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THE CURVE Langley, Berkshire SL3 8US
REDWING COURT Romford, Essex RM3 8QQ
HEATHWAY MALL Dagenham, Essex RM10 8RE
SALAMANDER QUAY Harefield, Middlesex UB9 1ZZ
THE SQUARE Heathrow, Middlesex UB2 5NH
QUEENSGATE Waltham Cross, Leytonstone EN8 7NX
THE BAYTREE CENTRE Brentwood, Essex CM14 4BX
BAKERS COURT Basildon, Essex SS14 3EH
GROVELANDS Hemel Hempstead, Hertfordshire HP2 7TE
INSPIRA HOUSE Welwyn Garden City, Hertfordshire AL7 1GW
GEORGE YARD SHOPPING CENTRE Braintree, Essex CM7 1RB
LARKFIELD MILL Aylesford, Kent ME20 6SQ
PORTFOLIO OVERVIEW
Asset Locations 4
Investment Summary 6
INDUSTRIAL
Larkfield Mill 10
Bakers Court 12
OFFICES
Salamander Quay 16
The Square 18
Grovelands 20
Redwing Court 22
Inspira House 24
The Curve 26
Queensgate 28
SHOPPING CENTRES
George Yard Shopping Centre 32
Heathway Mall 36
The Baytree Centre 40
PORTFOLIO OVERVIEW
5 4 ~ THE PRINCIPAL TRUST PORTFOLIO OVERVIEW
LARKFIELD MILLAylesford
GEORGE YARDBraintree
REDWING COURT Romford
HEATHWAY MALLDagenham
Gatwick
City Airport
C E N T RA L LO N D O N
StanstedLuton
Heathrow
BAKERS COURTBasildon
THE SQUAREHeathrow
SALAMANDER QUAYHarefield
GROVELANDSHemel Hempstead
INSPIRA HOUSEWelwyn Garden City
BAYTREE Brentwood
QUEENSGATEWaltham Cross
M25
M25
M1 A
1M
M11
A12
A13
M40
M4
M3
A3
M2M20
M23
A406
A205
THE CURVELangley
Shopping Centres
Industrial
Offices
PORTFOLIO OVERVIEW7 6 ~ THE PRINCIPAL TRUST
4%
1%
21%
74%
Less Than 5 Years
5-10 Years
10-15 Years
Over 15 Years
UNEXPIRED TERM TO BREAK BY INCOME
Shopping Centre Distribution Warehouse
11.00
IPD
Equ
ival
ent Y
ield
s (%
)
10.00
9.00
8.00
7.00
6.00
5.00
4.00
2014
£200,000
£400,000
£600,000
£800,000
£1,000,000
£1,200,000
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2029
2030
2031
2033
2032
2028
LEASE EXPIRY PROFILE
IPD EQUIVALENT YIELDS
19%9.36%
37%
44%
90.64%
Shopping Centres Freehold
Offices Long Leasehold
Industrial Part Long Leasehold
INCOME BY SECTOR INCOME BY TENURE
INVESTMENT SUMMARY
- A unique opportunity to purchase a balanced
portfolio located entirely in London and the
Southeast of England.
- 12 assets including 3 shopping centres, two
multi let industrial estates and seven offices.
- All assets are less than 20 miles from the
M25, London’s Orbital Motorway.
- Weighted unexpired lease term of 5.50 years
to expiry and 3.76 years to break.
- Rich opportunities to add value including
consented developments and re-gears/
re-lettings.
- 90% freehold
- Low capital expenditure requirement with all
accommodation ready to let.
- Total passing rent of £10,078,574.
- Each property is held in an individual Channel
Islands SPV.
- Seeking offers in excess of £130,000,000 for
the SPVs.
- A purchase of the SPVs at this level would
reflect a Triple Net Initial Yield of 7.23%,
a Reversionary Yield of 8.22% (assuming
1.80% costs).
- Subject to contract and exclusive of VAT.
Less Than 5 Years
5-10 Years
10-15 Years
Over 15 Years
UNEXPIRED TERM TO EXPIRY BY INCOME
Office
Mar
'06
Jun
'06
Sep
'06
Dec
'06
Mar
'07
Jun
'07
Sep
'07
Dec
'07
Mar
'08
Jun
'08
Sep
'08
Dec
'08
Mar
'09
Jun
'09
Sep
'09
Dec
'09
Mar
'10
Jun
'10
Sep
'10
Dec
'10
Mar
'11
Jun
'11
Sep
'11
Dec
'11
Mar
'12
Jun
'12
Sep
'12
Dec
'12
Mar
'13
Jun
'13
Sep
'13
Dec
'13
Mar
'14
Jun
'14
Sep
'14
TNIY
3%
9%
48%
40%
INDUSTRIAL
11 10 ~ THE PRINCIPAL TRUST INDUSTRIAL
LARKFIELD MILLAYLESFORD, KENT ME20 6SQ
INVESTMENT SUMMARY
- Prominent multi-let estate.
- Recently refurbished in part.
- Established south east industrial location,
36 miles from Central London.
- Low passing rent of £4.85 ft2.
- 1.5 miles from the M20 (Junction 4).
- High Speed train links from Aylesford to
London St. Pancras in 54 minutes.
- Area 17.74 acres (site cover of 40%).
ASSET MANAGEMENT OPPORTUNITIES
- Let remaining vacant unit.
- Longer term site assembly.
TENURE
- Freehold.
TENANCY
- Multi-let to seven tenants.
- One vacant unit.
CURRENT RENT
- £1,546,526 per annum.
TOTAL AREA
- 318,194 ft2.
CURRENT RENT
- £4.85 ft2 on an overall basis.
WAULT
- Break: 3,52 years / Expiry: 4.87 years.
VACANCY BY TOTAL FLOOR AREA
- 10%.
LOCATION
AYLESFORD
NEW HYTHE
LARKFIELD MILL
M20
A20
NEW
HYT
HE L
ANE
LEYBOURNE WAY PER
IMET
ER R
OA
D
SCHEME OVERVIEW
BELLING
HA
M W
AY
13 12 ~ THE PRINCIPAL TRUST INDUSTRIAL
PITSEA
SOUTHERNHAY A13
A127 A127
BROADMAYNE
CRANES FARM ROAD
A130
BAKERS COURTBASILDON, ESSEX SS14 3EH
INVESTMENT SUMMARY
- Prominent multi-let industrial / trade
counter estate.
- Recently refurbished.
- 33 miles east of Central London.
- Strategic location for the proposed London
Gateway Port and 0.3 miles from A127 (arterial
road linking to M25).
- Low passing rents and established reversions.
- Site Cover of 50%.
ASSET MANAGEMENT OPPORTUNITIES
- Develop rear yard per planning consent.
(13/00356/FULL).
- Lease up vacant accommodation.
- Remove breaks.
- Seek lease renewal from Creative Design.
- Continue re-positioning of trade counter
following recent lettings.
TENURE
- Freehold.
TENANCY
- Multi-let to 16 tenants.
- Fully let.
- Two units are sold off on long leases.
CURRENT RENT
- £358,411 per annum.
TOTAL AREA
- 68,260 ft2.
CURRENT RENT
- £5.25 ft2 on an overall basis.
WAULT
- Break: 4.61 years / Expiry: 8.19 years.
VACANCY BY TOTAL FLOOR AREA
- 0%.
BAKERS COURT
PAYCOCKE ROAD
1 3 25 2324
22 21
20
1819
1516
17A
17B
12 13 145
LOCATION SCHEME OVERVIEW
SOLD L/LH
YARDS 1–5
OFFICES
17 16 ~ THE PRINCIPAL TRUST OFFICES
SALAMANDER QUAYHAREFIELD, MIDDLESEX UB9 1ZZ
INVESTMENT SUMMARY
- Well let modern office complex with long term
residential potential.
- Located southeast, 5 miles from the M25
(Junction 17).
- Flexible floorplates.
- Low passing rents.
ASSET MANAGEMENT OPPORTUNITIES
- Latest letting at £18.95 ft2 establishes the
estate to be significantly reversionary.
- Explore residential opportunities.
TENURE
- Freehold.
TENANCY
- The property is let to 16 tenants on 19 leases.
CURRENT RENT
- £513,933 per annum.
TOTAL AREA
- 33,372 ft2.
CURRENT RENT
- £15.81 ft2 on an overall basis.
WAULT
- Break: 3.68 years / Expiry: 5.79 years.
VACANCY BY TOTAL FLOOR AREA
- 3%.
CAR PARKING RATIO
- 1:242 ft2.
SCHEME OVERVIEW
PARK LANE
BA
NK
SID
E
TOW
ING
PAT
H
LOCATION
DENHAM
A412
A4180
A404
M2
5
A413
SALAMANDER QUAY NORTHWOOD
RICKMANSWORTHJ17
QUAY WEST
19 18 ~ THE PRINCIPAL TRUST OFFICES
THE SQUAREHEATHROW, MIDDLESEX UB2 5NH
INVESTMENT SUMMARY
- Modern offices 12 miles west of Central London.
- Excellent road communications – M4 (1.3
miles), M25 (4.5 miles), M3 (10 miles), M1
(14 miles).
- 4 miles from Heathrow Airport.
- Rail links from Hayes & Harlington to
London Paddington (16 minutes) and
Heathrow Connect (6 minutes).
- Reversionary income.
ASSET MANAGEMENT OPPORTUNITIES
- Remove breaks.
- Let vacant units at new tone of £15.00 per ft2.
- Review passing rent to new rental tone.
TENURE
- Freehold.
TENANCY
- Multi-let on FRI leases to 6 tenants.
- Two of the units are currently vacant.
CURRENT RENT
- £870,560 per annum.
TOTAL AREA
- 69,522 ft2.
CURRENT RENT
- £12.03 ft2 on an overall basis.
WAULT
- Break: 3.61 years / Expiry: 5.58 years.
VACANCY BY TOTAL FLOOR AREA
- 17%.
CAR PARKING RATIO
- 1:1030 ft2.
LOCATION
M4
A437
A31
2
A3005
TH
E P
AR
KW
AY
HAYES RO ADTHE SQUARE
SOUTHALL HAYES ROAD
SO
UT
HA
LL
LA
NE
SCHEME OVERVIEW
2
3
45
6
7
1
21 20 ~ THE PRINCIPAL TRUST OFFICES
GROVELANDSHEMEL HEMPSTEAD, HERTFORDSHIRE HP2 7TE
INVESTMENT SUMMARY
- Low density campus style office development.
- Excellent road communications – M1 (1.5
miles). M25 (5.2 miles).
- Located 24 miles from Heathrow Airport.
- Rail links from Hemel Hempstead to London
Euston (26 minutes).
- Low passing rents.
ASSET MANAGEMENT OPPORTUNITIES
- Continue to increase rents following recent
letting demonstrating reversion to £10.66 ft2.
- Remove breaks in Towergate and Glanville
and Schoff.
TENURE
- Freehold.
TENANCY
- Multi-let on 11 FRI leases to 10 tenants.
CURRENT RENT
- £381,567 per annum.
TOTAL AREA
- 33,887 ft2.
CURRENT RENT
- £11.13 ft2 on an overall basis.
WAULT
- Break: 2.16 years / Expiry: 4.27 years.
VACANCY BY TOTAL FLOOR AREA
- 14%.
CAR PARKING RATIO
- 1:210 ft2.
LOCATION SCHEME OVERVIEW
APSLEY
M1
M1
A414
A4147
A5183
A414
LINK ROAD
A4146
GROVELANDS
1 2
45
6
7
L/LH
3
BO
UN
DA
RY
WA
Y
J8
J7
23 22 ~ THE PRINCIPAL TRUST OFFICES
REDWING COURTROMFORD, ESSEX RM3 8QQ
INVESTMENT SUMMARY
- A purpose-built business centre in an
established commercial location.
- 14 miles east of Central London.
- Adjacent to the A12 to London (0.6 miles),
M25 (2.2 miles)
- 1.1 miles from Harold Wood train station
providing direct access to London.
ASSET MANAGEMENT OPPORTUNITIES
- Remove break in Fallons lease.
- Seek early regear with ADT.
- Explore long leasehold sales.
TENURE
- Freehold.
TENANCY
- Multi-let on FRI leases to two tenants ADT Fire
and Security Plc (“Very Low Risk”) and Fallow
International Freight Ltd (“Very Low Risk”).
- The remaining 4 units have been sold
off on long leases.
CURRENT RENT
- £144,238 per annum.
TOTAL AREA
- 12,192 ft2.
CURRENT RENT
- £11.83 ft2 on an overall basis.
WAULT
- Break: 2.2 years / Expiry: 5.35 years.
VACANCY BY TOTAL FLOOR AREA
- 0%.
CAR PARKING RATIO
- 1:142 ft2.
LOCATION
HAROLD WOOD
GIDEA PARK
A12
M2
5
A127
REDWING COURT ASHTO
N RO
AD
SCHEME OVERVIEW
5
L/
LH
L/
LH
L/
LH
L/
LH
6
J28
J29
25 24 ~ THE PRINCIPAL TRUST OFFICES
INSPIRA HOUSEWELWYN GARDEN CITY, HERTFORDSHIRE AL7 1GW
INVESTMENT SUMMARY
- Secure, gated, purpose-built office investment.
- Strong tenant profile (D&B 4A1).
- 25 miles north of Central London.
- Ideally located for national motorway
network – M1 (3.3 miles), M25 (9.6 miles) and
M11 (18.1 miles).
- Welwyn Garden City train station is 0.9 miles
away providing direct access to London Kings
Cross in 26 minutes.
ASSET MANAGEMENT OPPORTUNITIES
- Serve Interim Schedule of Dilapidations.
- Re-gear with tenant.
- Tenant’s contract extends beyond lease expiry
and has significant specialist fixtures and
fittings in situ.
TENURE
- Freehold.
TENANCY
- Single-let on an FRI lease to GE Transportation
Systems Ltd (Minimum risk).
CURRENT RENT
- £325,762 per annum.
TOTAL AREA
- 24,171 ft2.
CURRENT RENT
- £13.48 ft2 on an overall basis.
WAULT
- Expiry: 1.23 years.
VACANCY BY TOTAL FLOOR AREA
- 0%.
CAR PARKING RATIO
- 1:1726 ft2.
LOCATION SCHEME OVERVIEW
WELWYN GARDEN CITY
A10
00
B653
A414
A1
A1
INSPIRA HOUSE
SWALLOW
FIELDS
SWALLO
WFIE
LDS
MARTINFIELD
27 26 ~ THE PRINCIPAL TRUST OFFICES
THE CURVELANGLEY, BERKSHIRE SL3 8US
INVESTMENT SUMMARY
- Attractive, modern, fully let office on an
established business park.
- Popular Greater London office location.
- Excellent communications – M4 (1.3 miles),
M25 (3.1 miles), M40 (8.3 miles), M3 (9.9 miles),
M1 (22.7 miles).
- 5 miles from Heathrow Airport.
ASSET MANAGEMENT OPPORTUNITIES
- Remove break from Balfour Beatty lease.
- Regear with existing tenants.
- Benefit from longer term regeneration
of Slough.
TENURE
- Freehold.
TENANCY
- Multi-let on FRI leases to 4 tenants, including
Altus UK LLP and Balfour Beatty Group.
CURRENT RENT
- £666,678 per annum.
TOTAL AREA
- 41,228 ft2.
CURRENT RENT
- £14.99 ft2 on an overall basis.
WAULT
- Break: 3.27 years / Expiry: 5.5 years.
VACANCY BY TOTAL FLOOR AREA
- 26%.
CAR PARKING RATIO
- 1:565 ft2.
LOCATION
LANGLEY
THE CURVEM4
M25
A4
B740
LONDON ROAD
PARLAUNT ROAD
LANGLEY R OAD
HURRICANE WAY
M4
SCHEME OVERVIEW
J15
29 28 ~ THE PRINCIPAL TRUST OFFICES
QUEENSGATEWALTHAM CROSS, LEYTONSTONE EN8 7NX
INVESTMENT SUMMARY
- Modern in-town office park of three buildings
on a gated site.
- 16 miles north of Central London.
- Adjacent to Waltham Cross train station
(London Liverpool Street: 27 mins).
- Excellent access to the national motorway
network including - M25 (1.5 miles), M1 (18
miles), M11 (7 miles).
- Flexible accommodation currently arranged as
one single let and two multi-let buildings.
ASSET MANAGEMENT OPPORTUNITIES
- Rebase rents to ERV.
- Open to National Rail platform providing direct
access to Waltham Cross Station.
TENURE
- Freehold.
TENANCY
- Multi-let to 7 tenants including Telford Homes,
Meta Management Services, ISS Medical
Insurance and Hitachi.
CURRENT RENT
- £881,977 per annum.
TOTAL AREA
- 58,957 ft2.
CURRENT RENT
- £14.96 ft2 on an overall basis.
WAULT
- Break: 4.98 years / Expiry: 7.33 years.
VACANCY BY TOTAL FLOOR AREA
- 0%.
CAR PARKING RATIO
- 1:283 ft2.
LOCATION
WALTHAM CROSS QUEENSGATE
A121
A121
B138 PARKLANDSA121
A10
10
A10
55
A10
A10 B
176
B194A
112
M25
ELEANOR CROSS ROAD
BR
ITAN
NIA
RO
AD
SCHEME OVERVIEW
TELFORD HOUSE
HANOVER HOUSE
WINDSOR HOUSE
SHOPPING CENTRES
33 32 ~ THE PRINCIPAL TRUST SHOPPING CENTRES
GEORGE YARD SHOPPING CENTREBRAINTREE, ESSEX CM7 1RB
INVESTMENT SUMMARY
- George Yard is the dominant retail offer
in Braintree town centre.
- Affluent catchment population.
- 33 retail units and 3 office suites.
- Anchored by a 24,570 ft2 Co-Operative
Department Store and a Morrisons
supermarket (outside the ownership).
- Further retailers include WHSmith, Evans,
Superdrug, Boots, Poundland, Claires and
Dorothy Perkins.
- Strong tenant demand with live requirements
from national multiple retailers.
- 93% let to national multiple covenants.
ASSET MANAGEMENT OPPORTUNITIES
- Complete lease re-gear with WHSmith
(Unit 30-31).
- Complete lease re-gear with Dorothy Perkins
(Unit 4).
- Secure Starbucks letting (Unit 25/26).
- Explore the opportunity to acquire Morrisons
Supermarket to extend the ownership.
TENURE
- Freehold.
- Part-long leasehold (past service yard only).
TENANCY
- The property is let on a total of 30 tenancies.
- National multiple retailers account for 88% of
the total rent.
INCOME ANALYSIS
- Gross £1,293,842 per annum.
- After deduction of landlord shortfalls, the net
income is £1,206,802 per annum.
- Estimated gross rental value of £1,469,654
per annum.
- A maximum Zone A rental tone of £60 ft2.
WAULT
- Break: 3.6 years / Expiry: 4.3 years.
LAKES ROADCLAIRE ROAD
RAYNE ROAD
COGGESHALL ROAD
LON
DO
N R
OA
D
SOUTH STREET
THE C
AUSEW
AYPANFIELD LN
A120
BRAINTREE
GEORGE YARD SHOPPING CENTRE
LOCATION
SHOPPING CENTRES35 34 ~ THE PRINCIPAL TRUST
CO-OPERATIVE DEPARTMENT STORE
2 retail floors
RAYNE ROAD
BAN
KS ST
REET
GREAT SQUARE
HIGH STREET
DR
URY LA
NE
SWAN
SID
E
YOU
RS
C
loth
ing
GA
ME
Vid
eo G
ames
DO
RO
TH
Y P
ERK
INS
C
loth
ing
TH
E W
OR
KS
B
oo
ks
PEA
CO
CK
S
Clo
thin
g
BO
OT
S
Che
mis
t
PAPA JOHN'S Restaurant
CA
RD
FA
CTO
RY
Car
ds &
gift
s
CLI
NTO
N C
AR
DS
C
ards
& g
ifts
WH
SM
ITH
N
ewsa
gent
& B
oo
ks
SU
PER
DR
UG
H
ealth
& B
eaut
y
PO
UN
DW
OR
LD
Dis
coun
t Sto
re
GR
EGG
S
Bak
er
SYO
KI
Jew
elle
ry
F. HINDS Jewellery
FEV
ER
Acc
esso
ries
U/O
CO
-OP
OPT
ICIA
NS
O
ptic
ians
HEL
EN'S
BEA
UT
IQU
E B
eaut
y Sa
lon
VA
CA
NT
MH
SIM
MS
C
onfe
ctio
nary
EATO
NS
C
afe
B R
AIN
TR
EE M
OB
ILES
M
obile
Pho
ne R
epai
rs
PH
OTO
EX
PR
ESS
Ph
otog
raph
y
VA
CA
NT
CLA
IRE'
S A
CC
ESSO
RIE
S
Acc
esso
ries
TH
E C
AR
PH
ON
E W
AR
EHO
USE
T
elep
hone
s
TH
OM
SON
Tr
avel
Age
nt
FEATHERS Hairdresser
VO
DA
FON
E T
elep
hone
s
CLA
RKS
Sh
oes
BU
RTO
N
Clo
thin
g
2B
1, 2, 2A
3 4 5
76
8A
36
8B 9 10 11
12
1314
15
16 1718-192021
22
24
23
25-26
2728
35
29
30-3132-33
34
TON
I & G
UY
Hai
rdre
sser
712 Spaces
P
CURRENT OCCUPANCY
37 36 ~ THE PRINCIPAL TRUST SHOPPING CENTRES
HEATHWAY MALLDAGENHAM, ESSEX RM10 8RE
INVESTMENT SUMMARY
- Dominates the retail provision in Dagenham.
- Loyal and local catchment population with
considerable residential populations in close
proximity to the centre.
- Strong value and convenience provision.
- Anchored by a Wilkinsons with national
multiple retailers including Boots, JD Sports,
Peacocks, Savers and Card Factory.
- Connected to the principle car park for
Dagenham town centre (not in the ownership).
- 80% let to national multiple retailers.
ASSET MANAGEMENT OPPORTUNITIES
- Acquire 234 Heathway and 228 Heathway
to enable a potential upsize of the Tesco
Express store.
- Complete relocation of Post Office unit
from 214 - 216 Heathway to unit 28.
- Complete new letting to Costa Coffee at
214 - 216 Heathway.
- Let 4 vacant flats. ERV £800 - £950 pcm.
Combined value of £700,000.
TENURE
- The property is held on a long lease from the
London Borough of Barking and Dagenham for
a term of 125 years from June 1981.
- The rent is reviewed annually to 9.81% of rents
received in the previous year less permitted
expenses and subject to a minimum head rent
of £37,620 per annum.
TENANCY
- The property is let on a total of 35 tenancies.
- National multiple retailers account for 80% of
the total rent.
INCOME ANALYSIS
- Gross rental income of £968,242 per annum.
- After deduction of landlord shortfalls, the net
income £860,199 per annum.
- Estimated gross rental value of £1,068,592.
- A maximum Zone A rental tone of £50 ft2.
WAULT
- Break: 2.9 years / Expiry: 6.9 years.
A13
HEDGEMANS ROAD
HE
AT
HW
AY
BALLARDS ROAD
REEDE ROAD
PARSLOES AVENUE
RAIN
HAM R
OA
D
RAINHAM ROAD SOUTH
DAGENHAM EAST
HEATHWAY MALL
DAGENHAM HEATHWAY
BECONTREE
GA
LE
ST
RE
ET
LOCATION
SHOPPING CENTRES39 38 ~ THE PRINCIPAL TRUST
HE
AT
HW
AY
EN
TR
AN
CE
TO
CA
R PA
RK
JD
Sports G
oo
ds
TH
OM
PSON
Travel Agent
VA
CA
NT
CEX
Co
mputer G
ames
VO
DA
FON
E
Mo
bile Phones
CA
RD
FAC
TORY
Cards &
Gifts
SAV
ERS
Co
smetics
VA
CA
NT
PER
CY &
ING
LE
Bakery &
Cafe
BR
IGH
TH
OU
SE
Ho
me Entertainm
ent
CASH GENERATOR
PawnbrokerENT
WILKO
Household Goods
STYLE & ELEGANCE
Beauty Salon
SHOE ZONE
Shoe Store
STEVE'S
Baker
ENTRANCE
CHERRYTREE
Butcher
ST FRANCIS HOSPICE
Charity Shop
BO
OT
S
Chem
ist
99P STO
RES
Disco
unt Store
PEA
CO
CK
S
Clothing
BETFRED
Betting Office
SPECSAVERS
Optician
STORE 21
Clothing
CARL'S FASHION
Clothing
FRU
IT B
OW
LG
reen Gro
cers
POST OFFICE
MA
LL NEW
SN
ews A
gent
VACANTTIMPSON
Cobbler
BOW BELLSFlorist
LASHOUS BEAUTYBeauty Salon
PH
ON
E AC
CESS
OR
IES K
IOS
KM
obile Pho
nes
OFFICE
1112
1314
15
16B
16A
27/128
2930
3132
12-3
45 6 7 8-9
10
17-18
27/2
214-216
192021
2526
24
300 Spaces
P
DAGENHAM HEATHWAY
CURRENT OCCUPANCY
SHOPPING CENTRES41 40 ~ THE PRINCIPAL TRUST
INVESTMENT SUMMARY
- Anchored by a Co-op Supermarket and Wilko
with further retailers including Sportsworld,
Fitness First, Gap, WHSmith, Holland & Barratt
and 99p Stores.
- 132,547 ft2 of retail accommodation.
- Co-op supermarket anchor which acts as a
strong footfall driver.
- The only shopping centre in Brentwood.
- Adjacent to Brentwood’s principal 650 space
car park.
- Loyal catchment population with significant
residential populations in close proximity.
- Affluent catchment with significant over-
representation of AB social groups.
ASSET MANAGEMENT OPPORTUNITIES
- Continue to explore the opportunity to
re-develop part of the shopping centre to
create 211 residential units as recognised
in the local plan (Policy TC13 + CP6).
- Acquire Unit 38A (currently let to Thorntons)
on the High Street to extend the existing
shopping centre ownership.
- Secure lease renewals with Natwest, TUI and
Ronald Brown.
- To enter into discussions with Starbucks to
take a lease over the Mall Café.
- Let 4 vacant units.
TENURE
- The property is predominantly held freehold.
- There is a minor long leasehold interest for
a term of 125 years from June 1987 at a
peppercorn rent. (98 years unexpired.)
TENANCY
- The property is let on a total of 31 tenancies.
- National multiple retailers account for 97% of
the total rent.
INCOME ANALYSIS
- Gross rental income of £1,636,800 per annum.
- Net rental income £1,373,696 per annum.
- Estimated gross rental value of £1,736,915.
- Zone A rental tone of £70 ft2.
WAULT
- Break: 4.9 years / Expiry: 5.6 years.
NB Summary above reflects Baytree Centre only, details for 38-42 and 75 High Street are available on the marketing website.
LONDON ROAD
HUTTON ROAD
B1
86
A12
A12
ONGAR ROAD
INGRAVE ROAD
SHENFIELD R
OA
D
SHENFIELD
BRENTWOOD
THE BAYTREE CENTRE
LOCATION
THE BAYTREE CENTRE & HIGH STREET UNITSBRENTWOOD, ESSEX CM14 4BX
SHOPPING CENTRES43 42 ~ THE PRINCIPAL TRUST
HIGH STREET
CR
OW
N ST
RE
ET
SOUTH STREET
WH SMITH
Newsagent & Books
2 Retail floors and
Post Office
THE BODY SHOP
Health & Beauty
CEX
Computer Games
3 STORE
Mobile Phones
EE
Mobile Phones
FASHION AVENUE
Clothing
SCRIVENS LTD.
Optician
MA
PLIN
Electronics Store
NEW
LOO
K
Clothing
O2
Mobile Phones
BARC
LAYS
Bank
NATWEST
Bank
VACANT
VACANT
CARD FACTORY
Cards & Gifts
SHOE ZONE
Shoe Store
BABY GAP
Infant Clothing
GERMAN KITCHENS
Interiors
WORKS BOOKSTORE
Book Store
HOLLAND & BARRETT
Health Foods
BAYTREE CAFÉ
Café
VAC
AN
T
VACANT
VAC
AN
T
OFFICE
OFFICE
DWGS
ZAKZ
Clothing
WILKO
Household Goods
CO-OPERATIVE
Supermarket
U/O
HO
USE O
F FASH
ION
Clothing
HO
MEW
ARES
Household G
oods
SAVE T
HE C
HILD
REN
Charity Store
SPORTS DIRECT
Sport Goods
1-23
3A
4A5
6
78
99A
1011
426
2021
22
23
24
2526
27
3
38
40B
42
40A
75
2
20-21
12
13
CLAIRE'S ACCESSORIESWomen's Accessories
FITNESS FIRSTGym Entrance
FRAGRANCE SHOPHealth & Beauty
THOMSON Travel Agent
THE NATURAL HEALING CO.Health Foods
117 Spaces
P
CURRENT OCCUPANCY
343 Spaces
P
COUNTRY CASUALS Clothing
I. M. ROCKHALL & P. T. ROCKHALL Newsagent
Entrance to 40-42 High Street VACANT commercial plus
three flats (three occupied)
CHARTERED SURVEYORS
FURTHER INFORMATION
For further information including full property details, EPCs, building,
environmental & measured surveys please contact one of the parties below
for access to The Principal Trust marketing website:
Peter Kirk
T: +44 (0)20 7852 4853
James Waldock
T: +44 (0)20 7852 4830
Giles Roberts
T: +44 (0)20 3147 1584
Philip Marsden
T: +44 (0)20 7087 5390
George Sutcliffe
T: +44 (0)20 7399 5436
Jonnie Ray
T: +44 207 534 0994
Tim Cuzens
T: +44 207 534 0992
Archie Bellville
T: +44 207 534 0995
MISREPRESENTATION ACT, COPYRIGHT, DISCLAIMER
Jones Lang LaSalle and Cortex Partners, for themselves and for the vendors of this property, whose
agents they are, give notice that (1) the particulars and any further information communicated by
any means to potential purchasers of the property described in the particulars, or their advisers, in
connection with the possible sale of the property are provided solely for the purpose of assisting
potential purchasers in decided whether they wish to proceed with further investigation of the property
and do not constitute either the whole or any part of an invitation, offer or contract for sale of the
property; (ii) all descriptions, dimensions, references to condition and necessary permissions for use
and occupation and other details are given in good faith and are believed to be correct as at the date
of the particulars (or the date of the relevant information if earlier). However, potential purchasers are
not entitled to rely on them as statements or representations of fact but should satisfy themselves by
searches, enquiries, surveys and inspections or otherwise with regard to the accuracy of such details.
No responsibility or liability is or will be accepted by Jones Lang LaSalle, the vendor(s) of the property or
any of their respective subsidiaries, affiliates, directors, officers, representatives, employees, advisors,
or agents for any loss or damage suffered by any party, resulting from reliance on the particulars or any
other information communicated by any means to that party, or its advisers, in connection with the
possible sale of the property. No person in the employment of Jones Lang LaSalle or the vendor(s) has
authority to make or give any representation or warranty, express or implied, in relation to the property.
References to Jones Lang LaSalle include any joint agents acting with Jones Lang LaSalle. October 2014.
