CHESTER 2 FAULKNER STREET & 49A/49B HOOLE ROAD, HOOLE, CH2 3BD

PROMINENT FREEHOLD NON VATTED RETAIL/RESIDENTIAL INVESTMENT

LET TO COSTA LIMITED

9 July 2019

Location Chester is one of the strongest retailing centres in the Country and the commercial and administrative centre for Cheshire. The City has a resident population of approximately 120,000 people increasing to over 560,000 people within a 12 ½ mile (20 km) radius. Chester is located approximately 20 miles (32 km) south of Liverpool, 35 miles (56 km) southwest of Manchester and 205 miles (331 km) northwest of London. The City’s ring road (A55) provides access to Junction 12 of the M53 which lies 3 miles (5 km) east of the City Centre connecting the M56 to the rest of the national motorway network. Chester benefits from a direct rail service to London Euston with a fastest journey time of 2 hrs. Liverpool Lime Street and Manchester Oxford Road stations are both easily accessible with journey times of 45 mins and 1 hr 10 mins respectively. The City benefits from excellent airport coverage with Manchester International Airport 35 miles (56 km) to the northeast and Liverpool John Lennon Airport 24 miles (39 km) to the north. The City is also an important tourist destination that benefits greatly from its historic Roman origins which contribute to create a unique, aesthetically pleasing and very popular shopping environment. This coupled with the wide variety of tourist attractions (Chester Cathedral, the historic City Walls and Chester Racecourse) accounts for over 8.25 million visitors to the City every year. Hoole is an affluent residential suburb situated 1 mile (1.6km) northeast of the City Centre. The area benefits from the bustling and vibrant Faulkner Street with its mix of local and national retailers, bars and restaurants. Demographics Data published by the Office for National Statistics shows that the economy in Cheshire West and Chester is growing faster than any other Local Authority area in England and Wales. The City boasts an affluent catchment with 24% in the AB Social Group and a further 29% in C1 Group (PROMIS). Chester’s loyal shopping population is estimated to spend over £1.72 billion annually on comparison goods shopping. Chester’s student population is growing with an estimated 15,300 full time students enrolled in the University.

Situation The property occupies a prominent corner trading location at the junctions of Hoole Road (A56) which is one of the main arterial roads leading into the City Centre and Faulkner Street, the main retail destination for Hoole. The property is located adjacent to Boots with nearby multiple retailers including Clare House, Bargain Booze, Denton & Hyde Hair, Sainsburys Local, Gerrards Bakers and Corbett Bookmakers. In addition there is an exciting mix of local retailers and restaurants adding to the vibrancy of the street. There is currently one vacant retail unit within the street highlighting the strength of the retail pitch and retailer demand. Description The property is arranged on basement, ground and first floors with the following approximate areas and dimensions:-

2 Faulkner Street (Costa) Internal width (max) 46’3” 14m Shop depth 44’9” 13.6m Ground floor sales 1,308 sq ft 122 sq m Ground floor kitchen 232 sq ft 21.6 sq m Ground floor ITZA 891 units 49A, Hoole Road (residential) 753 sq ft 70 sq m 49B Hoole Road (residential) 441 sq ft 41 sq m

The retail clement benefits from an external seating area fronting Hoole Road included within the demise. The basement area of 79 sq ft (7.4 sq m) has been retained by the landlord with rights reserved through Costa to maintain and to take meter readings. Tenancies 2 Faulkner Street (Costa Limited) The ground floor is let to Costa Limited (Company No.1270695) by way of a 10 year FR&I lease from 9th October 2017, subject to an upward only rent review in the 5th year at a current rental of £35,000 p.a.x. The lease contains a tenant option to break on the 6th anniversary of the term upon serving 6 months prior written notice.

NewSP1

NewSP2

ExtgSVP3

3948

1187

1810

5972

660 L

720 x 1260

x 1300mm

660 L

720 x 1260

x 1300mm

DRAINAGE SCHEDULE:SP1 - 100MM POP UPSP2 - 100MM POP UPSVP3 - NEW EXTERNAL CONNECTIONTO EX MAINS DRAINS. NOTE VENTPIPE REQUIRED.ALL PROPOSED DRAINAGE POINTSTBC BY LL AND COSTA PM.

ALL SETTING OUT DIMENSIONS TAKENFROM EXISTING STRUCTURE SUBJECTTO LANDLORD APPROVAL

ALL NEW SOIL PIPES TO BE COREDRILLED THROUGH SLAB AND TO BEFITTED WITH 1 HOUR INTUMESCENTCOLLARS TO ACHIEVE FIRESEPARATION IN ACCORDANCE WITHLANDLORDS FIRE STRATEGY ANDAPPROVED BY BUILDING CONTROL.

This drawing is the copyright of Street Eite Associates Limited.Do not scale from drawings. All dimensions and levels to bechecked on site prior to commencement of work or manufactureof items. Notify SEA of any discrepancies.This drawing to be read in conjunction with specifications,specialist drawings and any bill of quantities.The Contractor is to comply with all relevant statutory legislationwhether or not specifically stated on these drawings.

Client

Project

Drawing Title

Scale

Drg No

Revisions

SEA DESIGN GROUP Unit 13D Princes Drive, Kenilworth, Warwickshire, CV8 2FD UKEmail sea.uk@seadesigngroup.com Telephone +44 (0)1926 864440

Date

Rev

Drg By Check

:By

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PAR APPROVEDAPPROVED FOR CONSTRUCTION

2 FAULKNER ST, HOOLECHESTER, CH2 3BD

Proposed Drainage & Services 6 of 7

1:50@A1 3/04/17

216014/SC.06 B

RB JJ/SVA: Schematic layout revised following client feedback. GP 05.04.17B - Schematic layout revised following client feeback - RB 20/04/17

TRADITIONAL // BERRY // PARITY

49A, Hoole Road (Residential First Floor Flat) The flat is let by way of an assured shorthold tenancy to Mr David Holmes and Miss Susan Roberts for a term of 6 months from 20 March 2019 at a rental of £700 per calendar month. The rent is payable on 20th day of each month. The tenant paid an £800 deposit. 49B, Hoole Road (Residential First Floor Flat) Currently under offer at £575 per calendar month. The property will be providing a combined rental of £50,300 (fifty thousand three hundred pounds) p.a.x. following the letting of 49B Hoole Road Covenant Information Costa Limited (Company No.1270695) Costa Coffee was founded in London in 1971 by the Costa family as a wholesale operation supplying roasted coffee to caterers and specialist Italian coffee shops. The business was acquired by Whitbread in 1995 and sold in 2019 to the Coca Cola Company in a deal worth £3.9 billion and has grown to 3,401 stores across 31 countries. The business has 2,021 UK restaurants, over 6,000 Costa Express vending facilities and a further 1,280 outlets overseas. We list below the latest financial information in respect of the tenant as follows:-

Year End

01/03/ 018 £000

Year End 02/03/2017 £000

Year End 03/03/2016 £000

Turnover £951,684 £886,366 £835,037 Pre-Tax Profit £105,215 £103,387 £117,498 Shareholders Funds £538,300 £628,991 £545,353

Costa Limited have a Creditsafe rating of 95 out of 100 representing a very low risk. (Source: Creditsafe)

EPC’S 2 Faulkner Street (Costa) - D79

49A Hoole Road (residential) - D60

49B Hoole Road (residential) - D62

Certificates and Recommendations are available upon request. TENURE Freehold, subject to the tenancies listed above. VAT The property has not been elected for VAT purposes. Anti Money Laundering Regulations 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 £700,000 subject to contract. A purchase at this level would reflect a net initial yield of 6.8% after deducting purchasers costs of 5.3% Further Information For further information, or to arrange an inspection of the property, please contact Hugh Ockleston, Ockleston Bailey 01244 403445 Email: hugh@ocklestonbailey.co.uk Subject to Contract 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.