DRAFT

*Indicative image. Tenant yet to install signage. Poundstretcher Limited

187/189 MARSH ROAD, , , , LU3 2QL

PRIME RETAIL INVESTMENT OPPORTUNITY Poundstretcher Limited 187/189 MARSH ROAD, LEAGRAVE, LUTON, BEDFORDSHIRE, LU3 2QL

INVESTMENT SUMMARY

• Freehold high street retail investment

• Situated on the high street in a busy suburb of Luton

• 11,305 sq ft plus 9 car parking spaces

• Let to Poundstretcher Limited (5A1) DRAFT• 10 years from completion of landlord works wef 13th April 2017

• £125,000 per annum (£11.05 psf)

• Offers in the region of £1,710,000 (STC)

• Attractive Net Initial Yield of 6.85%

Freehold high street retail investment, Situated on the high street in a busy suburb of Luton

PRIME RETAIL INVESTMENT OPPORTUNITY Poundstretcher Limited 187/189 MARSH ROAD, LEAGRAVE, LUTON, BEDFORDSHIRE, LU3 2QL

S U N D O N

N P LUTON E A D W R R O A K M H A G B R T I N E O D O D I M D Luton is a busy and well established commercial centre located approximately N G A T F O N D RO BIR O A R 12 miles north of Hemel Hempstead, 13 miles north of St Albans, 15 miles west of D D D SUBJECT PROPERTY Stevenage and 35 miles north of Central London. R A O O R A N Leagrave D I D R H The town has extremely good communications being located immediately T C M1 E L T E L I E R H L D adjacent to the with access available at both Junctions 10 and 11. T E S A N W H O U I I G A K L E G L G M This stretch of the motorway is currently being widened to four lanes. H R B A O

V R A E

Y E E S A V W L

G R E H A A A N

E V Y C The M1 provides direct access to the M25, about 11 miles to the south. Luton L A 6 R O S E A V E P N T R O R O R O E M Y N A O benefits from regular train services to Central London with the quickest journey L F

D L V

T E R S R A T A UX R time of 35 minutes. O 5 W 5 0 HAL A D A D D D U L

N Jct 11 S A T A WAY B L O London is located just to the south east of the town centre E R R O DRAFT N A I and provides a wide and increasing variety of international flights. There are H A D LUTON T T E H R S W AY H A T T E R C D S W T further proposals to construct an additional runway at the airport, substantially AY I R V H N A E U E increasing its capacity. R X G H

A Y A 6 E L

L L

W CHAUL END Luton W T A E R A L C Y M1 F O 10 R Haverhill D NewpoNewportrt W A Pagnell 9 A 5 Y 0 14 5 Milton Royston SaSaffronffron Keynes 13 WaldeWaldenn 10 M1 LetchworthLetchworth

9 Leighton 12 Hitchin BuzzardBuzzard LUTON 8 Stevenage SITUATION 7 STANSTED 11 8 Bishop's 10 LUTON Welwyn StoStortfordrtford Aylesbury Garden Leagrave, formerly a village, has over time Marsh Road include , Coral, Betfred, William 9 6 City WarWaree 5 become a suburb of Luton in the northwest Hill, Greggs, Natwest, , Barclays and TrinTringg Hemel HeHertfordrtford M11 Hempstead St 4 Harlow Albans Hatfield of the town. It is approximately 2.5 miles from Coral. 8 M10 Chelmsford Berkhamsted 7 Luton Town centre with Junction 11 of the M1 less 7 1 A1(M) 22 than 1 mile away. The property is 200 metres from Leagrave 20 Amersham 24 M25 25 26 19 5 national rail station which is on the London- High WatforWatfordd 6 18 Barnet Enfield 5 Leagrave is a busy local shopping centre line operated by First Capital Connect. 5 WycombWycombee BBrentwoodrentwood 17 4 Chigwell M11 28 with a strong high street and very few vacant M40 4 Beaconsfield 3 M1 2 4 Marlow 2 29 Basildon properties. The property is prominently situated Leagrave has a local population of 12,910 with HarrowHarrow 1 1 M25 on Marsh Road at the northern end of the town’s approximately 316,000 people in the Luton Maidenhead Uxbridge CITY Henley- Slough main shopping pitch, adjacent to a Connells primary catchment rising to over 870,326 within LONDON 30 on-Thames 7 6 WoolwichWoolwich Tilbury 4 3 2 1 31 Estate Agents. National multiple retailers on 12 miles (20 km) of the centre. WindsoWindsorr 14 Richmond DaDartfordrtford Gravesend

PRIME RETAIL INVESTMENT OPPORTUNITY Poundstretcher Limited 187/189 MARSH ROAD, LEAGRAVE, LUTON, BEDFORDSHIRE, LU3 2QL

DESCRIPTION ACCOMMODATION

The subject property comprises two former shop units which have been We have measured the property in accordance with the RICS Code of Measuring Practice amalgamated to provide an open plan medium format . (6th Edition). The property has the following approximate gross internal areas:

Internally, the ground floor provides excellent clear retail space extending Sq m Sq Ft to 10,306 sq ft (7,595 sq ft trading area) with 999 sq ft of first floor ancillary accommodation. Ground Floor 957.5 10,306

There is a surfaced customer car park to the rear of the unit which provides First Floor 92.8 999 parking for approximately 9 cars. Total 1,050.3 11,305

DRAFT ENERGY PERFORMANCE CERTIFICATE

Energy Performance Certificate Non-Domestic Building

Co-operative Retail Services Ltd Certificate Reference Number: 187-189 Marsh Road 0880-0137-9709-1227-1002 LUTON LU3 2QQ

This certificate shows the energy rating of this building. It indicates the energy efficiency of the building fabric and the heating, ventilation, cooling and lighting systems. The rating is compared to two benchmarks for this type of building: one appropriate for new buildings and one appropriate for existing buildings. There is more advice on how to interpret this information on the Government's website www.communities.gov.uk/epbd.

Energy Performance Asset Rating

Technical Information Benchmarks

Main heating fuel: Natural Gas Buildings similar to this one could have ratings as Building environment: Heating and Natural Ventilation follows: Total useful floor area (m2): 1126 If newly built Building complexity (NOS level): 4 2 Building emission rate (kgCO2/m ): 94.92 If typical of the existing stock

Green Deal Information

The Green Deal will be available from later this year. To find out more about how the Green Deal can make your property cheaper to run, please call 0300 123 1234.

PRIME RETAIL INVESTMENT OPPORTUNITY Poundstretcher Limited 187/189 MARSH ROAD, LEAGRAVE, LUTON, BEDFORDSHIRE, LU3 2QL

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DRAFT

M A R S H R O A D

B 5 7 9

PRIME RETAIL INVESTMENT OPPORTUNITY Poundstretcher Limited 187/189 MARSH ROAD, LEAGRAVE, LUTON, BEDFORDSHIRE, LU3 2QL

TENURE

Freehold.

TENANCY

The property is let on an FRI lease to Poundstretcher Limited for a term of 10 years from 13th April 2017, expiring 12th April 2017. The initial rent of £125,000 per annum is reviewed 5 yearly to the open market rental value. The current rent equates to just £11.05 psf which we consider to be reversionary. COVENANT STATUS DRAFTWe calculate the site measures 0.177 ha (0.43 acres). Poundstretcher Limited (Company Number: 0553014) was established in 1981 and is the UK’s leading variety discount retailer for quality food, toiletries, garden essentials and home- ware brands.

Offering over 5000 products at some of the lowest prices on the high street, Poundstretcher stores provide shoppers with an incredible selection of value for money items, ranging from 49p up to £150.

With over 400 stores nationwide and 6000 UK staff, Poundstretcher stocks a huge selection of great value products at competitive prices, including kitchenware, bedding, bathroom products, furniture, electric goods, children’s toys and even pet care products within the brands “Pet Hut” section.

For money-conscious grocery shoppers, Poundstretcher also offer great value prices on everyday big brand items such as food, toiletries and household goods, along with great range of fantastic seasonal goods.

Poundstretcher Limited reported the following trading figures:

31st March 2016 31st March 2015 Sales Turnover £429,538,926 £438,324,686 Profit before Tax £2,405,347 £2,834,302 Tangible Net Worth £17,836,284 £16,829,937

Further information is available at www.poundstretcher.co.uk

PRIME RETAIL INVESTMENT OPPORTUNITY Poundstretcher Limited 187/189 MARSH ROAD, LEAGRAVE, LUTON, BEDFORDSHIRE, LU3 2QL

VAT

VAT will be payable on the purchase price. It is anticipated that the sale will be dealt with as a transfer of a going concern.

PROPOSAL

Our client is seeking offers in excess of£1,710,000 for their freehold interest, subject to contract. A purchase at this level reflects a6.88% net initial yield, after deducting appropriate purchase costs.

DRAFTFURTHER INFORMATION

For further information or to arrange an inspection, please contact:

Rob Steward James Kinsler Tel: 07768 108022 Tel: 07825 870209 Email: [email protected] Email: [email protected]

Christopher Dee Mark Powell 315 Linen Hall Tel: 07825 077724 162-168 Regent Street, London Email: [email protected] W1B 5TD Christopher Dee 40 Peter Street Manchester M2 5GP

MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained here in is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. Christopher Dee nor any of its employees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Rents quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable or fulfilling its intended function. Prospective tenants/ purchasers should satisfy themselves as to the fitness of such equipment for their requirements. February 2017. Designed by Creativeworld. T: 01282 858200.

PRIME RETAIL INVESTMENT OPPORTUNITY