“During 2020 the UK market saw £40Bn of commercial property investment transactions. £10.5Bn of this was in Central London and a significant proportion (almost c.30%) was from Asia – based capital.” Allsop LLP & Millennium Group

UK property consultants Allsop LLP and Asia-based property advisors Millennium Group formed an alliance to strengthen their services to advise existing and new Asia-based investors looking to deploy capital into UK real estate. The alliance serves to leverage the long-standing relationships and understanding of Asian client needs with the experience, expertise and extensive local market knowledge of the UK markets. This international synergy enables us to create informed, sensible, bespoke strategies through the entire cycle of property investing that is tailored to individual or corporate requirements.

Services we offer overseas clients with UK assets and aspirations include:

Lease Advisory – Asset & Development Investment Advisory rent reviews & restructures Management

Development Valuation Office Leasing Consultancy

Residential Development Property Business Rates & Investment Management About About

• Established in 1906 • Pride ourselves on our open, • Established in 1998 • Independent property friendly and honest business • Full Asia coverage approach consultancy (LLP) • Numerous long-standing relationships with • Market-leading reputation for high • 19 Equity Partners Asia’s most prominent property investors quality service, market knowledge, • 125 Fee Earners insight and expertise • Property management partnership with MJ Mapp • Each instruction is Partner-Led • Offices in London West End, London City and Leeds

Allsop is an independent property consultancy, Our specialist investment teams cover London Millennium Group specialises in sourcing, Our Asian clientele extends from Hong Kong with a market-leading reputation for high West End, London City and UK National acquiring, managing and maximising and mainland China to Singapore, Korea, quality service, market knowledge, insight markets, and provide a personal service and institutional grade property in prime Taiwan, Japan, Malaysia and Indonesia, with and expertise. The firm has 19 equity partners the depth of market knowledge that enables international markets, typically valued in relationships also in Thailand and IndoChina. and 125 fee earners and each instruction the clients to achieve the best return on their excess of £50M (HK$500M) per investment. firm undertakes is always Partner-led. Our property investments. Allsop have advised We have concluded almost £2Bn acquisition success is built on over 100 years’ experience on a cross section of single and portfolios of With over 30 years’ experience we have transactions in the hotel, office, retail and in commercial and residential property commercial and residential assets, ranging developed numerous long-standing residential sectors. We currently asset manage consultancy, sales and acquisitions, and we from transaction sizes of £1M to £300M. relationships and mutual trust with Asia’s £210M of stock and development manage pride ourselves on our open, friendly and most prominent property investors. £675M GDV of future pipeline. honest business approach. The firm also offers a dedicated residential property management service and currently These investors include many of Asia’s Millennium Group with our property manages over £1.5Bn of UK property. most prominent high net worth individuals, management partner MJ Mapp, manages institutional investors, developers and £2Bn worth of commercial properties. sovereign wealth funds.

For more details on all Allsop services visit For more details on Millennium Group visit www.allsop.co.uk www.millenniumgroup.net Facts and Figures

Asian Client Activity

Development Management EMEA Asset Management Investment Transactions £125M confirmed £875M £2Bn £675M is in negotiation

Allsop corporate summary

Top 10 2039 transactions ranked Investment Agency Practice In Top 15 completed in the last year UK property consultants 0 that’s almost 170 a month, £1.5Bn on overall turnover 39 per week, 7.8 per day in the last year

In excess of Valued over Residential property management of 10% of market volume £14Bn transacted by the West End £1.5Bn property across the UK team in 2020 of property in 2020

No.1 Ranked number 1 auctioneers in the UK Key Personnel

James Abrahams Nick Pemberton Martin Kaye Partner - Allsop LLP Partner - Allsop LLP Chief Executive Officer - Millennium Group London City Investment & Development London West End Investment & Development Hong Kong T+44 (0)20 7330 1979 M+44 (0)7968 056 536 T +44 (0)20 7543 6775 M +44 (0)7711 070 131 T +852 2297 2206 M +44 (0)7481 414 066 [email protected] [email protected] [email protected]

James’ career began in 1999 with Allsop LLP and he has Nick has over 25 years’ experience in London’s West End Marty has over 30 years’ experience in real estate, and founded the worked in the City Investment & Development team since 2001. commercial property market. Millennium Group in 1998. In 2016 he was made an Equity Partner in the team. Prior to joining Allsop, Nick was a partner at Godfrey Vaughan He started his real estate career in Hong Kong in 1984 at Richard for 10 years, before merging with International where he Ellis (now CBRE), rising to Executive Director heading the Asia-Pacific Relevant Expertise / Specialism subsequently spent three years as Head of West End Investment. Investment & Agency division. • James has acted on significant high profile sales for UK Relevant Expertise / Specialism Relevant Expertise / Specialism institutions, REIT’s, high net worth investors and property companies. • Central London capital markets expert. • Diverse experience including construction / development, • Within the past 12 months James has sold Palace House • Specialises in UK Funds sales and Private Overseas client investment, advisory and asset management. in prime Southwark for £48.75M, The Epworth in investment purchases. • Established network of close, long-term relationships with Shoreditch for £73M, 9 & 16 Prescot Street for £57.5M • Asset Management and Development services for clients on prominent high net worth individuals, institutional investors, and Ibex House in EC3 for £121.5M. key assets. property developers, sovereign wealth funds and senior government officials across Asia. • James advises on significant development sites in the City • Nick also advises a number of Private UK Landlords and Family and City Fringes specialising in mixed-use schemes from Offices representing interests in the Middle East and Asia. • Recognising the potential of the UK property market growth, since initial planning through to the letting strategy and sale. 2012 he has been advising Asia-based capital on UK assets and has acquired almost £2Bn of commercial and residential real estate. Key Personnel

Piers Glover Chris Room Scott Tyler Partner – Allsop LLP Partner – Allsop LLP Senior Partner Asset Management & Development London City Investment & Development National Investment T+44 (0)20 7543 6810 M +44 (0)7802 609 867 T +44 (0)20 7588 4433 M +44 (0)7827 896 965 T +44 (0)20 7543 6719 M +44 (0)7787 501 732 [email protected] [email protected] [email protected]

Piers joined Allsop in 2011, from GVA Saxon Law where he was Head Chris started his career in 2010 with BNP Paribas Real Estate Scott began his career at in 1990. He joined the Investment of West End Investment & Development, to establish the London where he worked in the Central London Investment team before Department in 1993 and was invited to the Savills Commercial West End team with Nick Pemberton. joining Allsop in 2017 as a Partner in the London City Investment Board in 2004 becoming Head of Investment in the West End & Development team. The team offers investment, development, leasing and asset London office. management advice. Piers is involved in all disciplines across the Relevant Expertise / Specialism Scott joined Allsop from Savills in 2007 as an Equity Partner in the team providing a holistic view from each stand point, having worked National Investment team. He became Managing Partner of the in the Central London market for over 20 years. • Transaction sales experience includes The Epworth, 25 City Road, EC1 for £73M, Citygate House, Finsbury Square, EC2 Commercial Division in 2014 and in 2016 became Senior Partner Relevant Expertise / Specialism for £110M, Buchanan House, Holborn, EC1 for £40M, 51 of Allsop. Scott continues to play a day-to-day role in the National Eastcheap, EC3 for £50M and 110-114 Middlesex Street, E1 Investment team, winning and growing more investment business. • Heads the Asset Management team – assets advised on include for £36M. Imperial House, WC2, Pinners Hall, EC2, 65 Curzon Street, W1 Relevant Expertise / Specialism and 33 Gracechurch Street, EC3. • Specialises in UK Fund sales and acquisitions on behalf of both Private UK and Overseas investors, particularly those • Investment sales specialist. • Investment – experience includes the purchase of three of the with value-add requirements. 11 properties in the £1.1Bn WELPUT portfolio. • Overall strategy and running of the Allsop LLP business. • Development - experience was instrumental in the purchase of 40-48 Broadway, SW1 (£43.75M), 13-17 Fitzroy Street, W1(£98.5M) and 26-46 Lisson Grove, NW1 (£25M). Key Transactions

21 St James’s Square, 1 St James’s Square, 42-43 Great SW1 SW1 Marlborough Street, W1 Prime 61,381 sq ft fully Prime St James’s freehold Prime retail and office let freehold office building 103,655 sq ft office building building acquired on behalf sold on behalf of Columbia acquired on behalf of a of a Private Hong Kong Threadneedle Investments private Hong Kong investor Investor for £13.88M. After for £187.50M reflecting for £250.10M. The building refurbishment and re- 3.65% NIY. Pontegadea offers significant future asset letting the asset value has acquired the property. management opportunities significantly increased. following an initial 2-year leaseback to the vendor (BP).

Royal Scot Hotel, King’s 3 St James’s Square, 110 Cannon Place, EC4 Cross, WC1 SW1 Prime multi-let office 408-room, 3 Star Hotel Prime multi-let office building, with value add acquired on the day the building sold to a Private opportunities, bought on Brexit vote was passed, Hong Kong Family Office for behalf of a Private Mainland for a Hong Kong Listed £135M. Chinese Investor Company for £70.3M. for £93M. Key Contacts

London West End Team London City Team National Investment Team Valuation Team

Nick Pemberton James Abrahams Scott Tyler Edward Dunningham Partner Partner Senior Partner Partner Commercial Investment & Development Commercial Investment & Development Commercial Investment Commercial Valuation T: +44 (0)20 7543 6775 T: +44 (0)20 7330 1979 T: +44 (0)20 7543 6719 T: +44 (0)20 7543 6739 E: [email protected] E: [email protected] E: [email protected] E: [email protected]

James Pargeter Christopher Room Consultant Partner Jeremy Hodgson Katherine Bowen Commercial Investment & Development Commercial Investment & Development Partner Partner T: +44 (0)20 7543 6810 T: +44 (0)20 7588 4433 Commercial Investment Commercial Valuation E: [email protected] E: [email protected] T: +44 (0)20 7543 6709 T: +44 (0)20 7543 6708 E: [email protected] E: [email protected] Mark Ibbotson Matt Millman Associate Partner Commercial Investment Commercial Investment Dale Johnstone Gareth Hosgood T: +44 (0)20 7543 6879 T: +44 (0)20 7588 4433 Partner Partner E: [email protected] E: [email protected] Commercial Investment Commercial Valuation T: +44 (0)20 7543 6796 T: +44 (0)20 7543 6757 Chloe Newton Marsha Rabinovich E: [email protected] E: [email protected] Associate Associate Commercial Investment Commercial Investment T: +44 (0)20 7543 6886 T: +44 (0)20 7588 4433 Lottie Hayward Lease Advisory and Business Rates E: [email protected] E: [email protected] Associate Commercial Investment Richard Bourchier Richard Townsend Peter Lance T: +44 (0)20 7543 6750 Partner Partner Partner Lease Advisory Office Leasing Office Leasing E: [email protected] T: +44 (0)20 7543 6718 T: +44 (0)20 7588 4433 T: +44 (0)20 7543 6804 E: [email protected] E: [email protected] E: [email protected] Build to Rent Team

Barney Lewis James Neville Lesley Roberts James Acock Partner Partner Office Leasing Office Leasing Partner Partner Lease Advisory T: +44 (0)20 7543 6742 T: +44 (0)20 7588 4433 Letting and Management & Build to Rent E: [email protected] E: [email protected] T: +44 (0)20 7344 2653 T: +44 (0)20 7543 6786 E: [email protected] E: [email protected] Asset Management & Development Consultancy Andy Pointon Robert Sherwill Piers Glover Howard Kauffman Partner Partner Business Rates Partner Consultant National Commercial Investment & Build to Rent Asset Management & Development Investment & Asset Management T: +44 (0)20 7543 6720 T: +44 (0)20 7543 6814 T: +44 (0)20 7543 6810 T: +44 (0)20 7588 4433 E: [email protected] E: [email protected] E: [email protected] E: [email protected] Residential Investment & Development Team Student Housing Asia Office Andrew Boyd Anthony Hart Martin Kaye Elaine Wu Partner Partner Chief Executive Officer General Manager Residential Investment & Development Residential Investment & Development Millennium Group Millennium Group T: +44 (0)20 7344 2609 T: +44 (0)113 243 7950 T: +852 2297 2206 T: +852 2297 2206 E: [email protected] E: [email protected] E: [email protected] E: [email protected] OUR SERVICES Allsop LLP & Millennium Group Alliance

Central London West End Team

The team is led by 4 Partners, covering investment, development, leasing and asset management services in London’s West End Real Estate Market. Our Partners have a combined 100 years’ experience specialising in the West End sector, supported by a team of Associates and Surveyors. The Allsop West End team was involved in 10% of total London West End market transactions during 2020.

SPECIALISMS LEASING TEAM • The West End team provides joined up investment, • Advising on 500,000 sq ft of current acquisitions and disposals. development and leasing advice to deliver outperformance. • Active instructions range from 1,000 sq ft upwards, • We provide asset management advice to key clients. predominantly offices. • 80% of our work is for Landlords, including Legal & General, Aviva INVESTMENT TEAM Investors, Workspace Plc and The . • Our current pipeline of Landlord work has a project value • Advised on over £1Bn of real estate capital transactions in in excess of £4Bn. the last 24 months. • Office, retail and mixed-use transactions including education. CLIENTS • With our experience and depth of relationships over half • Include: Aberdeen Standard Investments, WELPUT, of our investment purchases are conducted and exercised Legal & General, Columbia Threadneedle, M&G Real Estate, off-market. Workspace Plc, Lazari Investments, Shun Ho Group, • Transactions range from £300M portfolios to small Lifestyle International and Citi Private Bank. individual lot sizes. • Our Asset Management Team offers comprehensive WHY ALLSOP? building business plan modelling in association with our • We are a Partner-led team. Lease Advisory and Valuation teams. • We have an in-depth working knowledge of London’s West • We provide development advice with a current advisory End property market, our expertise encompasses both the work pipeline of over £2Bn. investment and leasing markets, which allows us to provide clients with a joined up approach and to outperform. • We are exceptionally creative in the way we approach transactions and uniquely professional in the way we conduct our business. • We have unrivalled access to off-market opportunities. Key Contacts and Transactions West End Investment & Development Team West End Leasing Team

Nick Pemberton Piers Glover James Pargeter Mark Ibbotson Chloe Newton Richard Townsend Barney Lewis Harry Theakston Partner Partner Consultant Associate Associate Partner Partner Associate Investment & Development Investment & Development Investment & Development Investment Investment Leasing Leasing Leasing

+44 (0)20 7543 6775 +44 (0)20 7543 6810 +44 (0)20 7543 6883 +44 (0)20 7543 6879 +44 (0)20 7543 6886 +44 (0)20 7543 6718 +44 (0)20 7543 6742 +44 (0)20 7543 6842 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]

INVESTMENT 21 St James’s Square, INVESTMENT 1 St James’s Square, INVESTMENT One Neathouse Place, SW1 SW1 SW1 • Freehold • Freehold • Off-market development • 61,381 sq ft fully let office • 2-Year sale & leaseback sale building • 103,655 sq ft trophy office • Freehold • Purchaser: Pontegadea building • 117,472 sq ft vacant • Client: Columbia • Future asset management office and retail building Threadneedle Investments • Client: Private Hong Kong • Planning consent for a • Yield: 3.65% Investor 716-bed hotel • Client: Columbia ALLSOP & MILLENNIUM GROUP ACQUISITION Threadneedle INVESTMENT PURCHASE: OFF-MARKET DEVELOPMENT INVESTMENT SALE: £187.50M £250.10M SALE: £175.00M

INVESTMENT The Kensington Building INVESTMENT 65-68 South INVESTMENT 31 Dover Street, W1 & The Kensington Molton Street & • Freehold Arcade, W8 32 Brook Street, W1 • Multi-let 10,000 sq ft • Off-market development • Virtual Freehold • Office and retail building disposal • Multi-let 14,757 sq ft • Client: Private Overseas • Freehold office and retail building Investor • 128,663 sq ft of offices and • Client: Columbia retail on completion in 2021 Threadneedle • Client: Columbia Threadneedle

OFF-MARKET DEVELOPMENT INVESTMENT PURCHASE: SALE: C.£200.00M INVESTMENT SALE: £55.00M £22.35M Allsop LLP & Millennium Group Alliance

Central London City Team The team is led by 4 Partners, covering investment, leasing, development and asset management in London’s City and City Fringe real estate markets. Our Partners have a combined 200 years’ experience specialising in the City sector, supported by a team of Associates and Surveyors.

SPECIALISMS LEASING TEAM • The City team provides joined up investment, leasing • Advising on over 4,500,000 sq ft (including development pipeline) of office accommodation. and development advice to outfperform. • Currently under offer on 130,000 sq ft of office accommodation. • We provide asset management and development consultancy advice to key clients. • City Team has 950,000 sq ft of office accommodation currently available. • 70% of our work is Landlord instructions, including Trilogy, INVESTMENT TEAM , Brookfield, Resolution Property, Legal & General • Advised on over £1.5Bn of real estate capital transactions and Dorrington. in the last 24 months. • Office, retail and mixed-use investments including hotels. CLIENTS • With our experience and depth of relationships over half • Include: Schroders; Mizuho; Broadridge; Capreon; Peel Hunt; of our investment purchases are conducted and exercised London & Regional; The Estates Office; The Property Trust; off-market. Legal & General; Aberdeen Standard; ; Henderson Park and Dukelease • Transactions range from £5M freehold investments to £280M trophy assets. WHY ALLSOP? DEVELOPMENT CONSULTANCY • We are a Partner-led team. • Our development consultancy team currently advise • We have an in-depth working knowledge of London’s City property market, our expertise encompasses both the on over 6,000,000 sq ft of mixed-use accommodation investment and leasing markets, which allows us to provide which will be delivered over the next five years. clients with a joined up approach and to outperform. • We are exceptionally creative in the way we approach transactions and uniquely professional in the way we conduct our business. • We have unrivalled access to off-market opportunities. Key Contacts and Transactions City Investment & Development Team City Leasing Team

James Abrahams Howard Kauffman Christopher Room Matthew Millman Marsha Rabinovich Peter Lance James Neville Partner Consultant Partner Partner Associate Partner Partner Investment & Development Investment & Asset Investment & Development Investment Investment & Development Leasing Leasing Management +44 (0)20 7588 4433 +44 (0)20 7588 4433 +44 (0)20 7588 4433 +44 (0)20 7588 4433 +44 (0)20 7588 4433 +44 (0)20 7588 4433 +44 (0)20 7588 4433 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]

INVESTMENT - UNDER OFFER 60 Aldgate, London, EC3 INVESTMENT SALE 100 Leman Street, INVESTMENT SOLD The Epworth, • c. 213,960 sq ft London , E1 London, EC1 • Long Leasehold - new • Freehold • Virtual Freehold 500 year lease • 95,810 sq ft • Newly developed • Situated in the heart of • Prominent corner building ‘Best in Class’ Aldgate in the heart of Aldgate • Grade A office space • Planning permission • Multi-let with a block date • Long term income stream, granted for a landmark HQ of 2025 securely let to NTT Data UK office and retail building • Client: Aberdeen Consulting and IT solutions Standard Investments Limited and Spaces with a WAULT of over 13 years • Client: London & Regional INVESTMENT SALE: INVESTMENT SALE: QUOTING £40M QUOTING £68.0M INVESTMENT SALE: £73M

INVESTMENT ACQUIRED 10 Old Bailey, DEVELOPMENT CONSULTANCY Principal Place, DEVELOPMENT CONSULTANCY Arnold, & OFFICE LEASING & OFFICE LEASING London, EC4 London, EC2 London, EC2 • Long Leasehold c.114 years • 600,000 sq ft office • 75,000 sq ft of offices unexpired at 10% gearing. development by • Refurbishment & • 74,601 sq ft Brookfield extension in Prime • Let to 7 tenants with a • Pre-let to Amazon Shoreditch WAULT of c. 3 years to • Client: Brookfield • Client: The Property Trust earliest determination • Highly reversionary with upcoming lease events providing opportunity for asset management INVESTMENT ACQUISITION: DEVELOPMENT DEVELOPMENT £60.9M CONSULTANCY CONSULTANCY Allsop LLP & Millennium Group Alliance

Central London Asset Management & Development Consultancy The team is Partner-led, providing asset management and development consultancy advice in London’s West End and City real estate markets. Allsop provides expertise covering the entire life cycle of a building, offering Lease advisory, leasing, investment and development advice to provide robust and detailed business plans.

Asset Management

ROLE • Refurbishment / Redevelopment – analyse the business case for the refurbishment / redevelopment / repositioning • Tenant management. of a building, provide development appraisals and design • Identifying value enhancement opportunities – rent reviews, surrender specifications and instruct the parties agreed to implement and re-grant of leases, lease renewals, refurbishment works. the building strategy. • Regular appraisals of the implications major decisions have on a building’s liquidity and investment value. • Working with and instructing managing agents to run the building. WHY ALLSOP? • Reporting quarterly to clients with updated cashflows, ongoing • We are a Partner-led team. building strategy and managing agents’ report. • We have an in-depth working knowledge of London’s property market, which allows us to provide clients with a joined up approach and to outperform. SPECIALISMS • We are exceptionally creative in the way we approach a • Development Management – we have an established building’s strategy and uniquely professional in the way we and enviable track record of successful developments conduct our business. particularly within the London Boroughs of Westminster, the City of London, Hackney and Tower Hamlets. • Lease Management – with over 75 years of experience within our Lease Advisory team we have the unique set of skills and knowledge that are required to carry out rent reviews and lease renewals, which are the first opportunity to create performance in an asset. Development Consultancy

ROLE CLIENTS • Land, acquisitions and disposal strategies • UK Funds, PropCo’s, High Net Worth Private Overseas • Detailed feasibility and financial analysis/ modelling Investors and Public Bodies (including the London Borough of Hackney and the City of London. • Assembly and appointment of project teams • Scheme design – architectural and structural • Site assembly through Private Treaty and Compulsory WHY ALLSOP? Purchase Orders • Allsop are the most established and largest agent in the • Planning advice City Fringe area, providing development consultancy • Rights of Light advice advice and carrying out sales. • Marketing advice and leasing/sale strategies • The team have a long history dealing specifically with • Interface with government stakeholders including TfL and GLA planning matters, valuation, developments, leasing and • Process and timescale to project deliverability sales. • • Structure of Option and Development Agreements We provide the full spectrum of advice to generate the best value through our experience in the area working • Disposal advice and Joint Venture Arrangement closely with the Local Authority, tenants and end buyers. Key Contacts Asset Management & Development Consultancy Team

Piers Glover Howard Kauffman Marsha Rabinovich Oliver Burchell Partner Consultant Associate Trainee Surveyor Investment & Development +44 (0)20 7543 6810 +44 (0)20 7588 4433 +44 (0)20 7588 4433 +44 (0)20 7543 6833 [email protected] [email protected] [email protected] [email protected] Allsop LLP & Millennium Group Alliance

Asset Management Case Studies

Case Study 1 Case Study 2 Case Study 3 • 46,200 sq ft mixed use property. • Refurbishment of lower ground • 109,500 sq ft office building • Relocation of tenant who wanted • 105,500 sq ft office and retail • Tender process carried out • Offices on lower ground, ground floor space to include showers, arranged over lower ground, to leave, to larger space within building over basement, ground to improve building’s security and eight upper floors, with bike storage and storage space. ground and six upper floors. the building. Refurbished previous and six upper floors. provision following tenant ground and lower ground floor • Negotiation of rent reviews, lease • Negotiated dilapidations payment space and marketing to let. • Lease management including rent feedback. retail space. renewals and with an outgoing tenant, which • Ongoing work with the client review negotiations and prevention • Ongoing work with the client • Refurbishment and repositioning re-letting of refurbished office covered all costs incurred by the to produce quarterly asset of break operations. to produce quarterly asset of the ground floor reception, floors. client. management reports and annual • Feasibility studies produced to management reports and ensuring including dual access points, • Building now fully let and income • Creation of a block date by business plans for the building’s illustrate how the vacant basement that the building remains fully and refurbishment of the common producing at current market rental strategically positioning lease future redevelopment space can be more creatively income producing. parts. levels. renewal negotiations to enable • Refurbishment and short-term utilised including as tenant • Refurbishment of a number of the the building’s redevelopment in letting of vacant space. amenity space to drive rents or as office floors, including a private the future. directly income producing space roof terrace on the 8th floor. as storage units. Development Consultancy Case Studies

The Stage, EC2 Republic, East India Dock, E14 Alphabeta, Finsbury Square, EC2 • A 2.5 acre site assembled on • The development includes a one • A significant 6.4 acre Freehold • This high quality office campus • A vacant 200,000 sq ft property • Allsop advised on the international behalf of a private family acre public open realm centred island site acquired for £170M being created consists of four secured off market for Resolution marketing strategy to secure • £750M – total capital value of around the London Borough of (£280 psf), reflecting 6% NIY on buildings comprising 695,000 sq ft as a result of the Receivership of a purchaser. Following the project Hackney’s first Scheduled Ancient behalf of a club of major pension with 471 car parking spaces. This the Freeholder for £43M in 2015 implementation of the marketing • Project team assembly - scheme Monument, being Shakespeare’s funds, managed by LaSalle scheme is seeking rents of £35.00 • Creative refurbishment and campaign the property was sold design by Perkins + Will Curtain Theatre, which will be Investment Management. per sq ft. extension to create 244,661 sq in September 2015 for a price of • Obtained planning consent for housed in a purpose built visitor • £450M total capital value of project • To date, as consultants and ft of newly refurbished Grade £280M, reflecting a net initial yield 250,000 sq ft of office and retail centre and will become a premier • East India Dock was a tired 1990s leasing advisors for the scheme, A office, restaurant, bar, gym of 4% to Sinar Mas Land. accommodation and a 38-storey tourist attraction. development that had a vacancy rate of Allsop has secured 17 tenants on and ancillary accommodation • The transaction realised a net residential tower comprising 412 • Allsop advised on the Joint 50% with an average rent of £18 psf. the site including approximately which Allsop 100% pre-let during profit of £163M and was voted private apartments Venture structure between the • Allsop’s advice was to undertake 128,000 sq ft being taken up by construction. The landmark the 2016 UK Deal of the Year Freeholder and the development a phased refurbishment of the universities in the Import Building building is situated on the north by and the partners, led by Cain Hoy, Vanke, offices and analyse the potential and 37,000 sq ft being taken in the side of Finsbury Square. professional team won the Estate’s Galliard Homes and McCourt for significant mixed use Export Building. Gazette award for Agency Team leading to the sale of a new 250- redevelopment over the longer of the Year and RIBA Architect of year ground lease subject to a term whilst maximising returns by the Year. gearing of 4% focusing on the educational and related sectors in order to achieve a strong income stream from excellent covenants Allsop LLP & Millennium Group Alliance

National Investment Team The team is led by 5 Partners supported by a team of Associates and Surveyors with a combined 160 years’ experience. The team covers the entire UK outside of Central London across all sectors – office, industrial, retail, retail warehousing and leisure / hotels.

SPECIALISMS CLIENTS • Sale and acquisition of a wide range of properties • Include: Aviva Investors, Blackrock, British Land, British Steel, and portfolios ranging from £2M to over £100M. CBRE GI, TH Real Estate, Kames, Lone Star, London Metric, • Dedicated Private Client Team working within the M&G Real Estate, Aberdeen Standard Investments, National Team dealing in £2M to £10M lot sizes. Columbia Threadneedle, LaSalle Investment Management, Workspace Plc and XLB. EXPERIENCE / TRACK RECORD WHY ALLSOP? • Over £1.4Bn transacted in the last two years. • Over the last two years approximately 10% of the • We are a Partner-led team. investment portfolio market has been transacted • We have unrivalled access to off-market opportunities. by the Allsop National Investment Team. • Our in-depth market knowledge offers clients the best advice • In excess of 145 private treaty sales undertaken on their property investments. over the last two years. • Dealing with all sectors across all UK markets, we see an unequalled breadth of stock and opportunities. Key Contacts and Transactions National Investment Team

Scott Tyler Jeremy Hodgson Alex Butler Dale Johnstone Lottie Hayward James Salmon Tom Dales Richard Gale Senior Partner Partner Partner Partner Associate Associate Associate Associate +44 (0)20 7543 6719 +44 (0)20 7543 6709 +44 (0)20 7543 6722 +44 (0)20 7543 6796 +44 (0)20 7543 6750 +44 (0)20 7543 6880 +44 (0)20 7543 6866 +44 (0)20 7543 6755 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]

INDUSTRIAL PORTFOLIO Hornet Portfolio INDUSTRIAL PORTFOLIO CRM Portfolio OFFICE 300 Capability Green, • Seven industrial assets • Three multi-let industrial Luton spread across the UK assets in Greater London • Freehold • Total floor area of • Significant rental reversion • High quality office and 270,472 sq ft and management research building totalling • Average unexpired potential 181,750 sq ft term of 3.5 years • Corporate structured • Fully let to BAE Systems (2.5 years to breaks) transaction on a 25-year lease with 10 years unexpired

OFF-MARKET INVESTMENT OFF-MARKET INVESTMENT INVESTMENT SALE: £35.27M SALE: £20M PURCHASE: £62M

OFFICE 20 Chapel Street, SUPERMARKETS M&S Supermarkets, MIXED-USE 107-143 Liverpool Ferndown & Haslemere Muswell Hill Road, • Freehold • Prime Supermarket London, N10 • Prime office investments • Freehold accommodation built • Located within • Mixed-use investment in 2007 exceptionally affluent with development • Strong tenant line-up areas potential including Liverpool • 6 retail units, a cinema Football Club and 19 flats totalling 41,805 sq ft • Client: Nuveen Real Estate OFF-MARKET INVESTMENT OFF-MARKET INVESTMENT PURCHASE: £40M PURCHASE: £14.65M INVESTMENT SALE: £21.80M Valuation Team The team is led by 11 Partners with over 230 years of combined experience supported by a team of Associates and Surveyors. The team covers Central London and the entire UK.

SPECIALISMS CLIENTS We value for a variety of purposes including: • Include: UK lending banks and funders, Institutional Funds, Private Equity Investors, Property Companies, • Loan security valuations for all major lenders Private High Net Worth Investors, Charities and Solicitors. into the UK market. • Valuations for financial accounting. • Portfolio valuations. WHY ALLSOP • Development appraisals. • We are a Partner-led team. • Ground rents. • We work alongside our London City, London West End and • Mixed-use / Build to Rent / Student / HMO / specialist National Investment teams, some of the most creative and residential. proactive agents in the UK market, providing our valuers • Tax. with the best in depth market knowledge. • Charities Act. • We provide commercially minded market based opinions. • Expert Witness. • We are independent and are generally free from conflicts of interest.

EXPERIENCE / TRACK RECORD • Valued over £14bn in 2020. • UK wide coverage of all major asset classes, commercial, residential and alternative sectors. • Value properties at all price levels, our highest recent valuation was at £7Bn. Key Contacts and Transactions Valuation Team

Ed Dunningham Andrew Wells Rob Austen Gareth Hosgood Katherine Bowen Andrew Hoban Partner Partner Partner Partner Partner Partner +44 (0)20 7543 6739 +44 (0)113 236 6670 +44 (0)20 7344 2669 +44 (0)20 7543 6757 +44 (0)20 7543 6708 +44 (0)20 7543 6828 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]

OFFICE Central Saint Giles, WC2 INDUSTRIAL Elixir House, NW10 RETAIL Brixton Village & • Valued for fund • Valued for loan Market Row, SW9 acquisition purposes security purposes • Valued for year-end • Multi-let landmark mixed • Detached, single accounts purposes use office, retail and storey warehouse with • Two large indoor residential development three storey office market sites offering • Extending to approx. accommodation retail and restaurant 400,000 sq ft • Extending to 77,400 sq ft accommodation • The property is owner • Let to a subsidiary of occupied Groupe Geraud and operated as market space

APPROX. VALUE: £600M APPROX. VALUE: £13M APPROX. VALUE: £35M

MIXED-USE Tesco Site, DEVELOPMENT 37 Wood Street, RESIDENTIAL One Hyde Park, SW1 Morning Lane, E9 EC2 • Ground rent investment • Valued for acquisition • Valuation for accounts valued for internal purposes in connection purposes accounts purposes with a mixed-use • Grade II* listed police • One of London’s most development of the site station exclusive residential schemes, completed in January 2011 • Tesco supermarket • Proposed planning • Comprises 86 luxury and associated car to create a 201 room apartments parking for c. 250 cars luxury hotel • Part of a mixed-use development extending APPROX. GROSS APPROX. GROSS to circa 350,000 sq ft DEVELOPMENT VALUE DEVELOPMENT VALUE OF: £285M OF £130M APPROX. VALUE: £20M Allsop LLP & Millennium Group Alliance

Lease Advisory & Business Rates Team The team is led by 4 Partners supported by a team of Surveyors. Our Partners have a combined 115 year’s experience.

Lease Advisory

SPECIALISMS CLIENTS • Central London office market. • Include: Henderson Park, Miller Insurance, Columbia • Central London retail and leisure market. Threadneedle, Telereal Trillium, First Property Group, Hines, City of London Corporation, BMO, Sony, London Borough • South East industrial and office market. of Hackney, The Property Trust, XL Catlin, Aviva Investors, • Rent reviews. Capreon, Telefonica, CCLA, CBRE GI, Schroders, • Lease renewals. M&G Real Estate and UCity. • Re-gears. • Dilapidations. WHY ALLSOP? • Fundamental capability to deal with substantial complex EXPERIENCE / TRACK RECORD rent reviews for example Embankment Place, W1 (350,000 sq ft) • Instructions range from £60,000 - £20,000,000 and 20 Gracechurch Street, EC3 (150,000 sq ft). per annum rent roll. • Research capabilities – we have strong relationships in the • RICS Panel Arbitrator within the team. market and have a collaborative relationship with our London • Active instructions range from 2,000 sq ft to 85,000 sq ft. West End and London City investment and leasing teams. • Every instruction is serviced by a Partner. • Legal knowledge – a trusted understanding of valuation significant clauses. • Analytical – experienced in reasoned interpretation and adjustment of evidence in order to formulate rational arguments. Business Rates

WHAT ARE HOW WE CAN HELP SOME OF OUR CLIENTS BUSINESS RATES? If your property is: • ABP London (RAD). • A property tax payable by • Under refurbishment or redevelopment. • Mitsui Fudosan. property owners and occupiers. • Not capable of occupation • The Property Trust (HK). • The amount depends on (e.g. asbestos / fire escape issues). • Sony. the property’s “rateable • • value”, which is based on the Vacant - awaiting planning. Aviva Investors. hypothetical annual market • Vacant - with excessive rates liability • The Premier League rent value. What we can do: We represent funds, high net • Business rates are payable when worth individuals, property • Seek removal of your liability. the property is occupied, empty developers and property owners • or undergoing redevelopment. Challenge historic liabilities - and property occupiers. generation of a refund. • Where rateable value £0 has been achieved - ensure favourable date for re-entry to liability. • Mitigate your ongoing liability. Key Contacts Central London Lease Advisory Team Business Rates Team

Richard Bourchier James Acock John Banbury Robert Sherwill Aoife Broderick Partner Partner Partner Partner Associate +44 (0)20 7543 6804 +44 (0)20 7543 6786 +44 (0)20 7543 6791 +44 (0)20 7543 6814 +44 (0)20 7543 6802 [email protected] [email protected] [email protected] [email protected] [email protected] Allsop LLP & Millennium Group Alliance

Case Studies

RENT REVIEWS & LEASE REGEARS 33 Gracechurch Street, RENT REVIEWS AND LEASE RENEWALS Imperial Place, RENT REVIEW 4 Carlton Gardens, SW1 EC3 Borehamwood • 28,000 sq ft offices • 107,000 sq ft offices • 220,000 sq ft offices • Rent Review • Rent Reviews & Lease • Rent reviews and lease • Client: M&G Real Estate Regears renewals throughout the • Client: Asia Based scheme Investor • Client: First Property Group

OFFICE OFFICE OFFICE

RENT REVIEWS AND LEASE RENEWALS 50 Curzon Street, W1 RENT REVIEW 11 Chenies Street, W1 RENT REVIEW 99/121 Kensington • 26,500 sq ft of offices • 60,000 sq ft offices High Street, W8 & retail • Rent Review • 98,000 sq ft offices • Rent Reviews & • Client: Schroders • Rent Review Lease Renewals • Client: Sony Music • Client: Private Investor

OFFICES & RETAIL OFFICE OFFICE

BUSINESS RATES White City Place, W12 BUSINESS RATES Television Centre, W12 BUSINESS RATES Asian Foodhall, NW9 • 931,000 sq ft office and • 1.45M sq ft office, • Bang Bang Oriental retail redevelopment residential and leisure • Client: Edgware Capital • Client: Mitsui Fudosan / development Stanhope • Client: Stanhope / BBC / AIMCo / Mitsui Fudosan

SAVINGS: £4.0M SAVINGS: £1.6M SAVINGS: £900,000+ Allsop LLP & Millennium Group Alliance

Residential Investment & Development The Residential Investment & Development team comprises more than 20 industry experts, with 220 years of shared experience with national and regional coverage from both our offices in London and Leeds that includes a specialist Central London team.

SPECIALISMS CLIENTS • Investments - disposal and acquisition of blocks of • Include: Akelius, Stonegate Homes, Hudson’s, CBRE GI, flats, portfolios of flats and houses, HMOs and student Aviva Investors, NHS, Investec, , accommodation (both as assets and corporately). Sports Direct, Grainger, Long Harbour, Quintain, Student Cribs and various Receivers. • Developments - disposal and acquisition of land and buildings with / without planning, partially complete development sites, commercial buildings with development WHY ALLSOP? potential and development consultancy. • Co-ordinated joint marketing from both London and Leeds teams to maximise national and regional exposure. EXPERIENCE / TRACK RECORD • Unrivalled market knowledge supported by an extensive database of active investors. • Sold and acquired in excess of £1.1Bn worth of residential property over the last three years. • Ability to offer private treaty with auction backstop. • Transacted on a huge variety of assets with values • Ability to act jointly with our commercial investment teams from £1M to £60M. to add value for residential development / permitted development opportunities. • Deals undertaken in every region in mainland UK with a focus on London, the South East and the North. • Close integration / liaison with our Build to Rent team. • A growing presence, and number of deals transacted, across the Midlands including the Oxford-Cambridge Arc. Key Contacts and Transactions Residential Investment & Development Team

Andrew Boyd Anthony Hart Adam Kerven Michael Linane William Shoebotham James Wilson Partner Partner Partner Partner Partner Partner +44 (0)20 7344 2609 +44 (0)113 243 7950 +44 (0)20 7344 2628 +44 (0)20 7344 2623 +44 (0)20 7344 2659 +44 (0)113 236 6679 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]

Garden Square Portfolio, Regional Portfolio, High Road, London, W2 UK wide Wood Green, N22 • Freehold • Freehold • Vacant M&S department store • Three unbroken blocks • Eight residential blocks • Planning for a residential- • Affluent neighbourhood • Fully let on ASTs led redevelopment.

UNDER OFFER: ASKING PRICE £25M+ SOLD: C.£21M SOLD: £11.85M

Flax Place, Leeds North West Portfolio Bollo Lane, Ealing • Planning permission for a • 438 house and flats • Former industrial site development comprising • Across the NW of England • Planning permission for of 300 residential a mixed use scheme dwellings • Comprising 101 • Site extends to 0.53 ha residential units with (1.3 acres) gross commercial units at ground floor.

SOLD: 4.3M ACQUIRED: C.£32M SOLD C.£15M Allsop LLP & Millennium Group Alliance

Residential Build to Rent Total of 10 people specialising in all facets of BTR, derived from existing teams covering consultancy, agency and operations. We currently manage over 5,000 residential units on behalf of institutions and act as operating partner on a number of major build to rent schemes

SPECIALISMS CLIENTS • Research • Include: Land Securities, Goldman Sachs, Home Group, • Analysis and viability Moorfield, Greystar, Network Homes, Aberdeen Standard Investments, Access Self Storage, Lincoln Property Group, • Valuation McLaren Property Group, Grainger, PGIM, Realstar, Barings, • Operational consultancy Canada Life and ENGIE. • Letting and management • Development agency • Investment agency WHY ALLSOP? • Allsop are a niche specialist BTR consultancy. Our experience in transacting complicated forward funding transactions is key EXPERIENCE / TRACK RECORD in a sector still in a development phase. Managing over 5,000 • Advised on over £1.5Bn BTR developments units allows us to analyse all investment components of a across the UK. BTR opportunity as well as operating the assets themselves. Key Contacts and Transactions Build to Rent Team

Andy Pointon Lesley Roberts Matt Smith Kelly Smith Sam Verity Olivia Bentley Partner Partner Head of Asset Management Head of Operations Senior Surveyor Surveyor T: +44 (0)20 7543 6720 T: +44 (0)20 7344 2653 T: +44 (0)113 290 2516 T: +44 (0)20 7344 2622 T: +44 (0)20 7344 2622 T: +44 (0)20 7344 2638 M: +44 (0)7929 506 238 M: +44 (0)7738 436 416 M: +44 (0)7843 413 891 M: +44 (0)7786 731 323 M: +44 (0)7721 652 211 M: +44 (0)7425 862 795 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]

Fabrik, Leeds Becketwell, Derby Station Hill, Reading • Role: Investment • Role: Investment advisor • Role: Research, design, • Scheme: 216 units to the developer management and comprising a U-shaped • Scheme: 259 BTR operational consultancy buildings around a central apartments • Scheme: 550+ BTR units courtyard part of a wider mixed-use • was selected regeneration scheme as the investment partner • Provided competitor / rental analysis, a critique of the scheme, supported the planning process • Retained to provide operational and investment

The Forge, Newcastle Manox, Manchester Vox, Manchester • Role: Management • Role: Research • Role: Consultancy and • Scheme: 283 premium consultancy and management quality one, two and three investment • Scheme: 280 premium bedroom build to rent units • Scheme: 296 BTR houses one, two and three • The first true BTR scheme and apartments, forming bedroom build to rent in Newcastle. Designed part of a wider 16 acre apartments featuring a over three buildings and masterplan rooftop running track released in phases Allsop LLP & Millennium Group Alliance

Student Housing Team The student investment team comprises four industry experts with national and regional coverage from both our London and Leeds offices including specialists in HMO, small and large scale operational PBSA and development opportunities.

SPECIALISMS WHY ALLSOP • Investments – disposal and acquisition of HMO portfolios, • Considered approach spanning the whole UK student housing conversions and small to large scale PBSA student market; all asset types and deal structures • Developments – disposal and acquisition of land subject • Off-market bespoke requirement search function to student consent, forward commit and forward funding • Detailed market and investment appraisals with structures unrivalled datasets • Value-add – Acquisition of Bespoke acquisition advice • London and Regional market presence with support of our research partner Students • Close integration with our Build to Rent team CLIENTS • Student Cribs/ Mansford LLP, Steyn Group/ Almero Student, Empiric PLC, Student Tribe, Kexgill, Condor Properties. Key Contacts and Transactions Student Housing Team

Anthony Hart James Hood Vicky Bingham Nick Troubridge Partner Associate Senior Surveyor Senior Surveyor + 44 (0)113 236 6677 + 44 (0)20 7344 2637 + 44 (0)113 236 6682 + 44 (0)20 7344 2627 [email protected] [email protected] [email protected] [email protected]

• 48 bed PBSA development • 123 bed PBSA development • 698 bed HMO portfolio in Newcastle • 114 bed PBSA development ‘Waterside Village’ in Salford ‘City View’ in Jesmond ‘Bowran House’ in Preston

ACQUIRED: £11.30M SOLD: £7.86M ACQUIRED: £36.70M SOLD: £5.50M Services

Asset Management Auctions Build to Rent Business Rates Development Management UK Offices: Investment (Sale & Acquisition) Lease Advisory Head office: Letting and Management 33 Wigmore Street, London W1U 1BZ Tel: +44 (0)20 7437 6977 Office Leasing (Central London) Receivership City office: Student Housing 2 Copthall Avenue, London EC2R 7DA Tel: +44 (0)20 7588 4433 Valuation

Leeds office: 8th Floor, Platform, New Station Street, Leeds LS1 4JB Tel: +44 (0)113 236 6677

Asia Office:

Hong Kong office: Millennium Level 16, The Hong Kong Club Building, 3A Chater Road, Central, Hong Kong Tel: +852 2297 2206

millenniumgroup.net allsop.co.uk