Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

MULTI-LET OFFICE AND Beeston INDUSTRIAL BUSINESS PARK BUSINESS PARK INVESTMENT TECHNOLOGY DRIVE NOTTINGHAM NG9 2ND

Draft

1 Beeston Business Park MIXED-USENottingham city INVESTMENT centre OPPORTUNITY (6 mins)

Beeston 4 5

London St Pancras International (1 hour 40 mins)

UNDER CONSTRUCTION Barratt Homes development of 310 homes

Draft2

Building Key

1 Waterfront House 2 AW Repair Group 4 Trent Gateway Beeston GoDaddy 3 SMS - Smart Made Simple 5 ATOS BUSINESS PARK Worldwide Clinical Trials Metropolitan Thames Valley

2 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

INVESTMENT SUMMARY

• A rare opportunity to acquire an established Midlands Business Park offering exposure to both the industrial and office sector

• Beeston Business Park is located 4 miles south west of Nottingham city centre, with excellent access to the M1 motorway (4 miles) and the A52 dual carriageway

• Prominent location adjoining Beeston Train Station offering direct connectivity to London St Pancras International (1 hour 40 mins)

• The Park comprises 220,274 sq ft across one multi-let office building, three industrial buildings and a development plot

• Part Freehold and part 999 year long leasehold at a peppercorn from 08/10/2003 on a site of 25.6 acres

• Fully let to six tenants producing a total passing rent of £1,463,670 per annum equating to an exceptionally low rent of £3.06 per sq ft (industrial) and £12.31 per sq ft (offices)

• Supplementary fit outrent of £228,000 per annum totalling a projected capital receipt of £1,034,000

• WAULT of 11.2 years to lease expiries and 7.6 years to lease breaks

• Strong diversified income with over 75% of the income secured against the best possible risk score of 100/100 – ‘very low risk’ Draft • Numerous asset management opportunities in the short to medium term including driving the rental tone through upcoming rent reviews, lease re-gear negotiations, development of vacant plot and long term redevelopment of the site (STP).

PROPOSAL

Offers are sought in excess of £18,100,000, subject to contract and exclusive of VAT. This equates to a very low capital value of £82 per sq ft after allowing for purchaser’s costs of 6.74%. A purchase price at this level reflects anet initial yield of 8.00% off a passing rent of £1,463,670 per annum combined with a projected capital receipt of £1,034,000 for the supplementary fit out rent.

3 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

LOCATION COMMUNICATIONS

Beeston Business Park is located approximately 4 Beeston has a thriving business community based in the town for over 160 years, occupying ROAD miles south west of Nottingham city centre, equidistant with a resident population of over 37,000 and their headquarter campus on a 279 acre site, Junction 25 of the M1 motorway is situated between the city and the M1 motorway. The Park benefits from an educated local workforce. This 1.5 miles to the north east of the Park. Boots 4 miles to the west of the Park providing benefits from excellent public transport links and is supported by The University of Nottingham’s purchased the site in 1927 and have proposals strong connectivity to the north and south road communications, with Beeston railway station position in Beeston, which has attracted a high to create a new major headquarter campus of England. Furthermore, there is good immediately adjoining the Park which provides frequent calibre of students, many of whom remain in comprising 2.15 million sq ft of commercial access to the A52, which is a key arterial services to both Nottingham city centre (6 mins) and the area for employment purposes. Beeston is accommodation and up to 675 new homes. route linking Beeston to other regional London St Pancras International (1 hour 40 mins). also the home of Alliance Boots who have been centres and the M6.

Woodside

University of Wollaton Park A52 Nottingham RAIL Stoke-on-Trent A610 Medical School Nottingham J26 AD Town Centre RO T BY RA ER M Beeston railway station is served by the D L M1 IN Nottingham E

M1 Junc 25 Midland Main Line and is positioned adjacent

Derby IF

J25 T A52 O N B to Beeston Business Park. The Midland A52 O Beeston U L BUSINESS PARK E V Main line services London to Sheffield, via A50 05 A J24a W 0 R oo 6 D dsi A J24 de R oa Leicester, Derby and Chesterfield. The line d East Midlands

J23a

d directly connects Beeston with Nottingham ar ev ul Bo A42 ty rsi city centre (6 mins) and London St Pancras ve J23 ni U A52 Boots D105 Cannock W (1 hour 40 mins). M6 o Inbound ll a to n E J22 R IN o L a d M Boots D82 A

R Inbound M6 toll T

J21a d Beeston Town Centre a M54 Tamworth o R Leicester e n ha T J21 Boots Headquater TRAM M42

5 0 Campus

6 S A t Beeston also benefits from the established

Drafta

t i M69 o M1 n

R Nottingham Express Transit tram system o a d

M6 (NET), one of the UK’s most successful est oad W ens R e Beeston ue iv Q r rapid transport systems. The NET connects D Birmingham y J20 g M M6 lo e o a n d ne Nottingham city centre to the suburbs and M5 Birmingham ch o a e w L T n Coventry R to J19 o if Chilwell Manor a l is used by over 8 million people annually. In A14 d C Golf Course M42 Coventry 2015 the line was extended to link Beeston, J18 Beeston River Trent Train M46 BUSINESS PARK M5 M40 J17 Chilwell and Clifton at a cost of £500m. Attenborough Tram Nature Reserve M1

AIR East Midlands Airport is located 12 miles to the south west of Beeston and is the second largest cargo airport in the UK after London Heathrow. Birmingham International Airport is situated within close proximity to the town, being 45 miles south west. Nottingham city centre Boots Headquarter Campus Beeston train station Beeston town centre The University of Nottingham

4 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

London St Pancras Nottingham city centre

International (1hr 40mins) (6 mins) Beeston

TECHNOLOGY DRIVE TECHNOLOGY DRIVE TECHNOLOGY DRIVE Development Plot ROAD Attenborough 0.71 acres Nature Reserve ATOS SMS Trent Gateway

MEADOW ROAD

SMS

SMS UNDER CONSTRUCTION Barratt Homes Development Building Key of 310 homes

Waterfront

House AW M

Repair Group 15

T L Draft

FUTURE RESIDENTIA SITE BALANCING POND

BEESTON BUSINESS PARK

Beeston Business Park formerly known as ‘The Siemens Technology The Park has developed into an established business park in the To the west of the Park is Waterfront House, a purpose-built 88,000 sq site’ provides a mix of industrial and office accommodation. The Park Midlands region and was awarded Enterprise Zone status in March ft office providing Grade A office accommodation over ground and first is easily accessed off Meadow Road via Queens Road (A6005) which 2011. The Park’s success has led to strong inward investment as floor. The property is accessed via Technology Drive, the principal estate is the main arterial road linking Nottingham city centre with Beeston demonstrated by Chancerygate and Hines £20m 33-unit industrial and road running through the Park, and sits on a large site adjacent to SMS and the M1 motorway. Its strategic position immediately adjacent to warehouse development, Trent Gateway. The speculatively developed Electronics and AW Repair Group’s industrial/warehouse buildings. The Beeston railway station and proximity to the M1 motorway and East 155,000 sq ft scheme sits on a 6.4 acre site to the north and east of the property has recently been refurbished to a high-quality specification Midlands Airport has enabled the Park to be successful in retaining Park and has just reached practical completion. In addition to this, at and is fully let to GoDaddy, Worldwide Clinical Trials and Metropolitan and attracting a range of national and local occupiers including ATOS, the entrance to the Park, Barratt Homes is currently on site building 310 Thames Valley. GoDaddy, Worldwide Clinical Trials, Metropolitan Thames Valley and homes, further illustrating the attractiveness of this location in Beeston SMS Electronics. as a place to live and work.

Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

1a 3 10 to 12 14 14 to 16 6 12 Recreation Ground 2 SL

6 10

9 SL 1

73 23

8 t o 28 o

28 26.5m

11 2 13

8 THE PARK STORNAWAYCOURT

BROXTOWE 5

4 7 6

6 83 Beeston 6 1

15 STATION 5a

BEESTON OWNERSHIP PLAN Station 5

1 8

10 17 CAR PARK

1 48

27.0m 2

3 The ownership comprises one multi-let office building, three industrial buildings and a development plot. Station Villas

FREEHOLD 1 7

13 5 15

3 1 CH BEESTON

66 LONG LEASEHOLD 12 1 FRONT7 PLOT The Park has a breakdown as follows: 1

19 2 Post 4. 12

Victoria Hotel 9 to 11 Posts 13

(PH) MP 123.25 2

17 El Sub Sta El Sub Sta 38 25 22 PUBLIC TCB Posts 2. Posts ATOS

FOOTPATH FB 13 31 19

36 FREEHOLD 5 Building Use Size (sq ft) 3

1 29

15 to 17 Works El Sub Sta

32 32

Waterfront House Office 91,895 2a

51 26 42

M/C 26.8m 19

59 El Sub Sta 38

4 44

23 Unit 2C Industrial 6,749 46 3. GVC

10 1

M/C

1 TECHNOLOGY 77 2 18

3 Drain DRIVE

5. 13

7 6 81 to 91 62

Unit 1F Industrial 72,503 26.5m

19 62 to 72 to 62 28 Mission

14 4

7. 23

ATOS 1 17

WHARTON CRESCENT 27

M/C

38 5

LONG LEASEHOLD29

23 9

78 44

9. 33 2 16

53 TCB

Unit R Industrial 36,882 39

M/C LB

WHARTON CRESCENT 43 54 66

42 60 21 PO 26.5m

12 14 66

39 11. 53

40 CH BEESTON

WHARTON CRESCENT M/C 68 5 33

Unit W Industrial 12,245 42 34 MAIN SITE

13. 76 57

13 59 50

28 67

58 15. 23 53

77 Development Plot 0.71 acres 90 16

17. 61 33

Drain 1 13

19. 71

28 26.5m

73 M/C 62 28

Total 220,274 64 77

21. 13 39 27 74

43 42 87

25 M/C

49 41

23. 95 36

51 DEVELOPMENT PLOT 30 CAR PARKING 0.71 ACRES 25. 0.9 26.8m BARRATT HOMES 27. 63

29. RESIDENTIAL 44 28 97.8 093 Beeston Rylands

Junior School

31. FREEHOLD 39

The Park has a total of 588 car parking spaces. 33. 53

El Sub Sta 7

26.5m DraftBEESTON BUSINESS PARK TENURE LONG LEASEHOLD

N Playing Field

The site (shaded in blue) is held Long Leasehold for 999 years from 08 October 2003 at an annual rent 19a 58 19b

of £10 (if demanded). PLAN SCALE 1:2500 @ A3

70 54 27

BARRATT41 HOMES 56 RESIDENTIAL Pavilion The site (shaded in red) is held Freehold. 9 19a FREEHOLD 31

21a

The remainder of the site (shaded in green) is not included in the sale. Tennis Courts

39 WATERFRONT HOUSE 21

BLOCK K 1

3 South Court 110

Further information is available on request. 4

6 TRENT ROAD

FREEHOLD 5 7

Sluice 8 Allotment Gardens ROAD SOUTH

ATTENBOROUGH 27 126

NATURE RESERVE 120 26

28 37

43 SPORTING FIELDS 32 Sluice

52 SITE 53 51

54 SOUTH ROAD SOUTH The site (shaded in red and blue) totals 25.6 acres (10.7 hectares). RYAN WAY

JOHNS ROAD

RIVERSIDE ROAD

JAKE ROAD

6 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

PROPERTY OVERVIEW

WATERFRONT HOUSE Waterfront House is a self-contained, two-storey office building comprising 91,895 sq ft of Grade A office accommodation over ground and first floor. The building is of a steel frame construction with glazed and panel elevations and can be accessed via two reception entrances. Internally, the floors are arranged around a central core, which provide well configured large floor plates and an excellent level of natural light.

The building was comprehensively refurbished in 2016 at a total cost of £2.827m and benefits from the following specification:

• LED energy efficient lighting

• Suspended metal tile ceilings

• 4-pipe fan coil air-conditioning system

• Fully accessible raised floors Ground Floor First Floor • Male and female WCs on each floor

The property has a total of 411 car parking spaces equating to an excellent car parking ratio of 1:224 sq ft. RECEPTION RECEPTION LIFT

POD 1 POD 1 Accommodation Table The property has been measured in accordance with the RICS DraftMetropolitan Metropolitan Code of Measuring Practice and provides the following Net Thames Valley Thames Valley Internal Areas:

Demise Use Area (sq ft) GoDaddy

First Floor Offices 46,776 POD 4

POD 4 COURTYARD POD 2 COURTYARD POD 2 First Floor Reception 1,064

Ground Floor Offices 40,175

Ground Floor Canteen & Storage 2,651 CAFE ONE GOODS GOODS LIFT LIFT

DIS Ground Floor Reception 1,229 WC Worldwide PLANT ROOM GoDaddy FEMALE WC FEMALE WC Clinical Trials MALE WC Total 91,895 MALE WC

POD 3 POD 3

Plans not to scale for indicative purposes only

7 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

INDUSTRIAL

UNIT W Unit W is occupied by AW Repair Group and comprises a vehicle repair workshop UNIT W UNITS 1F & 2C with associated double height offices to the front. The property was constructed in the 1970s and refurbished in 2015. It is of a steel portal frame construction with steel clad elevations and benefits from one level access door.

UNITS R, 1F and 2C Units R, 1F and 2C is occupied by SMS and consists of a detached warehouse unit, a hybrid building and a research/development building.

• The warehouse unit (Unit R) is currently being used for the storage of electrical equipment. It is of a steel frame construction under a steel profile clad roof benefiting from a one level access door.

• The hybrid building (Unit 1F) provides both offices and industrial accommodation arranged over ground and first floor. The tenant is currently using the ground floor as a research laboratory where calibrating equipment is used.

• Unit 2C is a detached research/development building which the tenant is planning to refurbish to create a dedicated reception and conference room.

DEVELOPMENT PLOT UNIT R DEVELOPMENT PLOT Immediately to the north west of the Park sits a development plot of 0.71 acres. Draft

Accommodation Table UNDER CONSTRUCTION Barratt Homes development The property has been measured in accordance with the RICS Code of Measuring of 310 homes Practice and provides the following Gross and Net Internal Areas:

Building Use Area (sq ft)

Unit R Industrial 36,882 (GIA)

Unit 1F Industrial 72,503 (GIA)

Unit 2C Industrial/Office 6,749 (NIA) Development Plot Unit W Industrial 12,245 (GIA) 0.71 acres Total 128,379

8 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

TENANCY SCHEDULE

The property is multi-let in accordance with the following tenancy schedule, providing a total passing rent of £1,463,670 per annum. There is a supplementary fit out rent payable of £228,000 per annum totalling a projected capital receipt of £1,034,000.

Area Lease Break Review Passing Rent Passing Rent Supplementary Tenant Demise Lease End Comments (sq ft) Start Date Date (pa) (psf) Rent (pa)

Waterfront House

Guarantor from WCT Holdings Ltd. Worldwide Clinical Part 1st Floor 26,247 15-Dec-15 14-Dec-25 15-Dec-22 15-Dec-20 £249,612 £9.51 £115,000 Supplementary rent of £115,000 per annum Trials Ltd payable until lease break date on 15/12/2022.

Rent commencement date 22/04/2022. To be Metropolitan Part Ground and topped up by the vendor. 33,920 22-Jan-20 21-Jan-40 22-Jan-35 22-Jan-25 £472,656 £13.93 Housing Trust Ltd Part 1st Floor 5 yearly open market rent reviews (22/01/25, 22/01/30, 22/01/35).

Rent commencement date 23/04/2020. To be Heart Internet Ltd Part Ground Floor 26,784 16-May-19 15-May-29 16-May-24 16-May-24 £348,075 £13.00 topped up by the vendor.

Sub-totals 86,951 £1,070,343 £12.31 £115,000

Industrial

Supplementary rent of £101,700 per annum SMS Electronics Ltd Unit 1F, 2C 79,252 3-Aug-15 2-Aug-25 03-Aug-20 £217,500 £2.78 £101,700 Draft payable until lease expiry on 02/08/2025.

SMS Product Supplementary rent of £11,300 per annum Unit R 36,882 3-Aug-15 2-Aug-25 03-Aug-20 £109,827 £2.99 £11,300 Services Ltd payable until lease expiry on 02/08/2025.

AW Repair Group Ltd Unit W 12,245 4-Oct-16 3-Oct-26 4-Oct-21 4-Oct-21 £65,000 £5.34 Rent deposit of £16,250 + VAT

Sub-totals 128,379 £392,327 £3.06 £113,000

Trent Value Community 18-Oct- Rent commencement date 19/10/2020. To be Sporting Fields 19-Oct-17 £1,000 Sports Association 2116 topped up by the vendor.

TOTAL 215,330 11.2 years 7.6 years £1,463,670 £6.79 £228,000

SERVICE CHARGE

The service charge budget for the year ending 31 December 2020 is £696,000 per annum which equates to £0.58 per sq ft (industrial) and £7.22 psf (offices). Further information is available on equest.r

9 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

INCOME ANALYSIS INCOME BY COVENANT STRENGTH % OF TOTAL INCOME BY TENANT

100% of the income is secured against covenants with a ‘below Reair ru Risk average risk’ or better as rated by Be erae Risk Be erae Risk Experian, with over 75% secured SMS Pru against the best possible risk Series er Risk score of 100/100 – ‘very low risk’

SMS Eernis Risk er rie inia Risk Trias ear Inerne Da ‘Very low risk’ Merian usin Trus

COVENANT INFORMATION

HEART INTERNET LTD DraftMETROPOLITAN HOUSING TRUST LTD (Company No. 04866768) (Company No. IP16337R)

Heart Internet (t/a GoDaddy) is Europe’s leading hosting authority employing 9,000 people worldwide. Metropolitan Housing Trust (t/a Metropolitan Thames Valley) provides housing at different levels of GoDaddy provide network services and internet domain names to customers ranging from private affordability for people living in London, the South East, East Midlands and East of England. The Trust individuals to large corporations with nearly 19 million customers and 78 million domains under manages nearly 38,000 homes with the principal activities including the regeneration of communities as management. well as a care and support service.

Heart Internet Ltd has an Experian rating of 100/100 deeming the company ‘Very Low Risk’. Metropolitan Housing Trust Ltd has an Experian rating of 100/100 deeming the company ‘Very Low Risk’.

31 Dec 2018 31 Dec 2017 31 Dec 2016 31 Mar 2018 31 Mar 2017 31 Mar 2016

Turnover £15,645,000 £15,645,000 £15,726,000 Turnover £288,131,000 £265,689,000 £234,897,000

Pre-tax Profit £8,291,000 £827,000 £7,919,000 Pre-tax Profit £65,362,000 £79,659,000 £67,951,000

Total Net Worth £50,311,000 £50,311,000 £43,754,000 Total Net Worth £1,710,181,000 £1,642,194,000 £1,523,238,000

10 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

COVENANT INFORMATION

WORLDWIDE CLINICAL TRIALS LTD SMS ELECTRONICS LTD (Company No. 06291766) (Company No. 04496144)

Worldwide Clinical Trials is a global Contract Research Organisation (CRO) providing full-service drug SMS Electronics Ltd is a UK manufacturer and distributor of electrical equipment. The firm was development services to the pharmaceutical and biotechnology industries. The company employs over incorporated 1920 and was previously named Ericsson Telecommunications. They are one of the 1,700 people and operates from 30 offices globally. largest regional manufacturers of electrical equipment supporting large and small brands.

The lease is guaranteed by WCT Holdings Ltd. SMS Electronics Ltd has an Experian rating of 100/100 deeming the company ‘Very Low Risk’.

Worldwide Clinical Trials Ltd has an Experian rating of 74/100 deeming the company ‘Below Average 29 Sep 2018 29 Sep 2017 30 Sep 2016 Risk’. Turnover £29,546,000 £22,710,000 £16,777,000 31 Dec 2018 31 Dec 2017 31 Dec 2016 Pre-tax Profit £832,000 (£311,000) (£76,000) Turnover £48,214,279 £41,666,329 £53,677,871 Total Net Worth £5,229,000 £4,485,000 £4,780,000 Pre-tax Profit £1,871,326 (£2,118,517) £8,744,585

Total Net Worth (£3,769,081) (£5,871,519) (£4,015,513)

SMS PRODUCT SERVICES LTD (Company No. 06299945) AW REPAIR GROUP LTD Draft (Company No. 03801234) SMS Product Services Ltd manufacture electronic valves and tubes. The firm was incorporated in 2007 and was previously named Castlegate 487 Ltd.

AW Repair Group Ltd is a motor vehicle accident repair service who operate across Lincolnshire, North SMS Product Services Ltd has an Experian rating of 81/100 deeming the company ‘Low Risk’. Nottinghamshire and South Yorkshire. Working from a network of eight locations, the company is approved for many of the UK’s leading insurance companies. They partner with manufacturers such as 29 Sep 2018 29 Sep 2017 30 Sep 2016 Audi, Toyota and Honda and repair more than 12,000 vehicles a year. Turnover - - £1,962,468 AW Repair Group Ltd has an Experian rating of 100/100 deeming the company ‘Very Low Risk’. Pre-tax Profit - - £365,467 Jul 2019 Jul 2018 Jul 2017 Total Net Worth £246,047 £134,421 £196,505 Turnover £17,483,969 £14,266,251 £11,388,903

Pre-tax Profit £750,899 £549,807 £401,613

Total Net Worth £1,809,666 £1,235,811 £961,471

11 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

OCCUPATIONAL MARKET Midlands Prime Office & Industrial Rental Map

OFFICES INDUSTRIAL Key Nottingham Ofﬁce Rental Derby A610 £20.00psf Beeston forms part of the East Midlands office market, The East Midlands industrial market has performed well J26 which is made up of a number of office centres such over the past 12 months as it continues to be a hot spot Industrial Rental* £17.50psf £6.50psf £6.50psf M1 as Leicester, Derby and Nottingham. The town has for industrial operators. First Panatonni demonstrated their Nottingham Derby developed into an established and thriving business commitment to the region with the speculative development A52 J25 destination for corporate occupiers, driven by its at their out-of-town 715,000 sq ft Panatonni Park Nottingham. BBP A50 J24a strong communication links, proximity to Nottingham Whilst Jaguar Land Rover’s decision to open a 2.9 million sq ft J24 £12.31psf East Midlands city centre and the M1 and access to a highly skilled global parts distribution centre in the East Midlands boosted J23a £3.06psf workforce. the share of manufacturing in a year where take-up was A42 J23 mostly driven by third party logistics operators. Cannock There has been an increased level of interest in the East M6

Midlands office market, with occupiers keen to minimise Availability of prime industrial space in Nottingham remains J22 their occupational costs and exploit the market’s low and this is encouraging speculative development M6 toll excellent connectivity. A combination of this improving projects as witnessed at Beeston Business Park through M54 Tamworth J21a Leicester occupier demand, limited Grade A development and a the construction of Trent Gateway. With limited prime space M42 J21 general lack of supply has seen headline rents come immediately available, rental levels have been increasing with Birmingham CC Coventry Leicester £34.00psf £22.50psf M69 £18.00psf under pressure. This has led to improved occupier prime rents now at £6.50 psf and secondary rents rising by M1 £7.25psf £7.25psf interest in locations such as Beeston Business Park, 5.3% to reach £5.00 psf. The low industrial rents on Beeston M6 given its position directly adjacent to Beeston railway Business Park are reflective of the discount that is applied to Birmingham station and headline rents remaining heavily discounted Beeston. However, rents in the area for both the distribution J20 Birmingham M6 in comparison to the wider Midlands region, as sector and small unit sector are both under upwards pressure M5 J19 demonstrated by GoDaddy who relocated to the Park and should continue to grow. Coventry A14 Coventry form Nottingham city centre. M42 Birmingham OOT J18 M46 M5 £24.00psf J17 Northampton Draft £8.00psf £22.00psf M1 £7.25psf M40

*Industrial rents assuming sub 10,000 sq ft.

Trent Gateway

12 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

INVESTMENT MARKET INVESTMENT RATIONALE Investor demand for regional investment opportunities remained strong throughout 2019, with investors able to appraise positively due to the favourable supply/demand dynamics in the occupational market, rental growth and prospects for further yield compression. Despite this positive investor sentiment, there continues to be a severe shortage of stock being brought forward, leading to investor competition when good quality assets • Established business park in the East Midlands with active asset management opportunities become available. region, offering a variety of accommodation to attract a diverse range of occupiers. Listed below are recent comparable multi-let investment transactions: • Excellent business park environment situated immediately adjacent to Beeston railway station Area Term Certain Purchase Cap Val Date Address NIY Purchaser (sq ft) (yrs) Price (psf) • The Park has recently benefited from strong inward investment, providing a positive outlook moving forward Dec-19 1&2 Colton Square, Leicester 109,133 4.3 £20.87m 7.78% £191 Maya Capital • Located in Nottingham’s Enterprise Zone

Caldecotte Lake Business Park, • Fully let to six tenants with strong covenants, who continue Sep-19 172,000 4.5 £35.50m 7.50% £206 Galliard Homes Milton Keynes to demonstrate their commitment to the Park

• Opportunities for the purchaser to add value in the short 3500/3400/5000/9600 May-19 130,321 - £36.95m 6.08% £284 Arlington to medium including increasing the rental tone at the Oxford Business Park, Oxford upcoming rent reviews in 2020 and re-gearing leases

Dec-18 Lawnswood Business Park, Leeds 146,176 4.6 £26.50m 8.30% £181 Hillview • Future development potential either through the existing development plot or long term redevelopment of the site (subject to planning) Pegasus Business Park, Nottingham City Dec-18 65,175 - £11.21m 6.90% £172 Castle Doningston Council • Positive and improving occupational outlook and supply and demand dynamics in the East Midlands Rushmoor Borough industrial and office markets. Nov-18 Frimley4, Camberley 128,703 6.1 Draft£23.40m 7.50% £174 Council

13 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY

FURTHER INFORMATION

Beeston 4 Capital Allowances 5 Further information is available on request. VAT We understand the property will be treated as a Transfer of a Going Concern for VAT purposes.

EPC 4 UNDER CONSTRUCTION Further information is available on request. Barratt Homes development of 310 homes Data Room An online data room is available on request. 2 Development Plot 3 PROPOSAL 0.71 acres 1 Offers are sought in excess of £18,100,000, subject to contract and exclusive of VAT. This equates to a very low capital value of £82 per sq ft after allowing for purchaser’s Draft costs of 6.74%. A purchase price at this level reflects anet initial yield Building Key 1 Waterfront House 2 AW Repair Group 4 Trent Gateway of 8.00% off a passing rent of £1,463,670 per annum GoDaddy combined with a projected capital receipt of £1,034,000 3 SMS - Smart Made Simple 5 ATOS Worldwide Clinical Trials for the supplementary fit out rent. Metropolitan Thames Valley

CONTACT DETAILS

Josh Beebee Max Clynes Matthew McGrail Theo Quarendon

T: +44 (0)20 7952 6297 T: +44 (0)20 7952 6303 T: +44 (0)20 7952 6102 T: +44 (0)20 7952 6299

E: [email protected] E: [email protected] E: [email protected] E: [email protected]

MISREPRESENTATION ACT 1967 Kimmeridge Real Estate Ltd on its own behalf and for vendors or lessors of this property, whose agent it is, gives notice that: 1. The particulars are produced in good faith, but are a general guide only and do not constitute any part of a contract. 2. No person in the employment of the agent(s) has any authority to make or give any representation or warranty whatsoever in relation to this property. 3. The property is offered subject to contract and unless otherwise stated all rents are quoted exclusive of VAT. 4. Nothing in these particulars should be deemed a statement that the property is in good condition, or that any services or facilities are in working order. 5. Unless otherwise stated, no investigations have been made regarding pollution, or potential land, air or water contamination. Interested parties are advised to carry out their own investigations if required. Publication Date: February 2020.