PRACTICAL COMPLETION

MAY 2020 NEW BUILD SECURE PETROL FILLING STATION

INVESTMENT OPPORTUNITY THE CO-OPERATIVE, 13 HEOL Y MEINCIAU, PONTYATES, , CAMARTHENSHIRE SA15 5TR Investment Summary

• New build petrol filling station investment • Co-op upgraded blue fit out specification

• Practical completion May 2020 • 4,630 sq ft (exclusive of jet wash) with 4 pump stations providing 18 nozzles • Excellent location on B4309 serving as the main food and fuel to Pontyates and • Freehold site of 0.57 acres (0.23 hectares) surrounding area • Let to Co-operative Group Food Limited • Strong historic trading performance (D&B 5A1) from completion in both food and shop facility. Further information available on request. • 20 year unbroken FRI lease (option for further 20 year term 12 months before term •A number of the Top UK traders in the Co- expiry) op portfolio have very similar attributes to this store in Pontyates. The property is the • Initial rent of £235,000 per annum there is town’s main food and petrol offer, • 5 yearly upward only CPI reviews (1-3% almost no chance of future competition in collar and cap) the immediate area and the current competition is a significant distance away • Offers in excess of £4,200,000 (STC) (10 miles and 25 minutes) on poor roads. • Representing a Net Initial Yield of 5.25% • Constructed with new tanks, lining and shop facility (steel portal frame the only • Estimated reversionary yield of 6.09% pre-existing structure remaining) in the 5th anniversary, 7.05% in the 10th anniversary and 8.01% in the 15th anniversary M6 Ashby-De-La-Zouch SHREWSBURY TELFORD LICHFIELD M54

WOLVERHAMPTON M42

THE CO-OPERATIVE, 13 HEOL Y MEINCIAU, PONTYATES, NEW BUILD SECURE PETROL FILLING STATION BIRMINGHAM INVESTMENT OPPORTUNITY ABERYSTWYTH LLANELLI, CAMARTHENSHIRE SA15 5TR COVENTRY M6 CARDIGAN BAY Kidderminster

M42

Royal Leamington Spa Location LLANDRINDOD WELLS Stratford- Upon-Avon M40 WORCESTER Pontyates is a pre-dominantly welsh speaking village, CARDIGAN situated on the banks of the Gwendraeth Fawr river, BANBURY HEREFORD Chipping Campden equidistant to Llanelli and , some 10 miles away. M50

Chipping Norton The village is the meeting point for the intersection of two busyST DAVIDS B-roads, which provide both the main route between Carmarthen and Llanelli, GLOUCESTER and a link road to many residential communities in the area. Brecon Beacons The village is set in an attractive rural area, and is split into two, known M5 OXFORD Cirencester locally as “pentre hyn” (this village) and “pentre draw” (that village), and M4 hosts a local population of 3,500 people, rising to c. 15,000 within a Faringdon SWANSEA Malmesbury 5-mile radius. NEWPORT SWINDON M4 Royal Wootton M4 Bassett CARDIFF BRISTOL M4 He Marlborough Hungerford

o oad l y

R

Meincia BATH

ciau n Devizes

Mei He Weston-Super-Mare u o l y BRISTOL CHANNEL S Pe yl ntr e Trowbridge n Road

sant B4309 e

n

eol Ma

H wr Gwendraet h Fa Warminster Minehead H e o WELLS l ydd y Exmoor af Pe D n l ir tr Glastonbury T e le Hil yrt M d Roa

reb s

Barnstaple a i

Ho r Four Roads e esgl a d WINCHESTER M n y Pont Henri r SALISBURY B H eo l y Bideford TAUNTON P en tre

Heo B4317 l y Mei M5 Yeovil m Y Dr i n ci SOUTHAMPTON a nt u sa n a r M w

a Heol F

th e a ad o dr n e inciau R w e M G

ad Pontyates o

eb R r

Ho B4309 He ol Llane lli

H zareth e ol Na

d ynyddygarreg a He o l yr Ysgol

Danybanc Ro

Cynheidre

Herber deg Road

C ape Glyn Abbey Golf Club l T eil o R o a d

Mayfor B4309

d Lane B4317 Carwe

on Morlais Af

B4308 A fon L liedi TO LLANELLI

PONTYATES RUGBY CLUB B4317

PONTYATES

B4317

TO CARMARTHEN

B4309 9 06 A4 A NEW BUILD SECURE PETROL FILLING STATION THE CO-OPERATIVE, 13 HEOL Y MEINCIAU, PONTYATES, 4 7 8 Llanfrynach LLANELLI, CAMARTHENSHIRE SA15 5TR A40 9 INVESTMENT OPPORTUNITY 7 4 A A 4 8 A 4 4 Brecon 21 5 A 4 0 6 Situation Llandeilo 9 5 Nantgaredig 40 46 6 A A 6 A40 4 The property is situated on a prominent site fronting Carmarthen A A the B4309, the principal route from Llanelli to 4 A40 03 7 Camarthen. The intersection in the village of the two 0 Whitland 7 A40 St Clears A4 6 primary through roads for the surrounding area, 8 0 4 Crickhowell means the village acts as a hub for the multiple smaller 01 A A 04 Brynamman Brecon Beacons 40 Abergavenny communities that surround it. 77 A A Monmouth 4 40 0 6 6 8 59 6 0 Brynmawr As such, the petrol filling station in the town has a wide A4 BLAENAU 6 7 Ystradgynlais A4054 catchment area, with the nearest competition being 4 Ammanford GWENT A 09 A 1 A4 7 4 22 47 Laugharne 4 A 1 Ebbw Vale A4 more than 5 miles away (as shown by theA adjacent map). 7 Blaenavon 0 05 4 A465 A Pontyates Rhymney 4 3 0 Kidwelly 8 A 4 4

Tredegar 4 A Glyn-Neath A A 2 Blaina 0 4 4 RHONDDA 6 4 9 0 5 miles 4 3 CYNON A Pontardawe 6 MONMOUTHSHIRE 5 4 Pontarddulais 6 TAF Merthyr Tydfil 0

4 4 A 8 02 A MERTHYR A4 8 4 A 72 13 8 TYDFIL A4 Clydach Aberdare 40 Abertillery A484 NEATH 59 Pontypool Usk Llanelli A4233 PORT TALBOT Bargoed Mountain Ash 72 Gorseinon A4 Burry Port 4

A42 M4 7 Treherbert 9 6 Neath 0 A Treorchy 4 4 4230 Treharris 4 A CAERPHILLY GWENT A Loughor 4107 A 7 A 40 Ferndale 1 4 58 42 7 Pontllanfraith A 4 Rhondda Cwmbran A Abercynon Ystrad Mynach TORFAEN A483 Pontycymer SWANSEA Porth Caerleon A

Port Talbot A 4 Tonypandy Pontypridd Risca

4 0

Maesteg 0 6

A 1 68 8 4 6 A A4 Caldicot 1 2 4 A41 4 093 4 1 A4 05 A 4 4 A Caerphilly 0 4 63 7 0 NEWPORT A4 A 69 4 A4810 8 BRIDGEND Llantrisant Petrol Filling Station NozzlesPort Eynon Store Operator Distance from Subject Property (Miles) A 4 NEWPORT A 0 4 5 M4 Pencoed 1 4 SWANSEA 1 9 01 Woodlands Garage 12 Nisa Local 5.2 Bridgend 73 A4 Pontyclun CARDIFF A 06 4 A 41 2 2 4 02 A 2 3 11 Texaco, Llanelli 16 Londis 6.7 2 2 9 4 Avonmouth

A

A4 Portishead 03 Morrisons, Carmarthen 26 Morrisons 7.8 Porthcawl 8 Cowbridge

A CARDIFF4 1 6 0 04 VALE OF A Rontec Crosshands 24 Shop N Drive 8.0 4 Dinas Powys 2 Nailsea GLAMORGAN 2 6 Clevedon 50 Penarth 40 A 05 Eurogarages, A48 24 Eurogarages 11.7 Llantwit Major A4226 55 0 NORTH 4 Barry A SOMERSET

A370

Congresbury

A Weston-Super-Mare371 8 3 BRISTOL CHANNEL A

Axbridge

A371

Ilfracombe Burnham-On-Sea Wedmore Lynton A39 9 3 A A A3 23 39 A38 1 9 Minehead NEW BUILD SECURE PETROL FILLING STATION THE CO-OPERATIVE, 13 HEOL Y MEINCIAU, PONTYATES, INVESTMENT OPPORTUNITY LLANELLI, CAMARTHENSHIRE SA15 5TR

Description & Accommodation Tenancy The property occupies a prominent and highly The spacious canopied forecourt has four pumps The property will be let from practical completion of visible site comprising a newly constructed Co-op providing 18 nozzles trading between 0700 hrs and the development to the Co-operative Group Food convenience store and petrol filling station. 2300 hrs. Limited on a full repairing and insuring lease for a term of 20 years. The store, tanks and canopy have been recently The forecourt provides 23 marked car parking spaces constructed on the site of the former Today Service (2 disabled) and a hand held car wash. The property The initial rent of £235,000 per annum (£51 psf) is to be Station, which has been trading since 2007 as a Nisa benefits from an external ATM. reviewed every 5 years in line with the consumer price

NOTE: convenience store and Texaco fuel station. - This drawing has been prepared by Jennings Designindex Ltd on behalf (cappedof NORTHOLD and collared at 1%-3%). GROUP for LEGAL purposes only. The property has a gross internal area of 4,630- This drawing is subjectsq toft copyright laws & is for use on this project only. - JDL to be notified of any discrepancies. NORTH The property is of structural steel frame construction (exclusive of car wash) on a large site of 0.57 acres with a mixture of brick and profile metal clad elevations (0.23 hectares). Tenure under pitched metal clad roof. Heol Y Meinciau B4309 Freehold (Title number: DN85423).

3No. NEW Cycle EXISTING EXIT CROSSING EXISTING ENTRANCE CROSSING Stands EX.ID SIGN NEW DRAINAGE CHANNEL NEW DRAINAGE CHANNEL RETAINED

1 6 4

NEW DRAINAGE CHANNEL DRAINAGE NEW 22

T1 T2 5 3 PUBLIC PARK FL

21 NEW BELOW GROUND FL PUBLIC CAR PARK

3.8m High OFFSET FILLS

EX.CANOPY OVER 2 1

ENTRANCE 20 ATM

EXISTING BOUNDARY WALL RETAINED WALL EXISTING BOUNDARY GULLY FL EX.JET FL WASH BAY

DOOR/WINDOW OPENINGS SHOP WALLED UP PEDESTRIAN SAFE ZONE PEDESTRIAN W

EXISTING INCOMING MAINS WATER RETAINED WALL BOUNDARY EXISTING SUPPLY RETAINED NEW CUSTOMER PARKING BAYS PARKING CUSTOMER NEW

PUBLIC CAR PARK

GULLY

ROLL SHUTTER DOOR OPENING WALLED UP

NEW 1.2m wide NEW INTERNAL FULL HEIGHT SCHEDULE OF EXISTING AREAS FL FL Service Door HOUR FIRE WALL Site Area 0.23H / 0.57A BACK OF HOUSE PUBLIC PARK 15 PFS Shop Gross Building External Floor Area 429m² / 4620ft² 14 REFUSE AREA GULLY PFS Shop Gross Building Internal Ground Floor Area 404m² / 4350ft² STORE ROOM PFS Shop Gross Building Internal First Floor Area 26m² / 280ft² NEW SERVICE ENTRANCE

EXTERNAL LANDING

DELIVERY COMPOUND NEW CANOPY OVER NEW

TURNING AREA KEEP CLEAR PLANT EQUIPMENT DELIVERY RAMP ENTRANCE MAX 1:15

Interior image is an example of standard Co-op fitout EXISTING BOUNDARY WALL/FENCING RETAINED

STATUS CLIENT LEGAL - DEMISE PLAN 0 5 10 Northhold Group SCALE - METRES - 1 : 250 @ A3 DRAWN BY ISSUE DATE SCALE ADDRESS © Protected by UK Copyright Law JENNINGS DESIGN LTD WW MAY 2019 1 : 250 @ A3 EXISTING PETROL FILLING STATION York House Valley Court 13 Heol Y Meinciau PLAN NUMBER REVISION Canal Road 181159-L1 - Pontyates Bradford West Yorkshire Tel: (+44)1274 395 422 Llanelli SA15 5TR BD1 4SP Email: offi[email protected] NEW BUILD SECURE PETROL FILLING STATION THE CO-OPERATIVE, 13 HEOL Y MEINCIAU, PONTYATES, INVESTMENT OPPORTUNITY LLANELLI, CAMARTHENSHIRE SA15 5TR

Covenant Status

Co-operative Group Food Limited (Company Number: 26715R) is a wholly owned subsidiary of The Co-operative Group Limited which was established in 1844 and now operates 4,500 outlets with almost 90,000 employees and has an annual turnover of £10.50 billion. Co-operative Group Food is the UK’s 5th largest food retailer with almost 2,800 local, convenience and medium sized stores employing over 69,000 people. Furthermore existing arrangements with independent co-operative societies means they supply more than Interior images are for illustrative purposes only, and represent a standard Co-op fitout. 7,700 stores. In the first half of 2018 the group opened 45 new stores and created 600 jobs, and with the acquisitions of Nisa and a 5-year deal to supply Costcutters, the company has seen significant recent growth. A summary of Co-operative Group Food Limited accounts is set out below.

Co-operative Group 5th Jan 2019 6th Jan 2018 31st Dec 2016 Food Limited

Turnover £7,185,200,000 £6,940,200,000 £6,933,400,000

Pre Tax Profits £207,900,000 £232,500,000 £154,200,000

Shareholder Funds £1,970,500,000 £1,875,100,000 £1,805,400,000 NEW BUILD SECURE PETROL FILLING STATION THE CO-OPERATIVE, 13 HEOL Y MEINCIAU, PONTYATES, INVESTMENT OPPORTUNITY LLANELLI, CAMARTHENSHIRE SA15 5TR

Anti-Money Laundering Regulations VAT EPC In accordance with Anti-Money Laundering Regulations, two forms The property is elected for VAT and therefore VAT will An energy performance certificate will be of identification and confirmation of the source of funding will be be payable on the purchase price. It is anticipated provided on completion. The store has required from the successful purchaser. that the transaction will be dealt with as a transfer of a been designed to the new enhanced Co-op going concern. environmental standards. NEW BUILD SECURE PETROL FILLING STATION THE CO-OPERATIVE, 13 HEOL Y MEINCIAU, PONTYATES, INVESTMENT OPPORTUNITY LLANELLI, CAMARTHENSHIRE SA15 5TR

Proposal Further Information For further information or to arrange an inspection, please contact: We are instructed to quote offers in Daniel Campbell Mark Powell excess of £4,200,000 exclusive of VAT Tel: 07741 593 968 Tel: 07825 077 724 and subject to contract. A purchase at this Email: [email protected] Email: [email protected] level reflects a5.25% net initial yield and Christopher Dee: 40 Peter Street, Manchester M2 5GP after standard purchase costs. Adam Bullas Tel: 07812 965 395 Below shows the estimated yield profile of the investment, assuming a 3% Email: [email protected] annual growth in CPI: Savills: 2 Charlotte Place, Southampton, SO14 0TB Year Rent Per Annum Running Yield

Initial Rent £235,000 5.25%

Year 5 £272,429 6.09% MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained here in is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on Year 10 them as statements of fact or representations and must satisfy themselves as to their accuracy. Christopher Dee nor any of its employees £315,820 7.06% or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. 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 is capable Year 15 £366,122 8.18% or fulfilling its intended function. Prospective tenants/ purchasers should satisfy themselves as to the fitness of such equipment for their requirements. January 2020.