FREEHOLD COMMERCIAL INVESTMENT PRINCES HOUSE DORCHESTER DORSET DT1 1TP

FREEHOLD COMMERCIAL INVESTMENT PRINCES HOUSE DORCHESTER DORSET DT1 1TP

INVESTMENT SUMMARY Located in Dorchester, county town of Dorset. Short walking distances from both the prime retail pitch of South Street and Brewery Square development. Fully let and occupied and currently providing a total rental income of 264,181.50 per annum exclusive. All three shops totalling approximately 13,537 sq.ft. net, are leased to multiple retailers Argos and Ladbrokes and with smallest unit let to a Panasonic Franchise. 18,100 sq.ft. of modern self-contained offices and which are let and occupied entirely by Dorset County Council until either 24th March 2021 or 24th March 2025. Over 50.77% of rental income secured on Dorset County Council. LOCATION Dorchester is the County town for the county of Dorset in Southern England. It is located 20 miles west of Poole and 8 miles north of Weymouth. The town is located on the A354 and with access to the A35, which in turn connects to the M27 and M3 motorways. It is also served by the national rail network with rail services to London Waterloo (approx. 2 hours, 37 minutes journey). 84.62% of the retail rental income is secured on the excellent covenants of Argos and Ladbrokes. Dorset County Council has a right of first refusal in the case of an expiry of a lease or the exercising of a break option. Asset Management opportunities to re-gear shop leases. Freehold price of 3.1 million provides a 8.05% net initial yield. SITUATION Princes House is situated on a prominent corner position at the junction of High West Street, Trinity Street and Princes Street and with triple frontages. High West Street is the main route going from east to west through the Town Centre whilst Trinity Street provides a main route from the south. It is situated a short walking distance north of both the prime retail area of South Street and the Brewery Square development (former Eldridge Pope Brewery site).

DN GROUND FLOOR DESCRIPTION The subject property comprises a four storey UP building and with a basement under a mansard roof. AREA SURVEYED BY OTHERS UP STAFF ROOM LIFT AREA SURVEYED BY OTHERS CLEANERS STORE Princes House was originally constructed as a JEWELRY STORAGE CLERK'S OFFICE DN OFFICE CB'D LADIES & MENS Department Store for Genges some 80 years ago PRINCES STREET JEWELRY COUNTER ARGOS COUNTER CONVEYOR BELT SECURITY STORAGE MANAGER'S STOCK ROOM PANASONIC COUNTER DISABLED LADBROKES HIGH WEST STREET and was reconfigured and divided about 25 years ago with the third floor being added. The property is arranged over basement, ground and three upper floors. There is also a car park to the west with road access from Princes Street. OFFICE The main part of the ground floor and whole of the TRINITY STREET basement is occupied by national retailer, Argos, with a Panasonic electrical retailer and a branch of Ladbrokes also on the ground floor.the Argos shop benefits from an Oakland goods lift (capacity 1,000kg 13 persons) which connects the loading area adjacent to Princes Street. There is also an Oakland elevator which conveys goods from the basement to the ground floor sales. The whole of the upper parts are occupied by Dorset County Council. At the rear is a secure car park (barrier controlled) and with 23 spaces of which 18 are designated to the office tenants, Dorset County Council. Planning permission was obtained for an extension on the Trinity Street frontage building above part of the car park to provide an additional 3,509 sq.ft. (326m) of offices. Refer to Planning Application No 1/E/06/001444 and dated 28th September 2006 for further details.

Princes House, Princes Street, Dorchester TENURE: freehold The accommodation and tenancies are set out as follows: Unit Tenant Nature of Business Accommodation NIA (sq ft) ITZA (sq ft) Lease Commencement & Term Current Rent Break Dates Next Review Notes Unit 1 Ladbrokes Ltd Betting Shop Ground Floor Betting Shop 1652 1000 15 years from 30/1/04 43,544.00 29/01/14 Nil Tenants break at 29 January 2014 Unit 2 Pana Stores (South West) Ltd Electronics Ground Floor Retail 989 720 5 years from 26/10/10 20,000.00 Rolling 9 month Nil Tenants have the right to break on 9 months notice Unit 3 Argos Ltd Catalogue Retailer Ground Floor Retail & Basement Storage 10896 3230 25 years from 29/9/89 66,500.00 Nil Nil Part Ground, 1st, 2nd & 3rd Floors Dorset County Council Council Offices 18,100 N/a 15 years from 25/3/10 134,137.50 Nil 15/03/2015 Tenants break as at 24 March 2021 Electricity Sub-station Southern Electric plc Electricity Suppliers Sub-station N/a N/a 99 years from 9/6/93 Peppercorn Nil Nil Current Income 264,181.50

Tenants Financial Information at Princes House, Dorchester Unit 1 Ladbrokes Limited (co.reg no. 00775667) Period Y/e 31/12/2010 Y/e 31/12/2009 Y/e 31/12/2008 Turnover 683,635,000 790,369,000 902,171,000 Pre-tax Profits 67,274,000 238,011,000 278,122,000 Net Worth 774,890,000 694,338,000 585,090,000 Experian Credit Check Score in 2012 A Very Low Risk (Confidence) Unit 2 Pana Stores (South West) Limited (co.reg.no.04698782) Period Y/e 30/04/2011 Y/e 30/04/2010 Y/e 30/04/2009 Turnover 6,981,000 n/a n/a Pre-tax Profits - 175,000 n/a n/a Net Worth 653,000 784,000 645,000 Experian Credit Check Score in 2012 A Very Low Risk (Confidence) Unit 3 Argos Limited (co.reg.no.01081551) Period Y/e 26/02/2011 Y/e 27/02/2010 Y/e 28/02/2009 Turnover 4,012,064,000 4,164,475,000 4,056,338,000 Pre-tax Profits 157,867,000 227,851,000-194,437,000 Net Worth 1,269,522,000 1,130,407,000 1,048,416,000 Experian Credit Check Score in 2012 A Very Low Risk (Confidence)

Proposal The freehold interest is offered for sale at 3,100,000 subject to contract and to the existing tenancies which equates to a net yield of 8.05% net after allowing for the usual acquisition costs of 5.8% Energy Performance Certificates The energy performance certificates for the whole accomodation are available and front covers are as follows: VAT is payable on the purchase price. Further Information and Viewing To be confirmed by appointment through sole joint agents: Stephen Anderson s.anderson@cncagency.co.uk Clarke Nickolls Coombs 01784 577998 John Hempton jjh@hemptonfranks.co.uk Hempton Franks 01794 516260 You should be aware that the Code of Practice on Commercial Leases in England and Wales strongly recommends you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The Code is available through professional institutions and trade associations or through the website www.commercialleasecodeew.co.uk Disclaimer: Clarke Nickolls Coombs and Hempton Franks for themselves and for the Vendors or Lessors of the property whose agents they are give notice that: I) these particulars are given without responsibility of Clarke Nickolls Coombs, Joint Agent or the Vendors or Lessors as a general outline only, for the guidance of prospective purchasers or tenants and do not constitute the whole or part of an offer or contract; II) Clarke Nickolls Coombs or Joint Agent cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective 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 accuracy of each of them; III) no employee of Clarke Nickolls Coombs and Hempton Franks has any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the property; IV) VAT may be payable on the purchase price and/or rent, all figures are quoted exclusive of VAT, intending purchasers or lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; V) Clarke Nickolls Coombs and Hempton Franks will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars. The properties are offered subject to contract and being unsold or unlet and no responsibility is taken for any inaccuracy or expenses incurred in viewing. Clarke Nickolls Coombs and Hempton Franks have not investigated into the existence or otherwise of any issues concerning pollution and potential land, air or water contamination or tested any of the services and no warranty is given or implied. The purchasers or lessees are responsible for making their own enquires in these regards. Date 2012.