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Former Robin Hood Public House Kirklington Road/Southwell Road East, Rainworth, Nottinghamshire NG21 0AE

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Former Robin Hood Public House Kirklington Road/Southwell Road East, Rainworth, Nottinghamshire NG21 0AE TESCO INVESTMENT INCLUDING VACANT UPPER PARTS WITH DEVELOPMENT POTENTIAL Former Robin Hood Public House Kirklington Road/Southwell Road East, Rainworth, Nottinghamshire NG21 0AE. Artist’s impression only. Actual details may vary. INVESTMENT SUMMARY • New Tesco convenience store. • 390.29 sq.m (4,201 sq.ft) unit on ground floor only. • New 20 year lease to Tesco Stores Limited (tenant break at year 10). • Rent to be £48,000 per annum (£11.42 per sq.ft ). • 5 yearly rent reviews with compounded RPI increases (collared at 1% and capped at 4%). • Undoubted 5A1 covenant. • Approximately 3,900 sq.ft of accommodation at first floor included within the sale offering development potential. • Proposal - £756,000 representing a net initial yield of 6%, after purchaser’s costs of 5.80%. LOCATION Rainworth is a village lying approximately 15 miles to the north of Nottingham, 3 ½ miles south east of Mansfield and 28 miles south east of Sheffield. The subject property occupies an extremely prominent, raised site at the junction of Kirklington Road and Southwell Road East in the heart of the village. There are several new large scale residential developments being undertaken in the area. DEVELOPMENT Tesco The property will comprise a comprehensively refurbished and extended former public house which will provide a Tesco unit to the ground floor totalling 390.29 sq.m (4,201 sq.ft). The store will have two points of access, one from the front of the property and also one from the car park to the rear. There will be a separate loading area to the rear. First Floor The first floor which will form part of the freehold sale has separate access from the rear of the property. Plans have been drawn up to create three, two bedroom apartments, with the total gross internal area being approximately 3,900 sq.ft. Further information and plans are available on request. The first floor will be ouside the Tesco demise. The site extends to 0.36 acres (0.15 hectares) and will provide a large car park to the rear with 15 spaces including 2 disabled spaces. Planning for the development was granted on 16th February Artist impression of rear showing access to store and residential accommodation 2012 and Practical Completion of the development is anticipated to be on 1st July 2012. ADDITIONAL LAND Additional land is available by separate negotiation edged blue on the plan attached totalling 0.19 acres (0.08 hectares). Copyright KMB Ltd. Key: Do Not Scale This Drawing For Construction Purposes Ceiling Height CDM - Significant Design Hazards TENANCY 2.78m Clear Internal Height Hazard Control Existing Beam Height Tesco Stores Limited has signed an Agreement for Lease and on Practical Completion of theNew Internalunit Partitions they will commit to a new 20 year FRI lease on the ground floor. There is a tenant only break option on expiry of the 10th year of the lease, subject to six months notice. The initial rent will be £48,000 per annum (£11.42 per sq.ft overall). The rent will be increased 5 yearly on a compounded RPI basis. There will be a minimum collar to the reviews of 1% and a cap of BED 1 BED 2 Flat 3 3.42m 3.42m 4% per annum. The tenant has been granted a three month rent free period which will be covered LIVING/DINNING BED 1 2.78m BATH 2.78m Up 3.42m DINNING/KITCHEN LIVING 3.42m 3.42m by the vendor on completion. 3.42m STORE 3.42m STORE 2.75m BED 2 2.78m Flat 2 Up Based on conservative assumed annual RPI growth of 3% over the term of the lease the rent would STORE HALL KITCHEN 2.68m Flat Roof 2.75m 2.71m increase to: BED 1 BED 2 2.68m 2.78m PROVISIONAL LAYOUT SUBJECT TO Year 6-10 - £55,645 Up STRUCTURAL SURVEY BATH Flat 1 2.68m Up Year 11-15 - £64,508 LIVING Hall 2.78m Beam 2.39m A 18.08.11 PROPOSED EXTENSION REMOVED & RM DF AMENDMENTS TO INTERNAL LAYOUT BATH Rev Date Description Drawn Checked 2.43m WC Amendments KITCHEN/DINNING Drawing Status Up TENURE 2.68m Preliminary Flat Roof Freehold. Unable to gain access Indicative layout of first floor COVENANT Tesco trade from approximately 2,200 stores and is the world’s third largest grocery chain and the Quantity Surveying Architecture largest in the UK. For the year ended February 2011 reported a turnover of £64.6 billion, pre-tax Project Management Construction Safety PROJECT ROBIN HOOD CONTACTS RIANWORTH profits of £3.8 billion and total assets of £19.2 billion. NG21 0AE For further information or to arrange an CLIENT MARSTONS ESTATES LTD TITLE PROPOSAL inspection please contact: FIRST FLOOR GENERAL ARRANGEMENT SCALE DATE 1:100 @ A1 AUGUST 2011 We are instructed to seek offers in excess of £756,000 (Seven Hundred and Fifty Six Thousand DRAWN BY CHECKED BY DRAWING No. REV RM DF 3026-12 A Sliding scale @ A1 The Old Bake House, Kirton, Lincolnshire, PE20 1EH t: 01205 724016 f: 01205 724470 e: [email protected] Pounds) which reflects a net initial yield of 6%, based on purchaser’s costs of 5.80%. 0m 1m 2m 3m 4m 5m 6m 7m 8m 9m 10m For the avoidance of doubt this purchase price would be for the entire building and include the potential to develop / refurbish the upper floor accommodation. The addtional land edged blue is available by separate negotiation Assuming RPI growth of 3.0% per annum the return to an investor during the lease could increase to: Years 6-10 – 6.95% Years 11-15 – 8.07% Andrew Price VAT DD: 0121 513 0892 M: 07798 656 360 The property can not be dealt with by way of a TOGC and therefore VAT will be payable on the [email protected] purchase price. Misrepresentation Clause: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation Andrew Franck-Steier and other details contained herein are not guaranteed and are for general guidance only and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves of their accuracy. Neither Franck-Steier Price Ltd nor any of their DD: 0121 513 0891 employees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation M: 07798 647 640 to the property. Prices and rents quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it [email protected] is capable of fulfilling its intended function. .
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