Outstanding Convenience Store Investment Opportunity 4,000 Sq Ft Convenience Store

Outstanding Convenience Store Investment Opportunity 4,000 sq ft convenience store

Aberdeen, Countesswells, Unit 1 Neighbourhood Centre Executive Summary • New Build 4000 sq ft convenience store within Outstanding Convenience Store Investment Opportunity high profile neighbourhood centre. Aberdeen, Countesswells, Unit 1 Neighbourhood Centre • Agreement for lease in place to Sainsbury’s Supermarkets Limited for a period of 15 years without breaks on an FRI basis. Tenant Option to extend for 10 years. • Initial Rent £65,000 pa (£16.25 sq ft) with rent reviews at 5 yearly intervals (uplifts linked to CPI with a cap and collar of 3% & 1% respectively calculated on a compound annual basis). • Lease due to commence Summer 2021. • Offers are sought in excess of £1,070,000 (One Million and Seventy Thousand Pounds) exclusive of VAT. A purchase at this price would reflect a net initial yield of 5.75% after allowing for purchasers costs. Welcome to Countesswells Countesswells is an exciting new community in a prime location to the West of Aberdeen. There will be 3,000 homes comprising a range of residential opportunities set around public parks and squares well connected with pathways, cycle

Neighbourhood routes and bridleways that will link new schools, Centre health and leisure facilities as well as retail and business space.

Indicative master plan layout

Aberdeen Location Aberdeen is Scotland’s third City Countesswells is located 4 miles west known throughout the world as the of Aberdeen City Centre, 1 mile to Granite City and as the Energy Capital the north of Cults and Bieldside and of Europe for the last 50 years. The 0.5 miles to the south of Kingswells. City is the administrative capital for The neighbourhood centre which North East Scotland, has a resident will be anchored by Sainsburys, is population of 225,000 and a catchment located within the northern section of approximately 500,000. of Countesswells in a prominent location, immediately adjacent to the first primary school for the development. Countesswells is already proving popular with residential developers Stewart Milne Homes, Kirkwood Homes, Barratt Homes, David Wilson Homes and CHAP Homes all on site. There have also been affordable homes developed for Hillcrest Housing Association. The latest projections suggest that there will be in excess of 700 homes completed by June 2022.

Description CO (OP) CO

W22-95-3D 101

3ET

3ET Block 3ET

3ET

W22-83-

W22-83- A The subjects will comprise a ground floor retail unit

W22-83- Block

AR (AS) AR AR (OP) AR AR (AS) AR AR (OP) AR

AR (AS) AR AR (OP) AR 16A Apart108-12316 Apart 100 (63) extending to 4000 sq ft forming part of the ground CV (AS) W22-88-3D (63) 102 103 104 105 106 107 floor of a new 4 storey building, the upper floors

AR (AS) W22-83- 3ET

1280l being in residential use. The unit is the anchor of General 1280l Refuse General Refuse 1280l recycling 1280l recycling

240L food waste BIN 98 STORE STORE STORE W22-61- BIN 2MT-AS STORE

BAN this neighbourhood development, in addition to the

CW (OP) CW

W22-96- 3ET 97 N5 Development Block convenience store there will be 3 further units of

1280l1280l generalgeneral refuse refuse 1000 sq ft. 1280l1280l

recyclingrecycling

waste waste

food food

240L 240L

1280l1280l

general refuse general

recyclingrecycling refuse general

1280l 1280l

W20-56-2F MO (AS) MO 42 44

41 3ET

3ET W22-96- W22-96- CW (OP) Servicing

CW (AS) CW 45 43 40 W22-61- 2MT-OP BAN AV (AS) W22-70- 2MT

AR (OP) 39 W22-83- 3ET AV (AS) 46 W22-70- All units benefit from rear servicing and there is a 2MT 240L240L foodfood wastewaste 1280l1280l recyclingrecycling 1280l1280l generalgeneral refuse refuse

AR (AS) W20-128-4D W22-83- 3ET

WI(AS) dedicated service layby. NOTES 38 47 1. This drawing is to be read in conjunction with all other

CP (AS) W22-89- drawings and specifications. 3ET LH (AS) 2. Do not scale off this drawing. Written dimensions to be taken only. W20-123-4S 3. Any discrepancies found between this drawing and other drawings and specifications in the construction CP (OP) W22-89- 3ET documents must be referred to the Landscape Architect 35 37 Parking prior to work commencing.

4. This drawing must not be copied in whole or in part W22-88-3D

CV (AS) CV without prior written consent of Optimised Environments Ltd. 5. Survey information is based upon aspect surveyors LH (OPP) Topographical as Survey. W20-123-4S 34 The development will benefit from 23 car parking spaces.

33 ABDN

W22-95-3D

CULTS CO (AS) (AS) CO W22-95-3D service CDM INFORMATION

1280l general refuse general refuse 1280l general refuse general refuse 240L food240L wastefood

layby waste

recycling

1280l These proposals are considered to present no site specific

1280l

recycling

recycling 1280l AR (OP) 1280l nor extraordinary risks beyond those which an experienced AR (AS) W22-83- and competent contractor should already be aware of.

W22-83- 3ET car ABDN

parking CULTS

1280l 1280lrecycling recycling 1280l general1280l refuse general refuse 1280l 1280l 1280l recycling 1280l recycling general refuse general refuse 240L food240L wastefood waste

B 58 car KEY PLAN

838

838 59 parking

60 C general refuse 61 1280l

57 1280l general1280l refuse general refuse 1280l recycling1280l recycling 1280l general1280l refuse general refuse 56 240L food240L wastefood 62 waste recycling

55 1280l A

240L food240L 54 wastefood 63 waste 1280l general1280l refuse general refuse 1280l general1280l refuse general refuse BACK OF 53

general refuse HOUSE

64 1280l

general refuse general

general refuse general 1280l

1280l

recycling

1280l recycling

52 N6 Development Block 1280l 65 71 24 Parking Spaces waste food 240L 51 66 P2

838 72 67 838 838 50 838 2 P11 68 KWELLS 73 69 74 70 ABDN

P19

838 838 3

P18

KWELLS 4

ABDN waste food 240L 1280l general refuse

P2 1280l Top of basin general refuse 1280l recycling 1280l F1 recycling P2

78 92 Bottom of basin 149.50 99 SUDS 4

SUDS BASIN 06 - 149.50 98 P16 91 STAGE 1 97 SUDS 4 148.33 79 96 Primary SUDS 1

90 Bin P2 stance SUDS 4 80 94 School B6 100 95 RETAIL 1 RETAIL 2 RETAIL 3 RETAIL 4 B6 -- -- 81 95m² 95m² 98m² SALES AREA

S3 372m² total Issue Revision Initial Date

SUDS 1 101 Unit Unit Unit

SUDS 6 82 25 Parking Spaces P16 Berm between basins

Optimised Environments Ltd. Registered in Scotland SC359690. 85 Registered address: 2nd Floor | Quartermile Two | 2 Lister Square | Edinburgh | EH3 9GL A C 104 SUDS BASIN 06ENTRANCE - ENTRANCE ENTRANCE Client P2 STAGE 2

148.33 Countesswells Development Ltd.

SUDS 1 B 105 ENTRANCE Project COUNTESSWELLS, N12 HOUSING S3 148.40 Top of basin 106 P16 Aberdeen S3

148.40 Existing burn channel, boulders and headwall to be removed. 148.40 Drawing Title 148.33 S3 W14 148.33 107 RETAIL/ FLATTED BLOCK, PLOTS 1-20

Ground Floor Plan

Scale Bar North

1m 2m 3m 4m 5m

Scale: 1:100@A1 Date: 16/11/2018

By: JN Status: PLANNING

Checked:DRAFTDF Approved: DF

Drawing Number Rev 342_N12_OP_100 A

Computer File: P:\XXXX\XXXXXX\CAD\SHEET\00Plot Outstanding Convenience Store Investment Opportunity Aberdeen, Countesswells, Unit 1 Neighbourhood Centre

Tenure Heritable (The Scottish Equivalent of English freehold). Tenancy Statistics for Sainsbury’s Supermarkets Limited An agreement for lease is in place with Sainsbury’s Supermarkets Limited for a period of 15 years without breaks on an FRI basis at an initial rent of £65000 pa (exclusive 11 Mar 2017 10 Mar 2018 9 Mar 2019 of VAT). The tenant has an option to extend for 10 years. The initial rent devalues to £16.25/ sq ft. Rent reviews are Turnover (£) 23,234,000,000 23,606,000,000 24,030,000000 at 5 yearly interval on a collar and cap basis linked to CPI calculated on a compound annual basis. Profit before tax (£) 342,000,000 187,000,000 174,000,000

Tenant Covenant Total Net Worth (£) 4,353,000,000 4,562,000,000 5,669,000,000 Sainsbury’s Supermarkets is one of the big 4 Supermarket operators in the UK, with a market share of around 15%. As at 7th March 2020 Sainsbury’s occupied 1415 stores amounting to just over 23M sq ft of floor space. Sainsbury’s Supermarkets Limited has a D & B rating of 5A2 and is a wholly owned subsidiary of J Sainsbury PLC (an entity that also owns Argos, Sainsbury’s Bank and Habitat). Outstanding Convenience Store Investment Opportunity 4,000 sq ft convenience store

Aberdeen, Countesswells, Unit 1 Neighbourhood Centre

VAT Legal Pack / Closing Date The property is elected for VAT and we Interested parties requiring the legal pack would expect the transaction to be treated and wishing to be advised of any closing as a Transfer of a Going Concern (TOGC). date (which may or may not be set) must All enquiries to the note their interest with the sole selling sole selling agent. Anti – Money Laundering ( AML) agent through their legal agents. To satisfy HMRC and RICS guidance FG Burnett is required to undertake AML The Proposal diligence on both the purchasers and Offers are sought in excess of £1,070,000 vendors. Accordingly, a successful bidder will (One Million and Seventy Thousand be required to provide detailed financial and Pounds) exclusive of VAT. A purchase at RICHARD NOBLE corporate information and FG Burnett will this price reflects a net initial yield of 5.75% t: 01224 597528 undertake the necessary ‘Know Your Client’ after allowing for purchasers costs. e: [email protected] identity checks, to satisfy AML requirements when Heads of Terms are agreed.

Disclaimer. Whilst every care has been taken in the preparation of these particulars and they are believed to be correct, they are not warranted and should not be taken to form part of any contract. Any purchaser or lessee should satisfy themselves as to the correctness of each of the statements contained in these particulars. The owner of the property does not make or give and neither the agents nor any person in their employment has any authority to make or give any representation or warranty in relation to the property described in these particulars. March 2021