Borough Parade

Prime Shopping Centre Investment Opportunity

Investment Summary • Chippenham is an attractive market town, with an affluent and loyal catchment, demonstrated by the fact that it retains 58.6% of its retail spend.

• The town’s population has increased substantially in recent years, from 28,000 persons in 2001, to in excess of 45,000 persons in 2012.

• Borough Parade is a modern, 80,000 sq ft, open air shopping centre, that provides the town’s prime retail offer.

• The shopping centre has a convenience led offer and its main tenants include; Waitrose, Argos, Robert Dyas, Waterstones, Body Shop, Caffè Nero, Clarks Specsavers and JD Wetherspoon.

• Low, rebased rental tone, of £40-£60 Zone A. • The centre has a nucleus of tenants that have been in occupation since it opened in 1996 and in recent years it has attracted several national multiple retailers who are new to the town, or that have relocated from elsewhere in the town centre.

• Strong WAULT of 8.5 years to expiry.

• 82.90% of the current income is secured against national multiple covenants.

• The property is held on three long leases from Wiltshire Council, which are all for 150 years from 1996 and 1998. The head rent is 7.50% of the net rents received, on a side by side basis.

• We are instructed to seek offers in excess of £15,722,000 (Fifteen Million, Seven Hundred and Twenty Two Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 7.25%, allowing for the usual purchaser’s costs of 5.80%.

PRIME SHOPPING CENTRE INVESTMENT OPPORTUNITY 3

The combination of the accessibility to London and the quality of life in the area has proved very attractive

Location Chippenham is a historic market town and the third largest centre in Wiltshire.

It is located 13 miles east of Bath, 22 miles east of Bristol, 20 miles west of Swindon and 101 miles west of London.

Chippenham is located on the M4 motorway and the town centre is 3 miles south of junction 17. The town centre is 1 mile east of the junction of the A350 and A4 trunk roads, which run north/south and east/west of the town respectively.

Chippenham benefits from being on the main railway line between London Paddington and the West Country and the journey time to London is 1 hour 15 minutes. The combination of the accessibility to London and the quality of life in the area has proved very attractive and Chippenham has increasingly become a commuter town over the past decade or so. The train service will be further improved following the electrification of the main line, which is scheduled for completion in 2016. This will increase the frequency of trains to London and also reduce the journey time by around 10 minutes.

4

Norton

Cheltenham

M40 A3 4

A4 21

A29

72

4

A26

A2

LS

Ho Worthing

CHIPPENHAM STATION

ST

A3

PAU

5

A338

8

A34

83

SHOREHAM

AU DL

EY RO AD

M

GOLD

05

E AV NEY

N

5

A4 20

Fortuneswell

A3

UE

S RY

A M Shanklin ST Ventnor

FO G H A M S H I

RIVER AVON

RE

BOROUGH PARADE AD

CHIPPENHAM

TH BA

RO

HI GH ST RE ET

DON

A4

HILL

NE

AD

TH

RO

EC

S AU

OW E R

S

AY EW

FL

A4

S LA

GLADSTO NE

WESTMEAD LAN E

A FLECHE UE L EN AV

LOWDE N

BAY

LOWDEN

4

A272

Pulborough

S ER DL SA

Weymouth

N AV ENU E

0 02 A3

Swanage

81

A272

1

AD O L D RO

1 A3

FLE C

11

Horsha

A2

A2 4

A3

4

A26

A3(M) NE SOUTHAMPTON RK LA 3 Havant Lyndhurst Arundel 0 PA M279 10 11 A27 Chichester HE A42 Ringwood Blandford Forum A27 Hythe 1212 5 D 31 Fareham A A Fawley Littlehampton Wimborne O 4 R A Brockenhurst 5 35 Y Minster A3 0 UR Gosport EB KL C DO Lymington Bognor CO Portsmouth W N A31 Regis A35 ING Cowes ST Ryde EA New Milton DALLAS Selsey ROAD D Poole Christchurch Dorchester Bournemouth Newport Freshwater Wareham A352 E A3 AC Sandown LOWDE 51 PL A353 AVE NU E LA

Crawley

9

Midhurst

A2

Petersfield

12 13 Eastleigh 14 4 4 5 7 A334 8

A286

8 A33

GATWICK

3

90

A2

A2

4

43 A3

38 A3

A345

A509

38

43 A3

A3 3

A4

A3

0 A35

03 A3

A31

Haslemere Liphook Billingshurst

A3

A32

1 36

A34

A3

A4 29

61 A3

A35

9

7 A3

A3

29

A46

68 A3

A3

9 8

Dorking Reigate Guildford A25 Godalming

A29

A35

8

A323

A24

3

1

1

A3

9

83

0

9

Leatherhead

A2

A3

M2510

Woking A331

2

Sutton Epso

11

A287

M3Alresford New

Romsey

PARK FIELDS

Aldershot

Farnham

9 A33

Bridport

0 A34

Sherborne

A352

A35

Lyme Regis

A37

6 06

uth

Axminster

A3

A30

Shaftesbury

)

0 31 A 3 (A

6

5

Richmo Kingst upon T

HEATHROW

Staines 1

3 4

Alton

9 10 11

Winchester

A3

54

57

A3

56

A30

Salisbury

Bracknell

10

2 1

3

A4

14 13

A329(M)

M3

A303

A337

Chard

Wilton

A3

Crewkerne A3

eaton

A30

Yeovil

8

39

58

3 A30

08

A357

A3

A3

Ilminster

A303

A34

25 03

6

57

Wincanton

A3

A3

8

Amesbury

A30

Street

24

N

61

A3

A371

dgwater

Warminster

A361

Shepton Mallet

6

Whitchurch7

Andover

4

Windsor

Camberley

Kingsclere

A345

Glastonbury

23

60

A39

A3

Wells

4

12

Basingstoke

Westbury

Frome

22

7 6

A4

07

M4Reading

A3

2

71

22

2

8 A33

A36

A3

m-on-Sea

A34

Trowbridge

A4

9

11

38

A3

Devizes A36

Cheddar

Hungerford A4 Newbury

A4

Melksham

Bath

BRISTOL

A418

7

32

13

14

Marlborough

61

A37

8 A3

21

8

A3

A4 8

A4 49

6

Westonuper-Mare

A4

Calne

A350

Corsham

Tring

1

LYNEHAM

A420

BRISTOL

16

We 6Ga C

9

A4

3

2

18

M4

17

7

10LUTON

A413

18

19 1

17

CHIPPENHAM

16

11

8

A1(M) S

Luton

20 Amersham 24 19 5 Watford Abingdon High 6 B Faringdon 18 Wycombe 5 4 17 Didcot M40 4 Beaconsfield M12 3 2 A41 Marlow Wallingford 30 Wantage A40 Harrow6 1 A4 1 Swindon Uxbridge A40 HenleyMaidenhead Slough on-Thames 15 A A4

M5

17

A4

20

19

Malmesbury

21

22

0

A346

Avonmouth

19

M4

4

A4

23

3

A4

1

A4

Carterton

M1

5 Hemel St 4 Hempstead H Wendover 8 M10Albans 3 Berkhamsted 7 2 1 Thame

Oxford

A420

Cricklade

Tetbury 3

14

2

26 25 27 aerphilly28 Newport 30 29

CARDIFF

Nailsworth

M5 Chepstow

Risca

Cirencester

A419

Kidlington

Witney A40

Stroud

13

Aylesbury

Hitchin

12

Leighton A Buzzard 5 Dunstable

1

B

9

A4010

A472

Lydney

A40

A4

12

A40

2 A404

7

A46

Pontypool

17 A4

Monmouth

r Brynmawr bbw ale

10

Letchworth

A4

9

A42 0

A4 38

ergavenny

Bicester

13

A413

40

10

A4

Stow-on- the-Wold Chipping

GLOUCESTERSHIRE Ross-on-Wye A40 Gloucester 11

Crickhowell A

Buckingham A421

A4

M5

10

3

14

Milton Keynes

22

A4

A3 2

4

Moreton-in-Marsh

A4260

M50 A49

Tewkesbury

Brackley

2

3

9

2

5

6 A4

A4 6

6

A4

A43

A42

A44

Biggle

Newport Pagnell

A1

8

1

11

A5

Bedford

A6

Ledbury

A422

ShipstonBanbury on-Stour

Evesham

A44

8

A438

Hereford

Pershore

Great Malvern

M1

Towcester

0 A5

8

0 40 A3

A43

Hay-on-Wye

Stratford upon Avon

7

03

A41

A36 1

Bromyard

2

11 A4

YA R

D

PRIME SHOPPING CENTRE INVESTMENT OPPORTUNITY 5

A49

0 A4

4

16

5.9

Quaternary

135,305

Weston1.5 super-Mare

254,504

8.3

Corsham

A4

A37

A3 8

BRISTOL

6 A4

BATH

21

A4 36 1

Calne

14

Marlborough

Hungerford

A4

Melksham

New 38

A3

Devizes A34

2

Trowbridge

A380

A3 82

A3

8 A35

Dawlish

Newton Abbot Torquay 5

Paignton

Totnes

A3

81

Brixham Chippenham including out of town

alcombe

79

A3

Kingsbridge

Dartmouth

Bath Swindon - McArthurGlen Outlet Centre Bristol Swindon Cribbs Causeway Caine Devizes

43 A3

A345

A35 9

A3 38

90

9 A3

A35 0

8 A352

58.6%

fastleigh A38

A37

76

Sidmouth

Lyme Regis

Teignmouth

8

4

5 A3

Wimborne Minster

A3

50

8

A31

Poole

Dorchester

A353

A352

Weymouth Fortuneswell

1

A3

1

A3

A35

Bridport

Exmouth

18.0% A3

Blandford Forum 56

6 A35

Seaton

A3052 A3

31

Ashburton

EXETER

29 30

EXETER

Ringwood

Axminster

A30

8.1%

06

Honiton

57

A3

A3

M5

Crediton

0

28

3

4

1 A3

Crewkerne

Chard

2

Bournemouth

Wareham A3

51

Swanage

SOUTHAM Lyndhurst Hythe Faw Brockenhurst

A337

2.3% 1.7% 2.4%

Ilminster A30

0 A 3 (A

5

3

Sherborne

8

A34

77

2.6%

08

Romsey

Shaftesbury

Yeovil

A3

A30

Tiverton

6

A3

27

2 07 A3 3.4%

A3

58

26

03

A3

54

A3

A30

Winc

A33

A3

Wellington

A

25

CORE CATCHMENT LEAKAGE

Salisbury 30

A338

8

A3

61

Wincanton

A357

A3

A30

Wilton 03

TAUNTON

South Molton

A3072

Street

A3

e

8

6 A39

A35

The loyalty of the local catchment is highlighted by the leakage graph which illustrates that 58.6% of 24 the catchment is retained by either Chippenham town centre or out of town retail.

A303

6

7

A3 9 A372

Andove

Warminster A3

61

A3

A371

Bridgwater

Glastonbury

A3

23

A361

57 A30

A39

A345

Wells

A39 population from the east Watchet and south, which is a result of a lack of competing towns in those directions.

Westbury

Frome

0

captures a larger amount of the Minehead Lynmouth Chippenham

2

6 A3

22

Burnham-on-Sea

A36

71 A3

ynton

A3

61

A3 6

8

A36

Total

CHIPPENHAM

A420

A3 4

43,169

20

13.8

15

A3

Tertiary

2 3

16

17

18

1

SWINDON

61

19

W

M4

8 A33

35,437

Malmesbury

A350

Secondary

A4 2

9

8 A4 9 A4 4

22

19

29.3

Barry

A

18

CARDIFF

40,593

3 43

21 17

Market Share

Cricklade

17 A4

M4

A420

Faringdon

Tetbury

14 1

M4 30 29

Primary Cowbridge

Nailsworth

A346

Porthcawl

32

M5

19

0

34 33 Population

Carterton Cirencester

A419

2

Witney A40

Stroud

13

Chepstow

23

A40

FOOTPRINT CATCHMENT

Lydney

of 40,593 rising to a total population of 254,504.

Chippenham town centre captures 29.3% Risca of the 40Maesteg 26 25 24 primary population which highlights the loyalty 27of Pontypridd 39 Caerphilly 28 38 the local catchment to the town.

Newport 36 37 35 Catchment Bridgend

CHIPPENHAM -

A40

7 A4

Port Talbot

12 RETAIL

4

A4

41

6

A43

A4 29

A4 06 7

43 42

36

A41

A4

Chipping Norton

Cheltenham

11

17 A4

7

44

Gloucester

Monmouth

2 A404

Demographics and Population

Stow-on- the-Wold

A 44

0

A4

5

A46

sea

0

Abergavenny

70 A4

6 45

A40

Crickhowell

A46 Brynmawr Merthyr Tredegar Tydfil Ebbw Vale Rhymney 65 A4 Aberdare Pontypool A472 Glyncorrwg Bargoed Mountain Chippenham benefits Ash from a primary retail footprint Neath

mmanford

M5

10

3

Ross-on-Wye GLOUCESTERSHIRE

andeilo A4

9

Tewkesbury

M50

9

A47

A4

A36 1

2

65

Brecon

0

A46

A4

Lymington

New Milton Christchurch

Freshwa

A46

A4 29

A34

A4 36 1 61 A3

A3

3

61

A3 4

43 A3

A3 38

A345

Leatherhea

Dorkin

Godalming

9

A3 5

Swanage

Quaternary

GB

4 5

2

A3

A2

Arundel

A27

Littlehampton

Gosport

Lymington

Portsmouth Cowes

Ryde

Selsey

Bognor Regis

Newport

Freshwater A3

05

5

Sandown Shanklin Ventnor

South West

CHIPPENHAM - DRIVE TIME CATCHMENT 35% 30%

% Households

25% 20% 15% 10% 5% 0%

AB

C1 10min dt

C2 20min dt

A25

Guildford

Haslemere

A3

The affluence of7 the catchment is further highlighted by 1 A334 8 A3(M) the numbers of ABC1 workers which are higher than the UK SOUTHAMPTON 3 Havant A2 Lyndhurst 9 average 10 11 number averages with aM27 below of D and E workers.

7 Chichester Hythe 5 1212than The population also has a higher average percentage of Fareham Fawley Brockenhurst home and car ownership.

New Milton Christchurch Difficult Circumstances

Struggling Estates

Young Hardship

Wareham

51

Poorer Pensioners

Striving Families

Modest Means

Student Life

Starting Out

Comfortable Seniors

Steady Neighbourhoods

Tertiary

Fortuneswell

10

A2

8 A33

A338

A34 8

Secondary

1

A3

90

A3

Successful Suburbs

Countryside Communities

Career Climbers

City Sophisticates

Mature Money

Primary

M25

A286

8 A3 6

9 7 A3

Weymouth

A3

Bournemouth

4

0 02

Executive Wealth

A353

A352

11

A3 3

A37

A3 8

03

A35 0

1

A35

Poole

A

3

A3

Lavish Lifestyles

Dorchester

38

8 A4 9

A4 4

A3

A35 9

50

31

A3

Wimborne Minster

A3

A31

Bridport 0%

A31

A29

A352

A37

6

06

A3

54

A3

New Alresford

A337

Ringwood

Blandford Forum

56

HEATHRO Staines 1

83

57

10%

Farnham

3

14 13

A2

A3

A3

A35

2

1

Crewkerne

4

A331

Sherborne

8

7

A287

08

minster

6

Urban Adversity

Yeovil

A3

9 A33

Shaftesbury

A3

54

A3

Financially Stretched

39

A357

03 20%

A3

A3

Comfortable Communities

A30

7 6

A4

4

9 Chippenham benefits from a very affluent catchment across the Liphook Winchester A2 72 affluent achievers is significantly 4 entire area. The10 percentage of A26 Billingshurst 11 1) both the South West and UK averages. The higherAthan 3 0(A3 A272 Romsey 12 struggling demographic proportion of groups is also notably Petersfield Midhurst 13 Eastleigh Pulborough below the 14 UK and south west averages.

Salisbury

0

Rising Prosperity

Whitchurch

A34

CHIPPENHAM - RETAIL FOOTPRINT Wilton Wincanton CATCHMENTS PROFILE

Affluent Achievers

07

Maidenhead Slough

57 A30

A371

Street

29

A40 H Uxbridge

1

7.4%

According to the 2011 census, the prediction is that 8 Chippenham’s population will grow to circa 50,000 persons by A303 Alton to build a further 5,500 2026. This is largely as a result of plans new houses in the town before 2026.

A30 M3

A303

6

A4

323,434

11

Andover

30 min drive time

Warminster A3

61

A345

A361

A3

20 min drive time

0

Glastonbury

10 min drive time

Westbury

Henleyon-Thames

A3

A3

2

Frome

3.9%

0 A34

A34

6 A3

Wells

312,777

In 2001, the town’s population was 28,000 persons and the 38 3 Camberley population growth over the past 11 years has been more than Woking 4 60%. This isKingsclere largely due to the development of new private housing around the town, particularly at Cepen Park to the west of the town centre Basingstoke and Pewsham6 toM3 the5east.Aldershot A323

A3

8 A33

A36

71 A3

2

301,035

Newbury

Trowbridge

1 A4

A4

Devizes

A36

0

Wantage

Chippenham has a population of 301,035 living within aWindsor 30 Reading A329(M) 13 which isM4 minute set to grow by 3.1% in five years and 14 drive time 12 10 Hungerford Bracknell 6.2% overA4ten years.

Marlborough

Calne

Melksham

BATH

A413

A4

8 M10 Berkhamsted 7 1 Thame 8 A418 7 Population Population % Increase Population % Increase 20 Amersham 19 2013 2018 to 2018 2023 to 2023 5 Watford Abingdon High 6 18 Wycombe 42,192 43,509 3.1% 5 44,812 6.2% 17 Didcot M40 4 Beaconsfield 3 116,666 120,393 123,951 6.2% 2 A43.2% Marlow Wallingford 13 0

15

A350

6 A4

Corsham

Hemel Hempstead

A4010

3

9 Tring

Wendover

A4

16

CHIPPENHAM

A420

BRISTOL

30 mins

A346

2

20 mins

SWINDON

17

18

1

17 A4

M4

19

Malmesbury

16 19

10 mins

A4

33

21

18

20

Faringdon Cricklade

A4

19

A420

Tetbury

1

17

Drive Time

Nailsworth

14

22

Cirencester

A419

M5

M4

Oxford

Carterton

Lydney

2

A40

Stroud

13

Luton

11

10LUTON

Aylesbury

A32

A4 2

17 A4

12

1

Kidlington

Witney

CHIPPENHAM - DRIVE TIME CATCHMENT

A40

23

A40

9

Monmouth

Hitc

M1

Dunstable

A4

9

A3 4

6

A43

A41

Bicester

12

A5

A413

36

A4

M40

A3 3

11

Leighton Buzzard

A3

Cheltenham

4

A 44

0

Gloucester

A4

Chipping Norton

A4260

10

3

Ross-on-Wye GLOUCESTERSHIRE A40

Stow-on- the-Wold

A421

10

A3 4

4

M5

A3

A49

Buckingham

A4 3

Tewkesbury

M50

A36 1

65

A4

30min dt

D GB

E South West

PRIME SHOPPING CENTRE INVESTMENT OPPORTUNITY 7

SH

Retailing within Chippenham Chippenham has a primary retail catchment of 103,000 persons (Source: PMA), which is significantly above the PMA Small Town average of 83,000 persons.

The catchment area extends towards Tetbury and Malmesbury to the north, Royal Wootton Basset to the east, Devizes to the south and Bath to the east.

This is an affluent, rural hinterland which comprises many small towns and villages, many of which accommodate commuters for the bigger centres such as London, Bristol and Bath.

Chippenham benefits from a lack of immediate competition with Swindon, Bath and Bristol all being at least a half hour drive away.

Chippenham’s central shopping area comprises approximately 500,000 sq ft of retail floor space, which is comparable with the PMA ‘Small Town’ average.

Retailing in the town is focused on High Street and two shopping centres, Emery Gate and Borough Parade.

Retailers represented on High Street include: Boots, Poundland, WH Smith and Wilkinson. A significant majority of the buildings on High Street are historic Listed properties and do not provide the type of accommodation suitable for retailers today.

Emery Gate is a covered shopping centre, which was constructed in the 1980’s. It is enclosed and is anchored by a Tesco Metro store. Other tenants include: Peacocks, Dorothy Perkins, Sports Direct and Clintons.

Borough Parade opened in 1996 and provides the most modern retail facilities and the largest critical mass of national multiple retailers within Chippenham.

PRIME SHOPPING CENTRE INVESTMENT OPPORTUNITY 9

Borough Parade Shopping Centre is located in the heart of the town centre

Description Borough Parade Shopping Centre is located in the heart of the town centre with entrances on High Street and from the town’s main surface level shopper’s car park.

The centre was developed by Crest Nicholson Plc and opened in October 1996. It is an open air scheme and provides 26 retail units, a food store and a public house.

It is of steel frame construction with attractive stone and rendered elevations, and pitched slate roof.

The centre provides a variety of unit sizes and most have sales accommodation on the ground floor with ancillary and/or sales accommodation at first floor level.

The majority of the units benefit from rear servicing.

N

18 19

D S

O

IN SO

G O

7

MO GO BI LE

TIM P SH SON RE OE P

FR

6

PO UN DI SC DL AN O UN D T ST O RE CA R G RE D B ET AR C IN TE AR G LE PH CA PH O PA RD O NE BA RS S NE W KE ON RY S S AR 3 TE STO EH L RE O US CH E

NE AG LLS EN T

AT E

64

IC BL PU

A BE HO

G 11 AFFIN NCY E T T S T AG EP N NC ME CO LOY P EM

M HA EN

12

10

P (36) (ACTUAL)

TL

CO BE RA T L G OF O

BA

9-

M USEU AM M ENTRE PENH CHIP RITAGE C & HE

C AS

66

SH 6 AM 5 BL ES

CE PLA

OAD NE R STO D A GL

L OTE EL H ANG

IN T FO

) LY ON

8

KET MAR

NS RIA ST DE (PE

7

EL NG EA TH L TE HO

THE

LEWIS JEARY &ORS SOLICIT

SON E WOOTTEN & UNDERTAKERS

EN RICHUL T HA BER

TH E

6

SE R AR VICE EA

59

RC BA LA NK YS

0

67

T RTIN EN MA TE AG TA ES

58

EN T

-7

IA NN ITA TY BR CIE SO ING D IL S BU ON S SEA USE UR HO S FO BLIC ULLER PU F O &C

68

57

RD T TO & ES SON TA TA LL G E SE TTIN RV G IC E EN ES CO T T N

UR TO R DE M/W

(160) (ESTIMATED)

56

B BE ETF OF TTI RED FIC NG E

69

WA ITR

55

44

46

47

48

71

MI FE CAF AFE C

P

49

54

NK BA

1

CASH BROKERS

50

1

TON BUR EAR W NS ME BC HS

HALIFAX BANK

KE R

51 - 52

&

& W R

TH E

O U T

53

18

BIS BA ES RB QU ER IR SH E`S OP

C AM MIL L

SA NT AN DE R BA NK

M CA UNR FE OS BA R

19

6

LO OL TH AR IN S G

32

20 -1

TH M E FLO RA S ON LC FI HO EY N UL SE P TU B RV FL RE RE RITIS OR CH D CR H HU A R S CO MBU SH OSS NF GS C CH

2B

B BU UTL TC ER HE S RS

OS E

ST

15

OFFICE

5

(50) (ESTIMATED)

-

S 14 AL R IN G EA RI W O S N E A DI M LA RO

21

A4 ST AT IO NE JUL R IAN H CH ARIT OUSE YS HO P NATIONWIDE BUILDING SOCIETY

13

21 A

AP E

O T B TR HO PTI OO CI TS AV MA EL S C ANS AG OO TH E NT K E W OR KS

22

12

BL L LA CH UE NE AR CR IT OS Y GR SH S EG OP GS BA

1

PH 4 ON E TE S 4 U L

F JE HIN WE DS LL ER

EN T

BO OT CH S EM IS T

CO UN C

23

11

(40) (ES

G S

4

P

AG S H RAN OP C E HE B E AL T AU H & TY

CE X EM ER 5 Y 2 GA VACANT TE 3 6

TS B LL OY DS

BA NK

DA FO NE TE L

FI TR RST AV EL O AG ICE EN T VO

12

7 13

5

NU M LU BER NC O H NE BO CH CAFE X

9

WE ST CO R PA NW ST AL YC L O T/A

-1 1

2

10

AP

PL W AC OR E SH OF IP

NT

CH D RIS AVID J TO

AD E

9

NE W

PA R

MO BO BIL OT E H

CL A L A IRE `S CC ES S

4

17

3

A

8-

CA

WL PH PA PR R ER IKA CA FE

19

31

VA

25

7

W EL LI N

3

OR ET

RO UG H

18 -

BO

31

LO OK

BO RO OK VA S B RIE ERT TY DY AS ST O RE WE NT YO CL NE OT HIN G

NE `S

30

15

18

TS BA B NK

1

ST O

WA TE R

OG U TA L

-2

6

D

2

CA

20

29

SH OE ZO SP NE EC S OP AVE TIC RS IAN CA FF EN ER O

2

N TIO ELA REV BOOKS

ES HO

EN

T

AR GO S WR OO M

28

14

GL O TR BAL AV WE E

LA S TH GE T O NT CO RNT ON NF S &B IS

HO EE NE S CL AR KS

ST RE ET UN IT

CH

S EW

ICELAND

27 -

22

TH SH E B HE OP ODY BE ALT AU H TY &

6

TE LE P

FU MO NKY NK EY

1

29

T

M EL

FROZEN FOOD

23

V /O EX ISIO PR N ES S

MA D L/W ISO N R

HIG H

UN IT

8

PIN KP LA G NE E CO XCH AME T M P AN S GA GE ME U

SERVICE AREA

NU ON MB CO E ER SH FFE O E CA P FE

EN T

17

TH E HO BRID PU U S GE BL E IC HO US E

L EL -7 DW 1

NA TW ES T BA NK

4

10

GS IN

30

PE EM TER M/WMS MIL R L/W ANO &M R /W R EN

PG E H T E G S DI AR DS SA IN G &E B G C Q DS O U IP

IL K

LD

W

H O

U SE H O 3

EN T

TH

PE N CO NY L NF AN E &

.30 PM )

BIS NE WS WH AG SM EN ITH T& BO OK S G BA HAL RB TO ER S CH AR ITY B H O2 SH F OP

-7

IL OF FIC ES

SU PE HE RD AL RU TH G &B EA UT Y

EN T

S RK O W

2

37

9.3 0A M

RD YA

1A

33 -

E

(C LO SE D

1

RS VE ES PA O SH

TS G CU N R SI PE ES SU DR IR HA

AD RO

IC RV SE

O ST

TH BA

NG DI AN XL JA R BA

T ET

8

H IT SM N

IA

S FT

TC ES IC RV

T KE AR M

R

Chippenham

The centre is anchored by Waitrose and New Look. Other key retailers include: Argos, Waterstones, PE AC OC CL KS Robert Dyas, Body Shop, Specsavers and Clarks. Catering is provided by Caffè Nero and a OT HIN G freestanding JD Wetherspoon public house which overlooks the River Avon.

AY BR LI

PRIME SHOPPING CENTRE INVESTMENT OPPORTUNITY 45 metres

11

31

12 14 15

Bank 1

2

TCB

Bank

e

e

NE LA EL

50

46

Posts 2

49.7m 69 70

27

to

28

31

4

71

The Chippenham Buttercross

68

Bank

a

31 32

67

Car Park Salmon Leap

ET RK MA

Th

33

ir We

PH Car Park

e

FB

s

The Angel Hotel

Pond

ROA

Coun

fices TCBs

El Sub Sta

37

Avonside

Pond

ea Of

cil Ar

D

site of King Arthur's Palace

Car Park

G 19

7

75m

11

ONE

9 to

DST

1

GLA

50m

ble

8

y Bd El Sub Sta MP

25m

am

Posts

ED

SM

Sh

E AC PL

SM

7

FB

SM

0m

LA

DS

TO

NE

RO

Library

AD

9

The public house (shown blue on the plan) is held on a headlease for 150 years from 8 January 1998 at a peppercorn rent.

51

18

EET STR ER RIV

1

29

alk

1

PC

Bank

The Town Hall annex (shown green on the plan) is also held for a term of 150 years from 19 September 1996 at a peppercorn rent.

Two parts of this are demised back to the Council, one part on a co-terminous underlease (less 10 days) at a peppercorn and the other part, which comprises a ground floor office, located to the rear of Unit 9, is let for 25 years from 19 September 1996 (expires 18/9/21) at a peppercorn rent and is outside the 1954 act.

52

17

gh rou

to

2

rs W

Love

Bo

19

Pa

17

rad

15

18

53

1

to

AP

13 14

11 21

13

20

14

23

12

19

54

7

22

20

48.2m

16

to

Avon

CH

11

rad

10 to

Pa gh

rou

1

12

6

10

21

5

River

Chapel

22

Neeld Hall

4

Bo

5 Old Baptist

23

4

PH

7

24

6

25

ST RE ET

2

4

HIG H

Town Hall

6

The shopping centre and car park (shown red on the plan) is held on a 150 year lease, which commenced on 19 September 1996 (expires September 2146) and the rent payable is 7.5% of the net passing rent (a side by side basis).

ws Me pel Cha

24

3

Vie

to

1

1

4

w

er

Riv

16

26

10

1 a

2

29

El Sub Sta

9

The property is held on three headleases, all from Wiltshire Council.

Ho

8 to

e

us

ge

rid

nb

o Av

30

5

Tenure

3

Borough Parade, Chippenham Bank House

Ordnance Survey © Crown Copyright 2014. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250

This plan is published for the convenience of

1 to 47

TI

M

BE

R

ST

RE

ET

Income Profile and Rental Analysis The total contracted gross income including vendor guarantees and top ups is £1,315,805 per annum. After the deduction of the head rent and vendor contribution towards marketing, the net current income is £1,205,952 per annum.

RENT BY COVENANT TYPE 14.3% 2.8%

Borough Parade Shopping Centre has a current gross estimated rental value of £1,299,756 per annum based on ERV tones from £40 - £60 Zone A. This is a modest base level which provides excellent prospects for rental growth, especially when considering the lack of vacancy at the centre.

Local Trader Vendor Guarantee National Multiple

82.9%

Income Analysis Borough Parade offers an extremely robust income stream anchored by a number of strong national multiple covenants. The average money weighted unexpired term is strong at 8.5 years (to expiry) with 77.37% of the income expiring beyond 5 years.

82.9% of the income is secured against National Multiple covenants.

A number of lease renewals were completed in 2011/2012 re-basing rental levels and extending the unexpired term.

Borough Parade offers an extremely robust income stream anchored by a number of strong national multiple covenants

LEAST CONTRACTED INCOME SCENARIO £1,400,000 £1,200,000 £1,000,000 £800,000 £600,000 £400,000 £200,000 £0

Yr 0 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11 Yr 12 Yr 13 Yr 14 Yr 15 Yr 16 Yr 17 Yr 18 Yr 19 Yr 20 Yr 21 Yr 22 Yr 23 Yr 24 Yr 25

National Multiple

Vendor Guarantee

Local Trader

UNEXPIRED TERM AND COVENANT 60.00%

50.00%

40.00%

30.00%

20.00%

10.00%

0.00%

5-10 yrs

10-15 yrs

15-20 yrs

National Multiple

Under 5 yrs 10.49%

43.55%

23.51%

0.00%

Over 20 yrs 5.31%

Vendor Guarantee

2.81%

0.00%

0.00%

0.00%

0.00%

Local Trader

9.33%

5.00%

0.00%

0.00%

0.00%

PRIME SHOPPING CENTRE INVESTMENT OPPORTUNITY 13

Accommodation and Tenancies Address & Occupier Unit

Tenant

1B

Lease Dates

Rent

Lease Length (Yrs/Days)

Lease Start Date

Lease Expiry

Next Review Date

Rent Review Pattern

Break Date

Current Gross Rent (£pax)

Current Gross Rent (£psf ITZA)

* ERV (£pax)

Pork Pride & Poultry Ltd (t/a Butlers Butchers)

10 years

16-Sep-2013

15-Sep-2023

16-Sep-2018

5 yearly

16-Sep-2018 (T)

£19,500

£23.80

£37,000

2A

Anne Helen Anderson (t/a Paprika)

5 years

25-Mar-2013

24-Mar-2018

-

25-Mar-2016 (T)

£25,000

£56.92

£24,000

2B

David Christopher Ltd (t/a David Christopher)

10 years

25-Mar-2009

24-Mar-2019

25-Mar-2014

£26,000

£52.50

£27,000

3

Vacant

£37,000

£55.00

£37,000

4

Claire’s Accessories UK Ltd (t/a Claire’s Accessories)

10 years

25-Dec-2010

24-Dec-2020

25-Dec-2015

£25,000

£63.75

£22,000

5

Draypoint Ltd (t/a Mobile Booth)

3 years

29-Apr-2013

28-Apr-2016

-

29-Apr-2015 (T& L/L)

£15,000

£38.25

£22,000

6

The Body Shop International Plc (t/a Body Shop)

10 years

25-Oct-2004

24-Oct-2014

-

-

£27,000

£70.00

£22,000

7

Darren & Kerry-Ann Oliver (t/a Krafty Monkey)

5 years

29-Apr-2013

28-Apr-2018

-

-

£16,000

£35.52

£23,000

8

Madison (Corsham) Ltd (t/a Madison)

5 years

30-Jun-2012

29-Jun-2017

-

29-Jun-2015 (T)

£16,250

£47.20

£19,000

9

S&V Ebborn (t/a Café No 1)

10 years

05-Aug-2009

24-Mar-2019

25-Mar-2014

5 yearly

-

£15,750

£58.18

£18,000

10 /11 Talk Talk Mobile Phones Ltd (t/a O2)

10 years

11-May-2012

10-May-2022

11-May-2017

5 yearly

11-May-2017 (T)

£45,000

£73.75

£37,000

12

Pink Planet (Games Exchange) Ltd (t/a Pink Planet)

10 years

24-Jun-2013

23-Jun-2013

24-Jun-2018

5 yearly

23-Jun-2019 (T)

£30,500

£52.50

£32,000

13

U/O to Vision Express

£35,000

£51.71

£37,000

14

EE Ltd (t/a EE)

8 years

21-Nov-2013

27-Apr-2021

28-Apr-2016

3 yearly

£53,000

£60.80

£48,000

15

C&J Clark International Ltd (t/a Clarks)

10 years

05-Oct-2011

04-Oct-2021

05-Oct-2016

5 yearly

£54,000

£59.15

£51,000

16

Shoe Zone Ltd (t/a Shoe Zone)

10 years 2 months 26 days

24-Jun-2011

18-Sep-2021

19-Sep-2016

5 yearly

£59,750

£59.70

£55,000

17

Specsavers Optical Superstores Ltd (t/a Specsavers)

15 years

31-Jan-2012

30-Jan-2027

31-Feb-2017

5 yearly

£60,500

£59.45

£56,000

18/19

Nero Holdings Ltd (t/a Caffè Nero)

10 years

08-Jun-2012

07-Jun-2022

07-Jun-2017

5 yearly

£40,000

£39.50

£54,000

20/21

Lloyds TSB Scotland Plc (t/a TSB)

10 years

08-Nov-2011

07-Nov-2021

08-Nov-2016

£60,000

£53.18

£51,000

22

Jason Anthony Messenger (t/a Toy Master/Thornton's)

15 years

29-Sep-1999

28-Sep-2014

£27,000

£40.00

£27,000

23

Atlas West Ltd (t/a Atlas West)

15 years

31-Mar-2003

30-Mar-2018

-

£24,500

£34.80

£28,000

27/28

Argos Ltd (t/a Argos)

25 years

19-Sep-1996

18-Sep-2021

19-Sep-2016

£87,500

£47.00

£76,000

29

Waterstones Booksellers Ltd (t/a Waterstones)

5 years

12-Jul-2013

11-Jul-2018

£49,000

£46.16

£48,000

30

Robert Dyas Holdings Ltd (t/a Robert Dyas)

10 years

23-Sep-2011

22-Sep-2021

23-Sep-2016

5 yearly

£67,500

£57.54

£54,000

31

Grabal Alok (UK) Ltd (t/a Store 21)

10 years 2 months 18 days

01-Jul-2011

19-Sep-2021

18-Sep-2016

5 yearly

18-Sep-2016 (T)

£81,317

£58.50

£64,000

32

New Look Retailers Ltd (t/a New Look)

15 years, 7 months, 13 days

16-Feb-2011

28-Sep-2026

28-Sep-2016

5 yearly

28-Sep-2021 (T)

£167,881

£10.71 psf

£167,881

33

Waitrose Ltd (t/a Waitrose)

15 years

21-Mar-2011

20-Mar-2026

21-Mar-2016

5 yearly

£80,982

£45.50

£93,000

34

JD Wetherspoon Plc (t/a The Bridge)

30 years

09-Sep-2009

08-Sep-2039

09-Sep-2014

5 yearly

£69,875

£16.30 psf

£69,875

5 yearly

-

TOTAL

5 yearly

05-Oct-2018 (T)

08-Nov-2016 (T)

09-Sep-2024 (T)

£1,315,805 Current Gross Rent Shortfalls Landlords Contribution to Marketing Head Rent Payment

£1,315,805 £0 £17,590 £92,264

Net Rent

£1,205,952

*Estimated Rental Value

£1,299,756

£1,299,756

Area (sq ft) ITZA

Ground Floor Sales

£45.00

1,024

1,240

1,240

Stepped rent; increases to £20,500 per annum from 16/09/2015, £21,500 per annum from 16/09/2016 and £22,500 per annum from 16/09/2017. Additional turnover top-up of 12% of gross turnover between £280,000 and £400,000 per annum.

£55.00

488

572

572

Stepped rent is £12,500 per annum until 24/03/2015, £25,000 per annum until 24/03/2016, £20,000 per annum until 24/03/2017 and £25,000 per annum until expiry. Vendor will top up the rent to £25,000 per annum until 24/03/2015.

£55.00

494

494

494

£55.00

788

985

985

£55.00

435

435

435

£55.00

435

435

435

Outside the 1954 Act. Rent deposit of £4,500 held.

£55.00

410

430

451

908

Solicitors instructed a new 3 year lease from expiry at £21,000 per annum.

£55.00

439

485

484

969

Outside the 1954 Act. Stepped rent increases by £1,000 every year to £19,000 in year 5.

£55.00

345

390

283

673

Outside the 1954 Act.

£60.00

298

298

365

The ancillary space for this unit refers to a remote basement area.

£60.00

544

960

959

1,919

£55.00

556

701

435

1,136

£55.00

755

984

606

1,590

£55.00

808

1,504

1,284

2,788

£55.00

837

1,821

1,225

3,206

£55.00

932

1,906

1,372

3,278

£55.00

890

1,486

1,276

2,762

£55.00

884

1,610

1,110

2,720

Tenant also pays a turnover rent which is 12% of Gross Turnover, less the "base rent". The base rent of £40,000 is subject to an U/O review to 80% of OMV.

£45.00

1,174

1,538

1,271

2,809

£30,000 penalty on break.

£40.00

637

910

590

1,500

Terms agreed for a new 5 year lease from expiry at £27,000 per annum, subject to six months' rent free.

£40.00

636

901

793

1,694

Personal rent concession which reverts back to £26,250 if Atlas West is no longer the tenant.

£40.00

1,670

4,887

4,550

9,437

£45.00

1,061

3,410

£45.00

1,097

4,058

1,460

5,518

£45.00

1,312

4,058

1,541

5,599

8,421

7,429

15,850

£10.71 psf £55.00

£17.43psf

1,780

Ground Floor Ancillary

Comments

* ERV (£psf ITZA)

27

First Floor Ancillary

67

160

Vendor will provide an 18m rent, rates and service charge guarantee.

6 month's rent penalty if break exercised.

New 5 year lease in solicitors hands at £35,000 per annum in Years 1-3 and £37,500 in Years 4 & 5. 9 months' rent free. Vendor will provide an 18m rent, rates and service charge guarantee until the letting is complete.

3 months' rent penalty if break exercised.

3,410

4,982

2,941

TOTAL NIA (Sq ft)

2,092

6 months' rent penalty on break

4,982

Rent reviews are fixed to £93,858 per annum in 03/2016 and £108,781 per annum in 03/2021. On expiry Waitrose Ltd has a personal option to renew for 15 years.

5,033

The rent increases by 7.5% at each 5 yearly review. Vendor will top up the rent to £69,875 in line with the September 2014 rent review.

Analysis based on applying 50% to first floor.

82,307 We have relied on areas supplied by the vendor. It is the prospective purchasers responsibility to satisfy themselves that these are correct.

PRIME SHOPPING CENTRE INVESTMENT OPPORTUNITY 15

-7

.30 PM )

NE WS WH AG SM EN ITH T& BO OK S GH BA AL RB TO ER S CH AR ITY B H O2 SH F OP

2

9.3 0A M

3

H

2B

CA FE

AD E

9

CO UN C

NT

RIK A

PA R

8

7

12

MO BO BIL OT E H

14

5

4

CL A L A IRE `S CC ES S

18

3

A

TH SH E B HE OP ODY BE ALT AU H TY &

CA

CH D RI AVI S D JW TOP PA LR HE R P

19

31

VA

2

RO UG H

18 -

BO

LO OK

30

17

1

31

32

B BU UTL TC ER HE S RS

M CA UNR FE OS BA R

1

ITR

OS

E

RO

ZO SP NE EC SA OP VE TIC RS IAN CA FF EN ER O

TS BA B NK

-2

15

SH OE

WA

P

(50) (ESTIMATED)

SE R AR VICE EA

Explore potential for residential development along the riverside.

OAD R E TON S D GLA Obtain vacant possession of this area upon expiry of lease in 2021 and convert into a retail unit.

Target unit for additional catering which is under provided for in the centre.

UN IT

FU MO NKY NK EY

NE W

WA TE R

ES HO OG U TA L

29

ST O

T

CA

20

10

-1 1

HO EE NE S CL AR KS

NU ON MB CO E ER SH FFE O E CA P FE

MA D L/W ISO N R

6

TE LE P

NE `S BO OK VA S B RIE ERT ST TY DY OR A ST ET OR S WE E NT YO CL NE OT HIN G

28

AR GO S WR OO M

27 -

22

V /O EX ISIO PR N ES S

13

SERVICE AREA

30

4

PIN KP LA EX GA NET CO CH ME M P AN S GA GE ME U

GL O TR BAL AV EL WES TH T AG OR EN CO NT T O NF NS &B IS

23

EN

TH E HO BRID PU U S GE BL E IC HO US E

S NG LI L E -7 DW 1

NA TW ES

PE N CO NY L NF AN &B E IS

1A

37

IL OF FIC ES

SU PE HE RD AL RU TH G &B EA UT Y

1

3-

WE ST CO R PA NW ST AL YC L O T/A

(C LO SE D

TH

TH A B

Purchase unit to complete ownership.

P (36) (ACTUAL)

1

B

6

TIM P SH SON RE OE P

G S

50

& LEWIS JEARY ICITORS SOL

51 - 5 2

SON E WOOTTEN & S UNDERTAKER

53

44

46

47

49 48 18 Asset Management Opportunities

• Obtain vacant possession on the area located between units 8 and 9 at the 54 55 expiry of the1lease in 2021 and convert into a retail unit.

56

TON 57 BUR EAR W 3 for additional catering offer which is under provided for5in the • Target Sunit N 8 E M Centre.

BC 59 HS K AN B • Carry out re-gear discussions with the Council regarding the head lease.

NE AG LLS EN T

RD T TO & ES SON TA TA LL G E SE TTIN RV G IC E EN ES CO T T N

2

7

MI

EN RICHUL T HA BER

&

BIS BA ES RB QU ER IR SH E`S OP

TH M E FLO RA S ON LC FI HO EY N UL SE P TU BR RV FL RE RE ITI OR CH D SH C HU SC AR S ROS CO MBU H S NF GS C H

C AM MIL L

TH E

& W R

17

N TIO ELA REV BOOKS

O U T

19

6

HALIFAX BANK

KE R

-1

SA NT AN DE R BA NK

15

ICELAND

-

S 14 AL R N I G EA RI W O S AN DIE M A O L R

OFFICE

CASH BROKERS

21 A

Borough Parade has become established as the prime retail pitch in Chippenham and is the 21 first choice for retailers looking at the town 20

FROZEN FOOD

13

(40) (ES

A4 ST AT IO NE JUL R IAN HOU CH ARI S E TY SHO P NATIONWIDE BUILDING SOCIETY

22

12

L

AP

23

11

O T B TR HO PTI OO CI TS AV MA EL S C ANS AG OO TH EN K E T W OR KS

-7

0

6

AT E

NS RIA ST DE (PE

7

SH 6 AM 5 or advertisement.

BL ES

& Carphone Clinton Cards, WH Smith, Superdrug, Warehouse and 3 Store.

T TIN EN

• No income is currently Look into options to increase this income source.

8

CE PLA

TEL L HO E G N HE A

64

) LY ON

KET MAR

R MA TE AG TA S E from commercialisation derived

EN T

5

TH E

BA RC BA LA NK YS

IA 67 BR E I T OC S • Explore the potential for residential development along the riverside.

ING ILD NS BU ASO SE Etargets S • There are major relocation from within Chippenham town centre U UR 66 HO RS FO LICBon E L B including: Dorothy Perkins, Marché, Holland and Barratt, Card Factory, L U PU F CO N • Purchase Munros Café Ito complete the ownership.

TAN Y

(160) (ESTIMATED)

IN T FO

CO BE RA T L G OF O

69

4

P

B BE ETF OF TTI RED FIC NG E

3

1 FaE leisure/retail development • Look to undertake located on the car park and CAF AFE C explore potential interest from Odeon Cinemas, Waitrose (upsize) and family friendly restaurants. There UR may be potential to provide a decked car park in TO WR 68 the car parking provision. order to facilitate theDEdevelopment whilst not losing M/ LO OL TH AR IN S G

10

W EL LI N

PE A H

S W E M

PL W AC OR E SH OF IP

EL BL LA CH UE NE AR CR IT OS Y GR S SH EG OP GS BA

9

BO OT CH S EM IS T

8-

D

CA R G RE D B AR E C TI TE AR NG LE PH CA PH O PA RD R O NE BA S S N O KE W NS E RY S AR 3S TE TO EH L RE O US CH E

25

7

DA FO NE TE L

FI TR RST AV EL AG ICE EN T VO

NU M LU BER NC O H NE BO CH CAFE X O

6

C

PG E H T E G S DI AR DS SA IN G B &E G C Q DS O U IP

1

EN T

ST RE ET UN IT 2

T

PH 4 ON ES TE L 4U

BA NK

F JE HIN WE DS LL ER

EN T

LL OY DS

29

PE EM TER M/ MS WR MI L L/W ANO &M R /W R EN

PO UN DI SC DL AN O UN D T ST O RE

TS B

BA NK

EN T

HIG H

1

CE X EM ER 5 Y 2 GA T

ST

EN T

EL NG EA TH

Leasing History T

L TE HO

Borough Parade opened in 1996 and 14 of the Centre’s 28 tenants have been in occupation since then, demonstrating their commitment to the scheme.

M

9-

USEUthe Almost all of the original leases expired in 2011 M Mand E vast majority have been ENHA E CENTR P P I G renewed, at rebased rents.

CH A T I ER

12

10

&H

A HO BE IC BL PU

Look to undertake a leisure/retail development on the car park.

Potential to provide decked car park with interest in the town centre from Odeon Cinema. Waitrose are potentially available for an upsize and family restaurants would be interested if an extension was delivered.

G 11 AFFIN NCY E T T S T AG EP N NC ME CO LOY P EM

In the past few years several national multiple retailers have been attracted to the Centre. These include Waitrose, Caffè Nero and Vision Express (in legals) who are all new to the town and Clarks, O2 and more historically, New Look, who moved across from Emery Gate Shopping Centre.

In our opinion, this demonstrates that Borough Parade has become established as the prime retail pitch in Chippenham and it is the first choice for retailers looking at the town.

Y C AS

TL

M HA N E

A BR LI

PRIME SHOPPING CENTRE INVESTMENT OPPORTUNITY

45 metres

17

Management / Service Charge The operating costs of the shopping centre are covered by a comprehensive service charge.

The service charge year is from 1 October to 30 September and the service charge accounts of the past three years are as follows: 2010/2011

£325,933

2011/2012

£293,223

2012/2013

£302,214

2013/2014

£283,988 (budget)

For the current year, the service charge payable by the tenants amounts between £2.91 and £3.34 per sq ft. By way of comparison, we understand the service charge in Emery Gate is currently circa £6.00 per sq ft.

There are two service charge caps. Caffè Nero has a cap of £8,500 per annum from the commencement of their lease in June 2012 which rises in line with RPI. In the current budget, their service charge is £7,840. Waitrose had an initial cap of £15,607 from March 2011 which also increases in line with RPI. Their current service charge is £14,289.

The landlord currently contributes 50% of the total marketing budget. The current contribution is £17,590 per annum.

Footfall

VAT We understand that the property is elected for VAT purposes.

It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

Proposal We are instructed to seek offers in excess of £15,722,000 (Fifteen Million Seven Hundred and Twenty Two Thousand Pounds), for our clients long leasehold interest in this property, subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 7.25% after purchaser’s costs of 5.80%

Further Information For further information or to arrange an inspection, please contact the sole agent: Richard Bashford JLL Tel: 0117 930 5737 richard.bashford@eu.jll.com

Chris Robinson JLL Tel: 0117 930 5865 chris.robinson@eu.jll.com

Ed Owen JLL Tel: 020 7318 7822 ed.owen@eu.jll.com

www.boroughparade-investment.com

The shopping centre had an annual footfall of 2.35 million people in 2013 which peaked at 230,000 people in December.

The footfall has regularly been above 50,000 per week in 2014, showing an increase on the 2013 figures.

EPC A full set of EPC’s are available for the centre and are located in the marketing website data room.

MISREPRESENTATION ACT 1967 | DISCLAIMER COPYRIGHT © JONES LANG LASALLE IP, INC. 2013. All rights reserved.

Jones Lang LaSalle Limited for themselves and for the vendor of this property whose agents they are give notice that: a) The particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract. b) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. c) No person in the employment of Jones LangLaSalle Limited has any authority to make or give any representation or warranty whatever in relation to these properties. d) All plans, maps and photographs provided are for indicative purposes only.

June 2014. Designed and produced by Creativeworld Tel: 01282 858200

PRIME SHOPPING CENTRE INVESTMENT OPPORTUNITY 19