LIDL, 5 LOW WALK, WELLINGTON CENTRE, ALDERSHOT, GU11 1DB

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1 PRIVATECLIENT LIDL, 5 LOW WALK, WELLINGTON CENTRE, ALDERSHOT, GU11 1DB LONG LET SOUTH EAST SUPERMARKET INVESTMENT WITH FIXED UPLIFTS

2 LIDL, 5 Low Walk, Wellington Centre, Aldershot, GU11 1DB Investment Considerations Attractive town centre foodstore investment Situated in the affluent South East commuter town of Aldershot Let to the excellent covenant of LIDL UK GMBH for a minimum of 7.75 years (to first break) The unit comprises a total of 1,285.8 sq m (13,841 sq ft) of modern, well configured floor space Current net rent of 150,719 per annum Fixed rental uplifts every 5 years with a net rent rising to 179,005 per annum in June 2020 The property forms part of the Wellington Shopping Centre which is home to a number of national retailers including Boots, WH Smith, Wilko, Argos, Sports Direct and Vodafone Held Long Leasehold with approximately 147 years to run Offers are sought in excess of 2,360,000 (Two Million Three Hundred and Sixty Thousand), subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 6.00% based on the net rent with a guaranteed reversionary net yield of 7.13% from June 2020 after allowing for purchaser s costs of 6.38%.

3 d LIDL, 5 Low Walk, Wellington Centre, Aldershot, GU11 1DB A40 Wembley nley-on-thames Uxbridge A40 Maidenhead Slough g LONDON M4 Fulham Windsor Hounslow M4 Heathrow Richmond Clapham A316 Staines Ashford Kingston Upon Thames A309 Wokingham Ascot A3 Bro A23 A322 Tolworth A24 Weybridge Croydon A232 A23 M25 Chessington Sutton A243 M3 Epsom Woking M25 Bigg A22 Famborough A3 A217 Fleet A331 M25 A24 Oxted ALDERSHOT Reigate M23 A31 Dorking Redhill A22 Famham Guildford Godalming Horley on Gatwick Witley Cranleigh A264 d ems Avenue ueens Road York Road Ayling La Queens Road Church Lane West Hospital Road Laburnum Rd Cargate Avenue Grosvenor Road Upper Elms Rd High St Cross St B3007 Elms Rd Middle Hill Wellington St Birchett Road Halimote Rd Church Lane East Avenue Station Road The Grove Victoria Road St George s Road ALDERSHOT St Michael s Road Church Hill Redan Road Ordnance Road Waterloo R oad Redan Road Newport Road Location Aldershot is a popular Hampshire commuter town best known as being the home of the British Army. The town is situated approximately 41 miles (66km) southwest of London, 8 miles (13km) south of Camberley and 11 miles (18km) west of Guildford. Aldershot benefits from excellent road communications being located at the junction of the A331 and the A31 which links the town to the M3 in the north and the M25 to the east. Rail communications are excellent with the town benefiting from regular services to London Waterloo with a fastest journey time of 47 minutes. London Heathrow Airport and London Gatwick Airport are located 21 miles (34km) to the north east and 26 miles (42km) to the east respectively.

4 LIDL, 5 Low Walk, Wellington Centre, Aldershot, GU11 1DB RETAILING IN ALDERSHOT Aldershot has a good retail offering for a town of its size providing approximately 720,000 sq ft of retail space with the prime pitch being centred on The Wellington Centre and the pedestrianised Union Street and Wellington Street. There is a 400+ space car park within the Wellington Centre which acts as the town centre s principal parking. The main bus station is also in close proximity on Station Road. Major retailers in the town include Boots, Peacocks, Argos, JD Sports, WH Smith, Superdrug, Vodafone, O2 Telephones, New Look and Clarks Shoes. Union Street and Wellington Street benefit from an open market every Thursday. Crown Copyright, ES For identification purposes only. SITUATION The property forms part of the Wellington Centre, the town s main shopping centre, with frontage and access onto Wellington Street. Neighbouring occupiers include Brighthouse, Poundworld, HSBC, Wilko and Sports Direct. WELLINGTON CENTRE LOWER GROUND DEMOGRAPHICS Aldershot has a primary catchment population of 115,000 (Source: PROMIS) with the population expected to grow by 0.7% across the next 5 years. The population within a 5 mile radius of the town is estimated to be circa 221,000 people. Aldershot comprises an affluent population with a significantly above average proportion of adults of working age categorized within the most affluent AB Social Group. The level of car ownership is also significantly above the national average with a particularly high proportion of 2 car households. ANYTIME FITNESS NAMASTE TRAVEL

5 LIDL, 5 Low Walk, Wellington Centre, Aldershot, GU11 1DB DESCRIPTION The property comprises a large, well configured foodstore arranged over ground floor only. The unit benefits from frontage on to the pedestrianised Wellington Street. The unit forms part of the lower ground element of The Wellington Shopping Centre. Lidl has designated trolley bays in the 400+ space multi-storey car park above the Centre. This is accessible via 3 x high speed passenger lifts. We understand the tenant intends to refurbish the store in the near future. The property provides a Gross Internal Area (GIA) of 1,285.8 sq m (13,841 sq ft). TENURE Leasehold. The property is held long leasehold from The Council of the Borough of Rushmoor for a term of 176 years from 1st September 1988 and expiring 31st August The yearly head rent is 10% of the net income as outlined in the headlease (copy available upon request) and the current head rent is 16, per annum. The headlease has an unexpired term of approximately 147 years. TENANCY The entire property is let to LIDL UK GMBH on a 25 year full repairing and insuring lease from 8th June 2010 expiring on 7th June 2035 (approximately years unexpired). The current gross rent is understood to be 167,466 per annum and the net rent is 150,719 per annum. The lease has fixed rent reviews every five years with the gross rents outlined below: 8 June 2020: 198,895 p.a. (Net - 179,005 p.a.) 8 June 2025: 236,217 p.a. (Net - 212,596 p.a.) 8 June 2030: 280,562 p.a. (Net - 252,506 p.a.) The tenant has an option to break at the end of either the fifteenth (June 2025) or twentieth (June 2030) year of the term. COVENANT INFORMATION Lidl originated in Germany with its first store opening in 1973 and has grown to become one of Europe s leading food retailers. The first Lidl UK opened in 1994 and currently has over 650 stores and 10 distribution centres across Great Britain employing over 20,000 people. Lidl was the UK s fastest grocery chain in the three months through to mid-september with sales increasing 19.2% and taking its market share to a new high of 5.3%. This growth is set to continue with Lidl s Chief Executive Christian Hartnagel recently outlying plans to open between 50 and 60 stores a year between now and LIDL UK GMBH has the following financial information: 29 Feb Feb Feb 2014 Sales Turnover 38,277,000,000 34,162,000,000 30,722,000,000 Profit Before Taxes 2,114,000,000 1,668,000,000 1,488,000,000 Tangible Net Worth 8,929,000,000 7,625,000,000 6,580,000,000

6 SERVICE CHARGE The unit contributes to a service charge for the Wellington Centre. There is a service charge cap for the unit. For 2017/18 this is budgeted at 33, During each subsequent service charge year the cap for the preceding year increases in line with RPI. The service charge budget for 2017/18 for Lidl is 23, Full information is available in the dataroom. DATAROOM For access to the Allsop Dataroom please use the following link: EPC The EPC is available upon request. VAT We understand the property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of Going Concern (TOGC). PROPOSAL Offers are sought in excess of 2,360,000 (Two Million Three Hundred and Sixty Thousand), subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 6.00% based on the net rent with a guaranteed reversionary net yield of 7.13% from June 2020 after allowing for purchaser s costs of 6.38%. For further information or to make arrangements for viewing please contact: PRIVATE CLIENT TEAM Jonathan Butcher jonathan.butcher@allsop.co.uk Alex Butler alex.butler@allsop.co.uk PRIVATECLIENT 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