139-142 NORTH ST BN1 1RU

PRIME SUBSTANTIAL LANDMARK RETAIL & OFFICE INVESTMENT OPPORTUNITY

139 – 142 NORTH STREET, BRIGHTON BN1 1RU 1 z BRIGHTON STATION

QUEENS ROAD

QUEEN SQUARE

NORTH STREET

THE LANES v

DYKE ROAD

WEST STREET

WESTERN ROAD CHURCHILL SQUARE SHOPPING ECENTRE

139 – 142 NORTH STREET, BRIGHTON BN1 1RU 2 INVESTMENT SUMMARY

Located in Brighton, one of the largest commercial centres in the South East of England.

Substantial multi let landmark detached block situated on North Street in 100% prime position.

Over 61% of the income secured to Barclays Bank PLC.

Low overall rent to Barclay’s Bank of £13.59 psf

AWULT of 6.30 years.

Total income of £573,524.

Freehold.

Offers in excess of£13,426,000 (THIRTEEN MILLION FOUR HUNDRED AND TWENTY-SIX THOUSAND POUNDS).

Net Initial Yield of 4% after allowance for purchaser’s costs of 6.8%.

139 – 142 NORTH STREET, BRIGHTON BN1 1RU 3 BRIGHTON

Brighton is one of the largest commercial centres in the South East of England, located 46 miles (74 km) South of London, 19 miles (30 km) west of Eastbourne and 55 miles (88 km) east of Southampton.

The city enjoys excellent road communications with the A23 dual carriageway providing access to the M23 which leads to London, the M25 and the national motorway network. In addition, the A27 skirts the north of the city and runs east / west from to Eastbourne.

In the year to 31st March 2016, Brighton railway station was the seventh busiest station outside of London with 17.3m entries/exits (ORR). The station offers fast and regular services to London Victoria and London Bridge, with a fastest journey time of approximately 50 minutes as well as local services to Portsmouth, Seaford and Lewis.

Gatwick Airport is located 23 miles (37 km) to the north and Heathrow Airport is located 48 miles (77 km) to the north west; both airports provide domestic and international services and are ranked the first and second largest in the UK respectively. Brighton is further served by Southampton International Airport located 54 miles (86 km) to the west.

LONDON M3 A3 M25 M2 Woking M25 M20 A23A27 M26 Leatherhead M25 Sevenoaks Maidstone

Guildford Reigate Dorking A228 A3 A22A27 A24 M23 AA2127 Royal A264 Tunbridge A229 East Wells Grinstead

Horsham A22A27 A26A27 AA2127 A272 A272 A23 Burgess Hill

A24 A283 Hailsham A280 A27 A259 Shoreham-on-Sea A27 Worthing A26A27 BRIGHTON Bognor Regis BRIGHTON Newhaven Eastbourne

139 – 142 NORTH STREET, BRIGHTON BN1 1RU 4 139 – 142 NORTH STREET, BRIGHTON BN1 1RU 5 DEMOGRAPHICS RETAILING IN BRIGHTON

Brighton is by far and away the dominant centre within its catchment, with a primary catchment Brighton has an estimated 1.58m sq ft of in town retail floorspace. Ranking 27th of the PMA of 515,000 and a shopping population of 329,000. centres on this measure; however, it ranks 9th on its PMA retail score and fashion score, making the retail provision tight and in high demand. There is an undersupply of large format stores 54% of the catchment are classed as being within the most affluent ABC1 social groups (PMA); within the city. which comprises a healthy mix of affluent families, London commuters, young professionals and local students. This is due to its established position as a business hub and excellent Retail demand for Brighton is exceptionally high with it being one of the key locations within proximity to London. which both UK and European retailers seek representation, having first established in London. The city’s retail offer is extensive and continues to provide one of the most exciting UK shopping In 2016 the service sector accounted for 63% of total employment in Brighton, within this sector experiences outside Central London. professional & Business Services and Finance sectors accounted for 16% of total employment, both well above the national average. Major employers in the city include, Lloyds, Legal & The retail core is principally linear, running in an east/west direction along Western Road and General, American Express, University of Brighton/Sussex and the Hospitals NHS Trust. North Street. These prominent high streets form part of the prime retail pitch, along with Churchill Square Shopping Centre, Brighton’s primary covered shopping centre. and East Street Brighton attracts over 8.5 Million visitors a year and is the most popular tourist resort in the UK merge to create a unique shopping experience of historic passageways and streets occupied by for overnight stays, contributing an estimated £780 million into the local economy. The town aspirational and independent retailers. The Lanes link directly with the city’s retail core via North includes a significant student population with the University of Sussex and The University of Street and combine to create one of the UK’s top retailing destinations. Brighton accommodating 13,366 and 21,009 students respectively. Brighton is also a popular London commuter destination with over 17.3M Million passengers using the station in 2015/16, Due to the city’s geography and historic nature, substantial in town retail development is limited making the busiest station in the South East outside Greater London. and in recent years developers have been forced to reposition existing stock as opposed to build a fresh. An obvious example is The Hannington’s Estate, which predominantly fronts North Street. The asset was acquired in June 2015 and is being substantially redeveloped to create a landmark mixed-use scheme which will significantly enhance the eastern end of North Street.

139 – 142 NORTH STREET, BRIGHTON BN1 1RU 6 139 – 142 NORTH STREET, BRIGHTON BN1 1RU 7 SITUATION

The subject property is situated on the northern side of North Street within Brighton’s prime t Brighton Station

E retailing pitch. Occupiers in the immediate vicinity include: Specsavers, Marks & Spencer, C M D A O L N Y TP E P Nandos, Sports Direct, T K Maxx, Boots, Ted Baker, Ask, Oliver Bonas, Costa, Superdry, L S IER K D T N E E R R A E RA C D N E E T O Metro Bank, Leon, Waterstones, White Stuff and many more. R CHUR O RT CH R H R U S E OA T P T R A D P R E ER O E S G R N E O A T S E R ’ T TH G ST D S C R N E N E I T R U R E E L P O N N E S L L I T D O U T E C G W H H R E E U S R E R T Q A ER T E C N R H G R T R S O N T T A R D E T E 3 S E H S T G 2

R S E A O R S D 139-142 T

S E T N D E R A

E N L R I E E T T T S W R D

O D A

P N N R Churchill Sq OR O 0 TH B A 1 P Shopping T S 0 S T 2 P R D Centre I E A KE H E N U ST S T

D A E

C R

A T L G

E P E

T N R R US E T O SE L S L N RO E The Lanes A E P N D R L T R

K A I I E N T D N G C 3 ’ E C S S D I R 2 OA R E T D M A T A S

S L P ST I B T E JA E R MES’S S H T STR ST EET S RE W N ET

E O I A L

A2 S 59 K T

C S A T A L R 2 B E 3 E T A259

KI NG ’S Main retail area ROAD

139 – 142 NORTH STREET, BRIGHTON BN1 1RU 8 139 – 142 NORTH STREET, BRIGHTON BN1 1RU 9 BRIGHTON CENTRAL

SWE O AT L SHOP SP 7 C O 1 RTS G OODS - 6 0 1 2 OF 36 1 FICE X 3 D Y 5 1 A DESCRIPTION N A N 3 2 D A W O 4 E 5 R E N ME A T D L G 1 A SE R E 3 L 1 CA RV P S 3 S R IC A U EE E H N ` T R R S H G - S O M S I S 3 T E FF T L ` 2 R IC A D A Y E O S Y L L R A & Y 0 10 20 30 40 m P A H 4 1 TO C D S T M / S P L V E 2 SU I A P U 1 E L C G D R O W M E R 1 AR A CO K A E G MP ET L O E E E S C Q T M U O HI Y IP W M NE W B C S T E OK K A TA D O K C C E AW A H AY 2 O P E L AR 1 T C H 4 & ST 2 AR T ACKE P S HE HO 1 RMA S H PE - N M G & 2 US RU 2 IC N IN AL I 1 D 2 IN 4 P S S L U - T R R B 1 - L UM E L IC H & EN S O A T G U 1 S S E H 5 S 1 E EE G 2 The subject property comprises a substantial landmark retail and office building built up over A 6 T Y For identification purposes only. 1 M 4 U W S R N I E C I - R 2 A 4 D E E SM L E O G F F KE D RS 3 L T H F A E E E T 2 AV N E 4 E 1 N C V O TO N I S - B U I T 2 C AC 0 C L H 3 CO N E N W IS O I O O H basement, ground and three upper floors. The basement, ground, first and part second floor are T 1 A E Z C K U TE A D O B ON 20 A H L S R E I T R CIO 5 ID US T A BAR T W L C 2 V E T AC A A H 1 A R N T CAFE 9 T N S VA A THE E CAN 1 TR BL T S C 8 fitted out as a bank with the main banking hall located on the ground floor. The ground floor benefits UE M S IT - 19 A 2 E E N A U T ) 4 R E 8 V 1 T 7 T B O G E AR - A E E 7 I H N E E Y 0 I 1 2 INT R N 6 R E D P O R ( 4 1 M K E T C M A O R T TT U S from excellent natural light due to three lightwells that run through to the rear of the banking hall. O N E L G - O 7 T O IST A H I A D D N 6 S O W S A S U W P 6 T A G I O DO RE 2 S NE H W & W O G O O 2 R O C U U A W S 9 T E M E E L G RA 1 P A D J I R W T A R P N O ANES B G & G - B E RE G S Y S L P T O R 6 O T D H S 7 A The main entrance to the bank benefits from frontage onto North Street. C R 1 AN A A 1 E P E` E S G R P N R B I A I EA 6 1 U E S T B AL E A 0 A C T T 8 A H LI N D O U ) 2 VA D T A PAW C E T E R LL 1 ITA 9 T T LIA I E N N A E 9 8 5 T R R N OB E E M S 1 ( E T I E AU F D 7 R K E - L L LITT AN DW L T A S LE T E N O L I C R T S BR LIN N A T I N G 0 R F H G S The office accommodation to the upper floors benefit from a separate, self-contained access from TO 9 S O I R I N R R U E E 4 J 1 G D L ` G W 2 S W GI M / FT R & Y S S T 1 E T M G T A R H N R S E E A G R N I E R E I S D C H R T B. R A A P. E N H S A M S E S SS I B JEW IN C P L L T A E 3 G U LLER EN S KE Portland Street. There is a further self-contained access to the upper floors in Kings Place. This L TR 0 T N AN O S M HE IZ CE R E E 2 Z H N 4 Y W S S W E E S TOR E M E E 0 T A H 4 2 O O C R C D R B O G C N W A V 3 G I T E STO 24 T I I A S A F Y L 1 N L L R S P E O P O S I E F 1 R provides access to both the office accommodation above Barclays and also the “Kings Place suite”. U S L B O 8 E S T W U U O HU D 1 I R L E OP O J H S OD O 2 O ST 9 U H 3 Y W R O B D O S L A U EA D E G W S - R - AD 1 P & F W H Y E P AX S D T R SH T 0 SO T I E OES HE N C E 0 I E A R Q W D 2 L E I L O V T NA H 3 AN TIO O 8 A C P N NA B T K A IN D L C F A E The property benefits from 2 lifts, 3 staircases and onsite parking for approximately 10 cars. 1 S G AR FI R T H R A O S PAR C 1 R N LA HO KS E C RI P M J 1 A H I UM UL E A T R S W TI-S BA R AR 2 TOR 2 IB M EY Y ) E D S R AR C W 3 T D C A A R (587 M L 1 ES ) (ACT O LA OT PA UAL D P H - S ) T M IE IN 4 S S 7 0 G O A EN & 2 U O S S 0 TD F W 1 . 1 O FIC 1 E 2 SH CA OR L A 4 O 3 MP W E 1 AV R E IN E EN - E T 1 G AR - D MB Q H G & ER A IN RE O S /R S TE P U E E O E L O M SY R D DS RV 9 /W OM BER IO H A EN I R& A 3 ET T D T C M D UN TO E / 6 0 E The property is locally listed and is within an article 4 area. E R E A W 2 SI M R G P RE 0 NS A AG A 1 . BR N Y B ID ON 0 AL T CO D /WR FFE ST. 1 3 E V S Y 4 JO A H 5 Y 3 C O A A 2 N P 1 1 B T AN OLI D L/W PL TH K/ VE R& AC Q E F R Y M E UA IN BO /W O D A N R R F H NC A W A I S E O IR AL G R 5 B IFT 4 V AD A S 2 G RT 1 E E W RE L R S H PU Y AD T I BL L IE U T PO IC S P N M & O F E IC EN T F 3 S H F RM O W 1 EA IN B S R O BU 7 S G O TL N ASS T ER 2 S C S A L & B I LO I /W E TA P P TH A R& LLE LI I S IN R M A G 2 8 TH / T N T IS W T IS R HE RE C 1 2 N S C H S IN OT TR T HE RI T DE A E M E SE E C BU A IS J LL OR TCH TM E I D ER E T WE 9 C S NT E L 2 E OL B ( LER 2 LE EA 2 1 P C C U R ( L TIF TY ET R CL OT TENURE AIL ARK HIN E G FL T S S OO OF TAT ENT R S FIC ION RA S) E EQ ER NC R P UIP S E EST M 1 1 A D PR EN U E T 1 R TTY 3 L E EC N CE SIL LU A R N VE C TRIC RA RA C M A B L D F O O /W O T E N R&M JE HO O T O L D /W 0 W DG M R E S H L S L S T Y 1 L O C S S E ) R T N E . T R E N E O T & T S D Y E P G R S S T O I E T A T W R T Freehold. ` S A N S ) F T E C R O I P K U I C C R W E L G L G IN N E Y S D GE C W D RS O Y N O N E O 2 S O I G R O SH E TA A R O 3 A P H O S ES C A E R O H 9 C S R U I I A S O K O E C O L P E U I C U L E A O N M B N D W E F T K F O J AY F AN R T T E G U E O S E IC E T A L S K A S S E H V L C B 8 H A O T N V S I F R R P E R A I T DO T I 4 M T A A LP F N H R L A 3 L IN 13 F R A T A E I R 0 R T T K H T O E O S C Y US O N A E E A L R HE C O D A L 1 C D S LT IN 3 P A T T W BA H IC 1 R HE G G S 5 CE P S C EL L NT 5 1 S E P AM M 3 IT R 34 C BR AN TL E S 2 Y ID B E 1 ( GE A B JA 68 A R SA KER EA SM - A TCH 7 UT IN 7 1 V E D S Y E 0 3 2 L LA L 6 T S 4 G D CO A A A U ( IES M GE LO A PA 3 O N E C CC NY H N 5 S T 67 K E ES AIR E M S SO N O 1 1 R N R O T N 3 I & 4 N R E 6 C I S 7 H E T 6 I W 6 A A O D A O S 3 L H 3 N T 6 T KY A D 3 O O S IR S H R F - B D T F R O S O 1 B L M H A E S 6 K ON O P N R 5 ES U I T N S DO P R 6 L N A H N F 1 A 8 I A I A C RR G - T CE 5 B E TH E 1 A L R T T 6 3 L SS 3 GU E T G 2 8 L LA A J L L V N N AC R C T A I N 6 N D CE HO RE S U E 0 S A U S ICE R O B A 5 O P O K O O R 9 N E R Y E C R R T A D P H S R I E 5 O A 0 L E O U T B R R L F 8 T L R ( L R R SO H I R B A A 4 E H L U C N I A H G N 5 R V N N U I 7 S O E E T H E E E L E L S R N B G T A C K - N NT S I 5 S S S O I T P O 4 O E A A 5 & TO LE E T - P I O CA N T T D C G G 5 T A O S F E T I T O 6 W M T H 9 F I O X O R 6 P O H T I R D R E E N N S O B A E H N R 5 U E G R O Y 3 Y S 3 E E E T E S O - N C H C R 4 F R I E P N N 5 V O R B E 4 L I O I Y E N I O F E D H 1 O A U ) N F F S E R 4 M S T E E IS Y C A 5 T L O A 2 3 O T T S E H G R P S & B B S E R E E W O H C R T F W E R H O K R 5 T A H A T Y T 1 A P S A M 1 R S P I C Y P U E D G 7 N T B K P P S I N N M T O Y O D C U P R O 3 4 O L A O Y 5 1 I D C L 4 P I L E N R S H O R G S 0 U R I O A N 4 A IL G N A E I 4 D Y O D K R S R R N S M E 4 S A F A O W E C H R E K 9 N O E R E O T P W O T T N A A S LO S P O V 4 S T R S X N O O C 7 A U M N S A U - O G F S 4 H D A F O E F A 8 C 2 D I R 1 O - P N H E B O N R S 8 E A 4 U A T T I 4 R 4 B L S 6 C O A O L B N R E 5 T T G O E IC A H T A - 4 A R P R K R S A 4 H E I 1 F H P N 6 H 0 T O O M L S T 4 C P L U S I S P I 4 A IA S D N 4 7 S A V C E 1 A T F E E M D D A I I I I U & A A E T S I E S 4 B IE T A O 1 G M R F S T T - S R O S N C N 4 2 E R T E S R L A M 3 S S B 1 I A T E G R L T P E 4 A 4 9 W A C N Y T 8 O I T A Y E F S T 4 F C E C L N N E P P 0 C E P Q 4 E O F A E M A E R A T E D E P I U S I A E P R K I L S A O C B T T O E I S AK E U N M E R I E 4 I O E P O 1 A E A R O A G N P 0 G C S M X H H B 4 C N R A N I E I G T 9 X C R B B I S D T E A A B I S T S A C N & K A N I S 3 S R 1 A O J B 9 N S O 5 S E A N T E N H N R G I 0 E 0 B E O N F A H S AR H T L I A T 7 O G 5 NA M L A T T J R R L G I G A O T B D U 1 K O T T P C `S A I 5 A I H D R S N N -N A H L L 3 R U A E A ITY K H B R E - E S M S E E 1 T D E I HO S Z K B 5 W R G H P C V G 4 A E O Z I L R E D S 6 U T I 3 T A S R A A 6 E R P L & T P N R O E H T L GA C O B S S T P A T R E E X T A IC PPL AL H C V X & I & T AIR P T ANC S E A A A G U E 5 B XTEN 3 B E S S V B M N 6 L MA ION OM R I L E S ST I ER T T BA T C G S Y K H ? H R U N IN A N D LO T E 3 O A IA O T S 2 P T A O A A N Z U NK R O I E H G O E S V R R F S N T F T L K E E IC 9 S O T Z N E A I R U U B 3 C R E E S C U N H 1 A I S R O R E ` A A 5 E G R DE 1 S O R M S 5 F C R N D A T T G L H U Y E Y I P U W G U - T A D E S S I E I R F S 8 S N L I S S 1 A S M N B BU T 3 S E T C F E S O I IL 3 I S P B C 1 5 T I O D O E N E E 7 IN E V 8 F U L G N E L H E A A O S T C T N N & O L S O N B T Z 3 Y O A T F I I R R T R R S L A H U H E R I E C F T G N R S D E R E H I T - G 7 2 L T D I E I O C & E T M A L N E E U F R H 4 3 O R U 3 N R S E T S M I U 0 O A 2 N 2 F C F S / F F S A ( 4 J T W W A A W P G S N C 3 I T E N R N I R R 2 N E 7 C A 2 U N H M 5 U R D O D E R IT - O B O T F IN U 1 A 2 S T R F R H I 3 G 4 B C O O S 5 6 O O S U E B O & O E P Z U L 2 ` O U O 2 9 D M G N A R R C E 7 R O S D N T T 8 R C P N G A T E E N A I S S S D O E F O B A R T C H S E H T X N 28 U R G A I A L E Y T H Y A 4 E I ) 3 C D W 0 S 6 E P S G G L E 0 I 2 T L TE C I T L 1 E L D N 4 A 3 A A A E L T N D M F E 3 S 1 T 3 - S E A O 2 R E C R N M 2 T R R N E H N V A N W O T I I R S E R M N A A 2 3 I N R H A B 1 2 O I O D A D 2 R A N S A S C O N U O IN H A P I E R 6 H R A S O G C R P D E E C F 1 D K L H K R & 7 L O S A C S 3 G H U & ( U - 3 O E 4 L O E A O C 1 W G R R D P O L K O G S 9 S A E O E R E L O T O A U 3 O A L O E I 4 A E IL D A N S O E S S W F S S T 2 D L B 1 C L 5 V R T W 6 T P B D O ` Z D Y & B O C S 3 A / R 3 W G R 3 O A R 1 T A N E 5 E 5 A S S) K F E M E F O L N E F T - S 1 K I A M A Y 4 U G A C R E T (P N 3 N B W A E 6 R A I R O 1 D T R T T T & E E A N E I E 3 O 1 P E C A N T S E A E I T A A R 2 L M O 1 R J A L N I S 2 I P R P 3 L J W R W I A 3 T E 5 R IA I N N D L 7 G W T M Z I 1 S G E N N N S I A A 1 O 3 A O U S O L P E N 8 Z A W O K 1 L L D L T O 0 Y I T S E / S C G T ) R C 9 3 L E S O O R S G O L S 9 S Y P S L A I ` S E C N ( N S O A V T R G A K A I L E I P 2 B N E 1 A H A 8 I R E / T C T B O N S O E A 4 D E V K I B A B C H T I & E H L B P U & R C O A ) O O T S D N T T Y S C R F 7 M U E T O F O O RE R O A T E E O M O N C N B L H A T O T S L U R E Y I P M U O O & C C H C Q G 2 A C R N B I A C C E G I E G O S 3 V L T N V I & F E A I R R T E R F C L F E Y B T H B E E R TW L N I I T D O O ST 6 U R N ON ED N Y O T I O E E H L V O D D `S EMO Y D C S W T 2 G N L N E N S 2 A W D R R H & B C C 5 A A N I T V N R A L E A D P O I S & O I C L L R N E R 0 O E O S N 3 T S 3 R T P T ST T R - W W I O O O 1 4 B E H D U O 4 R O IL E 1 D N F C N 6 T P C A L E E U S A M L A 2 TE I S IA T D E 2 E JO R O E R T E E 1 AN E M & N V P I M L C O & N A I O S F - B U H W F F A C IC HA A N U D A IN A 1 N IR B R T E 2 F T A E S W 1 V D B R T N V B T 0 S F G 1 E S 6 U IO E - 2 A A E 6 T A S N I H G O 3 L N 4 N C C H M S D W S L 2 E E A 2 IN T A E A E ID G E R H D O S N 0 G E S E N L C S E A M I P A IN O 6 M B L E E T T A 1 C A F `S S 5 IC N IE P U N & B 1 K I E V E 9 TY 5 4 R R S A S NIT W 2 EL N C 5 - B U E 1 J L N (2 RE AR E ER T 1 1 & R 5 E W W A 6 5 D E 3 M V E N 7 W T 3 1 A A N L O R A 4 G FL AI R C L O T S O L W A A E D N C - O 3 ST O N L R A 1 RS T 2 U OD MID T E 8 ) D A 2 E V L N IO S 1 T ID 3 C S T S A P A O N A 1 F UC U O C S O E JW H A Y H O O L 1 C N E T L R T A S O N H A R 3 S 1 H 6 B A T L C H P A T V S A 0 3 A C R 1 X V 1 E L E FE IP H I & T H R IN S G 6 O P E E U 5 C S A M H 1 E G C OH T N A R A D M O R & J N C R A T E G I E 5 R A O A CO E L 0 W K E V S F T M T S P H F T A 1 7 T E R E S L S G 5 H H R E H L T - O E 2 E C 1 A E W R LA IN T T R N B C R 8 5 V N E E / PR E A E A L T 1 I O S T S IT A T S C - FI JW M H H T 6 LE V L C 9 - B O LR 9 E O E E N T RI I R P L P S GH E F A A A 4 2 4 T F V N IN R E S ON S E N B 8 D I E V E E S C L T I L S - I R W H 9 5 / E U 1 A IO M A E A W L M A E R R& U R S S JE N T T T L L O R 7 S D A I M L U V W N 1 I E O R Y EM E` /W E N A E D R N S R E 8 9 L 4 T 4 A E T P C Q C L S T E O L N A 1 T E E W A E R O N E R L U IU X O L I G S A W K M W O R T T & E C L E S G A E T R D T E E R L E A N E O U A H A 7 N K 1 E E O A S C E E E 8 S W A J A W L I D A I B S I C ED C S B E A 0 IV E L E V B R R R I C L D A L E 1 E P T D D N S R N I S I NS 0 H S 2 IA E S A E D & J E O E 6 T A E S A J M O V D D N N T F E O N E S A L L E T C O W N T V ` H P R 2 9 P D G I A A E U S N E V D T O N A B T L S R C L T N E 1 R L M E I 1 L A L 7 I E 1 E T I I O O C A R 2 N R E M U H L G N V B H D S 1 R L N O G D E V 1 A N E W 8 B J O U M T 9 K E & / E A U I L R 5 10 - T I L S A W 2 I T E 1 R R E 0 E H A H M E M O N M F E S K F S H U A F 9 L T L T & R U F A ` N H W E R N L T E I E I F O 6 S E G L 2 L C 8 2 L V E T Y E 1 O O I R E I E E A R C F O 2 R D J J R H C K U L P L H W H J W R 5 A T 3 D R R E N N A 2 J W T O N 2 A L P L N O D A A 7 2 C / J / F R D T X Y L C B W I 2 E L S C L S L V A L R E S A J N O E W & L L R E A T D T A 4 T E N / M W S I G E S 6 23 /W 6 A H R E H U B E E R S 3 E E 2 R R O E D L P C T K Y 4 2 O E E M B L 25 6 A O L T E D H & L 5 2 E M 3 N W E U V - S 5 S R T T T R G A & A G T J N T O E L O T E L S A R B U W A U J F S E S 1 V A H R H O I 1 S R E T 4 L H E O L A D A A E & E S O E T E I H G 2 C R L C S L S 3 L 1 I L R A D R E L F W M S - B 2 T N E I R K R E Y S W 4 L A H I B N C E L E R L E E A A E A R I N N F A F 7 M G & C R T U T V F M W E E C J C S H C A V I E S H I T A T & E D 5 H D R P I O A M I O S E N E P W N S U R G T Y L E R S I A T 1 S D M R I O I U 5 T O D 3 V C H D T O U A R R W L R Z F N O R N /W Y E P 2 O M A / 6 T D A O A N A J R H 1 5 T L E 4 P R E H D L & W L P S S 1 D 1 L A A T R L U V S 3 B E M E N E 4 / 2 S T M A W L D S L E Y H B N 11 L A C G E A U T R S M E - E I N 1 E M A E R S L K 1 T D 2 O R B A AN E 0 5 U O S C L A C 1 U E N S 0 E R I H S W S S 9 O C L 1 H M B O U W E B E A A P 8 C 1 W E 8 R E Q O T R P J E M AR U M I V M C 6 R H S W T E O H O S 5 C P B 6 X I J C C L 3 O - I S H R T G E A R I P I E S 7 C O T N D U W O A C I I T N 4 C A E Y G A - N E A A U F Y L H L B L R W D E L O S E A A S T F -D O I E V O S 2 A S O C R 9 Q O A T H S O V H L C U 8 O C 2 J M O H K E U N D O O E 1 AN R DA Y 6 W O A T C T D H D T 5 E N R E S A R 5 I L D E D H O I L T T 9 A P L A L T D RO T Y S M E E I WG NTA HE AL BA B R H A E E P R K T 1 H S RIN B D IA ER ON E F H T T U I ` C T N D I R S 7 7 L P S D - I E T I P IN - L RT G G 3 S 7 8 A &P 2 I T J E L T H F W V CP T A L 2 7 N I Y 2 E S 2 U R R T R NU 1 O B H R A N OC JE S D 6 O B T M T I U JEW EAN WE AM C T 1 L O M P V EL L N A N AC L E D R F A ER R U E N 2 E S A T R EN 8 F D C T 2 IN T H 5 9 R P 2 C AN I H T O A DW C J C D E E E A O S 10 I V M 139 – 142 NORTH STREET, BRIGHTON BN1 1RU L E S U L E H W T M IN 6 NG E R / C U A GS LA EL P G E W N N S L R I O E D 2 AT D 9 VO L E T WE H G E S R T L R L T L I O 2 R E T 1 L - N M R U S I T D E B J E H 7 C R N NG E EW D T A /C T S CO E IA AU I 2 I A R 2 O L M BO D 2 3 U A 4 L O O E N UT G RA 1 N P N 2 0 R R D IQ N C 2 W O P U 3 I E 3 Y E E T T A NT AL T S S H 1 A JW H AF U C F R L R OP 4 G IR G E 6 V E R L Y O M O G L O U A E R D N O N W S R T E E N J I ` J E R C T S D W M I V J L L S O E S 1 W L N L /W 5 E L T E T S R L R E & T E R T M O N E I H E R A C E N A L S D U L W M I G N U 3 L I L R N N 1 G E A A I I A U L T A J R E R E L 2 O I 1 3 D D 1 2 B E P 4 H L F A W C R S 8 U O T 3 L FFI 2 E E B H P C L E P O 4 J D L E 5 5 R 9 T I A L E C Y 4 A D - S E ) - 9 D 8 H 3 L T R O W T S O V W T A E N L I L N C 5 N 0 L ) 4 G E U U G I A L F L N L 7 E O D S N A T 2 N I J K 9 T N R 5 O I A D A D A W E O T ED E E 4 R L N T H E F J B A 5 R ( E 5 H O G R O R A R - T E M R ( R E R E I W N H R A L O I N TH I 4 A B N T 6 R T G L L L U D C D I E E D A M T L R E A M D IO C T I A R T E I O J I 4 N D R W S G A G E P R 2 G 4 R G ` A C F A L O A O W I R 1 J C L T T T F AT 5 U E 4 D H I E E D W O IO 5 R R A N R S N F 3 A N J S IN H A I B L R J R A C G E 9 K T B 3 T E 1 N C 3 H N & E JE S O 6 E D R 6 B O 4 A L M W G E L D S H 5 R 4 I 5 D O E H R E E S R E E A R E L E 8 I O Y B G K T L L I N . E B R J A T FF R R E G L V W E 4 I ICE T I IT EE L L 2 N E E S S E C - E O IS S L W G R R S L H L L - E H D 1 IC R E E H W R T V C R I E R U E O N T E W H O S E U 7 R E P 4 9 3 D T L S E L R A E L T 1 E T L I E A J A L B J L B H E 5 N O P K S A C E O E L S C 4 O K N E O S M E E E R B C F W T F I 1 H O R E S 7 H R S S R 5 H C L J A 1 - D A IC H L 5 5 E E E C I D W IR 9 T S M R C T A C A D L R 6 M E 0 I A L D U W 1 B A L I J A S C L A R R E T E Y A S IN O E 1 R J W S A `S E G F 6 P B B L F R S F S Y N 3 H E I D O I 0 A O C C 9 S I LE L R M L E O E IN - N A O LE R D E T G DIA F S H R H C B O 8 139 – 142 NORTH STREET, BRIGHTON BN1 1RU 11 ACCOMMODATION & TENANCY

The subject property is multi let in accordance with the accommodation and tenancy schedule below producing a current income of £573,524 per annum.

Address Tenant Description Area Area Lease Terms Rent Review Rent £pa EPC Comments (Sq m) (Sq ft) Rating

Basement, Ground, Barclays Bank Ground Floor Banking Hall 714.98 7,696 20 years 24/07/2021 £350,000 D Part second floor Part 1st and 2nd Floors Plc Ground Floor ITZA 138.05 1,486 From: 24/07/2006 offices currently Basement Ancillary 739.87 7,964 To: 23/07/2026 under offer to Surge First Floor Offices 631.09 6,793 Financial Ltd by way Mezzanine Offices 22.76 245 of a sub-letting. Part Second Floor Offices 282.89 3,045

Part 2nd Fl, 19a Daniel J Part Second Floor Offices 339.09 3,650 5 years £73,000 C Portland St and 3 King Edelman Ltd From: 22/06/2014 Place To: 21/06/2019

3rd Fl, 19a Portland St Surge Third Floor Offices 507.25 5,460 5 years £125,000 C and 3 King Place Financial Ltd From: 09/03/2017 To: 08/03/2022

King Place Suite Sitevisibility Ltd Mezzanine Floor Offices 52.10 561 5 years £25,524 D (self contained offices) First Floor Offices 47.80 515 From: 01/11/2013 Second Floor Offices 31.85 343 To: 31/10/2018

Roof Space, 19a Metranet 5 years Used by Surge Portland St and Communications From: 09/03/2017 Financial for their 3 King Place Ltd To: 08/03/2022 business operations and therefore could be removed upon expiry of the Surge Financial lease.”

Total 3,369.66 36,271 £573,524

139 – 142 NORTH STREET, BRIGHTON BN1 1RU 12 REDEVELOPMENT POTENTIAL

The subject property may be suitable for future redevelopment (subject to necessary planning consents) to include:

• Removing the lightwell and increasing the overall area of the building. • Building up at the rear of the property, subject to necessary planning consents. • Alternative use on the upper parts to include: Residential, Student or Leisure. • Potential for alternative use on the ground floor to include A3 restaurant use, subject to necessary planning consent.

EXISTING FLOORPLANS

Basement Ground Floor Mezzanine First Floor Second Floor Third Floor

139 – 142 NORTH STREET, BRIGHTON BN1 1RU 13 139 – 142 NORTH STREET, BRIGHTON BN1 1RU 14 COVENANT INFORMATION

Barclays Bank PLC is a British multinational banking and financial services company headquartered in London, specialising in retail, wholesale and investment banking. The bank is one of the most recognisable brand names on UK high streets with over 1,600 branches in locations across the country. Barclays has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index.

For the year ending 31/12/2016 Barclays Bank PLC reported a turnover of £27.22Bn and pre- tax profits of £4.38Bn. For the same period the company reported a net worth of £60.08Bn. VAT

Value added tax will/will not be applicable to the sale of this property.

PROPOSAL

We are seeking offers in excess£13,426,000 (THIRTEEN MILLION FOUR HUNDRED AND TWENTY-SIX THOUSAND POUNDS) subject to contract and exclusive of VAT. A purchase at this level will reflect a net initial yield of 4% after allowance for unadjusted purchaser’s costs of 6.8%.

139 – 142 NORTH STREET, BRIGHTON BN1 1RU 15 FURTHER INFORMATION Should you wish to view the property or require any further information please contact the sole agents.

Andrew Halfacree BSc MRICS Stephen Raingold Director [email protected] E: [email protected] Joseph Rantor Ed Deslandes [email protected] Director E: [email protected] Steven Lewis [email protected]

15/19 Cavendish Place, London W1G 0QE Pavilion View, 19 New Road, Brighton, BN1 1UF Tel: 0207 580 4333 Brighton Office T: 01273 727070 Fax: 0207 580 5111 www.flude.com www. lewisandpartners.com

SUBJECT TO CONTRACT AND EXCLUSIVE OF VAT

LEWIS & PARTNERS LLP FOR THEMSELVES AND FOR THE VENDORS OF THIS PROPERTY WHOSE AGENT THEY ARE GIVE NOTICE THAT:-

1. These particulars do not constitute any part of the offer for sale or contract for sale. 2. All statements contained in these particulars as to this property are made without responsibility on the part of Lewis & Partners LLP or the vendors or lessors. 3. None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. 4. Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 5. Any plans or photographs or drawings shown in these particulars are to enable prospective purchasers or tenants to locate the property. The plans are photographically reproduced and therefore not to scale except where expressly stated. The plans, photographs or drawings are for identification purposes only. 6. No warranty or undertaking is given in respect of the repair or condition of the properties or any items expressed to be included in the sale. 7. Any properties or drawings of the relevant property or part thereof or the neighbouring areas may not depict the property or the neighbouring areas at the date a prospective purchaser or tenant inspects the property. Prospective purchasers are strongly advised to inspect the property and neighbouring areas. 8. Lewis & Partners LLP have not measured the property and have relied upon clients information. Therefore Lewis & Partners LLP give no warranty as to their correctness or otherwise and the purchasers must rely on their own measurements. 9. All terms quoted are exclusive of value added tax unless otherwise stated. 10. The vendors do not make nor do Lewis & Partners LLP nor any person(s) in their employment give any warranty whatsoever in relation to this property. 11. These details are believed to be correct at the time of compilation but may be subject to subsequent amendment. 12. These details were prepared as of JANUARY 2018 Adrian Gates Photography & Design 07710 316 991

139 – 142 NORTH STREET, BRIGHTON BN1 1RU 16