Distribution & Warehouse Investment in the Golden Triangle. Triumph Motorcycle Works, Jacknell Road, Hinckley LE10 3BS

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1 Distribution & Warehouse Investment in the Golden Triangle

2 Investment Summary Prime distribution and warehouse investment located in the Golden Triangle, benefiting from excellent road communications with easy access to the M1, M6 and M69. The property comprises one of two complimentary manufacturing and distribution facilities occupied by Triumph in Hinckley. Rent passing of 779,450 per annum exclusive, reflecting a low base rent of 4.28 per sq ft. We are instructed by our clients to seek a figure in excess of 9,200,000 (nine million, two hundred thousand pounds) subject to contract and exclusive of VAT. An acquisition at this level would reflect a net initial yield of 8%. Constructed in 2002 the property comprises warehousing with research and development and a paint workshop that is vital to Triumph s manufacturing process. Let to the secure covenant of Triumph Motorcycles Ltd (4A2) with a guarantee from Bloor Holdings Ltd (5A1) with over four years unexpired.

3 Location STOKE-ON-TRENT A50 A52 NOTTINGHAMSHIRE M6 A50 A38 DERBY A50 M1 STAFFORD A515 A38 A42 LOUGHBOROUGH M54 M6 A449 A5 M6 TOLL HINCKLEY M42 M1 LEICESTER A449 M6 A5 A38 M69 A491 M5 BIRMINGHAM A45 M42 M6 COVENTRY A45 A46 M6 A45 A5 A426 RUGBY M1 M40 A426 NORTHAMPTON

4 Location Hinckley is located approximately half way between Leicester and Coventry within the East Midland s Golden Triangle, which is bordered by the M1, M6 and M69 Motorways. The Golden Triangle remains at the epicentre of the UK distribution warehouse market attracting main stream occupiers who want to be at the heart of the UK s motorway network. Motorway Junctions Distance (miles) HGV Drive Times M69 J1 3.3 miles 12 minutes M6 J3 / M42 J miles 33 minutes Towns Distance (miles) HGV Drive Times Leicester 16.5 miles 46 minutes Coventry 19.5 miles 47 minutes Birmingham 27.6 miles 1 hr 6 minutes London 99.1 miles 3 hrs 47 minutes Manchester 99.3 miles 3 hrs 14 minutes Leeds miles 3 hrs 12 minutes Glasgow miles 8 hrs 21 minutes Edinburgh miles 8 hrs 57 minutes Airports Distance (miles) HGV Drive Times Coventry 15.6 miles 36 minutes Birmingham 26.7 miles 55 minutes East Midlands 30.9 miles 58 minutes Luton 69.3 miles 2 hrs 21 minutes Manchester 93.4 miles 2 hrs 56 minutes Heathrow 99.3 miles 3 hrs 13 minutes Gatwick miles 4 hrs 1 minute Ports Distance (miles) HGV Drive Times Hull miles 3 hrs 35 minutes Southampton miles 3 hrs 57 minutes Felixstowe miles 4 hrs 11 minutes Source:

5 Situation The property is situated on Jacknell Road, accessed via Dodwells Road and the A5. Dodwells Road is the main link road, providing access to both Harrowbrook Industrial Estate and Dodwells Bridge Industrial Estate where the main concentration of industrial/distribution activity is located within Hinckley. The property is strategically situated to compliment Triumph s 420,000 sq ft manufacturing facility and Headquarters only 700m to the north west. We understand that the headquarters building is let on a long lease and therefore the subject property has good potential for re-gear. TRIUMPH MOTORCYCLES A5 DODWELLS BRIDGE INDUSTRIAL ESTATE Jacknell Road A47 Dodwells Road A47 Dodwells Road Ashby de la Zouch Canal Faraday Road TESCO RDC DODWELLS BRIDGE INDUSTRIAL ESTATE Harrowbrook Road Newton Road Nuffield Road Watling Street Watling Street B4666 Coventry Road A5 A47 HARROWBROOK INDUSTRIAL ESTATE TRIUMPH MOTORCYCLES FACTORY & HQ A47 Whittle Road Paddock Way Brindley Road Dodwells Road Fleming Road O d sto n Ashby de la Zouch Canal R adius Crescent B4666 Coventry Road e Paddock Way A47 tts C Love D riv e lose Long Meadow Drive Brascote Road Ashby de la Zouch Canal B4666

6 Situation Alliance Healthcare 2. DS Smith 3. Hammonds 4. Norbert Orcs 5. Amtin 6. Sigma 7. Voestalpine Rotec 8. Tesco Hinckley Commercial Park DPD CAT Armstrong Johnsons Eurokey Syncreon

7 Description In 2002 the majority of the site was destroyed by fire which resulted in redevelopment to a modern specification. The property comprises a warehouse with nine bays and a paint shop constructed to provide a single facility. The warehouse has well specified offices (including canteen and reception) over two floors with a specification to include raised floors and air-conditioning. Access to the rear of the unit is gained by a further five surface level roller shutter doors. Detached from the main building is a single storey Research & Development office. The site is secure with perimeter fencing and access via a manned gatehouse. It benefits from 274 car spaces on site. The eaves range from 5m to 9m (at the haunch) in the main body of the warehouse and 3.8m in the paint shop. The warehouse is served by two substantial service yards, with three canopies, five dock level doors and three surface level roller shutter doors.

8 Accommodation The property provides the following gross internal floor areas (GIA). Sq M Sq Ft Factory/Warehouse 14, ,451 Offices, canteen, reception etc 1, ,504 Research and Development 1, ,059 16, ,014 Ancillary buildings ,027 Canopies ,210 Total 17, ,242 Note - The large canopy attached to bay and part of offices are tenants improvements and not included in the GIA. The site area is ha ( acres) with a site density of 41%. Tenure The building is held freehold. Tenancy The property is let to Triumph Motorcycles Ltd (with a guarantee from Bloor Holdings Ltd) for a term of 25 years from 25 March 1994, to expire on 24 March The rent passing with effect from 25 March 2014 is 779,450 per annum (reflecting 4.28 per sq ft on the warehouse accommodation).

9 Triumph grew out of the rich motor history of Coventry, where they were based before the second World War. John Bloor purchased the company in 1983 and Triumph started producing motorcycles again in the 1990s from this site in Hinckley. Today Triumph operations are centred in Hinckley in two facilities. The subject warehouse is used mainly to distribute after sales globally, but also includes a paint shop and the company s Research & Development operation. Triumph s Headquarters are only 700m to the north west. From this location, the bulk of manufacturing takes place, servicing the UK and Europe.

10 Covenant Covenant Status Triumph Motorcycles Limited (Company No ) 30 Jun Jun Jun 2011 Sales Turnover 333,702, ,760, ,452,000 Profit / (Loss) Before Taxes (12,792,000) 2,659,000 4,580,000 Tangible Net Worth 34,894,000 44,320,000 42,298,000 Net Current Assets (Liabilities) 29,558,000 28,535,000 30,946,000 The Dun & Bradstreet rating of 4A2 shows a financial strength of 34,894,000 (based upon tangible net worth) and an overall condition which represents lower than average risk. Bloor Holdings Ltd (Company No ) 30 Jun Jun Jun 2011 Sales Turnover 759,956, ,852, ,111,000 Profit / (Loss) Before Taxes 35,587,000 40,743,000 22,807,000 Tangible Net Worth 451,087, ,014, ,325,000 Net Current Assets (Liabilities) 439,393, ,700, ,408,000 The Dun & Bradstreet rating of 5A1 shows a financial strength of 451,087,000 (based upon tangible net worth) and an overall condition which represents minimum risk.

11 The Offer Comparable Investment Market Evidence Tenant Address Sq Ft Lease Price Yield Date Thyssenkrupp Redfern Park, Birmingham 220,769 7 years 15.1m 6.28% Oct 14 Armstrong Commercial Park, Hinckley 97, years 7.78m 6.47% Sep 14 Royal Mail Winwick Quay, Warrington 183,474 4 years unexpired 7.68m 7.75% Aug 14 Thyssenkrupp Brierley Road, Preston 146, years unexpired 7.3m 7.70% Jun 14 Ceva Earlstree Industrial Estate, Corby 196, years unexpired, annual 3% uplifts 7.024m 7.57% Jun 14 L Oreal Sherwood Park, Nottingham 126,057 7 years unexpired, fixed uplift in m 6.48% Jun 14

12 The Offer VAT We understand that the property has been elected for VAT. It is intended the sale will be treated as a Transfer of a Going Concern. Proposal We are instructed by our clients to seek a figure in excess of 9,200,000 (nine million, two hundred thousand pounds) subject to contract and exclusive of VAT. An acquisition at this level would reflect a net initial yield of 8%, allowing for purchaser s costs of 5.8% Further Information For further information please contact: 3 Brindleyplace, Birmingham B1 2JB Damian Lloyd Direct Line: damian.lloyd@gva.co.uk Barry Riley Direct Line: barry.riley@gva.co.uk 10 Stratton Street, London W1J 8JR Gavin Quinn Direct Line: gavin.quinn@gva.co.uk gva.co.uk/8176 January 2015 GVA is the trading name of GVA Grimley limited, conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT. January All computer generated images and photographs are for indicative purposes only. Designed and produced by Core. Tel: