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Motor Company PLC PINLEY HOUSE & TECHNICAL CENTRE

PRIME HEADQUARTERS INVESTMENT WITH LONG DATED INCOME AND FIXED UPLIFTS PINLEY HOUSE

PRIME HEADQUARTERS INVESTMENT OPPORTUNITY PROVIDING SECURE, LONG-DATED INCOME WITH FIXED UPLIFTS

02 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 03 TECHNICAL CENTRE

04 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 05 4 Peugeot Motor Company PLC INVESTMENT SUMMARYPeugeot Motor Company PLC 5

• A primeInvestment HQ investment Summa opportunityry providing secure, long- dated income with guaranteed rental performance. • Located Ain prime Coventry headquarters at the heart investment of the UK, opportunity an integral location for the Britishproviding automotive secure, industry. long-dated income with fixed uplifts. • The site comprises Pinley House and the Technical Centre, both of which L wereocated specifically in Coventr y,built the forheart the of tenant the UK in and 2006. the second largest city in the West . • Pinley House is a modern Grade A office, built to a high specification A significant which totalslocation107,424 for the sqBritish ft on automo a 7.5 tiveacre site. industry. • The Technical Centre is a modern warehouse totalling 59,004 sq ft on Thea site site of comprises 6.5 acres Pinleyproviding House a low and site the densityTechnical of 20.9%. • ExceptionalCentre, parking both of of 1:190which weresq ft specificallyand 1:139 built sq ft for for the Pinley House andtenant the inTechnical 2006. Centre respectively. • Freehold Pinley. House is a modern Grade A oce, built to a high specification and totals 107,424 sq ft on a 7.5 • Single letacre to site.Peugeot Motor Company PLC, the wholly owned subsidiary of PSA Group whose brands include Peugeot, Citroen, DS, Opal The and T echnicalVauxhall. Centre is a modern warehouse totalling 59,005 sq ft on a site of 6.5 acres providing a low site • PSA Group are the second largest manufacturer in Europe. density of 20.9%. • A unexpired lease term of 11.3 years without breaks. Exceptional parking of 1:190 sq ft and 1:139 sq ft for • The rentsPinley are reviewed House and 5 yearly,the Technical upwards Centre only, respectivel in line withy. RPI capped at 5% and collared at 2%. Freehold. • The most recent review was in October 2018, the rent increased to £1,860,691 Single let per to annumPeugeo t(£18.21 Motor Co permpany sq ft) PL forC, thePinley wholly House and £404,523owned subsidiarper annumy of (£6.85 PSA Group per sqwhose ft) for brands the Technical Centre providinginclude Pe a ugtotaleot, annual Citroen rent, DS, Opalof £2,265,214 and Vauxhall..

• There are PSA two Group subsequent are the secondreviews larg on est16 carOctober manufacturer 2023 and 16 October in2028 Europe. • Offers are invited in excess of £35,360,000, which reflects anet A unexpired lease term of 13 years without breaks. initial yield of 6.00%, assuming standard purchaser’s costs of 6.77%, Theand rentsa very are low reviewed capital 5value yearly of, upwards £212 per onl sqy, in ft line with RPI capped at 5% and collared at 2%. • A purchase at this level provides the following, excellent cash on cash returns; The most recent review was in October 2018, the rent increased to £1,860,691 per annum (£18.21 per sq ft) for Pinley HouseAcquisition and £404,522Oct per 2023 annum (£6.85Oct 2028 Yield per sq ft) for6.00% the Technical Ce6.81%ntre providing a7.95% total Cash on annualCash rent9.63% of £2,265,213. 11.46% 14.01% Oers are invited in excess of £xx,xxx,xxx, which For further information please refer to the Debt Financing and Potential Returns section of thesereflects marketing a net details initial yield of xx%, assuming standard purchaser’s costs of xx%, and a capital value of £xx per sq ft

Not to scale - for identification purposes only

06 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 07 DUMFRIES

DUMFRIES 6 Peugeot Motor Company PLC NEWCASTLE Peugeot Motor Company PLC 7 UPON TYNE CARLISLE SUNDERLAND LOCATION CARLISLE SUNDERLAND A1(M) HARTLEPOOL A1(M) HARTLEPOOL MIDDLESBROUGH M74 STOCKTON-ON-TEES MIDDLESBROUGH Coventry is located within the heart of the UK, it is the secondM7 largest4 city STOCKTON-ON-TEES EDINBURGH in the , behind . Its central location 20 miles south east of Birmingham and 100 miles north west of make it SCARBOROUGH highly appealing to a number of regional and national companies including Jaguar Land , National Grid, E.ON, Sitel, Sainsbury’s amongst others. SCARBOROUGH

HARROGATE A1(M) HARROGATE A1(M) YORK PICCADILLY BRADFORD MANCHESTER The city of Coventry is located at the centre of the UK’s LEEDS PICCADILLY national motorway network, lying just south of the M6 BRADFORD M62 (Junctions 2 and 3) and the M69 (Junction 1), east of the KINGSTON UPON HULL M62 4 hrs 40 mins M61 M62 SCUNTHORPE M42 (Junction 6), North of the M40 (Junction 15) and east BARNSLEY M180 4 hrs 40 mins of the M1 and M45 Motorways. Its central locationM61 provides M62 SCUNTHORPE BARNSLEY DONCASTER GRIMSBY M180 MANCHESTER fast access to the country’s full motorway network. GRIMSBY STOKE ON MANCHESTER DONCASTER TRENT STOKE ON LIVERPOOL TRENT Coventry lies within the southern edge of the UK’s M56 distribution ‘golden triangle’ making it a highly desirableM56 SHEFFIELD COLWYN BAY The city of Coventry is located at the centre 1 hr 57 mins location for businessesCOLWYN toBA Ylocate and benefit from regional, 1 hr 57 mins of the UK’s national motorway network, lying just south of the M6 (Junctions 2 and national and international accessibility. 1 hr 16 mins SKEGNESS 3) and the M69 (Junction 1), east of the M42 1 hr 16 mins SKEGNESS WREXHAM Lorem ipsumNOTTINGHAM (Junction 6), North of the M40 (Junction 15) BIRMINGHAM WREXHAM STOKE-ON-TRENT and east of the M1 and M45 Motorways. Its BIRMINGHAM Coventry’s railway station is located in the south of the STOKE-ON-TRENT AIRPORT AIRPORT city centre, CrossCountry, Avanti and M1 central location provides fast access to the M1 M6 run from the station providing national services to London M6 EAST country’s full motorway network. EAST BIRMINGHAM MIDLANDS KING’S LYNN Euston, Birmingham New Street, Bournemouth, Manchester MIDLANDS KING’S LYNN NEW STREET TELFORD Coventry lies within the southern edge of the Piccadilly via Stoke on Trent, and Edinburgh.TEL FORD 10 mins UK’s distribution ‘golden triangle’ making 10 mins M54 M42 BIRMINGHAM M54 M42 LEICESTER it a highlyPETERBO desirableROUGH location for businesses NORWICH 21 mins NEW STREET to locate and benefit from regional, national 21 mins is located to the south of Coventry centre, M1 M1 and international accessibility. BIRMINGHAM BIRMINGHAM A1(M) A1(M) and 3 miles south of the property, accessed via the A45/46. M6 M6 COVENTRY COVENTRY Thompsonfly operate from the airport providing flights to STATION COVENTRY STATION COVENTRY COVENTRY European destinations. Additionally, is NEWMARKET NORTHAMPTON NEWMARKET located approximately 12 miles to the north east of Coventry, Coventry’s railway station is located in via the A45, and provides both domestic and internationalWO RCESTER WORCESTER CAMBRIDGE BEDFORD IPSWICH the southBEDFOR ofD the city centre, CrossCountry, IPSWICH flights across Europe, the Middle East, India, North America Virgin and West Midlands trains run from and the . M40 M1 COLCHESTER M40 MILTONthe KEYNES station providing national services to 48 mins LUTON M1 COLCHESTER CHELTENHAM STEVENAGE 48 mins CHELTENHAM London Euston,LUTON Birmingham New Street, 1 hr 1 min STEVENAGE STANSTED GLOUCESTER 48 mins Bournemouth, Manchester PiccadillySTANSTED via A1(M) 48 mins M11 OXFORD Stoke on Trent,A1(M Nuneaton) M1 and1 Edinburgh. M25 CHELMSFORD M25 CHELMSFORD M40 M1 M40 M1 NEWPORT SWANSEA M25 SOUTHEND-ON-SEA M4 LONDON NEWPORT WATFORD READING Coventry airportLO isNDON located toM2 the5 southSOUTHEN D-ON-SEA M4 M25 HEATHROW READING M4 OXFORD JUNCTION LONDON A4 CARDIFF BRISTOL M4 of CovM2entr5 yHEA centre,THROW and 3 miles south of EUSTON BATH OXFORD A4 the property, accessed via the A45/46. WESTON-SUPER-MARE BASINGSTOKE BATH A37 MAIDSTONE Thompsonfly operate from the airport DOVER WESTON-SUPER-MARE BASINGSTOKE 2 hrs 46 mins A37 providing flights to European destinations. M3 ROYAL MAIDSTONE TUNBRIDGE WELLS 2 hrs 46 mins DOVER M3 Additionally, Birmingham airportRO isYA Llocated WINCHESTER FOLKESTONE TUNBRIDGE WELLS CRAWLEY approximately 12 miles to the north east TAUNTON WINCHESTER FOLKESTONE of Coventry, via theCRAA45,WLEY and provides both TAUNTON SALISBURY domestic and international flights across SOUTHAMPTON Europe, the Middle East, India, North America EASTBOURNE BRIGHTON and the Caribbean. BOURNEMOUTH EASTBOURNE BRIGHTON BOURNEMOUTH PORTSMOUTH NEWPORT EXETER BOURNEMOUTH NEWPORT M6 J2 3 MILESTO RQUAY 21 MINUTES BOURNEMOUTH Not to scale - for identification purposes only TORQUAY 12 MINUTES DRIVE COVENTRY AIRPORT BIRMINGHAM

PLYMOUTH NEW STREET

08 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 09 8 Peugeot Motor Company PLC Peugeot Motor Company PLC 9

10 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 11

NoNott to scaleto scale - for -identification for identification purposes purposes only only 10 Peugeot Motor Company PLC Peugeot Motor Company PLC 11 10 Peugeot Motor Company PLC Peugeot Motor Company PLC 11

10 Peugeot Motor Company PLC Peugeot Motor Company PLC 11

10 Peugeot Motor Company PLC Peugeot Motor Company PLC 11

10 Peugeot Motor Company PLC Peugeot Motor Company PLC 11 10 Peugeot Motor Company PLC Population One of the Peugeot Motor Company PLC 11 Population One of the One of the world’s 360,000, TOP 10 CITIES One of the world’s Population360,000, in the country forOne jobsTOP of growth, the 10 CITIES TOP 50 STUDENT 67% One TOPof the 50 world’s STUDENT Population patentsOne of granted thein the and country business for jobs growth, FRIENDLY CITIES 360,000,67% TOP 10 CITIES One of the world’s of working age TOPgrowth 10 CITIESover patentsthe past granted decade and business FRIENDLY CITIES 360,000, of working age in the country for jobs growth, TOP 50 STUDENT 67% in the country forOne jobsgrowth of growth, the over the past decadeTOP 50 STUDENT Population patents grantedOne and of thebusiness FRIENDLY CITIES 67%of workingPopulation age patents granted and business One of the world’s growth over the past decadeFRIENDLY CITIESOne of the world’s of working360,000, age growth over TOPthe past 10 decade CITIESTOP 10 CITIES 360,000, OVER 15 UNIVERSITIESTOP 50 STUDENT Population Coventryin the country votedin asthe for the country jobs growth, for jobs growth, TOP 50 STUDENT 67% 67% 8TH BEST CITY TO LIVE, within 2 hour drive of Coventry 371,500, over 67% patents grantedpatents and granted business and business FRIENDLYFRIENDLY CITIES CITIES of workingof working ageof working age age work andgrowth do business over the in past2018 decade Coventry ranks as the On average each firm in Coventry and Warwickshiregrowth overspent the past decade 6 MILLION PEOPLE OVER 15 UNIVERSITIES Coventry ranks as the On average each firm in Coventry and spent OVER 15 UNIVERSITIES8TH BEST CITY TO LIVE, £15,000 ON RESEARCH AND DEVELOPMENT, live within6 a MILLION1 hour PEOPLE within 2 hour drive of Coventry Coventry8TH BEST ranks asCITY the TO LIVE, On average£15,000 each firmON inRESEARCH Coventry and AND Warwickshire DEVELOPMENT, spent live within a 1 hour within 2 hour drive of CoventryworkCoventry and do ranks business as the in the UK On averagethat’s each firm more in than Coventry twice andthe UKWarwickshire figure of spent£6,800 drive6 MILLIONof Coventry PEOPLE OVER 15 UNIVERSITIES 6 MILLION PEOPLE drive of Coventry OVER 15 UNIVERSITIES 8TH workBEST and CITY do business TO LIVE, in the UK £15,000 ONthat’s RESEARCH more than twice AND the DEVELOPMENT, UK figure of £6,800 live within a 1 hour within 2 hour drive of Coventry8TH BEST CITY TO LIVE, £15,000 ON RESEARCH AND DEVELOPMENT, live within a 1 hour within 2 hour drive of 54,000Coventry STUDENTS work and£120 do business MILLION in the UK that’s more than twice the UK figure of £6,800 Coventry is in the drive of Coventry work and do business in the UK Onthat’s average more each than firm twice in theCoventry UK figure and Warwickshireof £6,800 spent drive of Coventry at two internationally Coventryinvestment ranks into as the the city centre’s On average each firm in Coventry and Warwickshire spent world’s top 50 Coventry ranks as the £15,000On ON average RESEARCH each ANDfirm DEVELOPMENT,in Coventry and Warwickshire spent 6 MILLION PEOPLE OVER 15 UNIVERSITIESOVERrenowned 15 UNIVERSITIES universities, public realm by the council before student friendly cities and6 MILLION PEOPLE 8TH BEST CITY TO LIVE, £15,000that’s more ON than RESEARCH twice the UK AND figure DEVELOPMENT, of £6,800 TOP 5 IN THElive UK within a 1 hour within 2 hour driveCoventry of and Coventry8TH becomes BEST the CITY UK’s TOCity LIVE, £15,000 ON RESEARCH AND DEVELOPMENT, live within a 1 hour within 2 hour drive of Coventry of Culture in 2021 drive of Coventry University work and do businesswork and indo the business UK in the UK Coventrythat’s city hasmore beenthat’s than twicemore thethan UK twice figure the UKof £6,800figure of £6,800 drive of Coventry Coventry city has been 75% OF ONE OF THE FASTEST 71,000 PEOPLE is within a 2 75%hour drive OF ENGLAND CoventryGROWING cityCoventry hasONE been PLACES cityOF has THE been FASTEST commute to Coventry71,000 PEOPLE is within a 2 hour drive commute to Coventry 75%time OF75% ENGLANDof Coventry. OF ENGLAND ONE OFoutside THEONE FASTEST of OF LondonGROWING THE for FASTEST PLACES 71,000 forPEOPLE work71,000 every dayPEOPLE time of Coventry. outside of London for for work every day is within isa 2within hour drive a 2 hour drive GROWINGa numberGROWING £9.6BNPLACES of years. PLACES 75%commute OF ENGLAND to Coventrycommute to Coventry 6 MILLION PEOPLE Coventry city hasa number been of years. time of Coventry.time of Coventry. outsideCoventry of Londonoutside totalCoventry for of GVA London city has for been is within afor 2 workhour driveevery time dayfor work every day live within a 1 hour drive in 2018 of Coventry. 75% OF ENGLAND75% ofOF Coventry ENGLAND aONE number OF of THE ayears.ONE number FASTEST OF of THE years. FASTEST 71,000 PEOPLE71,000 PEOPLE is within a 2 houris within drive a 2 hour drive GROWINGGROWING PLACES PLACES commutecommute to Coventry to Coventry time of Coventry.time of Coventry. for work everyfor work day every day Coventry is ranked outside of Londonoutside for of London for Coventry is ranked a number ofa years. number of years. £120 MILLION 54,000 STUDENTS 12TH UNIVERSITY investment into the £120city centre’s MILLION Coventry is ranked at two internationally54,000 renowned STUDENTS Coventry12TH is UNIVERSITY ranked £120public MILLION realminvestment by the council into the Coventry city centre’s city has been IN THE UK One of the TOP 10£120 CITIES MILLION 54,000universities, STUDENTS Coventryat two internationally University renowned 12TH UNIVERSITY71,000 PEOPLE public realm by theONE council OF THE FASTEST54,000 STUDENTS (The Guardian12TH UNIVERSITYUniversityIN THE UK investmentin the beforecountry intoinvestment Coventry forthe jobs city growth,centre’s becomesinto the city the centre’s universities, Coventry University commute to Coventry for before Coventry becomesatGROWING two internationally the andPLACESat Warwick two renownedinternationally University renowned IN THEGuide UK 2018)(The Guardian University patentspublic realmUK’s granted City bypublic andthe of Culturecouncilbusiness realm byin 2021.the council and Warwick University workIN THE every UK day UK’s City of Cultureuniversities,outside in 2021. of London Coventryuniversities, for University Coventry University (The GuardianCoventry University is rankedCoventryGuide is 2018) ranked beforegrowth Coventry over beforethe becomes past Coventry decade the becomes the (The Guardian University £120 MILLION£120 MILLIONa andnumber Warwick of years. Universityand Warwick University Guide 2018) UK’s City of CultureUK’s City in 2021. of Culture in 2021. 54,000 54,000STUDENTS STUDENTS 12TH UNIVERSITYGuide12TH 2018) UNIVERSITY investmentinvestment into the city into centre’s the city centre’s Source: Coventry Council at two internationallyat two internationally renowned renowned Source: Coventry Council IN THE UKIN THE UK public realmpublic by the realm council by the council Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeamuniversities, Way, Coventry Coventry University 12 before Coventry becomes theuniversities, Coventry13 University Source: Coventry Council (The Guardian(The University Guardian University before Coventry becomes the Source: Coventry Council and Warwickand WarwickUniversity University Guide 2018) Guide 2018) UK’s City ofUK’s Culture City ofin 2021.Culture in 2021.

Source: Coventry CouncilSource: Coventry Council 12 Peugeot Motor Company PLC Peugeot Motor Company PLC13

BIRMINGHAM AIRPORT Coventry Automotive Coventry and Warwickshire are the centre of the British 12 miles 4 miles automotive industry. Both historically and today the city has very strong links with the manufacturing industry and in 12 Peugeot Motor Company PLC particular the automotive sector. Peugeot Motor Company PLC13

2 miles 15 miles 12 Peugeot MoSITUATIONtor Company PLC COVENTRY COVENTRY AUTOMOTIVEPeugeot Motor Company PLC13 STATION 12 Peugeot Motor Company PLC Its origins trace back to the arrival of the in low carbon electric and hybrid powertrain Peugeot Motor Company PLC13 2 miles car in Europe over 120 years ago, the area technology, light-weighting and CAV 7.5 miles is home to 35 automotive and o -highway (Connected &Autonomous Vehicles). These motorway network. BIRMINGHAM 12 miles brands,Cov includingentr 12yvehicleAutomo manufacturingtiv eactivities are driven forward by investment AIRPORT sites, and 15 R&D centres, maintaining and from local car makers, leading university Pinley House and the Technical COVENTRY developing a unique mix of skills and supplyCoventry research, and a Warwickshireunique cluster of skills are and the access centre of the British BIRMINGHAM Coventry and Warwickshire are the centre of the British AIRPORT Covchainentr in automy otAutomoive design and tivengineeringe . to cutting edge innovation and technology. Centre sit on the former Stoke AIRPORBIRMINGHAMT 12 miles automotive industry. Both historically and today the city TheCov automoarea isentr particularlytivey Automoindustr strong in y.R&D Bo tivactivitthe y,historically and today the city has Aldermore manufacturing plant AIRPORT 4 miles Coventrveyry and strongWarw linksickshirewith arehasthe the manufacturingvery centre strong of linksthe industrBritish with the y andmanufacturing in industry and site in a prime location just outside 12 miles automoCovtiveentr industry and Way. Borwthickshire historicallyin particular are the and centre the today automotive of the the city British hassector. 12 miles 4 miles automoparticulartive industrthe automoy. Bothtive historically sector. and today the city has Coventry city centre. 4 miles very strong links with the manufacturing industry and in Its origins trace back to the arrival of the car in Europe over 120 years ago, the area Postcode: CV3 1ND 2 miles 15 miles very strong links with the manufacturing industry and in M6 particular the automotive sectois homer. to 35 automotive and off-highway brands, including 12 vehicle manufacturing The property is located approximately 1.5 miles to the COVENTRY 10% OF ALL UK south east of the city centre, accessed via the B4110 STATION particular the automotivesites, secto and r. 15 R&D centres, maintaining and developing a unique mix of skills and supply 2 miles 15 miles Its origins trace back to the arrivalchain of the in automotivein low design carbon and electric engineering. and hybrid The areapowertrain is particularly strong in R&D activity, Humber Road. The B4110 Humber Road connects COVENTRY 2 miles AUTOMOTIVE JOBS 2 miles 15 miles car in Europe over 120 years ago, inthe low area carbon technoloelectric andgy, hybridlight-weighting powertrain and technology, CAV light-weighting and CAV the property to the A444 London Road and the A46 STATION 7.5 miles COVENTRY Its originsis tracehome back to 35 to automothe arrivaltive of and the o -highwayin low carbon(Connected electric and &A hybridutonomous powertrainVehicles). These AUTOMOTIVE JOBS Coventry Bypass to the south and Binley Road A428 and J2 ARE IN COVENTRY & (Connected & Autonomous Vehicles). These activities are driven forward by investment motorway network. STATION 2 miles car in Europebrands, over including 120 years 12 agvehicleo, the area manufactur technoloing gy, activitieslight-weighting are driven and CA forVward by investment 12 miles S Its origins trace back to the arrival of thefrom localin car low makers, carbon leading electric university and hybrid research, powertrain a unique cluster of skills and access to A4600 to the north, which lead to the wider motorway 2 miles 7.5 miles S are in Coventry and A is homecar to in 35 Europe automo overtive 120 and yoears -highway ago, the area(C onnectedtechnolo &Agyutonomous, light-weightingVehicles). and These CAV P WARWICKSHIREsites, and 15 R&D centres, maintainingcutting andedge innovationfrom local and car technology. makers, leading university motorway network.network. 7.5 miles Y 12 miles COVENTRY B brands,is including developinghome to 3512 a automovehicle unique tivemanufactur mix and of oskills -highwaying andactivities supply (C onnected areresearch, driven &A for autonomous wardunique by clusterinvestmentVehicles). of skills These and access There is a major bus route running from just outside N Warwickshire motorway network. R AIRPORT E sites, andbrands, 15 R&Dincluding centres 12, vehiclemaintaining manufactur and ingfrom localactivities car mak areers, driven leading forward university by investment 12 miles T chain in automotive design and engineering. to cutting edge innovation and technology. the property. Services include the 16 and 16A which S COVENTRY A developingsites ,a and unique 15 mixR&D of centres skills and, maintaining supply research,and from a uniquelocal car cluster makers, of skillsleading and university access E The area is particularly strong in R&D activity, run into Coventry City centre and out to Warwickshire Y AIRPORT R COVENTRY T chain indeveloping automotive a uniquedesign mixand ofengineering skills and. supplyto cutting research, edge innovationa unique cluster and technolo of skillsgy and. access Shopping Park and the 26 route which runs to and from N H AIRPORT E The area is particularly strong in R&D activity, OL A444 V chain in automotive design and engineering. to cutting edge innovation and technology. YH O the UniversityE Hospital. D C AD R OA The area is particularly strong in R&D activity, (JLR) has D A4600 YR TS AN approximately 8,000 employees working Postcode: CV3 1ND across the region (Coventry, and HOLBROOKS M6 Postcode: CV3 1ND Castle Bromwich) this will increase by Postcode: CV3 1ND HOLBROOKS M6 circa 4,000 when their headquarters at HOLBROOKS M6 Whitley completes. COVENTRY J2 £150mAU isTO beingMO investedTIVE in the NationalJOBS

BINLEY J2 S AUTOAutomoMOTIVEtive Innovation JOBS Centre (NAIC) S are in Coventry and A P AUandTO its MOresearchTIVE activities JOBS andwill create S J2 Y S B are in Coventry and A

P the largest automotive R&D facility in COVENTRY N S Warwickshire Y R S B E are in Coventry and A T P Europe. ALLESLEY N Warwickshire STATION S R Y E A B ALLESLEYA45 T E S N Warwickshire Y A R R The London Taxi Company is building a A46 E E T ALLESLEY T Y N S R E H T A £250m plant just outside Coventry which O A444 V E LY N O H E Y E D C H A A444 A V R O D R O T will Jaguarcreate upLa ndto Rove1,000r( newJLR) jobshas . LY R O H A4600 N E D D Y C A A S E DH R ONT Jaguar Land Rover(JLR) has ODL WHITLEYA444 A4600 YRA V approximately 8,000 employees working YH TS D O EA AN A SS C approximatelyJaguarRolls La 8,000 Rond yceRove employ haver(JLR) anees hasextensiveworking D R RO A across the region (Coventry,Solihull and D A4600 SY P NT BY A N across approximatelythemanufacturing region (Covent 8,000ry plant,S employolihull justees andoutsideworking ER Castle Bromwich) this will increase by KE ST NP EA Castle acrossBromwich)Cove thent ryregion this in willAnsty(C oventincrease. ry,S byolihull and AS RY circa 4,000 when their headquarters at W NT circa 4,000 when their headquarters at AY VE Castle Bromwich) this will increase by O Whitley completes. C Whitleycirca completes. 4,000 when their headquarters at Y STONEBRIDGE HIGHWA Whitley completes. COVENTRY £150m is being£150m invested is beingin the investedNational in the National COVENTRY Automotive Innovation Centre (NAIC) BINLEYBINLEY Automo£150mtive Inno isvation being Ceinvestedntre (NAIC) in the National A46COVENTRY and its research activities andwill create BINLEY and itsAutomo researchtive activities Innovation andw Centreill create(NAIC) COVENTRY the largest automotive R&D facility in COCOVENTRVENTRY Y AIRPORT the largandest itsautom researchotive R&Dactivities facility an dwin ill create STSTATIONACOTIONVENTRY £150m £325mEurope.the largestEurope. automotive R&D facility in A45A45 Europe. STATION A46A46 The London TaxiThe Co Lmpanyondon isTaxi building Company a is building a Not to scale - for identification purposes only A45 A46 £250mThe plant London just£250m outsideTaxi plantCo mpanyCo ventjust ryisoutside whichbuilding Co avent ry which In September 2019 Jaguar £150m is being invested In March 2017 The Londonwill create£250m Rollsup towillplant Royce 1,000 create just have new outside up an jobsto extensive 1,000 Co. vent rynew which jobs . WHITLEYWHITLEY Land Rover opened its new in the National Automotive Taxi Company opened a new will manufacturingcreate up to 1,000 plant new just jobs. SS S Rolls Royce haveRo llsan Roextensiveyce have an extensive A S £600m HQ just 20 miles south Innovation Centre (NAIC) and £325m car plant in Coventry outside Coventry in Ansty. WHITLEY YP PA B Y S manufacturingRolls Ro yceplant have just an outside extensive RN B S manufacturing plant just outside K E RN PA of Coventry which is home to its research activities and will which specialises in the EK ST E Y NEP EA ST B Coventmanufacturingry in Ansty. plant just outside NA RY EA RN create the largest automotive manufacture of electric black Coventry in Ansty. PSAW K T Y E 13,000 engineers. SAE EN TR ST WYNP V N EA Coventry in Ansty. AYA O VE RY R&D facility in Europe. cabs S W C O T A C EN Y Y V A O STONEBRIDGE HIGHW Y C STONEB A RIDGE HIGHW Y STONEB A A46 RIDGE HIGHW A46A46 COVENTRY AIRPORCOCOVENTTVENTRYRY AIRPORAIRPORTT

Not to scale - for identification purposes only No14t to scaleNoPeugeot -t forto scaleidentification Motor- for identification Company purposes purposes only PLC only Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 15 DESCRIPTION

Pinley House and the Technical Centre were purpose built for Peugeot in 2006 and form the company’s UK headquarters.

The buildings were originally built as the UK headquarters for Peugeot but have more recently also become the UK headquarters for Citroen following the closure of its office in . Approximately 600 staff are permanently based on the site with a further 100 staff visiting daily for training purposes.

Pinley House is occupied as Peugeot’s office HQ with functions such as sales, marketing, parts & servicing, distribution, IT, HR, the retail group and Free2Move, the car leasing part of the business, all operating from this building. The Technical Centre is split into four sections; the Academy Training centre, Academy Workshop, Vehicle Workshop and the Body Shop.

PINLEY HOUSE TECHNICAL CENTRE

Pinley House is a Grade A office building, totalling 107,424 sq The Technical Centre sits on its own 6.5 acre site and is ft, that sits on a 7.45 acre site. The building is arranged over separated from Pinley House by the Humber Road, however basement, ground and two upper floors and is split into two the buildings are linked by an underground walkway. The wings; East and West. building, totalling 59,005 sq ft, is of steel portal frame construction with part profile metal cladding and blockwork The building, which is of steel frame construction under an walls and part translucen t roof panels. aluminium roof and clad with composite panels and extensive glazing, has been developed to an exceptionally high standard. The Technical Centre is split into four sections for separate On its south facing elevations the building has automatic functions of the business. The first is the Academy Training aluminium louvers, as well as Brise Soleil across all elevations, centre, this is the office based element and is spread over to manage solar gain. ground and first levels containing a number of meeting rooms, a small TV studio, a car showroom along with WCs and The office specification includes a 4 pipe fan coil air- reception. The Academy Training centre and the Academy conditioning system, full access raised floors, suspended Workshop are used as the training facility for all car sales ceiling with LG3 lighting, floor to ceiling glazing within the employees and vehicle maintenance staff across the country. office areas which provide excellent levels of natural light. In addition to customer servicing, Peugeot undertake servicing There are generous link areas between East and West wings on for a number of police constabularies across the UK including each floor which provide space for meeting rooms and break Derbyshire, Gwent and Greater Manchester. out areas. Additionally, the building has very good lift, WC and The perimeter of the site is secured with metal palisade fencing shower provisions throughout and an exceptional parking ratio together with an electrically operated security ramp at the of 1:190 sq ft. entrance to the site. There is a large concrete yard with an average depth of 90 • Four pipe fan coil air-conditioning metres together with a large car park which provides 423 car • Raised floors with 200mm clear void spaces for the site (20 of which are covered), an exceptional • 3m floor-to-ceiling heights parking ratio of 1:139 sq ft. • LG3 lighting The site has a very low developed density of 20.9%. • Three 10 person passenger lifts plus one 13 person passenger lift Male, female and disabled WCs on each floor • 8 – 11 metre eaves • Showers facilities on each floor • Six electrically operated roller shutter doors • Triple height feature reception • High level florescent strip lighting and ambi-rad heaters • Cafe and Restaurant facility • Concrete floor with plastisol finish • Gym facility • Office and training area • Basement storage • External car wash • Exceptional car parking ratio of 1:190 sq ft / 564 spaces • Exceptional car parking ratio of 1:139 sq ft / 423 spaces • racks At basement level there is a pedestrian walkway that links Pinley House and the Technical Centre via a landscaped garden area.

Due to the nature and layout of the site the buildings have the ability to be split and used as self-contained buildings in the future if so required.

16 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 17 PINLEY HOUSE

18 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 19 18 Peugeot Motor Company PLC PINLEY HOUSEPeugeot Motor Company PLC 19

GROUND FLOOR ACCOMMODATION GROUND FLOOR PinleyThe House property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and provides the following net internal areas.

ACCOMMODATION NIA (sq m) NIA (sq ft) IPMS3 (sq ft) The property hasSecond been Floor measured in accordance2,997.48 with the32,265 RICS Code 39,096 of Measuring Practice (6th Edition) and provides the following net First Floor 3,004.93 32,345 39,209 internal areas. Ground Floor 3,000.38 32,296 35,479 Floor Reception NIA Sq M 235.78NIA Sq Ft 2,538 IPMS 3 - Second FloorBasement 2,997.48 741.3632,265 7,980 xxx 8,134 NIA Total 9,979.93 107,424 121,918 First Floor 3,004.93 32,345 xxx

Ground FloorA copy of the3,000.38 measured survey report32,296 is available on thexxx data site Reception and a duty of care235.78 can be provided2,538 to the purchaser. xxx Basement 741.36 7,980 xxx Total SITE AREA9,979.93 107,424 xxx A copy of theThe measured Pinley Housesurvey site report totals is available7.45 acres on (3.01 the data ha). site and a duty of care can be provided to the purchaser. There are 564 car parking spaces providing an exceptional ratio of SITE AREA 1:190 sq ft. The Pinley House site totals 7.45 acres (3.01 ha). There are 576 car parking spaces providing an exceptional ratio of 1:190 sq ft.

FIRSTFIRST FLOOR FLOOR SECONDSECOND FLOORFLOOR

Not to scale - for identification purposes only Not to scale - for identification purposes only 20 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 21 TECHNICAL CENTRE

TECHNICAL CENTRE

22 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 23 22 Peugeot Motor Company PLC TECHNICAL CENTREPeugeot Motor Company PLC 23

ACCOMMODATION GROUND FLOOR TechnicalThe property Centre has been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and provides the following gross internal areas. GROUND FLOOR ACCOMMODATION GIA (sq m) GIA (sq ft) The property has been measured in accordance with the RICS Code of Measuring PracticeFirst Floor (6th Edition)Technical and provides Centre the following232.66 gross 2,504 internal areas. Academy 460.29 4,955 Total 692.95 7,459 Floor GIA Sq M GIA Sq Ft Ground Floor Technical Centre 3,922.40 42,220 Technical Centre Academy 232.66 866.372,504 9,326 1st Floor Academy Total 460.29 4,788.774,955 51,545 GIATotal Total 692.95 5,481.717,459 59,004 Technical Centre 3,922.40 42,220 Ground Floor A copyAcademy of the measured survey report866.37 is available 9,326on the data site and a duty of care can be provided to the purchaser. Total 4,788.77 51,546 Total GIA 5,481.71 59,005 A copy of the measuredSITE AREA survey report is available on the data site and a duty of care can be provided to the purchaser. The Technical Centre site totals 6.5 acres (2.63 ha). The site SITE AREA provides a very low density of 20.9%. The Technical Centre site totals 6.5 acres (2.63 ha). The site provides There are 423 car parking spaces providing an exceptional ratio of a very low density of 20.9%. 1:139 sq ft. FIRST FLOOR There are 423 car parking spaces providing an exceptional ratio of 1:139 sq ft.

FIRST FLOOR

Not to scale - for identification purposes only Not to scale - for identification purposes only

24 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 25 Covenant PEUGEOT MOTOR COMPANY PLC

TENANCY COVENANT

24 Peugeot Motor Company PLC Peugeot Motor Company PLC 25 Pinley House and the Technical Centre are let to Peugeot The 2018 reviewed rents are devalued as follows: PEUGEOT MOTOR COMPANY PLC Peugeot Motor Company Plc has a Dun & Bradstreet rating of Motor Company PLC by way of two separate leases on full 5A2. A summary of its financials are as follows; repairing and insuring terms with a lease expiry on 20th Pinley House PSA Group is a French multinational car and manufacturer and listed on the Euronext Paris stock exchange. December 2031 providing a unexpired lease term of 11.3 Offices £18.21 per sq ft 31 Dec 19 31 Dec 18 31 Dec 17 The brands sold under the PSA Group are Peugeot, Citroen, years without break. The leases are contracted inside the Reception £9.11 per sq ft (£0,000s) (£0,000s) (£0,000s) DS, Opal and Vauxhall. Of these brands Peugeot is the largest 1954 Landlord & Tenant Act. Basement £9.11 per sq ft Sales in Europe. The occupier, Peugeot Motor Company PLC is 1,770,896 1,707,356 1,539,692 Turnover TTheenancy rent for both buildings is reviewed every 5 years on Technical Centre £6.85 per sq ft Covenanta wholly owned subsidiary of PSA Group that operates the Peugeot UK and Citroen UK brands. Profit / (Loss) Pinleyan upwards House andonly the basis Technical in line Centre with areRPI let capped to Peugeot at 5% Motor and The 2018 reviewed rents are devalued as follows: PEUGEOT MOTOR COMPANY PLC 28,467 8,798 7,736 Companycollared atPLC 2%. by wayThe of most two recentseparate review leases was on full on repairing16th October and Peugeot have underlet the part first floor East wing to Ericsson Before Taxes Pinley House PSA Group is a French multinational car and motorcycle manufacturer Peugeot Motor Company PLC has a Dun & Bradstreet rating of 5A1, insuring terms with a lease expiry on 20th December 2031 providing PSA Group has announced various acquisitions across the 2018 with the determined rents being £1,860,691 for Pinley Limited on a 5 year sub-lease dated 3rd November 2016. The and listed on the Euronext Paris stock exchange. The brands sold representingTangible ‘minimal Net risk’. For the last 3 years Peugeot Motor a unexpired lease term of 13 years without break. The lease is Offices £18.21 per sq ft globe dating back to the 1970s where Citroen and Chrysler 199,285 153,889 186,397 House and £404,523 for the Technical Centre. sub-tenant has a break option dated 2nd November 2018 under the PSA Group are Peugeot, Citroen, DS, Opal and Vauxhall. Of CompanyWorth PLC have been showing a turnover of approximately £1.5 contracted inside the 1954 Landlord & Tenant Act. Reception £9.11 per sq ft Europe were brought into the group. Today the group owns the which has not been exercised. these brands Peugeot is the largest in Europe. The occupier, Peugeot billion Netwith Currenta pre-tax Assets profit of £8.6 million during 2016 and £9.5 Basement £9.11 per sq ft brands Peugeot, Vauxhall, Opel, DS Automobiles and Citroen. 111,937 119,797 82,017 The rent for both buildings is reviewed every 5 years on an upwards Motor Company PLC is a wholly owned subsidiary of PSA Group that million(Liabilities) during 2015. only basis in line with RPI capped at 5% and collared at 2%. The Technical Centre £6.85 per sq ft operates the Peugeot UK and Citroen UK brands. A summary of their financial accounts is set out below: most recent review was on 16th October 2018 (to be finalised). The On 31 October 2019 PSA Group announced its intent to Peugeot have underlet the part first floor East wing to Ericsson PSA Group has announced various acquisitions across the globe, back reviewed figures on this basis will be £1,860,691 per annum for Pinley merge with Fiat Chrysler Automobiles on a 50-50 all stock Limited on a 5 year sub-lease dated 3rd November 2016. The sub- in the 1970s these included the acquisition of Citroen, leading to the 31 Dec 2017 31 Dec 2016 31 Dec 2015 House and £404,522 per annum for the Technical Centre, a total basis. This $50BN merger is expected to conclude in Q1 2021 tenant has a break option dated 2nd November 2018 which has not creation of PSA Group, as well as the purchase of . (£000s) (£000s) (£000s) annual income of £2,265,213 with the merged company to take the name ‘’Stellantis’’. The been exercised. In mergermore recent will yearsadd brands PSA created such anas allianceFiat, Chrysler, with General Alfa RomeoMotors, and Sale Turnover 1,539,692 1,524,243 1,541,934 who became their second largest shareholder after the Peugeot Profit / (Loss) Before Jeep to PSA’s already strong line up. Once concluded Stellantis 7,736 8,684 9,576 family.will beIn 2013the fourthGM announced largest carit was maker selling in itsthe 7% world stake by in volume.PSA Taxes Group, subsequently the French government took a 14% stake in the Tangible Net Worth 186,397 243,313 172,991 company and ’s Dongfeng Motors took a further 14%. TENURE Net Current Assets 82,017 75,057 73,005 Last year Peugeot acquired the Opal and Vauxhall brands from (Liabilities) General Motors, this acquisition included GM’s European finance operations and meant PSA Group have become the second largest car Tenure manufacturer in Europe, behind VW Group.

HUSSAR COURT Freehold (Title (Title Number: Number: WM924875) WM924875)

227 39

49 1 El Sub SUNBEAM WAY 201 Sta

72.5m

225 Breton Court

HUMBER ROAD 25 to 1 213

2

1 to 8

Carter House 4

WAY El Sub Technical Centre Sta

PALADINE Mast (Telecommunication)

Nursery 16

Humber Road

24

Sub

way

El Sub Sta

34

Calverly Court o28 to 1

Pinley House Pavilion

Playing Field

SL

MP 0.75

PINLEY GARDENS

NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100024244 Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed. Pond 82.9m

NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100024244 Savills (UK) Ltd. 82.6m 26 Peugeot MotorNOTE:- PublishedCompany for the PLC purposes of identification only and although believed to be correct accuracy is not guaranteed. Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 27 DEBT FINANCING & POTENTIAL RETURNS

We have consulted with the CBRE Debt and Structured Finance team to ascertain the likely debt terms that would be available for the property. Given the excellent credit of the tenant, income length and guaranteed rental performance we believe the opportunity would be attractive to a number of different lenders.

Indicative Financing Terms

LTV 50-55% 60-65% Term 5 yrs 5 yrs Margin 225 - 275 bps 275 - 350 bps Upfront Fee 100 bps 125 bps Amortisation Nil Nil 5 year swap 30 bps 30 bps

Cash on Cash Returns Adopting the above debt terms the property would provide an investor with excellent cash on cash returns;

Acquisition Oct 2023 Oct 2028 Yield 6.00% 6.81% 7.95% Cash on cash 50% LTV 8.96% 10.47% 12.59% Cash on cash 60% LTV 9.63% 11.46% 14.01%

Assumptions;

• Finance terms renew on same basis • RPI linked rent reviews based on 3.13% annualised, in line with the Bank of England implied inflation curve accurate as at 13 Aug 2020 • 50% LTV cash on cash adopts 225 bps margin • 60% LTV cash on cash adopts 275 bps margin

28 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 29 OCCUPATIONAL MARKET

OFFICE MARKET INDUSTRIAL MARKET Coventry is the second largest office market in the West Midlands after Birmingham. Its central location in the UK and excellent The UK logistics market saw Q2 2020 register the highest quarterly take-up figures on record for accommodation of 100,000 sq connectivity has attracted a number of high profile occupiers to the city, from the automotive sector, to business services, and ft and above, with total take-up of 12.78m sq ft compared with 7.83m sq ft in Q2 2019. Following a robust Q1, the total take- increasingly technology and media industries. The office market totals approximately 5.5m sq ft, with an overall vacancy rate up for H1 2020 reached 19.06m sq ft, 44% higher YoY and 5% higher than the previous record of H1 2018. ​ equating to just 4.0%. The loss of obsolete office space has kept the 5 year average vacancy rate below 5%. In particular there is extremely restricted supply of Grade A accommodation, with no planned speculative development. The only new construction At a sector level, online retail continues to account for the largest proportion of take-up at 39.6% in H1. A number of national underway is 70,000 sq ft at Ansty Park, which is fully pre-let to IPG Photonics. The limited supply of high quality space in the occupiers are currently reshaping their warehouse and supply chain operations, as a result of a shift in shopping habits following local market has encouraged the refurbishment of existing buildings to meet demand, including most recently CEL House at the lockdown restrictions. Representation from the other sectors was shared evenly, with Third-Party Logistics accounting for , which achieved rents of £18.00 per sq ft. 16.5%, general retail at 14.9%, food retail and the food industry at 13% and post & parcels at 9%.

In 2019 take up reached 215,000 sq ft, broadly in line with the 10 year average of 250,000 sq ft. Occupier demand in the The Midlands had an extremely strong 2019 with take-up reaching 14.5m sq ft, accounting for approximately 55% of UK take- area is heavily focused on the out of town business parks due to the availability of higher quality office space and favourable up. 2020 has followed a similar trend with take-up in the Midlands year to date reaching 6.75m sq ft, approximately 35% of parking provisions. The exception to this is Friargate, which is a major focus of regeneration and mixed use development in the the UK total. With more of a focus on manufacturing and the automotive industry, it is anticipated that the West Midlands will heart of the city centre. In 2017, One Friargate achieved £22.50 per sq ft with its letting to , then more see an increase in activity in H2 as production facilities and assembly lines are re-opened. recently attracting Homes England to the building at the same rent, bringing a further 400 jobs to the city. Headline rents out of town have remained stable over the last few years at around £18.50 per sq ft. Rental tones across the wider regions key sub- Located within the ‘Golden Triangle’, Coventry is at the heart of both the UK’s manufacturing and distribution markets with 10% markets continue to experience upward pressure with Birmingham city centre now at £37.00 per sq ft and the M42 corridor at of the automotive sector’s employment located there. This includes the global headquarters for Jaguar Land Rover. The strong £26.00 per sq ft (achieved at Blythe Valley Park). labour supply, booming residential development market and affluent demographic make Coventry a sought-after location for occupiers and investors alike. Notable occupiers that have recently committed to the wider region include DHL Supply Chain The table below highlights a number of recent leasing transactions. Ltd, Parts Alliance Group Ltd and .

Date Address Tenant Term Area Passing Rent A schedule of comparable letting evidence is outlined below: (sq ft) (psf) Jan- Welland House, Adient Seating 10 years Date Address Tenant Term Area Passing Rent 7,610 £18.50 2020 Westwood Business Park, Coventry UK Ltd (5 year break) (sq ft) (psf) Mar- Creavo Medical Feb- 10 years CEL House, Westwood Heath, Coventry 10 years 8,983 £17.80 Vespa Point, Prologis Park, Coventry Network Rail 59,000 £6.93 2019 Technologies 2020 (5 year break) Nov- 10 years Dec- Nicholls House, Homer Close Wood Plc 7,857 £18.50 Connexion, Blythe Valley Park Evac Chair 15 years 38,223 £8.00 2018 2019 Oct- Sep- 10 years K2, Warwick Technology Park Wolseley UK Ltd 10 years 32,912 £20.00 Bermuda Park, Coventry Park Sheet Metal 35,000 £6.95 2018 2019 (5 year break) Aug- 10 years Dolomite Avenue, Coventry Business Park SES Engineering 59,355 £6.75 2019 (5 year break) May- Carbon 103, Siskin Parkway, Coventry World of Books 10 years 103,000 £6.23 2018

30 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 31 INVESTMENT MARKET

OFFICE INVESTMENT MARKET INDUSTRIAL INVESTMENT MARKET The strong momentum experienced in Q1 2020 was halted by the emergence of Covid-19. Whilst transactions continued to progress to Despite general uncertainty, the industrial market has remained resilient over the first half of the year. conclusion overall volumes understandably reduced significantly. The occupational market saw record take up in Q2 2020. This has fed into the investment market and at the end of H1, It is particularly noteworthy that the least impacted investments, have been longer income assets let to secure tenants, which are still investment volumes for the first half of the year stood at £2.13bn, which was equal to H1 2019. Almost 40% of all transactions achieving premium pricing. Since the beginning of UK’s exposure to the Covid-19 crisis, the few transactions that the office market has were for distribution assets. The South East and combined attracted 65% of the total investment volumes. seen complete have generally been secure, longer-let income investments. The first quarter saw the majority of transactions taking place, with the start of the second quarter seeing a slowdown in activity, Whilst sentiment looks to be improving for Q4 2020, the ability to acquire a long let, HQ asset with guaranteed income performance as many investors adopted a ‘wait and see’ approach. This was a common theme across the entire market. Over the past few such as the Peugeot HQ is highly attractive. The ability to leverage debt will ensure market leading returns for such a highly secure weeks however here has been an increase in the amount of stock coming to the market. investment. Yields have remained stable throughout the year however there has been a notable increase in the number of investors targeting prime assets with 10+ years of income.

Date Town / Price NIY Cap Val Area Tenant AWULT Passing Rent Vendor Purchaser Address (psf) (sq ft) (years) (psf) Date Town / Tenant Rent pa Price NIY WAULT Purchaser Address (psf) (years) Coventry LCN Jun- AAH £1,467,728 XLB, Sapphire Court, £22,200,000 6.20% £242 91,733 12.20 Capital Jun- Coventry £418,684 2020 Limited (£16.00) Harbert Network Rail £7.98m 5.25% 5.00 Leftfield Paradise Way Partners 2020 Vespa Point, Prologis Park (£6.95)

Honeywell Bracknell £1,870,401 LCN Coventry Apr- Control Dec- Walkers £1,312,095 Honeywell £32,925,000 5.32% £453 72,604 10.73 (£25.93) L&G Capital Walkers, Middlemarch £25.0m 4.90% 11.00 Private Investor 2020 Systems 2019 Snack (£5.78) House Partners Business Park Limited Dec- Northampton Royal Mail, £1,309,048 Royal Mail £26.4m 4.63% 10.00 Royal London May- Leicester £2,300,000 BA Pension 2019 Swan Valley (£6.47) £45,422,000 4.70% £123 368,000 Next 25.00 Next 2020 Next HQ (£6.25) Fund Aug- Wakefield Puma, £1,490,607 Puma £30.35m 4.60% 10.00 Equites Oxford BA 2019 Castleford (£5.75) Jan- £4,131,519 Brockton Seacourt £81,300,000 4.72% £911 89,226 Multi-let 8.60 Pension 2020 (£23.42) Capital Tower Fund Jun- Birmingham £628,194 Primaflow £12.48m 4.71% 10.00 Private Investor 2019 Primaflow (£6.25) Chertsey Dec- Samsung HQ, £3,250,000 Astellas Knight £60,000,000 4.75% £627 95,588 Samsung 15.00 2019 Hillswood (£34.00) Pharma Frank IM Business Park

32 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 33 FURTHER INFORMATION

VAT PROPOSAL Offers are invited in excess of £35,360,000, which reflects a The property is elected for VAT and as such, VAT will be net initial yield of 6.00%, assuming standard purchaser’s costs payable on the purchase price. It is anticipated that the sale of 6.77%, and a very low capital value of £212 per sq ft. will be treated as a TOGC. A purchase at this level provides the following, excellent cash on cash returns; EPC Acquisition Oct 2023 Oct 2028 Pinley House C (55) Yield 6.00% 6.81% 7.95% Technical Centre B (50) Cash on Cash 9.63% 11.46% 14.01% The Energy Performance Certificates for each building are available on the dataroom. For further information please refer to the Debt Financing and Potential Returns section of these marketing details

CAPITAL ALLOWANCES CONTACT Further information is available on request. For further information or to arrange an inspection, please contact: MARKETING DATAROOM James Delliere Further technical, planning and legal information relating to the E: [email protected] property is available in a secure data room, access to the data M: +44 (0)7818 017 683 room is available on request. Mike Buer E: [email protected] M: +44 (0)7768 278 954

Nick Woodward E: [email protected] M: +44 (0)7983 329642

Tom Nock E: [email protected] M: +44 (0)7375 321631

34 Peugeot Motor Company PLC Pinley House and Technical Centre, 2 Sunbeam Way, Coventry 35 Peugeot Motor Company PLC PINLEY HOUSE & TECHNICAL CENTRE COVENTRY

www.cbre.co.uk 020 7182 2000

DISCLAIMER: For the avoidance of doubt the appraisals provided within this document do not constitute a formal valuation and cannot be relied upon as such. This document is intended for indicative purposes only and may not be construed as contractual. All information contained in this document, has been provided to CBRE who accepts no responsibility for its accuracy. Verification of the information herein remains the responsibility of the recipient. Any values or dates provided herein are subject to change with prevailing market conditions and may not be relied upon, for any other reason than that which they have been produced for, including but not limited to financial statements or formal valuations. The information contained herein is communicated on the understanding that it remains confidential. It may not be disclosed to any third party without prior approval by the principal or by CBRE.