Chandler's Wharf Retail Park Bridge Road, STOCKTON-ON-TEES, TS18 3BA

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1 WELL SECURED, FREEHOLD LEISURE INVESTMENT OPPORTUNITY 77% OF INCOME SECURED AGAINST MECCA BINGO LIMITED WITH 11 YEARS UNEXPIRED Chandler's Wharf Retail Park Bridge Road, STOCKTON-ON-TEES, TS18 3BA passionate about property

2 INVESTMENT SUMMARY LOCATION A well secured leisure investment opportunity providing a total of 5,794 sq m (62,365 sq ft) Situated on a prominent site to the south east of Stockton town centre, fronting the River Tees Stockton-on-Tees is a University town in the north-east of England with a population of 84,000 and a wider borough population of 191,000. It is located on the border of County Durham and North Yorkshire and is situated approximately 31 miles south of Newcastle-Upon-Tyne, 42 miles north of York and 5 miles west of Middlesbrough. Stockton-on-Tees is a sub-regional centre which forms part of the Teeside conurbation including Middlesbrough, Redcar and Billingham. The main road communications in the area are good with the A19 to the east linking Sunderland and Newcastle-Upon-Tyne and the A1(M) is located 10 miles to the west of Stockton-on-Tees and is accessed via the A66 Dual Carriageway. Stockton railway station lies on the East Coast mainline and provides services to London King s Cross with the fastest journey time being 3 hours and 30 minutes. Let to 3 excellent tenants: Mecca Bingo Limited Burgerking Limited and Grosvenor Casinos Limited Average unexpired term of 13 years + A689 A167 NEWTON AYCLIFFE A1(M) SEDGEFIELD A177 A689 HARTLEPOOL A19 A689 A19 A1185 BILLINGHAM TEESPORT REDCAR Stockton A139 Wellington Square R I V E R Castlegate T E E S Infinity Bridge University College Total income of 486,800 pa Site area of approximately 2.6 hectares (6.6 acres) with genuine scope to develop further on the site A167 DARLINGTON A66 STOCKTON-ON-TEES A67 A135 A172 THORNABY ON TEES A66 MIDDLESBOROUGH A174 A135 Chandler's Wharf Retail Park Victoria Bridge HMS Bark Endeavour A1130 Thornaby MALTBY Price 5,750,000 A66(M) Durham Tees Valley Airport A19 Net initial yield 8% STOKESLEY A66 SITUATION Chandler s Wharf is situated immediately to the south east of the town centre and is well located on the north bank of the River Tees. The site has prominent frontage and is bordered by the A1130 (Bridge Road) to the south, A1305 (Riverside) to the west and River Tees to the east. The immediate vicinity is characterised by a mixture of retail, offices and residential accommodation with a Halfords and Matalan in close proximity and the Castlegate Quay Watersports Centre adjacent. To the north is Castlegate and to the east across the river is Teesdale Business Park, providing modern office accommodation and Queens Campus of Durham University. To the south of the site are recently developed student apartments and to the west is a mixture of office and light industrial buildings. The town s main bus terminus is immediately to the north of Chandler s Wharf Retail Park.

3 Wellington Square High Street Castlegate Yarm Lane (A1305) Riverside Parkfield Road Revised road route HMS Bark Endeavour Castlegate Quay Watersports Centre Chandler's Wharf Retail Park 1825 Way (A135) Bridge Road (A1130) Area for Restaurant and Pub/Budget Hotel opportunities Victoria Bridge

4 Unit 2 DESCRIPTION The property comprises a 1980 s purpose built Retail Park on a level site of approximately 2.6 hectares (6.6 acres) and currently provides 3 units. The property is well served with car parking since there are in excess of 372 spaces on site. RK TERRACE Government Offices Hotel Multi-Storey Car Park New Road Plan and Site Unit 2 is an 80 s built Bingo Hall (Mecca) which is the predominant unit on the Park whereas Unit 3 is a stand-alone drive-thru restaurant situated to the south of the site (Burger King). Unit 2 benefits from a service yard immediately to the north with vehicular access from Moat Street. RIVERSIDE M O AT S T R E E T Castlegate Quay Watersports Centre Service Yard R I V E R T E E S Unit 3 Unit 4 is a new 6 million Grosvenor Casino built immediately adjacent to the Mecca Bingo club which opened in late September the 2 storey casino operates under the company s G Casino brand which combines traditional casino gaming with food, drink and entertainment. Grosvenor built the Casino at their own cost in return for a lease with reviews to 25% of ERV this is therefore very well secured income with future potential for a substantial reversion. Not to scale. Indicative only WAY BRIDGE ROAD Proposed Restaurant Proposed Pub / Budget Hotel To the southern corner of the site is a disused brick built former Autocentre which provided an office area and 4 bays under a profiled sheet roof. Unit 4 NEW ROAD LAYOUT The scheme is strategically located at the Southern Gateway to Stockton, adjacent to Victoria Bridge within easy walking distance to the town centre. Part of the site is making way for a re-designed road junction. Riverside will be aligned to link directly with 1825 Way, where it crosses Bridge Road, to create better connections from South Stockton into the town centre to support its economic growth and vitality. The new road layout will also form part of the new bus network.

5 SCHEDULE OF ACCOMMODATION AND TENANCY As you will note from the attached Schedule of Accommodation and Tenancies, the property is currently let to 3 tenants and produces 486,800 per annum. Unit Tenant Accommodation Lease Next Lease Expiry Rent Rent Comments sq m sq ft Start Rent Review (TOB) Per Annum psf Unit 2 Mecca Bingo Limited 3,841 41,344 29/09/ /09/ /09/ , Unit 3 Burgerking Limited 263 2,830 24/06/ /06/ /06/ , Unit 4 Grosvenor Casinos Limited 1,690 18,191 28/10/ /10/ /10/ , Assumed area of 14,230 sq ft (TOB 28/10/2025 (1) ground floor and 3,961 mezzanine and every 5 years - 18 months rent free - Vendor thereafter) to top up. *(1) 25% of ERV Total 5,794 62, ,800 COVENANT SCHEDULE Unit Covenant Year End Turnover Pre-Tax Profit (Loss) Net Worth (Deficit) Unit 2 Mecca Bingo Limited 31/12/ ,500,000 41,000, ,500,000 31/12/ ,600,000 17,600, ,000,000 Unit 3 Burgerking Limited 30/06/ ,000,000 ( 6,200,000) ( 9,500,000) 30/06/ ,700,000 ( 6,600,000) ( 17,100,000) Unit 4 Grosvenor Casinos Limited 31/12/ ,100,000 29,700, ,900,000 31/12/ ,400,000 16,900, ,800,000 TENURE The property is held freehold. VAT The property is elected for VAT and therefore VAT will be payable on the purchase price.

6 On behalf of PRÆDIA INVESTMENTS LIMITED A CARDINAL LYSANDER GROUP COMPANY ASSET MANAGEMENT OPPORTUNITIES 1. Potential to add a restaurant / pub / budget hotel to the southern end of the site to increase the income. 2. The potential to increase car parking on soft landscaped areas. 3. Substantial future reversion on the Grosvenor Casino unit. PROPOSAL We are instructed to seek offers in excess of 5,750,000 (Five Million, Seven Hundred and Fifty Thousand Pounds) which reflects a net initial yield of 8% after purchaser s costs of 5.8%. FURTHER INFORMATION For further information please contact: passionate about property Kevin Surplice kevin@awsltd.co.uk Chris Adams cadams@cbga.co.uk Alex Butler abutler@cbga.co.uk Misrepresentation Act. This brochure has been produced for illustrative purposes only and all prospective buyers should note that it is solely intended for their guidance and assistance and nothing contained in it should be considered as a definitive representation or legally binding warranty. All areas, measurements and layouts referred to are given as a guide only and are subject to change due inter alia to design development. Our obligations under the Property Misdescriptions Act 1991 are not affected and every effort Chandler's has been made to Wharf ensure that Retail no statements Park, Bridge made in this Road, brochure Stockton-on-Tees, are false or misleading. No TS18 material 3BA contained within this brochure may be reproduced without prior consent. October 2011 Designed & produced by Oracle Creative