• Highly secure income – Prezzo Limited (Total Net Worth £121m)

• 27.5 years unexpired, no breaks

• RPI (1.5% - 3.5%) Rental Increases

• Prominent town centre location

• Attractive Grade II listed building

• Affluent Suffolk market town

• Offers in excess of £1,040,000, subject to contract

• 5.0% Net Initial Yield

The property is situated in a prominent position fronting Gainsborough Street, with return frontage to Burkitts Lane, within Sudbury’s main retailing and leisure provision which is centred on Market Hill and North Street, where the Town Hall and St. Peter’s Church are situated.

The street takes its name from Thomas Gainsborough, the pre-eminent portrait painter of his generation. Gainsborough’s House at No. 46 Gainsborough Street where he was born is a museum and art gallery dedicated to his legacy and affinity to Sudbury.

The property benefits from strong pedestrian footfall with nearby occupiers including Pizza Express, Costa Coffee, Fat Face, Boots, Winch & Blatch Department Store, Toni & Guy, HSBC and Barclays Bank.

The town centre contains many fine buildings, which have mostly been converted into cafés, restaurants and retail shops with both specialist local operators mingling with national brand names.

In addition, the property is in close proximity to a popular bi-weekly market every Thursday and Saturday located in front of St. Peter’s Church which also hosts concerts and exhibitions throughout the year.

The property, which is Grade II listed, was the house of Edward Burkitt who were an eminent family of Sudbury for some 200 years. Originally constructed in the 18th Century as two properties over basement, ground and first floors the addition of the second floor was built in the 19th Century.

The front section of the property is constructed of red brick elevations under a pitched and slate roof with timber framed sash windows and retains various original features. The rear section is arranged on ground and first floor only and built of rendered and painted brick elevations underneath a pitched tiled roof. No. 55 Gainsborough Street benefits from a glazed shop front to Gainsborough Street and the return frontage to Burkitts Lane.

The main entrance to the property is from No. 54 Gainsborough Street. Internally, there are various character features including a wide original staircase which links the ground and first floor dining / customer areas. The ground floor is arranged as a reception area, main dining area, kitchen and disabled toilet accommodation. The first floor comprises dining accommodation at the front of the building, customer toilets in the middle section with ancillary and staff toilets facilities to the rear. The second floor, which is located over the front section of the building only comprises a bedroom, lounge, kitchen and bathroom. In addition, there is a small basement area under the front of the building.

Prezzo have fitted out the property to a high standard coinciding with their corporate image. The ground floor accommodates approximately 70 covers with an additional 50 covers on the first floor.

Freehold.

The property is Grade II listed and is situated within the Sudbury Conservation Area.

The permitted use is for any use falling within Class A3 or (with consent) A4 of the Town and Country Planning (Use Classes) Order 1987, together with ancillary bar and with or without ancillary takeaway sales including ancillary offices, storage and staff accommodation.

Prezzo Limited (Co. No. 3919682) has reported the following figures;

Prezzo Limited is a UK based Italian restaurant operator, with over 280 restaurants throughout the UK.  Prezzo PLC was acquired by TPG Capital in early 2015 in a deal valued at approximately £304 million.  TPG Capital is a leading global private investment firm with over $73 billion of capital under management.  Prezzo Limited has a Dun & Bradstreet rating of 5A1.  For further information visit www.prezzorestaurants.co.uk.

The property has been registered for VAT, however, it is envisaged the transaction will be treated as a Transfer of a Going Concern (TOGC).

1. Investment opportunity to acquire a highly secure, index linked, long income restaurant investment;

2. Let to Prezzo Limited – Total Net Worth £121m;

3. 27.5 years unexpired lease term, with no breaks;

4. The property comprises an attractive Grade II listed building occupying a prominent and accessible town centre location;

5. Sudbury is an historic and affluent Suffolk market town in an area of outstanding natural beauty;