DFS SWANSEA NEATH ROAD, MORRISTON, SA6 8ER LONG INCOME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY

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1 DFS SWANSEA NEATH ROAD, MORRISTON, SA6 8ER

2 INVESTMENT CONSIDERATIONS n Freehold n Prominently located close to Junction 45 of the n Purpose built unit comprising 22,803 sq ft n Let to the D&B rated 5A1 covenant of DFS Trading Limited n Current rent of 561,249 per annum n Unexpired lease term of over 12.9 years n The only DFS Store serving West Wales with the nearest store being located in Cardiff n Offers sought in excess of 5,850,000 (Five Million Eight Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 9.00%, after allowing for purchaser s costs of 6.63%.

3 DFS SWANSEA Swansea Marina LOCATION LLANSAMLET 067 Llanbody A4 Manselton Cwmbwria A4 8 A Bon-y-maen Tenby A470 Merthyr Tydfil Ferryside Llanelli Gorseinon A449 A465 SWANSEA 20 mins Llangenneth The Mumbles 30 mins 40 mins 1 hour Pontypridd A470 Caerphilly Port Talbot A48 SWANSEA 18 A41 67 CARDIFF St Thomas A4232 Penarth Port Tennant A483 Abergavenny A465 Neath 3 SWANSEA A483 A48 A477 Pembroke Dock A465 al Park Brecon Beacons Nation Camathen B Liberty Stadium A479 Winch Wen NANTONGWAY Plasmarl A438 Brecon St Davids B4603 Swansea railway station provides regular and direct services to Cardiff, Newport and Bristol with fastest journey times of 52 minutes, 75 minutes and 95 minutes respectively. The railway station provides regular direct services to London Paddington with a fastest journey time of approximately 3 hours 5 minutes. A483 Morriston Penlan A470 Pembrokeshire Coast National Park Clase B44 89 Swansea has good road and rail communications with the motorway passing 4 miles (6.5km) to the north, providing access to Cardiff, Bristol and London to the east and Llanelli to the west. A487 A48 The city of Swansea is the second largest city in Wales and is located on the northern shores of the Bristol Channel. Swansea is located approximately 66km (41 miles) north west of Cardiff, 103 km (64 miles) west of Newport and 129 km (80 miles) west across the River Severn from Bristol. A438 Cardigan Jct. 47 Cardiff A48(M) P M Barry Weston-super-Mare

4 DFS SWANSEA DFS NEATH R OAD, MORR ISTON, SWANSEA, SA6 8ER SITUATION ACCOMMODATION P layground m The property is prominently situated on the western side of Neath Road (67), approximately 0.6 miles south of the (junction 45) and approximately 5.5 miles north of Swansea city centre. The 67 is the principle access from Swansea City Centre to the Motorway and the store s location less than one mile from the provides the store with excellent access to the wider region. CATCHMENT AND DEMOGRAPHICS The primary retail catchment area for Swansea is 553,000 with an estimated shopping population of 273,000 (PROMIS). There were 4.56 million visitors to Swansea in 2015 (Source: Swansea City Council), with an estimated expenditure of around 400 million. It is estimated that around 5,700 jobs are supported by tourism in Swansea. Description Sq M Sq Ft Retail Unit 2, ,803 DESCRIPTION The property comprises a modern style detached retail warehouse of portal frame construction. Internally the property has been fitted out as a furniture showroom with suspended ceilings, lined walls and predominantly carpet tile floor coverings to public areas. The retail store has three loading bays to the rear of the warehouse and includes approximately 87 car parking spaces and a service yard for deliveries. The property has a site area of approximately 0.73 acres (0.3 hectares). 22 Salem Gospel Hall A 4067 Ivy Cottages Crown Copyright, ES For identification purposes only. 1 45

5 DFS SWANSEA TENANCY COVENANT PLANNING The property is let to DFS Trading Limited for a term of 25 years from 24 March 2005 to and including 23 March The rent is 561,249 per annum, reflecting per sq ft. There are further open market reviews on 24th March 2020 and five yearly thereafter. Since opening its first store in 1969, DFS has grown to 105 stores in the UK, Republic of Ireland and the Netherlands. DFS Trading Limited (Company Number: ) is a wholly owned subsidiary of DFS Furniture Company Ltd which itself is a wholly owned subsidiary of DFS Furniture plc. DFS Furniture plc announced for the 26 weeks ended 28 January 2017 the following results: group revenue increased 6.8% to 379.9m, EBITDA increased 4.5% to 32.4m and profit before tax increased by 3.1% to 16.7m. DFS Trading Limited - Dun & Bradstreet 5A1 01 August 2015 ( 000 s) 02 August 2014 ( 000 s) 27 July 2013 ( 000 s) Turnover 729, , ,800 Pre-Tax Profit 65,700 64,200 70,600 Total Net Worth 45,300 66,000 49,100 The unit has planning permission for the sale of bulky goods. TENURE Freehold.

6 EPC Available upon request. VAT The property is elected for VAT, it is assumed the transaction will be treated as a Transfer of a Going Concern (TOGC). PRICING We are instructed to seek offers in excess of 5,850,000 (Five Million Eight Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 9.00%, after allowing for purchaser s costs of 6.63%. FOR FURTHER INFORMATION PLEASE CONTACT: Dale Johnstone dale.johnstone@allsop.co.uk Lottie Hayward lottie.hayward@allsop.co.uk Paddy Hales PHales@savills.com Marcus De Minckwitz MDeMinckwitz@savills.com Misrepresentation Act: 1. Allsop LLP and Savills on its own behalf and on behalf of the instructing party of this portfolio whose agent Allsop and Savills 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 instructing party does not make or give, and neither Allsop or Savills nor any of their 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 instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party 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: Command D