6-10 Kirby Street Farringdon EC1 SAFFRON HOUSE 3 STRIKING REFURBISHED GRADE A OFFICES LOCATED IN THE HEART OF FARRINGDON AVERAGE RENT OF ONLY £57.28 PSF LESS THAN 200M FROM THE NEW ELIZABETH LINE STATION SAFFRON HOUSE 5

4.48%

FREEHOLD NET INITIAL YIELD AVERAGE PASSING RENT OF MULTI LET - WAULT OF £7 MILLION REFURBISHMENT NO IMMEDIATE ONLY £57.28 PSF - A 28% 6.60 YEARS TO EXPIRIES PROGRAMME RECENTLY CAPEX REQUIRED DISCOUNT TO PRIME (3.84 YEARS TO BREAKS) COMPLETED FARRINGDON RENTS

£87.5 £1,199 MILLION PER SQ FT

PRICE CAPITAL VALUE LESS THAN 200M FROM 72,976 SQ FT (6,779.6 SQ M) LOCATED IN A TMT HOTSPOT STRONG LEASING FARRINGDON STATION NIA OF EXCEPTIONAL GRADE AND HOME TO SOME OF THE HISTORY FROM A BROAD (ELIZABETH LINE) A OFFICES MOST EXCITING NAMES IN OCCUPIER BASE GLOBAL BUSINESS SAFFRON HOUSE 7

PROMINENTLY LOCATED IN THE HEART OF ONE OF LONDON’S MOST DESIRABLE AND SOUGHT AFTER SUB-MARKETS LESS THAN 200M FROM THE NEW ELIZABETH LINE (CROSSRAIL) AT FARRINGDON STATION

FARRINGDON STATION KING’S CROSS

EUSTONWOBURN PL

FARRINGDON ROAD SAFFRON HOUSE 1 9 ACE

GREAT EAST 17 17 GOSWELLROAD OLD STREET

ERN STREET 4 FARRINGDON 24 26

23 8 CITY 10 1 9 4 7 25 OLD STREET 2 3 R 12 3 OA 6

BOASTING SOME OF THE MOST D 5 4 5 8 11 EXCITING NAMES IN GLOBAL 13 6 AVENUE 5 D 14 15 ROA Y 20 ST JOH C R 7 CLERKENWELL O E 6 BUSINESS ATTRACTED BY FIRST CLASS B 7 M 9 1 ME N S ROSE 22 R CIA

CONNECTIVITY AND EXCELLENT TREE 27 18 L STRE 20 30 T RESTAURANTSOUTHAMPTON ROW AND LEISURE AMENITIES 19 ET GRAY’S CHARTERHOUSE GRAY’S SQUARE 2 HATTON G 21 INN GARDENS 2 THEOBALD’S ROAD 35 3 FARRINGDON ROAD31 12 INN ROA BARBICAN 18 19 10 ALDERSGATE STREET

ARDEN 16 D FARRINGDON 11 15 16 CHARTERHOUSE STREET CHANCERY 34 LANE 32 14

N 13 HIGH HOLBOR LOOMSBURY WAY TE B 33 A 29 LONDON WALL 28

HOLBORN VIADU BISHOPSG LIVERPOOL HOLBORN LINCOLN’S CT HIGH INN FIELDS CITY STREET OXFORD STREET THAMESLINK TOTTENHAM MOORGATE COURT ROAD CHARING CROSS OCCUPIERS AMENITIES HOTELS GRESHAM STREET

1 Alexander McQueen 13 Adidas 25 Yelp 1 Exmouth Market 12 St John 1 Citadines KINGSWAY FARRINGDON 2 Deloitte Digital 14 Photobox 26 Hill+Knowlton Strategies 2 Market 13 Bounce ST PAUL’S 2 Malmaison

3 Unilever 15 IDEO 27 KurtFLEET Geiger STREET 3 Clerkenwell Green 14 Club Gascon 3 The Rookery THREADNEEDLE STREET 4 Zaha Hadid Architects 16 Ben Sherman 28 Amazon 4 Dans Le Noir 15 4 The Rosebery ROAD E U 5 Ennismore 17 Splash Worldwide 29 Hogan Lovells 5 The Eagle 16 The New Gymbox 5 The Zetter Townhouse N E STREET V 6 Grimshaw Architects 18 Macmillan Publishers 30 Eventbrite 6 The Slaughtered Lamb 17 Exmouth Grind 6 Yotel A C H Y T D7W Publicis Groupe 19 AKQA (WPP) 31 Indeed 7 Granger & Co 18 Department of Coffee 7 The Bryson L K IN A 8 Airbnb 20 Save The Children 32 De Beers 8 The Modern Pantry & Social Affairs G Y R 19 The Fence CANNON STREET WILLI BU 9 Allford Hall Monaghan 21 LiveNation 33 Sainsbury’s PLC 9 Luca ES FT COVENT Morris (Ticketmaster) 34 Trade Desk 10 Hix 20 Pure Gym A AM ST SH GARDEN 10 Fred Perry 22 Tesco Digital QUEEN VICTORIA STRE STRAND 35 Grey Communications 11 Smithfield Market ET PIAZZA INNER 11 Solus 23 ClerkenwellMIDDLE WorkshopsTEMPLE REET 12 LinkedIn (Microsoft) 24 GoCardlessTEMPLE GARDENS GARDENS GRACECHURCH STREE UPPER THAMES STREET VICTORIA EMBANKMENT BLACKFRIARS FENCHURCH STREET CANNON STREET RIVER THAMES REGENT STREET RIDGE LOWER THAMES STREET B

STRAND

RIDGE SOUTHWARK

ON B CHARING CROSS

LOND

WATERLOO LONDON BRIDGE GREEN PARK ST JAMES’S PARK FARRINGDON STATION

LOCATION OF CHOICE FOR PRESTIGIOUS FINANCIAL, TMT, AND CREATIVE OCCUPIERS AND SOME OF MOST EXCITING NAMES IN GLOBAL BUSINESS EUSTON

WOBURN PL

ACE

GREAT EAST

GOSWELLROAD SAFFRON HOUSE FARRINGDON ROAD 13 ERN STREET

1 2

CITY LOCAL OLD STREET

R DEVELOPMENTS 7 OA

D 10 RUSSELL D SQUARE ROA ST JOH C CLERKENWELL 6 O M ME

MAJOR DEVELOPMENT N S 33 CHARTERHOUSE STREET EC1 BLOOM R 48-50 COWCROSS STREET EC1 CIA TREE ACTIVITY BY NUMEROUS Developer: Ashby Capital & Helical Plc Developer: HB Reavis L STRE

T Scheme: 192,000 sq ft Scheme: 134,986 sq ft SOUTHAMPTON ROW 8 Status: Completion due Q3 2022 Status: Completion due Q3 2021 HIGH-PROFILE DEVELOPERS ET Rent: Quoting £90.00 psf Rent: Quoting £90.00 psf 5 CHARTERHOUSE FUELLED BY THE ARRIVAL SQUARE

HATTON G BARBICAN OF THE NEW ELIZABETH FARRINGDON ROAD FARRINGDON 3 4 2 LINE AT FARRINGDON ALDERSGATE STREET ARDEN 3 T STATION LESS THAN 200M 9 FARRINGDON AWAY 1 CHARTERHOUSE STREE 4 KALEIDOSCOPE 17 CHARTERHOUSE STREET EC1 10 LINDSEY STREET EC1 CHANCERY HOLBORN LOOMSBURY WAY Developer: Helical Plc Developer: De Beers & Anglo American TE B LANE A Scheme: 88,600 sq ft Scheme: 200,000 sq ft of LONDON WALL Status: Completed Q4 2019 Status: Completion due Q1 2021 HOLBORN Rent: Quoting £92.50 psf Rent: Achieved £71.00 psf (blended) HOLBORN VIADU BISHOPSG

FARRINGDON 5 6 7 8 9 10 HOLBORN LINCOLN’S CT HIGH INN FIELDS CITY OXFORD STREET THAMESLINK TOTTENHAM MOORGATE COURT ROAD

STREET

CHARING CROSS GRESHAM STREET

KINGSWAY ST PAUL’S THE FARMILOE BUILDING 100 ST JOHN STREET EC1 THE RAY FARRINGDON, THE STILLS 20-23 GREVILLE STREET EC1 HERBAL HOUSE 34 ST JOHN STREET EC1 123 FARRINGDON ROAD EC1 76 TURNMILL STREET EC1 810 BACK HILL EC1 FLEET STREET THREADNEEDLE STREET Developer: Aberdeen Standard Investments Developer: Lothian Pension Fund Developer: Viridis Real Estate Developer: City of London Corporation Developer: Seaforth Land Developer: Aerium & Allied London Scheme: 100,000 sq ft Scheme: 35,566 sq ft ROAD Scheme: 63,396 sq ft Scheme: 31,297 sq ft Scheme: 38,000 sq ft Scheme: 115,000 sq ft E Status: Completed 2019 Status: Completed Q3 2019 Status: Completed Q3 2019 Status: Completion due Q4 2020 Status: Commencing Q4 2020 Status: Completed 2017 U N Rent: Achieved £100.00 psf (on best) Rent: Achieved £82.50 psf (on best) Rent: Achieved £85.00 psf (on best) Rent: Achieved £75.00 psf (on best) Rent: Quoting £75.00 psf (on best) Rent: Achieved £76.50 psf achieved (on best) E V A C H Y T DW L K IN A G Y COVENT R CANNON STREET WILL BU GARDEN ES FT A COVENT IAM SH GARDEN QUEEN VICTORIA STRE STRAND ET STREET PIAZZA INNER MIDDLE TEMPLE TEMPLE GARDENS GARDENS GRACECHURCH STREE TEMPLE UPPER THAMES STREET LEICESTER VICTORIA EMBANKMENT BLACKFRIARS SQUARE

REGENT STREET RIDGE LOWER THAMES STREET B

STRAND

RIDGE CHARING CROSS SOUTHWARK

ON B EMBANKMENT

LOND SAFFRON HOUSE 15

“THIS MAJOR LANDMARK WILL BE THE JEWEL IN OUR CROWN” SMITHFIELD MARKET, SADIQ KHAN, MAYOR OF LONDON THE MUSEUM OF LONDON & THE CULTURE MILE

• Smithfield Market - planning granted to transform the iconic market into a 450,000 sq ft 24-hour cultural, educational, leisure and entertainment hotspot.

• A new home for the Museum of London with 750,000 visitors every year.

• Planning approved June 2020 with an anticipated opening in 2024.

• Culture Mile – a new home for contemporary culture extending from Moorgate through to Farringdon finishing at the historic Smithfield Market less than 200m from Saffron House.

• A unique network of arts, cultural and educational organisations working collaboratively to create London’s newest cultural hotspot.

• The City of London Corporation, Barbican Centre, and the Museum of London working collaboratively to deliver a wide range of live events, festivals and community projects.

£337 MILLION REDEVELOPMENT SET TO TRANSFORM SMITHFIELD MARKET IN TO A WORLD-CLASS, 24-HOUR CULTURAL, EDUCATIONAL, LEISURE AND ENTERTAINMENT HOTSPOT SAFFRON HOUSE 17

CONNECTIVITY THAMESLINK A HIGHLY ACCESSIBLE LOCATION LESS LUTON AIRPORT THAN 200M FROM ONE OF LONDON’S 35 mins BEST CONNECTED TRANSPORT HUBS

KING’S CROSS ST PANCRAS 3 mins

200 metres

CROSSRAIL

HEATHROW PADDINGTON BOND STREET TOTTENHAM MOORGATE LIVERPOOL CANARY STRATFORD AIRPORT 8 mins 4 mins COURT ROAD 2 mins STREET WHARF 10 mins 31 mins 2 mins 2 mins 8 mins

FARRINGDON

BLACKFRIARS 4 mins

GATWICK AIRPORT GAME CHANGING TRANSPORT 39 mins ENSURING CONSTANT TENANT DEMAND AND UPWARD PRESSURE ON RENTS

ELIZABETH LINE (CROSSRAIL) Proposed station entrance at Farringdon

BRINGING LESS THAN 2 NEW TICKET A TRAIN EVERY 200 31 AN EXTRA 3-WAY HALLS 82,000 200 PASSENGERS MILLION MINUTES CONNECTIVITY AT COWCROSS 150 1.5 METRES TO LONDON PASSENGERS TO LONDON STREET (WESTERN PER DAY AT SECONDS MILLION FROM THE NEW UNDERGROUND, FARRINGDON PER ANNUM HEATHROW HALL) AND AT PEAK TIMES PEOPLE WITHIN ELIZABETH LINE THAMESLINK AND STATION AIRPORT LINDSEY STREET THROUGH 45 MINUTES OF AT FARRINGDON ELIZABETH LINE (EASTERN HALL) CENTRAL LONDON CENTRAL LONDON STATION SERVICES SAFFRON HOUSE 19

72,976 SQ FT (6,779.6 SQ M) OF STRIKING GRADE A OFFICES SAFFRON HOUSE 21

AVERAGE RENT OF £57.28 PSF - 28% DISCOUNT TO PRIME FARRINGDON RENTS OF £80.00 PSF SAFFRON HOUSE 23

£7 MILLION REFURBISHMENT PLAN COMPLETED IN 2019 - NO IMMEDIATE CAPEX REQUIRED SAFFRON HOUSE 25

IMPRESSIVE NEW CONTEMPORARY RECEPTION SAFFRON HOUSE 27

SUPERB NATURAL DAYLIGHT WITH FLOOR TO CEILING GLAZING ON ALL ELEVATIONS SAFFRON HOUSE 29

INTERCONNECTING STAIRCASE BETWEEN 4TH AND 5TH FLOORS OFFICE SPECIFICATION

Newly configured contemporary 5,411 sq ft of Interconnecting staircase reception and large communal external terraces between 4th and 5th floors lounge area

Superb natural daylight New fully accessible raised metal Modern suspended with floor to ceiling glazing tile flooring lighting on all elevations

Brand new exposed 3 x passenger New WC facilities air-conditioning system lifts on all floors (except ground floor – chilled beam)

3 X PASSENGER LIFTS OPENING Commissionaire Secure cycle Shower and DIRECTLY ONTO EACH OFFICE FLOOR storage changing facilities SAFFRON HOUSE 31

ACCOMMODATION MODERN OPEN-PLAN OFFICES IDEALLY SUITED TO OCCUPIER DEMAND

GIA NIA TERRACES

FLOOR USE SQ M SQ FT SQ M SQ FT SQ M SQ FT

5th Office 530.8 5,713 424.0 4,564 154.9 1,668

4th Office 810.9 8,728 666.5 7,174 146.3 1,574

3rd Office 1,097.7 11,816 960.1 10,334 60.2 648

2nd Office 1,206.0 12,981 1,082.0 11,647 61.2 659

1st Office 1,399.7 15,066 1,256.3 13,523 80.1 862

Office 1,087.2 11,703 - - Ground (Kirby Street) 1,502.1 16,168 Reception 142.3 1,532 - -

Ground (Saffron Hill) Office 1,600.9 17, 232 1,303.5 14,031 - -

TOTAL: 8,148.1 87,704 6,779.6* 72,976* 502.7 5,411

* Excludes reception SAFFRON HOUSE 33

5,411 SQ FT OF STRIKING OUTDOOR TERRACES SAFFRON HOUSE 35

NO BASEMENT FLOOR PLANS ACCOMMODATION

Riser

Stairs

Common Reception Lifts

SAFFRON HILL

Showers Ramp

Toilet KIRBY STREET KIRBY

Terrace Lightwell

Fire Lobby Lightwell Fire Lobby Terrace GROUND FLOOR - FIRST FLOOR KIRBY STREET

Plant Room Toilets Toilets

Plant Room

Stairs

Fire Escape Plant Lifts Plant Room

SAFFRON HILL KIRBY STREET KIRBY

Terrace

Terrace

Plant Room

GROUND FLOOR - SECOND FLOOR Fire Lobby SAFFRON HILL Fire Escape

Not to scale. Indicative only. SAFFRON HOUSE 37

FLOOR PLANS

Plant Room

Toilet Stairs

Lifts Toilets

Toilets Terrace

Terrace

Stairs

Terrace FOURTH FLOOR

Toilet Stairs

Lifts Toilets

Toilets Terrace

Terrace

Terrace Stairs

FIFTH FLOOR

Not to scale. Indicative only. SAFFRON HOUSE 39

TENURE

Freehold.

Not to scale. For identification purposes only. This plan is based upon the Ordnance Survey Map with the sanction of the controller of H.M. Stationery Office. Crown Copyright reserved.

PLANNING

Located in the . Saffron House is not Listed but lies within the Conservation Area. SAFFRON HOUSE 41

TENANCY SCHEDULE AVERAGE PASSING RENT OF ONLY £57.28 PSF 28% DISCOUNT TO PRIME FARRINGDON RENTS FULLY LET OF £80.00 PSF STRONG LEASING HISTORY WAULT OF 6.60 YEARS TO EXPIRY AND 68% OF INCOME OUTSIDE THE 1954 LTA 3.84 YEARS TO BREAK OPTIONS

FLOOR AREA TENANT LEASE LEASE RENT REVIEW BREAK RENT RENT COMMENTS (SQ FT) START END (£ PA) (£ PSF)

5th 4,564 Methods Business & Digital 21-AUG-19 20-AUG-29 21-AUG-24 20-AUG-24 £823,690 £70.17 • Outside 1954 LTA. Technology Limited • TBO on 20-Aug-24 on 9 months’ prior written notice. 4th 7,174 • 9 month RFP from 20-Aug-24 expiring 20-May-25 if TBO not exercised.

3rd 10,334 Cloudreach Europe Limited 10-OCT-17 9-OCT-27 10-OCT-22 9-OCT-22 £656,273 £63.51 • Outside 1954 LTA. • TBO on 09-Oct-22 on 6 months’ prior written notice. • 7 month RFP from 10-Oct-22 expiring 09-May-23 if TBO not exercised. • Rent deposit of £295,670.43 (inc. VAT).

2nd 11,647 Versus Arthritis 21-JUL-17 20-JUL-27 21-JUL-22 - £727,750 £62.48 • Inside 1954 LTA. • S/C Cap of £165,061.70 pa (£14.17 psf).

1st 13,523 Pitchbook Data Limited 22-JUN-17 21-JUN-27 22-JUN-22 21-JUN-22 £824,964 £61.00 • Outside 1954 LTA. • Lease assigned from Product Madness (U.K.) Limited to Pitchbook Data Limited on 28-Oct-19. • Morningstar Inc act as Guarantor. • TBO on 21-Jun-22 on 6 months’ prior written notice. • 7 month RFP from 22-Jun-22 expiring 21-Jan-23 if TBO not exercised. • S/C Cap of £191,711.29 pa (£14.18 psf). • Rent deposit of £495,060.32(inc. VAT).

Ground 11,703 The Chartered Governance 18-DEC-13 17-DEC-28 18-DEC-23 - £593,100 £50.68 • Inside 1954 LTA. (Kirby Street) Institute • Photographic schedule of condition. • S/C Cap of £103,784.56 pa (£8.87 psf). • Part of the premises is subject to an underlease to International Corporate Governance Network.

Ground 14,031 Habitat Retail Limited 22-SEP-19 21-MAR-21 - - £554,280 £39.50 • Outside 1954 LTA. (Saffron Hill) • Rent deposit of £225,222.99 (inc. VAT). • S/C Cap of £143,667.80 pa (£10.24 psf).

TOTAL: 72,976 £4,180,057 £57.28 SAFFRON HOUSE 43

COVENANT INFORMATION

Habitat Retail Limited PitchBook Data Limited (Company No. 07445750) (Company No. 09071191) Habitat Retail is a retailer of household furnishings Founded in 2006 and headquartered in Seattle, in the UK. PitchBook Data Limited is a financial data and software company offering an award-winning Habitat currently has 17 UK stores including three subscription-only platform that makes it easy to London flagship stores (Tottenham Court Road, track and analyse global M&A, Private Equity and and Westfield White City) one flagship Venture Capital transactions. store in Brighton, one standalone store in Leeds and twelve smaller ‘Mini Habitat’ format branches PitchBook has regional offices in London, San located in either Argos or Sainsbury’s stores. Francisco, New York City, Mumbai and Hong Kong and employs over 1,000 people including a team Habitat’s ultimate parent company is of 600 quality assurance researchers who conduct Sainsbury’s – the UK’s second largest chain of primary research. In 2016, PitchBook was acquired by supermarkets with a 16% market share. Morningstar, Inc. (NASDAQ: MORN) for more than www.habitat.co.uk $180 million. www.pitchbook.com

The Chartered Governance Institute Cloudreach Europe Limited Methods Business & Digital (Company No. RC000248) (Company No. 06975407) Technology Limited (Company No. 02485577) With around 34,000 members and a mission to Versus Arthritis Founded in 2009, Cloudreach is a cloud computing champion good governance and develop the value, consultancy, focused on the implementation and (Company No. 00490500) Established in 1990, Methods is the leading digital skills and effectiveness of company secretaries and operational support of public cloud services, including transformation partner for the UK public sector. governance professionals, the Chartered Governance Formed in 2018 following the merger of Arthritis Care Amazon Web Services, Microsoft Azure and Google Methods provides full stack transformational Institute (ICSA) is the qualifying and membership and Arthritis Research UK, Versus Arthritis is a team Cloud Platform. Headquartered in London, change services to government departments and body for governance professionals. Providing of carers, researchers, healthcare professionals and Cloudreach has multiple offices around the world agencies including the Home Office, Foreign and professional development, guidance and thought fundraisers all united in a shared ambition to ensure including Canada, France, Germany, India, The Commonwealth Office and Cabinet Office as well leadership for individuals and their employers, the that one day, no one will have to live with the pain, Netherlands, United States and Switzerland. as local authorities, healthcare institutions and ICSA works with regulators and policy makers to fatigue and isolation caused by arthritis. Versus Cloudreachs’ ultimate parent company is the infrastructure organisations helping to transform champion high standards of governance across all Arthritis is a registered charity (207711, SC041156). Blackstone Group – the world’s largest alternative the way public sector operates in the UK. sectors. investment firm. www.versusarthritis.org www.methods.co.uk www.icsa.org.uk www.cloudreach.com SAFFRON HOUSE 45

INVESTMENT MARKET

• A compelling case for Central London real estate investment with a low interest rate • Farringdon - robust occupational and investment credentials, underpinned environment, diminished returns on UK Government bonds and the devaluation of Sterling. by a severe lack of supply and affordable rents relative to the West End. • Strong demand and an acute lack of supply maintaining downward pressure on yields. • Prime yields of 4.00% - 4.25%. • Unprecedented levels of demand from both domestic and international capital. • Capital values in excess of £1,400 per sq ft.

DATE ADDRESS TENURE AREA RENT PRICE NIY CAPITAL VALUE BUYER (SQ FT) (£ PA) (£ PSF)

Sep-20 Saffron House, 6-10 Kirby Street, EC1 FH 72,976 £4,180,057 £87,500,000 4.48% £1,199 Available

Sep-20 The Corner Building, 91-93 Farringdon Road, EC1 FH 18,458 £1,145,239 £24,000,000 4.47% £1,273 Available

Aug-20 20-24 Kirby Street, EC1 FH 22,356 £876,450 £17,000,000 4.83% £760 Under offer (c. £19 million, £850 psf)

Jul-20 17-18 Haywards Place, EC1 FH 11,214 £695,000 £15,600,000 4.17% £1,391 La Francaise Real Estate Partners

Jul-20 Brand Union Building, 6 Brewhouse Yard, EC1 FH+LLH 34,615 £994,488 £29,600,000 3.15% £855 CBRE Global Investors

Jun-20 Chapter House, 1-2 Cranwood Street, EC1 FH 33,982 £2,202,552 £46,000,000 4.49% £1,354 RTP Global Real Estate Investments

Apr-20 90 Bartholomew Close, EC1 FH 30,929 £2,031,224 £48,500,000 3.92% £1,568 La Francaise Real Estate Partners

Jan-20 24- 25 Britton Street, EC1 FH 49,903 £2,806,000 £64,600,000 4.07% £1,295 ENPAM

Dec-19 44-46 Sekforde Street, EC1 FH 8,378 £512,158 £9,650,000 4.97% £1,152 Private Family Office

Oct-19 20 Farringdon Street, EC4 FH 90,432 £5,992,847 £131,000,000 4.29% £1,449 Tenacity

Aug-19 The Buckley Building, 49 Clerkenwell Green, EC1 FH 85,100 £4,870,000 £103,000,000 4.43% £1,210 CBRE Global Investors SAFFRON HOUSE 47

OCCUPATIONAL MARKET

DATE ADDRESS FLOOR AREA TENANT RENT • Farringdon is one of Central London’s most desirable (SQ FT) (£ PSF) and sought-after sub-markets.

Sep-20 Saffron House, 6-10 Kirby Street, London EC1 - 72,976 Multi-let £57.28 • Strategic location in the City Fringe, benefitting from supply constraints in City and West End. Aug-20 28 Kirby Street, EC1 4th 3,055 The Keyholding Company £62.50 • Destination of choice for financial, TMT and creative Feb-20 Corner Building, 91-93 Farringdon Road, EC1 1st 2,223 GumGum £76.50 occupiers including Publicis Groupe, Moonpig.com, LinkedIn, Kurt Geiger and Ben Sherman. Dec-19 55 Bartholomew Close, EC1 5th 1,041 ShadowFall £80.00

• Prime rents of £80.00 per sq ft. Sep-19 100 St John Street, EC1 5th 3,659 Palace Skateboards Ltd £73.50 • Average rent-free periods of 15 months on 10 years Oct-19 75 Farringdon Road, EC1 3rd 2,616 Blue Matter Consulting Ltd £81.50 and 9 months on 5 years. Sep-19 100 St John Street, EC1 5th 3,659 Morgan Sindall £82.50 • Exceptional connectivity less than 200m from the

Sep-19 90 Bartholomew Close, EC1 2nd - 4th 4,675 Peakton £82.00 new Elizabeth Line at Farringdon Station.

• Significant investment and development from Sep-19 90 Bartholomew Close, EC1 3rd 4,733 Constantine Cannon £76.00 numerous high-profile developers successfully Aug-19 Spectrum, 160 Old Street, EC1 7th 6,930 Samsat £85.00 attracting a broad occupier base.

Jul-19 32-38 Saffron Hill, EC1 3rd 3,550 SignalFx UK Limited £65.00

100 St John Street Achieved £82.50 psf (on best) 75 Farringdon Road Achieved £81.50 psf (on best) 90 Bartholomew Close Achieved £82.00 psf (on best) Spectrum, 160 Old Street Achieved £85.00 psf (on best) SAFFRON HOUSE 49

INVESTMENT RATIONALE

• Low capital value of £1,199 psf compared to recent Shoreditch and Clerkenwell transactions of more than £1,400 psf.

• Attractive Net Initial Yield of 4.48% vs prime Farringdon yields of 4.00%.

• Freehold.

• Offices let off an average of £57.28 psf - 28% discount to prime Farringdon rents of £80.00 psf.

• £7 million refurbishment programme recently completed - no immediate CAPEX required.

• Strong leasing history from a broad occupier base.

• Modern, highly specified, media-style offices ideally suited to occupier demand.

• Located in the heart of Farringdon one of Central London’s growth locations with constant tenant demand.

• First class local amenities home to some of London’s best restaurants and bars.

• Exceptional connectivity - less than 200m from the new Elizabeth Line at Farringdon Station. SAFFRON HOUSE 51

FURTHER INFORMATION

VAT CAPITAL ALLOWANCES

Saffron House is elected for VAT and it is No unclaimed capital allowances are available. anticipated that the transaction will be treated as a Transfer of Going Concern (TOGC). VIRTUAL TOUR

EPC Access to a Matterport virtual tour is available on request. Available on request.

PROPOSAL CONTACT

OFFERS IN EXCESS OF £87,500,000 (SUBJECT TO For further information or to arrange an inspection, please contact: CONTRACT) REFLECTING A NET INITIAL YIELD OF 4.48% Dominic Rowe Nick Steele [email protected] [email protected] (ASSUMING PURCHASERS’ COSTS OF 6.72%) AND A CAPITAL +44 (0)207 529 5706 +44 (0)207 529 5709 VALUE OF £1,199 PSF +44 (0)7771 766 094 +44 (0)7771 357 714 Peter Ng Harry Cox [email protected] [email protected] +65 6733 3212 +44 (0)207 529 5703 +44 (0)7584 686 394

Declaration: Michael Elliott LLP for themselves and for the vendors of this property whose agents they are, give notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) 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, but any intending purchaser should not rely on www.michaelelliott.co.uk them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Michael Elliott LLP has any authority to make or give any representations or warranty whatever in relation to this property. October 2020 www.cube-design.co.uk (Q4624)