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Cardiff and Bristol and Is One of to London A48 Imperial House Is Situated 1 Mile South of the Principal Commercial Centres in South Wales

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Cardiff and Bristol and Is One of to London A48 Imperial House Is Situated 1 Mile South of the Principal Commercial Centres in South Wales Imperial House, Imperial Park NEWPORT, NP10 8UL Single-let Modern Headquarter Office Investment Investment Summary • Freehold, single-let, modern business park office investment. • Strategic location with exceptional connectivity situated on Junction 28 of the M4 Motorway. • Situated in the established Imperial Park, with high profile neighbouring occupiers and excellent on-site amenities. • Headquarter facility totalling 26,672 sq ft (2,478 sq m) of flexible office accommodation with 9.55 years to lease expiry (4.55 years to break). • Generous car parking provisions of 90 spaces (1:296 sq ft occupied). • Let to a strong and rapidly growing global covenant of GoCompare.com Limited (4A1). • Group parent company has recently launched as a public company with a market capital value of circa £500m. • GoCompare announced its highest revenue to date in 2017 of £149.2 million. • Current rent of £400,080 per annum equating to £15.00 per sq ft which is highly competitive with regional locations. • Opportunity for strong rental growth following the game-changing benefits of several infrastructure improvement initiatives which are all underway and increasing profile of Newport as a major regional city. Proposal Seeking offers in excess of £4,660,000 reflecting an attractiveNet Initial Yield of 8%, after deducting purchaser’s costs of 7.34%, and a low Capital Value of £175 per sq ft. Subject to Contract and Exclusive of VAT. Single-let Modern Headquarter Office Investment Location To Newport Situation City Centre Newport is located midway between Cardiff and Bristol and is one of To London A48 Imperial House is situated 1 mile south of the principal commercial centres in South Wales. It has a resident urban Patent Junction 28 of the M4 Motorway, just south of Celtic J28 Office population of approximately 170,000 and a catchment population Statistics Springs Business Park, one of the most highly regarded within a 30-minute drive time of 479,000. Newport forms a key part of Office office locations along the M4 corridor. Imperial Park the Cardiff Capital Region which is a £1.28 billion collaborative initiative offers a strategic location on the western edge of between ten Local Authorities aimed to increase connectivity, physical Newport, on the border with Cardiff and is a short drive and digital infrastructure and deliver 25,000 new jobs. from both Cardiff and Newport City Centres. The city benefits from excellent road Welsh Water Imperial Park is one of the prime business space locations communications, lying immediately to Cleppa Park in South Wales. The location has recently been bolstered Carpeo the south of Junctions 24 to 28 of the M4 M4 TREDEGAR by a £38m investment to create a semiconductor tech- motorway. PARK hub for South Wales. This is the first major investment as Holiday Inn Express Pencarn W part of the £1.28 billion City Deal. It benefits from regular intercity rail Dragonfly Pub Airbus Defence Lloyds and Space Retail Banking ay services. Journey times will be just Complex Quarter Group Imperial House is situated at the entrance to Imperial To Cardi Bucha & Swansea 90 minutes to London Paddington, Drive Park, opposite Q1 and Q2 office buildings, and is the n de A48 following the electrification of the rail line Hazell Drive an W Lakesi Wales Welsh home of Go Compare’s UK headquarters. Water ay & West y due for completion in 2018. Wa Utilities ose pooner C l Steria l S Ltd The five-star Celtic Manor Hotel & Golf Resort, which Imperia Residential Travel time to Cardiff Central Railway Next Development hosted the 2010 Ryder Cup and the 2014 Nato Summit, Generation Station is currently 14 minutes. This Celtic Wa Data is situated to the east, within eight miles of the subject will be further reduced following the property. Work is underway to add a new 4,000 delegate To Cardi y IQE electrification. Cardiff International City Centre Imperial international convention centre which is set to open in Park S Lake Drive Airport is located 25 miles to the 2019 and will further raise the profile of Newport on the south west of Imperial Park and offers UK and global stage. yn connections to an ever-expanding array Quinn Radiators Dyffr e of global destinations. Lan Location Distance (miles) The profile of Newport has grown Surrounding Occupiers: considerably recently following a M4 Motorway, (Junction 28) 1 number of large scale developments and Newport 3 infrastructure improvements. The largest Cardiff 10 of these was the Friars Walk Shopping Bristol 34 Centre development in the city centre. Swansea 48 Newport also hosts various national Birmingham 107 occupiers including Admiral Insurance, London 140 the Passport Office, Airbus, DAC Beachcroft and Lloyds Banking Group. Description Imperial House provides highly specified, open-plan office accommodation totalling 26,672 sq ft over two storeys in a well maintained, attractively landscaped and secure environment. The building offers two highly flexible floor plates of circa 13,336 sq ft, allowing the building to be divided on a floor-by- floor basis with the ability of further sub-dividing each floor plate to offer high investment robustness. The tenant has invested significantly on its fit-out to enhance the space, creating a bright, modern environment fitting for a corporate headquarters. The building benefits from a generous car parking provision of 90 spaces (1:296 sq ft occupied) and includes the following specification: • Air conditioning • Basement area • Raised floors • Atrium • Suspended ceilings with • External balconies recessed lighting • EPC rating of C(57) • DDA access • Secure gated access • Passenger lift • Attractive external • Male, female & disabled WCs landscaping Occupational Summary Property Tenant Area (sq ft) Rent Rent (sq ft) Lease Start Lease Expiry Break Date Rent Review Imperial House GoCompare.com Ltd 26,672 £400,080 £15.00 08/02/2013 07/02/2028 08/02/2023 08/02/2023 Tenancy Imperial House is let to GoCompare.com Ltd on a 15-year Full Repairing and Insuring The Tenant has been in occupation in the location since the company’s establishment Lease commencing on the 8th February 2013 and expiring 7th February 2028. The in 2006 and took occupation of Imperial House in 2013 for the use of its UK Tenant has a break option on 8th February 2023 (upon serving at least 9 months' notice) headquarter facility. The Tenant has continually invested in the building throughout its providing an unexpired lease term of 9.55 years to expiry and 4.55 years to break. occupation, demonstrating ongoing commitment to the location. The current passing rent is £400,080 per annum (£15.00 psf) demonstrating the prime quality of the asset and is in line with other prime business park rentals in South East Wales. This rental tone is highly competitive in terms of the tenant selecting a regional location for its UK headquarters. Single-let Modern Headquarter Office Investment Tenure Freehold. Additional rights to use 90 car parking spaces on the Imperial House estate. An energy comparison and switching specialist. Covenant Profile The Tenant GoCompare.com Limited is one of the most recognisable brands in the The UK’s No.1 online destination for free vouchers, discounts and deals. UK and is the largest subsidiary of GoCompare.com Group Plc, a FTSE – listed company with a market capital value of circa £500m. GoCompare is an online financial services comparison business specialising The world’s only regulated mortgage robo-adviser. in insurance, loans and borrowing, savings, energy, flights, hotels and utilities. The business was established in 2006 and since has grown rapidly through aggressive marketing and brand building since being acquired by Esure in 2014 for £95m. In November 2016, GoCompare demerged from Esure and was The Middle East’s No.1 comparison website listed on the London Stock Exchange for the first time. for financial products, phone and broadband. 2017 marked a milestone year for the Group as it completed its first year as a public company and achieved its highest ever revenue of £149.2m, generating a 20% increase in adjusted operating profit vs 2016. In June 2018 GoCompare secured itself as the provider to The Sun newspaper’s vouch- er code website. GoCompare.com Limited (05799376) represents a D&B rating of Performance has continued on an upward trajectory with H1 2018 results showing a 4A1, with the following latest financial results: further 10% increase in operating profit, compared to H1 2017, from £15.8m to £17.3m. Strong cash generation has allowed the group to declare its first dividends, whilst also Year ending Year ending Year ending enabling the following corporate acquisitions: 31st December 2017 31st December 2016 31st December 2015 Turnover £149,200,000 £142,100,000 £118,800,000 Pre-tax Profit £34,900,000 £30,300,000 £23,800,000 Tangible Net Worth £23,000,000 £9,900,000 £7,500,000 A4042 Cwmbran A449 Crosskeys A4042 A449 A48 Risca Caerleon Newport Office Market & Bettws A48 A4051 J25 Infrastucture Improvements J26 J24 M4 M4 Total office stock in Newport is circa 2 million sq ft, which includes M4 Rogerstone A4051 offices in the city centre and out of town business parks, between Magor A48 J23 Junctions 23 and 28 of the M4 Motorway. There is very limited J27 modern office accommodation available in Newport City Centre with the majority of stock dominated by secondary space dating to NEWPORT A48 A467 A4810 the 1960s and 1970s. Consequently, the majority of occupiers are Bassaleg e A48 A48 out attached to the business park locations. Prime rents are £16.00 per J28 oposed Southern Pr relief r sq ft across Newport, including out of town stock. M4 There is stronger potential for rental growth following the Cefn Mably J29 completion of connectivity improvements through the electrification of the main railway line, £14 million improvement M4 Proposed Southern J30 relief route works being made to Junction 28, construction of the M4 relief road A48 (M) and the scrapping of the Severn Bridge toll with the benefits of the Marshfield toll-free bridge due to be felt by the end of 2018.
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