ARUNDEL G TE SHEFFIELD S 1 2 P N LANDMARK MIXED USE INVESTMENT WAULT OF 36 YEARS TERM CERTAIN WITH INDEX LINKED OR FIXED RENTAL UPLIFTS UNIQUE OPPORTUNITY TO ACQUIRE A LANDMARK SCHEME IN THE HEART OF SHEFFIELD ARUNDEL G TE MOOR MARKET HEART OF THE CITY II HEART OF THE CITY I FARGATE CRUCIBLE & LYCEUM DIGITAL CAMPUS 73,000 sqft indoor market home Under construction mixed use A £130 million mixed use prime Theatres The new Acero Building provides 80,000 sqft to over 90 independent traders development comprising 1.5 million sqft development completed in 2016 retail pitch of Grade A new office accommodation ARUNDEL G TE NEW ERA STUDENT DEVELOPMENT SHEFFIELD TOWN HALL SHEFFIELD STATION HS2 PONDS FORGE £67M China Town Development STUDENT HALLAM PEACE WINTER COMPLETION DUE 2026 SHEFFIELD INTERNATIONAL including China-UK Business Incubator ACCOMMODATION STUDENT UNION GARDENS GARDEN SUPERTRAM STOP BUS TERMINAL SPORTS CENTRE WAULT OF 36 YEARS TERM CERTAIN 97% LET TO THE STRONG COVENANTS OF NCP, ODEON CINEMAS, ACADEMY MUSIC GROUP WITH INDEX LINKED OR FIXED RENTAL UPLIFTS ARUNDEL G TE INVESTMENT CONSIDERATIONS ■ A unique opportunity to acquire a landmark ■ Large site area of 2.15 acres scheme in the heart of Sheffield, the fourth ■ Asset management opportunities with future largest city in England redevelopment potential ■ The property comprises a Multi-Storey Car ■ Freehold Park, 10 screen Odeon ‘Luxe’ Cinema (under ■ Offers are sought in excess of £34,800,000 refurbishment, completion December 2018) (Thirty Four Million, Eight Hundred Thousand and live music & events venues Pounds) after allowing for usual purchaser’s costs. ■ Multi let to 4 tenants with 97% let to the strong This reflects a net initial yield of 4.75% with an covenants of NCP, Odeon and Academy Music equivalent yield of 6.40% and reversion as follows: Group with index linked or fixed rental uplifts ■ Anchored by a 672 space Car Park operated by Year Running Yield Year Running Yield National Car Parks Limited with an unexpired term 2019 4.82% 2024 5.49% of 49 years and annual 2.5% fixed rental uplifts 2020 4.89% 2025 5.57% ■ WAULT of 36 Years term certain 2021 4.96% 2026 5.65% ■ Most centrally and strategically located Car Park 2022 5.03% 2027 5.73% in Sheffield in close proximity to Sheffield Hallam University, Crucible Theatre, The Lyceum and 2023 5.42% 2028 6.06% Sheffield Institute of Arts Gallery ■ Total passing rent of £1,764,553 per annum ■ The property has an area of 96,365 sq ft (8,957.6 sq m) excluding the car park ■ Low rental levels CGI for indicative purposes only. Odeon and external areas undergoing refurbishment, completion due 2018. ARUNDEL G TE ARUNDEL G TE INVESTMENT RATIONALE % OF INCOME BY LEASE LENGTH % OF INCOME BY TENANT YIELD PROFILE 6.50% 15+ 6.00% yrs 5.50% 40+ yrs 5.00% 24+ 4.50% yrs 4.00% Running Yield 3.50% 20192020 2021 2022 2023 2024 2025 2026 2027 2028 ASSET MANAGEMENT & DEVELOPMENT INITIATIVES GRADE A OFFICE REDEVELOPMENT STUDENT ACCOMMODATION There are a number of both short and long term asset management and redevelopment opportunities. Prime city centre Grade A office supply is constrained with only 110,000 sqft Sheffield benefits from a large student population of over 60,000 available at the end of Q1 2018, the lowest level on record for the city. across two universities. There is a lack of supply of city centre In the short term, there is scope to develop and improve student accommodation and many students are living on the the outdoor space on the site. Once complete, the Notable transactions that completed in Q1 2018 included Spaces’ outskirts of town. area could host an array of occupiers, for example, 25,000 sqft letting at Acero Works and the Home Office’s relocation food operators, pop up stores and/or street vendors to 21,000 sq ft at Foundry House. Prime headline rents have reached The proximity of this site to the University campus and the fact that subject to planning. £24.50 psf. The continued diminishing supply coupled with strong it is located within the city centre means that it may lend itself to occupier demand has resulted in an increase in rents across all grades. redevelopment by way of student accommodation. In the long term this gateway site may lend itself to a variety of different uses subject to planning: EXTENSION OF SHEFFIELD HALLAM UNIVERSITY RESIDENTIAL DEVELOPMENT The property is situated adjacent to the Sheffield Hallam University Due to the city centre location, proximity to transport networks as and could accommodate a potential extension of their campus. well as demand for city centre residential units, the site could lend itself to residential development. ARUNDEL SHEFFIELD G TE Sheffield is the commercial, administrative and retail centre of South Yorkshire. The city is located 91 miles (146 km) north east of Birmingham, 167 miles (268 km) north of London, 38 miles (61 km) east of Manchester and 36 miles (58 km) south of Leeds. NEWCASTLE UPON TYNE ● A1(M) ARUNDEL M6 G TE A1(M) YORK ● The city benefits from excellent road communications with LEEDS BLACKPOOL ● the M1 junctions 33 and 34 located approximately 4 miles ● M55 M56 HULL (6.5km) to the east of the city centre. The M1 provides access ● M62 to Leeds to the north, Nottingham and London to the south. M61 MANCHESTER M1 M18 GRIMSBY M180 ● The M18 is accessed at junction 32 of the M1 and offers access to the A1(M) ● and M62. The A57 runs directly through Sheffield offering routes west towards LIVERPOOL Piccadilly SHEFFIELD Manchester and east towards Lincoln. Over the next 5 years £2 bn is to be ● invested into the road network. M56 Manchester SKEGNESS Sheffield benefits from a centrally located mainline rail station which provides LINCOLN ● International ● regular services to London St Pancras International, Manchester Piccadilly and Airport Leeds. HS2 is due to complete in 2026 and will further enhance Sheffield’s rail M1 connectivity offering more routes and significantly cutting travel times. M6 BOSTON NOTTINGHAM ● Connectivity is excellent within the city centre with regular bus stations and a ● light rail tram system which operates throughout the city with over 12 million LOUGHBOROUGH journeys made per year. ● NORWICH M42 LEICESTER ● ● PETERBOROUGH ● BIRMINGHAM A1(M) ● M6 CONNECTED NORTHAMPTON BURY ST M5 ● CAMBRIDGE EDMUNDS ● ● M1 BEDFORD ROAD AIR WORCESTER ● ● MILTON KEYNES M6 ● A1(M) Destination Distance Airports Distance M50 London 167 miles Doncaster Sheffield International 25 miles HEMEL CHELMSFORD HEMPSTEAD ● Manchester 38 miles Manchester International 39 miles OXFORD ● ● M25 Leeds 36 miles London Luton International 140 miles SWANSEA M48 ● St Pancras International M4 M4 CARDIFF RAIL ● M32 LONDON BRISTOL BATH M2 Destination Journey Time Proposed Travel ● ● M25 Times MAIDSTONE M20 M5 M3 ● London St Pancras International 2 hrs 7 minutes 87 minutes M23 FOLKSTONE ● Manchester Piccadilly 51 minutes - Leeds 39 minutes - M27 ● SOUTHAMPTON Birmingham New Street 1hr 32 minutes 42 minutes A3(M) BRIGHTON ● ● EXETER PORTSMOUTH ● WEYMOUTH ● PLYMOUTH ● TRURO ● PENZANCE FALMOUTH ● ● ARUNDEL G TE SUBJECT PROPERTY SHEFFIELD IS ENGLAND’S FOURTH LARGEST CITY WITH A POPULATION OF 1,855,300 Kelham ARUNDEL ALMA STREET River Don SITUATION NURSERY STREET G TE GIBRALTER STREET Wicker DEREK DOOLEY WAY RIVERSIDE SCOTLAND STREET WEST BAR CASTLEGATE ST VINCENT’S BANK STREET QUARTER QUARTER Situated on the eastern side of Arundel TENTER STREET SHEFFIELD PARKWAY Gate, the property is prominently CATHEDRAL positioned in the heart of the town COMMERCIAL STREET centre, opposite the Crucible and QUARTER Lyceum Theatres, adjacent to Sheffield Hallam University. Arundel Gate is a main BROAD LANE CHURCH STREET thoroughfare in the city and links to both SHEAF the High Street and the A61BROOK ring HILLroad. VALLEY POND STREET QUARTER B6070 The property benefits from being situated QUARTER approximately 150 metres south east of Sheffield Winter Gardens a popular tourist destination where HEART over 2,000 specimens of plants are displayed. Set SOUTH STREET just to the rear of the Winter Gardens is Sheffield’s OF THE Central Business District where prime office rents SHEAF STREET haveGLOSSOP reached approximately ROAD £24.50 psf. CITY The main retail pitch in SheffieldUPPER HANOVER ST is Fargate, which is situated approximately 200 metres west of the property and comprises many national occupiers DIVISION STREET WILKINSONincluding Topshop, STREET Marks & Spencer, Next, H&M, Carphone Warehouse, Pandora and Starbucks. The property is situated 300 metres north west of DEVONSHIRE Sheffield mainline train station, the main transport hub for the city. Arundel Gate Interchange Bus QUARTER ARUNDELCULTURAL GATE Station is located just outside the property. FUNRIVAL GATE INDUSTRIAL The surrounding area has an established leisure, NORFOLK ROAD culture and entertainment offering with many QUARTER galleries and performance theatres in the THE immediate vicinity. MOOR FUNRIVAL ST CITY ROAD TENURE Freehold HANOVER WAY CHARTER ROW EYRE ST MALTIDA STREET A6135 ST MARY’S ROAD ST MARY’S GATE NORFOLK PARK ROAD Norfolk Park Fields ARUNDEL G TE SHEFFIELD ATTRACTS MAJOR EMPLOYERS DUE TO A STRONG SPECIALIST ADVANCED MANUFACTURING TALENT POOL & GROWING DIGITAL ECONOMY Student population Sheffield City in excess of £22 MILLION invested in digital Region economy 60,000 worth approximately infrastructure across two world since 2015 £30BN renowned universities Population Sheffield is a popular in excess of 20,000+ tourist destination with 1.5 MILLION Businesses located an estimated in Sheffield in Sheffield 20 MILLION Metropolitan District City Centre visitors per annum MAJOR EMPLOYERS INCLUDE: A NEW £20 MILLION A NEW £50 MILLION MCLAREN A NEW £90 MILLION FABRICATION FACILITY COMPOSITES TECHNOLOGY CENTRE GRADE A OFFICE The proposed 66,700 sqft Boeing Sheffield facility will The facility is based at the Advanced Manufacturing Innovation District.