REVERSIONARY MODERN OFFICE INVESTMENT The Kiln, Mather Road, Newark, Nottinghamshire NG24 1FB

REVERSIONARY MODERN OFFICE INVESTMENT The Kiln, Mather Road, Newark, Nottinghamshire NG24 1FB

INVESTMENT SUMMARY An opportunity to acquire a modern multi let office building. Prominently located with easy access to Newark town centre and Castle Railway Station. Extending to 18,71 sqft over ground and 2 upper floors the property provides quality divisible accommodation around 2 reception areas. Extensive secure car parking of 34 spaces. Approximately 78% let to 4 tenants proving a passing rent of 120,801 per annum. WAULT of 4.8 years to lease expiries and 2.98 years to tenant breaks. Opportunity to increase the rent through letting of the vacant accommodation. Offer in excess of 1,280,000 (One Million Two Hundred and Eighty Thousand pounds) subject to contract and exclusive of VAT. A Net Initial Yield of 8.92% and a reversionary yield of 11.7%. Low capital value of 68.39 per sq ft. LOCATION The property is located in the affluent market town of Newark on Trent, within the district of Newark and Sherwood and the county of Nottinghamshire in the East Midlands. As per the 2011 census, Newark had a population of 26,330. However, Newark forms a continuous builtup area with the neighbouring parish of Balderton; the combined population of the two is 3,674. Newark is located on the Great North Road (the A1) and the East Coast Main Line railway. Approximately 20 miles north east of Nottingham accessed along the A46 Fosse Way, approximately 30 miles north of Leicester, further south on the A46, and approximately 70 miles north east of Birmingham accessed predominantly using the A46 and M1 motorway. Hull Leeds Grimsby Manchester Sheffield Newark Stoke Nottingham Shrewsbury Leicester Birmingham Peterborough Coventry Northampton Cambridge Bristol London Norwich Ipswich

A616 TO M1 JCT 28 A617 A46 LINCOLN ST A46 KELHAM ROAD B6326 GREAT NORTH ROAD MILL GATE OSS TON WAY M ATHER ROAD GT N RD RIVER TRENT B6166BAR GATE B6166 STODMAN ST QUEEN S ROAD SLEAFORD ROAD KING S ROAD LOVER S LANE TOWN CENTRE APPLETON GATE FRIARY ROAD APPLETON GATE BARNBY GATE SITUATION The Kiln is situated adjacent to the river Trent to the north of Newark town centre on Mather Road which is accessed off the B6326. The property is within walking distance of the town centre with Newark Castle Rail Station 0.2 miles and Newark Northgate Station 0.7 miles to the east. The immediate area is predominantly residential with a modern Waitrose food store opposite.

DESCRIPTION The subject property comprises a redeveloped 3 storey modern office building constructed within the envelope of a grade II listed warehouse. The office accommodation overlooks a secure central courtyard / parking area and benefits from the following; 2 receptions Air Conditioning Raised access floors incorporating floor boxes Suspended ceiling with Cat 3 recessed lighting Gas fired central heating. 2 passenger lifts undercroft and court yard parking male and female WC s The property was developed to be let on either a single or multiple basis providing for flexibility. In total the property has 34 secure car spaces. ACCOMMODATION The property was measured in accordance with the RICS Code of Measuring Practice (6th Edition) to provide the following net internal area; Floor Area sqm Area sqft Ground Floor (Riverside) 147. 1,88 1st Floor (Riverside) 118.4 1,274 2nd Floor (Riverside) 93.1 1,002 1st Floor (North Wing) 339.1 3,60 2nd Floor (North Wing) 331. 3,68 1st Floor (South Wing) 377.6 4,06 2nd Floor (South Wing) 331. 3,68 1,738.7 18,71

TENANCY The property is let on the flowing basis Floor Tenant Area sqft Part Ground* Canal and River Trust 1,88 Lease start date Upon completion of sale Lease Term years Rent per annum 13,498 Rent per sqft ERV per annum 13,498 ERV per sqft The property has a current WAULT of 4.8 years to lease expiries and 2.98 years to break options. Part 1st (North Wing)* Canal and River Trust 3,60 Part 1st (Riverside) RICS 1,274 Part 1st (South Wing) Vacant 4,06 Part 2nd (North Wing)** Waldeck Associates Ltd 3,68 Part 2nd (South & Riverside)*** Royal Society of Wildlife Trusts 4,70 18,71 Upon completion of sale 23/04/2007 01/10/1 01/04/2014 10 31,02 12,90 30,328 33,000 120,801 10.16 7.22 31,02 10,829 34,3 30,328 38,84 19,078 * Canal and River Trust 2 new leases to commence on completion of the sale. ** Waldeck Associates the lease contains a mutual break option at the end of the 3rd year of the term subject to no less than 6 months prior written notice. The tenant has a month rent free with a further 3 month should the break not be exercised. *** Royal Society of Wildlife Trusts The lease is subject to a tenant only annual rolling break subject to penalties of 33,000 up to 31/03/2016, 16,00 up to 31/03/2017 and 8,20 up to 31/03/2018 SERVICE CHARGE There is a service charge arrangement for the maintenance and insurance of the common parts of the property which is currently at 4.78 per sqft. Waldeck Associates and Royal Society of Wildlife Trusts have a service charge cap at 3.0 per sq ft subject to an annual RPI increase. TENURE The property is held freehold. TENANT INFORMATION The Canal & River Trust, (CRT), formerly British Waterways, is the charity responsible for the 2,200 mile network of waterways throughout England, Scotland and Wales. The organisation has over 000 employees and in April 2012 became the independent charity when it devolved from its government ownership. has a diverse property portfolio made up of properties throughout all sectors and which has a current book asset value well in excess of 00million. In addition to property it has assets in excess of 600 million providing for total assets of over 1.1 billion. The RICS (Royal institution of Chartered Surveyors) is the international organisation with over 118,000 members who represent everything professional and ethical in land, property and construction. They regulate and promote the profession; maintain the highest educational and professional standards; protect clients and consumers via a strict code of ethics; and provide impartial advice and guidance. The Wildlife Trusts is made up of 47 individual Wildlife Trusts covering the whole of the UK and the Isle of Man and Alderney. Together, The Wildlife Trusts are the UK s largest peoplepowered environmental organisation working for nature s recovery on land and at sea. Each Wildlife Trust is an independent charity deeplyrooted within the local community. Most had been established by the end of the 1960s by local activists determined to save the last remaining meadows, ancient woods and heaths in the face of widespread devastation to our natural environment. Waldeck Associates is a privately owned professional services consultancy that provides advice for clients undertaking investment, acquisition, planning, design, development, construction, refurbishment and maintenance of built assets in the markets of Energy; Waste & Utilities; Nuclear; Defence; Security & Aerospace; Manufacturing & Technology; Logistics & Transportation, Rail and Buildings & Development. Waldeck are fast becoming recognised as the UK s leading midsized multidisciplinary digital design, engineering and risk management consultancy, markets.

EPC The property has a EPC rating of D84. A copy of the certificate is available upon request. VAT The property is elected for VAT and therefor VAT will be payable on the purchase price. It is anticipated that the sale will be treated as a TOGC. PROPOSAL We are instructed to seek offers in excess of 1,280,000 (One Million Two Hundred and Eighty Thousand Pounds) subject to contract and exclusive of VAT which reflects a net initial yield of 8.92%, a reversionary yield of 11.7% once the property is fully let at the market level. A purchase at this level reflects a low capital value of 68.40 per sq ft. Purchasers costs of.8% have been applied. Subject to contract. FURTHER INFORMATION For further information or to arrange an inspection please contact; Mark Rooke T: 0121 2141972 M: 0798 87778 E: mrooke@mk2.co.uk Mark Johnson T: 0121 2141977 M: 07748 10812 E: mjohnson@mk2.co.uk MK2 Real Estate Limited Maddox House 117 Edmund Street Birmingham B3 2HJ IMPORTANT INFORMATION 1. No description or information given by MK2 Real Estate Ltd whether or not in these Particulars and whether written or verbal ( information ) about the property or its condition or its value may be relied upon as a statement or representation of fact. MK2 Real Estate Ltd do not have any authority to make any representations and accordingly any information given is entirely without responsibility on the part of the agent or the seller. 2.These particulars do not constitute, nor constitute part of, an offer or contract, nor shall they merge in any offer or contract which may hereafter be made between the sellers or lessors and the recipient of the information. 3.The photographs show only certain parts of the property at the time they were taken. Any areas measurements or distances given are approximate only. 4. Any reference to alterations to or use of any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained.these matters must be verified by any intending buyer.. Any buyer must satisfy themself by inspection or otherwise as to the correctness of any information given. Designed and produced by Diablo: www.diablodesign.co.uk October 201