PRIME INVESTMENT LET TO BARCLAYS BANK PLC AND GREGGS PLC

69-71 ALBION STREET i LS1 5AA • Prestigious Barclays Bank flagship banking hall and recently • Leeds is one of the largest regional centres in the UK, INVESTMENT refurbished Greggs retail kiosk on Albion Street, one of and the commercial centre for Yorkshire and Northern Leeds prime retail locations, close to the heart of Leeds England SUMMARY commercial centre, and the highly successful Trinity Leeds Shopping Centre • 100% of the income secured on excellent PLC covenants.

• Offers in excess of £8.1 m • 90% of income secured to Barclays Bank PLC for 8.5 years.

• Net initial yield of 5.85% after allowing for purchases costs • Building provides 1,315 m2 (14,156 ft2) net accommodation of 5.8% DRIVE TIMES

Newcastle 1hr 45mins

LEEDS 1hr 20mins

Nottingham 1hr 15mins

Birmingham 2hrs

London (M25) 3hrs 30mins

Leeds is one of the largest regional centres and the second The City sits to the northern end of the M1 motorway, providing LOCATION largest financial centre in the country. As the North’s regional direct access to . It is also linked to the M62 motorway centre, many private and public corporations house their giving access to the M6 and the conurbation. regional headquarters in the city including First Direct Bank and The M1 links with the A1 North to give direct access Direct Line Insurance. to the Northeast and Scotland.

In addition the City of Leeds is home to two universities. Leeds is on a direct rail link to London, running at approximately 30 minute intervals and a fastest journey time of approximately The population of the city is in excess of 750,000. 2 hours.

Leeds is located approximately 200 miles north of London and benefits from easy access to Manchester which is 35 miles away and approximately 100 miles to the North East. The retail market in Leeds one of the strongest in the country. THE RETAIL The primary shopping catchment is 1,480,000 (PROMIS) ranking the City third in the UK by this measure and 4th out of PROMIS MARKET centres. The student population is estimated to be 60,000.

John Lewis will open soon in Hammersons new Victoria Gate Shopping Centre which will add to the current major anchor offer of Marks and Spencer, House of Fraser and . SITUATION

The property is located to the southern end of Albion Street close to retailers such as Superdrug, Sassoon Salon, P Sainsbury, Starbucks and Clinton Cards as well as being in close proximity to the professional quarter.

The successful £350m Trinity Leeds Shopping Centre is located just to the south of the subject property. The Centre which houses such names as M&S, H&M, Next, Apple and Mango provides around 1 million square feet of shopping and leisure within 120 shops and restaurants.

Close by professional occupiers include Natwest, HSBC, Allie Irish Bank, Pincent Mason, RBS, Scottish Life, Deloitte, & N M Rothschild. P DESCRIPTION

The property comprises a mid-terraced head quarters landmark building with feature granite finish. ACCOMMODATION

The property provides the following approximate floor areas

69 Albion Street: 71 Albion Street: Sales: 389.25 m2 (4,190 ft2) GF Sales (All Zone A): 22.43 m2 (241 ft2) Ground floor Sales ITZA: 152.27m2 (1,639 ft2) First Floor: 18.97 m2 (204 ft2) First Floor: 392 m2 (4,216 ft2) Total Net Internal Area: 41.4 m2 (446 ft2) Second Floor: 398 m2 (4,287 ft2) Third Floor: 94.5 m2 (1,018 ft2) Total Net Internal Area: 1,274 m2 (13,710 ft2) VAT It is anticipated the sale will be treated as a transfer of going TENANCY concern (TOGC). The property has been elected for VAT and therefore VAT will be payable on the purchase price

EPC Address Tenant Lease Term Lease start date Rent Review Tenants Break Option Rent pa Rating C 69 Albion Street Barclays Bank PLC 15 years 12/01/09 5 yearly none £450,000 Full documentation available for inspection on request. 71 Albion Street Greggs PLC 15 years 07/10/08 5 yearly After 10 years £50,000 PROPOSAL Offers in excess of £8.1m showing a net initial yield of 5.85% COVENANT INFORMATION after allowing for purchaser’s costs of 5.8%. Barclays Bank PLC is quoted on both the London and New York stock exchanges and is one of the UK’s largest companies within the FTSE 100. FURTHER INFORMATION For general enquiries please contact Fergus Laird on DDi 0191 232 7030 or email: [email protected] The most recent accounts for Barclays Bank show the following (figures in £1000’s):

Key Financials Turnover Pre-Tax Profit Networth 2014 30,060,000 2,309,000 55,614,000 2013 33,293,000 2,885,000 53,324,000 2012 54,291,000 650,000 49,152,000

GREGGS PLC Greggs is the leading bakery food on the go retailer in the UK and have been trading for over 75 years. They currently oporate from in excess 1650 shops around the UK. They are well respected by the financial institutions and have a credit safe rating of 93A – very low risk, most recent accounts for Greggs PLC show the following (figures in £1000’s):

Key Financials Turnover Pre-Tax Profit Networth 2014 803,961 49,743 249,005 2013 762,379 33,152 242,661 Misrepresentation act 2012 734,502 52,362 226,646 This property is offered subject to contract, availability and confirmation of details. These particulars do not form any contract and, whilst believed to be correct, parties are recommended to satisfy themselves as to their accuracy. The vendors, lessors or Naylors, or any person in their employment, cannot make or give any representation or warranty whatsoever in relation to this property. Unless otherwise stated, all prices and rentals quoted are exclusive of any Value Added Tax to which they maybe subject. Feb 2016