THE GOSWELL - images1.loopnet.com

Reversionary Freehold Investment Portfolio

Three Adjoining Multi-Let Office Buildings Totalling 39,704 Ft2

Located Within London’s Vibrant EC1 Postcode

C L E R K E N W E L L E C 1

T H E G O S W E L LC O L L E C T I O N

Investment Summary

A portfolio comprising three multi let office buildings, prominently located within London’s EC1 postcode, close to Old Street roundabout.

- The portfolio consists of three properties:

104-110 Goswell Road EC1 77 Bastwick Street EC1 15-27 Gee Street EC1

All of the properties are held as freehold.

- Total net internal f loor area of 39,704 Ft² (3,688.59 M²), which has been provided by Sterling Temple measuring surveyors.

- The portfolio offers numerous asset management opportunities and is considered highly reversionary given the current climate in the market place.

- The residential apartments situated on the 3rd & 4th f loors of 15-27 Gee Street have been sold off on 999 year leasehold interests. There are no ground rents applicable.

- The current total net rental income is £1,794,457.50 /A, which equates to a low average passing rent of £45.20 /Ft².

- The vendor is seeking offers in excess of £35,000,000 (Thirty Five Million Pounds) subject to contract and exclusive of VAT, which ref lects a net initial yield of 4.85% after allowing for purchaser’s costs of 5.80%.

- Overall average low capital value of £881.52 /Ft².

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104-110 Goswell Road EC1 77 Bastwick Street EC1 15-27 Gee Street EC1

The Buildings

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Location

The properties are located within London’s EC1 postcode close to the Old Street roundabout and surrounded by a diverse range of residential, retail and commercial occupiers. Old Street Roundabout is the principal northern gateway into the City of London with City Road and Old Street the primary arterial roads connecting it with Angel, Kings Cross, Holborn and the West End.

Communications are excellent with Old Street (Northern Line), Barbican (Metropolitan, Circle and Hammersmith & City) and Farringdon (Metropolitan, Circle and Hammersmith & City) stations all within walking distance.

Crossrail

Farringdon Station is also the f lagship station for Crossrail, opening during 2018. When fully open, an estimated 140 trains per hour will f low through the Farringdon interchange and it will be the only station from which passengers will be able to access all three networks, becoming one of Britain’s busiest train stations.

Crossrail is estimated to bring an additional 1.5 million people within 45 minutes commuting distance of London’s key business districts.

Due for completion in 2018.

Journey Times

Reading57 mins

Bond Street4 mins

Whitechapel5 mins

Stratford10 mins

Canary Wharf8 mins

FarringdonHeathrow32 mins

Slough36 mins

Paddington8 mins

Tottenham Court Road

2 mins

Liverpool Street2 mins

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Local Occupiers

HoxtonSquare

Old StreetRoundaboutOld StreetRoundabout

HoxtonSquare

ClerkenwellGreen

ClerkenwellGreen

City Rd

Moorgate

King’s Cross Rd

Farringdon Rd

Gray’s Inn Rd

Gray’s Inn Rd

York Way

Bath St

Bunhill Row

Pearson St

East Rd

Pitfield St

Kingsland Rd

Shoreditch High St

Bishopsgate

Great Eastern St Commercial St

Hackney Rd

Old St

High Holborn Holborn Circus

Newgate

Beech St Sun St

Bethnal Green Rd

Upper St

Goswell Rd

Aldersgate St

Upper Wolburn Place

Southampton Row

Kingsway

Charterhouse St

Calthorpe St

Pentonville Rd City Rd

St. John St

St. John St

Chancery Lane

Caledonian Rd

Midland Rd Judd St

Hunter St

Clerkenwell Rd Old StTheobalds Rd

Rosebery Avenue

Hatton Garden

Whitecross St

Worship St

Cowcross St

Aylesbury St

Procter St

Tabernacle St

Paul St

West Smithfield Long Lane

Bevenden St

Hoxton St

Bastwick St

Gee St

Leather Lane

Fetter Lane

John St

London Wall London Wall

Golden Lane

Shepherdess Walk

New Fetter Lane

Britton St St. John’s Lane

Hatton Wall

St Cross St

Mount Pleasant

Great Sutton St

Northburgh St

Compton St Pear Tree St

Greville St

Percival St Lever St

Penton St

Amwell St

Spencer St Mooreland St

Exmouth Market

Ironmonger Row

Featherstone St Leonard StCentral St

ShoreditchHigh Street

Hoxton

LiverpoolStreet

Farringdon

Barbican

RussellSquare

Chancery Lane

Moorgate

Angel

Holborn

Euston St Pancras

Old Street

Kings Cross

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01 Amazon02 Buckley Gray Yeoman03 Capco04 FarFetch05 Google Campus06 Inmarsat07 John Brown Media08 LK Bennett09 Maxus10 Mendeley11 Mindcandy12 Moo13 Mother14 New Era15 OpenTable16 ORMS17 Sage18 Silicon Valley Bank19 Soundcloud20 Vice21 We Are Social22 Wrangler Jeans23 Lee Cooper Jeans24 7Digital25 Canon Europe26 CBS Interactive27 TransferWise28 R/GA29 AHMM Architects30 Vitra31 The Red Brick Road32 Stripe33 Pivotal34 Allegis35 BGL Group36 Kurt Geiger37 Beats by Dre38 Adidas39 Deloitte Digital 40 Hill + Knowlton (WPP) 41 Pitch (Unilever)42 Alexander McQueen 43 Euromonitor44 Heyne Tillet Steel45 Movember

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15-27 Gee Street

77 Bastwick Street

104-110 Goswell Road

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Surrounded by a vibrant community, the area benefits from immediate access to The City, Clerkenwell & Shoreditch.

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Along with an excel lent selection of bars, restaurants, coffee shops and retai lers.

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Silicon Roundabout & Tech City

Old Street

Old Street roundabout and the surrounding area has become synonymous with technology companies and web businesses leading to it becoming known as Silicon Roundabout, in a reference to America’s Silicon Valley.

In recent years, many technology companies have moved to the area and local occupiers now include; Amazon, Unruly, Google, Mindcandy, Last.fm, Transferwise, Adobe, BGL Group, Farfetch. An additional boost to the area’s ‘tech’ credentials came in September 2011 when Google opened their ‘Campus’ on Bonhill Street, which is now firmly established as a co-working and entrepreneur centre providing workspace for start-up tech firms that are hosted by TechHub, Central Working and Seed Camp.

In turn, the Old Street Roundabout area is an integral part of the wider East London Tech City ‘technology hub’, which stretches from Old Street to the Queen Elizabeth Olympic Park in Stratford. Cisco, Facebook, Google and Intel are amongst the companies that have committed to invest in the ‘hub’ with Imperial College London, Loughborough University and University College London also agreeing to be academic partners. This initiative has meant there has been rapid growth in the number of high-tech companies locating to the area in the last five years.

Local Developments

1 - Shoreditch Village, E1 Planning consent granted for 67,500 Ft2 mixed use office and retail scheme.

2 - White Collar Factory, EC1 Derwent London are developing White Collar Factory a new 237,000 Ft2 landmark office building. Clustered around a new public courtyard an additional five low rise buildings offer 39,200 Ft2 of f lexible workspace and restaurants.

3 - The Bower, EC1 Helical Bar & Crosstree Real Estate Partners have commenced development on the Bower comprising a 320,000 Ft² mixed use scheme. The Estate is made up of The Warehouse (122,000 Ft²) and The Studio (18,500 Ft²), all of which has been subsequently pre-let to the likes of Pivotal (EMC²), Farfetch, CBS Interactive, John Brown Media, Stripe, Allegis and has just recently practically completed the building works. Phase II of The Tower (165,000 Ft²) is about to commence construction and due for completion during Q3 2017.

4 - The Goodsyard, E1 Hammerson and Ballymore Group have submitted a planning application for the Bishopsgate Goodsyard 4.7 hectare site to provide up to 2,000 new residential units, office accommodation, shops, leisure facilities and 1.8 hectares of public open space.

5 - Blossom Street, E1 British Land have recently been granted planning permission for 3 sites covering 2 acres fronting onto Shoreditch High Street and Norton Folgate immediately to the north of Spitalfields and The City Core market. The sites have potential for around 355,000 Ft² of office, retail and residential accommodation in a mix of new, retained and refurbished buildings.

6 - The Stage, EC2 Plough Yard Developments are planning a multi-million pound regeneration of a 2.5 acre site in Shoreditch called ‘The Stage’. The residential led scheme has received planning consent to develop 385 residential units in a new 40-storey residential tower. There will be two office buildings totalling 250,000 Ft2 NIA and 50,000 Ft2 NIA of retail space.

7 - Principal Place, EC2 Brookfield Office Properties are constructing mixed-use scheme consisting of office, residential and retail space. The development will provide over 600,000 Ft2 NIA of office accommodation. The scheme will provide a brand new public piazza comprising half an acre of public realm and events space with more than 20,000 Ft2 NIA of retail space, including cafés. 450,000 Ft2 of offices are pre-let to Amazon Plc.

8 - Provost + East, N1 Designed by Buckley Gray Yeoman architects and developed by Rocket Investments, an 83,000 Ft² building due to complete in 2017. A 30m x 30m cube, on a dark grey brick podium provides a striking feature on the cityscape and will bring a fresh commercial offering to Old Street. It will comprise a lobby and retail space at ground level with ten storeys of office accommodation above. Floorplates vary in size, many featuring exterior terraces.

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2 4 6 8

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15-27 Gee Street

104-110 Goswell Road

77 Bastwick Street

Farringdon

Smithfield Market

Clerkenwell Green

Charterhouse Square

Barbican

Moorgate

Liverpool Street

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104-110 Goswell Road EC1

Description

The property comprising 6,143 Ft² (570.70 M²) is prominently situated on the corner of Goswell Road and Bastwick Street. It benefits from a dual aspect of windows along the north and west elevations, so enjoys fantastic natural daylight throughout the entire property.

The entrance lobby has recently undergone a complete architectural makeover, boasting polished concrete f looring, timber joisted wall and ceiling installation complemented by smart black gloss suspended pendant lighting.

There is also a manual shutter passenger lift that serves all of the f loor levels.

The 2nd & 4th f loors have also been recently overhauled to create an industrial chic and inspiring office space, benefiting from exposed concrete down stand beams and f loor columns, new oak f looring, modern suspended light fittings, exposed galvanised steel fan coil air-conditioning units and newly remodelled WCs with shower facilities.

The 1st & 3rd f loors are also in good condition, with modern fixtures and fittings

The Ground f loor showroom enjoys an independent front door with direct access from the street, together with a return frontage.

The current income is £249,202.50 /A (£40.57 /Ft²), which is considered to be highly reversionary.

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Accommodation

Floor Ft2 M2

Fourth 1,207 112.1

Third 1,291 119.9

Second 1,237 114.9

First 1,312 121.9

Ground 1,097 101.9

Total 6,143 570.7

The f loor areas have been provided by Sterling Temple measuring surveyors, where a duty of care letter will be provided to the Purchaser.

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For indicative purposes only (not to scale).

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Goswell Road

Goswell RoadGoswell Road

Goswell Road

Goswell Road

Ground Floor 1,097 Ft2 (101.9 M2)

Third Floor1,291 Ft2 (119.9 M2)

Second Floor1,237 Ft2 (114.9 M2)

First Floor 1,312 Ft2 (121.9 M2)

Fourth Floor1,207 Ft2 (112.1 M2)

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Schedule of Tenancies & Accommodation

Floor Tenant Ft² Rent /ARent /

Ft²Lease Start

Break Clause

Next Review

Lease End

Lease Length

Notes

FourthWiesner Hager Ltd

1,207 £66,715.00 £55.29 20/05/15 N/a N/a 19/05/20 5Rent Deposit: £20,014.50. Service charge cap: £14,556 +VAT

ThirdRainmaker Advertising Ltd

1,291 £31,875.00 £24.70 27/04/12 N/a N/a 26/04/17 5 Rent Deposit: £19,125

Second Vacant 1,237 £77,312.50 £62.50 N/a N/a N/a N/a N/aVendor one year rental guarantee of £77,312.50 +VAT

FirstEnsemble Interiors Ltd

1,312 £32,125.00 £24.48 09/11/12 N/a N/a 08/11/17 5Rent Deposit: £6,000Service charge cap: £13,790 +VAT

GroundLinkspan Interiors Ltd

1,097 £41,175.00 £37.54 25/02/14 N/a N/a 24/02/17 3

Total 6,143 £249,202.50 £40.57

Gee St

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Goswell Road

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Tenure Freehold Title: LN 138444.

Service Charge Currently running at £8.50 / Ft2.

Value Added Tax The property is elected for VAT.

Listed Status Not Listed.

Conservation Area N/a.

EPC EPC Rating: D-82.

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77 Bastwick Street EC1

Description

The property comprising 17,023 Ft² (1,581.48 M²) is situated on the south side of Bastwick Street and also fronts on to Gee Street. It is also close to the junction of Goswell Road.

The entrance lobby has recently been redesigned with a new reception desk, new lighting and wood f looring.

The 3rd & 4th Floors have also undergone an entire makeover refurbishment that includes; exposed concrete down stand beams and f loor columns, new oak raised f looring, modern suspended light fittings, exposed air-conditioning units with bespoke casings and newly remodelled self-contained WCs with shower facilities.

Most recently both of these f loors have been subsequently let to two independent tenants; Interior Architects Ltd and HDDA Ltd at £61.68 & £61.71 /Ft² respectively.

The ground & LG f loors are accessed from the main entrance lobby into a duplex configuration with an interconnecting staircase.

The building benefits from a dual aspect of windows along the front and rear elevations, allowing fantastic natural daylight that fills the entire room across each upper f loor level. The building also houses a communal roof terrace that all tenants can enjoy.

The current income is £691,524.00 /A (£40.62 /Ft²), which is considered to be highly reversionary.

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Accommodation

Floor Ft2 M2

Fourth 3,109 288.3

Third 3,117 289.6

Second 2,915 270.8

First 2,991 277.9

Ground 2,256 209.6

Lower Ground 2,635 244.8

Total 17,023 1581.0

The f loor areas have been provided by Sterling Temple measuring surveyors, where a duty of care letter will be provided to the Purchaser.

Lower Ground Floor 2,635 Ft2 (244.8 M2)

Second Floor 2,915 Ft2 (270.8 M2)

Third Floor 3,117 Ft2 (289.6 M2)

Fourth Floor 3,109 Ft2 (288.3 M2)


Ground Floor 2,256 Ft2 (209.6 M2)

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TenureFreehold Title: NGL743740.

Service ChargeCurrently running at £9.50 / Ft².

Value Added TaxThe property is elected for VAT.

Listed StatusNot Listed.

Conservation AreaN/a.

EPCEPC Rating: C-62.

Gee St

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Goswell Road

Bastwi

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Floor Tenant Ft² Rent /A Rent / Ft²

Lease Start

Break Clause

Next Review

Lease End

Lease Length

Notes

FourthInterior Architects Ltd

3,109 £191,750.00 £61.68 18/12/15 N/a N/a 17/12/20 5 Rent Deposit: £66,268.80

Third HDDA Ltd 3,117 £192,375.00 £61.71 04/01/16 04/01/21 04/01/21 03/01/26 10 Rent Deposit: £132,970

Second Cint UK Ltd 2,915 £81,536.00 £27.97 14/01/14 N/a N/a 13/01/19 5 Rent Deposit: £18,000

FirstSagsa Systems Ltd

2,991 £110,925.00 £37.08 12/03/15 N/a N/a 11/03/20 5Fixed uplift on 12/03/2018 to £118,320 /A. Rent Deposit: £8,143

GroundHeyne Tillett Steel Limited(Underlease to Maccreanor Lavington Ltd)

2,256

£114,938.00 £23.50 23/04/13 22/04/16 N/a 22/04/18 5

Rent Deposit: £45,975.39Service charge cap: £50,640 +VAT (only applicable until 22/04/16 – there is no service charge cap from 23/04/16)

Lower Ground

2,635

Total 17,023 £691,524.00 £40.62

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Further Development Potential

There is the possibility that further f loor area may be gained at 77 Bastwick Street, where our clients had recently engaged with local architects - Buckley Gray Yeoman to explore the building’s potential.

The car parking forecourt could be surrendered to make way for a new Ground & LG f loor extension with independent access directly from the street. The additional space could be up to 1,900 Ft² approx.

In addition the area located directly in front of the western stair core could also be built on as a commercial or residential new build block to produce a further 2,900 Ft² approx.

There may also be the opportunity to build a new commercial top f loor extension on the existing roof to create a further 2,360 Ft² dramatic penthouse, together with roof terracing on both front and rear elevations.

Further structural and planning investigations will be required.

Opportunity 1

Increase f loor area

Bastwick Street

Bastwick Street

Gee Street

Gee Street

approx2,360 Ft2 (220 M2)

approx1,720 Ft2 (160 M2)

20m

1.5m terrace

11m

1.5m terrace

Opportunity 2

Increase f loor area, approx 1,775 Ft2 (160 M2) could be gained per level.

Office ExtensionFor indicative purposes only (not to scale).

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Opportunity 3

Increase f loor area at ground and basement levels.

Opportunity 4

Retail offer.

Bastwick Street

Gee Street

Gee Street

approx965 Ft2 (90 M2)

approx535 Ft2

(50 M2)

approx535 Ft2

(50 M2)

recepti

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20m

7.5m

Office Extension Retail Extension Reception Extension For indicative purposes only (not to scale).

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Bastwick Street

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15-27 Gee Street EC1

Description

The property comprising 16,538 Ft² (1,536.42 M²) is situated at the end of the terraced block, which is bounded by Bastwick Street, Ludlow Street and Gee Street. It is is a former post war factory, having since being converted into a mixed used arrangement of 14 private residential apartments located on the 3rd & 4th f loors (now sold off on 999 year long-leases), together with commercial office accommodation situated on the Ground-2nd f loors.

The ground f loor is split into two demises. There is a self-contained entrance from 60 Bastwick Street leading into part of the ground f loor together with an interconnecting staircase into the 1st f loor level. This space was comprehensively refurbished by Buckley Gray Yeoman Architects before being pre-let to G Adventures Ltd at £44.98 /Ft². The balance of the ground f loor is accessed directly from 15-27 Gee Street and is leased to RNT Ltd at £43.85 /Ft². Both of these spaces are considered highly reversionary.

The 2nd f loor is currently undergoing a full refurbishment to provide; original revived parquet wood f looring, generous ceiling heights, modern suspended caged lighting, grit blasted concrete down stand beams and columns, new air-conditioning and new self-contained WCs.

The entrance and lobby approached directly from Gee Street is being overhauled to provide a modern contemporary feel in keeping with the rest of the property’s industrial chic aesthetics.

All f loors are serviced by way of a passenger lift.

The current income is £853,731 /A (£51.62 /Ft²), which is considered to be highly reversionary.

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Accommodation

Floor Ft2 M2

Second 5,726 532.0

First 5,563 516.8

Ground (Bastwick Street) 1,011 93.9

Ground (Gee Street) 4,238 393.7

Total 16,538 1,536.4

The f loor areas have been provided by Sterling Temple measuring surveyors,where a duty of care letter will be provided to the Purchaser.

Bastwick Street

Gee Street

Ground Floor Bastwick Street - 1,011 Ft2 (93.9 M2) / Gee Street - 4,238 Ft2 (393.7 M2)


Second Floor 5,726 Ft2 (532 M2)

Bastwick StreetBastwick Street

Gee StreetGee Street


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Floor Tenant Ft² Rent /A Rent/ Ft²

Lease Start

Break Clause

Next Review

Lease End

Lease Length Notes

Third & Fourth

15/27 Gee Street Residential Management Co Ltd

0 £0.00 £0.00 29/05/98 N/a N/a 18/05/97 999 Residential Sold Off

Second Vacant 5,726 £372,190.00 £65.00 N/a N/a N/a N/a N/aVendor one year rental guarantee of £372,190 /A +VAT

FirstG Adventures Ltd

5,563£295,695.00 £44.98 19/09/14 N/a N/a 18/09/19 5

Rent Deposit: £266,125.60Part

Ground1,011

Part Ground

RNT Ltd 4,238 £185,846.00 £43.85 27/11/14 N/a N/a 18/09/19 5Rent Deposit: £42,209.79Service charge cap: £22,080 +VAT

Total 16,538 £853,731.00 £51.62


TenureFreehold Title: LN27385.

Service ChargeCurrently running at £3.50 / Ft2.

Value Added TaxThe property is elected for VAT.

Listed StatusNot listed.

Conservation AreaN/a.

EPCEPC Rating: C-73.

Gee St

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Floor Tenant Ft2 Rent /A Rent /Ft2 Lease Start Break Clause Next Review Lease End Lease Length Notes

Fourth Wiesner Hager Ltd 1,207 £66,715.00 £55.29 20/05/15 N/a N/a 19/05/20 5Rent Deposit: £20,014.50. Service charge cap: £14,556 +VAT

Third Rainmaker Advertising Ltd 1,291 £31,875.00 £24.70 27/04/12 N/a N/a 26/04/17 5 Rent Deposit: £19,125

Second Vacant 1,237 £77,312.50 £62.50 N/a N/a N/a N/a N/aVendor one year rental guarantee of £77,312.50 +VAT

First Ensemble Interiors Ltd 1,312 £32,125.00 £24.48 09/11/12 N/a N/a 08/11/17 5Rent Deposit: £6,000Service Charge Cap: £13,790 +VAT

Ground Linkspan Interiors Ltd 1,097 £41,175.00 £37.54 25/02/14 N/a N/a 24/02/17 3 -

Total 6,143 £249,202.50 £40.57



Fourth Interior Architects Ltd 3,109 £191,750.00 £61.68 18/12/15 N/a N/a 17/12/20 5 Rent Deposit: £66,268.80

Third HDDA Ltd 3,117 £192,375.00 £61.71 04/01/16 04/01/21 04/01/21 03/01/26 10 Rent Deposit: £132,970

Second Cint UK Ltd 2,915 £81,536.00 £27.97 14/01/14 N/a N/a 13/01/19 5 Rent Deposit: £18,000

First Sagsa Systems Ltd 2,991 £110,925.00 £37.08 12/03/15 N/a N/a 11/03/20 5Fixed uplift on 12/03/2018 to £118,320 /A. Rent Deposit: £8,143

GroundHeyne Tillett Steel Limited (Underlease to Maccreanor Lavington Ltd)

2,256

£114,938.00 £23.50 23/04/13 22/04/16 N/a 22/04/18 5

Rent Deposit: £45,975.39Service Charge Cap: £50,640 +VAT (only applicable until 22/04/16 – there is no service charge cap from 23/04/16).

Lower Ground 2,635

Total 17,023 £691,524.00 £40.62



Third & Fourth15/27 Gee Street Residential Management Co Ltd

0 £0.00 £0.00 29/05/98 N/a N/a 18/05/97 999 Residential Sold Off

2nd Vacant 5,726 £372,190.00 £65.00 N/a N/a N/a N/a N/aVendor one year rental guarantee of £372,190 /A +VAT

FirstG Adventures Ltd

5,563£295,695.00 £44.98 19/09/14 N/a N/a 18/09/19 5 Rent Deposit: £266,125.60

Part Ground 1,011

Part Ground RNT Ltd 4,238 £185,846.00 £43.85 27/11/14 N/a N/a 18/09/19 5Rent Deposit: £42,209.79Service Charge Cap: £22,080 +VAT

Total 16,538 £853,731.00 £51.62

Grand Total 39,704 £1,794,457.50 £45.20

All break options are tenant only.All break clause options have 6 month notice periods.All leases are contracted outside The Landlord & Tenant Act 1954 (part II) as amended.

Total Schedule of Tenancies & Accommodation

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Occupational Transactions

Market Commentary

Occupational Market

Central London: The London vacancy rate has been falling for almost three years and has fallen to just below 3% -- a 15 year low. Grade- A availability at the end of 2015 is down by 43% against the end of 2014 and Grade-B space down by 23%.

Demand is coming from a wide range of sectors, including Fintech and the traditional City FBS sectors as well as Media and Tech in the West End. Demand across non-core submarkets continues to come from a wide range of occupiers looking for affordable Grade-A space. Supply continues to lag, with a considerable quantum of new space already pre-let.

Tech City is enjoying the benefits of the clustering of technology firms and start-ups within the district, where the growth of this sector is being elevated by the government organisation known as Tech City UK, which aims to support tech business growth. This is and will continue to be a strong foundation of occupier demand going forward. Prime City Fringe rents are now breaking through the £70.00 /Ft² barrier, but given the severe lack of deliverable supply it is unlikely to stop there.

Colliers’ view: Unchanged. Occupier fundamentals continue to strengthen and demand across UK regions is holding up, supporting good to strong rental growth.

109-111 Farringdon Road, Clerkenwell EC1

Exmouth House, 3-11 Pine Street, Clerkenwell EC1

The Warehouse | The Bower, Old Street, Shoreditch EC1

The Corner, 91-93 Farringdon Road, Farringdon EC1

Deal Date: Q3 2015Floor: 1st Size: 3,177 Ft² approxRent: £66.00 Ft² Lease: 5 yearsBreak: N/a

Deal Date: Q3 2015Floor: 3rd Size: 3,641 Ft² approxRent: £68.00 Ft² Lease: 5 yearsBreak: N/a

Deal Date: Q4 2015 (Pre-let)Floor: 7th Size: 12,240 Ft² approxRent: £67.50 Ft² Lease: 5 yearsBreak: N/a

Deal Date: Q4 2015Floor: 5th Size: 2,768 Ft² approxRent: £65.00 Ft² Lease: 5 yearsBreak: N/a

River House, 143-145 Farringdon Road, Clerkenwell EC1

Diamond House, 36-38 Hatton Garden, Farringdon EC1

Compton Courtyard, 40 Compton Street, Clerkenwell EC1


Deal Date: Q3 2015Floor: 5th Size: 2,736 Ft² approxRent: £70.00 Ft² Lease: 10 yearsBreak: 5th

Deal Date: Q3 2015Floor: 4th Size: 6,265 Ft² approxRent: £62.50 Ft² Lease: 10 yearsBreak: 5th

Lector Court, 155-157 Farringdon Road, Clerkenwell EC1


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Capital TransactionsInvestment Market

UK direct investment topped £64bn according to Property Data Ltd, surpassing last year’s £63bn. December 2015’s volume (£4.4bn) was much lower than December 2014’s phenomenal result (£11.3bn). Property Archive, though, reports that 2015 transactions topped £70bn, surpassing last year’s £69bn total. On balance, it looks as though 2015 volumes were robust, but that the year was front loaded. Central London Offices is always seemingly the focus, with foreign investors continue to drive the market, accounting for over 50% of transactions by value.

Foreign investors continue to dominate the market taking a 50%+ share of purchases in Q4 15. Conditions look set for a continuation of cross border investment into the UK given the weight of international capital and on-going political and economic uncertainty globally. January 2016 looks to be off to a reasonable start, no doubt driven by deal overhang from December. UK institutions remain well funded with net cash inf lows stable in November (£176m), although down by half against November 2014 (£344m). Foreign investor demand is set to continue in 2016 with interest in alternative assets increasing. Property yields remain stable for core assets.

16-17 Bowling Green Lane, Clerkenwell EC1

65 Clerkenwell Road, Clerkenwell EC1

Klaco House, 28-30 St John’s Square, Clerkenwell EC1

55 Farringdon Road EC1

Deal Date: Q3 2015Size: 7,888 Ft² approxTenure: Freehold Spec: Grade BIncome: £353,037.69 /A (£44.76 /Ft²)Price: £8,874,575 (£1,125.07 /Ft²) NIY: 3.76%

Deal Date: Q2 2015Size: 12,682 Ft² approxTenure: Freehold Spec: Grade BIncome: £479,180 /A (£37.78 /Ft²)Price: £12,175,000 (£960.02 /Ft²) NIY: 3.72%

Deal Date: Q2 2015Size: 7,734 Ft² approxTenure: Freehold Spec: Grade BIncome: £232,548.40 /A (£30.07 /Ft²)Price: £7,000,000 (£905.09 /Ft²) NIY: 3.14%

Deal Date: Q4 2015Size: 4,716 Ft² approxTenure: FreeholdSpec: Grade BIncome: £166,263 /A (£35.26 /Ft²)Price: £4,250,000 (£901.19 /Ft²)NIY: 3.70%

Clerkenwell House, 45-47 Clerkenwell Green,Clerkenwell EC1

2 Pear Tree Court, Clerkenwell EC1

Wren House, 43 Hatton Garden, EC1

Deal Date: Q4 2015Size: 10,770 Ft² approxTenure: Freehold Spec: Grade BIncome: £301,529.41 /A (£28.00 /Ft²)Price: £11,000,000 (£1,021.36 /Ft²) NIY: 2.59%

Deal Date: Q4 2015Size: 14,343 Ft² approxTenure: Freehold Spec: Grade AIncome: £489,411.94 /A (£34.12 /Ft²)Price: £15,550,000 (£1,084.15 /Ft²) NIY: 2.77%

Deal Date: Q3 2015Size: 15,497 Ft² approxTenure: Freehold Spec: Grade AIncome: £642,927 /A (£41.49 /Ft²)Price: £14,500,000 (£935.66 /Ft²) NIY: 4.19%

Klamath House, 18-19 Clerkenwell Green, Clerkenwell EC1

Deal Date: Q4 2015Size: 15,003 Ft² approxTenure: Freehold Spec: Grade AIncome: £500,000 /A (£33.33 /Ft²)Price: £15,900,000 (£1,059.79 /Ft²)NIY: 2.97%

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Colliers International & DL Silver & Co, give notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International & DL Silver & Co has any authority to make any representation or warranty whatsoever in relation to this property. January 2016

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Michael Raibin [email protected] T: +44 (0) 20 7871 7421 M: +44 (0) 7880 795 679

Richard Silver [email protected] T: +44 (0) 20 7871 7423 M: +44 (0) 7980 205 293

Shaun Simons [email protected] T: +44 (0) 20 7871 7422 M: +44 (0) 7788 423 131

David Silver [email protected] T: +44 (0) 20 7183 5549 M: +44 (0) 7881 631 674

George Collins [email protected] T: +44 (0) 20 7183 5547 M: +44 (0) 7872 605 362

Further Information

VAT

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

Data Room

An electronic data room is available for the portfolio. For access to the data room please contact Colliers International or DL Silver & Co.

Proposal

The vendor is seeking offers in excess of £35,000,000 (Thirty Five Million Pounds) subject to contract and exclusive of VAT, which ref lects a net initial yield of 4.85% after allowing for purchaser’s costs of 5.80%.

Contact

For further information or to arrange viewings, then please do not hesitate in contacting joint sole selling agents:

Documents

THE GOSWELL - images1.loopnet.com