LE10 2JQ

FORECOURT & CONVENIENCE STORE INVESTMENT LOCATED IN CLOSE PROXIMITY TO WITH AN UNEXPIRED TERM OF 17 YEARS FORECOURT & CONVENIENCE STORE INVESTMENT LOCATED IN CLOSE WATLING STREET, HINCKLEY, LE10 2JQ PROXIMITY TO M69 MOTORWAY WITH AN UNEXPIRED TERM OF 17 YEARS

INVESTMENT CONSIDERATIONS PROPOSAL

■ Strategically located Petrol Station Forecourt and foodstore, ■ Let until March 2038 with no break option - ■ We are instructed to seek offers in excess of 170 yards away from junction 1 of the M69 motorway unexpired term of 17 years £1,650,000 (One Million, Six Hundred and ■ Situated southbound on the busy A5 trunk road, being the ■ Let to Rontec Properties (No.4) Limited, Fifty Thousand Pounds) subject to contract final petrol station before the motorway guaranteed by Rontec Roadside Retail Limited and exclusive of VAT. A purchase at this level ■ Comprising of 2,342 sq ft of retail accommodation and Rontec Service Stations 1A reflects a Net Initial Yield of 5.75% rising and 8 petrol pumps, occupying a site of 0.34 acres ■ Additional guarantee by the undoubted covenant to 6.00% in June 2024 after allowing for ■ Located south of Hinckley town, 13 miles of Co-operative Group Food Limited until 2027 purchaser’s costs of 6.15%. from and ■ Estimated retail sales of £570,000 per annum and fuel volume ■ Producing an income of £100,814.76 per annum of 4.3m litres per annum subject to fixed annual uplifts of 2% ■ Freehold FORECOURT & CONVENIENCE STORE INVESTMENT LOCATED IN CLOSE WATLING STREET, HINCKLEY, LE10 2JQ PROXIMITY TO M69 MOTORWAY WITH AN UNEXPIRED TERM OF 17 YEARS

Stoke-on-Trent Newcastle-under-Lyme North (M6) North (M1) Sheffield Stoke on Trent, NOTTINGHAM Manchester, Liverpool LOCATION DERBY M1 Hinckley is the second largest town in , located at the midpoint between Leicester and Coventry approximately 13 miles M6 (21 km) south west of Leicester town centre, 13 miles (21 km) north east of Coventry town centre and 5 miles (8km) north east of . Burton upon Trent Midlands Airport The town is strategically located for logistics purposes, being at the heart of the motorway network system with excellent road connections in all directions and remains popular with occupiers like DPD, who recently completed their largest hub in Europe, to be located justShrewsbury north Cannock of Hinckley town. Immediately south of the town, the M69 acts as the main connecting route between the M1 and the M6. The A5 also runs Telford M54 LEICESTER directly to the south of the town and connects the M42 to both the M6 and M1. M42 Walsall provides regular services on the Cross County Line to Leicester Station (journey time, 19 minutes) and HINCKLEY Peterborough New Street station (journey time 40 minutes). Birmingham International Airport is located approximately 20 miles south east of Hinckley. West Bromwich A5 M69 BIRMINGHAM M6 M1 A1(M) M5 P Y Birmingham E H A International R H P D COVENTRY S A BRITANNIA Kidderminster E R R Airport BU A D PARK L D L R COVENTRY RO L W U F M42 G U A B R Y Y L ROA Coventry M45 O M40 NG D Airport

L A N Warwick E THREE POTS Worcester PARKStratford-upon-Avon South - Bristol South - London and South East E D AV Bedford TEA WS NE W E LBE

C

K

Hereford AVENU VE Milton RST A R BROCKHU U E Keynes G

B M50 Y

R M40 M1 O M5 A D A1(M) D A5 A

RO Y E LUTON GLOUCESTER WOLV Luton Airport

J1

M69

J1 A5 EY ROAD CKL HIN

COMMUNICATION

CAR TRAIN MAJOR ROADS

LEICESTER 13.9 miles 24 mins LEICESTER 19 mins M69 (Junction 1) 170 yds BIRMINGHAM 35 mins COVENTRY 13.8 miles 25 mins M6 (Junction 2) 6.6 miles LONDON EUSTON 100 mins BIRMINGHAM 31.8 miles 35 mins (VIA NUNEATON) M1 (Junction 21) 9.7 miles FORECOURT & CONVENIENCE STORE INVESTMENT LOCATED IN CLOSE WATLING STREET, HINCKLEY, LE10 2JQ PROXIMITY TO M69 MOTORWAY WITH AN UNEXPIRED TERM OF 17 YEARS

M69 MOTORWAY

© Crown Copyright, ES 100004106. For identification purposes only.

SITUATION The property is strategically positioned immediately adjacent to Junction 1 of the M69 Motorway, on the south side of the busy A5 trunk road. The surrounding area is semi-rural, thereby serving both transient and regular commuter trade. Being the last stop before the motorway, accessible from both lanes and open SITE AREA for 24 hours, this site is strategically placed relative to its competition. 0.34a (0.14 ha). FUEL VOLUME SHOP SALES The property is situated directly next door to Miller & Carter Steak House and the Hinckley Knight Public House, on the southern border of Hinckley town. DESCRIPTION The forecourt provides 8 pumps with customer parking and a medium sized Shop N’ Drive convenience store, open 24 hours a day with integral Costa PRIME LOGISTICS CONNECTIVITY Express and ATM facilities. The retail accommodation totals 2,342 sq ft, of which £570,000 DPD’s largest parcel hub in Europe, totalling 276,454 sq ft, is 1.7 miles north the sales area is approximately 1,423 sq ft. Additionally, there are 8 car parking 4.3m of the property located in Sketchley with an additional hub 1.6 miles south spaces creating an easily accessible retail store. litres* p.a. of the premises also demonstrating the prime location of the property The forecourt was constructed in the middle of the site allowing for HGVs in terms of far reaching road connectivity. Being the last stop before the and lorries to conveniently enter and exit the site without difficult manoeuvring. motorway combined with the heavy traffic flow onto nearby motorways provides a solid base for a competitive fuel station. TENURE Freehold.

*Source: Experian Catalist FORECOURT & CONVENIENCE STORE INVESTMENT LOCATED IN CLOSE WATLING STREET, HINCKLEY, LE10 2JQ PROXIMITY TO M69 MOTORWAY WITH AN UNEXPIRED TERM OF 17 YEARS

TENANCY The property is let in its entirety to Rontec Properties (No.4) Limited on a lease expiring on 20th March 2038 at a passing rent of £98,838 per annum. The rent will rise to £100,814.76 per annum in June 2021 and the vendor will top up to this level. The lease is subject to fixed annual increases of 2% every June and is guaranteed by Rontec Roadside Retail Limited. The rent is set to increase to £102,831.06 per annum in June 2022. There is a tenant’s guarantee by Co-Operative Foodstores Limited (32443R) and additionally, a guarantor’s guarantee by Cooperative Group Food Limited (26715R) until June 2027 or lease assignment. The property is let on a fully repairing and insuring lease and is excluded from the security provisions of the Landlord and Tenant Act 1954.

TENANT’S COVENANT

RONTEC ROADSIDE RETAIL LIMITED CO-OPERATIVE GROUP FOOD LIMITED Rontec Roadside Retail is one of the leading players in the UK revamp, all Rontec stations will be held up as brand champions for Co-Operative Group Food Limited is the controlling entity of the forecourt industry, operating 240 forecourts, making it the ninth Esso. Supported by a major TV advertising campaign, the stations food retailing division of the wider Co-Operative Group society. largest UK forecourt retailer, ahead of retailers including Esso will be at the very cutting edge of forecourt design, to raise The Covid Pandemic witnessed this division of the Co-op Group and Co-Op. The company was formed in June 2011 to acquire greater awareness and market penetration for the Esso brand. 5.2% grow and underlying Group Profits were boosted by the surge in the assets of Total Oil UK and is led by Gerald Ronson, a highly Food sales up Rontec Properties (No.4) Limited - Below Average Risk (80) sales of the food business. experienced fuel retailer and founder of Heron Service Stations since March 2020 lockdown in 1966, and its successor, Snax 24. 30 Sept 2019 30 Sept 2018 30 Sept 2017 The annual accounts for the last three years show the following: Rontec has remained acquisitive: in 2014, it purchased 36 stores Turnover £3,574,000 £3,931,000 £3,757,000 Cooperative Foodstores Limited (32443R) in South Wales and the South West of from Esso. A Pre-Tax Profit -£464,000 -£1,858,000 £8,547,000 4 Jan 2020 5 Jan 2019 6 Jan 2018 year later, it purchased a further 25 stores from Esso and BP in the South East of England. Rontec and Snax 24 then merged, Total Net Worth £3,973,000 £4,499,000 £6,716,000 Revenue £1,569,000,000 £1,577,700,000 £1,575,500,000 combining the operations and assets of those companies to Profit £83,400,000 £51,000,000 £41,100,000 trade under the Rontec name. In 2016, Rontec acquired a Rontec Roadside Retail Limited - Very Low Risk (100) Total Net Worth £447,300,000 £527,000,000 £521,000,000 package of 40 sites from the Co-Op and an additional 11 in 7.2% 2019 across England and Wales. 30 Sept 2019 30 Sept 2018 30 Sept 2017 Cooperative Group Food Limited (26715R) Food retail market share in July was highest for Turnover £1,292,192,000 £1,251,371,000 £1,229,857,000 In 2015, Esso launched their innovative Synergy programme. 5 Jan 2019 6 Jan 2018 31 Dec 2016 almost two decades Designed to promote a number of new fuels and refresh the Pre-Tax Profit- £68,074,000 £27,345,000 £27,883,000 Revenue £7,185,200,000 £6,940,200,000 £6,933,400,000 Esso brand, Synergy targets premium fuel purchasers and reflects Total Net Worth £502,795,000 £170,315,000 £126,845,000 a higher quality brand experience. As part of this global brand Profit £232,400,000 £247,600,000 £170,500,000 Total Net Worth £1,970,000,000 £1,875,100,000 £1,805,400,000

Turnover Operating from Net Worth £1.29bn £502m 260 sites 2019 in the UK FORECOURT & CONVENIENCE STORE INVESTMENT LOCATED IN CLOSE WATLING STREET, HINCKLEY, LE10 2JQ PROXIMITY TO M69 MOTORWAY WITH AN UNEXPIRED TERM OF 17 YEARS

UK FORECOURT CONVENIENCE MARKET

MODE A TRAVEL TO STORES STATISTICS DISTANCE TRAVELLED TO STORE

DRIVE THE AVERAGE SHOPPER VISITS THEIR LOCAL THAN 1 M FORECOURT MORE ILE THAN 1 71% 2.66 TIMES P/W LESS MILE S THAN ¼ M LES ILE

THAN 100 YA SS RD 41% LE S WALK/ON FOOT SPECIAL 19% OFFER SHOP 34% 25% ARE BUYING ON 59% 14% WALK/ON FOOT 59% 3% ARE FULL TIME WORKERS

PUBLIC AVERAGE TRANSPORT SPEND IS FORECOURT INVESTMENT MARKET Within the forecourt convenience market, demand for prime assets 1% £5.60 offering long leases to strong covenants remains particularly high. The market is one of only a few sectors where the occupiers remain active and are willing to agree 15 year plus occupational leases, with fixed or index-linked rent reviews. Due to the essential nature of these forecourts, they have remained open throughout the pandemic and benefitted from the additional business. Given the lack of prime stock providing these characteristics 50% available in the open market, forecourt convenience yields have OF CUSTOMERS PAY BY CASH hardened in the last 12 months. EPC EPC will be available upon request.

VAT The property is elected for VAT and it’s anticipated the transaction will be treated as a transfer of a going concern (TOGC).

ANTI-MONEY-LAUNDERING A successful bidder will be required to provide information to satisfy the AML requirements when Head of Terms are agreed.

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

PROPOSAL We are instructed to seek offers in excess of £1,650,000 (One Million, Six Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 5.75% rising to 6.00% in June 2024 after allowing for purchaser’s costs of 6.15%

For further information or to make arrangements for viewing please contact:

Gergo Petrovics Alex Butler 07961 234029 07801 219888 [email protected] [email protected]

allsop.co.uk

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. Design CommandD www.commandHQ.co.uk 03.21