75 High Street, Brentwood, Essex, CM14 4RP Freehold Well Located Bank Investment let to the undoubted covenant of Barclay Bank PLC

Highlights

o Prime High Street bank investment Offers in excess o The property totals 957 sq m (10,300 sq ft) over 3 floors £1,600,000 o Let for a further 7 years (2 years to break) to the undoubted covenant of Barclays Bank Plc

Total income o Total rent of £150,000 per annum £150,000 o Rent review in August 2019

o Nearby occupiers include Costa, Burger King, Waterstones and Yield NatWest

8.83% o Freehold National Investment

Location

Brentwood, with a population of some 79,000, is a popular South Essex town, located approximately 18 miles (29 km) north-east of Central London and 11 miles (18 km) south-west of Chelmsford

The town is well connected being located south-east of the A12, which links to Junction 28 of the M25 Motorway approximately 1 mile (1.6 km) away.

Brentwood Rail Station provides regular services to London (Liverpool Street, fastest time 29 minutes) and is currently being improved to facilitate the new Crossrail services, (www.crossrail.co.uk).

National Investment

Situation

The property is situated on the north side of High Street (A1023), between its junctions with Ongar Road and Weald Road

Occupiers close by include NatWest (opposite), Costa Coffee (adjacent), Burger King (adjacent), Waterstones, Dorothy Perkins, Fat Face, New Look, Boots, WH Smith, Superdrug, Marks & Spencer, Iceland, Starbucks, Greggs, Zizzi, HSBC and The Slug and Lettuce, amongst others.

The William Hunter Way Car Park and Sainsbury's Superstore are also located to the rear of the property. National Investment

Description Tenure

The property is arranged over ground and two Freehold. upper floors 957 sq m (10,300 sq ft) to provide a modern ground floor banking hall with ancillary offices over the two upper floors.

Accommodation & Tenancy Schedule

Tenant Demise Area Lease Lease Rent Effective (sq ft) Start Expiry Review Rent (£ p.a.) (Break) B 640 GF Barclays 4,650 02/08/2026 F1 03/08/2006 29/09/2019 £150,000 Bank Plc 2,503 (02/08/2021) F2 2,507 TOTAL 10,300 £150,000

Covenant

Barclays Bank Plc reported the following figures:

31/12/2018 31/12/2017 31/12/2016

Turnover - £8,775,000,000 £8,625,000,000 Pre Tax Profits £1,286,000,000 £3,166,000,000 £4,383,000,000 Total Net Worth £60,057,000,000 £60,829,000,000 £60,057,000,000 National Investment

EPC

Please refer to the Allsop Marketing Data Room for supporting documentation

VAT

We understand the property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of Going Concern (TOGC).

Dataroom

For access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/brentwoodbarclays

Proposal

We are instructed to seek offers in excess of £1,600,000 (One Million, Six Hundred Thousand Pounds) subject to contract and exclusive of VAT. This equates to an attractive Net Initial Yield of 8.83% and a capital value of approximately £155 psf, allowing for standard purchaser’s costs.

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. 07.19

Ronnie Morgan Liam PhilipStray Parsons Surveyor SeniorPartner Surveyor +44 (0)20 7543 6808 +44 (0)20+44 7543(0)20 67697543 6891

[email protected] [email protected]@allsop.co.uk

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