CARDIFF LIFESTYLE SHOPPING PARK CARDIFF CF14 5DY PRIME OUT OF TOWN RETAIL INVESTMENT OPPORTUNITY

CARDIFF LIFESTYLE SHOPPING PARK CARDIFF CF14 5DY PRIME OUT OF TOWN RETAIL INVESTMENT OPPORTUNITY

Ivestmet Locatio & Situatio Catchmet & Provisio Descriptio Site, Teure & Plaig Teacy Teats Coveats Occupatioal Activity Further Iformatio INVESTMENT SUMMARY Situated i a affluet area of Cardiff, approximately 4 miles orth of the city cetre, the property domiates its large catchmet. 51% of the populatio livig withi 10 miutes of the scheme are Affluet Achievers. Excellet road commuicatios, lyig close to the motorway. Comprises a 70,280 sq ft (GIA) purpose built shoppig park, arraged across 10 uits. Ope A1 plaig coset (with some restrictios). Fully let to M&S Foodhall, Boots, Laura Ashley, Pets at Home, HomeSese, DW Sports, Moutai Warehouse, Starbucks, Carphoe Warehouse ad Specsavers. Attractive WAULT of approximately 10.2 years (8.6 years to breaks). Curret icome of 1,589,646 per aum. Rets betwee 19.66 ad 40.53 per sq ft. 100% of the icome is secured agaist coveats. Retal values have bee established from recet lease reewals ad ret reviews. Boots recetly reewed o a 10 year lease ad terms are agreed with HomeSese for a reversioary lease. Terms agreed with Pets at Home ad HomeSese to remove their teat oly break optios. We are istructed to seek offers i excess of 25,895,000 (Twety Five Millio, Eight Hudred ad Niety Five Thousad Pouds), subject to cotract ad exclusive of VAT. This reflects a attractive et iitial yield of 5.75% (assumig purchaser s costs at 6.76%).

Ivestmet Locatio & Situatio Catchmet & Provisio Descriptio Site, Teure & Plaig Teacy Teats Coveats Occupatioal Activity Further Iformatio LOCATION CARDIFF CITY CENTRE Cardiff is the capital city of Wales ad provides the pricipal retailig ad commercial cetre for the South Wales regio. The city is located immediately to the south of the motorway, approximately 44 miles west of Bristol ad 42 miles east of Swasea. Cardiff is well served by a major road etwork, lyig adjacet to the motorway, with access to the orth east of the city via the (M), which leads directly to Juctio 29, ad via the to the west of the city providig access to Juctio 32. The motorway itersects with the M5 motorway orth of Bristol, providig fast access to the Midlads ad the South West of Eglad. Ramp World Cardiff PARC TY GLAS TY GLAS RAILWAY STATION PARC TY GLAS BIRCHGROVE RAILWAY STATION A469 CAERPHILLY ROAD Cardiff beefits from excellet trasport liks, with regular trai services to a umber of destiatios icludig Lodo Paddigto (2 hours, 5 miutes), Swasea (50 miutes), Birmigham (2 hours) ad Machester (3 hours, 10 miutes). TY GLAS AVENUE TY GLAS AVENUE Crewe Wrexham Shrewsbury M6 Derby Nottigham M1 Cardiff Busiess Park Go Air Trampolie Park Jump Cardiff Llaishe Leisure Cetre CARDIFF LIFESTYLE SHOPPING PARK HMRC Llaishe Aberystwyth Swasea Neath CARDIFF Tauto M5 Hereford Newport M54 Wolverhampto Birmigham Kiddermister Bristol Bath Yeovil M6 Covetry 0 M50 Chelteham Gloucester Oxford M5 Swido Newbury M27 M3 SITUATION Cardiff Lifestyle Shoppig Park is located approximately 4 miles orth of Cardiff city cetre accessed via the A469 (Caerphilly Road) ad the B4562 (Ty-Glas Road). The shoppig park is situated i a promiet positio overlookig Ty-Glas Aveue, with a sigalled cotrolled juctio providig access ad egress.

Ivestmet Locatio & Situatio Catchmet & Provisio Descriptio Site, Teure & Plaig Teacy Teats Coveats Occupatioal Activity Further Iformatio CATCHMENT & DEMOGRAPHICS The subject property beefits from a large catchmet populatio, with circa 107,000 people withi a 10 miute drive time, risig to approximately 746,000 people withi a 30 miute drive time (CACI). Withi the 10 miute drive time catchmet, 51% of households are categorised withi the highest Acor Category Affluet Achievers, sigificatly above the CACI base average the average of 22.7%. Withi this, 26% of the populatio are classified as Executive Wealth, 110% above the average, icludig: Prosperous suburba families - 608% above the average Fiacially comfortable families - 151% above the average Asset rich families - 93% above the average Well-off edge of towers - 54% above the average ad Affluet professioals - 42% above the average The statistics also idetify a icreasigly affluet youger adult populatio, with 7.4% of the catchmet classified as Career Climbers (20% above the average) withi the secod highest Acor Group, Risig Prosperity. Similarly, 7.2% are defied as Startig Out (77% above the average) withi the Comfortable Commuities Acor Group. The average aual salary i the 10 miute drive time catchmet is 41,501, 13.9% above the average. Social Grade Descriptio Compariso to Base (GB) Average AB Higher ad itermediate maagerial / professioal +49% C1 Supervisory / professioal +16% C2 Skilled maual workers -28% DE Semi-skilled / uskilled workers -38% CACI provide that 77% of the households withi the 10 miute drive time catchmet are owed by the occupat, 20% above the average. Coversely, just 9% of the catchmet live i social reted homes, 51% below the average. Car owership is 14% higher tha the average. This iformatio describes a affluet car-bore populatio. The level of uemploymet for people aged betwee 16 ad 74 stads at 1.6%, sigificatly less tha the CACI base average of 2.0%. HOUSEHOLD INCOME PROFILE 40K - 60K CATCHMENT = 19.2% AVERAGE = 17.5% 10% ABOVE AVERAGE 60K - 80K CATCHMENT = 10.1% AVERAGE = 8.2% 23% ABOVE AVERAGE Natgarw A470 Gwaelod-y-garth Togwylais Morgastow SUBJECT PROPERTY Llaishe Potpreau Bega Michaelsto-y-Fedw St Mellos (M) Llarumey 80K - 100K CATCHMENT = 5.8% AVERAGE = 4.2% 100K+ CATCHMENT = 6.0% AVERAGE = 4.0% A470 Llaedeyr Rumey Very High - 60k+ 38% ABOVE AVERAGE 50% ABOVE AVERAGE St George s St Fagas CARDIFF High - 45k to 60k Medium - 30k to 45k 10 miute drive time

Ivestmet Locatio & Situatio Catchmet & Provisio Descriptio Site, Teure & Plaig Teacy Teats Coveats Occupatioal Activity Further Iformatio RETAIL WAREHOUSE PROVISION IN CARDIFF There is a otable lack of competig schemes aroud Cardiff Lifestyle Shoppig Park which, has eabled the scheme to domiate its large ad affluet catchmet. The majority of the city s retail warehouse supply is situated further to the south ad east. A overview of the mai retail warehousig schemes i Cardiff is provided below: 1 CARDIFF LIFESTYLE SHOPPING PARK 2 CAPITAL SHOPPING PARK A470 33 A4054 A469 A470 1 A469 Thorhill Potpreau Cycoed Petwy A4232 Llarumey 8 St Mellos 8 70,280 sq ft. M&S Foodhall, Laura Ashley, Homesese, Boots, DW Sports, Pets at Home, Moutai Warehouse, Starbucks, Carphoe Warehouse ad Specsavers. Ope A1 (with some restrictios). 3 CARDIFF BAY RETAIL PARK 194,425 sq ft. Sports Direct, Pets at Home, Boots, Argos, Bratao, Costa, B&M ad Staples. Mixed plaig coset. 6.5 miles south of the subject property. 370,000 sq ft. ASDA, Costco, Marks & Specer, Outfit, Hobbycraft, Next, Smyths Toys, Mamas & Papas ad DW Sports. Ope A1 plaig coset. 5.5 miles south of the subject property. 4 NEWPORT ROAD 500,000+ sq ft. M&S, Home Bargais, Duelm, Mothercare, Argos, Mapli, B&M, Carpetright, Sofology, Pets at Home, Currys PC World, Halfords, The Rage etc. Mixed plaig coset. 4 miles south east of the subject property. A4232 9 A4119 St Faga s A4050 Whitchurch Lladale North CARDIFF 7 A470 Lladaff Fairwater Blackweir A4119 Cato A4232 2 A4160 Gragetow 3 Lladough A4232 Lladeyr Rumey Peyla A4232 5 A4161 Roath Tremorfa 4 6 5 SEAGER RETAIL PARK 6 AVENUE RETAIL PARK 7 WESTERN AVENUE RETAIL PARK 8 CARDIFF GATE RETAIL PARK 9 CULVERHOUSE CROSS 33,500 sq ft. Sofology ad Pets at Home. Bulky goods plaig coset. 4 miles south east of the subject property. 117,000 sq ft. Homebase, Matala, Home Bargais ad M&S Foodhall. Ope A1 part food with restrictios. 4 miles south east of the subject property. 81,898 sq ft. Wickes, Staples ad Bigo 3000. Bulky goods plaig coset. 3 miles south of the subject property. 148,882 sq ft. B&Q, Harveys, DFS ad ScS. Mixed plaig coset. 3.6 miles east of the subject property. 450,000 sq ft. Vale Gate Park, Brookfields Park ad stadaloe uits. Marks & Specer, Tesco Extra, B&Q, TK Maxx, Carpetright, Mothercare ad Currys PC World. Mixed plaig coset. 7 miles south west of the subject property.

Ivestmet Locatio & Situatio Catchmet & Provisio Descriptio Site, Teure & Plaig Teacy Teats Coveats Occupatioal Activity Further Iformatio DESCRIPTION The subject property comprises a moder purpose built shoppig park, costructed i 2004, origially totallig 67,574 sq ft GIA arraged across 8 uits. Two additioal uits have recetly bee developed, icreasig the park s size to 70,280 sq ft. The park is cofigured as a traditioal L shaped terrace, with the majority of the uits ragig from 6,000 to 15,000 sq ft. The park is fully let to M&S Foodhall, Boots, Laura Ashley, Pets at Home, HomeSese, DW Sports, Moutai Warehouse, Starbucks, Carphoe Warehouse ad Specsavers. The uits are of steel portal frame costructio fiished to a high specificatio icorporatig glazed frotages, glazed caopies ad promiet sigage towers to each uit. uits ad provides circa 284 parkig spaces, givig a ratio of 1 : 247 sq ft GIA. Iterally, all uits are fitted out to the idividual teats specificatios. The service yard is situated to the rear of the property. A oe way system is i operatio for the yard, with delivery vehicles eterig from the east of the site ad exitig to the west. EPC s Copies of the EPC s are available upo request. Customer parkig is accessed to the west of the site from Parc Ty-Glas Road, via a traffic light cotrolled juctio o Ty-Glas Aveue. The customer parkig is situated to the frot of all

Ivestmet Locatio & Situatio Catchmet & Provisio Descriptio Site, Teure & Plaig Teacy Teats Coveats Occupatioal Activity Further Iformatio SITE Ty Glas Aveue The site exteds to approximately 5.29 acres, givig a site cover of 30.5%. TENURE The site delieated i red is held freehold. This is provided for idicative purposes oly. PLANNING Parc Ty Glas Parc Ty Glas The scheme beefits from a ope A1 plaig coset (with some restrictios). A detailed plaig summary ca be provided upo request. Service Road

Ivestmet Locatio & Situatio Catchmet & Provisio Descriptio Site, Teure & Plaig Teacy Teats Coveats Occupatioal Activity Further Iformatio TENANCY The scheme is fully let with a average weighted uexpired lease term of 10.2 years (8.6 years to break). Uit Teat Tradig As GIA (sq ft) Lease Start Lease Expiry Next Ret Review Curret Ret (pa) Ret (per sq ft) Commets 1a 1b The Carphoe Warehouse Ltd Specsavers Optical Superstores Ltd Carphoe Warehouse 1,249 29/08/2016 28/08/2026 29/08/2021 40,593 32.50 TBO 28/08/2021. Break pealty of 20,297. Ret commecemet: 26/02/2017. Specsavers 1,457 26/08/2016 25/08/2026 26/08/2021 59,053 40.53 Ret commecemet: 26/10/2016. 1 Marks & Specer plc M&S Foodhall 15,458 29/09/2003 28/09/2028 29/09/2018 305,000 19.73 2 Boots UK Ltd Boots 10,377 12/04/2016 11/04/2026 11/04/2021 204,000 19.66 Lease extesio completed i 2016. 3a Moutai Warehouse Ltd Moutai Warehouse 4,148 19/12/2013 18/12/2023 19/12/2018 103,700 25.00 3b Laura Ashley Ltd Laura Ashley 6,266 29/09/2006 28/09/2021 29/09/2016 147,000 23.46 TBO 29/09/2017. 4 Starbucks Coffee Compay UK Ltd Starbucks 2,083 24/06/2007 23/06/2024 24/06/2017 66,300 31.83 Fixed retal uplift to 73,200 pa o 24/06/2017. Reversioary lease from 24/06/2022 to 23/06/2024. 4b Pets at Home Ltd Pets at Home 6,278 05/10/2009 04/10/2024 05/10/2019 140,000 22.30 5 Dave Whela Sports Ltd DW Gym Group & Sports Store 12,503 25/03/2008 24/03/2033 25/03/2018 317,000 25.35 6 TJX UK Ltd HomeSese 10,461 25/03/2008 24/03/2023 25/03/2018 207,000 19.79 TBO 04/10/2019. Terms have bee agreed for the removal of the break clause i exchage for 6 moths ret free. TBO 25/03/2018. Terms agreed for the removal of the break clause ad to eter a 3 year reversioary lease. Total 70,280 1,589,646 22.62

Ivestmet Locatio & Situatio Catchmet & Provisio Descriptio Site, Teure & Plaig Teacy Teats Coveats Occupatioal Activity Further Iformatio TENANTS COVENANTS 100% of the icome secured agaist stregth coveats, as rated by Du & Bradstreet. We set out below the most recet compay accouts for each teat: Teat % Icome Year Edig Sales Turover ( 000 s) Profit / Loss Pre Taxes ( 000 s) Net Worth ( 000 s) D&B Ratig Specsavers Optical Superstores Ltd 4% 28/02/2015 28/02/2014 433,826 392,606 20,398 18,533 54,568 73,847 The Carphoe Warehouse Ltd 3% 02/05/2015 29/03/2014 2,056,123 1,783,596 68,371 86,216 1,007,570 955,777 Marks & Specer plc 19% 28/03/2015 29/03/2014 10,311,400 10,309,700 600,000 580,400 4,791,600 4,384,000 Boots UK Ltd 13% 31/08/2015 31/03/2014 9,198,000 6,340,000 542,000 507,000 367,000 456,000 Moutai Warehouse Ltd 6% 28/02/2016 28/02/2015 141,403 109,894 16,246 11,961 49,311 37,192 Laura Ashley Ltd 9% 31/01/2015 25/01/2014 295,764 287,758 22,364 19,144 109,562 104,792 Starbucks Coffee Compay UK Ltd 4% 27/09/2015 28/09/2014 405,641 408,721 34,216 1,056 57,705 35,513 Pets at Home Ltd 9% 26/03/2015 27/03/2014 689,697 633,429 79,920 83,858 517,138 462,445 Dave Whela Sports Ltd 20% 29/03/2015 30/03/2014 154,383 150,399 8,243 4,062 71,327 64,356 TJX UK Ltd 13% 31/01/2015 01/02/2014 2,195,400 1,995,000 129,200 91,000 583,400 501,700

Ivestmet Locatio & Situatio Catchmet & Provisio Descriptio Site, Teure & Plaig Teacy Teats Coveats Occupatioal Activity Further Iformatio OCCUPATIONAL ACTIVITY The scheme is fully let ad the teats report strog levels of trade. The park has a attractive weighted uexpired lease term of 10.2 years, 8.6 years icludig break optios, but this will icrease to above 10 years oce the Pets at Home ad HomeSese Deed of Variatio s are fialised. Strog teat demad is prove by the recet occupatioal activity at the scheme. A overview is provided below: I August 2016, Specsavers took a 10 year lease o a 1,457 sq ft uit at a ret of 59,053 per aum, equatig to 40.53 per sq ft. The teat received a 2 moth ret free period. I August 2016, Carphoe Warehouse took a 10 year lease o a 1,249 sq ft uit at a ret of 40,593 per aum, equatig to 32.50 per sq ft. The teat received a capital cotributio equivalet to 12 moths ret ad a 6 moth ret free period. There is a teat break optio at the ed of the fifth year, which is subject to a pealty equivalet to 6 moths ret. I April 2016, Boots fialised a lease reewal for a further 10 years at the previous passig ret of 204,000 per aum, which equates to 19.66 per sq ft. The teat received a 3 moth ret free period. Terms have bee agreed with HomeSese for a Deed of Variatio ad reversioary lease. The agreemet will see the removal of the teat oly break optio dated 25 March 2018 ad the lease exteded by a further 3 years to expire o 24 March 2026. The teat will receive a capital paymet of 207,000 (the equivalet of 12 moths ret) as a cotributio towards the cost of refittig the store. Terms have bee agreed with Pets at Home for a Deed of Variatio to remove the teat oly break optio dated 4 October 2019. The teat will receive 6 moths ret free upo completio of the Deed. Laura Ashley have also expressed iterest i removig their teat oly break optio. The Pets at Home ret review, dated 4 October 2014, was recetly settled ad a sigificat retal uplift was achieved. The passig ret icreased to 140,000 per aum ( 22.30 per sq ft) from 125,620 per aum ( 20.00 per sq ft). I December 2013, Moutai Warehouse took a ew 10 year lease o 4,148 sq ft at a ret of 103,700 per aum, equatig to 25.00 per sq ft. The teat received a 12 moth ret free period. The ew lease replaced the retailer s previous lease, which had a teat break optio i 2015.

Ivestmet Locatio & Situatio Catchmet & Provisio Descriptio Site, Teure & Plaig Teacy Teats Coveats Occupatioal Activity Further Iformatio VAT The property has bee elected for VAT, however, it is aticipated that the trasactio will be treated as a Trasfer of Goig Cocer (TOGC). PROPOSAL We are istructed to seek offers i excess of 25,895,000 (Twety Five Millio, Eight Hudred ad Niety Five Thousad Pouds), subject to cotract ad exclusive of VAT. This reflects a attractive et iitial yield of 5.75% (assumig purchaser s costs at 6.76%). FURTHER INFORMATION Miles Marte T: 020 7317 3777 M: 07770 748290 E: m.marte@wilkisowilliams.co.uk Jack Lloyd T: 020 7317 3796 M: 07747 883231 E: j.lloyd@wilkisowilliams.co.uk Wilkiso Williams Heathcoat House 20 Savile Row Lodo W1S 3PR wilkisowilliams.co.uk MISREPRESENTATION NOTICE. Wilkiso Williams LLP give otice to ayoe who may read these particulars as follows: 1. These particulars are prepared for the guidace oly of prospective purchasers. They are iteded to give a fair overall descriptio of the property but are ot iteded to costitute part of a offer or cotract. 2. Ay iformatio cotaied herei (whether i the text, plas or photographs) is give i good faith but should ot be relied upo as beig a statemet of represetatio or fact. 3. Nothig i these particulars shall be deemed to be a statemet that the property is i good coditio or otherwise or that ay services or facilities are i good workig order. 4. The photographs appearig i this brochure show oly certai parts of the property at the time whe the photographs were take. Certai aspects may have chaged sice the photographs were take ad it should ot be assumed that the property remais precisely as displayed i the photographs. Furthermore, o assumptios should be made i respect of parts of the property which are ot show i the photographs. 5. Ay areas, measuremets or distaces referred to herei are approximate oly. 6. Where there is referece i the particulars to the fact that alteratios have bee carried out or that a particular use is made of ay part of the property, this is ot iteded to be a statemet that ay ecessary plaig, buildig regulatios or other cosets have bee obtaied ad these matters must be verified by a itedig purchaser. 7. Descriptios of the property are ievitably subjective ad the descriptios cotaied herei are give i good faith as a opiio ad ot by way of statemet of fact. Plas are published for coveiece of idetificatio oly ad although believed to be correct, their accuracy is ot guarateed ad they do ot form part of ay cotract. October 2016. Wilkiso Williams LLP give otice that some of the partership members have a fiacial iterest i this property. Desiged ad produced by Creativeworld Tel: 01282 858200.