33 MONSON ROAD, ROYAL TUNBRIDGE WELLS, TN1 1LS WELL SECURED RESTAURANT INVESTMENT LET TO ASK RESTAURANTS FOR A FURTHER 17 YEARS

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1 33 MONSON ROAD, ROYAL TUNBRIDGE WELLS, TN1 1LS WELL SECURED RESTAURANT INVESTMENT LET TO ASK RESTAURANTS FOR A FURTHER 17 YEARS

2 INVESTMENT CONSIDERATIONS Located in the affluent commuter town of Tunbridge Wells, benefiting from excellent communications to London Bridge, Charing Cross and Cannon Street Let to the 5A1 tenant Azzurri Restaurants Limited until 2033 (17 unexpired years) Situated immediately off Tunbridge Well s prime retail and leisure pitch Comprising ground floor restaurant accommodation and basement ancillary space totalling approximately 3,617 sq ft Freehold Rent of 85,250 pa Offers sought in the region of 1,690,000 (One Million Six Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 4.75% assuming purchaser s costs of 6.11%.

3 LOCATION Royal Tunbridge Wells is a prominent spa town located within the county of Kent in close proximity to its border with East Sussex. The historic and affluent town is approximately 30 miles (48 km) south east of London, 17 miles (27 km) south west of Maidstone, 12 miles (19 km) south of Sevenoaks and 24 miles (39 km) east of Crawley. Royal Tunbridge Wells benefits from excellent transport links. ridge J10 LONDON Ilford A40 Southall A13 M25 London M4 City Brentford Hounslow Fulham A2 Heathrow A316Richmond Clapham Dartford Ashford Kingston J2 Upon Thames A20 3 A309 A3 A23 Bromley Swanley J3 n-on-thames A232 Croydon A21 M25 M20 Epsom Shoreham eigh A217 Biggin Hill A22 J9 M25 J8 J7 J6 Oxted Dorking Reigate Redhill A24 M23 Horley Gatwick A264 Crawley Three Bridges North A264 East Grinstead Horsham Horsham J5 M26 Sevenoaks Gravesend A26 A21 Tonbridge ROYAL Paddock Wood TUNBRIDGE WELLS Benfleet Sou Canvey Stanford-le-Hope Island Rochester Gillingham M2 Snodland M20 Maidstone Staplehurst A229 erden Down Hurstwood Lane p s Down Road Byng Road Connaught Way Earl s Road Molyneux Park Road A264 Bisho p s Down Road Royal Chase A26 Castle Road Culverden Park Kent & Sussex Hospital Mount Ephrain Sandown Place Culverden St Rock Villa Rd Hanover Rd Mount Ephraim Road Lime Hill R oad Clarence Road A26 St. John s Road A26 Dudley Road York Road A264 Church Road A26 London Road Lonsdale Gardens Vale Road Grosveonr Road Royal Tunbridge Wells B2023 High Street A26 Mount Pleasant Road Upper Grosvenor Road Royal Victoria Place Shopping Centre Newton Road Monson Roa d Victoria Road Calverley Road A264 Crescent Road B2023 Grove Hill Road Camden Road Garden Road Lansdowne Rd A264 Calverley Park Calverley Park Gardens Calverley Road Bayhall Road B2023 Prospect Road Dunorlan Park Pembury Road Camden Park TRANSPORT LINKS Tunbridge Wells Train Station provides direct routes to Central London with a fastest journey time of 45 minutes to London Bridge, 54 minutes to London Charing Cross and one hour to London Cannon Street. Tunbridge Wells benefits from superb road communications being located on the A21 which links directly to Junction 5 of the M25 approximately 12 miles (20 km) north providing access to London and the wider national motorway network. In addition to the south the A26/7 connects the town with Brighton, Eastbourne and Hastings. Gatwick International Airport, London s second largest airport, is located 24 miles (39 km) to the west.

4 ROYAL VICTORIA PLACE SHOPPING CENTRE SITUATION The property is situated on the southern side of the western end of Monson Road immediately off the town s prime retailing and leisure pitch on Mount Pleasure Road. The property benefits from a return frontage and prominent corner location close to the street s junction with Newton Road. Nearby occupiers comprise a number of national multiples including Marks & Spencer, Fenwick Department Store, Waterstones, Topshop, New Look and Fat Face amongst many others. Tunbridge Wells Train Station is situated 0.3 miles (0.5 km) to the south (0.3 miles) and Royal Victoria Place Shopping Centre is 0.2 miles (0.3 km) to the north. DESCRIPTION The subject property comprises a restaurant arranged over ground and basement floors. The ground floor comprises restaurant accommodation of approximately 90 covers with the kitchen and preparation area to the rear. The basement provides ancillary storage accommodation and customer WC facilities. In addition there is a small courtyard to the side of the property which provides external seating for approximately 12 covers. MOUNT PLEASURE ROAD ACCOMMODATION Description NIA GIA sq ft sq m sq ft sq m 1, , Basement 1, , Total 3, , Ground Floor Restaurant Ground Floor Kitchen North 50 metres Copyright and confidentiality Experian, Crown copyright and database rights OS Crown Copyright, ES For identification purposes only.

5 DEMOGRAPHICS AND POPULATION Tunbridge Wells has a primary catchment area of 307,000 with an estimated shopping and leisure population of 186,000. The town is projected to see an above average growth in population over the period Tunbridge Wells has a significantly above average proportion of the population falling within the most affluent AB social group; in contrast the least affluent D and E social groups are particularly underrepresented. Reflecting the affluent population the town s retail and leisure spending per capita is significantly above the national average and this is expected to see further growth over the period Tunbridge Wells also benefits from being a popular tourist location receiving approximately 308,000 visitors per year generating an annual spend of 58 million. TENANCY The entire property is let to AZZURRI RESTAURANTS LIMITED on a full repairing and insuring lease for a term of 35 years from 17th September 1998 expiring 16th September 2033 at a current passing rent of 85,250 pa. The rent is subject to open market 5 yearly upwards only rent reviews. Please note the current rent passing was increased from 82,500 at the 2013 review which was decided at arbitration - a copy of the arbitration report is available on our dataroom. COVENANT The Azzurri Group is a market leader in the Italian casual dining sector, operating ASK Italian, Zizzi and Coco di Mama. The Group employs nearly 6,000 people, serving over 15 million meals a year in their growing estate of over 250 restaurants and shops. Date of Accounts 28 Jun Jun Jun 2013 Turnover (000 s) 217, , ,947 Pre-Tax Profit (000 s) 17,357 30,436 4,897 Total Net Worth (000 s) 45, , ,386

6 EPC The property has an EPC rating of F142. VAT The property is elected for VAT and it is anticipated that the transaction will be treated as a transfer of a going concern (TOGC). DATAROOM Further information is provided in the dataroom. For access please register on the following website PROPOSAL Offers sought in the region of 1,690,000 (One Million Six Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 4.75% assuming purchaser s costs of 6.11%. For further information or to make arrangements for viewing please contact Liam Stray liam.stray@allsop.co.uk Alex Butler alex.butler@allsop.co.uk Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: CommandD