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Open A1 Non-Food Retail Park Investment REGENT RETAIL PARK | 2 INVESTMENT SUMMARY

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Open A1 Non-Food Retail Park Investment REGENT RETAIL PARK | 2 INVESTMENT SUMMARY REGENT RETAIL PARK Salford | Manchester | M5 3TP Open A1 Non-Food Retail Park Investment REGENT RETAIL PARK | 2 INVESTMENT SUMMARY • Greater Manchester has a population of approximately 2.6 million, making it the second largest conurbation in the UK. • Salford is situated 4.0 km (2.5 miles) west of Manchester city centre and is highly accessible via the A57 Regent Road, the inbound carriageway which turns into The Mancunian Way, the inner ring road of Manchester city centre. • The park sits within an improving socio-economic environment led by a pro regeneration and development council. There are approximately 5,075 new homes and 3,250,000 sq ft of new commercial accommodation to be built out over the next few years within a 2.4 km (1.5 miles) radius of the scheme. • Regent Retail Park is prominently located occupying a key trading position on the A57 Regent Road adjacent to the recently extended and refurbished 8,585 sq m (92,415 sq ft) J Sainsbury, off the back of positive trade. • The scheme predominantly draws upon the central western catchment of the conurbation, with an estimated population of circa 282,000 and 677,000 residing within a 10 and 15 minute drive time respectively. • The modern ‘L’ shaped scheme totals 10,805 sq m (116,314 sq ft) across 10 units with an extensive car park provision of 474 spaces giving a ratio of 1:245 sq ft. • The park is fully let to national retailers including TK Maxx, Sports Direct, Dunnes, Argos, Pets at Home, Poundstretcher, Home Bargains, Boots, Deichmann Shoes and Maplin. • The units are let at passing rents ranging from £18.24 psf to £22.50 psf and provide a total scheme income of £1,881,615 per annum. • The average weighted unexpired term is c.3.45 years across the scheme with 89.8% of the income rated as ‘Very Low Risk’ by Experian. Building on the existing retailing provision the scheme PROPOSAL offers a number deliverable asset management opportunities to drive future performance. We are instructed to seek offers of £31,000,000 • The park has an Open A1 Non-Food planning consent, with the exception of 1,394 sq m (15,000 sq ft) gross floorspace able to be (Thirty One Milllion Pounds) subject to contract used for the purposes of food retailing. and exclusive of VAT. An acquisition at this level • The property is held long leasehold from Salford City Council for would reflecta Net Initial Yield of 5.74%, assuming a term of 150 years from 10th December 1993 (approximately purchaser’s costs of 5.8%. 128 years unexpired) at a peppercorn rent. REGENT RETAIL PARK | 3 A56 A6 A6041 LOCATION & A5066 Manchester A665 COMMUNICATIONS Victoria Salford Crescent A6042 Manchester is the acknowledged capital of the North of England and is the largest commercial, cultural and financial centre outside London. The City is the second most populous conurbation in the UK after London totalling approximately 2.6 million (according to the A6 2011 census). As a major UK city it is highly integrated into the Salford Central national transport network served by the M56, M60 Manchester Orbital, M602, M61, M62 and M67 motorways making it highly MANCHESTER accessible to the surrounding region and rest of the UK. M602 Live Manchester is well served by two major railway stations with rpoo Jct 3 l Stre Manchester Piccadilly to the south and the £44 million newly et A5066 A56 refurbished Manchester Victoria StationA57 to the north. Manchester Piccadilly is the principal terminus to the South on the West Coast M iid A6 Mainline with a journey time to London Euston of approximately dlle A6042 wood Rd A34 2 hours 10 minutes. Other destinations from the stations include Liverpool, Sheffield, Leeds, Birmingham, Newcastle-upon-Tyne, e n Oxford, Bristol, Glasgow and Edinburgh. A57 a Manchester L ll Piccadilly sa d Manchester Airport is the third busiest airport in the UK and the r O largest regional airport with over 22.8 million passengers annually. The £1 billion investment programme led by Manchester Airports Group (MAG) over the next 10 years is set to transform Manchester REGENT RETAIL PARK A56 Airport expanding services and allowing it to double the number of passengers it handles a year to more than 45 million. A57 Manchester Salford, a City in its own right, is situated less than 3.8 km (2.4 miles) Deansgate Oxford Road north west of Manchester city centre accessible via The MancunianA5063 Way, the inner ring road A57(M) which turns into Regent Road (A57). Salford’s population can also access the City via Salford Crescent railway station whilst the Eccles line of the Manchester Metrolink A57(M) runs through the City of Salford. A5066 A57(M) A56 MANCHESTER A5067 REGENT RETAIL PARK | 4 Walkden A6104 Pendlebury A663 Swinton A576 A580 Alder Forest A62 DEMOGRAPHICS A664 A56 Salford has a 233,900 strong population (according to the 2011 census) Salford M602 with a total population catchment of 282,000 and 677,000 residing Eccles MANCHESTER within a 10 and 15 minute drive time respectively of Regent Retail Park. A576 The population profile of the catchment includes a large percentage of A635 students and young professionals with the University of Salford situated Trafford A5063 1.44 km (0.9 miles) north west of the subject property with c. 20,000 A5081 Barton Moss Hulme A6017 students and along with the popular living quarters of Spinningfields and M62 REGENT RETAIL PARK Castlefield’s for young professionals situated less than a mile east. Old Trafford Urmston A5181 M67 Salford Quays is a major waterside urban regeneration area situated on Whalley Range M60 a 126 acre site within the former Salford Docks. It has seen significant Stretford development over the last 25 years following the creation of the Salford A5145 Enterprise Zone. The success of Salford Quays is underlined by the quality of office occupiers who have been attracted to the area including BBC, ITV, Salford University, Bupa, TalkTalk, RBS, Cornhill Insurance, Japan Tobacco, Marks & Spencer and Avis. A34 Sale As well as an established office location, Salford Quays is also a popular leisure destination, attracting millions of visitors each year. The Lowry A56 Arts Complex opened in 2000 and is one of Manchester’s most popular tourist attractions. The area is also home to Old Trafford, Manchester United’s football ground, The Intu Trafford Centre, The Imperial War Drivetimes Museum North and the Chill Factor amongst the facilities. 5 Minutes 10 Minutes 15 Minutes Trafford Park, one of Europe’s largest industrial estates and the regions premier industrial location is located 4.0 km (2.5 miles) south-west of Salford with a mixture of industrial premises, from small starter units to large warehouse, distribution and manufacturing facilities. Key occupiers include Kellogg’s, Allied Mills, Adidas and Cargill PLC. SALFORD HAS A 233,900 STRONG POPULATION, “ WITH A TOTAL POPULATION CATCHMENT OF 282,000 AND 677,000 RESIDING WITHIN A 10 AND 15 MINUTE DRIVE TIME RESPECTIVELY OF REGENT RETAIL PARK ” A56 A6 A6041 A5066 REGENT RETAIL PARK | 5 Manchester A665 Victoria A6042 REGENERATION Salford Crescent A6 Salford Central Salford City Council have a clear and ambitious target to encourage regional, central and international investment over future years into the regeneration and development 2 5 of Salford, improving the socio-economical heart of the City, http://beta.salford.gov.uk/ M602 REGENT RETAIL PARK Jct 3 planning-building-and-regeneration/regeneration/. This drive has seen a number of planning A5066 A56 A57 submissions and approvals in the immediate vicinity of the subject property which include: A6 1 Wilburn Street Basin – The redevelopment of the 1.2 ha (3.0 acre) site adjacent to A34 Regent Retail Park on Ordsall Lane is currently onsite constructing 491 residential A57 units across four buildings, due to complete at the end of 2016. 1 2 Middlewood Locks – The mixed use 9.55 ha (23.6 acre) site situated to the rear of Regent Retail Park has been granted outline planning consent earlier this year 4 A56 following China’s Xinjiang Hualing Industry & Trade Group investment into the 7 Scarborough Development Group. The £730 million master planned scheme includes A57 2,000 homes with 750,000 sq ft of mixed-use space. Phase 1 is due to commence on A5063 3 site at the end of this year. http://middlewood-locks.co.uk/interactive-brochure.php A57(M) 3 Bridgewater Point – This recently approved residential development includes A5066 220 homes in Ordsall Riverside by Beaumount Morgan and Fortis Developments 6 A57(M) across two sites on Ordsall Lane and Woden Street. 4 Ordsall Apartments – MMGG Properties has submitted a planning application to develop A56 142 residential units on a brownfield site fronting onto Ordsall Lane. Sites 3 & 4 form part of Ordsall Riverside, a 30.6 ha (75.6 acre) strip of land between Ordsall Lane and the River Irwell Manchester Ship Canal extending from Trafford Road in the south west to Regent Road in the north which has been identified for regeneration to create a vibrant mixed-use area comprising residential, commercial and leisure uses. 5 New Bailey – The master planned development is situated 1.44 km (0.9 miles) north east of Regent Retail Park and is to provide 2.5 million sq ft of office, retail and leisure space, 849 new homes and 390 hotel rooms. Funded by Legal & General Capital with development partner English Cities Fund, the first phase of construction, the 615 space NCP car park was completed in November last year whilst One New Bailey, the 125,000 sq ft Grade A office building is under construction due to complete mid-2016.
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