89-90 LONDON ROAD BRIGHTON BN1 4JF RETAIL & RESIDENTIAL INVESTMENT OPPORTUNITY

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2 INVESTMENT CONSIDERATIONS Located in the popular city of Brighton 6 minute walk (0.3 miles) from Brighton Railway Station London Road is an up and coming vibrant area Comprises a ground floor retail unit with three upper floors of residential accommodation Totalling approximately 5,550 sq ft Retail unit let to The Martlets Trading co Limited with a guarantee from The Martlets Hospice Limited on a lease expiring in March 2025 Rent of 65,000 pa on the retail accommodation reflecting a low Zone A of 65 psf Total ERV for the residential accommodation is 62,400 pa Total rent passing of 112,400 pa, ERV of 127,400 pa Offers are sought in excess of 2,000,000 (Two Million Pounds) subject to contract and exclusive of VAT.

3 Dyke Rpad Chatham Place mins 0.3 miles LONDON ROAD London Road Ditchling Road LOCATION The city of Brighton and Hove is one of the major commercial, cultural and tourist centres in the South east located 76 km (47 miles) south of London, 37 km (23 miles) south of Gatwick Airport and 67 km (42 miles) east of Portsmouth. Brighton benefits from excellent transport links with the A27 providing access east and west and the A23 linking the town with the M23 in the north and in turn, the M25. The town is easily accessible by rail with a regular fast train service to both London Bridge and London Victoria, with a fastest journey time of 55 minutes. International air travel is provided by London Gatwick airport. M3 WOKING STAINES GUILDFORD WORTHING LITTLEHAMPTON KINGSTON UPON THAMES EPSOM M25 REIGATE GATWICK THREE BRIDGES CRAWLEY M23 LONDON CROYDON HAYWARDS HEATH BURGESS HILL HASSOCKS EAST GRINSTEAD LEWES NEWHAVEN M20 SEVENOAKS ROYAL TUNBRIDGE WELLS M Upper North Street Dyke Road Western Road CHURCHILL SQUARE THE GRAND CENTRE Queen s Sq Middle Street A2010 Termirus Road A2010 West Street A2010 Queen s Road Ship Street A259 King s Road Ship St Brighton THE LANES Prince Al b ert Str eet Black Lion St Fredrick Place Fredrick Street Portland Street Spring Gardens North Street North Rd Church Street Bond Street Trafalgar St East Street Pool Valley Sydney Street ROYAL PAVILLON Old Steine Marlborough Place Pavillon Parade Old Stei ne A23 A23 Glouce ster Place PIER A23 Grand Parade Kingswood Street Edward St B2118 St James St A259 Madeira Drive Edward St Marine Parade Carlton Hill

4 DEMOGRAPHICS The total population within the Brighton primary catchment area is 515,000 with an estimated shopping population of 329,000. Brighton also has a sizeable student population, estimated at around 30,000 bringing additional spend to the catchment area during term time. The age profile of the Brighton primary catchment population includes a particularly high proportion of young adults aged 15-24; adults aged are also over represented. In 2011, the Brighton area contained a significantly above average proportion of adults of working age within the most affluent AB social group. Spending in Brighton is boosted by leisure and business tourism and ranks within the top ten towns for staying visits in Britain according to VisitBritain.org, with 457,000 such visits in According to Brighton & Hove City Council, some 8.5 million tourists visit the city each year. SITUATION The property is situated on London Road in a mixed retail and residential area. Brighton Railway Station is approximately a 6 minute walk south west of the property. Nearby occupiers include Natwest, Boots Opticians, Superdrug, British Heart Foundation, Scope, Poundland, Dominos along with a wide range of local independent occupiers. Crown Copyright, ES For identification purposes only.

5 REGENERATION London Road has become the focus of a number of strategies and projects aimed at improving its environment. The London Road Masterplan sets out the vision to make London Road attractive for business investment and a popular destination for customers to spend their time and as a result increase retail spend. Recent regeneration projects include the Open Market and site J of the New England Quarter. The Open Market site features a covered market with 45 independent retail units and 12 artists studios at first floor level supporting the wider regeneration of the London Road shopping area. Site J of the New England Quarter (NEQ) is a large mixed use development adjacent to the railway station in the centre of Brighton. Site J comprises 147 residential units, a 98 bedroom hotel, office and retail floor space. The pedestrian route links the rear entrance to the station with London Road. Another major regeneration project on London Road is Abacus House. This is a 350 bed student scheme situated at 94 London Road. It provides a high quality hall of residence for several academic institutions including Sussex University and Brighton Film School. Furthermore the area benefits from the Mary Portas initiative which was established to promote London Road as a part of Brighton that is rapidly improving. DESCRIPTION The property comprises a ground floor retail unit and 2 upper floors of newly converted residential accommodation and a newly built top floor penthouse. The retail unit benefits from a large frontage onto London Road, internally the unit comprises a retail shop with ancillary accommodation to the rear. The residential accommodation has its own entrance from London Road and comprises 4 x 2 bedroom apartments. The apartments have been finished to a high specification with the penthouse and the duplex benefitting from substantial roof terraces. TENANCY SCHEDULE Unit Tenant Floor NIA (sq ft) Ground The Martlets Trading Co Limited Start Date Review Date Expiry Date Passing Rent pa Ground 3,040 13/03/ /03/ /03/ ,000 65,000 ERV pa ITZA 1,000 ( 65 Zone A) Flat 1 Vacant ,000 Flat 2 Private /01/ /01/ ,200 16,200 Flat 3 Private /01/ /01/ ,000 15,000 Flat 4 Private /02/ /08/ ,200 16,200 Total 5, , ,400

6 COVENANT Martlets is a registered charity caring for people living through terminal illness in and around Brighton and Hove. Across the hospice services, over 25,000 local people have been cared for and/ or supported since The Martlets Trading Co Ltd ( ) 31/03/ /03/ /03/2014 Turnover (000 s) 1,744,414 1,560,576 - Pre-Tax Profit (000 s) - 10,966-2,145 - Total Net Worth (000 s) 4,006 12,811 14,527 For the year ended 31 March 2016, retail operations have contributed 1.7m to income, an increase on 184,000 on the previous year. One major contribution to the increase has been the opening of the London Road store. Guarantor - The Martlets Hospice Limited ( ) 31/03/ /03/ /03/2014 Turnover (000 s) Pre-Tax Profit (000 s) 1,625, ,425 2,464,595 Total Net Worth (000 s) 9,216,990 7,591,008 6,825,583 TENURE Freehold. The freehold is held in one company and a long lease of 999 years for the residential is held in a separate vehicle. EPC s Ground Floor - D81 Flat 1 C81 Flat 2 C77 Flat 3 C83 Flat 4 C81 VAT The property is elected for VAT however we would anticipate the transaction will be treated as a Transfer of a Going Concern (TOGC). PROPOSAL Offers are sought in excess of 2,000,000 (Two Million Pounds) subject to contract and exclusive of VAT. For further information or to make arrangements for viewing please contact: Lottie Hayward lottie.hayward@allsop.co.uk Andy Pointon andy.pointon@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