TRINITY RETAIL PARK ST PETER S WAY, BOLTON OPEN A1 RETAIL WAREHOUSE INVESTMENT

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1 RINIY PEER S WAY, OPEN A AIL WAHOUSE INVEMEN

2 RINIY PEER S WAY, INVEMEN SUMMARY Bolton has an estimated total population within the primary catchment area of 9,000 people. An open A non-food retail park comprising retail warehouse units and a drive-thru unit totalling 4, sq ft. Prominent and highly accessible location adjacent to the town centre and the A. Fully let and income producing. oys R Us have been in occupation since 994 with significant goodwill attached to the store. Opportunity to pursue regears with oy R Us and Burger King. Opportunity to drive rent on Burger King on the back of the new letting to Costa, adjacent to the park entrance. New letting to Ninja Nation, building on the success of soft play/leisure activities at the park. Freehold. Contracted rent of 9,49 per annum, reflecting a low average level of 0. psf. AWUL of. years (4. years to break). We are instructed to seek offers in excess of 9,000,000 (Nine Million Pounds Sterling) subject to contract and exclusive of VA. A purchase at this level would reflect a Net Initial Yield of 9.0% after allowing for purchasers costs of.%. Option to buy the Isle of Man based SPV company.

3 RINIY LOCAION Bolton is a major regional centre within Greater Manchester, 4 miles (. km) north west of Manchester. Bury and Rochdale are to the east, along the M0/M motorways, about miles ( km) and miles (9 km) respectively. Rail services connect the town with central Manchester with a journey time of 0 minutes which provides good rail links to London Euston, with a total journey time of approximately hours 4 minutes. Manchester International Airport is located 0 miles ( km) to the south east. he town has good road communications, situated between the M and M motorways providing access to Junctions 4 and respectively of the M0 motorway, within. miles (4. km). Leyland M M Standish Wigan 4 9 Chorley Warrington Leigh Darwen Rawtenstall 4 Worsley M Bury SUBJEC PROPERY Sale Whitefield M Heywood 0 9 Middleton Prestwich Swinton 4 Eccles 0 Salford Rochdale Oldham MANCHEER Stockport M M0 A CHORLEY OLD ROAD DEANE ROAD B CHORLEY NEW ROAD A B0 MAYOR A099 A9 HELEN S ROAD A9 MOOR LANE BLACKBURN RD OPP WAY B04 B0 A URON RINIY E Bolton PEER S WAY A, BL HY MANCHEER ROAD ONGE MOOR ROAD A A9 A PEER S WAY B0 A B0 SUBJEC PROPERY B09 RADCLIFFE ROAD HICKEFORD RD CROMPON WAY BURY ROAD B09 LONG LANE SHOPPING PARK MORRISONS RAILWAY AION CENRAL BURNDEN A OWN CEN A9 COA BURGER KING OYS R US A OFFICE OULE JUMP XME NINJA NAION A GAE Leyland Bolton has an urban population of,00 persons (Source: 00 ONS Estimate). Bolton is categorised by PROMIS as a Sub Regional Centre, with a total population within the Bolton primary catchment area of 9,000, above the Sub Regional Centre average and ranking the town out of the PROMIS Centres. Bolton has a household catchment of,04 within 0 minutes drive and, within 0 minutes drive. rinity Retail Park is situated in a prominent location fronting St Peter s Way Skelmersdale (A), approximately 0. miles south of Bolton town centre. he site is accessed via Lower Bridgeman Street (A9). he subject property is within close proximity to a number of major food stores including ASDA, Morrisons, esco, and Sainsbury s. M 4 Chorley M rinity Retail Park prominently situated fronting St Peter s Way (A), 0. miles south of Bolton town centre Leigh Little Hulton 4 Worsley M Radcliffe 4 0 Bury Eccles Whitefield Swinton M Salford CACHMEN Subject Property 0 minutes 0 minutes Heywood M Prestwich 9 Rochdale Middleton 0 M0 MANCHEER 4 9 Sale Stockport Warrington

4 CK BA DESCRIPION HI LD P St 0 E 44 EE R N DE HIL urt 4 4.m E 0 0 R E PE YN LW 9 4 SE 4 'S EN LD HI K BAC AY CK BA W E HIL ro N DE Bo Co nst E 4 y Bd ES W EE ard N DE HIL R &W H E 4 OK WEBRO SPRINGFIELD ank 9.0m th Pa Slo ping mas Slo on ping ry mas on ry Cro al iv er e us h Ho ac d Co R Ol E PLANNING he site area is approximately 4.9 heactares (.4 acres), which equates to a low site cover of c.%. his provides the potential to consider the development of a further leisure pod, subject to planning. RC BI Superstore here is additional staff parking. rinity Retail Park 'S ON Freehold. R HE Planning permission was granted in January 994 for the erection of buildings comprising non-food retail with car parking/servicing/loading/turning facilities and new vehicular access. Pipeline Further permission was granted in May 994 to provide for a drive-thru fast food unit with associated car parking areas. 9 ENANCIES Y WA ENU 0 he scheme benefits from an Open A (non-food) planning consent. 49 NINJA NAION FIING OU here were no restrictions on sub-division within the original consent. rinity Retail Park Play Area HERON'S WAY Sloping masonry 0m Area (sq. ft) Lease Start Date Lease Expiry Date Rent Review Dates Ninja Nation Ltd Full repairing 0,04 04/0/0 0/0/0 & Jump Xtreme Limited 0,00 //0 //0 //0 4 SUK Retail Ltd (ex-staples Europe Ltd),0 4/0/0 /0/0 4/0/0 9/09/04 Break Clause Dates 4/0/0 Annual Rental Income Rent /sq.ft 90, Step rent: Yr : 0,9 /Yr :,9 /Yr : 90,44 /Yr 4: 9,4 /Yr : 00,40. - Landlord will top up to the year rent. - First months rent free to be topped up by landlord. - months rent free at beginning of year to be topped up by landlord. - Subject to a schedule of condition. - enant exempt from major individual service charge items in excess of 0, Rent deposit of 4, enant to install,000 sq ft mezzanine. 0, Rent topped up for step between //0 and /0/0. - Rent deposit of 4, /09/0 side letter to permit rent payment on a monthly basis at half rent. - 0% of rent payment to be covered by draw down on rent deposit., Break option: tenant only / month notice. - months half rent free from term commencement to be topped up. - If tenant does not exercise the break, it will be awarded a 0% reduction in rent for months. - Service charge cap on management fees, current shortfall of,4. pa. oys R Us Limited 4, 9/09/994 /09/09 0, Burger King Limited,44 4/0/994 /0/09 9, 4.40 Substation Norweb Pic 0//994 9//09 0 4, 4 Lease Nature l OSE enant River Croa masonry m IN CL ER Unit m HE NC Current contracted rent of 9,49 pa. Sloping 0 BACK MA 0m DUNL Let to occupiers, with substation lease to Norweb. Co oys R Us spaces plus for pick-up Burger King spaces Other Units 0 spaces otal EN 9 rs ete SM.m he park comprises five retail warehouse units and a drive-thru unit totalling approximately 4, sq ft (, sq m) with an excellent parking provision of car spaces plus for pick-up at oys R Us, reflecting a ratio of : sq ft. Comments Easement. 9,49

5 COVENAN ANALYSIS Ninja Nation Ltd have a D&B rating of O Jump Xtreme Limited have a D&B rating of A Jump Xtreme have trampoline parks across the UK in Bolton, Bury and amworth. he parks are amongst the largest in the UK and each include over 00 interlinked trampolines. Non 0 Oct 0 angible Net Worth 94,9 Net Current Assets (Liabilities) (,) SUK Retail Ltd have a D&B rating of N4 Office Outlet rebranded from Staples in February 0. he US-based stationery specialist agreed to sell its UK retail business and operations, which employs,00 people, to Hilco Capital in November 0. Hilco has also moved to streamline its property, by attempting to shed up to,000 sq ft from its store portfolio by sub-letting space in larger stores. he rinity Retail Park Store was unaffected by this strategy. 0 Jan 0 ( 000 s) 0 Jan 0 ( 000 s) 0 Feb 04 ( 000 s) Sales urnover 9,090 9,, Profit / (loss) Before axes (,) (4,9) (,0) angible Net Worth (,) (,) (,) oys R Us Limited have a D&B rating of A oys R Us is an American toy and juvenile-products retailer founded in 94 and headquartered in New York. he company owns or licenses oys R Us and Babies R Us stores in the United States and Puerto Rico, more than 0 international stores and more than 4 licensed stores in countries and jurisdictions. he US arm filed for bankruptcy in September 0, however the European business, which includes 0 stores and more than,00 staff in the UK, is separate from the US. he retailer, which arrived in the UK in 9, is still planning to open four more stores in Britain before Christmas. Jan 0 ( 000 s) 0 Jan 0 ( 000 s) Jan 0 ( 000 s) Sales urnover 4, 4,94 4,9 Profit / (loss) Before axes,0,0 9 angible Net Worth 9,,4 0, Burger King Limited have a D&B rating of N Burger King, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. he company began in 9 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain. Dec 0 ( 000 s) Dec 04 ( 000 s) Dec 0 ( 000 s) Profit / (loss) Before axes (,49) (4,) (,9) angible Net Worth (9) (,4) (4,) here is a 0 Underlease to Karali Limited who have a D&B rating of A. he Karali Group is one of the largest franchisees and was the winner of the AB Award s Franchisee of the year in 04. Dec 0 Dec 0 Dec 04 Sales urnover,40,0,, 49,449,0 Profit / (loss) Before axes,09,,9,0,0, angible Net Worth,,49,4,90,9, 9

6 A099 A MIDDLEBROOK AIL & LEISU PARK A A CHORLEY NEW ROAD DE HAVILAND WAY CHORLEY ROAD A M A VICORIA ROAD A BEAUMON ROAD A CHORLEY OLD ROAD B CHORLEY NEW ROAD A B0 A DEANE ROAD GAE SHOPPING PARK A9 HELEN S ROAD A9 MOOR LANE BLACKBURN RD OPP WAY PEER S WAY RINIY E CENRAL ONGE MO MANCHEER ROAD BURNDEN OR ROAD A A9 A PEER S WAY B0 B0 CROMPON WAY RINIY B09 RADCLIFFE RO AD INVEMEN MARKE UK retail warehouses transaction volumes have rocketed in 0 with competition for space driven by online shopping. Volumes to date in 0 reflect the confidence and impetus in the market. Consumer confidence remains relatively robust which is filtering through into positive investor appetite across the sector. New buyers are appearing alongside local authorities and the traditional institutional investor base, placing downward pressure on yields across the board for better quality assets. 0 is expected to finish strongly as the sector continues to compare favourably to alternative sub-sectors. AIL WAHOUSING PROVISION IN Bolton s retail warehouse provision (non food) includes the subject property, Middlebrook Retail Park, Bolton Gate Retail Park, Bolton Shopping Park, Burnden Park and Central Retail Park. We summarise the main non food and food provision within Bolton below and the map above. Bolton is ranked 9 out of the PROMIS Centres in the UK in terms of Retail Warehouse supply. NON-FOOD Scheme Area (sq ft) Main enants Rental one Comments Middlebrook Retail & Leisure Park Bolton Gate Retail Park, Boots, Next Home, Sports Direct 0 psf Bolton s largest retail park developed in 99 by Orbit Developments. Predominantly bulky goods with the exception of anchor stores.,00 PC World, Dunelm Mill, Jysk, Bensons rinity Retail Park 4,9 oys R Us, Staples, Jump Extreme, Burger King, Ninja Nation Bolton Shopping Park 0,000 K Maxx, J Hughes, Peacocks, Decathlon, Boots and Next Burnden Park 4,49 Home Bargains, DW Sports, Poundstretcher Central Retail Park FOOD,0 Pets at Home, Iceland, B&M Maplin, Exercise 4 Less Scheme Area (sq ft) Food Stores Bolton Shopping Park, Sainsbury s Blackhorse Street, Morrisons rinity Way,000 Aldi Burnden Park,0 Asda psf (small) psf (large) c. 0 psf psf (small) psf (large) Developed in 99, the park has a part open and part bulky goods consent. Open A (non-food) planning consent. Developed in 00 Part Open A food and part non food planning consent together with an A pod and two storage units with planning consent for B use. psf Developed in 00 by Orbit Developments, the scheme benefits from Open A consent. psf (small) 0 psf (large) Developed in 9 the park has an Open A planning consent. Bolton is ranked 9 out of the PROMIS Centres in the UK in terms of Retail Warehouse supply Location enants Size (Sq Ft) Moorgate Retail Park, Bury Central Retail Park, Rochdale Clough Road Retail Park, Hull Wells Green Retail Park, Birmingham EPC Full EPC reports can be provided on request. EAE S CHARGE Further information on request. VA he property has been elected for VA and therefore VA will be payable on the purchase price. PROPOSAL We are instructed to seek offers in excess of 9,000,000 (Nine Million Pounds Sterling) subject to contract and exclusive of VA. A purchase at this level would reflect a Net Initial Yield of 9.0% after allowing for purchasers costs of.%. Option to acquire the Isle of Man based SPV company. FOR VIEWINGS & ENQUIRIES For further information or to arrange a viewing please contact Simon Marshall simon.marshall@cushwake.com 0 4 Craig Barton craig.barton@cushwake.com 0 4 Giovanni Pilla giovanni.pilla@cushwake.com 0 MISPSENAION AC Cushman and Wakefield, their clients and any joint agents give notice that: (i) hese particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. (ii) No person in the employment of the agent(s) has any authority to make or give representation or warranty whatever in relation to this property. (iii) Floor areas, measurements or distances given are approximate. Unless otherwise stated, any rents, or outgoings quoted are exclusive of VA. (iv) Any descriptions given of the property cannot be taken to imply, it is in good repair, has all necessary consents and is free of contamination, or that services and facilities are in working order. Interested parties are advised to carry out their own investigations as required. October 0. Designed and produced by Creativeworld el: 0 00 Price Unexpired erm (Years) Home Bargains, Carpetright, Halfords, Farmfoods and Kfc,,000, % Marketing Halfords, Argos, Matalan and, 4,,000..0% Marketing Poundstretcher Currys Pc World, Go Outdoors,,00,00,000 C.9.0.% Aug Halfords, Staples, Costa and Smyths oys Dreams, Pets At Home, Halfords,00,00,000..4% Jun NIY Date 0

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