Prime Retail Investment let to Boots with Redevelopment Potential MAIDENHEAD - 54-56 HIGH STREET

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2 MAIDENHEAD - 54-56 HIGH STREET Maidenhead is a prosperous Thames Valley town which is set to town which Thames Valley is a prosperous Maidenhead this year of Crossrail later the opening substantially from benefit property Large freehold prime retail pitch Located in the 100% floorspace Well configured a lease expiring in September 2021 Let to Boots on store in the town The only Boots opportunity Potential redevelopment costs after purchaser’s , a NIY of 8% Quoting £4,925,000 £138 psf which compares just to equates price The quoting at £675-700 sales of offices in Maidenhead favourably to recent at £550 - 600 psf psf and residential • • • • • • • • • INVESTMENT SUMMARY SUMMARY INVESTMENT Fawcett Mead

3 MAIDENHEAD - 54-56 HIGH STREET to Shenfield Romford Heath Chadwell Goodmayes Kings Seven Ilford Abbey Wood Park Manor Woolwich Gate Forest House Custom Maryland Stratford Canary Wharf eet Whitechapel Liverpool Str Maidenhead Railway Station provides frequent services to London Paddington London to services frequent provides Station Railway Maidenhead with a fastest journey time of 40 minutes and the connections to London will be significantly enhanced with the opening of Crossrail at Maidenhead Station later this year, which will lead to an estimated journey time of 41 minutes to Street and 55 minutes to Canary Wharf. Bond Street, 48 minutes to Liverpool It is forecast that the arrival of CrossrailIt is forecast that the boost towill provide a significant Maidenhead’s economy. Farringdon eet Tottenham Court Road A22 Bond Str A503 A1 A23 A214 Paddington A217 LONDON A24 A205 A406 A240 A40 Acton A3 Main Line A243 A4 A40 A3 Ealing Broadway A41 A30 West Ealing A355 Hanwell A413 A413 A331 Southall

A404 ow Airport ow Maidenhead A4010 Hayes &

Harlington Heathr A33 West Reading Drayton Slough A40 A4142 A339 Burnham A34 Oxford A34 ROUTE MAP A420 A34 Maidenhead The town benefits from excellent road links and is 1.5 miles north of Junction 8/9 of the M4, 6 miles south of Junction 4 of the M40 M25. and 13 miles from Junction 15 of the Twyford Reading west of Slough. Maidenhead is a prosperous commercial centre located in the Thames centre located in the Thames Maidenhead is a prosperous commercial miles 7 and Reading of east north miles 7 London, of west miles 30 Valley, LOCATION Fawcett Mead

4 MAIDENHEAD - 54-56 HIGH STREET Maidenhead has an estimated 580,000 sq ft of retail floor and Street High pedestrianised the on centred is which space more secondary Nicholson Shopping Centre. This shopping centre was sold last year and the new owner is planning to undertake a substantial mixed use redevelopment which is likely to significantly boost the strength of Maidenhead as a needing retailers of number a to leading also whilst centre retail to be relocated. RETAILING IN MAIDENHEAD RETAILING chosen Maidenhead to house their UK headquarters including; Hutchison 3G, Rank Leisure, Rank 3G, Hutchison including; headquarters UK their house to Maidenhead chosen Abbott Laboratories and FM Global. Over coming years it is estimated that approximately £1bn will to be invested in the town the in invested be to will £1bn approximately that estimated is it years coming Over have employers major Many sectors. private and public the both from regeneration centre is ranked the third most affluent in the UK by PMA. The town has well aboveper average capita retail spending levels and employment growth over the period 2012-2031 is the UK average. is significantly above predicted to be 1.5% per annum, which DEMOGRAPHIC AND ECONOMIC PROFILE AND ECONOMIC DEMOGRAPHIC population its and people 92,000 approximately of population catchment a has Maidenhead Fawcett Mead

5 MAIDENHEAD - 54-56 HIGH STREET Maidenhead Golf Club more than This 132 acre development will deliver secondary and primary new as as well homes 2,000 schools, shops, healthcare and sports facilities. Approximately 30% of the new homes will be affordable, with 60% of the land to be developed is development The space. green be to rest the and train and centre town the of distance walking within surrender to due are Club Golf Maidenhead station. their lease between May 2019 – May 2023 for the development to begin. The Landing The site is located between The Broadway, King pound multimillion a is and Street Queen and Street 140,000 homes, 520 circa comprise to due project sq ft of office accommodation and 41,000 sq ft of flexibleretail, office, leisure and community encourage to designed is development The space. new a creating by Maidenhead in investment further between connectivity improving and square public Maidenhead train station, Nicholsons Shopping Centre and High Street. Construction has already 2022. begun, with full completion by summer Nicholsons Multi Storey Car Park Car Nicholsons Multi Storey The Royal Borough of Windsor and Maidenhead are moving forward with plans to view demolish a with Centre, Shopping Nicholsons adjoining parking car story multi their redevelop and spaces. provide 1,333 parking to starting on site in mid-2020. The £35m development will Royal Borough Development Partnership Development Borough Royal Borough of Windsor and Maidenhead & Countryside to redevelop four sites across Maidenhead town centre as part of the town centre regeneration programme. The are and hectares 15.5 of total a cover developments four use with a residential focus. proposed to be mixed A Joint Venture has been created between the Royal Maidenhead town centre is expected to undergo substantial investment over the coming years, with the aim of reviving the character of the town. The focus is to is focus The town. the of character the reviving of aim the with years, coming the over investment substantial undergo to expected is centre town and Maidenhead buildings landmark construct space; green more introduce developments; use mixed promoting offices and leisure retail, new with centre town the regenerate follows: as are developments proposed Current growth. economic increase to accessibility centre town optimising streets; friendly cycle and pedestrian provide DEVELOPMENTS IN MAIDENHEAD IN DEVELOPMENTS development is a 6 minute walk to the east of the subject the of east the to walk minute 6 a is development property. This is a three phase development by Shanly Homes which Homes Shanly by development phase three a is This 1 Phases Project. Restoration Waterways the of part forms The Picturehouse andand 2 have both completed, named Chapel Wharf respectively. Work has now begun on the in complete to due is which Plaza, Waterside phase, final apartments new 166 host to set is Plaza Waterside 2021. with approximately 14,000 sq ft of A3 floor space. The Chapel Arches Chapel Arches Fawcett Mead

6 MAIDENHEAD - 54-56 HIGH STREET RESIDENTIAL MARKET IN MAIDENHEAD RESIDENTIAL Maidenhead town centre regeneration and Crossrail have attributed to a 21.8% increase in property in prices in two years from July 2016 and June Picturehouse, Berkshire 2018. House and Chapel Wharf The have been recent additions to the town centre’s residential accommodation, with The Landing and Waterside town the in apartments bed two and one for prices sales Current follow. to Plaza per square foot. centre are in the region of £550-600 Valley region, where rents of circa £40 psf have recently been achieved, making it making achieved, been recently have psf £40 circa of rents where region, Valley offices for values Capital locations. office Valley Thames value highest the of one square foot. Centre are circa £675-700 per in Maidenhead Town Maidenhead Maidenhead is considered one of the strongest office markets in the South East. It is a core South East office market andhas attracted FM 3G, Hutchinson a for; offices headquarter numberUK providing occupiers, international of ‘blue chip’ include occupiers centre town Other Laboratories. Abbott and Leisure Rank Global, Systems and Blackberry. Maersk Line, Adobe activity leasing and developments office own its from benefitted has Maidenhead Thames the in Reading to competition considered be to able be to years recent in OFFICE MARKET IN MAIDENHEAD MARKET OFFICE Fawcett Mead

7 MAIDENHEAD - 54-56 HIGH STREET . This is the only Boots store in Maidenhead and it has both a and it has both a This is the only Boots store in Maidenhead pharmacy and a Boots Opticians. The property has extensive frontage to High Street and Market be useful if it was ever redeveloped. Street which would spaces. parking car 15 has which yard, loading rear large a is There clear, open plan sales Internally, the property comprises used are floors first and ground the of all Almost accommodation. on the second floor. for sales with ancillary floor space The property comprises a purpose built retail building constructed building retail built purpose a comprises property The a flat roof brick and tiled elevations and with a concrete frame, The property is located in the 100% prime retail pitch in Maidenhead, 100% prime retail is located in the The property adjacent to Marks & Spencer and opposite the the Nicholson Centre. Shopping DESCRIPTION SITUATION Fawcett Mead

8 MAIDENHEAD - 54-56 HIGH STREET 183 976 1,178 1,158 sq m 3,495 sq ft 1,974 12,681 12,466 10,509 37,360 Total Second Third Floor Ground First The current passing rent is £420,000 per annum. per £420,000 is rent passing current The 35 years from 29 September 1986 expiring 28 September 2021. The entire property is let to Boots UK Ltd on full repairing and insuring terms for a term of Freehold. TENANCY TENURE The property comprises the following approximate following the comprises property The areas: gross internal floor ACCOMMODATION opportunity Potential redevelopmentPotential Fawcett Mead

9 MAIDENHEAD - 54-56 HIGH STREET 31/08/2016 £523,000,000 £1,204,000,000 £6,876,000,000 31/08/2017 £498,000,000 £1,772,000,000 £6,948,000,000 31/08/2018 £398,000,000 £1,872,000,000 £6,790,000,000 is the UK’s largest pharmacy retailer and was established in 1849. They Shareholder’s Funds Pre-Tax Profit Turnover Boots UK Limited Limited UK Boots the country and employ 70,000 staff. operate from 2,500 stores throughout accounts: annual their in figures following the reported has company the years three past the In COVENANT COVENANT Fawcett Mead

10 MAIDENHEAD - 54-56 HIGH STREET Created By: Fawcettmead Experian Goad Plan Created: 01/07/2019 For more information on our products and services: For more information on our products and The only Boots store in the town www.experian.co.uk/goad | [email protected] | 0845 601 6011 www.experian.co.uk/goad | [email protected] d Maidenhea EPC The property has an EPC rating of C-70. 50 metres

Copyright and confidentiality Experian, 2019. © Crown copyright and database Copyright and confidentiality Experian, 2019. rights 2019. OS 100019885 as a Transfer of a Going Concern (TOGC). We understand that the property is elected for treated be will sale the that anticipated is It VAT. VAT Fawcett Mead

11 MAIDENHEAD - 54-56 HIGH STREET Nick Carvey [email protected] 020 7182 7493 07851 116 426 Craig Crawthorne Craig [email protected] 01179 732 502 0781 1141 407 FURTHER INFORMATION Bashford Richard [email protected] 01179 732 500 07774 619 204 (Four Million Nine Million (Four net initial yield of 8% net initial yield of after £4,925,000 £4,925,000 interest. A purchase at this level would level this at purchase A interest. reflect a 6.59%. at costs purchaser’s for allowing Hundred and Twenty Five Thousand Pounds), Subject to Contract freehold and client’s our for VAT of exclusive We are instructed to seek offers in the of region PROPOSAL y are expressly excluded from any contract. SUBJECT TO CONTRACT Misrepresentation Act: The particulars in this brochure are believed to be correct, but accuracy cannot be guaranteed and the Designed by Graphic Outlines Ltd 2019