A Rare Opportunity to Acquire a Prime Mixed Use Investment

T H E

A rare opportunityA rare opportunity to acquire to aacquire prime a majormixed landholding use investment at the heart in of Nottingham Nottingham. city centre.

T H E

ENTER

Upper Parliament Street, Nottingham heb T H E

T H E

Introduction

The Axis was developed by Henry Boot Developments Limited and completed in 2009 following a major redevelopment of what was previously a substantial landmark department store.

Situated in the heart of Nottingham, the scheme provides a diverse mix of Retail, A3, Leisure, Office and Residential uses along with 193 secure car parking spaces, all of which have been carefully combined to provide an investor with a blend of both long term secure income as well as the opportunity to add value through the on-going asset management of the wider investment.

Held within Henry Boot’s retained investment portfolio, this is the first time The Axis has been offered to the investment market.

The sales campaign is supported by a comprehensive data room, see ‘Proposal’ for details or T H E

T H E

T H E Executive Summary

Executive Summary

• A substantial freehold and part leasehold mixed use investment offered to the market for the first time since the scheme was completed in 2009.

• Located on Upper Parliament Street and Wollaton Street in Nottingham City Centre.

• The Scheme comprises of three buildings that have been combined to provide retail, A3, Casino, prime ‘Grade A’ offices and 18 residential apartments, 95 basement car spaces along with an adjoining 98 space long leasehold car park, included in the sale.

• The property extends to over 192,680 sq.ft arranged on basement, ground, and four upper levels with generous basement car parking.

• Let to a total of 7 primary tenants who occupy under 8 separate leases. Occupiers include The Driving Standards Agency (Secretary of State for Communities and Local Government), London Clubs International Plc and Philpotts Limited.

• The property produces a current rental income of £1,894,696 per annum and has a current ERV of £2,057,028 per annum.

• We are seeking offers in excess of £26,000,000 for the benefit of our client’s interest. A purchase at this level will provide a net initial yield of 6.9% rising to 7.5% based on the current ERV’s, and an equivalent yield (quarterly in advance) of 7.77%. T H E

T H E

Nottingham

The City of Nottingham lies at the heart of the UK and is regarded as the commercial and administrative hub of the East Midlands.

With an economy worth an estimated £12.1 billion, Nottingham is served by a substantial diversified workforce, with over 15 million people living within a 50 mile radius of the centre, covering an extensive area running south towards Loughborough and west towards Derby. Mansfield is to the north and Newark on Trent and Grantham to the north east and east.

The city attracts a number of international corporations with over fifty Regional and National Headquarters based in the city. Nottingham is the home to Boots Company/now Alliance Boots, Experian, Eon UK, Imperial Tobacco Limited, Gala Group, Siemens, Speedo, Vision Express, Games Workshop, Capital One and Rolls Royce.

Nottingham is also one of the UK’s top five retail destinations and will be further boosted by the redevelopment of the city’s two main shopping centres, Victoria Centre and Broadmarsh. The city’s thriving leisure market is boosted by the presence of over 65,000 students living in the city, based at The University of Nottingham and Nottingham Trent University. T H E

T H E

Location

JOURNEY Location LOCATION DISTANCE (MILES) London 125 Manchester 83 Located in the centre of the United Kingdom 125 miles Birmingham 55 north of London, Nottingham is served by 3 junctions of Leeds 73 the M1 motorway (24-26). Transport communications are Liverpool 111 excellent. The city is directly linked to the East Coast Mainline Edinburgh 280

(London St Pancras 1 hour 45 minutes), Nottingham East RAIL Midlands Airport provides direct flights to 90 international LOCATION JOURNEY TIME destinations and the city’s modern tram system carries an EDINBURGH London 1 hr 45 mins estimated 9.5 million passengers every year. Manchester 1 hr 56 mins Birmingham 1 hr 39 mins The Axis occupies a prominent position at the intersection Leeds 1 hr 53 mins of three of the city centre’s principal road ways; Upper Liverpool 2 hrs 44 mins Parliament Street, Maid Marian Way and Derby Road. Edinburgh 4 hrs 42 mins

The location borders the city’s central business district and Nottingham’s main retail and leisure areas centred around Old Market Square. The Axis is 640m west of the Victoria Shopping Centre. Clumber Street the prime retail pitch LEEDS and Broadmarsh Shopping Centre is just 800m south. MANCHESTER Nottingham Trent University is situated 320m to the north, NOTTINGHAM off Goldsmith Street.

BIRMINGHAM

National Map LONDON T H E

T H E

Location

Located in the centre of the United Kingdom 125 miles north of London, Nottingham is served by 3 junctions of A60 the M1 motorway (24-26). Transport communications are Shipley Arnold excellent. The city is directly linked to the East Coast Mainline A610 (London St Pancras 1 hour 45 minutes), Nottingham East Kimberley A6097

Midlands Airport provides direct flights to 90 international 26 Old Basford destinations and the city’s modern tram system carries an Burton Joyce Sherwood estimated 9.5 million passengers every year. Mapperley

The Axis occupies a prominent position at the intersection of three of the city centre’s principal road ways; Upper Ilkeston M1 Carlton Parliament Street, Maid Marian Way and Derby Road. A6514 A60 The location borders the city’s central business district and Wollaton Nottingham’s main retail and leisure areas centred around Nottingham A52 Old Market Square. The Axis is 640m west of the Victoria Lenton Shopping Centre. Clumber Street the prime retail pitch Radcliffe on Trent d and Broadmarsh Shopping Centre is just 800m south. Bramcote liffe R Radc

Nottingham Trent University is situated 320m to the north, A52 Wilford off Goldsmith Street. Beeston A52 25 Edwalton A52

Clifton A46 Melto n Rd

t Plumtree S

n M1 e Regional Map e Gr T H E

T H E

T H E A60 M

NORTH A N S HUNTING F I E SHERWOOD ST L Location D R DON O

ADDISON S A D ST

MANSFIELD ROAD TRE ET TRE HS ET RT O N LF ROUGH RD T

U O F S R N ET T O RE H ST T L WOODBO G

E S H E U N

P H I N T

D CL E LMA T LL S W R A R I E N N

A Y W V G W I

ET D K T E O D GILL STRE T S R E O N L O A A E N Y N

D W M Y O S E S BLUECOAT ST T E S S R T T R R

T K F R NS TREET R EE T Scale: E PDE R E A E HAM S T E 0 50 100 E R T E T G

E R metres T

T E E T D VICTORIA A 4 O BUS R D A GOLDSM RD STATION N IO O SHA ION N Location KES UN U R P T E L ARE S STR 13 KS L ITH S EE O R E T S A E L W

O D M C T A

U S S GENERAL CEMETERY T T L TH P T N ANN’S

T H E S CHURCHN ST O C THE Z T H L NOTTINGHAM T A R S ST MARY’S REST CHAUCER STREET TRENT E S R G PERTH S U Located in the centre of the United Kingdom 125 miles A610 RWOO E UNIVERSITY D C GARDEN 11 L R HUNTINGDON STREET N A A D GOLDSMITH ST ALF 3 S W O S O ST RETON RD N 11 H H VICTORIA K D O north of London, Nottingham is served by 3 junctions of S C T SQ U I B R S Y R A INIT CENTRE S T TH T R E T E S STR E T EE MILTON STREET S T TREET T N T S T E O R K 10 THE D STT the M1 motorway (24-26). Transport communications are B E L CORNERHOUSE 14 R A609 ILK TA TALBO E A T TS ESTON RD STREE T W CANNING WOLLATON ST T ROYAL REET D CONCERT E EN CIRCUS G B HALL 4 TRINITY R DERBY IN O ST WALK K excellent. The city is directly linked to the East Coast Mainline KIN O ROA 6 WALK VICTORIA MAN CONV K T 15 THEA TRE GS D T FOR STR S B T H E H O ENT EET T LEISURE E ROYAL RLIAM R A L W R PA BY RD OLLATON STR LOWE E T NEW R L H EE CENTRE T T C DER C E H O T S IGST KING L R P O G BROAD STREET (London St Pancras 1 hour 45 minutes), Nottingham East U CAS E S A G A6200 W U T Q E M E TR E N N A S TR U I S O TLE T M B L L K E EN E B M E E A A R R H LI E D R R R N E TERRACE I A G O T E L P EET T C L R K S E O G E S STR Midlands Airport provides direct flights to 90 international O P E T COLN K L P T LIN T L U T S

E H ALBERT R G T S E S T E U S HALL GREYHOUN R T T T E R R BOSTON S RE 12 S STREET E T E CHAPEL L E T 8 T A E ING S BAR LO HEATHCOAT STREET E N N destinations and the city’s modern tram system carries an G T T R DL WELLINGTON OW D ANGEL WE D E GE CIRCUS ST LONGR OW GOOSEGATE HOCKLEY D 5 ROW STREET PELHAM R NOTTINGHAM LONG ROW THY ROW HIGH STREE LL SMI T N ST E estimated 9.5 million passengers every year. P PLAYHOUSE MAI COUNCIL RLTO L W A OLD CA O H HOUSE B W R ACK LANE UT T H E R MARKET OLP E E 9 CHEAPSIDE WO E O ST K D M L G T SQ TORIA ST ATE R S EN S RADE VIC W T T PA POULTRY WARSER G STONEY STREET EXCHANGE WK A

E S STH M P M

T R 7

T ARIAN A

ARY' R MAIDEN LN R LANE A H E 5 BOTTLE D NV R E

T NATIONAL R

E S A W W E

S ICE CENTRE R C R T B O JAMES’S E H I O E R S

E GA The Axis occupies a prominent position at the intersection T N E TE AND A R E WAY A P E G I S S A D E L L M T K TE E E ER’S L AT T REN TFM W TR R BARKER G R R PET E A R E L G ST ARENA E A TS IA AT S 3 E K E N P M 9 B T POSTERN ST N T R T E E U FLETCHER GATE T S F I HER GA A612 T of three of the city centre’s principal road ways; Upper PILC HAL S S O L H BYARD T S M ES’ E L S LAN PL IFAX G T MARY’S OA A P GATE BR D Y A A JAM A W R R T T N ST JAMES’S E E I N ST 8 E G DEA PLUMPTRE ST E Parliament Street, Maid Marian Way and Derby Road. L HOUNDS LOW A PAV T R GATE LISTER EMENT MAID MARIAN WAY DLE G T ET

O MID PAV OOTS TRE A E

E W EM STONE PENNYF T S TERR E E AN E T L NT GA M H HOLLOW HER S IG IS I F AR H P RI GATE GATE T D PA LLIH A V O F D EM NDS N EN NI L T HOU F MAL P E RE The location borders the city’s central business district and Key CASTLE O L R H A D 1 R I POPLAR STREET TE S L S PLO L PLUMPT D T SQ T ROA BROADMARSH N D LANEUGH TO CASTLE GA SHOPPING CLIFF ROA Nottingham’s main retail and leisure areas centred around E N C POPHAM STREET Royal Zone L A CENTRE S NOTTIN GHAM 10 T L CASTLE E Old Market Square. The Axis is 640m west of the Victoria R O TREET Victoria Zone COLLIN S TY LINK CIT KNILY A T CI D E 2 RE Shopping Centre. Clumber Street the prime retail pitch L ST B ROADMARSH NA L Lace Market Zone PEVERIL DRIVE 1 CA O BUSSTATION N

ALBION ST O T

N and Broadmarsh Shopping Centre is just 800m south. T R R

Castle Zone REE E AL ST O N

CAN A CARRINGTON STREET

ULEVARD T Broadmarsh Zone R footbridge E 5 CASTLE BO E ET Nottingham Trent University is situated 320m to the north, A600 T STATION STRE

WILFORD STREET off Goldsmith Street. NOTTINGHAM RAILWAY STATION 2 6 7 S R OAD L QUEEN’ O

Key A60 A453

Broadmarsh Shopping Centre 1 Nottingham Playhouse 5 Brian Clough Statue 8

Nottingham Railway Station 2 Royal Centre 6 Old Market Square 9 - Royal Concert Hall Victoria Centre 3 - Theatre Royal Robin Hood Statue 10

The Cornerhouse 4 Trent FM Arena 7 The Nottingham Trent University 11

City Map T H E

T H E

Aerials

Nottingham Trent University Campus

Cornerhouse

The Axis Derby Road

Upper Parliament Street

View 1 T H E

T H E

Aerials

View 2 T H E

T H E

Aerials

View 3 T H E

T H E

Scheme

The Axis

Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper Parliament Street. There are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces.

In addition to the freehold sale, the property is offered with the benefit of a long leasehold interest at a peppercorn rent in City Gate, Tollhouse Hill, which provides 98 of the 193 car spaces available across the development.

• Landmark mixed use investment • 192,680 sq.ft of A3, retail, office, casino and residential accommodation • 193 on site car parking spaces • Producing £1,894,696 per annum with reversionary potential T H E

T H E

Scheme

The Axis

• Four modern open plan retail/A3 units • Fronting busy thoroughfare of Upper Parliament Street • Let on four separate tenancies • Producing a sub income of £258,000 per annum T H E

T H E

Scheme

The Axis

In addition to the freehold sale, the property is offered with the benefit of a long leasehold interest at a peppercorn rent in City Gate, Tollhouse Hill, which CASINO provides 98 of the 193 car spaces available across the development.

• Nottingham’s largest Casino situated on basement, ground, and two upper levels • Extending to over 58,000 sq.ft of trading space • Marco Pierre White’s signature restaurant located within demise • Lease includes up to 95 basement car spaces with index linked rental income T H E

T H E

Scheme

The Axis

Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in

2003, The Axis has been comprehensively redeveloped THE POYNT and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper Parliament Street. There are also 18 Duplex Apartments (Sold off) at roof top level THE DSA as well as a total of 193 car parking spaces.

In addition to the freehold sale, the property is offered with the benefit of a long leasehold interest at a ST GEORGE’S peppercorn rent in City Gate, Tollhouse Hill, which HALL provides 98 of the 193 car spaces available across the development.

• 82,819 sq.ft of grade A office accommodation • Three distinct office buildings with their own characteristics. • The Axis- DSA, The Poynt and St. Georges Hall • 98 secure car spaces available to office occupiers. T H E

T H E

Scheme

The Axis

Formally a landmark Co-operative department store RESIDENTIAL and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper Parliament Street. There are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces.

• 18 Duplex two bed apartments • All with benefit of a car parking space • Providing panoramic views across Nottingham • Producing total fixed ground rents of £3,600 per annum T H E

T H E

Scheme

The Axis

Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure accommodation fronting Upper Parliament Street. There THE POYNT are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces.

• Large purpose built single level car park • Accessed off Wollaton Street immediately adjacent to The Axis • Held on 174 year ground lease at a peppercorn rent • Title Plan attached T H E

T H E

Scheme

The Axis

Formally a landmark Co-operative department store and acquired by Henry Boot Developments Limited in 2003, The Axis has been comprehensively redeveloped and refurbished to provide 192,680 sq.ft of mixed use commercial space including 82,819 sq.ft of prime office accommodation, 59,073 sq.ft of Casino and restaurant space and 13,959 sq.ft of A3 and leisure Leasehold Freehold accommodation fronting Upper Parliament Street. There Car Park are also 18 Duplex Apartments (Sold off) at roof top level as well as a total of 193 car parking spaces.

• The Axis development is sold with freehold title • Adjoining 98 space car park held on 174 year ground lease with effect from 25 March 1976 • Title reports and lease documentation are available in the data room. T H E

T H E

Scheme Retail

A3/Retail

Upper Parliament Street is a busy retail and leisure thoroughfare which links the city’s business district with the main retail areas of the city.

The Axis benefits from four open plan and well configured A3 and retail units which are let in accordance with the sub tenancy schedule below. Full financial information on the tenants is available in the data room.

The units provide a total floor area of 13,959 sq.ft ranging in size from 1,965 sq.ft to 6,342 sq.ft. All four units are fitted out by the occupiers to a high standard.

The passing rent across all four, ground floor units is currently £258,000 per annum equating to an overall rent of just £18 psf.

Based on surrounding evidence we estimate the market value to be £20 psf, which generates a Sub-ERV of £273,540 per annum. (Market evidence is available in the data room).

A3/Retail Tenancy Schedule

Car Park Area Review Current Address Level Tenant Allocation Lease WEF Expiry Next RR Rent PSF ERV ERV psf Comments Pattern Years Rent Sq.ft Sq.m Spaces Retail Upper PF Collections Rent review due 19th July 2014 Ground 2,572 239 - 10 years 20.07.2009 19.07.2019 5 yrly 19.07.2014 £45,000 £17.50 £51,440 £20 Parliament Street Limited (Notice not served)

Retail Upper Philpotts recently acquired by Patisserie Ground Philpotts Limited 1,965 183 - 15 years 24.06.2008 23.06.2023 5 yrly 24.06.2018 £40,000 £20.36 £40,000 £20 Parliament Street Valerie Spice Quarter Retail Upper (Nottingham) Surety from Mr Mingkam (5% discount for Ground 6,342 589 - 25 years 24.06.2006 23.06.2031 5 yrly 23.06.2016 £117,000 £18.45 £120,500 £19 Parliament Street Limited t/a quantum on ERV) £80,000 deposit held. Peachy Keens Retail Upper Arfan Razak t/a Recently assigned with Surety to Ground 3,080 286 - 20 years 24.06.2006 23.06.2026 5 yrly 23.06.2016 £56,000 £18.18 £61,600 £20 Parliament Street Curry Lounge Edward & Moore Ltd. 13,959 1,297 £258,000 £273,540 T H E

T H E

Scheme Retail

A3/Retail

Upper Parliament Street is a busy retail and leisure thoroughfare which links the city’s business district with the main retail areas of the city.

The units provide a total floor area of 13,959 sq.ft ranging in size from 1,965 sq.ft to 6,342 sq.ft. All four units are fitted out by the occupiers to a high standard.

The passing rent across all four, ground floor units is currently £258,000 per annum equating to an overall rent of just £18 psf.

Based on surrounding evidence we estimate the market value to be £20 psf, which generates a Sub-ERV of £273,540 per annum. (Market evidence is available in the data room).

A3/Retail Tenancy Schedule

T H E

Scheme Retail

A3/Retail

Upper Parliament Street is a busy retail and leisure thoroughfare which links the city’s business district with the main retail areas of the city.

The units provide a total floor area of 13,959 sq.ft ranging in size from 1,965 sq.ft to 6,342 sq.ft. All four units are fitted out by the occupiers to a high standard.

The passing rent across all four, ground floor units is currently £258,000 per annum equating to an overall rent of just £18 psf.

Based on surrounding evidence we estimate the market value to be £20 psf, which generates a Sub-ERV of £273,540 per annum. (Market evidence is available in the data room).

A3/Retail Tenancy Schedule

T H E

Scheme Retail

A3/Retail Ground floor (Upper Parliament Street) Upper Parliament Street is a busy retail and leisure thoroughfare which links the city’s business district with the main retail areas of the city.

The Axis benefits from four open plan and well configured A3 and retail units which are let in accordance with the sub ALEA tenancy schedule below. Full financial information on the THE POYNT tenants is available in the data room. (OFFICES) The units provide a total floor area of 13,959 sq.ft ranging in size from 1,965 sq.ft to 6,342 sq.ft. All four units are fitted out by the occupiers to a high standard.

The passing rent across all four, ground floor units is currently ALEA £258,000 per annum equating to an overall rent of just £18 psf.

Based on surrounding evidence we estimate the market value to be £20 psf, which generates a Sub-ERV of £273,540 per CURRY PF COLLECTIONS PHILPOTTS PEACHY KEENS LOUNGE annum. (Market evidence is available in the data room).

A3/Retail Tenancy Schedule

T H E

Scheme Casino

Casino

The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of £677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income.

The lease is reviewed to open market value on all the main floor space (59,073 sq.ft) however the car parking rent currently £101,619 per annum is index linked based on a compound growth rate of 2.5% per annum.

The car parking rent will therefore rise from £101,619 to £114,972 per annum in September 2016.

The passing rent attributable to the main accommodation is £575,437 per annum and equates to only £9.75 psf. We believe this element of the rent is reversionary. The next review is due in September 2016. The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room).

Casino Tenancy Schedule

Car Park Area Review Current Address Level Tenant Allocation Lease WEF Expiry Next RR Rent PSF ERV ERV psf Comments Pattern Years Rent Sq.ft Sq.m Spaces G - 2,813 G - 261 Casino Ground, £12 Total floor area 59,073 sq.ft (GIA) including 1 - 27,877 1 - 2,589 - 25 years 29.09.2006 28.09.2031 5 yrly 28.09.2016 £575,437 £9.75 £708,876 The Axis 1st, 2nd London Clubs (overall) car parks 2 - 28,383 2 - 2,636 International Plc Lease subject to 2.5% annual compound Car Park t/a Alea Basement 22,454 2,086 95 25 years 29.09.2006 15.08.2031 5 yrly 28.09.2016 £101,619 - £114,972 Fixed growth at rent review. 75 marked spaces- The Axis Tenant Valet Parking up to 95 spaces. 81,527 7,574 £677,056 £823,848 T H E

T H E

Scheme Casino

Casino

The car parking rent will therefore rise from £101,619 to £114,972 per annum in September 2016.

Casino Tenancy Schedule

T H E

Scheme Casino

Casino

The car parking rent will therefore rise from £101,619 to £114,972 per annum in September 2016.

Casino Tenancy Schedule

T H E

Scheme Casino

Casino

The car parking rent will therefore rise from £101,619 to £114,972 per annum in September 2016.

Casino Tenancy Schedule

T H E

Scheme Casino

Casino Lower ground floor

The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of £677,056 per annum on a 25 THE POYNT year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income.

The car parking rent will therefore rise from £101,619 to £114,972 per annum in September 2016.

The passing rent attributable to the main accommodation is £575,437 per annum and equates to only £9.75 psf. We believe this element of the rent is reversionary. The next CASINO ENTRANCE review is due in September 2016. The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room).

Casino Tenancy Schedule

T H E

Scheme Casino

Casino Upper ground floor

The Alea Casino is the largest Casino in Nottingham with direct access from both Upper Parliament Street and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Ground floor access Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street. Marco Pierre White Resturant The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of £677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income.

The car parking rent will therefore rise from £101,619 to £114,972 per annum in September 2016.

Casino Tenancy Schedule

T H E

Scheme Casino

Casino First floor The Alea Casino is the largest Casino in Nottingham with direct access from both Upper Parliament Street and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street.

The Casino occupy under one overriding lease to London Clubs International Plc (owned by Caesars Entertainment Corporation) at a total rent of £677,056 per annum on a 25 ALEA year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income.

The car parking rent will therefore rise from £101,619 to £114,972 per annum in September 2016.

Casino Tenancy Schedule

T H E

Scheme Casino

Casino ACCESS TO CAR PARK Car Park The Alea Casino is the largest Casino in Nottingham with direct access from both Upper Parliament Street and Wollaton Street. The accommodation is arranged over three trading levels and two lower level car parking areas. The Casino has a direct relationship with Marco Pierre White, who runs a fine dining restaurant at ground floor level off Wollaton Street.

The Casino occupy under one overriding lease to London Clubs International Plc (owned UPPER LEVEL by Caesars Entertainment Corporation) at a total rent of £677,056 per annum on a 25 year unbroken lease from September 2006, therefore providing over 17 years of part index linked secure income.

The car parking rent will therefore rise from £101,619 to £114,972 per annum in September 2016.

The passing rent attributable to the main accommodation is £575,437 per annum and LOWER LEVEL equates to only £9.75 psf. We believe this element of the rent is reversionary. The next review is due in September 2016. The tenant operates 9 casinos across the UK (market comparables and tenant accounts are available in the data room).

Casino Tenancy Schedule

T H E

Scheme Offices

Office Accommodation Part One - DSA

With a large ground floor reception located on Upper Parliament Street, the Driving Standards Agency exclusively occupy the whole of the third and fourth floors of the Axis Building, on two separate leases.

The accommodation which extends in total to 54,258 sq.ft provides modern “Grade A” open plan office accommodation split over two levels and centred around a large open plan atrium which helps unite the two levels into one large demise. Substantial alterations to link the two floors in this manner were undertaken by the current tenant prior to them taking occupation.

The offices are fitted to a high standard including: raised access floors, lighting to CIBSE guidelines LG7, three pipe VRF heat recovery comfort cooling/heating systems and Very Good rating under BREEAM offices 2006.

The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate Car Park.

The overall rent for this accommodation breaks back to less than £12psf including carparking providing excellent scope for future growth. Rental comparables and service charge information is available in the data room.

DSA Tenancy Schedule

Car Park Area Review Address Level Tenant Allocation Lease WEF Expiry Next RR Current Rent Rent PSF ERV ERV psf Comments Pattern Years Sq.ft Sq.m Spaces 30 (Located Offices Upper Third 28,202 2,620 in City 15 years 01.06.2007 31.05.2022 5 yrly 31.05.2017 £334,300 £11.85 £334,300 £11.85 - Parliament Street Gate)

The Secretary of State Option to break 31.05.2017 subject for Communities & to no less than 12 months written Local Government 30 (Located notice. The 3rd & 4th Floors are Offices Upper Fourth t/a DSA 26,056 2,421 in City 15 years 01.06.2007 31.05.2022 5 yrly 31.05.2017 £312,392 £11.98 £312,392 £11.98 fully intergrated to form one open Parliament Street Gate) plan demise. Extensive alterations would be required by the tenant to separate the suites.

54,258 5,041 £646,692 £646,692 T H E

T H E

Scheme Offices DSA

Office Accommodation Part One - DSA

The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate Car Park.

DSA Tenancy Schedule

54,258 5,041 £646,692 £646,692 T H E

T H E

Scheme Offices DSA

Office Accommodation Part One - DSA

The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate Car Park.

DSA Tenancy Schedule

54,258 5,041 £646,692 £646,692 T H E

T H E

Scheme Offices DSA

Office Accommodation Ground Floor Part One - DSA

The accommodation which extends in total to 54,258 sq.ft provides modern “Grade A” open plan DSA office accommodation split over two levels and centred around a large open plan atrium which helps unite the two levels into one large demise. Substantial alterations to link the two floors in this manner were undertaken by the current tenant prior to them taking occupation.

The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate Car Park. DSA The overall rent for this accommodation breaks back to less than £12psf including carparking providing excellent scope for future growth. Rental comparables and service charge information is available in the data room.

DSA Tenancy Schedule

54,258 5,041 £646,692 £646,692 T H E

T H E

Scheme Offices DSA

Office Accommodation Third floor Part One - DSA

The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate Car Park.

DSA Tenancy Schedule

54,258 5,041 £646,692 £646,692 T H E

T H E

Scheme Offices DSA

Office Accommodation Fourth floor Part One - DSA

The DSA occupy under two leases for a term of 15 years from June 2007 (see tenancy schedule below). The leases include the right to park 60 cars in the adjoining City Gate Car Park.

DSA Tenancy Schedule

54,258 5,041 £646,692 £646,692 T H E

T H E

Scheme Offices The Poynt

Office Accommodation Part Two - The Poynt

The Poynt is a self-contained office building facing onto Wollaton Street and arranged on basement, ground and four upper floor levels.

The building was fully refurbished and integrated into the Axis development in 2009. It has recently become vacant.

The accommodation provides ground floor reception, open plan floor plates, suspended ceilings, raised floors, air conditioning and an 8 person passenger lift to all floors. Floor Area Level Service charge costs across the property are very low. The Poynt can be Sq.m Sq.ft occupied as one demise, with St Georges Hall and is directly linked at levels Basement 222.8 2,398 two and three. However it is likely to re-let on a floor by floor basis. G 220.6 2,375 The offices benefit from 17 car spaces in the adjoining City Gate Car Park. 1 243.6 2,622 2 407.6 4,387 The Poynt was vacated by Tenon (now Baker Tilley) in July 2014 and will be 3 324.2 3,488 subject to a Henry Boot Plc company rent rates & service charge guarantee 4 314.4 3,384 as set out in the schedule below. Henry Boot are undertaking a refurbishment 5 316.1 3,403 of the space which will be complete by the end of September 2014. Total 2049.3 22,057 Letting details are available in the data room.

The Poynt Tenancy Schedule

Car Park Area Review Address Level Tenant Allocation Lease WEF Expiry Next RR Current Rent Rent PSF ERV ERV psf Comments Pattern Years Sq.ft Sq.m Spaces Subject to a two year rent, rates, and Basement, Vacant (Subject 17 (Located The Poynt service charge guarantee, £12 psf Ground, 4 to Henry Boot PLC 22,057 2,049 in City 2 years Completion - - £231,300 £12 £231,300 £12 Wollaton Street including carspaces £1000 pcs and Uppers guarantee) Gate) £5 psf storage space. 22,057 2,049 £231,300 £231,300 T H E

T H E

Scheme Offices The Poynt

Office Accommodation Ground floor Part Two - The Poynt

The Poynt is a self-contained office building facing onto Wollaton Street and arranged on basement, ground and four upper floor levels.

The building was fully refurbished and integrated into the Axis development in THE POYNT DSA 2009. It has recently become vacant.

The accommodation provides ground floor reception, open plan floor plates, suspended ceilings, raised floors, air conditioning and an 8 person passenger lift to all floors.

Service charge costs across the property are very low. The Poynt can be occupied as one demise, with St Georges Hall and is directly linked at levels two and three. However it is likely to re-let on a floor by floor basis.

The offices benefit from 17 car spaces in the adjoining City Gate Car Park.

The Poynt was vacated by Tenon (now Baker Tilley) in July 2014 and will be subject to a Henry Boot Plc company rent rates & service charge guarantee as set out in the schedule below. Henry Boot are undertaking a refurbishment of the space which will be complete by the end of September 2014.

Letting details are available in the data room.

The Poynt Tenancy Schedule

T H E

Scheme Offices The Poynt

Office Accommodation Typical floor plan Part Two - The Poynt

The Poynt is a self-contained office building facing onto Wollaton Street and arranged on basement, ground and four upper floor levels.

The building was fully refurbished and integrated into the Axis development in THE POYNT DSA 2009. It has recently become vacant.

The accommodation provides ground floor reception, open plan floor plates, suspended ceilings, raised floors, air conditioning and an 8 person passenger lift to all floors.

The offices benefit from 17 car spaces in the adjoining City Gate Car Park.

Letting details are available in the data room.

The Poynt Tenancy Schedule

T H E

Scheme Offices St George’s Hall

Office Accommodation Part Three - St Georges Hall

St Georges Hall is a self-contained period office building with its own entrance off Upper Parliament Street and is arranged over first, second third and fourth levels. The accommodation can connect (if required) directly to the Poynt at second and third floor level.

The property retains many of its original features but has been tastefully refurbished to provide modern open plan office accommodation.

The space is currently vacant having been recently vacated by Tenon (now Baker Tilley). Floor Area Level Sq.m Sq.ft The space is fully carpeted with feature lighting, comfort cooling, carpeting 1 193.5 2,083 and LG3 lighting. 2 198.2 2,133 The offices benefit from 3 car parking spaces available in the adjoining City 3 212.6 2,288 Gate Car Park. Total 604.3 6,504 The accommodation will be subject to a Henry Boot Plc company rent, rates and service charge guarantee as set out in the schedule below.

Letting details are available in the data room.

St Georges Hall Tenancy Schedule

Car Park Area Review Address Level Tenant Allocation Lease WEF Expiry Next RR Current Rent Rent PSF ERV ERV psf Comments Pattern Years Sq.ft Sq.m Spaces St Georges Hall Ground Vacant (Subject 3 (Located Subject to a two year rent, rates, and Upper Parliament (Ent), 1st, to Henry Boot PLC 6,504 604 in City 2 years Completion - - £78,048 £12 £78,048 £12 service charge guarantee, £12psf Street 2nd & 3rd guarantee) Gate) including 3 car spaces.

6,504 604 £78,048 £78,048 T H E

T H E

Scheme Offices St George’s Hall

Office Accommodation Ground floor Part Three - St Georges Hall

The property retains many of its original features but has been tastefully refurbished to provide modern open plan office accommodation.

The space is currently vacant having been recently vacated by Tenon (now Baker Tilley).

The space is fully carpeted with feature lighting, comfort cooling, carpeting and LG3 lighting.

The offices benefit from 3 car parking spaces available in the adjoining City Gate Car Park.

The accommodation will be subject to a Henry Boot Plc company rent, rates and service charge guarantee as set out in the schedule below.

Letting details are available in the data room.

St Georges Hall Tenancy Schedule

6,504 604 £78,048 £78,048 T H E

T H E

Scheme Offices St George’s Hall

Office Accommodation Third floor Part Three - St Georges Hall

The property retains many of its original features but has been tastefully refurbished to provide modern open plan office accommodation.

The space is currently vacant having been recently vacated by Tenon (now Baker Tilley).

The space is fully carpeted with feature lighting, comfort cooling, carpeting and LG3 lighting.

The offices benefit from 3 car parking spaces available in the adjoining City Gate Car Park.

The accommodation will be subject to a Henry Boot Plc company rent, rates and service charge guarantee as set out in the schedule below.

Letting details are available in the data room.

St Georges Hall Tenancy Schedule

6,504 604 £78,048 £78,048 T H E

8 fully furnished duplex apartments with secure parking

43 Wollaton Street, Nottingham NG1 5FW

T H E

Scheme Residential

Residential Apartments T H E 8 fully furnished duplex apartments Located at roof level and offering panoramic views of the with secure parking Nottingham skyline are 18 two bed duplex residential apartments, 43 Wollaton Street, all of which have been sold off on 125 year leases to a variety of Nottingham NG1 5FW occupiers and investors. The Axis duplex show apartment. There are 18 separate ground rents producing a total income of £3,600 per annum (£200 per apartment). The apartments have their own dedicated entrance off Wollaton Street along with private lobby and lift access.

At the current time the vendor manage the individual ground rents directly and the services relevant to the apartments form part of the wider service charge provision. A copy of the service charge accounts are available in the data room.

Residential Tenancy Schedule The Axis duplex show apartment. Front Elevation - Upper Parliament Street. Car Park Area Review Address Level Tenant Allocation Lease WEF Expiry Next RR Current Rent Rent PSF ERV ERV psf Comments Pattern Years Sq.ft Sq.m Spaces Residential Ground Rent & Henry Boot The Axis duplex show apartment. A full schedule of under tenants is Roof Level 14,375 1,335 18 125 years 01.01.2000 31.12.2124 - - £3,600 £200 £3,600 £200 Management Developments Ltd available in the data room Lease 14,375 1,335 £3,600 £3,600

The Axis duplex show apartment. Front Elevation - Upper Parliament Street. T H E

T H E

Scheme Residential

Residential Duplex Apartments Plan North Facing Ground Floor Wollaton Street Entrance Apartments >

Located at roof level and offering panoramic views of the 18 16 14 12 10 8 6 4 2 Nottingham skyline are 18 two bed duplex residential apartments, all of which have been sold off on 125 year leases to a variety of occupiers and investors. Common Area

There are 18 separate ground rents producing a total income 19 17 15 11 9 7 5 3 1 of £3,600 per annum (£200 per apartment). The apartments have their own dedicated entrance off Wollaton Street along with private lobby and lift access.

At the current time the vendor manage the individual ground South Facing rents directly and the services relevant to the apartments form Fifth Floor - Lower Level part of the wider service charge provision. A copy of the service charge accounts are available in the data room. North Facing Ground Floor Wollaton Street Entrance >

18 16 14 12 10 8 6 4 2

19 17 15 11 9 7 5 3 1

South Facing Sixth Floor - Upper Level T H E

T H E

Scheme Car Park

Long Leasehold Car Park - City Gate Tollhouse Hill

Along with the freehold interest of The Axis scheme, the investment is offered with the benefit of an adjacent long leasehold interest in a purpose built underground car park which forms part of the Multi Storey City Gate Tollhouse Hill office scheme.

The car park is located immediately adjacent to the Axis with the primary entrance off Wollaton Street. Car Park The lease is for a term of 174.25 years with effect from 25th March 1976 at a peppercorn rent.

The car park itself provides 98 well configured spaces a full layout plan is attached.

Layout Plan T H E

T H E

Scheme Car Park

Long Leasehold Car Park - City Gate Tollhouse Hill

The car park itself provides 98 well configured spaces a full layout plan is attached.

Title Plan T H E

T H E

Tenancy

Tenancy Schedule

Area Car Park Review Address Level Tenant Allocation Lease WEF Expiry Pattern Next RR Current Rent ERV ERV psf Comments Years Rent PSF Sq.ft Sq.m Spaces

Retail Upper Ground PF Collections Limited 2,572 239 - 10 years 20.07.2009 19.07.2019 5 yrly 20.07.2014 £45,000 £17.50 £51,440 £20 Rent review notice due 19th July 2014 not served. Parliament Street

Retail Upper Ground Philpotts Limited 1,965 183 - 15 years 24.06.2008 23.06.2023 5 yrly 24.06.2018 £40,000 £20.36 £40,000 £20 Philpotts recently acquired by Patisserie Valerie Parliament Street

Spice Quarter Restaurant Upper Surety from Mr Mingkam (5% discount for quantum Ground (Nottingham) Limited t/a 6,342 589 - 25 years 24.06.2006 23.06.2031 5 yrly 24.06.2016 £117,000 £18.44 £120,500 £19 Parliament Street on ERV) (£80,000 deposit held) Peachy Keens

Restaurant Upper Arfan Razak t/a Curry Lease recently assigned to Edward & Moore Ltd Ground 3,080 286 - 20 years 24.06.2006 23.06.2026 5 yrly 24.06.2016 £56,000 £18.18 £61,600 £20 Parliament Street Lounge with a director surity.

G - 2,813 G - 261 Ground, 1st, £9.74 £12 Total floor area 59,073 sq.ft (GIA) excluding Casino The Axis 1 - 27,877 1 - 2,589 - 25 years 29.09.2006 28.09.2031 5 yrly 29.09.2016 £575,437 £708,876 2nd (overall) (overall) basement car parks London Clubs International 2 - 28,383 2 - 2,636 Plc t/a Alea (single lease) Rental attributable to car park demise subject to Car Park The Axis Basement 22,454 2,086 95 25 years 29.09.2006 28.09.2031 5 yrly 29.09.2016 £101,619 Fixed £114,972 Fixed 2.5% annual compound growth at rent review.

The Secretary of State Offices Upper 30 (Located in Third for Communities & Local 28,202 2,620 15 years 01.06.2007 31.05.2022 5 yrly 01.06.2017 £334,300 £11.85 £334,300 £11.85 - Parliament Street City Gate) Government t/a DSA

The Secretary of State Option to break 31.05.2017 (12mths notice). 3rd/4th Offices Upper 30 (Located in Fourth for Communities & Local 26,056 2,421 15 years 01.06.2007 31.05.2022 5 yrly 01.06.2017 £312,392 £11.98 £312,392 £11.98 Floors fully intergrated forming open plan demise. Parliament Street City Gate) Government t/a DSA Extensive alterations required to separate the floors.

Basement, From Subject to a two year rent, rates, and service The Poynt Wollaton Vacant (Subject to Henry 17 (Located in Ground, 4 22,057 2,049 2 years completion of - - - £231,300 £12 £231,300 £12 charge guarantee, £12 psf including carspaces Street Boot PLC guarantee) City Gate) Uppers purchase and £5 psf storage space.

From St Georges Hall Upper Ground( Ent), Vacant (Subject to Henry 3 (Located in Subject to a two year rent, rates, and service charge 6,504 604 2 years completion of - - - £78,048 £12 £78,048 £12 Parliament Street 1st, 2nd & 3rd Boot PLC guarantee) City Gate) guarantee, £12 psf including carspaces. purchase

Residential Ground Henry Boot Developments 125 A full schedule of undertenants is available in Rent & Management Roof Level 14,375 1,335 18 01.01.2000 31.12.2124 - - £3,600 £200 £3,600 £200 Ltd years the data room Lease

192,680 17,901 193 £1,894,696 £2,057,028

Accessed off Wollaton Street the lease includes City Gate, Tollhouse Henry Boot Developments 174.25 Basement 73,033 6785 90 25.03.1976 16.06.2150 - - Peppercorn - - - the entire upper basement level and provides car Hill, Car Park Ltd years parking for 98 cars T H E

T H E

Proposal

Data room

A comprehensive data room has been created from which interested parties can download or view leases, title information, floor plans, tenant accounts, EPC certificates, and other relevant documentation. Click here to access

EPC

A full copy of the EPC (rated within band E) can be viewed in the data room.

Warranties

A comprehensive package of design and construction warranties will be assigned to the purchaser.

VAT

The property is elected for VAT. It is anticipated that the transaction will be treated as a Transfer of a Going Concern.

Proposal

We are seeking offers for our clients interest in excess of £26,000,000 (Twenty Six Million Pounds) subject to contract and exclusive of VAT. A purchase at this level would provide a net initial yield of 6.9% rising to 7.5% with an equivalent yield of 7.77% (quarterly in advance) assuming normal acquisition costs. T H E

T H E

Contact

For further information or to arrange an inspection please contact:

Chris Jones

T: 07957 138004

Chris Dudhill

T: 07931 743643

Jonathan Emmerson

heb T: 0115 979 3490 M: 07977 556 070

Information contained within this ibrochure and supporting marketing material is, to the best of our knowledge, correct at the time of writing. Interested parties are advised to check all aspects pertaining to any proposal prior to entering into negotiations. Christopher Dee & Heb Surveyors LLP and its consultants will not be held liable for any expense or loss incurred in the preparation of response documents and will not be bound to accept any proposal. IMPORTANT: These particulars do not form part of any contract. Neither Christopher Dee & Heb Surveyors LLP nor any of its directors, employees or agents is authorised to give or make any warranty or representation on behalf of any part. Whilst information and particulars are given in good faith, intending purchasers or tenants must satisfy themselves independently as to the accuracy of all matters on which they intend to rely. Some photography and images in this brochure are representative only and have been purchased by Christopher Dee and Heb Surveyors LLP. All negotiations are subject to contract. Designed by i-brochure.com. Ph: 07875060424. September 2014.