Barker & Stonehouse Sale and Leaseback

On behalf of Barker & Stonehouse, ESH have sold a sale
and leaseback opportunity to a private investor. The retailer has signed a 10
year lease on its Outlet unit in Marsh Street, Middlesbrough.

Aberdeen Standard Investments
Sells Foodstore and district centre in Altrincham

Aberdeen Standards Investments has
sold the freehold interest of the Waitrose & Partners foodstore, Altrincham
to a Council purchaser for £11.65m, reflecting a NIY of 5.15%. The property on
Draybank Road in Broadheath extends over 39,000 sq. ft. GIA and also features
six self-contained shop units let to a variety of occupiers.

ESH acted for Aberdeen
Standard Investment and ADSRE acted for the purchaser.

Travis Perkins Properties Ltd dispose of Farnborough holding.

Travis Perkins Properties Limited have sold their long leasehold interest site occupied by Dunelm and Wickes on Invincible Road, Farnborough.

Since their acquisition of the site in early 2015, Travis Perkins Properties Limited have totally refurbished the scheme. Wickes have downsized from their previous occupation and the
surplus of approximately 19,000 sq ft has been let to Dunelm (Soft Furnishings) Limited on a 10 year lease, with circa 8.5 years remaining at the time of sale.
The other unit is let to Travis Perkins’ owned business, Wickes Building Supplies Limited, who have re-committed to the location on a new 20 year lease from the date of sale with a tenant break at year 10.

The asset was sold to clients of Hurst Warne for a price of £11.00 million, reflecting a net initial yield of 5.5%.

ESH advised Travis Perkins Properties Limited on the sale

Ashby DLZ (Aug 2017 &
Dec 2018)

ESH advise a private client on the Forward Funding of
M&S and B&M in Ashby-de-la-Zouch

A new 11,000 sq ft M&S Foodhall opened in October 2017
and was funded by a Private Client of ESH. The tenant took a new 20 year lease
with a break option in year 15 at a rent of £220,000 per annum.

Phase 2 of the site was granted full planning permission for
a 20,000 sq ft B&M store in October 2018. The same Private Client of ESH
has agreed to also fund this phase of the development which will see B&M on
a 15 year lease at £300,000 per annum.

LONDONMETRIC SELLS MARTLESHAM HEATH RETAIL PARK

FOR £22.0 MILLION

LondonMetric Property Plc (“LondonMetric”) announces that it has sold its retail park in

Martlesham Heath, Ipswich, for £22.0 million, reflecting a NIY of 5.2%.

The 48,000 sq ft retail park was acquired in 2013 for £10.4 million. LondonMetric has executed

a number of asset management initiatives during its ownership, which have helped attract

new retailers such as Hobbycraft, Mountain Warehouse, Card Factory, Shoe Zone and

Poundland, whilst existing tenant M&S, recently extended its foodhall to 20,000 sq ft on a new

15 year lease.

The park is fully let off average rents of £25.70 psf with a weighted average lease term of 12

years to expiry and 10 years to first break.

The property has generated a profit on cost of 40% and an ungeared return of 13% pa. The

sale is to a long-term investor and reflects a premium to March 2018 book value.

Andrew Jones, Chief Executive of LondonMetric, commented:

“Whilst demand for physical retail assets continues to polarise rapidly, investor appetite for long

and strong income remains healthy. The sale is in line with our strategy of divesting our last

remaining operational retail assets upon completion of their business plans. We retain three

retail parks within our direct portfolio reflecting 5% of our assets.

“Our investments will continue to target high quality opportunities within the logistics and

convenience sectors where income certainty is greater and income growth prospects are

superior.”

LondonMetric was advised by Edgerley Simpson Howe.

Wigley sells Royal Mail depot in Coventry

The Wigley Group, advised by ESH, has sold its freehold interest in the Royal Mail delivery office in Coventry to a Private Buyer for £3.5 million, reflecting a net initial yield of 5.23%.

The Property, which comprises a standalone unit of 17,500 sq ft GIA plus external car parking and delivery yard, was developed by The Wigley Group in 2009 and is let in its entirety to Royal Mail Group. The investment provides an annual rental income of £195,000 pa (£11.14 per sq ft) and an unexpired lease term of 11 years.