Barclays Bank 63-67 Terminus Road Eastbourne BN21 3NE

Prime Freehold Retail Investment Opportunity

Investment Summary
Prosperous Sussex coastal town and popular holiday resort. Prominent position adjacent to the Arndale Shopping Centre. Freehold. Let to Barclays Bank PLC on FRI terms subject to a schedule of condition for 20 years from 21st July 2006 expiring 20th July 2026 with a tenants option to break on the 21st July 2021. 325,000 per annum, subject to upwards only rent reviews. 4.914M (Four Million Nine Hundred and Fourteen Thousand Pounds) subject to contract and exclusive of VAT. Reflecting a net initial yield of 6.25% after allowance for purchasers costs of 5.8%.

Barclays Bank 63-67 Terminus Road, Eastbourne BN21 3NE

Location Nottingham
M1conference and commercial centre for the south east. The town is located approximately 31 km

Description

M69

The property was built in the 1950s and is of steel frame construction with stone cladding and reinforced concrete floors comprising a ground floor banking hall with mezzanine and three upper floors of office and ancillary accommodation. Internally the accommodation benefits from gas (19 miles) east of Brighton and 90 km (54 miles) south of London. Great Yarmouth central heating and comfort cooling, and has recently benefitted from a full refurbishment of its Leicester Road communications are excellent with the A22 and the A27 providing access to London and the banking accommodation. Norwich south east via the M23 motorway. Eastbourne is a prosperous Sussex coastal town and popular holiday resort, as well as an important

am

Peterborough

Rail and air links from Eastbourne are excellent with regular train services to London Victoria with A1(M) an approximate journey time of 1 hour 30 minutes. Gatwick airport is located 55 km (34 miles) to entrythe north.

The Arndale Shopping Centre

The Arndale Shopping Centre owned by L&G, has planning permission to extend its western wing in a 70 million scheme which will provide a makeover to the centre as well as up to 26 new units. The scheme is scheduled to begin construction early 2014 with a scheduled completion in late 2015. More information can be found at http://www.eastbournearndaleshopping.co.uk/development.html and http://planningapps.eastbourne.gov.uk

Situation Northampton

Bury St Edmunds

The property occupies a prominent position on the northern side of the pedestrianised Terminus Road and sits adjacent to the entrances of the Arndale Shopping Centre which forms the principal ridge Camb retailing areaer in the town. Bicest Occupiers in the immediate vicinity include McDonalds, Boots, New Look, Costa Coffee, Natwest Bank, Lloyds TSB, Santander, Sainsburys, Primark, Waterstones and HSBC. M1
A1(M) M11

Colchester

A12

A34

M40

High Wycombe
LONDON
M4 M25

Map showing Arndale Centre extension

Reading

Margate
M2 M20

A34

Basingstoke M3 Guildford M23

M3 A272

Canterbury Dover

GATWICK AIRPORT

ton
M27

A22

Portsmouth

Brighton

Hastings

EASTBOURNE
Subject Property Proposed Development Boundary

Barclays Bank 63-67 Terminus Road, Eastbourne BN21 3NE

LOR TAY LEY ENG AG EST

RECT.COM

Eastbourne

110 - 112

WH NEWSA GENT & SMITH BOOKS

ENT

SUPERDRU G HEALTH & BEAUTY

EVERYT HING EVERYW HERE

DEJA VUE

ARNDALE

TERMINUS ROAD

3-5

NATIONWIDE BUILDING SOCIE TY

CAFE

OLTON RO A
20

D
2A
F B
THE EA

ANT VAC

MENKIND

NATWES T

LLOYDS TSB

VACANT (2 RETA IL FLOO RS)

GOLDSMIT HS JEWELLER

SERVICE AREA
ZIZZI ITALIA RESTAURA N NT

87 - 89

WATERSTO NE`S

SHADES

BOOKS SANTANDER BANK

PHONES 4U TELEPHONES

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ET`S JAN ERS W FLO LOR F

7
29

4-6 6

STAT I

ROA D

8
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PRIN BRA TERS SSER IE

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68

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10
70

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37

72

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11

Barclays Bank 63-67 S Terminus Road, Eastbourne BN21 3NE

76 SER VICE ARE A
41 45 4 7
VAC ANT
THE MON EY S HOP
CHE LT GLO ENHAM UCE & S TE R BAN K

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8
78
49
GAMESTA TION COMPUTE R GAMES
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CAT ALO GUE SHO WRO WIM OM PY FAST FOO D RE STA NOB URA LE NT AMU S SEM ENT S SPE CSA VER OPT S ICIA N

80

SOL E SO LUTIO N SHO ES

51 - 53

HOU

C&H FAB RICS SEH OLD TEX TILE S (2 R ETA IL FL OOR S)

MCDONAL D`S F/FD REST (2 RETAIL FLOORS)

82 90
VACANT

VAC ANT

92
55A 57
VACANT

ANN SUM MERS LINGERIE

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RECORDIN GS

LADIES WEAR

BONMA RCHE

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94

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72A 72B

72C

SPORTS DI

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59

VACANT

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C A FE

THOMSON

69
TRAV AG

SUPERC UTS HAIR

63 - 67

BARCLA YS
YARD

61
VACANT
BANK BANK

WC

76 67 - 68
O2
ENTRAN CE
YARD

77 66

78

65
GIGGLE

64
KRISP
IRS

79 - 13

63

TIMPSON SHOE RE PA

TELEPHO NE S

62
VACANT

14

HOLLAND & BARRET T HEALTH FOOD

61

60A

69

COFFEE REPUBL IC COFFEE SHOP

KOOLART TSHIRT&P RINTG

15

60

100 - 104
BANK

TREDS SHOES

71

BOOTS OPTICIAN GREGGS BAKER

59
16

&

(PEDESTR IANS ON 12.00PM LY EXCEP - 10.00AM T & 6.00PM LOADING - 12.00PM )

RD W FO R BRU ELLE JEW S LAT RTY N F OPE TOW N PR ENT

BOOTS

CHEMIST

VACANT

HO SHO

58
HONEY

BOOTS O PTICIANS

75 - 77

17

57

106 - 108 114

EVA LAD KRIS

18

79 81 - 83 85

CLINTON CARDS &

LADIE GIFTS NEW LOO K LADIES W EA

19

CURRYS .DIGITAL HOME EN T

SELECT LADIES W E

56

116 118
120 - 122 12 4 - 126

R MONSOON LADIES W EAR

55

SHADES SEATING AREA

ACCESSO RIZE L ACCESS

KIDS STU FF TOYS & G AMES

85A
91 93 95

ROBERT DYAS

54

COSTA COFFEE SH OP

VIYELLA LADIES WEA R THORNTON S CONFECTIO NERY

VARIETY

52 - 53
STORE
PERFUM E SHOP HLTH&BEA

RESTAURA NT

& BISCUITS
YARD

EVERYTHI N EVERYW HERE

LUSH HEALTH & BEAUTY

51
20
STARBUCK COFFEE SH

97

128

0
SL W

POUNDLAN D DISCOUNT STORE

TOPSHOP LADIES W EAR

6B

21 - 22

130

& TOPMAN MENS WEA R

101

LINENS DI R HOUSEHOL D TEXTILES

10

103

THOMAS CO OK TRAVEL AG ENT JONES BO OTMAKER SHOES

HALIFAX

6A

23

WALLIS LA DIES WEA R & BURTON M ENS WEAR & DOROTH Y PERKINS LADIES W EAR (2 RETAIL FLOORS)
BANK
UR GR CO SHO

CLAIRE`S LADIES ACCESSOR IES

50

VISION EX PRESS OPTICIAN

24

CENTRE

THE WORK

B B

Accommodation
The property provides approximately 1,911.75 sq m (20,579 sq ft) of net internal accommodation as set out in the accommodation and tenancy schedule.

Tenancy
The property is let to Barclays Bank PLC on FRI terms (subject to a schedule of condition) for 20 years from 21st July 2006 expiring 20th July 2026. The current rent is 325,000 per annum and is subject to an upwards only rent review on the 24th March 2015 and 5 yearly thereafter. The lease was subject to tenants break in 2016 and 2021. Following negotiations the 2016 break has now been removed, leaving a break clause only on the 21st July 2021.

Tenure
Freehold.

EPC Accommodation & Tenancy Schedule

Tenant Barclays Bank PLC Description Basement Storage Ground Floor Banking Hall ITZA Mezzanine Offices First Floor Offices Second Floor Offices Third Floor Offices Fourth Floor Storage Area (Sq m) 411.97 496.28 227.23 89.02 299.47 293.97 303.80 17.29 1,911.75 Area (Sq ft) The property has a current rating of F and copies are available upon request. Lease Terms Rent Review 24/03/2015 & 5 yearly thereafter Rent pa Comments

Total

4,435 20 years 5,342 From: 21/07/2006 2,446 To: 20/07/2026 958 3,224 3,164 3,270 186 20,579

325,000 Tenants option to break on the 21/07/2021 given 6 months prior notice.

325,000

Barclays Bank 63-67 Terminus Road, Eastbourne BN21 3NE

Further Information
For further information contact sole agents: Matthew Clarke: matthewclarke@lewisandpartners.com Ben Lewis: benlewis@lewisandpartners.com Joseph Rantor: josephrantor@lewisandpartners.com

Covenant Information
Barclays is a British multinational banking and financial services company. Barclays has a primary listing on the London stock exchange and is a constituent of the FTSE 100 index. For the year ending 31 December 2012 the company reported a net operating income of 25.44bn and adjusted pre-tax profits of 7.64bn.

VAT
Value added tax will not be applicable for the sale.

15/19 Cavendish Place London W1G 0QE Tel: 020 7580 4333 Fax: 020 7580 5111 SUBJECT TO CONTRACT & EXCLUSIVE OF VAT
LEWIS & PARTNERS LLP FOR THEMSELVES AND FOR THE VENDORS OF THIS PROPERTY WHOSE AGENT THEY ARE GIVE NOTICE THAT:1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. These particulars do not constitute any part of the offer for sale or contract for sale. All statements contained in these particulars as to this property are made without responsibility on the part of Lewis & Partners LLP or the vendors or lessors. None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. Any plans or photographs or drawings shown in these particulars are to enable prospective purchasers or tenants to locate the property. The plans are photographically reproduced and therefore not to scale except where expressly stated. The plans, photographs or drawings are for identification purposes only. No warranty or undertaking is given in respect of the repair or condition of the properties or any items expressed to be included in the sale. Any properties or drawings of the relevant property or part thereof or the neighbouring areas may not depict the property or the neighbouring areas at the date a prospective purchaser or tenant inspects the property. Prospective purchasers are strongly advised to inspect the property and neighbouring areas. Lewis & Partners LLP have not measured the property and have relied upon clients information. Therefore Lewis & Partners LLP give no warranty as to their correctness or otherwise and the purchasers must rely on their own measurements. All terms quoted are exclusive of value added tax unless otherwise stated. The vendors do not make nor do Lewis & Partners LLP any person(s) in their employment give any warranty whatsoever in relation to this property. These details are believed to be correct at the time of compilation but may be subject to subsequent amendment. These details were prepared as of FEBRUARY 2013

Proposal
We are seeking offers of 4.914M (Four Million Nine Hundred and Fourteen Thousand Pounds) subject to contract and exclusive of VAT for our clients freehold interest in the property. A purchase at this level will show a net initial yield of 6.25% after allowance for purchasers costs of 5.8%.

Adrian Gates Photography & Design 07710 316 991

Barclays Bank 63-67 Terminus Road, Eastbourne BN21 3NE