CONVENIENCE STORE INVESTMENTNew Street, Chelmsford, Essex

Part of an iconic development, Marconi Evolution

2Convenience Store Investment New Street, Chelmsford, Essex

LOCATIONChelmsford is the county city of Essex and in addition to it being the commercial and administrative hub for the County it is also a powerful retailing and leisure destination. It was granted City status in 2012.

The city is strategically located 30 miles north east of London and serves as an important commuter town for the City of London. There is a direct mainline railway service from Chelmsford to London Liverpool Street with a fastest journey time of 35 minutes running nine services per hour at peak times. Chelmsford also enjoys an impressive road network being located by the A12 which leads directly to the M25 (Junction 28), while the M11 is just 12 miles to the west.

Chelmsford has a primary catchment population of approximately 407,000. It boasts an affluent population compared to the national average with 60% classed within the AB and C1 demographic profile groups compared to a UK average of 53% (Source: PROMIS).

RETAIL AND LEISURE IN CHELMSFORDChelmsford is a major shopping and leisure destination within Essex. Its stature has recently been significantly elevated following the opening of the Bond Street Shopping Centre an exciting new retail and leisure development in September 2016.

The new centre boasts a 120,000 sq. ft. John Lewis department store and 20 additional retail units as well as a large leisure element comprising a 5 screen Everyman cinema.

MARCONI EVOLUTION Marconi Evolution is a mixed use scheme in close proximity to Chelmsford City Train Station. The Scheme has created an area of high population density and has been designed to provide an excellent improved pedestrian access to/from the University/New Street area of the City to the Train Station through the retail and commercial part of the development.

PREMISESThe property is situated in a prominent main road location on the corner of New Street and Marconi Road. Within a short distance lies Anglia Ruskin University.

The premises comprise a ground floor retail store totally approximately 3,900 sq. ft. (362 sq. m.)

TENUREA 125 year leasehold interest from 21st December 2016 with a ground rent of £250 pa. This leasehold interest is subject to the occupational tenancy.

LEASEA 15 year term to the Co-Operative Group Food Ltd being on effective full repairing and insuring lease by way of service charge from 03.07.2017 at £70,000 pax subject to 5 year reviews being subject to a cap of 3% and collar of 1% of CPI.

The tenant has an option to break on 03.07.2027 and an option to renew the lease for a further 15 years from expiry of the current term.

TENANTThe Co-Operative Group Food Limited

Company Number: IP26715R

The Experian Business Express Report classifies the Co-Operative Group Food Limited as below average risk and their total net worth on their most recent accounts filed in January 2016 reflected in excess of £1.3 billion.

LEGAL COSTSEach party to be responsible for their own legal costs.

INVESTMENT HIGHLIGHTS• A newly completed residential

development in the heart of the City Centre close to the station and benefitting from a new pedestrian link to the New Street area of the City and Anglia Ruskin University Campus.

• Let to The Co-Operative Group Food Limited

• Lease until 02.07.2032

• Rent £70,000 per annum

• 5 yearly CPI linked rent reviews

3Convenience Store Investment New Street, Chelmsford, Essex

IMPORTANT NOTICE

Maps are reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd, and published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

Savills, their clients and any joint agents 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 | October 2018

PROPOSALOffers are sought in the region of £1,100,000 to show a net initial yield of 6% after allowing for purchaser costs at 6.2%

VATVAT will be applicable

CONTACTFor further information please contact:

Mike Storrsmstorrs@savills.com 01245 293 228

James Willsjalw@fennwright.co.uk 01245 261 226

John Loganjdl@fennwright.co.uk 01245 261 226

4Convenience Store Investment New Street, Chelmsford, Essex

Railway Station