well secured, long leasehold, retail investment camberley 6-10 princess way

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Janel Lindsey
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1 well secured, long leasehold, retail investment camberley 6-10 princess way

Key Investment Criteria An affluent Surrey commuter town with high per capita retail spending levels above the PROMIS average.

2 recently granted leases at conservative re-based rents Let to Wilkinson (78% of the income) and Mothercare for a further 13.13 years and 4.66 years respectively.

) the majority of which is occupied by Wilkinson (92%) 2,715,000 Subject to Contract & Exc. of VAT reflecting a 8% net initial yield allowing for purchase costs of 5.

2 Key Investment Criteria An affluent Surrey commuter town with high per capita retail spending levels above the PROMIS average. Well secured, leasehold, retail investment opposite Bhs and Halfords, and with Sainsbury s, House of Fraser and The Mall Shopping Centre (Main Square) nearby. 2 recently granted leases at conservative re-based rents Let to Wilkinson (78% of the income) and Mothercare for a further years and 4.66 years respectively. A weighted unexpired lease term of circa years A head lease expiring on 15/03/2092 (circa years unexpired) at peppercorn rental. A substantial property of circa 3,835m² (41,279 sq. ft.) the majority of which is occupied by Wilkinson (92%) 2,715,000 Subject to Contract & Exc. of VAT reflecting a 8% net initial yield allowing for purchase costs of 5.8% Location Camberley is located approximately 17 miles (27.8km) north west of Guildford, 18.6miles (30km) south east of Reading and 35.6 miles (57.3km) south west of central London. The town benefits from excellent road communications with the town centre lying between Junctions 3 and 4 of the M3 which links to the M25 (J12) some 10 miles to the north east. The A30 (London Road) also skirts the town to the north. Rail services are provided from Camberley Station to London Waterloo (via Ascot). prime, well secured, freehold, retail investment

Local Economy & Demographics Camberley is a popular commuter town with a district population of 80,314, a primary catchment population of 200,000 and a shopping population of 98,000.

Camberley s economy is service industry orientated accounting for circa 73% of the workforce.

3 Local Economy & Demographics Camberley is a popular commuter town with a district population of 80,314, a primary catchment population of 200,000 and a shopping population of 98,000. The town is particularly affluent and is ranked 9 out of 200 PROMIS centres. This is reflected in the high level of per capita spending per head within the catchment. Camberley s economy is service industry orientated accounting for circa 73% of the workforce. Major employers in the town include Admiral plc, BAE Systems, Bisley Office Supplies, Eli Lilley & Co, Novartis, Charles Church, Edmund Nuttall and Nokia UK. Retailing in Camberley Camberley s retail offer is focused on Main Square Shopping Centre (The Mall), High Street, Park Street and Princess Way. Significant anchors include House of Fraser, Primark, Next and Bhs. Princess Way is a strong secondary pedestrianised thoroughfare and footfall levels are favourable with shoppers walking between the principle entrance to Main Square and the High Street. A main shoppers car park (1,025 spaces) is situated opposite the subject premises and the town s principal bus stops are located on Pembroke Broadway, which runs parallel to Princess Way adding to the footfall in this vicinity. Camberley s rail station is also located nearby.

72 psf overall) Situation The property occupies a prominent pitch on Princess Way opposite Bhs, Halfords and the Post Office.

4 Tenure Leasehold 125 years from 20/03/1967 expiring on 15/03/2092 at a peppercorn with the right to use 3 car spaces in the rear service yard. Sub- Tenancies Wilkinson Hardware Stores Ltd on effectively FRI terms for 15 years from 15/03/2010 expiring on 14/03/2025 (13.13 years 180,000 per annum exclusive (circa 4.72 psf overall) Situation The property occupies a prominent pitch on Princess Way opposite Bhs, Halfords and the Post Office. The property backs into The Mall Shopping Centre which is anchored by Sainsbury s, Primark and House of Fraser and has the benefit of shared servicing to the rear (with the Mall) with the service road adjacent to Mothercare. A small service charge is payable in lieu of this arrangement. Mothercare UK Ltd on effectively FRI terms on a new 5 year lease from 50,000 per annum exclusive (circa 45 psf ZA) (4.66 years unexpired). The weighted unexpired lease term is years The outstanding rent free period will be the responsibility of the vendor. Description The property comprises a substantial retail store let to Wilkinson arranged over ground and two upper floors with a roof level plant room. A separate ground floor retail lock-up unit has been created from the original department store and let to Mothercare. The property is of steel framed construction with brick elevations a under a flat roof. The ground floor is utilised for retail with the first and second floors ancillary storage and staff facilities.

5 Accommodation Main Store (Wilkinson) Floor M² Sq. Ft. Ground (Sales) ,429 First (Ancillary) 1,283 13,811 Second (Ancillary) 1,287 13,857 Retail Unit (Mothercare) Ground ,182 (Sales/Ancillary) ITZA ,110 Current Net Income 230,000 per annum exclusive Tenant Covenant Financial Year Turnover PTP Net Worth Wilkinson Hardware Stores Ltd Mothercare UK Limited 28/01/2011 1,559,384,000 60,824, ,364,000 27/03/ ,317,000 23,405,000 67,100,000 VAT The property has been elected for VAT and thus it will be payable on the sale

Proposal 2,715,000 reflecting a net initial yield of 8% allowing for purchasers costs of 5.8%. Further Details David Freeman 020-7659-4830 david.

They are intended as a guide to prospective purchasers.

The purchaser should satisfy himself and as to the correctness of these details, Neither the agents nor the vendor or lessors are to be or

6 Proposal 2,715,000 reflecting a net initial yield of 8% allowing for purchasers costs of 5.8%. Further Details David Freeman david.freeman@greenpartners.co.uk James Baillie james.baillie@greenpartners.co.uk Ed Smith ed.smith@greenpartners.co.uk MISREPRESENTATION: These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchaser should satisfy himself and as to the correctness of these details, Neither the agents nor the vendor or lessors are to be or become under any liability or claim in respect of these particulars. These particulars are supplied on the understanding that all negotiations are conducted through this office. February 2012.

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