316-318 HigH Street, LincoLn, Ln5 7DP Prime FreeHoLD retaiL Unit Let to tHe UnDoUbteD covenant oF barcLayS bank PLc

Investment summary

• Freehold retail unit located within Lincoln’s prime retailing pitch.

• This modern retailing unit is prominent and well configured,benefiting fromareturn frontageandglazed elevations.

• Let in itsentirety toBarclaysBankPLCona fullrepairingandinsuring leaseforatermof20yearsfrom14August2006withatenant’soptiontobreakafteryear15.

• Therent increasedto itscurrent levelof£146,000perannumatthelastrentreviewdated25December2011.Thenextupwardsonlyrentreviewisdueon25December2016.

• Lincolnisthedominantretailcentreforitscatchmentpopulationandbenefitsfromtwouniversitiesaswellas a strong tourist trade.

• HighStreetbenefits fromahighconcentrationofnational multiple retailers including Marks & Spencer andBHSdepartmentstores,Boots,River Island,Monsoon,Starbucks,LauraAshleyandPrimarkaswellasahostofothernationalmultipleretailers.

• Offersare invited inexcessof£2,510,000 for thefreeholdinterestoftheproperty,reflectinganet Initial yield of 5.50% assuming standard Purchaser’s costs of5.80%,subjecttocontract.

• Thepropertyhasnotbeenoptedtotax,thereforeVATisnotapplicableonthepurchasepriceofthisproperty.

316-318 HigH Street, LincoLn, Ln5 7DP Prime FreeHoLD retaiL Unit Let to tHe UnDoUbteD covenant oF barcLayS bank PLc

LOCatIOn

The historic cathedral city ofLincolnislocatedapproximately143 miles (230 km) north ofLondon,46.8miles(75.3km)eastofSheffieldand39.3miles(63.2km)northeastofNottingham.

CentralLincolnisservicedbytheA15andA57.TheA57providesaccess to theA46to thenorthwest which in turn provides accessto theA1.FurtherwesttheA57providesaccessto theM1motorway(junction31).TheA15linkstotheM180tothenorthandPeterboroughtothesouth.

Lincoln Central train station is locatedwithincloseproximityandwalkingdistanceofHighStreet.TrainsfromLincolnCentralstationprovideregularservicestoLondonKingsCrossviatherailwaynetworkwiththefastestdirecttraintimeof1hour56minutes.

HumbersideandEastMidlandsairportsarebothwithin52miles(83.7km)ofLincoln.

LInCOLn

A46

newark-on-trent

Sheffield

Doncaster

Mansfield

nottingham

A1

A52

A17A17

A46

A46A15

A15

A15

A17

A158

A158A158

A15

A15

A15

A159

A159

A156

A156

A57

A1

A1

A57

A630

A61

A617

A617

A617

A614

A614

A60

A60

A60

A38

A38 A610

A614

A6097

A635 A630

A638

A631

A631A1103

A46

A46

A18

A1173

A46

A6182

316-318 HigH Street, LincoLn, Ln5 7DP Prime FreeHoLD retaiL Unit Let to tHe UnDoUbteD covenant oF barcLayS bank PLc

CatCHment & DemOGraPHICsTheCityofLincolnCouncilAnnualreport2013-2014statesthatLincoln’spopulationstandsat95,600residents,withLincolnshire’scountypopulation(2011Census)beingapproximately713,653.Thecityhoststwouniversities,theUniversityofLincolnandBishopGrossetesteUniversity.Thecity’smainuniversity,theUniversityofLincolnhosted12,835studentssupportedby1,363membersofstaffinthe2013/2014academicyear.

Lincolnisdominantintermsofretailingwithinthecatchmentareaduetothelackofcompetingretailcentres incloseproximity.Thecountyandcity’scatchment togetherwith thecity’s largestudentpopulationandvibranttourismtradewithattractionsincludingLincolnCastle,thehomeofMagnaCartaandLincolnCathedralallhelptoboostthestrengthofthetown’sretailingeconomyandexpenditure.

sItuatIOnThesubjectpropertyoccupiesaprimeretailpositionontheeasternsideofthepedestrianisedHighStreetwithareturnfrontageontoCornhill.HighStreetprovidesanatural thoroughfaretoallof theprimeretailingwithin the town.Tenantsnearby includeMarks&SpencerandBHSdepartmentstores,Boots,RiverIsland,Monsoon,Starbucks,LauraAshleyandPrimark,inadditiontoahostofothernational multiple retailers.

LincolnCentraltrainstationislocatedtothesouthofthepropertyandthereforethesouthernendofthepedestrianisedpartofHighStreetactsasanaturalshoppingroutefromthetrainstationformanyshoppers and commuters.

Cornhill provides access to Sincil Street and Lincoln’s market.

retaILInG In LInCOLnLincolnisthedominantretailcentreforitscatchmentpopulation.TheHighStreetprovidesanattractiveretailofferingwiththetown’sprimeretailpitchwhichbenefitsfromhighfootfallbeinglocatedbetweenCornhillandHighStreetsjunctionwithGuildhallStreetandSaltergate.TheHighStreetbenefitsfromalargeconcentrationofnationalmultipleretailers includingMarks&SpencerandBHSdepartmentstores,Boots,RiverIsland,Monsoon,Starbucks,LauraAshleyandPrimarkin addition to numerous other national multiple retailers.

WatersideShoppingCentrewhichisaccessedfromHighStreetaddstotheretailingprovisionswithinLincolnandwasrecentlyreconfiguredtoincludeH&MandNext.StMark’sretailcentreisalsosituatedonHighStreetandislocatedtothesouthofthesubjectpropertywithina less prominent pitch.

316-318 HigH Street, LincoLn, Ln5 7DP Prime FreeHoLD retaiL Unit Let to tHe UnDoUbteD covenant oF barcLayS bank PLc

DesCrIPtIOnThishighlyprominentandimposingbankingunitbenefitsfromareturnfrontageontoCornhill.Theexteriorofthepremises,includingtheshopfrontage,benefitsfrommodernglazedelevations.

Barclaysoccupiesthepropertyinitsentirety.ThegroundfloorcomprisesamodernbankinghallincludingATMsandancillaryaccommodation.Thefirstfloorpredominantlycomprisesclientfacilitiesincludingopenmeetingareasandasmallglazedoffice.Thesecondfloorhasfurtherclientmeetingroomsalongwithancillarystaffaccommodationincludingamanager’soffice.Thepropertybenefitsfromacustomerstaircaseandliftbothofwhichservetheground,firstandsecondfloors.Inadditiontothecustomerstaircasethereisastaffstaircasewhichservesallfloors.Thebasementcomprisestworedundantsafesalongwithancillaryaccommodation.

Thepropertyinterlinkstotherearwith20Cornhillatgroundandsecondfloorlevels.20Cornhillisheldunderseparateownershipanddoesnotformpartofthesale.Theliftandbothstaircasesmentionedabovearesituatedtowardsthefrontofthepropertywithin316-318HighStreet.

tenure Freehold.

tenanCy TheentirepropertyislettoBarclaysBankPLConfullrepairingandinsuringtermsforatermof20yearsfrom14August2006withatenant’soptiontobreakafterthe15yearsubjecttonotlessthansixmonthswrittennotice.

Atthelastrentreviewdated25December2011therentincreasedtoitscurrentlevelof£146,000pa.Thenextupwardsonlyopenmarketrentreviewisdueon25December2016.

ThereisaScheduleofConditionattachedtothelease,detailsofwhichareavailableuponrequestfromDunitz&Co.

aCCOmmODatIOnThepropertyprovidesthefollowingGrossInternalAreas(GIA):

Floor sq Ft sq mGroundFloor 1,358 126.21GroundFloorITZA* 1,132* 108.79*Basement 1,104 102.62First Floor 1,207 112.11Second Floor 1,326 123.25tOtaL 4,995 464.19

*Areaincludesa10%allowanceforthereturnfrontageontoCornhill.

AreasarecalculatedonaNetInternalArea(NIA)basisinaccordancewiththeRICSCodeofMeasuringPractice6thedition.

Thecustomerstaircaseandlifthavebeendisregardedfromtheareasasitisassumedthattheyaretenantsfitout.

PLannInGThepropertyislocatedwithintheCityofLincolnCouncil.Tel: +44(0)1522881188Web:

ThepropertyisnotListedbutdoesliewithintheCityofLincolnCathedralandCityCentreConservationAreaNo1.

316-318 HigH Street, LincoLn, Ln5 7DP Prime FreeHoLD retaiL Unit Let to tHe UnDoUbteD covenant oF barcLayS bank PLc

COvenant InFOrmatIOnBarclaysBankPLCtracesitshistorybackto1690andisoneoftheUKslargestbanksprovidingglobalfinancialservices.BarclaysBankPLCoperatesin50countriesaroundtheworldandcurrentlyhasinexcessof132,000employees.

BarclaysBankPLCisapubliclyquotedcompanyandfeaturesontheFTSE100list.Whenlastcheckedthecompanyhadamarketcapitalisationinexcessof£40.0bn.

Dun&BradstreethavegivenBarclaysBankPLCaD&BRatingof5A1representingaminimumriskofbusinessfailure.

Barclays Bank PLCCompany number 1026167

31/12/14(£ 000’s)

31/12/13(£ 000’s)

31/12/12(£ 000’s)

Sales Turnover £32,708,000 £36,873,000 £34,337,000Profit/(Loss)BeforeTaxes £2,309,000 £2,885,000 £99,000TangibleNetWorth £55,614,000 £53,324,000 £52,123,000NetCurrentAssets(Liabilities) £76,831,000 £54,717,000 £47,078,000

Foradditionalinformation,pleasesee .

316-318 HigH Street, LincoLn, Ln5 7DP Prime FreeHoLD retaiL Unit Let to tHe UnDoUbteD covenant oF barcLayS bank PLc

Investment COnsIDeratIOns• Prominentandwellconfiguredfreeholdretailunitbenefittingfromareturnfrontage

and glazed elevations.

• LetinitsentiretytotheundoubtedcovenantofBarclaysBankPLCwhichisaFTSE100companyandhasaD&Bratingof5A1representingminimumriskofbusinessfailure.

• Letonfullrepairingandinsuringtermsfor20yearsfrom14August2006withatenant’soptiontobreakafteryear15.

• Atthelastreviewtherentincreasedto£146,000pa,withthenextupwardsonlyopenmarketrentreviewdueon25December2016.

• Lincolnisthedominantretailcentreforitscatchmentpopulationandbenefitsfromalargestudentpopulationinadditiontobeingapopulartouristdestination.

• The property is situated within Lincoln’s prime retailing pitch with occupiers in close proximityincludingMarks&SpencerandBHSdepartmentstores,Boots,RiverIsland,Monsoon,Starbucks,LauraAshleyandPrimarkaswellasavarietyofothernationalmultiple retailers.

• 200/201HighStreetLincolnwassoldinJanuary2014for£5,780,000representingaNIYof4.50%withthebenefitofanew15yearleasetoRiverIslandClothingCoLtd.

• Thepropertyhasnotbeenoptedtotax,thereforeVATisnotapplicableonthepurchasepriceofthisproperty.

ePC

The property has an EPC rating of115 (BandE).A full copyof theEPC isavailablefromDunitz&Co.uponrequest.

vatThepropertyhasnotbeenoptedtotax.

316-318 HigH Street, LincoLn, Ln5 7DP Prime FreeHoLD retaiL Unit Let to tHe UnDoUbteD covenant oF barcLayS bank PLc

50 metresFor more information on our products and services:www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011

Lincoln

Experian Goad Plan Created: 17/09/2015Created By: Dunitz and Co Ltd

Copyright and confidentiality Experian, 2015. © Crown copyright and database rights 2015.Ordnance Survey 100019885

TO BEURBAN SKIN CLINICTO B

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DUNITZ&COMPANYLTD:DISCLAIMER

Dunitz&CompanyLtdforthemselvesandforthevendorsorlessorsofthispropertywhoseagentstheyare,givenoticethat:-

1. Theparticularsaresetoutasageneraloutlineonlyforguidanceanddonotconstitute,norconstitutepartofanofferorcontract;

2. Leasedetails,servicecharges,groundrent(whereapplicable)andcounciltaxaregivenasaguideonlyandshouldbecheckedandconfirmedbyyoursolicitorpriortoexchangeofcontracts;

3. Alldescriptions,dimensions,referencestoconditionandnecessarypermissionsforuseandoccupation,andotherdetailsarebelievedtobecorrecthoweverwehavenotcarriedoutastructuralsurveyandanyintendingpurchasers,tenantsorthirdpartiesshouldnotrelyonthemasstatementsorrepresentationsoffactbutsatisfythemselvesthattheyarecorrectbyinspectionorotherwise;

4. NopersonintheemploymentofDunitz&CompanyLtdhasanyauthoritytomakeorgiveanyrepresentationorwarrantywhateverinrelationtotheproperty;and

5. ThephotographsshowonlycertainpartsofthepropertyastheyappearedatthetimetheyweretakenandthecopyrightofthesameremainexclusivetoDunitz&CompanyLtd.

DesignedbyGraphicOutlinesLtd.September2015

PrOPOsaLOffersinexcessof£2,510,000(TwoMillionFiveHundredandTenThousandPounds)areinvitedforthefreeholdinterestoftheproperty,reflectinganet Initial yield of 5.50%assumingstandardPurchaser’scostsof5.80%,subjectto contract.

FurtHer InFOrmatIOn

Forfurtherinformationortoarrangeaninspectionoftheproperty,pleasecontact:

James DunitzTel: +44(0)2074868000Fax: +44(0)2031378010Email:

Dunitz&Co.40MargaretStreetLondonW1G0JH

Theplanisindicativeandforreferencepurposesonly.ATitleplancanbeprovideduponrequest.

Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250

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