GROVELANDS INDUSTRIAL ESTATE

GROVELANDS INDUSTRIAL ESTATE LONGFORD ROAD, COVENTRY, CV7 9ND 10.65 6.1 8.50 958 MILLION YEARS PERCENT THOUSAND POUNDS WAULT N.I.Y RENT PA HIGH YIELDING FREEHOLD MULTILET INDUSTRIAL INVESTMENT

INVESTMENT SUMMARY High yielding multilet industrial estate Highly accessible from Junction of the motorway Providing 276,119 sq ft of total accommodation Freehold 100% occupied 28% of the existing income benefits from fixed increases Weighted average unexpired lease term of 6.4 years to expiry and 6.1 years to breaks 4% of the income is secured to the established covenant of TA Savery & Co Ltd, with a term certain in excess of 12 years Total rent of 958,400 per annum Offers in excess of 10,657,000 Providing a Net Initial Yield of 8.50% Rising to a minimum reversionary yield of 8.95% through fixed increases Reflecting a capital value of 8.60 per sq ft Assuming purchase costs of 5.80% LOCATION M54 M5 DUDLEY SITUATION A422 M5 A441 A441 A45 A45 A46 TOLL BIRMINGHAM A4 1 2 a B411 A41 M42 TAMWORTH 9 A4177 A46 A429 STRATFORDUPONAVON 4 M40 10 M42 15 SCHOOL LANE 11 A45 NUNEATON COVENTRY WILSON LANE GROVELANDS INDUSTRIAL ESTATE 2 LONGFORD RD A45 A42 COVENTRY RD EXHALL 9 A426 M1 RUGBY BRYANT 21 LEICESTER M1 BLACK HORSE RD 1 RD BAYTON RD A14 Coventry is located within the county of Warwickshire and is one of the leading commercial centres within the West Midlands region. The city lies approximately 100 miles north of London, with Birmingham 21 miles to the west and Leicester 21 miles to the north east. Coventry is excellently located within the core of the national motorway network. The motorway passes to the north of the city linking with the M1 motorway 11 miles to the east and the M42 motorway 9.7 miles to the west. Junctions 2 & of the motorway offer direct access routes to Coventry, additionally Junction 2 also provides access to the 9 motorway. The south of Coventry is bounded by both the A45 & A46 trunk roads, with the A46 providing access to the M40 motorway at Junction 15, 1 miles to the south west. Rail links from Coventry provide direct access to London & Birmingham with journey times of 65 minutes and 20 minutes respectively. Coventry is located 10 miles east of Birmingham International Airport and Coventry Airport is located.5 miles south east of Coventry city centre. Grovelands Industrial Estate is situated approximately 4 miles to the north of the city centre on the B411 Longford Road within the immediate proximity to Junction of the motorway. The motorway junction is approximately 0.5 miles to the west of the property with the B411 Longford Road providing direct access to the motorway. The nearby provides access from the property to Coventry city centre 4 miles to the south and Nuneaton 6 miles to the north..47 /SQ. FT OVERALL 8.50 PERCENT N.I.Y 10.65 MILLION POUNDS 8.60 /SQ. FT CAP. VAL. B411 IBSTO JUNCTION L LONGFORD C COVENTRY ROAD CV7 9ND

DESCRIPTION A multilet industrial estate of 276,119 sq ft, comprising 12 units, ranging from 7,156 sq ft to 102,94 sq ft. Eaves heights range from 5.00 6.50 metres. Unit A comprises a manufacturing / industrial unit constructed in the 1950s/60s and latterly refurbished. The unit is of steel frame construction under a trussed roof. The roof and elevations are clad with profile metal sheeting. Grovelands House, a two storey office building adjoining Unit A. The unit is of steel frame construction with part profiled metal sheet part glazed elevations. Units BH were developed in the mid1960s and early 1970s and have subsequently been refurbished. The units are of steel portal frame construction with part brick and profile metal clad elevations beneath profile fibre cement sheet roofs. C1 Offices adjoins unit C1 and provides cellular office accommodation with brick elevations beneath a flat roof. TENANCY SCHEDULE SITE The site totals approximately 5.04 hectares (12.45 acres) providing a site cover of approximately 4%. LONGFORD ROAD F GROVELANDS HOUSE E G B D2 H1 H2 A D1 BLACK HORSE ROAD NOTE: Plan is for the convenience of identification only. Any site boundaries are indicative only and should be checked against title deeds. C2 C1 AREA LEASE INCOME UNIT TENANT GIA (sq m) GIA (sq ft) Start Expiry (Break) Review RENT (pa) RENT (psf) EPC RATING COMMENTS Grovelands House Ground Floor T.A. Savery & Co Ltd 462.8 4,981 17/10/201 28/0/2026 29/0/2016 16,000*.21 E105 Rent free until 28/0/16, to be topped up by the vendor. Grovelands House 1st Floor & Unit A T.A. Savery & Co Ltd 9,512.7 102,94 29/09/2009 28/0/2026 29/0/2016 14,000*.07 E105/ F129 Current rent of 14,000 pa. 5 year reversionary lease agreed from 29/0/21. Rent free until 1/10/14, to be topped up by the vendor. Grovelands House 1st Floor (Offices) NIA: 4,455 sq ft. Unit A (Industrial) GIA: 97,070 sq ft. B Aerocom Metals Ltd 2,118.6 22,804 1/02/2012 28/09/2017 70,000.07 F128 Rent increases to 80,000 pa on 28/09/14 and to 90,000 pa on 28/09/15. C1 Offices & C1A Dunraven Finance Ltd 2,427.9 26,14 22/11/201 21/11/2018 100,000* 4.02 F127 Rent free until 22/11/14, to be topped up by the vendor. C1 (Offices) NIA:,29 sq ft. C1A (Industrial) GIA: 21,466 sq ft. C2 Northgate Vehicle Hire Ltd 1,41.8 15,218 20/06/2006 19/06/2017 (20/06/2015) 55,000.61 F18 D1 AMF Precision Engineering Ltd 877.2 9,442 25/12/2012 24/0/202 (25/0/2018) 24/0/2018 28,800*.05 F15 Initial rent of 19,200 pa increases to 28,800 pa on 25/0/14, to be topped up by the vendor. There is a further increase to 8,400 pa on 25/0/15. 12 months half rent if break not exercised. D2 Fastenal Europe Ltd 877.2 9,442 06/01/2014 05/01/2017 7,500.97 F15 Guarantor: Fastenal International Holdings Co. E Arco Ltd 664.8 7,156 2/01/2006 22/01/2016,000 4.61 G16 F E A Ellison & Co Ltd 2,07.6 24,89 12/09/201 11/09/2016 9,200.75 F14 G Godiva Imaging Ltd 1,06.1 11,15 14/12/2009 1/12/2015 8,700.47 F17 H1 Luxury For Less Ltd 1,652.4 17,786 08/07/2011 07/07/2016 72,500* 4.08 E10 Current rent passing of 6,500 pa. Rent increases to 72,500 pa on 08/07/14, to be topped up by the vendor. There is a further increase to 81,500 pa on 08/07/15. H2 Luxury For Less Ltd 2,01.2 24,770 08/07/2011 07/07/2016 99,450* 4.01 E114 Current rent passing of 87,100 pa. Rent increases to 99,450 pa on 08/07/14, to be topped up by the vendor. There is a further increase to 111,800 pa on 08/07/15. Land Adjacent Unit A National Grid Gas Plc 16/12/1998 15/12/2018 16/12/2008 250 Substation Unit B Western Power Distribution (East Midlands) Plc 11/11/2011 10/11/2110 0 TOTAL 25,652. 276,119 958,400 * Vendor to top up. Net Internal Area

TENURE PROPOSAL Freehold Offers are invited in excess of: 10,657,000 VAT (Ten Million, Six Hundred and Fifty Seven Thousand Pounds), subject to contract and exclusive of VAT. The property has been elected for VAT purposes. It is anticipated any sale will be treated as a Transfer of a Going Concern. A purchase at this level reflects a net initial yield of: 8.50% EPC Minimum reversionary yield through fixed increases of: A summary of the EPC rating for each unit is contained within the tenancy schedule, full EPCs available upon request. 8.95% COVENANTS and a capital value of: 58% of the income is secured to tenants rated Minimum or Lower than Average risk of business failure by Dun & Bradstreet. assuming standard purchase costs of: A summary of each tenant s most recent accounts is provided below. Dun & Bradstreet reports are available upon request. Tenant 8.60 per sq ft 5.80% Accounts Date D&B Rating Turnover PreTax Profit / (Loss) Net Worth T.A. Savery & Co Ltd 2A2 21,410,180 900,666 4,912,578 Aerocom Metals Ltd C 101,58 Dunraven Finance Ltd 1/0/201 2A 6,124,000 ( 4,511,000),087,000 Northgate Vehicle Hire Ltd 0/04/201 5A1 295,868,000 42,099,000 79,176,000 AMF Precision Engineering Ltd 1/0/201 A 515,041 Fastenal Europe Ltd 1/12/2012 N4 ( 55,08) Arco Ltd 5A1 24,101,000 10,459,000 9,67,000 E A Ellison & Co Ltd 1/12/2012 2A2 18,667,927 599,767 2,169,7 Godiva Imaging Ltd 0/10/2012 48,41 Luxury For Less Ltd 0/0/201 O

CP JR TC CORTEX PARTNERS JONNIE RAY TIM CUZENS Further information Please contact the vendor s sole selling agents; Jonnie Ray Tim Cuzens t 020 754 0994 e jonnie@cortexpartners.co.uk t 020 754 0992 e tim@cortexpartners.co.uk Misrepresentation Act 1967. Cortex Partners, for themselves and the vendors of the property whose agents they are, give notice that: 1. These particulars are a general outline only for the guidance of prospective purchasers and do not constitute the whole or any part of an offer or contract: 2. Cortex Partners cannot guarantee the accuracy of any descriptions, dimensions, references to condition, necessary permissions of use and occupation and other details contained herein and therefore prospective purchasers must not rely on them as statements of factor representations and must satisfy themselves as to accuracy:. Cortex Partners or their employees do not have any authority to make or give representation or warranty or enter into any contract whatever in relation to this property: 4. Rents and prices quoted may be subject to VAT in addition: 5. Cortex Partners will not be liable in negligence or otherwise for any loss arising from the use of these particulars: 6. No responsibility can be accepted for any expenses occurred by intending purchasers in inspecting properties which have been sold or withdrawn: 7. Cortex Partners have not made any investigations into the existence or otherwise of any issues concerning pollution, potential land, air or water contamination. The purchaser is responsible for making their own enquiries in this regard. 8. All maps are for illustrative purposes only.