35/37 HIGH STREET, NANTWICH, CW5 5DB ockleston bailey

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1 35/37 HIGH STREET, NANTWICH, CW5 5DB ocklesto bailey retail leisure ivestmet PRIME FREEHOLD RETAIL INVESTMENT LET TO WH SMITH RETAIL HOLDINGS LIMITED

2 Ivestmet Summary Prime promiet corer tradig locatio withi a Coservatio Area. Natwich is a attractive, highly desirable, affluet North West tow. A 15 year full repairig ad isurig lease to WH Smith Retail Holdigs Limited (Compay No ) from 11 Jue 2003, subject to 5 yearly upward oly ret reviews. The curret retal is 48,400 p.a.x. The property beefits from a extesive retur frotage to Churchyard Side. WH Smith have traded from the uit for over 50 years. Good future retal growth prospects. The passig retal is off 45 psf Zoe A. The property has ot bee registered for VAT. We are istructed to seek offers for our cliet s freehold iterest of 678,000. A purchase at this level would reflect a et iitial yield of 6.75% after the deductio of stadard purchasers costs of 5.8%. Locatio Natwich is a prosperous market tow i the Couty of Cheshire lyig approximately 4 miles southwest of Crewe, 19 miles southwest of Chester ad 15 miles orthwest of Stoke o Tret. The origis of the settlemet date back to Roma times. The tow beefits from excellet road commuicatios beig situated at the juctio of the A51 ad A534 which provides direct access to Chester ad Juctio 17 of the M6 motorway respectively. I additio, the A500 provides a direct lik to Juctio 16 of the M6 motorway ad Stoke o Tret. Liverpool Joh Leo Airport ad Machester Iteratioal Airport are withi a 45 miute drive from the tow cetre. Natwich has a populatio of 17,424 persos ad a total catchmet populatio of approximately 196,000 persos. Demograpics Natwich boasts a extremely affluet populatio highlighted by the table below. Households with a car/cars 10 Miutes drive-time Populatio as % GB Average Populatio as % 80.09% 72.56% I employmet 38.90% 37.68% Outright household ower Situatio 33.78% 29.55% The subject property occupies a prime corer tradig locatio o the pedestriaised High Street beig adjacet to Hollad & Barrett. Nearby multiple retailers iclude The Works, Fat Face, Chatwis, M & Co, NatWest, Savers, Caffe Nero, Ediburgh Woolle Mill, Johsos, Co-op Pharmacy, Specsavers, Natiowide Buildig Society, British Heart Foudatio, Clarks ad Max Spielma. WH Smith trade the subject property as a book store ad have a secod uit withi the tow at 52/54 High Street which operates solely as a statioery store. Descriptio The subject property is arraged o groud ad first floors ad is of brick costructio with multi-gable pitched tiled roof over. The elevatios o the upper floors are fiished i a paited, reder timber mock Tudor style with woode frame glazed, multi-pae leaded widows. The property is ot Listed but lies withi a Coservatio Area. The teat has arraged the uit to provide a groud floor sales area which has bee fitted out i the stadard WH Smith livery, ad storage accommodatio behid at the rear. Part of this storage accommodatio beefits from a widow frotage ad direct access oto Churchyard Side which WH Smith use for loadig purposes. The first floor provides storage accommodatio, a W.C., a maager s office ad staff area. Accommodatio The premises are arraged o groud ad first floors with the followig approximate areas ad dimesios:- Descriptio Sq ft Sq m Gross frotage (High Street) Widow frotage (High Street) Retur frotage (Churchyard Side) m m m Site depth m Iteral width (maximum) m Groud floor sales 1,573 sq ft sq m Groud floor stock 496 sq ft sq m First floor acillary 1,459 sq ft sq m ITZA 950 uits

3 Teure The property is held freehold, subject to the teacy listed below. Teacy The property is let to WH Smith Retail Holdigs Limited by way of a 15 year full repairig ad isurig lease from 11 Jue 2003, subject to 5 yearly upward oly ret reviews, at a curret retal of 48,400 (forty eight thousad four hudred pouds) p.a.x. Retal Aalysis We calculate the passig retal of 48,400 p.a.x. equates to 45 psf Zoe A after allowig 4.00 psf for the groud floor store ad 2.50 psf for the first floor storage area. Ay additio for the beefit of the retur frotage has bee off-set agaist the iteral cofiguratio. We are of the opiio that the prevailig Zoe A rate offers good future growth prospects. Fat Face took 48 High Street directly opposite the subject property i the Summer of 2012 with a retal rumoured to equate to 53 psf Zoe A. Coveat Iformatio WH Smith was established i 1828 ad is oe of the UK s leadig retail groups ad a household ame with over 600 stores o the high street ad over 600 stores at airports, trai statios, hospitals ad motorway services. WH Smith Retail Holdigs Limited (Compay No ) has a Equifax credit check ratig of B (very good). We set out below the most recet fiacial iformatio available for the teat: Turover 169, , ,000 Pre-Tax Profit 141,000 /a 181,000 Net Worth 466, , ,000

4 EPC The Eergy Performace Certificate is attached to the rear of these particulars. VAT The property has ot bee elected for VAT. Proposal We are istructed to seek 678,000 subject to cotract, reflectig a et iitial yield of 6.75% after deductig the usual purchaser s costs of 5.8%. Further Iformatio For further iformatio, or to arrage a ispectio of the property, please cotact: Hugh Ocklesto, Ocklesto Bailey hugh@ocklestobailey.co.uk SUBJECT TO CONTRACT Produced by Word Perfect Prit. T: E: brochures@wordperfectprit.com Misrepresetatio Act 1967 Ocklesto Bailey Ltd (ad their joit agets where applicable) for themselves ad for the vedors or lessors of this property for whom they act, give otice that : (i) these particulars are a geeral outlie oly, for the guidace of prospective purchasers or teats, ad do ot costitute the whole or ay part of a offer or cotract; (ii) Ocklesto Bailey Ltd caot guaratee the accuracy of ay descriptio, dimesio, refereces to coditio, ecessary permissios for use ad occupatio ad other details cotaied herei ad prospective purchasers or teats must ot rely o them as statemets of fact or represetatios ad must satisfy themselves as to their accuracy; (iii) o employee of Ocklesto Bailey Ltd (ad their joit agets where applicable) has ay authority to make ay represetatios or warraty or eter ito cotract whatever i relatio to the property; (iv) prices/rets quoted i these particulars may be subject to VAT i additio, (v) Ocklesto Bailey Ltd will ot be liable, i egligece or otherwise, for ay loss arisig from the use of these particulars.

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