PRIME FREEHOLD RETAIL INVESTMENT MOSS BROS 31 EASTGATE STREET & 25 EASTGATE ROW NORTH CHESTER, CH1 1LG

PRIME FREEHOLD RETAIL INVESTMENT MOSS BROS 31 EASTGATE STREET & 25 EASTGATE ROW NORTH CHESTER, CH1 1LG

INVESTMENT SUMMARY Chester is an affluent and historic Cathedral City with over 8 million visitors a year. Situated on the 100% prime pedestrianised thoroughfare of Eastgate Street. Let to Moss Bros Group Plc. until September 2021. Passing rent of 157,000 pa, reflecting 200 ZA. Historic Zone A rental levels reached 255 ZA. Freehold. Seeking offers in excess of 2,950,000, subject to contact and exclusive of VAT, reflecting a net initial yield of 5%, allowing for purchasers costs of 6.44%.

Morecambe Heysham Lancaster LOCATION The property is located within the historic Cathedral City of Chester, approximately 20 miles south of Liverpool and 35 miles southwest of Manchester. Chester benefits from excellent road communication, the city ring road provides access to junction 12 of the M53, connecting you to the M56 and the rest of the national motorway network. To the south of Chester, the A483 offers direct access to Wrexham. Chester mainline station offers an excellent rail service to London Euston (2 hours), Liverpool Lime Street (45 minutes) and Manchester Oxford Road (1 hour and 10 minutes). The city also benefits from both John Lennon Airport (24 miles) and Manchester International Airport (37 miles). Holyhead Bangor Llandudno Conwy Rhyl Prestatyn Fleetwood Blackpool Lytham St Anne's Flint Southport Formby Crosby Bootle LIVERPOOL Birkenhead M53 Ellesmere Port CHESTER Ormskirk Liverpool M6 M55 Preston Leyland M62 Widnes M56 M6 M58 Wigan Kirkby St Helens Runcorn Blackburn M65 Northwich Darwen Chorley M66 M61 Bury Bolton Warrington M62 M56 M6 Clitheroe Salford Sale Burnley Rawtenstall Rochdale M60 Manchester Wilmslow Knutsford Keighley M62 Oldham Stockport Macclesfield BRADFORD Halifax MANCHESTER Buxton Sandbach Wrexham Nantwich Crewe Newcastleunder-Lyme Kidsgrove Leek STOKE-ON-TRENT Oswestry Stone M6 Uttoxeter Stafford Newport Rugeley Shrewsbury Telford M54 Cannock

RETAILING IN CHESTER Chester is the county town and administrative centre for Cheshire. It has a resident population of more than 132,000 and a primary catchment of 800,000. Chester s historic and cultural significance attracts over 8 million visitors a year with annual tourist spend of in excess of 800 million. Chester s retail core is concentrated on Eastgate Street, Foregate Street and Northgate Street with the prime pitch being the pedestrianised thoroughfare of Eastgate Street where a large number of national multiple retailers are located. Chester is well known for its Row Level trading within these main streets, providing distinctive two level units known as The Rows. The city has two shopping centres, Grosvenor Shopping Centre and the Forum Shopping Centre which is due to be redeveloped as part of Chester Northgate. This will be a retail and leisure led development comprising a House of Fraser department store, multiplex cinema, shops, cafes, restaurants, hotel, new market hall and car park. Planning permission was a granted in July 2017 with work proposed to start in 2018.

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SITUATION The subject property is situated on the prime pedestrian thoroughfare of Eastgate Street, adjoining both NatWest Bank and Bella Italia. It sits in a prominent position opposite Browns of Chester department store (Debenhams), with nearby national retailers including Next, Hobbs, Jo Malone, Jack Wills, Cath Kidston, Fat Face and White Stuff.

DESCRIPTION The property is Grade II Listed comprising a retail unit on ground and first floors with a self-contained shop and ancillary accommodation on the attractive historic Row Level and above, laid out as follows: 31 Eastgate Street - A retail unit comprising ground and part first floor sales with ancillary storage and staff accommodation. The basement which was originally a sales area is currently closed with a hatched access. 25 Eastgate Row North - The entrance is off the covered walkway on Eastgate Row North, accessed from a set of stairs to the right of 31 Eastgate Street. There is a retail unit at Row level with three self contained upper floors comprising a workshop, a clinic and ancillary storage. ACCOMMODATION The property provides the following measured areas: Floor Use Area Metric Imperial 31 Eastgate Street Ground Shop 163.97 1,765 ITZA 57.52 619 Basement Unused 73.02 786 First Sales 68.19 734 Ancillary 43.76 471 25 Eastgate Row North Row Shop 17.47 188 Second Workshop 58.34 628 Third Clinic 55.00 592 Fourth Store 55.74 600 Total 535.49 5,764

TENURE Freehold. TENANCY The property is let in its entirety to Moss Bros Group Plc (Company No. 00134995) on full repairing and insuring terms expiring 28th September 2021. The current rent passing is 157,000 pa and the next rent review is on 30th June 2018. The tenant has sublet some of the upper parts. RENTAL VALUE The passing rent of 157,000 pa equates to 200 Zone A offering good prospects for future rental growth especially when compared to the historic levels of 255 Zone A achieved previously.

31 EASTGATE STREET & 25 EASTGATE ROW NORTH CHESTER CH1 1LG COVENANT Moss Bros Group Plc (Company Number 00134995) opened their first store in 1851 in the West End of London and now have over 80 stores across the UK. Moss Bros is a leading men s fashion retailer, offering retail, tailoring and hire services. DueDil Rating Very Low Risk 78/100 Summary 28 Jan 2017 (,000) 30 Jan 2016 (,000) 31 Jan 2015 (,000) Turnover 127,930 121,072 114,728 EBITDA 13,580 11,775 9,704 Post-tax Profit 5,523 4,605 3,485 Total Assets 63,013 56,485 58,487 Net Assets 37,499 37,337 37,454 EPC The property has an EPC rating of C 74. Further details are available on request. VAT The property is elected for VAT and it is proposed that the sale will be treated as a TOGC. RETAIL INVESTMENT MARKET There have been a number of recent retail investment sales in Chester which have generated strong investor competition. Set out below are details of those transactions nearby. Address Date Tenant Price Yield 10 Eastgate Street Mar 2017 Ernest Jones / Lakeland 26 Eastgate Street Aug 2016 Jo Malone / Mappin & Webb 2,750,000 4.75% 3,600,000 4.10% 29 Eastgate Street Jul 2015 Bella Italia 2,115,000 4.72%

PRICE We are to seek offers in excess of 2,950,000 subject to contract and exclusive of VAT, which reflects a net initial yield of 5% (assuming purchase costs of 6.44%). FURTHER INFORMATION For further information or to make arrangements for a viewing, please contact: Brook Stotesbury bs@hsmuk.com DDI: 020 7318 1938 Tim Morgan tjm@hsmuk.com DDI: 020 7318 1933 SUBJECT TO CONTRACT & EXCLUSIVE OF VAT DISCLAIMER - Messrs Hoddell Stotesbury Morgan Limited (9050701) trading as HSM, for themselves and for the vendors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, references to conditions and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchaser should not rely upon them a statement or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of HSM has any authority to make or give any representation or warranty whatever in relation to this property. (iv) unless otherwise stated all rents or prices quoted are exclusive of VAT which may be payable in addition. (v) HSM has not made any investigations or otherwise of any issues concerning pollution and potential land, building, air or water contamination. Prospective purchasers must undertake their own enquiries and satisfy themselves in this regard. Date: November 2017. Designed and produced by Creativeworld. T: 01282 858200.