PAGE TITLE TITLE NOTTINGHAM CITY CENTRE INTRO PARAGRAPH. Body copy A RESIDENTIAL LED, MIXED USE INVESTMENT OPPORTUNITY, IN TWO PRIME LOCATIONS

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1 PAGE TITLE INTRO PARAGRAPH TITLE Body copy NOTTINGHAM CITY CENTRE A RESIDENTIAL LED, MIXED USE INVESTMENT OPPORTUNITY, IN TWO PRIME LOCATIONS

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3 PARK & CASTLE A RESIDENTIAL LED, MIXED USE UNBROKEN FULLY LET INVESTMENT OPPORTUNITY, IN TWO PRIME LOCATIONS WITHIN THE HEART OF NOTTINGHAM CITY CENTRE. Castle View, (Even) Castle Boulevard Nottingham NG7 1FL Westcliffe Court, 45/47 Lenton Road The Park, Nottingham NG7 1DW INVESTMENT SUMMARY + An extremely rare opportunity to secure two closely located unbroken freehold properties finished to a very high specification by renowned developers in preferred prime locations within central Nottingham + Both properties are situated within the prestigious Park Estate, with the Castle Boulevard properties being accessed off this peripheral road at its borders + Both properties have excellent access to the Nottingham city centre and both its universities + Castle View, Castle Boulevard comprises seven adjacent townhouses, developed between , to exacting standards incorporating ancillary commercial units + Westcliffe Court, 45/47 Lenton Road comprises eight self contained flats in one block, converted in 2006, and let to the student sector of the market on full 12 month tenancies + In total, 10 residential units, 8 student units and 4 commercial units, all within two properties + The residential and student accommodation income is contracted. The commercial accommodation is occupied by the Vendor who will leaseback simultaneously with legal completion of the sale + Castle View, Castle Boulevard has a combined contracted and leaseback gross income of 251,400 per annum + Westcliffe Court, 45/47 Lenton Road generates a contracted gross income of 160,800 per annum + Ancillary service income of 24,000 per annum + Premium rents achieved due to location, specification and ancillary services offered + 100% occupancy history since the developments were completed + High capital value resale locations OPPOSITE 1 Castle View, Castle Blvd 2 Westcliffe Crt, 45/47 Lenton Rd

4 NOTTINGHAM THE CITY OF NOTTINGHAM LIES AT THE HEART OF THE UK AND IS REGARDED AS THE COMMERCIAL AND ADMINISTRATIVE HUB OF THE EAST MIDLANDS REGION. With a growing economy worth an estimated 12.1 billion, Nottingham is served by a substantial diversified workforce, with over 15 million people living within a 50 mile radius of the centre. The City attracts a number of international corporations with over 50 Regional and National headquarters based in the City. Nottingham is the home to Walgreens Boots Alliance, Experian, E.ON UK, Gala Group, Siemens, Speedo, Vision Express, Games Workshop, Capital One and Paul Smith. Nottingham is the UK s 4th largest university city. There are 60,115 students of which 51,745 (86%) are full-time in Nottingham. Of this, circa 19% are international students. There are some strong language schools residing in Nottingham which also contribute to the growing population. Exceptional investment in infrastructure, with 1 billion currently being spent in the city and county on making the transport and business infrastructure world-class. THE PARK ESTATE THE PARK WAS FORMED FROM THE FORMER DEER GROUNDS OF NOTTINGHAM CASTLE, WITH MANY OF THE PROPERTIES WITHIN THE PARK DESIGNED BY NOTED ARCHITECTS SUCH AS P F ROBINSON, WATSON FOTHERGILL AND T C HINE. Since 1986, The Park has been a designated Conservation Area of outstanding national architectural importance. It has become Nottingham s premier and prestige address nestled next to the castle and the city centre. Both properties are convenient for the city centre which is within walking distance offering a wide variety of services, amenities, restaurants, bars and retail.

5 A6514 Radford A610 A609 Nottingham Trent University Sneinton University of Nottingham A6130 The Park Castle LENTON RD Market Square A60 A6514 A6200 CASTLE BOULEVARD Nottingham Station A52 Dunkirk Marina University of Nottingham A453 Meadows For the commuter there is excellent road, rail and air connectivity. 1 ROAD / AIR Point of interest Between the two properties Nottingham Market Square Nottingham Train Station Nottingham Trent University QMC Hospital University of Nottingham M1 Junction 25 East Midlands Airport (Blended average) Distance 0.5 miles 0.6 miles 0.8 miles 0.9 miles 1.1 miles 1.3 miles 7.2 miles 13.6 miles 2 RAIL Rail station (Source: eastmidlandstrains.co.uk) Time East Midlands Parkway Derby Leicester Sheffield Birmingham St Pancras International 10 mins 24 mins 28 mins 53 mins 1 hr 16 mins 1 hr 46 mins ABOVE 1 Castle View, Castle Blvd 2 Westcliffe Crt, 45/47 Lenton Rd

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7 OPPOSITE & ABOVE 1, 2, 6, 7, 10 Castle View 3, 4, 5, 8, 9 Westcliffe Court

8 THE PROPERTIES 22a 22b 8 24 Ferndene a FS Mortimer s Hole 1a 1 1b 1c 2 1 0c 2 2a 1a a 10b HOPE DRIVE 13 Impact House to 23 The Gallery CASTLE BOULEVARD 77 WHARF RD 61 Castle Court HASLAM ST 99 CASTLE BOULEVARD Dukes Wharf 1 to 8 PALATINE ST to to to to 42 Woodsend Wharf 27 0m 25m 50m CASTLE VIEW 10 75m Park Wharf 18, 20, 22, 24, 26, 28 and 30 Castle Boulevard, Nottingham NG7 1FL THE PROPERTY COMPRISES SEVEN TOWNHOUSES WITHIN AN UNBROKEN TERRACE CONTAINING TEN RESIDENTIAL UNITS AND FOUR COMMERCIAL UNITS. IT WAS DEVELOPED BY THE VENDOR BETWEEN The commercial units include an office/shop and garage/laundry store at 18 Castle Boulevard, a hairdressers at 20 Castle Boulevard and a beauty salon at 22a Castle Boulevard. The residential elements comprise three flats within 18 Castle Boulevard, a flat at 20 Castle Boulevard, a flat at 22 Castle Boulevard, two flats within 24 Castle Boulevard and three self contained town houses at 26, 28 and 30 Castle Boulevard. The development has been very well considered, being well laid out with a good use of space and the specification is to an extremely high level. All of the town houses and all of the flats have outside space. Car parking is within a gated central courtyard within the garage and each unit benefits from an on road parking permit.

9 b 1a LENTON COURT 1 ROCK to 8 45 to a PARK ROAD 72 72a 72b WESTCLIFFE COURT 45/47 Lenton Road, The Park, Nottingham NG7 1DW THE PROPERTY COMPRISES AN UNBROKEN, DETACHED FOUR STOREY FORMER DWELLING HOUSE, WHICH THE VENDOR CONVERTED IN 2006 INTO EIGHT SELF CONTAINED FLATS. There are two flats on each floor, each having four bedrooms and two bathrooms and a living/ dining/kitchen. The two lower floor flats also benefit from a rear terraced area. The location is excellent being within The Park Estate and especially good for students being the last property within The Park before the pedestrianised access into Lenton and beyond to the University of Nottingham. The Property is occupied by students and each has established use as a House in Multiple Occupation (HMO) and a HMO License. Each of the flats is fitted out to a very high standard for the student sector of the market and commands a commensurate rent with each being on a full 12 month tenancy.

10 THE PROPERTIES CASTLE VIEW, CASTLE BOULEVARD Address Details Beds Baths Sq m Sq ft Gross rent PA Gross rent PM 18* Office/shop ,000 1,083 18* Garage/laundry store ,728 6, B First floor flat ,900 1,575 18C Second floor flat ,900 1,575 18D Flat over garage ,080 21,000 1,750 20* Hairdressers ,000 1,083 20A Flat over hairdressers ,900 1,575 22A* Beauty salon ,000 1,083 22B Flat over beauty salon ,033 18,900 1,575 24A Ground floor flat ,900 1,575 24B First floor flat ,900 1, Town house ,847 24,000 2, Town house ,764 24,000 2, Town house ,978 24,000 2,000 Subtotal , , ,400 20,950 * Denotes commercial property element. Please note that the income against the commercial property is proposed to be leased back simultaneously with legal completion of the sale.

11 WESTCLIFFE COURT, 45/47 LENTON ROAD, THE PARK Address Details Beds Baths Sq m Sq ft Gross rent PA Gross rent PM Flat 1 Lower ground floor flat ,037 21,000 1,750 Flat 2 Lower ground floor flat ,080 21,000 1,750 Flat 3 Ground floor flat ,800 1,650 Flat 4 Ground floor flat ,800 1,650 Flat 5 First floor flat ,006 19,800 1,650 Flat 6 First floor flat ,800 1,650 Flat 7 Second floor flat ,005 19,800 1,650 Flat 8 Second floor flat ,012 19,800 1,650 Subtotal , ,800 13,400 TOTAL OF BOTH PROPERTIES Description Sq m Sq ft Gross rent PA Gross rent PM Grand total of both properties 2, , ,200 34,350 Notes: 1. All property measured on a Gross Internal Area basis 2. There is additional ancillary service income of 24,000 per annum generated from Castle View

12 ABOVE Castle View, Castle Blvd

13 OCCUPATIONAL USE & INCOME SPLIT THIS IS A RESIDENTIAL LED, MIXED USE INVESTMENT. OCCUPATIONAL USE (SQ FT) RESIDENTIAL 12,285 (50%) INCOME SPLIT ( ) RESIDENTIAL 206,400 (47%) STUDENT 7,929 (32%) STUDENT 160,800 (37%) COMMERCIAL 4,509 (18%) COMMERCIAL 45,000 (10%) TENANCIES & LEASES The residential units are all occupied on 12 month or longer ASTs. The student units are all occupied on 12 month ASTs. The commercial units, to include the office/shop, hairdressers and beauty salon are all occupied by the Vendor who intends to continue in occupation. A new lease for each unit will be granted from the date of completion for a term of 15 years, on effective full repairing and insuring terms, with five yearly tenant breaks, three yearly upwards only rent reviews, at a rental of 13,000 per annum for each the office/shop, hairdressers and beauty salon, and 6,000 per annum for the garage/laundry store. TITLE The freehold properties are registered under title numbers NT and NT SERVICES Each property is self contained with mains gas, electricity, water and drainage all connected. MANAGEMENT The Vendors occupy 18 Castle Boulevard as an office, along with their shop, where they manage the property from. The portfolio has been well managed, with premium rents achieved for a premium product, resulting in full occupancy. Additional services provided include utility service billing, maintenance, a laundry service and window cleaning. These are detailed in the Income Schedule as Ancillary service income and is charged in addition to the rent. This totals approximately 24,000 per annum which represents the additonal 6% of gross income. VAT We have been advised that no property is elected for VAT. EPC A full suite of EPC s is available in the data room.

14 THE UK PRIVATE RENTED SECTOR STRONG POPULATION GROWTH OVER THE NEXT 10 YEARS COUPLED WITH A TIGHTENING MORTGAGE MARKET FOR BOTH FIRST TIME BUYERS AND BUY TO LET LANDLORDS MEANS THAT THERE IS SIGNIFICANT OPPORTUNITY FOR SCALE INVESTORS TO MEET THE RISING DEMAND FOR RENTED PROPERTY. Savills expectation is that the Private Rented Sector (PRS) will continue to expand for the remainder of the decade, with 6.6 million households in the UK by 2019, which is around 250,000 new PRS households per annum. The Park & Castle portfolio offers an opportunity to continue to hold as an investment but with the potential to dispose of the individual properties making up the portfolio. PROPOSAL Savills is instructed, on a sole agency basis, to seek offers of 6,500,000 for the combined Park & Castle portfolio. This represents a 6.7% blended Gross Initial Yield on the total income (to include the contracted residential and student elements together with the leaseback income on the commercial elements and including the ancillary service income, excluding purchaser s costs). DATA ROOM Further information, detailed below, is available in the data room at: + Schedule of accommodation and tenancies + The last five years occupancy and income + Sample tenancy + Title plans + EPCs + Additional photography + Location plans + Floor plans for each property

15 CONTACT To discuss the Property and to arrange a viewing please contact the sole agents: MICHAEL DONAGHY t. +44 (0) e. mdonaghy@savills.com OLIVIA HASLAM t. +44 (0) e. ohaslam@savills.com IAN MUXLOW t. +44 (0) e. imuxlow@savills.com GEORGE HEPBURNE-SCOTT t. +44 (0) e. ghscott@savills.com IMPORTANT NOTICE Savills and their clients 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: June 2016

16 1 PAGE TITLE INTRO PARAGRAPH TITLE Body copy A RESIDENTIAL LED, MIXED USE INVESTMENT OPPORTUNITY, IN TWO PRIME LOCATIONS