• Freehold retail investment opportunity

• 13.75 years unexpired lease term

• Let to The Original Factory Shop

• Secure income; Shareholders’ Funds £50m

• Rent re-based in May 2016

• 7.3% net initial yield

The subject property occupies a prominent position fronting High Street, the town’s principal retailing pitch, close to its junction with Bank Street. Nearby occupiers include Boots, Betfred and a Tesco superstore as well as a number of local occupiers.

The property also benefits from being situated in a densely populated residential area.

The property comprises a well-configured double fronted retail unit on ground floor and basement which has the flexibility of being sub-divided in the future, subject to planning, to provide two units of similar size.

The property benefits from extensive frontage to High Street. Internally, the property has been fitted out by the tenant to their usual corporate style to provide a main retail area along with ancillary staff and storage accommodation.

The first floor comprises a residential apartment which has been “sold off” on a 125 year lease from 20th July 2005 at a peppercorn rent.

The property is located within a conservation area but is not listed.

Freehold.

The Factory Shop Ltd (Co. No. 4176887), has reported the following figures;

The Original Factory Shop was founded in 1969 and comprises 217 ‘mini’ department stores across the UK, as well as a trading website. The business sells a wide range of branded and own sourced products across fashion, footwear, and household departments at significant discounts to a broad customer base. Stores are most often in market towns and tourist locations where they act as both a shopping destination and the major non-food retailer in the immediate locality. The group has continued its store opening program, with 4 new stores opened in the latest financial year. The group believes there is potential for at least 400 Original Factory Shop stores throughout the UK. Additionally, the Olympic Programme has continued at pace, aimed at updating the older stores within the portfolio with 78 stores now through the process. A new £34.5m financing deal was agreed by the group in the financial period, which has guaranteed a further £10m of funding. This will allow the business to continue on its growth path and is a sign of the confidence their lending providers have in the future of the business.

For further information please visit https://www.tofs.com.

The property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

1. An opportunity to acquire a freehold retail investment;

2. The investment provides secure income - let to The Factory Shop Limited - Shareholders’ Funds £49.9 million;

3. 13.75 years unexpired lease term;

4. The tenant has recently demonstrated their commitment to this property by entering into a new reversionary lease;

5. Rent re-based in May 2016;

6. The property occupies a prominent position within Stalham’s principal retailing pitch;

7. A purchase at the asking price reflects an attractive net initial yield;

8. The investment provides a purchaser with an attractive lot size.