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Hanley House, Hams Road, Lydney, Chepstow, GL15 5PE Freehold Supermarket Investment Guaranteed by Co-Op with Annual RPI Linked Uplifts

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Hanley House, Hams Road, Lydney, Chepstow, GL15 5PE Freehold Supermarket Investment Guaranteed by Co-Op with Annual RPI Linked Uplifts Hanley House, Hams Road, Lydney, Chepstow, GL15 5PE Freehold Supermarket Investment guaranteed by Co-Op with annual RPI linked uplifts Highlights o Prominent town centre supermarket investment Offers in excess £2,520,000 o The property totals 1,362.9 sq m (14,670 sq ft) o Let for a further 15.8 years (no breaks) to the excellent covenant of Co-operative Group Limited Total income o Total Effective rent of £189,261 per annum £189,261 o Annual rental uplifts linked to RPI every 7th September (2%-4% collar and cap), with the next review on 7th September 2019 Yield o Freehold 7.00% o Car parking with c. 100 spaces National Investment Location The subject property is located in Lydney, an affluent suburb approximately 11 miles (18 km) north east of Chepstow, 20 miles (32 km) south west of Gloucester and 30 miles (48 km) north of Bristol. The town has good road communications benefiting from being adjacent to the A48 which links to Gloucester and the M5 to the north east and Chepstow and the M4 to the south west. Lydney Railway Station is operated by Transport for Wales and is located on the Gloucester to Newport line, offering direct routes from the town centre between Newport and Gloucester. Lydney canal is located within the town and operates as a harbour for pleasure craft. Lydney is renowned for its natural beauty, rural terrains and hiking trails. National Investment Situation The property occupies a large site in the heart of the town centre accessed via Hams Road. Hams Road links to Newerne Street, the principal commercial area in the town, approximately 200m north. The property benefits from being 1 mile (1.6 km) north of Lydney Railway Station which offers direct routes to Gloucester Railway Station (journey time:18 mins), Cardiff Railway Station (journey time: 45 mins) and Cheltenham Spa Railway Station (journey time: 29 minutes). Occupiers in close proximity to the property include, Lydney Charity Shop, Bupa Dental Care, ETB - Exhausts Tyres & Batteries and Severnside Vetirenary group. National Investment Description Tenure The property is arranged over ground and one Freehold. upper floor to provide a ground floor supermarket with ancillary areas totalling 14,670 sq ft (1,362.9 sq m). The property occupies a large site with on- site surfaced car parking for approximately 100 cars. Accommodation & Tenancy Schedule Effective Tenant Floors Use Sq Ft Lease Start Term Lease End Rent Review Rent (£ p.a.) Annual retail price index 06/04/2035 Co-Operative Sales/ rent reviews GF 15/03/2019 16 (15.8 years £189,261 Group Ltd Ancillary 14,670 with a collar of remaining) 2% and cap of 4% Total 14,670 The entire property is sublet to B&M Bargains for a term of 10 years from 20th March 2019 National Investment Covenant The Co-operative Group Limited In the first half of 2018, The Co-Operative Group opened 45 new food stores and 10 new funeral The Co-Operative Group is the fifth largest food homes creating over 600 new jobs. They also retailer in the UK, operating from over 2,800 acquired Simplify Probate to expand the probate local, convenience and medium sized stores. business and increase existing support for bereaved The group is also the largest UK funeral families, making Co-Op the largest provider of services provider, a major general insurer and a probate services in the UK. growing legal services business. The Group employs over 70,000 people across the various In the second half of 2018, the group significantly business lines with over 4.65 million active increased the rate of expansion, opening 60 new members, accounting for 33.5% of total food food stores and 15 new funeral homes in addition to turnover. In H1 2018, sales increased to introducing a revised product base within the £5bn, an increase of 10% compared to 2017 sales Insurance business. of £4.5bn. This reflects a strong performance within the Food business as well as accounting The Group is undergoing rapid expansion in the for the acquisition of Nisa’s wholesaling wholesale market following the recent acquisition operations. of Nisa and a five-year commercial deal to supply Costcutter Supermarkets Group. When combined with independent co-operative societies, The Co- Operative Group now supply over 7,700 stores nationwide. A summary of Co-operative Group Limited’s accounts are below: 6th January 2018 31st December 2016 2nd January 2016 Turnover £9,470,000,000 £9,472,000,000 £9,301,000,000 Pre Tax Profits £72,000,000 -£132,000,000 £23,000,000 Total Net Worth £2,191,000,000 £2,298,000,000 £2,006,000,000 National Investment EPC An EPC is available in the Allsop Marketing Data Room. VAT We understand the property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of Going Concern (TOGC). Dataroom For access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/Chepstowcoop Proposal Offers in excess of £2,520,000 (Two Million, Five Hundred and Twenty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial yield of 7.00%, allowing for standard purchaser’s costs. Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. 07.19 Ronnie Morgan Liam Stray Surveyor Senior Surveyor +44 (0)20 7543 6808 +44 (0)20 7543 6769 [email protected] [email protected] Contact s.
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