37, 39 & 41 FORE STREET

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1 7, 9 & FORE STREET TIVERTON SECURELY LET LARGE STORE IN ATTRACTIVE SOUTH WEST MARKET TOWN

2 7, 9 & FORE STREET, TIVERTON Investment Summary Major store let to an undoubted covenant Argos Limited (on assignment from Tesco Stores Ltd) Located in the heart of Tiverton in a prime retail position on Fore Street Within close proximity to WH Smith, Dorothy Perkins and Holland and Barrett. Approximately. years to expiry Freehold Producing a current rental income of,000 per annum exclusive.8 Million reflecting a net initial yield of 7.9% offer deducting usual purchaser s costs of.8% Not to scale. For identification purposes only. This plan is based upon the Ordnance Survey Map with the sanction of the controller of H.M. Stationery Office. Crown Copyright reserved.

3 7, 9 & FORE STREET, TIVERTON Location Tiverton is a market town situated in the county of Devon, approximately km ( miles) north of Exeter, km ( miles) south west of Taunton, 0 km (6 miles) south of Bristol and 6 km (6 miles) south west of the City of London. Tiverton falls within the mid Devon catchment area and has a population of 9, with a district population of 77,70 (0 Census). Fore Street is pedestrianised and represents the prime retail location in the town, where many multiples are represented including WH Smith, Dorothy Perkins and Holland and Barrett. Communications The town has excellent communications being located close to junction 7 of the M motorway which leads to Bristol to the north and Exeter to the south. Tiverton Parkway station provides frequent services to London Paddington and Bristol Parkway with a fastest journey time of hours and 0 minutes respectively. Not to scale. Indicative only.

4 Jo Cen 6 8 7, 9 & FORE STREET, TIVERTON Description Tenure Comprising a large, purpose built, town centre retail unit dating from the early 980 s, providing open plan, ground floor retail and storage accommodation with additional storage space in the basement and on the first floor, with staff accommodation on a mezzanine floor. Rear loading is from double loading doors at basement level, with a goods lift and two sets of stairs serving each floor. There is a customer collection area to the rear of the building with car parking spaces. Freehold. PH Bank m a 9 PH 6 7 7a 9 a 0 6 to GOL Accommodation We are advised that the premises provides an approximate total net internal floor area of,6 sq ft (,89 sq m) arranged as follows: Description Area Sq Ft Area Sq M First Floor 9, Ground Floor 8, Mezzanine Floor Basement,68.0 Total,6,89. Bank 6 Well PCs a 8Bank 7.0m FORE TCBs STREET Phoenix Lane Gotham House 7 Bk South View 6 a Cinema 9to El Sub Sta Superstore The Retreat 6 7 Not to scale. For identification purposes only. This plan is based upon the Ordnance Survey Map with the sanction of the controller of H.M. Stationery Office. Crown Copyright reserved.

5 7, 9 & FORE STREET, TIVERTON Tenancy Single let to Argos Limited (on assignment from Tesco) for a term of 0 years expiring th December 00 at a current rent of,000 per annum exclusive, subject to an upwards only rent review on th December 0. Covenant Information Argos Limited Argos Limited, part of Home Retail Group plc, is the UK s leading digital retailer offering more than,000 products over the internet, mobile channel, stores, telephone and Argos TV. Argos Ltd continues to be the UK s largest High Street retailer with over 0 million website visits annually, it also serves around 0 million customers per year through its network of 70 stores. For further information please visit Tesco Stores Limited Tesco Plc is a British multinational grocery and general merchandise retailer. It has stores in countries across Asia and Europe. Originally a UK focused retailer, Tesco Plc has diversified geographically into areas such as books, clothing, electronics, furniture, toys, petrol, software, financial services and internet services. Tesco Plc is listed on the London Stock Exchange and is a constituent of the FTSE 00 Index. Tesco Stores Limited is a subsidiary of Tesco Plc in the UK. For further information please visit Year End st March 0 Year End nd March 0 Year End rd March 0 Sales Turnover,87,6,000,7,6,000,79,90,000 Pre-Tax Profit,99,000 8,66,000 7,0,000 Tangible Net Worth,7,0,000,9,77,000,70,8,000 Year End nd February 0 Year End rd February 0 Year End th February 0 Sales Turnover,7,000,000,66,000,000,98,000,000 Pre-Tax Profit,696,000,000 9,000,000,6,000,000 Tangible Net Worth,08,000,000,,000,000 6,89,000,000

6 7, 9 & FORE STREET, TIVERTON 6 Proposal VAT EPC,80,000 reflecting a net initial yield of 7.9% after deducting usual purchaser s costs of.8%. This property is elected for VAT and it is proposed that the transaction will take place as a transfer of a going concern (TOGC). EPC rating available upon request. Further Information For further information or to arrange an inspection, please contact: PROPERTY INVESTMENT ADVISORS Mark Shipman markshipman@michaelelliott.co.uk Richard Carter richardcarter@michaelelliott.co.uk Martin Crossley martin.crossley@metrus.co.uk Misrepresentations Act 967 & Declaration: Michael Elliott and Metrus for themselves and for the vendors of this property whose agents they are given notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Michael Elliott and Metrus has any authority to make or give any representations or warranty whatever in relation to this property. May 0 (Q89)