Modern Forecourt Convenience Investment with fixed rental uplifts

ESSO RONTEC PETROL FILLING STATION WATLING STREET I MUCKLEY CORNER I I WS14 0BH ESSO RONTEC WATLING STREET I MUCKLEY CORNER 02 PETROL FILLING STATION LICHFIELD I STAFFORDSHIRE I WS14 0BH

INVESTMENT SUMMARY Investment Summary

• Highly accessible location approximately 15 LOCATION miles (24 km) to the north of Birmingham, at the heart of the UK’s national motorway network, SITUATION with convenient access to the M6 (Toll), M6, M42 and M1

AERIAL • Prominent site on the busy roundabout junction of Watling Road (A5) and Road (A461)

DESCRIPTION • Modern petrol filling station and convenience store comprising approximately 96 sq m (1,033 sq ft) on a 0.61 acre site TENANCY • Let to Rontec Properties (No.4) Limited with a guarantee from Rontec Roadside Retail TENANT’S COVENANT Limited (Dun & Bradstreet rating 5A1), with a Net Worth in excess of £500m TENURE • Lease expiring 24 December 2039, without break, providing an unexpired term of VAT approximately 18.75 years

• Producing an income of £101, 439 per annum EPC (the vendor will top up to June 2021 fixed uplift)

• Annual 2% fixed rental uplifts thereafter ANTI-MONEY LAUNDERING • Freehold

PROPOSAL Proposal

CONTACT We are instructed to seek offers in excess of £1,660,000 (One Million, Six Hundred and Sixty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 5.75%, assuming purchaser’s costs of 6.16%. ESSO RONTEC WATLING STREET I MUCKLEY CORNER 03 PETROL FILLING STATION LICHFIELD I STAFFORDSHIRE I WS14 0BH

STOKE-ON-TRENTTRENT AshbourneAshbourne

NOTTINGHATTINGHAMM INVESTMENT SUMMARY Location A50 Derby Situation GranthaGranthamm MarketMatket M6 Drayton Lichfield is a cathedral city situated M1 The property is prominently situated on LOCATION Burton approximately 15 miles (24 km) north of A41 STAFFORD upon Trent A46 the busy roundabout junction of Watling LLoughborougoughborough MeltonMelton Birmingham, 23 miles (37 km) south west A38 Ashby-Ashby-de-la-Zouch Mowbray Street (A5) and Walsall Road (A461), SITUATION of Derby and 41 miles (66 km) south east close to the A38 junction of the M6 Toll, Cannock LICHFIELD of Stoke-on-Trent. The city is strategically Oakhamapproximately 3 miles (5 km) south west TeTelforlford M6TOLL M54 located at the heart of the UK’s national TTaamwormworth LEICESLEICESTETER of Lichfield city centre. AERIAL Wolverhampton motorway network providing convenient A5 M42 M69 The A38, situated to the east of the site, access to the M6 (Toll), M6, M42 and M1. A6 Bridgnorth links with the M6 (Toll) and the M42 to DESCRIPTION NuneatonNuneaton The area is served by various key arterial the south, providing a gateway to the M6 routes including the A38 which provides BIRMINGHAM wider midlands and south east. The A38 Coventry TENANCY access to Burton-upon-Trent and Derby Kidderminster A14 KETTERINfurtherG provides efficient access to the Rugby to the north east, and the A5 situated to M42 north via the A50, which links the M1 A46 M45 the south, which connects the M6 to the A456 and M6 Motorways. TENANT’S COVENANT RedditchRedditch M1 west, with the M42 in the east. M5 M40 NORNORTTHAMPHAMPTON There are regular train services TENURE from Lichfield Trent Valley station to A460 Birmingham New Street and London A34 A51 VAT Euston, with a fastest journey time of CANNOCK A38 40 minutes and 1 hour 16 minutes, respectively. Birmingham International EPC LICHFIELD Airport is located approximately 20 miles (32 km) to the south of Lichfield. T7 ANTI-MONEY LAUNDERING T8 M6TOLL T6 Walsall Road A5

PROPOSAL Brownhills Watling Street T5

M54 CONTACT A34 T4

A461 A38 Bloxwich A452 M6TOLL M6

WALSALL Sutton Coldfield ESSO RONTEC WATLING STREET I MUCKLEY CORNER 04 PETROL FILLING STATION LICHFIELD I STAFFORDSHIRE I WS14 0BH

LICHFIELD

INVESTMENT SUMMARY TAMWORTH TO M42 (S) LOCATION

SITUATION

AERIAL

DESCRIPTION

TENANCY A461 A5 WALSALL ROAD WATLING STREET M6 TOLL TENANT’S COVENANT

TENURE

VAT

EPC

TO M6 (N) ANTI-MONEY LAUNDERING

PROPOSAL

CONTACT

A5 A461 WATLING STREET WALSALL ROAD

TELFORD WALSALL ESSO RONTEC WATLING STREET I MUCKLEY CORNER 05 PETROL FILLING STATION LICHFIELD I STAFFORDSHIRE I WS14 0BH

INVESTMENT SUMMARY Description

The subject property comprises a purpose- LOCATION built petrol filling station and convenience store facility. The fuel forecourt supports SITUATION six pumps within a three-island layout providing unleaded, diesel and premium unleaded grades of fuel beneath a AERIAL rectangular shaped canopy.

The site is accessed via the A5 Muckley DESCRIPTION Corner roundabout between Hall Lane and Walsall Road (A461). The petrol TENANCY forecourt provides additional parking for the convenience store. The site has an approximate area of 0.25 hectares TENANT’S COVENANT (0.61 acres).

TENURE

VAT

EPC

ANTI-MONEY LAUNDERING

PROPOSAL

CONTACT ESSO RONTEC WATLING STREET I MUCKLEY CORNER 06 PETROL FILLING STATION LICHFIELD I STAFFORDSHIRE I WS14 0BH

INVESTMENT SUMMARY Tenancy Tenant’s Covenant

The property is let to Rontec Properties (No.4) Limited, Rontec is a market leading operator in the UK forecourt industry operating from 260 petrol stations across LOCATION guaranteed by Rontec Roadside Retail Limited until 24 and Wales, under the Esso, BP, Texaco and Shell brands. The company was formed in 2011 to acquire the assets December 2039, at a current rent of £99,450 per annum. of Total Oil UK and has grown substantially over the previous decade acquiring significant site packages from Esso, SITUATION The rent is subject to 2% fixed annual increases, rising to Co-op and BP. £101,439 per annum on 21 June 2021. The vendor will In July 2015, the company merged with Snax 24, another fuel retailing business created by Gerald Ronson, who top up to the June 2021 rental uplift. AERIAL heads the group. Rontec acquired a further package of 40 sites from Co-op in 2016, and an additional 11 sites Rontec originally assigned the lease from Co-operative in 2019, ensuring the group is now the third largest independent operator in the UK market. Foodstores Limited and Co-operative Group Food DESCRIPTION Rontec Properties (No.4) Limited have a Dun & Bradstreet rating of 2A2. The latest published accounting information Limited in October 2016 and recently regeared the lease, is as follows:- extending the term by a further 12.5 years to December TENANCY 2039, demonstrating their commitment to the site. 30 September 2019 30 September 2018 30 September 2017 The tenant also benefits from a further option to renew the lease for an additional 5 years. As part of the Turnover £3,574,000 £3,931,000 £3,757,000 TENANT’S COVENANT transaction the rent was rebased. Pre-Tax Profit (£464,000) (£1,858,000) £8,547,000

TENURE Total Net Worth £3,973,000 £4,499,000 £6,716,000 Rontec Roadside Retail Limited have a Dun & Bradstreet rating of 5A1 . The latest published accounting information VAT is as follows:-

30 September 2019 30 September 2018 30 September 2017 EPC Turnover £1,292,192,000 £1,251,371,000 £1,229,857,000 Pre-Tax Profit £68,074,000 £27,345,000 £27,883,000 ANTI-MONEY LAUNDERING Total Net Worth £502,795,000 £170,315,000 £126,845,000 PROPOSAL +40 CONTACT sites Acquired from Co-op in 2016 Rontec formed +11 260 3rd additional sites petrol stations aCross largest independent 2011 in 2019 england & wales operator in the UK market ESSO RONTEC WATLING STREET I MUCKLEY CORNER 07 PETROL FILLING STATION LICHFIELD I STAFFORDSHIRE I WS14 0BH

INVESTMENT SUMMARY Tenure EPC

Freehold. An EPC is available upon request. LOCATION

SITUATION VAT Anti-Money Laundering

The property has been elected for VAT In accordance with the Money AERIAL and it is anticipated that the transaction Laundering, Terrorist Financing and will be treated as a Transfer of a Going Transfer of Funds (Information on the DESCRIPTION Concern (TOGC). Payer) Regulations 2017, the Purchaser will be required to comply with our Anti-Money Laundering policy. TENANCY Further details on request.

TENANT’S COVENANT

TENURE

VAT

EPC

ANTI-MONEY LAUNDERING

PROPOSAL

CONTACT ESSO RONTEC WATLING STREET I MUCKLEY CORNER 08 PETROL FILLING STATION LICHFIELD I STAFFORDSHIRE I WS14 0BH

INVESTMENT SUMMARY Proposal Contact

We are instructed to seek offers in excess For further information please contact:- LOCATION of £1,660,000 (One Million, Six Hundred and Sixty Thousand Pounds), subject to Rick Mcintosh-Whyte SITUATION contract and exclusive of VAT. A purchase 07917 536613 at this level reflects a Net Initial Yield [email protected] of 5.75%, assuming purchaser’s costs AERIAL of 6.16%. Martin Carey 07774 112146 DESCRIPTION [email protected]

TENANCY

TENANT’S COVENANT

TENURE

VAT

EPC Rapleys LLP is registered as a Limited Liability Partnership in England and Wales. Registration No: OC308311. Registered Office at Falcon Road, Hinchingbrooke Business Park, Huntingdon PE29 6FG. A full list of Members is ANTI-MONEY LAUNDERING available on our website or at any of our offices during normal business hours. Rapleys LLP operates an Environmental Management System which complies with the requirements of ISO 14001:2004. Regulated by RICS. PROPOSAL Any maps are for identification purposes only and should not be relied upon for accuracy. Reproduced by permission of Geographers A-Z Map Co. Ltd. Licence No. A0203. This product includes mapping data licensed from Ordnance CONTACT Survey - © Crown Copyright 2001. Licence No. 100017302 and © Crown Copyright. All rights reserved. Licence No. ES 100004619. Misrepresentation Act: These particulars are produced in good faith and believed to be correct. Neither Rapleys, their joint agents (where applicable) or their client guarantees their accuracy and they are not intended to form any part of a contract. No person in the employment of Rapleys or their joint agents has authority to give any representation or warranty in respect of this property. All prices or rents are quoted exclusive of VAT. April 2021. carve-design.co.uk 15048/3