PA G E T I T L EINTRO PARAGRAPH

T I T L EBody copy

N O T T I N G H A M C I T Y C E N T R E

A R E S I D E N T I A L L E D , M I X E D U S E I N V E S T M E N T O P P O R T U N I T Y, I N T W O P R I M E L O C AT I O N S

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PA R K & C A S T L EA RESIDENTIAL LED, MIXED USE UNBROKEN FULLY LET INVESTMENT OPPORTUNITY, IN TWO PRIME LOCATIONS WITHIN THE HEART OF NOTTINGHAM CITY CENTRE.

Castle View, 18–30 (Even) Castle Boulevard Westcliffe Court, 45/47 Lenton Road Nottingham NG7 1FL The Park, Nottingham NG7 1DW

I N V E S T M E N T S U M M A R Y

+ An extremely rare opportunity to secure two closely located unbroken freehold properties finished to a very high specification by renowned developers in preferred prime locations within central Nottingham

+ Both properties are situated within the prestigious Park Estate, with the Castle Boulevard properties being accessed off this peripheral road at its borders

+ Both properties have excellent access to the Nottingham city centre and both its universities

+ Castle View, 18–30 Castle Boulevard comprises seven adjacent townhouses, developed between 2006–2008, to exacting standards incorporating ancillary commercial units

+ Westcliffe Court, 45/47 Lenton Road comprises eight self contained flats in one block, converted in 2006, and let to the student sector of the market on full 12 month tenancies

+ In total, 10 residential units, 8 student units and 4 commercial units, all within two properties

+ The residential and student accommodation income is contracted. The commercial accommodation is occupied by the Vendor who will leaseback simultaneously with legal completion of the sale

+ Castle View, 18-30 Castle Boulevard has a combined contracted and leaseback gross income of £251,400 per annum

+ Westcliffe Court, 45/47 Lenton Road generates a contracted gross income of £160,800 per annum

+ Ancillary service income of £24,000 per annum

+ Premium rents achieved due to location, specification and ancillary services offered

+ 100% occupancy history since the developments were completed

+ High capital value resale locations

O P P O S I T E

1 Castle View, 18–30 Castle Blvd

2 Westcliffe Crt, 45/47 Lenton Rd

N O T T I N G H A MTHE CITY OF NOTTINGHAM LIES AT THE HEART OF THE UK AND IS REGARDED AS THE COMMERCIAL AND ADMINISTRATIVE HUB OF THE EAST MIDLANDS REGION.

With a growing 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.

The City attracts a number of international corporations with over 50 Regional and National headquarters based in the City.

Nottingham is the home to Walgreens Boots Alliance, Experian, E.ON UK, Gala Group, Siemens, Speedo, Vision Express, Games Workshop, Capital One and Paul Smith.

Nottingham is the UK’s 4th largest university city. There are 60,115 students of which 51,745 (86%) are full-time in Nottingham. Of this, circa 19% are international students.

There are some strong language schools residing in Nottingham which also contribute to the growing population.

Exceptional investment in infrastructure, with £1 billion currently being spent in the city and county on making the transport and business infrastructure world-class.

T H E PA R K E S TAT ETHE PARK WAS FORMED FROM THE FORMER DEER GROUNDS OF NOTTINGHAM CASTLE, WITH MANY OF THE PROPERTIES WITHIN THE PARK DESIGNED BY NOTED ARCHITECTS SUCH AS P F ROBINSON, WATSON FOTHERGILL AND T C HINE.

Since 1986, The Park has been a designated Conservation Area of outstanding national architectural importance. It has become Nottingham’s premier and prestige address nestled next to the castle and the city centre.

Both properties are convenient for the city centre which is within walking distance offering a wide variety of services, amenities, restaurants, bars and retail.

For the commuter there is excellent road, rail and air connectivity.

R O A D / A I R (Blended average)

Point of interest Distance

Between the two properties 0.5 miles

Nottingham Market Square 0.6 miles

Nottingham Train Station 0.8 miles

Nottingham Trent University 0.9 miles

QMC Hospital 1.1 miles

University of Nottingham 1.3 miles

M1 Junction 25 7.2 miles

East Midlands Airport 13.6 miles

R A I L (Source: eastmidlandstrains.co.uk)

Rail station Time

East Midlands Parkway 10 mins

Derby 24 mins

Leicester 28 mins

Sheffield 53 mins

Birmingham 1 hr 16 mins

St Pancras International 1 hr 46 mins

A52

A453

A60

A610

A6200

A6514

A6514

A609

A6130

Universityof Nottingham

Universityof Nottingham

Nottingham TrentUniversity

NottinghamStation

CASTLEBOULEVARD

LENTON RD

Marina

Castle

Market Square

Dunkirk

Radford

The Park

Meadows

Sneinton

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A B O V E

1 Castle View, 18–30 Castle Blvd

2 Westcliffe Crt, 45/47 Lenton Rd

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O P P O S I T E & A B O V E

1, 2, 6, 7, 10 Castle View

3, 4, 5, 8, 9 Westcliffe Court

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T H E P R O P E R T I E SMortimer’s Hole

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CASTLE BOULEVARD

CASTLE BOULEVARD

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AM

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PAL

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HOPE DRIV

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Cottage

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CastleCourt

ImpactHouse

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Dukes Wharf

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Rock

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28 to 42

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Ferndene

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Museum

The Gallery

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1 to 23

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22b

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WoodsendWharf

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0m 25m 50m

Park Wharf

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14 to 17

9 to 12

18 to 25

75m

C A S T L E V I E W18, 20, 22, 24, 26, 28 and 30 Castle Boulevard, Nottingham NG7 1FL

THE PROPERTY COMPRISES SEVEN TOWNHOUSES WITHIN AN UNBROKEN TERRACE CONTAINING TEN RESIDENTIAL UNITS AND FOUR COMMERCIAL UNITS. IT WAS DEVELOPED BY THE VENDOR BETWEEN 2006–2008.

The commercial units include an office/shop and garage/laundry store at 18 Castle Boulevard, a hairdressers at 20 Castle Boulevard and a beauty salon at 22a Castle Boulevard.

The residential elements comprise three flats within 18 Castle Boulevard, a flat at 20 Castle Boulevard, a flat at 22 Castle Boulevard, two flats within 24 Castle Boulevard and three self contained town houses at 26, 28 and 30 Castle Boulevard.

The development has been very well considered, being well laid out with a good use of space and the specification is to an extremely high level.

All of the town houses and all of the flats have outside space.

Car parking is within a gated central courtyard within the garage and each unit benefits from an on road parking permit.

25.9m

FIENNES CRESCENT

ROCK DRIVE

PARK ROAD

LENTO

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160

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ews

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0m 25m 50m 75m

1 to 8

45 to 47

W E S T C L I F F E C O U R T45/47 Lenton Road, The Park, Nottingham NG7 1DW

THE PROPERTY COMPRISES AN UNBROKEN, DETACHED FOUR STOREY FORMER DWELLING HOUSE, WHICH THE VENDOR CONVERTED IN 2006 INTO EIGHT SELF CONTAINED FLATS.

There are two flats on each floor, each having four bedrooms and two bathrooms and a living/dining/kitchen. The two lower floor flats also benefit from a rear terraced area.

The location is excellent being within The Park Estate and especially good for students being the last property within The Park before the pedestrianised access into Lenton and beyond to the University of Nottingham.

The Property is occupied by students and each has established use as a House in Multiple Occupation (HMO) and a HMO License.

Each of the flats is fitted out to a very high standard for the student sector of the market and commands a commensurate rent with each being on a full 12 month tenancy.

T H E P R O P E R T I E S

CASTLE VIEW, 18 -30 CASTLE BOU LE VARD

Address Details Beds Baths Sq m Sq ftGross rent PA

Gross rent PM

18* Office/shop – – 86.2 928 £13,000 £1,083

18* Garage/laundry store – – 160.5 1,728 £6,000 £500

18B First floor flat 2 2 76.0 818 £18,900 £1,575

18C Second floor flat 2 2 89.3 961 £18,900 £1,575

18D Flat over garage 2 2 100.3 1,080 £21,000 £1,750

20* Hairdressers – – 86.1 927 £13,000 £1,083

20A Flat over hairdressers 2 2 88.1 948 £18,900 £1,575

22A* Beauty salon – – 86.1 927 £13,000 £1,083

22B Flat over beauty salon 2 2 96.0 1,033 £18,900 £1,575

24A Ground floor flat 2 2 86.4 930 £18,900 £1,575

24B First floor flat 2 2 85.9 925 £18,900 £1,575

26 Town house 4 2 171.6 1,847 £24,000 £2,000

28 Town house 4 2 163.9 1,764 £24,000 £2,000

30 Town house 4 2 183.8 1,978 £24,000 £2,000

Subtotal 26 20 1,560.2 16,794 £251,400 £20,950

* Denotes commercial property element. Please note that the income against the commercial property is proposed to be leased back simulta-neously with legal completion of the sale.

WESTCLIFFE COU RT, 45/47 LE NTON ROAD, THE PARK

Address Details Beds Baths Sq m Sq ftGross rent PA

Gross rent PM

Flat 1 Lower ground floor flat 4 2 96.3 1,037 £21,000 £1,750

Flat 2 Lower ground floor flat 4 2 100.3 1,080 £21,000 £1,750

Flat 3 Ground floor flat 4 2 91.7 987 £19,800 £1,650

Flat 4 Ground floor flat 4 2 87.4 941 £19,800 £1,650

Flat 5 First floor flat 4 2 93.5 1,006 £19,800 £1,650

Flat 6 First floor flat 4 2 80.0 861 £19,800 £1,650

Flat 7 Second floor flat 4 2 93.4 1,005 £19,800 £1,650

Flat 8 Second floor flat 4 2 94.0 1,012 £19,800 £1,650

Subtotal 32 16 736.6 7,929 £160,800 £13,400

T O TA L O F B O T H P R O P E R T I E S

Description Sq m Sq ft Gross rent PA

Gross rent PM

Grand total of both properties 2,296.8 24,723 £412,200 £34,350

Notes:1. All property measured on a Gross Internal Area basis2. There is additional ancillary service income of £24,000 per annum generated from Castle View

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A B O V E

Castle View, 18-30 Castle Blvd

O CC U PAT I O N A L U S E & I N CO M E S P L I TTHIS IS A RESIDENTIAL LED, MIXED USE INVESTMENT.

O C C U P AT I O N A L U S E ( S Q F T )

RESIDENTIAL

12,285(50%)

STUDENT

7,929(32%)

COMMERCIAL

4,509(18%)

I N C O M E S P L I T ( £ )

RESIDENTIAL

206,400(47%)

STUDENT

160,800(37%)

COMMERCIAL

45,000(10%)

T E N A N C I E S & L E A S E SThe residential units are all occupied on 12 month or longer ASTs. The student units are all occupied on 12 month ASTs.

The commercial units, to include the office/shop, hairdressers and beauty salon are all occupied by the Vendor who intends to continue in occupation. A new lease for each unit will be granted from the date of completion for a term of 15 years, on effective full repairing and insuring terms, with five yearly tenant breaks, three yearly upwards only rent reviews, at a rental of £13,000 per annum for each the office/shop, hairdressers and beauty salon, and £6,000 per annum for the garage/laundry store.

T I T L EThe freehold properties are registered under title numbers NT417335 and NT31601.

S E R V I C E SEach property is self contained with mains gas, electricity, water and drainage all connected.

M A N A G E M E N TThe Vendors occupy 18 Castle Boulevard as an office, along with their shop, where they manage the property from. The portfolio has been well managed, with premium rents achieved for a premium product, resulting in full occupancy.

Additional services provided include utility service billing, maintenance, a laundry service and window cleaning. These are detailed in the Income Schedule as ‘Ancillary service income’ and is charged in addition to the rent. This totals approximately £24,000 per annum which represents the additonal 6% of gross income.

VATWe have been advised that no property is elected for VAT.

E P CA full suite of EPC’s is available in the data room.

T H E U K P R I VAT E R E N T E D S E C T O RSTRONG POPULATION GROWTH OVER THE NEXT 10 YEARS COUPLED WITH A TIGHTENING MORTGAGE MARKET FOR BOTH FIRST TIME BUYERS AND BUY TO LET LANDLORDS MEANS THAT THERE IS SIGNIFICANT OPPORTUNITY FOR SCALE INVESTORS TO MEET THE RISING DEMAND FOR RENTED PROPERTY.

Savills expectation is that the Private Rented Sector (PRS) will continue to expand for the remainder of the decade, with 6.6 million households in the UK by 2019, which is around 250,000 new PRS households per annum.

The ‘Park & Castle’ portfolio offers an opportunity to continue to hold as an investment but with the potential to dispose of the individual properties making up the portfolio.

P R O P O S A LSavills is instructed, on a sole agency basis, to seek offers of £6,500,000 for the combined ‘Park & Castle’ portfolio.

This represents a 6.7% blended Gross Initial Yield on the total income (to include the contracted residential and student elements together with the leaseback income on the commercial elements and including the ancillary service income, excluding purchaser’s costs).

D ATA R O O MFurther information, detailed below, is available in the data room at: www.savills.com/PC

+ Schedule of accommodation and tenancies

+ The last five years occupancy and income

+ Sample tenancy

+ Title plans

+ EPCs

+ Additional photography

+ Location plans

+ Floor plans for each property

C O N TA C TTo discuss the Property and to arrange a viewing please contact the sole agents:

M I C H A E L D O N A G H Y

t. +44 (0)115 934 8030

e. mdonaghy@savills.com

O L I V I A H A S L A M

t. +44 (0)115 934 8163

e. ohaslam@savills.com

I A N M U X L O W

t. +44 (0)115 934 8053

e. imuxlow@savills.com

G E O R G E H E P B U R N E - S C O T T

t. +44 (0)20 7016 3761

e. ghscott@savills.com

I M P O R TA N T N O T I C E

Savills and their clients give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and produced by Savills Marketing: 020 7499 8644 June 2016

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A R E S I D E N T I A L L E D , M I X E D U S E I N V E S T M E N T O P P O R T U N I T Y, I N T W O P R I M E L O C AT I O N S