grantham NG31 6QF LOCATION Grantham is a historic market town, with a population of approximately 38,000, located 26 miles south of Lincoln and 24 miles east of Nottingham. The town has good communication links being adjacent to the A1, and the A52 which provides access to Nottingham and the M1. There are regular rail services to London Kings Cross with a journey time of an hour. The property is in a prime location adjacent to the entrance to the Isaac Newton Centre the town s principle shopping centre. The property is adjacent to Savers and a new Prezzo restaurant together with Boots, Bon Marche and Santander. DESCRIPTION The property comprises three storey mid terrace building having a ground floor sales area with ancillary accommodation to the basement and upper parts. The property benefits from servicing and car parking via Greenwood Row. It is Grade II Listed and is located in a Conservation Area. FLOOR AREAS Floor Use Area ft 2 Ground Floor Sales 2,627 ITZA ITZA 1,370 Ground Floor Office 284 Basement Ancillary 1,890 Basement Vaults 204 First Floor Ancillary 2,795 Second Floor Ancillary 2,438 8 THE DODECA HIGH STREET PORTFOLIO

9 03 GRANTHAM 42 St Peter s Hill, Grantham NG31 6QF TENURE Freehold. TENANCY The property is let to Lloyds TSB Bank PLC on an FRI lease from the 25th December 1987 for a term of 35 years subject to 5 yearly upwards only rent reviews at a rent of 90,000 per annum. COVENANT Lloyds bank is the UK s leading commercial bank and is a wholly owned subsidiary of Lloyds Banking Group plc. In September 2013 Lloyds TSB became two separate banks. Year Ending 31st December st December st December 2014 Pre-tax Profit (474,000,000) 894,000,000 2,289,000,000 Total Net Worth 36,793,000,000 34,109,000,000 39,827,000,000 RENTAL ANALYSIS The current rent reflects approximately Zone A after applying 5 psf to the ground floor office, 2 psf to the basement ancillary, 0.50 to the basement vaults, 3.50 psf to the first floor ancillary and 2 psf for the second floor. PRICE Offers in the region of 1,225,000 (One Million Two Hundred and Twenty Five Thousand Pounds) reflecting a net initial yield of 6.93% after allowing for purchaser s costs at 5.99%. THE DODECA HIGH STREET PORTFOLIO 9

10 04 GREAT DRIFFIELD 53A/54 Middle Street, Great Driffield YO25 6PS LOCATION Great Driffield is an attractive market town with a population of 15,000 located in the Yorkshire Wolds, 29 miles east of York. There are regular trains to Hull and Scarborough which in turn provide direct trains to London Kings Cross, Birmingham and Manchester. The property is situated in a prime location adjacent to Superdrug and Cooplands Bakery and in close proximity to Boots, M&CO and WH Smith. DESCRIPTION The property comprises a 3 storey mid terrace period of brick elevations under a pitched slate roof, providing ground floor sales and ancillary accommodation above. The premises benefit from rear servicing off Harland Lane. The property is located in a Conservation Area. FLOOR AREAS Floor Use Area ft 2 Ground Sales 1,365 Ground ITZA 676 units First Ancillary 715 Second Void - 10 THE DODECA HIGH STREET PORTFOLIO

11 04 GREAT DRIFFIELD 53A/54 Middle Street, Great Driffield YO25 6PS TENURE Freehold. TENANCY The property is let to Greggs PLC on a new 10 year FRI lease at a rent of 20,000 per annum subject to an upward only rent review and a tenant option to break at the expiry of the 5th year. COVENANT The company currently has 1,670 shops and employing over 20,000 people. Year Ending 29/12/13 28/12/14 03/01/15 Turnover 734,502, ,379, ,961,000 Pre Tax Profit 53,342,000 33,152,000 49,743,000 Net Worth 226,646, ,165, ,982,000 RENTAL ANALYSIS The rent equates to approximately ZA assuming 2.50 psf on the first floor. PRICE Offers in the region of 280,000 (Two Hundred and Eighty Thousand Pounds) reflecting a net initial yield of 7% after allowing for purchaser s costs at 3.2%. THE DODECA HIGH STREET PORTFOLIO 11

12 05 LEDBURY 9 High Street, Ledbury HR8 1DS LOCATION Ledbury is an historic market town located 17 miles east of Hereford, 22 miles north west of Cheltenham and is a busy tourist destination. The M50 motorway is situated approximately 4 miles south of the town which in turn leads to the M5 motorway. There are regular train services to Hereford, Worcester and Birmingham. The property occupies a prime location opposite the renowned Feathers Hotel and in close proximity to Greggs, Clarks and Lloyds Bank. DESCRIPTION The property is Grade II Listed, comprising a 3 storey mid terrace period building providing open plan sales to the ground floor with ancillary storage on the upper parts. Servicing is off the High Street. FLOOR AREAS Floor Use Area ft 2 Ground Sales 2,447 Ground ITZA 1,050 units First Ancillary 1,590 Second Unused - 12 THE DODECA HIGH STREET PORTFOLIO

13 05 LEDBURY 9 High Street, Ledbury HR8 1DS TENURE Freehold. TENANCY The property is let to Boots UK Limited on a 25 year FRI lease from 25th March 1993 at a rent of 36,000 per annum. COVENANT Boots UK Limited is the UK s leading pharmacy, health and beauty retailer with over 2,500 stores. Year Ending 31/03/12 31/03/13 31/03/14 Turnover 6,354,000,000 6,204,000,000 6,340,000,000 Pre Tax Profit 240,000, ,000, ,000,000 Net Worth 234,000, ,000, ,000,000 RENTAL ANALYSIS The Rent equates to approximately ZA assuming 2.50 psf on the first floor storage and no value to the second floor. PRICE Offers in the region of 570,000 (Five Hundred and Seventy Thousand Pounds) which reflects a net initial yield of 6% after allowing for purchaser s costs at 5.1%. THE DODECA HIGH STREET PORTFOLIO 13

14 06 OAKHAM 18 High Street, Oakham LE15 6AL LOCATION Oakham is an affluent market town with a population of approximately 10,000 people located in the heart of Rutland, 25 miles east of Leicester and 30 miles south west of Nottingham. The town is located close to the A1 with regular rail services to Peterborough and Leicester. It is a popular tourist destination with both Rutland Water and Oakham Castle nearby. The property occupies a prime central location close to a variety of independent retailers as well as Carphone Warehouse, Stead & Simpson and HSBC Bank. DESCRIPTION The property comprises a 2 storey mid terrace building of brick elevations under a pitched roof together with a single storey extension at the rear. The ground floor provides open plan sales which interconnects with the adjoining property, High Street. The first floor is self-contained and accessed from High Street providing office accommodation. The shop services via South Street to the rear. FLOOR AREAS Floor Use Area ft 2 Ground Sales 1,752 Ground ITZA 732 units First Office THE DODECA HIGH STREET PORTFOLIO

15 06 OAKHAM 18 High Street, Oakham LE15 6AL TENURE Freehold. TENANCY The property is let to Boots UK Limited on a 25 year FRI lease from 25th March 1993 at a rent of 35,000 per annum. COVENANT Boots UK Limited is the UK s leading pharmacy-led health and beauty retailer with over 2,500 stores. Year Ending 31/03/12 31/03/13 31/03/14 Turnover 6,354,000,000 6,204,000,000 6,340,000,000 Pre Tax Profit 240,000, ,000, ,000,000 Net Worth 234,000, ,000, ,000,000 RENTAL ANALYSIS The rent equates to approximately ZA assuming first floor offices at 3,000 per annum less a 15% management. PRICE Offers in the region of 555,000 (Five Hundred and Fifty Five Thousand Pounds) reflecting a net initial yield of 6% after allowing for purchaser s costs at 5%. THE DODECA HIGH STREET PORTFOLIO 15

16 07 RETFORD 40 Carolgate, Retford DN22 6DY LOCATION Retford is an attractive market town with a population of 22,000 people, located 35 miles east of Sheffield and 23 miles north-west of Lincoln. The town is well located close to the A1 and the A57. It provides an important interchange of the East Coast line between London and Edinburgh interlinking east / west with Lincoln and Sheffield. The property is located in a prime location adjacent to Boots. Other nearby occupiers include Edinburgh Woolen Mill, Poundland, Peacocks, Card Factory and Shoe Zone. DESCRIPTION The property comprises a 2 storey mid terrace building of brick elevations under a pitched roof with a single storey extension at the rear. The ground floor provides open plan sales with further sales and ancillary accommodation on the first floor. The property has the benefit of rear servicing off West Street. FLOOR AREAS Floor Use Area ft 2 Ground Sales 2,759 Ground ITZA 1,110 units First Sales 894 First Ancillary 1, THE DODECA HIGH STREET PORTFOLIO

17 07 RETFORD 40 Carolgate, Retford DN22 6DY TENURE Freehold. TENANCY The property is let to WH Smith Retail Holdings Limited on a 5 year FRI lease from 1st September 2015 at a current rent of 36,500 per annum. COVENANT WH Smith one is the UK s longest established retailer, operating from 1,200 stores nationwide. Year Ending 31/08/12 31/08/13 31/08/14 Turnover 172,329, ,180, ,447,000 Pre Tax Profit (18,438,000) 140,968, ,938,000 Net Worth 419,072, ,409, ,645,000 RENTAL ANALYSIS The rent equates to approximately ZA assuming A/12 for the first floor sales and 3.00 psf on the first floor storage. The previous rent was 58,250 per annum. The rebased rent offers good prospects of rental growth. PRICE Offers in the region of 500,000 (Five Hundred Thousand Pounds) which reflects a net initial yield of 7% after allowing for purchaser s costs at 4.8%. THE DODECA HIGH STREET PORTFOLIO 17

18 08 SLEAFORD Southgate, Sleaford NG34 7SY LOCATION Sleaford is a historic Lincolnshire market town, with a population of approximately 17,500, located 17 miles south of Lincoln and 41 miles east of Nottingham. The A15 to the north of the town links with Lincoln and the A17 to the north west of the town links to the A46 which in turn leads to Nottingham. Sleaford train station provides regular trains to Nottingham. The property is situated in a prime location close to Boots, WH Smith, M&CO and Halifax. DESCRIPTION The property comprises a Grade II, 3 storey mid terrace building of brick elevations under a pitched roof providing sales on the ground floor with first floor ancillary. The second floor is unused. The shop loads from Southgate. FLOOR AREAS Floor Use Area ft 2 Ground Sales 2,814 Ground ITZA 1,053 units First Ancillary 1,230 Second Unused - 18 THE DODECA HIGH STREET PORTFOLIO

19 08 SLEAFORD Southgate, Sleaford NG34 7SY TENURE Freehold. TENANCY The property is let to Superdrug Stores Plc on a 5 year FRI and insuring lease from 8th February 2013 at a current rent of 35,300 per annum. COVENANT Superdrug Stores Plc is the second-largest UK beauty and health retailer, operating over 800 stores. Year Ending 29/12/12 28/12/13 27/12/14 Turnover 1,021,021,000 1,010,212,000 1,058,047,000 Pre Tax Profit (3,977,000) 28,982,000 38,044,000 Net Worth 106,905, ,235, ,513,000 RENTAL ANALYSIS The rent equates to approximately ZA assuming 2.50 psf on the first floor storage. PRICE Offers in the region of 425,000 (Four Hundred and Twenty Five Thousand Pounds) which reflects a net initial yield of 8% after allowing for purchaser s costs at 4.2%. THE DODECA HIGH STREET PORTFOLIO 19

20 09 UTTOXETER 5 High Street, Uttoxeter ST14 7HN LOCATION Uttoxeter is a prosperous Staffordshire market town with a population of 15,000 people, located 14 miles north east of Stafford and 20 miles west of Derby. The recently upgraded A50 town provides swift access to the M1 (26 miles) and junctions 15 and 16 of the M6 (20 miles). There are regular rail services to Crewe and Derby, with an average journey time to London Euston of 2 hours 15mins. The property is situated in a prime location close a variety of retailers including Boots, Greggs, WH Smith and Card Factory. There is a thriving market which operates 3 days a week. DESCRIPTION The property comprises a three storey mid terrace building of brick elevations. The ground floor provides an open plan area which has been sub divided by the tenants for sales, together with ancillary storage. The upper floors are self-contained but not currently used by the tenant. There is one car parking space and rear servicing is provided via Carter Street. FLOOR AREAS Floor Use Area ft 2 Ground Floor Sales 1,668 Ground Floor Ancillary 84 First Floor (Unusable) ITZA ITZA THE DODECA HIGH STREET PORTFOLIO

21 09 UTTOXETER 5 High Street, Uttoxeter ST14 7HN TENURE Freehold. TENANCY The property is let to Specsavers Optical Superstores Limited on an FRI lease for a term of 10 years from 11th June 2015 at a rent of 21,500 per annum subject to an open market rent review at the expiry of the 5th year. The property is subject to a Schedule of Condition relating to the internal repairing liability to the upper floors. COVENANT Specsavers is a partnership employing over 30,000 people with over 17.3m customers in the UK. Year Ending 29th February th February th February 2014 Turnover 378,438, ,739, ,606,000 Pre-tax Profit 21,265,000 15,349,000 18,533,000 Total Net Worth 94,909, ,290,000 73,847,000 RENTAL ANALYSIS The rent reflects approximately 31 Zone A applying A/10 on the ground floor ancillary and assuming nil value to the first floor. The previous rent was 25,500 per annum. The rent has been rebased and offers good rental growth prospects. PRICE Offers in the region of 345,000 (Three Hundred and Forty Five Thousand Pounds) which reflects a net initial yield of 6% after allowing for purchaser s costs at 3.87%. THE DODECA HIGH STREET PORTFOLIO 21

22 10 WHITBY Baxtergate, Whitby YO21 1BW LOCATION Whitby, with a population of 15,000, is a seaside town located on the edge of the North York Moors, 45 miles east of York and 15 miles north of Scarborough. The town is a popular holiday destination throughout the year attracted by the moors, beaches, ruins of Whitby Abbey, a variety of museums and the historic fishing port. The property is situated in a prime location, within the pedestrian High St close to a variety of retailers that include Boots, Superdrug, Edinburgh Woollen Mill, M&CO and Bon Marche. DESCRIPTION The property comprises a 3 storey end of terrace modern building of brick elevations under a pitched roof. The ground floor provides a lock up shop and the uppers two self-contained 2 bedroom flats, accessed from the side of the property. Servicing is off Baxtergate. FLOOR AREAS Floor Use Area ft 2 Ground Sales 1,426 Ground ITZA 855 units Ground Ancillary 277 First 2-bedroom Flat 797 (not inspected) Second 2-bedroom Flat 829 (not inspected) 22 THE DODECA HIGH STREET PORTFOLIO

23 10 WHITBY Baxtergate, Whitby YO21 1BW TENURE Freehold. TENANCY The ground floor is let to Costa Limited on a 10-year FRI lease from 17th September 2014 subject to a 5th year upward only rent review at a rent of 39,000 per annum. The tenant has an option to break the lease on 17th September The first and second floor flats are let on 2 separate AST s producing a total income of 925 pcm. Further details upon request. The total gross income is 50,100 per annum. COVENANT Costa is the largest coffee brand in the UK with over 1,375 stores nationwide. They are a multinational coffeehouse operator and a wholly owned subsidiary of Whitbread PLC. Year Ending 28/02/13 27/02/14 26/02/15 Turnover 552,959, ,427, ,974,000 Pre Tax Profit 93,927, ,449, ,221,000 Net Worth 243,951, ,767, ,814,000 RENTAL ANALYSIS We calculate the rent equates to approximately ZA assuming 3.50 psf on the ground floor ancillary. PRICE Offers in the region of 680,000 (Six Hundred and Eighty Thousand Pounds) reflecting a net initial yield of 7% after allowing for purchaser s costs at 5.4%. THE DODECA HIGH STREET PORTFOLIO 23

24 11 WIGSTON 18-18a Bell Street, Wigston LE18 1AD LOCATION Wigston has a population of approximately 32,000 people located on the edge of Leicester, 5 miles south of the city centre, 20 miles south of Loughborough and 22 miles north east of Rugby. The town sits on A5199 connecting Leicester to the north and Northampton to the south. The property is situated on the edge pedestrianised section of Bell Street adjacent to a 35,000 sq ft Sainsbury Superstore and 200 space car park. Other nearby occupiers include Iceland, Card Factory and Boots. DESCRIPTION The property comprises a 2 storey mid terrace building of brick elevations under a pitched roof with a single storey extension to the rear. The ground floor provides open plan sales ancillary staff and storage accommodation above. The property has the benefit of rear servicing off Frederick Street. FLOOR AREAS Floor Use Area ft 2 Ground Sales 2,109 Ground ITZA 1,093 units First Ancillary 1, THE DODECA HIGH STREET PORTFOLIO

25 11 WIGSTON 18-18a Bell Street, Wigston LE18 1AD TENURE Freehold. TENANCY The property is let to Superdrug Stores PLC on a 5 year FRI lease from 30th March 2015 at a rent of 40,000 per annum. COVENANT Superdrug is the UK s second largest health and beauty retailer currently operating from over 900 stores nationwide. Year Ending 29th Dec th Dec th Dec 2014 Turnover 1,021,021,000 1,010,212,000 1,058,047,000 Pre-tax Profit (3,977,000) 28,982,000 38,044,000 Total Net Worth 106,905, ,235, ,513,000 D&B- 5A1 RENTAL ANALYSIS The rent equates to approximately ZA assuming 3.00 psf on the first floor storage. PRICE Offers in the region of 510,000 (Five Hundred and Ten Thousand Pounds) which reflects a net initial yield of 7.5% after allowing for purchaser s costs at 4.8%. THE DODECA HIGH STREET PORTFOLIO 25

26 12 WOKINGHAM 3-5 Peach Street, Wokingham RG40 1YJ LOCATION Wokingham is a prosperous Thames Valley town with a population of approximately 30,000, located 8 miles south of Reading, 10 miles north-east of Basingstoke and 38 miles west of Central London. It is a popular commuter town with swift access to J10 of the M4, via the A329M together with a regular train service to London Waterloo with a fastest journey time of 40 minutes. The property is located in a prime location on Peach St, close to the junction of Broad Street and Market Place close to a variety of multiples including, Waitrose, Marks & Spencer, M&CO, Clinton Cards, Café Rouge and Superdrug. The property is opposite the proposed Peach Place Plaza, a new mixed use development being promoted by the Council and Wilson Bowden - DESCRIPTION The property comprises a 3 storey mid terrace period building of brick elevations under a pitched roof. The ground floor provides an extensive sales area, with ancillary storage on the first and a self-contained 3-bedroom flat on the second, accessed from the rear of the property. The property has the benefit of rear servicing ` off Luckley Path. FLOOR AREAS Floor Use Area ft 2 Ground Sales 1,492 Ground ITZA 896 units Basement Ancillary 317 First Ancillary 928 Second 3-bedroom Flat not inspected 26 THE DODECA HIGH STREET PORTFOLIO

27 12 WOKINGHAM 3-5 Peach Street, Wokingham RG40 1YJ TENURE Freehold. TENANCY The property is let to Nero Holdings Limited on a 15-year FRI lease from 13th April 2006 subject to 5 yearly upward only reviews at a rent of 55,000 per annum. The 2016 rent review is currently on-going. Further details upon request. COVENANT Café Nero was established in 1997 and currently trade from over 600 units globally, employing more than 4,000 people. Year Ending 31/05/13 31/05/14 31/05/15 Turnover 177,404, ,539, ,496,000 Pre Tax Profit 19,639,000 20,011,000 22,538,000 Net Worth 144,676, ,364, ,395,000 RENTAL ANALYSIS The rent equates to approximately ZA assuming 2 psf on the basement, 4.00 psf for first floor ancillary and the second floor flat at 950 pcm less a 15% management discount. Rents in Wokingham are now proven at 70 ZA as demonstrated by the lease renewal of New Look at 5 Market Place, in January Numbers 13 & 18 Market Place are also under offer reflecting a similar level. Further details upon request. On the above basis the ERV is in the region of 75,000 per annum. PRICE Offers in the region of 1,180,000 (One Million One Hundred and Eighty Thousand Pounds) reflecting a net initial yield of 6%, based on a rent of 75,000 p.a. allowing for purchaser s costs at 5.9%. THE DODECA HIGH STREET PORTFOLIO 27

28 VAT The properties within the portfolio have all been elected for VAT and it is envisaged the transaction will be structured as a Transfer of a Going Concern. EPC s EPC s are available on request. PRICING We are seeking offers in the region of 8,000,000 (Eight Million Pounds) reflecting a net initial of 6.56% assuming purchaser s costs of 6.68% CONTACTS Ed Gambarini KLM RETAIL D: +44 (0) M: +44 (0) egambarini@klmretail.com Rupert Guy KLM RETAIL D: +44 (0) M: +44 (0) rguy@klmretail.com The agents for themselves and for vendors or lessors of properties on this site whose agents they are give notice that: 1: The particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute part of an offer or contract; 2: All descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; 3: No person in the employment of the agents has any authority to make or give any representation or warranty whatever in relation to this site or properties to be built on this site. May 2016.