TESCO.COM CROYDON. 33 Factory Lane CR0 3RL. Prime London Distribution Investment

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1 TESCO.COM CROYDON 33 Factory Lane CR0 3RL Prime London Distribution Investment

2 INVESTMENT SUMMARY - Croydon is a key commercial centre with easy access to Central London (9 miles) and the M25 (6 miles). - Well located close to the A23, Purley Way. - Modern distribution unit totalling 172,680 sq ft (16,042 sq m), with 17,929 sq ft (1,666 sq m) of additional loading canopies degree circulation with 34 loading doors along three elevations. - Site area 8.8 acres - 44% site cover. - The property is currently used as a dot.com warehouse and includes a dark store. - Freehold. - Let to Tesco Stores Limited until 23rd October 2020, with a rent review in October The passing rent is 1,227,000 per annum, which equates to only 6.70 per sq ft. - Offers invited in excess of 19,000,000 (Nineteen Million Pounds) which reflects a net initial yield of 6.1%, allowing for standard purchaser s costs of 5.8%.

3 WEST END CITY To Central London A23 A236 Roman Way West Croydon CROYDON East Croydon Factory Way 2 million sq ft redevelopment Wandle Park Tramlink A23 A236 Roman Way To M25-6 Miles

4 LOCATION Croydon is an important industrial/ distribution location due to its proximity to Central London and the national motorway network. 21 million people can be reached within a 2.25 hour drivetime; 48.2 million within a 4.5 hour drivetime. The A23 provides a direct link with Central London 9 miles to the north and junction 7 of the M25, 6 miles to the south. The M23 connects through to Gatwick Airport 18 miles to the south. London Heathrow lies 23 miles to the west. The Ports of Tilbury, Dover, London Gateway, Southampton and Felixstowe are all within 2.25 hours drivetime. Rail connections are excellent with frequent services from East Croydon station to London Bridge, Victoria and Gatwick Airport. The fastest journey time to London is approximately 15 minutes, with trains leaving every few minutes. Croydon is also connected to Wimbledon, New Addington and Beckenham by the TramLink, which was completed in 2002 at a cost of approximately 200m. Wandle Park TramLink station lies 500m to the west. CROYDON REGENERATION The London Borough of Croydon (LBC) has a clearly stated ambition to regenerate the town centre and build upon the existing commercial centre. LBC s 2020 Vision seeks to promote Croydon as a hub for business, living and culture within South London and the context of the South East generally. Hammerson and Westfield have recently entered into a 50/50 joint venture called The Croydon Partnership to transform the Whitgift and Centrale Shopping Centres. The 1bn mixeduse scheme will include retail, leisure and residential units with the potential for hotels/offices and will further confirm Croydon s dominance as the main centre serving South London. East Croydon railway station is currently the subject of a significant upgrade and work has commenced on the adjoining Ruskin Square Development, designed by Foster & Partners. For more information, please see com and planningandregeneration SITUATION The property is located just off the main A23 Purley Way, a key commercial area. Industrial occupiers include Amazon, Royal Mail, WH Smith, Kuehne & Nagel and DPD. In addition, there are a number of higher value uses within close proximity of the subject property including a Sainsbury s Supermarket (immediately to the south); the Purley Way retail warehouse centre and Barratt s New South Quarter Scheme. The southern side of Purley Way comprises retail warehousing fronting the main road where occupiers include John Lewis (Home), Currys, PC World and Next Home amongst others, with various industrial estates behind. 500m to the west lies the iconic IKEA store. Reading, Swindon & Bristol Woking, Basingstoke & Southampton M25 J12 Guilford & Portsmouth Heathrow Airport M3 J10 M4 A3 A316 Wimbledon Victoria Clapham Junction Gatwick Airport Kings Cross Waterloo CROYD DON N A23 J7/8 A23 A235 A22 St Pancras Tram Train / Underground Blackfriars London Bridge Beckenham Junction New Addington Biggin Hill Airport Canada Water DLR Canary Wharf M25 Eurostar to Paris, Brussels & Lille Maidstone SAT NAV: CRO 3RL London Overground

5 A236 Roman Way Factory Lane To Central London Croydon Energy Power WANDLE PARK New South Quarter Scheme A23 Purley Way Progress Way Business Park Commerce Trade Park To M25-6 Miles

6 DESCRIPTION The property comprises a modern distribution unit built in 1989 of steel portal frame construction with profile metal clad elevations. The specification includes: 12 dock levellers and 2 docks under separate canopy 20 level access doors Covered loading bay 8m eaves Security gate house with barrier controlled access Separate vehicle maintenance unit 10% office content 360 degree circulation Parking for 210 cars Parking for 120 vans The property is currently fitted out as a dot.com warehouse, including a dark store, which forms part of Tesco s E-fulfilment distribution network and serves the South London market. It is a 24/7 operation. ACCOMMODATION The gross internal floor areas can be summarised as follows: sq ft sq m Warehouse 156,071 14,499.5 Ancillary Office 16,609 1,543 Total 172,680 16,042.5 Loading Canopy 17,929 1,665.6 There is a Plowman and Craven measured survey dated May 2012, which can be assigned to the Purchaser.

7 Factory Lane 32 SITE Waste Transfer Station Commercial Fa The site extends to approximately 8.8 acres (3.55 hectares), reflecting a site cover of only 44%. TENURE Freehold. Electricity Generating Station Ground Sub Staion TENANCY The property is let to Tesco Stores Limited for a term of 15 years expiring 23rd October 2020, with no breaks. The current rent passing is 1,187,800 per annum, which equates to 6.70 per sq ft. This includes 25% applied to the loading canopy totalling 17,929 sq ft, which was agreed at the last review. There is a further review on the 24th October In addition, there is rent payable relating to the additional car parking which currently equates to 39,200 per annum. Tesco Warehouse The total rent currently receivable from the property is 1,227,000 per annum. Park Argos Extra Park Park Park

8 COVENANT INFORMATION Tesco Stores Limited is a subsidiary of Tesco Plc which is listed on the London Stock Exchange. Tesco Stores Limited (company no ) has a Dun and Bradstreet rating of 5A2 representing a lower than average risk of business failure based on a tangible net worth of 3.113bn. The latest full year accounts can be summarised as follows: Year Ending 23/02/ s Year Ending Feb s Year Ending Feb s Sales Turnover 42,662,000 41,981,000 40,149,000 Pre-Tax Profit 921,000 2,126,000 2,243,000 Tangible Net Worth 3,113,000 6,894,000 6,954,000 VAT The property is elected for VAT purposes and it is anticipated that the sale will be treated as a transfer of a going concern. EPC PROPOSAL The property has an EPAR of D80 further details available upon request. Offers invited in excess of 19,000,000 (Nineteen Million Pounds) which reflects a net initial yield of 6.1%, allowing for purchaser s costs of 5.8%. To arrange an inspection, please contact: ADDITIONAL INFORMATION Ed Cornwell edward.cornwell@bnpparibas.com Edward Jackson Edward Price A dataroom will be available to interested parties which will include title information, lease/associated documentation, Measured Survey, Building/Environmental Survey dated March 2012 prepared by GVA, all of which can be assigned to the Purchaser edward.jackson@bnpparibas.com edward.price@bnpparibas.com Misrepresentation Act 1967: BNP Paribas Real Estate Advisory & Property Management UK Limited for themselves and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1. These particulars do not constitute, nor constitute any part of, an offer or contract. 2. None of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact. 3. Any intending purchaser or lessee must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor(s) or lessor(s) do not make or give and neither BNP Paribas Real Estate Advisory & Property Management UK Limited nor any person in their employment has any authority to make or give, any representation or warranty whatever in relation to this property. Finance Act 2013: Unless otherwise stated all prices and rents are quote exclusive of VAT. The Business Protection from Misleading Marketing Regulations 2008: These details are believed to be correct at the time of compilation but may be subject to subsequent amendment. November 2014.