Prime high street investment opportunity ORTY NORTHGATE NORTHGATE STREET, CHESTER

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1 Prime high street investment opportunity ORTY NORTHGATE NORTHGATE STREET, CHESTER

INVESTM SUMMARY Chester is an affluent and historic Cathedral City and a main tourist destination, which attracts

Prime ground floor retail unit fronting Northgate Street, with upper floor ancillary storage Freehold Single-Let

20 Excellent growth potential with nearby redevelopment plans Chester is ranked in the Top 5 UK Retail Centres

2 INVESTM SUMMARY Chester is an affluent and historic Cathedral City and a main tourist destination, which attracts over 8 million visitors per annum. Prime ground floor retail unit fronting Northgate Street, with upper floor ancillary storage Freehold Single-Let to Specsavers Optical Superstore Ltd for a term expiring 28 September 2022 Outstanding Rent Review 29th September 20 Excellent growth potential with nearby redevelopment plans Chester is ranked in the Top 5 UK Retail Centres Rent Passing is 95,000 per annum Offers in Excess of,600,000 (One Million Six Hundred Thousand Pounds) exclusive of VAT, reflecting a Net Initial Yield of 5.59% after purchaser s costs of 6.4%.

A548 NEW C R Roodee Chester Racecourse S T R E ET RAYMO N D City Walls Road Nuns Road ST MARTIN S WAY N A NE STREET A483 Grosvenor Bridge ICHOLAS ST Grey Friars Black Friars Castle Drive NORTHGATE

ST JOHN ST Amphitheater Old Dee Bridge HOOLE WAY ST OSWALD S W A548 Wallasey Moreton 2 A553 Birkenhead 3 Heswall Flint A59 A540 4 M53 A55 A494 A4 A550 5 6 A5 0 4 LOCATION Chester is an affluent and

The city is a tourist destination, attracting over 8 million visitors per annum and is one of the premier retailing destinations in the north of England.

A56 A533 A49 2 20 9 M6 A556 NORTHWICH A533 Chester has a mainline railway station with frequent services to London Euston (2 hours), Liverpool Lime Street (45 minutes) and Manchester Oxford Road (

3 A548 NEW C R Roodee Chester Racecourse S T R E ET RAYMO N D City Walls Road Nuns Road ST MARTIN S WAY N A NE STREET A483 Grosvenor Bridge ICHOLAS ST Grey Friars Black Friars Castle Drive NORTHGATE ST BRIDGE ST Cathedral CHESTER WATERGATE ST EASTGATE ST County Hall GROSVENOR RD GROSVENOR RD PEPPER ST R I V E R LOWER CASTLE ST P City Wall BRIDGE ST D E E City Walls LIT. ST JOHN ST Amphitheater Old Dee Bridge HOOLE WAY ST OSWALD S W A548 Wallasey Moreton 2 A553 Birkenhead 3 Heswall Flint A59 A540 4 M53 A55 A494 A4 A A5 0 4 LOCATION Chester is an affluent and historic Cathedral City, located 20 miles south of Liverpool, 40 miles south west of Manchester and 2 miles northwest of Birmingham. The city is a tourist destination, attracting over 8 million visitors per annum and is one of the premier retailing destinations in the north of England A4 0 2 LIVERPOOL River Mersey CHESTER A55 A5058 Ellesmere Port A55 A562 6 Liverpool John Lennon Airport Speke A5 A5300 Widnes A55 M56 A54 2 M62 A55 A533 A556 A A WARRINGTON A56 A533 A M6 A556 NORTHWICH A533 Chester has a mainline railway station with frequent services to London Euston (2 hours), Liverpool Lime Street (45 minutes) and Manchester Oxford Road ( hour 0 minutes). The city benefits from excellent road communications, with the M56 and M53 located 4 miles to the North. In addition, the A55 North Wales Expressway provides direct dual carriageway access into North Wales. Chester benefits from a substantial Primary Catchment of 80,000, ranking the city 5th in the PROMIS Centre rankings.

4 Grosvenor Shopping Centre PEPP ER ST ST ID ST R GAT E B FORE G E S T GROSVENOR GAT E CHESTER CITY CRE RETAIL CORE ST G A TE S T EAST Chester Cathedral O N ORTY NORTHGATE R TH Chester Northgate Development Phase due for completion 209 Forum Shopping Centre WAT E R GAT E ST

RETAIL IN CHESTER Chester s central shopping area is concentrated along the streets leading from The Cross.

The central shopping area has a historic cultural and architectural heritage, with Chester s unique feature of Row-level trading creating an attractive shopping environment.

The scheme has recently been the subject of a 200m redevelopment project, aiming to create a new city centre shopping area known as Chester Northgate.

5 RETAIL IN CHESTER Chester s central shopping area is concentrated along the streets leading from The Cross. These are Eastgate Street (leading to Foregate Street), Northgate Street, Bridge Street and Watergate Street. The central shopping area has a historic cultural and architectural heritage, with Chester s unique feature of Row-level trading creating an attractive shopping environment. Chester ranks 22nd on the PMA Non-Food Retail Score and 20th on the PMA Fashion Score. The Forum Centre Located directly opposite the subject property and adjacent to the Town Hall and bus station. The scheme has recently been the subject of a 200m redevelopment project, aiming to create a new city centre shopping area known as Chester Northgate. The city has two covered shopping centres: The Grosvenor Centre A 245,000 sq ft Shopping Centre with entrances off Pepper Street, Bridge Street and Eastgate Street and home to the city s department store Debenhams. Other tenants include H&M, River Island, Top Shop, Hugo Boss, Jo Malone & LK Bennett. Proposals include an additional 440,000 sq ft of new retail space of which c.60,000 sq ft has been pre-let to House of Fraser; a new four-star Crowne Plaza hotel, a new market hall, a multiscreen cinema, up to 20 homes and the city s largest car park. Once completed the development will further enhance Northgate Street as a prime retailing location within the city and significantly enrich footfall to this area.

ES S HEALTHSUPPLIMS HEALTHFD CIL OFFICES STEAD & SIMPSON NCIL OFFICES 5 DESIRE CLOTHING LADIES WEAR SUPERMARKET N PLACE USE & LIFTS RANCE YEOMANS OUTDOORS CAMPG GDS & OUT WR 4 SOMERFIELD L ACCESS 2

STREET RAMP SITUATION 8 ADVICE CRE & CAFE LAD FAST FOOD RESTAURANT (2 RETAIL FLOORS) 2A R MCDONALDS BOOTS THE CHEMIST LADIES WEAR - A The subject property occupies a prominent position fronting the

The main entrance to the Northgate Scheme will front Town Hall Square which is a short distance to the north of the subject property.

The majority of the retail provision in the city centre is located within listed buildings and based around Street and Row level shops.

2 6 5 4 3 DWGS 2 STORE ANNE HARVEY MARTINS CTN ZIARNO DUBLIN PACKET TOWN HALL SQUARE 3 33-35 PRET A MANGER THE WHITE COMPANY THE COMMERCIAL THE JAPA CHATWINS NORTH SNAPPY SNAPS FILM DEV PUBLIC HOUSE

6 ES S HEALTHSUPPLIMS HEALTHFD CIL OFFICES STEAD & SIMPSON NCIL OFFICES 5 DESIRE CLOTHING LADIES WEAR SUPERMARKET N PLACE USE & LIFTS RANCE YEOMANS OUTDOORS CAMPG GDS & OUT WR 4 SOMERFIELD L ACCESS 2 BIRTHDAYS CARDS&GIFTS CLAIRES JULIAN GRAVES HEALTH FOOD PHILPOTTS S/WBAR HO TEXT BIG ERTAINM WILD WARREN JAMES INFO CEN TEXTILES DIRECT FIRST AVENUE GUARDIAN Y THE FORUM SHOPPING CRE GOSS STREET RAMP SITUATION 8 ADVICE CRE & CAFE LAD FAST FOOD RESTAURANT (2 RETAIL FLOORS) 2A R MCDONALDS BOOTS THE CHEMIST LADIES WEAR - A The subject property occupies a prominent position fronting the pedestrianised Northgate Street, which boasts a number of high profile national retailers including Zara, Millets, Starbucks, Gap, Molton Brown, Superdrug and Pret. The main entrance to the Northgate Scheme will front Town Hall Square which is a short distance to the north of the subject property. The property therefore sits on the main pedestrian route between the entrance to the proposed scheme and Chester s existing prime high street shopping areas. The majority of the retail provision in the city centre is located within listed buildings and based around Street and Row level shops. Therefore, retail units such as the subject property, with a regular layout and access over one level are highly desirable DWGS 2 STORE ANNE HARVEY MARTINS CTN ZIARNO DUBLIN PACKET TOWN HALL SQUARE PRET A MANGER THE WHITE COMPANY THE COMMERCIAL THE JAPA CHATWINS NORTH SNAPPY SNAPS FILM DEV PUBLIC HOUSE (PEDESTRIANS ONLY EXCEPT TAXIS 6.00PM AM) 3 BAKER & CAFE T L&M CARPHO WAREHOUSE TEL LAKELAND ZARA LADIES & MENS WEAR VISIONEXPRESS OPTICALLAB OPTICIAN (2 RETAIL FLOORS) OASIS DR MARTENS SHOES (2 RETAILFLOORS) 40 VACANT VACANT LADIESWEAR (2 RETAIL FLOORS) SKIPTON BUILDING SOCIETY EL LTD JWLR SPECSAVERS OPTICIANS OPTICIAN NORTHGATE STREET (2 RETAIL FLOORS) ST PETERS CHURCHYARD 5 36 CARL CHRISTOPHER S YANKEE CANDLE 30 PLACE OF WORSHIP 5 SUPERDRUG HEALTH & BEAUTY MOLTONBROWN HEALTH & BEAUTY GAP CONCEPT ART STUDIOS ART GAL (RET) HEALTH & BEAUTY GINO S GELATO CLOTHING 6 STARBUCKSCOFFEE COFFEESHOP 0 VACANT VAC HAIR SUPERCUTS LAMBRETTA MENSWEAR (2 RETAIL FLOORS) 4 L OCCITANE HALIFAX BANK HOTEL CHOCOLAT PANDORA ST WERBERGH ROW 6 - H SAMUEL BIZARRE JWLR&GIFTS 33 MUSIC HALL PASSAGE LOAF BEAVERBROOKS TAXI BAR & RESTAURANT 5 - EE LEEN LANE 9 FUNKY COW FATFACE 6 8 ST WERBERGH STR 3 LA KOO OPTICIAN LINKS OF LONDON - 3 C & G MULLEN DAVID ORMEROD DISAB GDS&EQUIP 20 THE 29 ALLISONS OF CHESTER DUTTONS TELEPHONES O2 JACK W SWINTON BAR & REST 5 GODSTALL LANE LADIES 4-5 RANCE INS OFF COFFEE SHOP CAFFE NERO SHOES 25 VACANT JONES BO PYRAMID CHINA & GL THE LIVING VAC V PIA INT DECOR HOBBS 23 HEADS & TA SANDWICH BAR BAR & REST 6 ANNABELLA CAFE UND L/WR 2 CAFE VENU 2 CARPHONE WARE TELEPHONES EASTGATE (2 RET (PED

TENANCY The property is let to Specsavers Optical Superstores Limited by way of a new 0 year lease from 29th September

The rent review on 29th September 20 is outstanding.

DESCRIPTION The property is arranged over ground and first floor and comprises a modern unit of brick construction with a

The ground floor provides retail sales accommodation with some ancillary storage, whilst the first floor is currently used

7 TENANCY The property is let to Specsavers Optical Superstores Limited by way of a new 0 year lease from 29th September 202, expiring 28th September 2022, at current rent passing of 95,000 pa. This reflects a low Zone A rate of 4.60 per sq ft. The rent review on 29th September 20 is outstanding. The lease was subject to a 5 year break, however, the tenant has chosen not to exercise this. DESCRIPTION The property is arranged over ground and first floor and comprises a modern unit of brick construction with a mock tudor façade to the first floor front elevation. The ground floor provides retail sales accommodation with some ancillary storage, whilst the first floor is currently used for storage, although previously offered sales space. ACCOMMODATION We understand that the property provides the following approximate net internal floor areas: Unit Use Sq m Sq Ft Ground floor Sales 08.4,6 (ITZA) Store First Floor Sales Store Total ,38

ORTY NORTHGATE NORTHGATE STREET, CHESTER TENURE RAL VALUE PROPOSAL We are instructed to seek Offers in Excess of,600,000 (One Million Six Hundred Thousand Pounds) exclusive of VAT, reflecting a Net

8 ORTY NORTHGATE NORTHGATE STREET, CHESTER TENURE RAL VALUE PROPOSAL We are instructed to seek Offers in Excess of,600,000 (One Million Six Hundred Thousand Pounds) exclusive of VAT, reflecting a Net Initial Yield of 5.59% after purchaser s costs of 6.4%. Freehold. We devalue the passing rent to 4.60 Zone A. VAT The property is elected for VAT and as such VAT will be payable on the purchase price. The most notable lettings on the street reflect between 80 ZA and 95 ZA, which is underpinned by the open market letting at 9/3 Northgate Street to Zara at a Zone A rate of 95 psf. The Molton Brown rent review at 26/28 Northgate Street was settled at 88 psf Zone A. CONTACT Simon Marshall DD M E simon.marshall@cushwake.com Bruce Poizer DD M E bruce.poizer@cushwake.com Giovanni Pilla DD M E giovanni.pilla@cushwake.com cushmanwakefield.co.uk Misrepresentation Act 96. Unfair Contract Terms Act 9 The Property Misdescriptions Act 99. These particulars are issued without any responsibility on the part of the agent and are not to be construed as containing any representation or fact upon which any person is entitled to rely. Neither the agent nor any person in their employ has any authority to make or give any representation or warranty whatsoever in relation to the property. Feb 208. RB&Co

Prime Cathedral City Retail Investment CHESTER NORTHGATE STREET CH1 2HA FOR SALE

Prime Cathedral City Retail Investment CHESTER 30-34 NORTHGATE STREET CH1 2HA FOR SALE INVESTMENT SUMMARY INVESTMENT SUMMARY Prime cathedral city centre retail block; Superdrug, Gino s Gelato + kiosk;