Unique Residential and Commercial Portfolio Investment Opportunity Investment Summary

UNIQUE RESIDENTIAL AND COMMERCIAL PORTFOLIO INVESTMENT OPPORTUNITY INVESTMENT SUMMARY

A well diversified, mixed use property portfolio spread across Hampshire and Dorset

Well established and affluent locations: Poole, Bournemouth, Ringwood and New Milton

Residential, office and retail accommodation totalling approximately 2,921.34 sq m (31,445 sq ft) across 10 developments

A mixture of modern and recently refurbished buildings

All properties are either Freehold or long leasehold

Fully let by virtue of 31 ASTs and 11 commercial leases

Asset management opportunities and break-up potential

Total current rental income, allowing for various ground rents, is £468,784 per annum

Our client is seeking offers in excess of £8,300,000 (Eight Million, Three Hundred Thousand Pounds), subject to contract and exclusive of VAT, for the whole of the share capital of the UK registered company which holds the various property interests. A purchase at this level would reflect a Net Initial Yield of 5.52%, allowing for purchaser’s costs of 2.30%. A69 NEWCASTLE UPON TYNE HEXHAM

A68 A694 SUNDERLAND A693

A690

DURHAM A19 A68

A1(M) BISHOPS HARTLEPOOL AUCKLAND A689

A68 MIDDLESBROUGH BARNARD CASTLE DARLINGTON A66 A66 A19

M6 A585

BLACKPOOL M65 LEEDS M55 A59 BURNLEY BRADFORD A583 PRESTON A646 BLACKBURN HALIFAX M62 CASTLEFORD M65 A56 A59 M62

SOUTHPORT A666 HUDDERSFIELD M6 M61 M66 A570 BOLTON M62 A5758 WIGAN M58 M1 A628 MANCHESTER M6 M57 M62 M60 ROTHERHAM LIVERPOOL WARRINGTON PEAK DISTRICT SHEFFIELD NATIONAL PARK

M53 M56 A623

NORTHWICH MACCLESFIELD CHESTERFIELD LINCOLN A550 CHESTER M6 A53 A523 M1 MANSFIELD A6 A34 A515 A423 A534

A385 A46 STOKE-ON-TRENT A52 BOSTON NOTTINGHAM A515 DERBY

A453 A50 BURTON A53 UPON TRENT A46 MELTON A515 MOWBRAY KING’S LYNN M6 A38 M1 A41 SHREWSBURY M54 NORWICH M42 LEICESTER GREAT M6 Toll A444 DOWNHAM YARMOUTH A442 MARKET WOLVERHAMTON M69 PETERBOROUGH A49 A458

CORBY LOWESTOFT A458 BIRMINGHAM M6 M1 A1(M) THETFORD M5 M42 COVENTRY A141 A14 KETTERING KIDDERMINSTER RUGBY M42 A14 A46 M45 A49 A456 A508 A423 WELLINGBOROUGH A14 A449 A1 A14 A6 NEWMARKET A14

CAMBRIDGE NORTHAMPTON BEDFORD WORCESTER STRATFORD-UPON-AVON A5 PROPERTY LOCATIONS M40 A11 A46 M1 M11 IPSWICH 1. Units 1 - 4 & Flat 8, Bursledon House, Station Road,A429 5. Teal, 11 Lake View Manor, Lake Grove Road, 9. Wharf Mews, 11 Wharfdale Road, Westbourne, ST GEORGE’S CHANNEL SUDBURY New Milton BH25 6HT BANBURYNew Milton BH25 5NX MILTON A1 Bournemouth BH4 9BH HEREFORD A505 A44 KEYNES FELIXSTOWE M5 M1 A6 A470 2. Shanock House,M50 1 Ashley Road, 6. BrightWater House, Market Place, 10. Flat 1, Edward Court, 151 Richmond Park Road, A5 HARWICH A40 New Milton BH25 6BA Ringwood BH24 1AP Bournemouth BH8 8UA LUTON STEVENAGECharminster, STANSTED A44 M40 A120 A40 CHELTENHAM LUTON COLCHESTER 3. Flat 2, Parkland Place, 39-41 Old Milton Road, 7. Shepherd House, A41849-851 ChristchurchDUNSTABLE Road, A10 BRECON BEACONS GLOUCESTER A429 A1 (M) BISHOP’S CARMARTHEN NATIONAL PARK HERTFORD WARE STORTFORD A12 A470 New Milton BH25 6DJ Boscombe, BournemouthAYLESBUR BH7Y 6AJ HEMEL ST CLACTON-ON-SEA A48 ALBANS A483 A40 HEMPSTEAD CHELMSFORD A414 HARLOW OXFORD 4. Flat 6, Duplock House, Fernhill Lane, 8. Buffalo Mews & 7 Market Close, HATFIELD A414 CIRENCESTER New Milton BH25 5JJ Poole BH15 1NT AMERSHAM M25 A465 PONYTPOOL M5 M40 A12 LLANELLI A420 HIGH M1 M25 WYCOMBE M25 NORTH A449 A470 WATFORD SEA M48 SWANSEA PONTYPRIDD M4 A433 BASILDON NEWPORT SWINDON SOUTHEND-ON-SEA M4 A13 SWANSEA

M4 CARDIFF READING HEATHROW CHIPPENHAM LONDON MARGATE BRISTOL BRACKNELL A2 ROCHESTER A346 M4 M5 A38 NEWBURY A350 A322 CARDIFF BATH M20 CROYDON BRISTOL CHANN EL A33 M3 M2 A36 A343 A3 A37 M25 SEVENOAKS A338 BASINGSTOKE A24 MAIDSTONE REIGATE A22 M20 FARNHAM GUILDFORD M23 A303 A39 A361 DOVER MINEHEAD M5 A36 A303 GATWICK ASHFORD M3 ALTON A3 CRAWLEY ROYAL A31 FOLKESTONE A22 TUNBRIDGE BRIDGEWATER A26 WELLS A37 SALISBURY WINCHESTER A23 BARNSTAPLE A272 UCKFIELD TAUNTON A350 A36 A272 PETERSFIELD A354 SOUTHAMPTON WELLINGTON YEOVIL A338 SOUTHAMPTON M27 A3 (M) CHICHESTER HASTINGS RINGWOOD BROCKENHURST BRIGHTON NEWHAVEN A377 M5 BOURNEMOUTH INTERNATIONAL PORTSMOUTH EASTBOURNE E R NEWA338 MILTON (X5) O V A386 A354 D O F BOURNEMOUTH (X3) ENGLISH CHANN EL I T A30 DORCHESTER R A EXETER EXETER ISLE OF WIGHT S T POOLE LAUNCESTON A386 EXMOUTH DARTMOOR A380 NATIONAL PARK

A388 A38 TORQUAY A385 NEWQUAY

PLYMOUTH DARTMOUTH

PLYMOUTH

FALMOUTH ENGLISH CHANN EL 1. UNITS 1 - 4 & FLAT 8, BURSLEDON HOUSE, STATION ROAD, NEW MILTON BH25 6HT

LOCATION F E

R New Milton is a popular and bustling Hampshire market town, located NH

I L

on the edge of the New Forest National Park, and equidistant between

Lymington and Christchurch, which are approximately six miles to the . RD east and west, respectively. Bournemouth is located approximately 12 LEY ASH NEW MILTON miles west of New Milton, whilst Southampton is approximately 18 miles

to the north. Local roads connect with the A31, to the north of the town,

which in turn connects with the M27 and M3 motorways. New Milton S T rail station is situated on the principal route between London Waterloo AT EY RD. I O ASHL (1 hour 50 minutes) and Weymouth (1 hour 15 minutes), and the rail N

R journey times to Bournemouth and Southampton Central are 15 minutes D . and 25 minutes, respectively. Bournemouth International Airport is GORE RD. within a 21 minute drivetime from New Milton. D R

ON New Milton has a population of approximately 25,000 persons, and the LT D MI town holds a market every Wednesday. OL

SITUATION ACCOMMODATION Bursledon House is prominently situated in the centre of New Milton’s We are advised the subject property provides total accommodation of prime retailing street, Station Road, where a number of national occupiers approximately 450.86 sq m (4,853 sq ft). Please refer to the Portfolio are represented, including the adjacent Morrisons supermarket, Boots, Tenancy and Accommodation Schedule for further details. Specsavers, Superdrug, Costa, Barclays Bank, Nationwide Building Society, Halifax, Holland & Barrett, Santander, New Look, HSBC and TENURE Vision Express. Key local retailers represented on Station Road include, Bradbeers department store and Charles Nobel Jewellers. New Milton We understand Units 1 - 4 are held on a 999 year peppercorn lease rail station is conveniently located, less than five minutes’ walk north from 01/03/2004 and Flat 8 is held on a 125 year lease from 25/12/2003, of the subject property, and there is a Tesco superstore situated at the subject to a current ground rent of £600 per annum. Please refer to the south eastern edge of the town. Portfolio Tenancy and Accommodation Schedule for further details.

DESCRIPTION TENANCIES Bursledon House is an attractive and domineering, four storey, modern The four ground floor retail units are let to three tenants, providing a mixed use development, providing four retail units at ground floor combined income of £77,000 per annum exclusive. Flat 8 is let on an level, with 3 x two bedroom penthouses and 10 x two bedroom luxury AST, providing a rental income of £9,600 per annum. The total income, apartments, arranged over the first to third floor levels. It should be after allowing for the ground rent, therefore, is £86,000 per annum. noted that, from the residential element, only Flat 8 (two bedroom) forms Please refer to the Portfolio Tenancy and Accommodation Schedule for part of this sale. The residential element is fully lift serviced, and has a further details. separate, central, ground floor entrance from Station Road (videophone entry system). The development includes secure, ‘zapper’ accessed car PLANNING parking to the rear, via Spencer Road. The property is not Listed nor does it fall within a conservation area.

Internally, the retail units are fitted out to each tenant’s corporate style, with storage areas, staff welfare and WC facilities provided. Flat 8 is finished to a high standard throughout, with fitted kitchen and appliances, porcelain bathroom suites and double glazed window units. 2. SHANOCK HOUSE, 1 ASHLEY ROAD, NEW MILTON BH25 6BA

LOCATION F E

R New Milton is a popular and bustling Hampshire market town, located NH

I L

on the edge of the New Forest National Park, and equidistant between

to the north. Local roads connect with the A31, to the north of the town,

R journey times to Bournemouth and Southampton Central are 15 minutes D . and 25 minutes, respectively. Bournemouth International Airport is GORE RD. within a 21 minute drivetime from New Milton. D R

ON New Milton has a population of approximately 25,000 persons, and the LT D MI town holds a market every Wednesday. OL

SITUATION ACCOMMODATION Shanock House is situated in New Milton town centre, opposite the Town We are advised the subject property provides total accommodation of Hall building on Ashley Road and close to the junction with Station Road. approximately 611.67 sq m (6,584 sq ft). Please refer to the Portfolio The property is conveniently located, providing swift and easy access to Tenancy and Accommodation Schedule for further details. the main shopping facilities and amenities on Station Road, and New Milton rail station is approximately five minutes’ walking distance. TENURE Freehold. DESCRIPTION Shanock House is an attractive, four storey, modern mixed use TENANCIES development, providing two commercial units at ground floor level, with 8 x one bedroom and 2 x two bedroom luxury apartments, arranged The two ground floor commercial units are let to two tenants, providing over the first to third floor levels. There is external security lighting a combined income of £20,800 per annum exclusive. The residential and a landscaped rear garden area which incorporates secure cycle element is let by virtue of 10 ASTs, providing a combined income of storage facilities. The residential element is fully lift serviced, and has a £85,800 per annum. The total income, therefore, is £106,600 per annum. separate, central, ground floor entrance (personal key entry / telephone Please refer to the Portfolio Tenancy and Accommodation Schedule for security system), fronting the development’s communal residents car further details. parking area, off Ashley Road. PLANNING Internally, the ground floor commercial units are well configured and The property is not Listed nor does it fall within a conservation area. benefit from glazed display windows to the frontages, with storage areas, staff welfare and WC facilities provided within each unit. The residential units are finished to a high standard throughout, with fitted kitchens and appliances, master bedrooms with en-suite bathrooms, and in the case of the two third floor apartments (Nos. 9 and 10), generous second bedrooms. Double glazed window units are provided throughout. 3. FLAT 2, PARKLAND PLACE, 39-41 OLD MILTON ROAD, NEW MILTON BH25 6DJ

LOCATION F E

R New Milton is a popular and bustling Hampshire market town, located NH

I L

on the edge of the New Forest National Park, and equidistant between

to the north. Local roads connect with the A31, to the north of the town,

R journey times to Bournemouth and Southampton Central are 15 minutes D . and 25 minutes, respectively. Bournemouth International Airport is GORE RD. within a 21 minute drivetime from New Milton. D R

ON New Milton has a population of approximately 25,000 persons, and the LT D MI town holds a market every Wednesday. OL

SITUATION ACCOMMODATION Parkland Place is prominently situated in New Milton town centre, We are advised the subject property provides approximately 65.13 sq m opposite the main park and its recreation facilities, on Old Milton Road, (701 sq ft) gross internal area. Please refer to the Portfolio Tenancy and close to the junction with Station Road. The property is conveniently Accommodation Schedule for further details. located, providing swift and easy access to the main shopping facilities and amenities on Station Road, and New Milton rail station is TENURE approximately seven minutes’ walking distance. We understand the property is held on a 125 year lease from 25/12/2003, subject to a current ground rent of £600 per annum. Please refer to the DESCRIPTION Portfolio Tenancy and Accommodation Schedule for further details. Parkland Place is an attractive and prominent, four storey, modern mixed use development, providing six commercial units at ground floor TENANCY level, with 3 x three bedroom and 11 x two bedroom luxury apartments, arranged over the first to third floor levels. The residential element The property is let on an AST at a rental of £9,600 per annum. Allowing is gated and fully lift serviced, with a central, ground floor main front for the ground rent, the income is £9,000 per annum. Please refer to entrance from Old Milton Road (personal key entry / telephone security the Portfolio Tenancy and Accommodation Schedule for further details. system). The development includes secure residents and visitor car parking to the rear, accessed via Crossmead Avenue. It should be noted PLANNING that only Flat 2 (two bedroom) forms part of this sale. The property is not Listed nor does it fall within a conservation area.

Internally, Flat 2 is finished to a high standard throughout, with a specification which includes gas fired central heating, fitted bathroom suites, fitted kitchen and appliances, fitted wardrobes, a security alarm system and double glazed window units. 4. FLAT 6, DUPLOCK HOUSE, FERNHILL LANE, NEW MILTON BH25 5JJ

LOCATION F E

R New Milton is a popular and bustling Hampshire market town, located NH

I L

on the edge of the New Forest National Park, and equidistant between

to the north. Local roads connect with the A31, to the north of the town,

R journey times to Bournemouth and Southampton Central are 15 minutes D . and 25 minutes, respectively. Bournemouth International Airport is GORE RD. within a 21 minute drivetime from New Milton. D R

ON New Milton has a population of approximately 25,000 persons, and the LT D MI town holds a market every Wednesday. OL

SITUATION ACCOMMODATION Duplock House is prominently situated on the northern edge of New We are advised the subject property provides approximately 55.93 sq m Milton town centre, in an attractive residential area, fronting Fernhill (602 sq ft) gross internal area. Please refer to the Portfolio Tenancy and Lane; a continuation of Station Road. The main town centre shopping Accommodation Schedule for further details. facilities and amenities are within easy reach, and New Milton rail station is less than five minutes’ walk south of the subject property. TENURE We understand the property is held on a 125 year lease from 25/12/2003, DESCRIPTION subject to a current ground rent of £600 per annum. Please refer to the Duplock House is an attractive, modern three storey residential Portfolio Tenancy and Accommodation Schedule for further details. development, providing 8 x two bedroom luxury apartments. Access to the apartment block is via a private entrance, off Fernhill Lane, secured TENANCY by means of personal key entry and telephone security systems. The development includes rear car parking, accessed via a side driveway off The property is let on an AST at a rental of £9,480 per annum. Allowing Fernhill Lane, and each apartment has its own car parking space, six of for the ground rent, the income is £8,880 per annum. Please refer to which are beneath the cover of a car port. Cycle storage facilities are the Portfolio Tenancy and Accommodation Schedule for further details. also provided. It should be noted that only Flat 6 forms part of this sale. PLANNING Internally, Flat 6 is finished to a high standard throughout, with fitted The property is not Listed nor does it fall within a conservation area. kitchen and appliances, porcelain bathroom suite and double glazed window units. The master bedroom includes bespoke designed fitted wardrobes. 5. TEAL, 11 LAKE VIEW MANOR, LAKE GROVE ROAD, NEW MILTON BH25 5NX

LOCATION F E

R New Milton is a popular and bustling Hampshire market town, located NH

I L

on the edge of the New Forest National Park, and equidistant between

to the north. Local roads connect with the A31, to the north of the town,

R journey times to Bournemouth and Southampton Central are 15 minutes D . and 25 minutes, respectively. Bournemouth International Airport is GORE RD. within a 21 minute drivetime from New Milton. D R

ON New Milton has a population of approximately 25,000 persons, and the LT D MI town holds a market every Wednesday. OL

SITUATION ACCOMMODATION The Lake View Manor development is situated on the northern edge We are advised the subject property provides approximately 88.26 sq m of New Milton town centre, in an attractive residential area, opposite (950 sq ft) gross internal area. Please refer to the Portfolio Tenancy and Ballard Lake, on Lake Grove Road, at its junction with Fernhill Lane. Accommodation Schedule for further details. The main town centre shopping facilities and amenities are within easy reach, and New Milton rail station is six minutes’ walk south of the TENURE subject property. Share of freehold.

DESCRIPTION TENANCY Lake View Manor is an exclusive gated development, providing 12 luxury homes, with a secure entrance phone system. The development The property is let on an AST at a rental of £10,800 per annum. comprises: a five bedroom ‘Manor House’; ‘The Barn,’ is a three Please refer to the Portfolio Tenancy and Accommodation Schedule for bedroom house; ‘Pintail’ and ‘Teal’ Apartments, each providing two further details. bedrooms, are arranged over ground and first floor levels, respectively; ‘Coot’ and ‘Mallard’ Cottages, each providing two bedrooms; ‘Mandarin PLANNING Cottage’ provides three bedrooms; and the ‘Drake,’ ‘Pochard,’ ‘Signet,’ The property is not Listed nor does it fall within a conservation area. ‘Wigeon’ and ‘Gooseander’ Cottages, each provide two bedrooms. The development is attractively landscaped, and external garaging is provided for most homes, with additional residents and visitor car parking areas also within the grounds. It should be noted that only Teal apartment, No. 11 (two bedroom) forms part of this sale.

Internally, Teal apartment is finished to a high standard throughout, with a specification which includes gas fired central heating, fitted bathroom suites, fitted kitchen with a range of quality appliances, an individual security alarm system and double glazed window units. 6. BRIGHTWATER HOUSE, MARKET PLACE, RINGWOOD BH24 1AP

LOCATION 8 3 3 A Y R Ringwood is an attractive market town on the western edge of New Forest U B IS National Park, located approximately 12 miles north of Bournemouth, 22 L A S miles west of Southampton and 96 miles south west of London. The A31 town benefits from good communication links, being situated on the T H E A31; one of the major south coast arterial routes, with direct access to . F D U N R R PTO L AM

Southampton, the M27 and M3 motorways to the east, Bournemouth to O H N T

U G the south and Salisbury to the north, via the A338. O S

Ringwood has a population of approximately 14,500 persons. MA NSFIE LD

31 R A D

SITUATION . BrightWater House is situated opposite St Peter’s & St Paul’s Church, to the western end of Market Place, close to its junction with College Lane. The Waitrose foodstore anchored Furlong Shopping Centre, the additional retail and leisure amenities of Market Place / High Street, a Sainsbury’s foodstore and Ringwood Town Council offices, are all within a few minutes’ walk of the subject property. ACCOMMODATION We are advised the subject property provides total accommodation of DESCRIPTION approximately 363.90 sq m (3,917 sq ft) net internal area. Please refer to the Portfolio Tenancy and Accommodation Schedule for further details. The subject property comprises a main, three storey office building, and adjoining two storey building. The premises were refurbished in 2005, with central access from a car park and landscaped area. The car park TENURE provides 15 vehicle spaces for the building’s tenants. There is a separate Freehold. access to the rear of the building. TENANCIES Internally, the premises are divided into five office suites, arranged over The five office suites are let to four tenants, providing a combined income ground, first and second floor levels. Communal reception, meeting of £68,004 per annum exclusive, reflecting £17.36 per sq ft overall. room, staff welfare and WC facilities are provided. The basic specification Please refer to the Portfolio Tenancy and Accommodation Schedule for of the offices includes air conditioning and under-floor heating. further details.

PLANNING The property is not Listed but does fall within the Ringwood Conservation Area. 7. SHEPHERD HOUSE, 849-851 CHRISTCHURCH ROAD, BOSCOMBE, BOURNEMOUTH BH7 6AJ

LOCATION Bournemouth is an attractive coastal town and regional centre, located approximately five miles east of Poole, 30 miles south west of Southampton and 100 miles south west of London. The town has an POKESDOWN excellent transport communication network with the A338 connecting to both the M27 and M3 motorways, via the A31, and rail services provided to London Waterloo (1 hour 45 minutes). Bournemouth International SE A B Airport is located approximately four miles to the north of the town . OU RD H RN centre. URC E H R C D RIST . CH The total population for Bournemouth’s primary catchment area is approximately 442,000 persons, and the town is seeing above average growth in population over the period 2016-2021. The substantial primary catchment area extends into the New Forest, to the north, New Milton PARKWOO to the east and Poole to the west. The town also benefits from a large D RD. university with over 17,000 students.

SITUATION ACCOMMODATION Boscombe is a busy commercial and residential suburb of Bournemouth, We are advised the subject property provides total accommodation of approximately two miles east of the town centre. The subject property approximately 463.22 sq m (4,986 sq ft). Please refer to the Portfolio is situated on Christchurch Road, to the east of the Sovereign Shopping Tenancy and Accommodation Schedule for further details. Centre and approximately 100 metres west of Pokesdown rail station which provides direct services to London Waterloo (2 hours 10 minutes). TENURE Freehold. The property has a commercial frontage to Christchurch Road and a residential frontage to Colville Road, to the rear. Nearby occupiers on Christchurch Road include Kwik Fit, opposite, and a number of local and TENANCIES service retailers including The Glass Room, Artcetera and Walter James The two retail units are let to Euphoria Thai Massage (Unit 1) and Source Antiques. Colville Road, to the rear of the property, and providing access Drylining and Plastering Limited (Unit 2), providing a combined income to the apartments, is a residential street. of £12,460 per annum exclusive. The residential accommodation is let via six ASTs, providing a combined income of £49,980 per annum. DESCRIPTION The total income for the property is, therefore, £62,440 per annum. Please refer to the Portfolio Tenancy and Accommodation Schedule for The building is of modern construction, with accommodation arranged further details. over ground and two upper floors. The two ground floor retail units front Christchurch Road, with 4 x one bedroom and 2 x two bedroom apartments accessed separately from Colville Road and benefiting from PLANNING four vehicle spaces and cycle storage. The property is not Listed nor does it fall within a conservation area.

Internally, the retail units provide ground floor sales areas with storage and staff areas to the rear, and benefit from Class A1 and A2 use. The residential apartments are finished to a high standard, with gas central heating, full double glazing, fitted kitchens and appliances, carpeting throughout and curtains to the main rooms. The apartments have a communal telephone entry system and all have internal security alarm systems and smoke alarms. 8. BUFFALO MEWS & 7 MARKET CLOSE, POOLE BH15 1NT

LOCATION

D POOLE

R Poole is an affluent coastal town in Dorset, located approximately five GE Y A RID B miles west of Bournemouth, 36 miles south west of Southampton and B S E E AT 105 miles south west of London. Communications are excellent, with the L G O N H W town being served by the A35 trunk road; one of the main arterial routes

O T

along the south coast, linking to the A31 and on to the M27 motorway via

the A350. Poole rail station provides direct services to London Waterloo (approximately 2 hours) and Bournemouth International Airport is . ST located approximately nine miles to the east of the town. M A RS EST . W TON RD RD Y .

Poole has a population of approximately 150,600 persons. UA Q

T S E W SITUATION Market Close is a primarily residential street of Victorian housing, situated approximately 2 minutes’ walking distance from Poole “Old Town.” The “Old Town” is a well-known historic local area with a substantial amount of gentrification and a Georgian quay side with numerous historic buildings, shops and a thriving port and marina. ACCOMMODATION Poole’s main retail centre is only a few minutes’ drivetime north of the We are advised the seven houses provide total accommodation of subject property. approximately 579.44 sq m (6,237 sq ft) gross internal area. Please refer to the Portfolio Tenancy and Accommodation Schedule for further DESCRIPTION details. Buffalo Mews and 7 Market Close comprise a converted “Old Town” office building and new-build gated courtyard development. The completely TENURE walled development comprises 5 x two bedroom houses and 2 x three Freehold. bedroom houses with forecourt areas and approximately 10 private car parking spaces. TENANCIES The seven houses are currently let on ASTs, providing a combined The houses have been constructed to modern standards, with gas income of £77,940 per annum. Please refer to the Portfolio Tenancy and fired central heating, double glazing, fully fitted kitchens and carpeting Accommodation Schedule for further details. throughout. Most properties have a master bedroom with en-suite bathroom and some have an additional study or third bedroom. All properties have a fitted alarm system and smoke alarms. PLANNING The property is not Listed but does fall within the Poole Old Town Conservation Area. . 9. WHARF MEWS, 11 WHARFDALE ROAD, WESTBOURNE, BOURNEMOUTH BH4 9BH

LOCATION Bournemouth is an attractive coastal town and regional centre, UPPER GARDENS located approximately five miles east of Poole, 30 miles south west of A338 WESSEX WAY 8 Southampton and 100 miles south west of London. The town has an A33 W excellent transport communication network with the A338 connecting to ESSEX WAY both the M27 and M3 motorways, via the A31, and rail services provided to London Waterloo (1 hour 45 minutes). Bournemouth International

Airport is located approximately four miles to the north of the town THE SQUARE centre.

The total population for Bournemouth’s primary catchment area is approximately 442,000 persons, and the town is seeing above average growth in population over the period 2016-2021. The substantial primary catchment area extends into the New Forest, to the north, New Milton to the east and Poole to the west. The town also benefits from a large BOURNEMOUTH PIER university with over 17,000 students.

SITUATION ACCOMMODATION Wharf Mews is situated on Wharfdale Road, in the suburb of Westbourne. We are advised the subject property provides total accommodation Westbourne is approximately 1.25 miles north west of the town centre, of approximately 195.75 sq m (2,107 sq ft) gross internal area. with good access to the A338, and Bournemouth Central Gardens nearby. Please refer to the Portfolio Tenancy and Accommodation Schedule for further details. Wharfdale Road is primarily residential in use, with some commercial occupiers also represented in the vicinity, including a Safe Store self- TENURE storage facility, to the rear of the subject property. A substantial number Freehold. of new houses are currently being constructed, approximately 100 metres from the subject property. TENANCIES

DESCRIPTION The maisonette and two flats are let by way of three ASTs, providing a combined income of £30,720 per annum. Please refer to the Portfolio Wharf Mews is a modern development comprising three residential Tenancy and Accommodation Schedule for further details. properties; a ground floor, two bedroom maisonette with private rear garden, and 2 x two bedroom apartments arranged over the first and second floors. Four undercroft vehicle spaces with direct access from PLANNING Wharfdale Road, are located at ground floor level, to the front of the The property is not Listed nor does it fall within a conservation area. property. Access to the maisonette and flats is gained via a gated side entrance, with a security entry phone system. The property has been constructed to a high standard, with gas fired central heating, full double glazing, fitted kitchens and appliances, fitted bathrooms, and fully fitted carpets and curtains. All units have smoke alarms and security systems.

. 10. FLAT 1, EDWARD COURT, 151 RICHMOND PARK ROAD, CHARMINSTER, BOURNEMOUTH BH8 8UA

LOCATION Bournemouth is an attractive coastal town and regional centre, RICHMOND located approximately five miles east of Poole, 30 miles south west of PARK RD. Southampton and 100 miles south west of London. The town has an . excellent transport communication network with the A338 connecting to both the M27 and M3 motorways, via the A31, and rail services provided HARMINSTER RD to London Waterloo (1 hour 45 minutes). Bournemouth International C AY Airport is located approximately four miles to the north of the town W X SE centre. ES W

The total population for Bournemouth’s primary catchment area is 38 A3 approximately 442,000 persons, and the town is seeing above average growth in population over the period 2016-2021. The substantial primary catchment area extends into the New Forest, to the north, New Milton to the east and Poole to the west. The town also benefits from a large university with over 17,000 students. BOURNEMOUTH

SITUATION ACCOMMODATION The property forms part of a two block development of 16 flats (eight We are advised the subject property provides approximately 47.19 sq m flats in each block), on Richmond Park Road, in the leafy Bournemouth (508 sq ft) gross internal area. Please refer to the Portfolio Tenancy and suburb of Charminster. Richmond Park Road is a key traffic route Accommodation Schedule for further details. between the suburb of Winton and the main A338 dual carriageway. TENURE DESCRIPTION We understand the property is held on a 125 year lease from 25/12/2003, The property is of modern construction, with gas fired central heating, subject to a current ground rent of £600 per annum. Please refer to the fitted kitchen and appliances, carpeting throughout, and smoke and Portfolio Tenancy and Accommodation Schedule for further details. security alarm systems. Vehicular access to the rear car parking area (eight spaces), is directly off Richmond Park Road. There is a secure TENANCY communal side entrance to the eight flats in Edward Court, at ground floor level. Flat 1 (two bedroom) is located on the ground floor. The property is let on an AST at a rental of £9,000 per annum. Allowing for the ground rent, the income is £8,400 per annum. Please refer to the Portfolio Tenancy and Accommodation Schedule for further details.

PLANNING The property is not Listed nor does it fall within a conservation area. PORTFOLIO TENANCY & ACCOMMODATION SCHEDULE Lease Current Expiry Rent Rent A r e a Address Tenure Unit Tenant Trading Fascia Lease Start (Break) Review (£ p.a.) Floor (Sq ft) Comments 125 year lease from 25/12/2003. Current ground rent is £600 p.a. and is subject to review every 15 1. Bursledon House, Station years, to the higher of the current Flat 8 (2 bed) A Gould and M Gould 15/02/2019 14/08/2019 9,600 Second 882 AST. Road, New Milton BH25 6HT ground rent or 0.1% of the capital value. The next review date is 25/12/2033. Less -600 Ground Rent 999 year peppercorn lease from Pets Corner (UK) Lease includes the use of two Units 1 & 2 Pets Corner 10/11/2018 09/11/2028 35,500 Ground 1,980 01/03/2004. Limited car parking spaces. Rent payable monthly in advance. Three yearly upward Wessex Funeral only rent reviews based upon RPI Wessex Funeral 11/10/2028 Unit 3 Services (New 12/10/2018 12/10/2021 17,500 Ground 915 (uncapped). Tenant break option Services Limited (12/10/2024) Forest) Limited requires six months’ notice. Lease includes the use of one car parking space. A3 use. Lease assigned from Angela Thorn and A&T Enterprises Limited. Tenant has the option to surrender the 18/02/2038 lease between 28/03/2020 and Beatons Tea (19/02/2023) 29/06/2020, subject to three Unit 4 Scala Foods Limited Rooms & 31/10/2018 19/02/2021 24,000 Ground 1,076 (19/02/2028) months’ notice. Three yearly Bookshop (19/02/2033) upward only rent reviews based upon RPI (uncapped). Tenant break option requires three months’ notice. Lease includes the use of one car parking space.

Sub Total 86,000 4,853

2. Shanock House, 1 Ashley Freehold Flat 1 (1 bed) J Gudowska 08/04/2019 07/04/2020 8,520 First 420 AST. Road, New Milton BH25 6BA

Flat 2 (1 bed) S Bernstein 10/06/2019 09/06/2020 8,640 First 420 AST.

Flat 3 (1 bed) S Stone 21/03/2019 20/03/2020 8,520 First 420 AST.

AST. Renewal agreed wef Flat 4 (1 bed) O Hazeez 31/01/2019 30/07/2019 8,160 First 420 01/09/2019 at £8,400 p.a.

J Osmond and Flat 5 (1 bed) 02/02/2019 01/08/2019 8,160 Second 420 AST. O Pilley

N Granicz and Flat 6 (1 bed) 08/09/2018 07/09/2019 8,160 Second 420 AST. C Cluzan

Flat 7 (1 bed) R Rosher 01/12/2018 30/11/2019 8,100 Second 420 AST. Lease Current Expiry Rent Rent A r e a Address Tenure Unit Tenant Trading Fascia Lease Start (Break) Review (£ p.a.) Floor (Sq ft) Comments

2. Shanock House, 1 Ashley F Sinclair and Freehold Flat 8 (1 bed) 01/02/2019 31/07/2019 8,340 Second 420 AST. Road, New Milton BH25 6BA T Bowditch

Flat 9 (2 bed) C Woodley 17/04/2019 16/04/2020 9,780 Third 611 AST.

Flat 10 (2 bed) J Monserrate 15/12/2018 Periodic 9,420 Third 611 AST.

D1 use. Rent increases to £11,000 p.a. with effect from New Forest Dental New Forest Dental 01/08/2020 with no further Office 1 22/06/2010 21/06/2025 01/08/2020 10,400 Ground 998 Practice Limited Practice review. Lease includes the use of one car parking space and bicycle storage. D1 use. Rent increases to £11,000 p.a. with effect from Johann Ackerman The Ackerman 01/08/2020 with no further Office 2 22/06/2010 21/06/2025 01/08/2020 10,400 Ground 1,004 Limited Clinic review. Lease includes the use of one car parking space and bicycle storage.

Sub Total 106,600 6,584

125 year lease from 25/12/2003. Current ground rent is £600 p.a. 3. Parkland Place and is subject to review every 15 AST. Guarantor: Mr B Knight. 39-41 Old Milton Road, years, to the higher of the current Flat 2 (2 bed) A Knight 12/06/2018 Periodic 9,600 First 701 Renewal agreed wef 01/09/2019 New Milton BH25 6DJ ground rent or 0.1% of the capital at £10,200 p.a. value. The next review date is 25/12/2033. Less ground -600 rent

Sub Total 9,000 701

125 year lease from 25/12/2003. Current ground rent is £600 p.a. and is subject to review every 15 4. Duplock House, Fernhill C Strydom and AST. Lease includes the use of years, to the higher of the current Flat 6 (2 bed) 05/05/2019 04/05/2020 9,480 First 602 Lane, New Milton BH25 5JJ W Strydom one car parking space. ground rent or 0.1% of the capital value. The next review date is 25/12/2033. Less ground -600 rent

Sub Total 8,880 602

5. Lake View Manor, Lake No. 11 - Teal Grove Road, New Milton Freehold (Shared) L Bradley 04/05/2019 03/11/2019 10,800 First 950 AST. Apartment (2 bed) BH25 5NX

Sub Total 10,800 950 Lease Current Expiry Rent Rent A r e a Address Tenure Unit Tenant Trading Fascia Lease Start (Break) Review (£ p.a.) Floor (Sq ft) Comments

Upwards only rent review based upon RPI (uncapped). Rolling tenant break option effective 6. BrightWater House, Market Sea Sense 21/09/2022 Ground / from 22/09/2020, subject to six Freehold Suite 1 22/09/2017 22/09/2020 10,000 621 Place, Ringwood BH24 1AP Mortgages Limited (22/09/2020) First months' notice. Sections 24 to 28 of the LTA 1954 are excluded from this lease. Three car parking spaces included. Three yearly upward only rent reviews based upon RPI Thomas's London 31/05/2029 First / (uncapped). Six car parking Suites 2 & 3 01/06/2019 01/06/2022 32,000 1,539 Day Schools (31/05/2024) Second spaces included. Tenant break option requires six months' notice. External suite. Three car Suite 4 Datasim Limited 25/07/2018 24/07/2019 11,750 Ground 792 parking spaces included. Self contained. Tenant did not exercise break option effective BBS Consultants Elysium Ground / Suite 5 12/09/2017 11/09/2020 14,254 965 12/03/2019. Sections 24 to 28 of Limited Accountants First the LTA 1954 are excluded from this lease.

Sub Total 68,004 3,917

7. Shepherd House, 849- 851 Christchurch Road, Freehold Flat 1 (1 bed) S Jalal 26/04/2019 25/10/2019 7,200 Ground 424 AST. Boscombe, Bournemouth BH7 6AJ

Flat 2 (1 bed) L Kaufmane 28/04/2019 27/04/2020 7,260 Ground 426 AST.

First / Flat 3 (2 bed) D Pina and Y Rosa 09/12/2018 08/12/2019 9,540 919 AST. Second A Zielinska and First / Flat 4 (2 bed) 01/03/2019 29/02/2020 9,900 908 AST. M Zielinska Second

Flat 5 (1 bed) M Bura 01/03/2019 29/02/2020 8,040 First 575 AST.

AST. Renewal agreed wef Flat 6 (1 bed) C Beasley 01/09/2018 31/08/2019 8,040 First 527 01/09/2019 at £8,280 p.a. Three yearly upward only rent reviews based upon RPI Euphoria Thai 30/11/2024 (uncapped). Tenant break option Unit 1 01/12/2017 01/12/2020 5,500 Ground 544 Massage (01/12/2022) requires six months' notice. Sections 24 to 28 of the LTA 1954 are excluded from this lease. Source Drylining and Sections 24 to 28 of the LTA 1954 Unit 2 14/02/2018 13/02/2021 6,960 Ground 663 Plastering Limited are excluded from this lease.

Sub Total 62,440 4,986 Lease Current Expiry Rent Rent A r e a Address Tenure Unit Tenant Trading Fascia Lease Start (Break) Review (£ p.a.) Floor (Sq ft) Comments

AST. Mutual rolling break option effective from 01/10/2019 - 8. Buffalo Mews & 7 Market 1 Buffalo Mews A Holland and 31/03/2020 Ground / tenant break option requires Freehold 01/04/2019 12,000 1,098 Close, Poole BH15 1NT (3 bed house) S Holland (01/10/2019) First one months' notice and landlord break option requires two months' notice. Ground 2 Buffalo Mews K McGhee 01/06/2018 Periodic 10,440 / First / 989 AST. (2 bed house) Second 3 Buffalo Mews Ground / A Howells 13/04/2019 12/04/2020 9,840 622 AST. (2 bed house) First 4 Buffalo Mews Ground / A Chard 01/04/2019 30/09/2019 10,500 622 AST. (2 bed house) First Ground 5 Buffalo Mews M Connop and 08/06/2019 07/06/2020 11,040 / First / 995 AST. (2 bed house) T Connop Second Ground 6 Buffalo Mews M Burgess and 01/04/2019 31/03/2020 11,820 / First / 995 AST. (2 bed house) S Thurneyssen Second 7 Market Close Ground / AST. Renewal agreed wef K Cousins 14/06/2018 Periodic 12,300 916 (3 bed house) First 14/09/2019 at £12,540 p.a.

Sub Total 77,940 6,237

9. Wharf Mews, 11 Wharfdale 1 Wharf Mews Ground / Road, Westbourne, Freehold C Knapper 07/12/2018 06/12/2019 11,100 797 AST. Guarantor is J Butterfield. (2 bed maisonette) First Bournemouth BH4 9BH 2 Wharf Mews P Premkumer and AST. Renewal agreed wef 18/05/2018 Periodic 9,960 First 655 (2 bed flat) C Thumburu 01/09/2019 at £10,140 p.a. 3 Wharf Mews S Aduwa-Ero and 20/02/2019 19/02/2020 9,660 Second 655 AST. (2 bed flat) A Aduwa

Sub Total 30,720 2,107

125 year lease from 25/12/2003. Current ground rent is £600 p.a. 10. Edward Court, and is subject to review every 15 151 Richmond Park years, to the higher of the current Flat 1 (2 bed) S Connor 23/02/2019 22/08/2019 9,000 Ground 508 AST. Guarantor is J Connor. Road, Charminster, ground rent or 0.1% of the capital Bournemouth BH8 8UA value. The next review date is 25/12/2033. Less ground -600 rent

Sub Total 8,400 508

TOTAL 468,784 31,445 ASSET MANAGEMENT VAT PROPOSAL In addition to the usual lease event opportunities, this portfolio We understand the transaction will not attract VAT. We are instructed to seek offers in excess of £8,300,000 (Eight offers break up potential to crystallise additional value by Million, Three Hundred Thousand Pounds), subject to contract undertaking future individual asset sales. and exclusive of VAT, for the whole of the share capital of the UK EPC RATINGS registered company which holds the various property interests. SERVICE CHARGE EPC ratings and related documentation are available upon request. A purchase at this level would reflect a Net Initial Yield of 5.52%, Service charge information is available upon request. allowing for purchaser’s costs of 2.30%.

Subject to Contract

FURTHER INFORMATION For further information or to arrange inspections of the properties, please contact the sole agent Hartnell Taylor Cook:

John Burnside +44 (0)20 7788 3829 +44 (0)7730 817 046 [email protected]

Rob Amey +44 (0)20 7788 3813 +44 (0)7801 415 642 [email protected]

Hartnell Taylor Cook 7-10 Chandos Street, Cavendish Square, London W1G 9DQ

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