99 FISHERGATE, PR1 2AE PRIME LISTED FREEHOLD HIGH YIELDING BANK INVESTMENT LET TO SKIPTON BUILDING SOCIETY Investment Summary r Prime trading location within the established banking quarter for the City r A Listed Building with the benefit of a separate access to the upper parts. r The Skipton Building Society currently sublet the first and second floors which on renewal offer a residential redevelopment opportunity, subject to obtaining the necessary planning and Listed Building consents. The sub- tenancies are outside the security and tenure provisions of the Landlord & Tenant Act. r An effective full repairing and insuring lease on the entire to Skipton Building Society for a term of 25 years from 21 September 1994, subject to 5 yearly upward only rent reviews at a current rental of £125,000 p.a.x. r A low capital value of £159.63 psf (£14.82 psm). r The Skipton have traded from this property for nearly 25 years. r The property has been registered for VAT purposes and it is assumed that the transaction will be dealt with as a TOGC. r Freehold. r We are instructed to seek offers in excess of £950,000 subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 12.45% after deducting purchaser’s costs of 5.69%. Location

The City of Preston is the principal commercial and administrative centre for and is the third largest City in the North West of England. Preston is situated 12 miles (19.3km) southeast Museums, Arts & Shopping Landmarks & Parks Transport Information Miscellaneous Entertainment Cannon Street E3 Arkwright’s House F3 Bus Station F2 County Hall C4 Cotton Court G3 of , 30 miles (48.3km) northwest of and 35 miles (56.3km) northeast of 53 degrees C1 Fishergate Shopping Centre D4 Park E5 Park & Ride Parking A4,J5 Lancashire Records Office C3 Driving Theory Test Centre E4 . Frog & Bucket Comedy Club F3 Friargate D2,E3 Avenham Pavilion E6 Park & Ride Town Hall F3 Post Office D4 Guild Hall & Charter Theatre F3 Fishergate D3,E3 Flag Market E3 Pick up C4,D4,E3,F2,F3,H3 Visitor Information Centre F3 University of Central & Art Galler y F3 Guild Hall Street E3 Harris Institute E5 Railway Station C4 Lancashire (UCLan) C1,C2 LocationPreston benefits from excellent road communications with the M6, M61, M65 and M55 motorways Korova D3 Lune Street D3 Miller Arcade F3 Shopmobility E3 all within 4 miles (6.4km) of the City centre, linking directly to the national motorway network. H2 Markets E2 Miller Park D6 Taxi Ranks C4,F3,F2 Liverpool is the 6th largest city in the UK with a population of approximately 450,000 and is the principal Playhouse Theatre D2 Miller Arcade F3 Preston Minster F3 PR1 Gallery C1 St George’s Shopping Centre E3 St Walburge’s Church B1 Map Key commercial centre for . The city has a primary catchment population of 1.1 million, ranking it 7th Preston Railway Station is located at the western end of Fishergate and provides a frequent and The Continental C6 Winckley Street E4 E4 Please see reverse out of the PROMIS centres in terms of catchment. Preston direct service to London Euston (2 hrs 9 mins), Manchester Piccadilly (40 mins) and Edinburgh Liverpool has excellent road communications. The M62 provides aA fast link from Merseyside to Bthe M6, C D E F G H I J (2 hrs 29 mins). approximately 12 miles to the east. The M57 Bypass, to the northeast of the conurbation, connects the M62 T REE ST L ON Police Division A to the M58. Two toll tunnels, beneath the River Mersey, provide direct links to the Wirral and the M53. GT N N T D ) RI ) Headquarters C E A6063 Towards B6243 Towards

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Manchester International Airport, one of Europe’s fastest growing airportsH is located approximately T S Preston North End Longridge EE T G R (B Public transport within the Liverpool area is well established. Mersey Rail operates two popular services, 0 TR E P E A S N T N I W E E 5 W R L T O D O O U F CRO L H D A N D A E A F

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33 miles (53.1km) south of the City centre. There is also direct access from Preston Railway StationL L R H T N the Wirral and Northern Lines. They provide a suburban rail network and link the city’s principal railway R

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N D A S E L R D A W R B stations. In addition, rail services to London Euston are available in approximately 2 hours and 40 minutes. R A D T B S to the airport with a journey time of approximately 1 hour. E W N E I B O L O R T

E I A S O ( T N Moor Park R T S A T A S A E E N R O H R RE T D ET 6 ST S D E K O N B T T Liverpool John Lennon Airport is one of Europe’s fastest growing airports. It is located 8 miles to the south A H ) W P T Z O R O LI D A T Lancashire ( T A ( A S E ME U E E S E E A 5 M T D L R N ’ T T 6 of the city centre. In addition, Manchester airport is within 1 hour’s drive time of Liverpool city centre. 8 R LU S S Infantry Museum E 0 W 3 R T ) E O S 6 ) E T A LL PEDDER A E 3 3 IN STREET D G ET ) 4 TO TRE 2 N S D ER S 6 T ROA ALK Combined ST M RE LAND W R (B ET MAUD Courts I WALKER STREET NG E W N A S Magistrates A A R N Y L 12 ( Y L O A ’ A585 E Court D C 5 N S S ) W R A I 9 O 9 M65 G K R ) A5 IR T ( T L 3 H H K T E A583 32 S I I E R N M55 A671 T I T S L A 1 GRE L M HMP E L 11 O A H 4 T S R L A59 Towards A59 HAW L B E L ST O E L A666 A680 W N RE E

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Preston 6 R S T 2 O G E E Blackburn L F E T E A T T ( ) D T R R M6 J31 /M61 A6 A56 A682 A646 W R PRESTON A646 T E Bus T S P S P E E S 30 ROA 1/26 T St Johns O T Halifax A58 O E Y Station L C 5 R R T Brockholes A59 29A Market Shopping E R E L E 1A 9/2 4 D A 3 M65 E M606 S P 29/1 T Quarter A Centre Nature Reserve T T E I N A6025 N O R 28 LA N C E 25 H A ARS K E Cemetery M T S L T S S A T TREE A644 T T W E S D E ’S 8 LODG R R M D A565 R OR 24 E A A L Town T C E H R Southport 23 C R C E O T O H M6 A666 R K E T Hall U T O E A R O F R T RI T D S N A C COU 1 22 R S A6 GA H H T T C M66 M62 E R R R M61 A62 U A570 A59 A49 ) O H T A56 9 W C NE 21 5 L A565 A673 H LA A640 W 27 ARS A58 2 A58 (A G O M 9) 20 99 FISHERGATE R N IE (AA558 Y I V AY 3 Demographic & EconomicA Profile M D 6 RINGBoltoW n 19 W S O S A670 G L H E N U A T N L 3 OAD A664 I St George’s M W E T R G R N E O 5 BO ERRAR T A R Skelmersdale AL E S R H T 4/18 D S ETA62 E Shopping Miller N T O 4 TRE T S K 4 19 S C R M61 20 The age profile of the Liverpool Eprimary catchment includes a high proportion of young H A C 3 6/26 3 F Centre E N A565 5 R T Arcade D A59 2 M60 O E E E O M58 21 P T R S A58 1/15 B T T E R 22 X E T I U ( M6 O adults Taged between 15–24. In contrast,S older working aged adults aged 45–64 are under S E B A E Preston T 1 A56 S R Q 14 W T S 6 A579 N T D A A T R A570 S E ) 25 A62 T O Minster R O L 13 L EE I T represented.R T B B T A A S A S T Y 7 RA628 R E G O D N HU A AT N G N 1/12 RT E RG L Y 24 A580 A E G L PH Manchester E C E B E R SH T B I O L 23 F W E ORG UI A O A Liverpool A5036 6 11 Trafford T O A T 23 With over 50,000 students at its three universities, Liverpool has one of theV largest N S A580 MANCHESTER I N N 5 Centre P N LD L E S SH K Bay A59 10 N T L E S 4 R C I A580 St Helens 9 A56 R E R A565 M6 24 1 2 M67 HAL O C P H M62 3 student populations in the OUK. K E O K N S OU R R T M57 C L A R T I T A R E N A58 22 8 M60 H S D L L S S C E 3 11 7 A560 Y R C E R E A5058 T O A34 E R 2 25 A T T 10/21A A57 6 Whilst the Local Authority is the largest single employerS in the LiverpoolR area, the S A LIVERPOOL U Liverpool A57 9 T T S C 1 26 T E E R R N 27 S M62 A56 5 E LA S T 1 E E 4 5 4 T T M T T E Albert 7 Financial and Business Services sector also account for an above average proportion of A 2 M62 1/6 21 1/3 2 S H TR Warrington H 2 Fishergate S N A S Dock A 3 T YKE VE U R T W STRE A M6 E Shopping ET S ES Birkenhead A557 T 4 E jobs. Employment is concentrated within a numberC of majorI firms such as Royal Liver T A5300 S M T IN TR M N I A S A562 A50 T A56 S H N Cardinal J G 5 L Centre C H 3 O R H IL ’ G BMX Park T C BU AP K ET S I R U A561 Widnes A 7 7 O 6 U A6 H Assurance, RSA, Barclays Bank, HSBC, Sony and Virgin Media. There is RalsoE a large Newman LE 20 N M56 N RO H L T R A56 C N GR H M53 C E E S T O D T T E S S 20/9 S H T Y S Colleg e A 4 I A LER O A T A556 L E Manchester R R E A41 H G R D M R A C pharmaceutical sector in Liverpool, with vaccineS manufacturersS EliC Lilly andA Novartis T E 4 R E AirporDt I Winckley T R 10 O T S Q E A M6 E S T A34 A523 R N Liverpool A A R Runcorn 11 H S TR U E T S T Square V C E River Dee John Lennon D S A S E A50 I being majorI employers. T ENH H T A E C N F R R E N E Airport ( 19 E H T E 12 N Preston T A T T R E A E S Fishwick E E A L O I O R B A B TE 5 6 5 E L T R D R B E 7 Ellesmere Railway T M E L S 8 0 T B D A R R N Nature LiverpoolO is an important destination for tourists. According the Mersey Partnership, H E 7 M S M56 A6 A623 A O S C R S E C Port 2 A Station A S E 9 S IR C T O Reser ve ) D T M A49 A537 T S K R A A R M53 A E D J O A550 more than 27 million people visited the city in 2008, generating an estimatedT S£617 million O L 14 R OW S E A L 10 A50 T ENH X T T D O M6 K R V F S N I E O K L 11/15 of revenue. Top attractions include the Albert Dock, Tate Liverpool,E The World MuseumA N E R O D O 16 T T D O A5117 S R D O N A41 A556 A6 E S N M53 T T E W A55 G and the Beatles Museum. R E R H D A530 R T R C E E A N A6 Towards A34 A536 A523 A E L O A54 E T C 12 F T FRE N A494 T W E Chorley 18 ) O The city has enjoyed significant inward investment and Rtransformation over the last D A51 A54 9 A5N 4 A53 E A515 IBBLE A R 5 S SDAL R Chester A49 (A T F E PLA A O A5D0 S F CE P OA T C decade. Liverpool hosted the European CapitalI of Culture in 2008 and in addition N A A51 R S R L L R L O E IF C T E D A483 A55 O E F T E TH ( ) ( ) A494 A55 OA533 U S E U M6 J29 /M65 J1 RP T T to Liverpool One, other high quality capitalA expenditure projects have included the R O ( VE H E T S A I 17 S 6 L M E Capitol Centre E improvement of Lime Street Station, the BT Convention Centre and Echo Arena. N L ) 5 A R OL D O KN O LB OD Park & Ride W E WO T S CH A L N Y A RE L N F OR E Avenham P ark A59 Towards S T R Liverpool E B E T R Southport O A

D Leyland G A Pavilion T RIVE E R PAR ADE Guild Wheel

WIN BLE CK Miller Park RIB R L S ER E O Preston RIV Frenchwood I Y U V R T O H Sports Recreation E A M R D E AD Club Ground E 6 O L R W B I LA B B NE I One square B R L R represents E E IV approximately Guild R 300 metres & Wheel 4 minutes wal k Retailing in Preston

Preston is one of the strongest retailing centres in the North West, providing approximately 1.5 million square feet of City centre retail floorspace, ranking the City 24th of the PROMIS centres.

Retail provision in Preston is centered upon the pedestrianised Fishergate and Friargate with major retailers represented including Marks & Spencer, Debenhams, Primark, New Look, Boots, H&M, WH Smith, Next and Topshop.

Fishergate is ably supported by two enclosed shopping centres, The St George’s Shopping Centre totaling approximately 375,000 sq ft and trading over two levels which provides a link from Fishergate to the south and the pedestrianised Friargate to the north. The scheme is anchored by Marks & Spencer, New Look and H&M and was refurbished in 2007 and benefits from a 410 space multistory car park.

The City’s other major scheme is the Fishergate Centre which provides approximately 340,000 sq ft of retail accommodation and is situated at the western end of the retail core adjacent to the City’s Railway Station. The scheme is anchored by Debenhams and Primark with other multiple retailers including Sports Direct and TK Maxx.

Demographics

Preston serves an extensive and loyal catchment area with a primary catchment population of 508,000 people with an estimated shopping population of 295,000 people.

The affluence of the catchment population is underlined by the over representation of the most affluent AB Social Group with the least affluent C2 and DE Social Groups being under represented (Source: PROMIS). The City also benefits from a substantial student population of approximately 35,000 people from the University of Central Lancashire (UCLAN) which is the 12th largest and fastest growing University in the UK and ranked 67th in the Guardian’s 2018 University Guide, contributing an estimated £300 million into the regional economy. The Preston Campus of the University is concentrated to the immediate northwest of the City centre within walking distance of the City’s retail provision and the subject property. Situation

The property occupies a prime trading location being adjacent to RBS and Virgin Media. Nearby multiple retailers include Santander, EE, Clarks, WH Smith, River Island, Halifax, Bodycare, Marks & Spencer, Next, Sainsburys Local, Nationwide, Thorntons, Thomas Cook and Carphone Warehouse.

Description

The property is arranged on basement, ground, first and second floors and is of a brick and stone construction under a pitched, slate and flat roof built in the early 20th Century. The property is listed.

The ground floor has been fitted out in the standard Skipton Building Society corporate style with a substantial banking hall, 3 interview/meetings rooms and a kitchen area (all created from demountable partitions). The basement area contains a number of secure strong rooms.

The first and second floor office accommodation has a separate access to the left hand facing side of the subject property, directly off Fishergate. Both office suites have been fitted out a high standard with carpeting, heating and Category 2 lighting throughout. Both suites have been sublet - (see Tenancy details).

Accommodation

The premises are arranged on basement, ground, first and second floors with the following approximate areas and dimensions:-

Description ft/sq ft m/sq m Window frontage (Fishergate) 22’0” 6.7 m Splay frontage 9’3” 2.8 m Return frontage 46’0” 14 m Internal width (maximum) 32’8” 9.9 m Shop depth 63’3” 19.3 m Ground floor sales 1,897 sq ft 176.2 sq m Ground floor ancillary 38 sq ft 3.5 sq m Basement ancillary 992 sq ft 92.1 sq m Basement – 2 rooms not inspected (locked) First floor offices 1,314 sq ft 122 sq m Second floor offices 1,181 sq ft 109.7 sq m ITZA 1,027.5 units Preston

Experian Goad Plan Created: 05/11/2018 50 metres Created By: Ockleston Bailey

Copyright and confidentiality Experian, 2017. © Crown copyright and For more information on our products and services: database rights 2017. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011 PRESTON MARKET

ORCHARD ST

FRIARGATE

ST GEORGE’S SHOPPING CENTRE SUBJECT PROPERTY

FISHERGATE

FISHERGATE SHOPPING CENTRE Tenure The property is held freehold, subject to the tenancy listed below. The site area extends to 0.054 of an acre (0.022 hectares). Tenancy The property is let to Skipton Building Society by way of a 25 year effective full repairing and insuring lease from 21 September 1994, subject to 5 yearly upward only rent reviews at a current rental of £125,000 (one hundred and twenty five thousand pounds) per annum exclusive.

The first floor has been sublet to Brook Street (UK) Limited (Company No. 00459637) by way of an effective FR&I lease from 30 August 2011 until 19 September 2019 at a current rental of £8,750 p.a.x. The sub-lease is outside the security and tenure provisions of the Landlord & Tenant Act.

The second floor is also sublet to Brook Street (UK) Limited (Company No.00459637) by way of an effective FR&I lease from 30 August 2011 until 19 September 2019 at a current rental of £7,000 p.a.x. The sub-lease is outside the security and tenure provisions of the Landlord & Tenant Act.

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4 4 Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:500 Covenant Information The Skipton Building Society was established in 1853 in Skipton, North Yorkshire where it remains head quartered. It is the UK’s 4th largest Building Society and has over 919,000 members and 100 branches.

We set out below the most recent financial information available for the tenant:-

Year End 2017 Year End 2016 £000’s £000’s

Turnover £735.80 £691.00

Pre-Tax Profit £200.10 £168.90

Total Assets £21,023.80 £19,019.70

(Source:- Skipton Building Society Annual Report) EPC

The property has a rating of D87. A Certificate and Recommendations are available upon request.

VAT

The property has been elected for VAT and it is assumed that the transaction will be treated as a TOGC.

Anti Money Laundering

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser. Proposal

We are instructed to seek offers in excess of £950,000 subject to contract and exclusive of VAT reflecting a Net Initial Yield of 12.45% after deducting purchasers costs of 5.69%.

Further Information

For further information, or to arrange an inspection of the property, please contact:

Hugh Ockleston Ockleston Bailey

Tel: 01244 403 445 Email: [email protected]

Misrepresentation Act 1967 Ockleston Bailey Ltd (and their joint agents where applicable) for themselves and for the vendors or lessors of this property for whom they act, give notice that : (i) these particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; (ii) Ockleston Bailey Ltd cannot guarantee the accuracy of any description, dimension, references to condition, necessary permissions for use and occupation and other details contained herein and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy; (iii) no employee of Ockleston Bailey Ltd (and their joint agents where applicable) has any authority to make any representations or warranty or enter into contract whatever in relation to the property; (iv) prices/rents quoted in these particulars may be subject to VAT in addition, (v) Ockleston Bailey Ltd will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars. NOVEMBER 2018