51-59 KIRKGATE & 7-19 QUEENSGATE BRADFORD. prime, high yielding, freehold, retail investment opportunity

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1 51-59 KIRKGATE & 7-19 QUEENSGATE BRADFORD prime, high yielding, freehold, retail investment opportunity

2 Investment Considerations A prime location on Kirkgate Opposite Kirkgate Shopping Centre and within close proximity to Primark, McDonalds and Santander Secured to reputable covenants to Poundworld Retail Ltd, JD Sports Fashion Plc and Thomas Cook Retail Ltd Current Gross Income of 366,000 pax Modern well configured building comprising 24,438 sq ft (2,270 sq m) Freehold Offers in excess of 2,160,000 (Subject to Contract and Exclusive of VAT) which reflects a Net Initial Yield of 16% Location Bradford is a strategically located commercial centre in West Yorkshire, approximately 11 miles (17km) west of Leeds, 12 miles (19km) north of Huddersfield and 39 miles (62km)east of Manchester. The City is 200 miles (320km) north of Central London. Bradford has excellent access to the national motorway network, with the M606 linking the City Centre with Junction 26 of the M62 motorway, which in turn provides access to the A1, M1 and M6. Bradford benefits from regular rail services to Manchester, Leeds and York, with a direct service to London Kings Cross, with an approximate journey time of 2 hours and 30 mins. Leeds Bradford International Airport is located approximately 9 miles to the north east of the city, and offers regular domestic and international flights. Demographics Bradford s primary catchment area population is 407,000, in line with the sub-regional centre average, ranking the city 55th out of the PROMIS centres. The estimated shopping population of Bradford is 184,000, ranking the city 71st of the PROMIS centres. The population is expected to see significantly above average growth over the period (Source: PMA). Bradford ranks 61st in terms of the volume of comparison retail spend available for the catchment. In 2010 the service sector accounted for 71% of total employment in Bradford, slightly below the Retail PROMIS Average. There are a number of major employers in the area, including Bradford City Council, University of Bradford and the Bradford Teaching Hospital Foundation Trust. In addition, Yorkshire Building Society, Morrisons Supermarket and Provident Financial all have their headquarters in Bradford. Retailing in Bradford The current retail floorspace is estimated at 1.48 million sq ft, above the sub-regional average and ranking the City 35th of the PROMIS centres on this measure. The prime retailing in Bradford is currently focused on Darley Street, Kirkgate, Bank Street, Ivygate, Market Street, Hustlergate and Broadway, all of which are pedestrianised. Bradford

3 Retailers in these key locations include Marks & Spencer, Topshop, Burtons, Superdrug, Waterstones, Brighthouse, JD Sports and Primark. The prime retail thoroughfare is situated on the pedestrianised section of Darley Street from Kirkgate to Marks & Spencer, which then extends into Darley Row in the Kirkgate Centre. The Crownway Investments owned Kirkgate Shopping Centre comprises approximately 380,000 sq ft of retailing on three levels, with tenants including Primark, Boots, WH Smith, River Island and Poundland who all have representation. Planning Consent was granted in 2012 for a new shopping centre,, which will total 570,000 sq ft and comprises over 70 shops, restaurants and cafes and 1,300 car parking spaces. This has been forward purchased by Westfield and Meyer Bergman. Debenhams, Marks & Spencer and Next are all pre-let for the scheme. Construction is well underway on site, with an estimated opening time of Autumn Situation The subject premises are located towards the western end of Kirkgate, between Queensgate and Albion Court. Nearby occupiers include Primark, Halifax, McDonalds, Footlocker and Holland & Barrett. The Property The property comprises 3 separate retail units arranged over ground and first floors fronting Kirkgate. The properties are serviced via the front of the building. The holding also includes a leisure premises fronting Queensgate, arranged over ground and lower ground floors Queensgate

4 51-59 kirkgate & 7-19 queensgate, BRADFORD BD1 1PZ VA C AN VA C AN ms Ge T T print

5 Accomodation & Tenancies Unit Area Analysis (sq ft) Next O/S Description Tenant Name GFS ITZA 1st Rent Start Date Expiry Date Review Unit 1 Poundworld Retail Ltd 4,115 1,083 2, ,500 29/09/ /09/ Comments Unit 2 JD Sports Fashion Plc 3,859 1,084 2, ,000 29/09/ /09/ Unit 3 Thomas Cook Retail Ltd (Sublet to IRG Bradford Ltd) ,000 29/09/ /09/ Queensgate Laterthought Limited 5,676 3,707 18,500 04/12/ /12/ G&P have not measured this unit. Areas provided by the vendor. Fixed Uplifts as follows: 24/04/2016= 20,000 pax, 24/04/2017= 25,000 pax, 24/04/ /12/2024 = 30,000 pax. Rent deposit of 6,000. Total 24,438 Gross Current Rent 366,000 Covenant Strength Tenant D&B Rating Financial Year End Turnover Profit (Loss) Net Worth Poundworld Retail Ltd 3A 1 31/03/ ,259,000 5,002,000 11,498,000 JD Sports Fashion Plc 5A 1 01/02/2014 1,330,578,000 57,850, ,436,000 Thomas Cook Retail Ltd 5A 1 30/09/ ,578,000 ( 32,322,000) 75,341,000 Proposal We have been instructed to seek offers in excess of 2,160,000 (Two Million, One Hundred and Sixty Thousand Pounds), Subject to Contract & exclusive of VAT, which reflects a net initial yield of 16%, allowing for purchaser s costs of 5.8%. Tenure Freehold. Current Income pax 366,000 pax Further Information For further information or to arrange an inspection, please contact: Service Charge There is a service charge in operation. Further information is available upon request. EPC EPCs are available upon request. VAT The property has been elected for VAT and any disposal will be by way of a Transfer of a Going Concern (TOGC). Ed Smith ed.smith@greenpartners.co.uk David Freeman david.freeman@greenpartners.co.uk Patrick Over patrick.over@greenpartners.co.uk James Baillie james.baillie@greenpartners.co.uk MISREPRESENTATION These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchaser should satisfy himself and as to the correctness of these details. Neither the agents nor the vendors or lessors are to be or become under any liability or claim in respect of these particulars. These particulars are supplied on the understanding that all negotiations are conducted through this office. June Adrian Gates Photography & Design