SEVENTYSIX WARDOUR / SEVENTYSIX WARDOUR SOHO / LONDON

THE OPPORTUNITY 2

SOHO – THE LOCATION 4

SOHO – THE CENTRAL VILLAGE 10

SOHO – NEIGHBOURS 12

EVOLVING SOHO 14

SOHO – COMMUNICATIONS & CROSSRAIL 16

THE BUILDING 18

THE BUILDING – OFFICE 22

THE BUILDING – RETAIL & RESTAURANTS 24

ACCOMMODATION & FLOORPLANS 26

SUMMARY SPECIFICATION 30

TENURE & TENANCY 32

COVENANTS 34

MARKET COMMENTARY 36

MORE INFORMATION 38 THE OPPORTUNITY

INVESTMENT HIGHLIGHTS

– HIGHLY REVERSIONARY MIXED-USE MULTI-LET INVESTMENT – HIGHLY VALUABLE A3 LATE LICENSE IN CENTRAL LONDON OPPORTUNITY – BREEAM RATING ‘VERY GOOD’ – FREEHOLD – FULLY LET TO A DIVERSE TENANT BASE PRODUCING A RENTAL – PROMINENT CORNER BUILDING FRONTING INCOME OF £3,346,405 PER ANNUM (INCLUDING A VENDOR TOP AND IN THE HEART OF SOHO UP OF THE FIXED UPLIFT ON SECOND FLOOR)

– LESS THAN FIVE MINUTES WALK FROM THE NEW ELIZABETH – 68% OF INCOME FROM OFFICE ACCOMMODATION, 32% FROM LINE (CROSSRAIL) WESTERN TICKET HALL ON RESTAURANT AND RETAIL UNITS

– SOHO HAS THE FINEST AMENITY PROVISION IN CENTRAL LONDON – GRADE A OFFICE RENTS IN SOHO HAVE RECENTLY ACHIEVED £102.50 PSF COMPARED WITH THE AVERAGE PASSING RENT ACROSS – AREA SET TO FURTHER BENEFIT UPON THE DELIVERY OF THE WEST THE OFFICE SPACE OF £69.59 PSF (BASED ON VENDOR TOP-UP) END PROJECT – OPPORTUNITY TO REALISE A SIGNIFICANT INCREASE IN RENTAL – PROPERTY PROVIDES A TOTAL OF 51,136 SQ FT (4,750.6 SQ M) OF INCOME ACROSS THE GROUND FLOOR A3 UNITS WITH CURRENT OFFICE, RETAIL AND RESTAURANT ACCOMMODATION LET TO FOUR RENTS PASSING AT BETWEEN £90 - £100 PSF ON BEST SPACE. OFFICE TENANTS AND THREE RETAIL / RESTAURANT TENANTS A3 RENTS IN SOHO ARE CURRENTLY IN EXCESS OF £150 PSF ON BEST SPACE – OFFICES COMPREHENSIVELY REFURBISHED IN 2013 TO GRADE A SPECIFICATION – RENT REVIEWS WELL TIMED TO CAPTURE FORECAST RENTAL GROWTH BETWEEN 2017-2019 – HIGH QUALITY OFFICE ACCOMMODATION TOTALLING 33,585 SQ FT (3,120.1 SQ M) OVER GROUND AND FIVE UPPER FLOORS WITH – ALL OFFICE RENT REVIEWS IN 2019 COINCIDE NEATLY WITH THE TERRACES AT EACH UPPER LEVEL DELIVERY OF CROSSRAIL

– ONE RETAIL UNIT OVER GROUND FLOOR AND TWO RESTAURANT – WAULT OF 9.93 YEARS TO TERM CERTAIN UNITS OVER LOWER GROUND AND GROUND FLOORS TOTALLING 17,551 SQ FT (1,630.5 SQ M) – OFFERS ARE INVITED FOR THE FREEHOLD INTEREST

2 SOHO – THE LOCATION

CÔTE BRASSERIE, WARDOUR STREET SOHO – THE LOCATION SEVENTYSIX WARDOUR

WARDOUR STREET, THE HEART OF THE WEST END AND ONE OF CENTRAL LONDON’S PREMIER ADDRESSES

Wardour Street is located in the heart of Soho, one of London’s premier business and entertainment addresses, characterised by its high quality office, retail and leisure provisions. Soho has traditionally been the epicentre of London’s media industry, attracting major occupiers such as M&C Saatchi, Bartle Bogle Hegarty,

Twentieth Century Fox, NBC Universal, Twitter, Warner Music, Spotify 1 2 and Snapchat. The creative industries are fast growing and increasingly corporate and finance occupiers are seeking a presence in Soho as an alternative base to St James’s and Mayfair, attracted by the array of amenities and highly appealing working environment for a younger more dynamic workforce. Corporate and financial occupiers include Diageo, Och-Ziff, Telefonica, Carval Investors, Sony Computer Entertainment and Zebedee Capital.

3 4 1

5 6 4 5

2 1. KINGLY COURT 2. WOOLRICH, 7 3. LIBERTY, 4. 5. PRINCI, WARDOUR STREET 1. BLACKS PRIVATE MEMBERS CLUB, DEAN STREET 2. L’ESCARGOT, 3. FERNANDEZ & WELLS, BEAK STREET 4. 3 5. ALBAM, BEAK STREET 6. RAPHA, BREWER STREET 7. PAUL SMITH, BEAK STREET

6 7 SOHO – THE LOCATION SEVENTYSIX WARDOUR

2

2

3

1 4 1 3

5

6 8

1. NUDIE JEANS, D’ARBLAY STREET 1. SOHO HOTEL, FLAXMAN COURT 2. BREWER STREET RETAIL 2. OLIVER SPENCER, BERWICK/LIVONIA STREET 4 3. THE , GREEK STREET 3. THE GROUCHO CLUB, DEAN STREET 4. APC, LEXINGTON STREET 4. WAHACA, WARDOUR STREET 5. HAM YARD HOTEL 5. COPITA, D’ARBLAY STREET 6. THE UNION CLUB, GREEK STREET 6 7 6. 5 7. MEARD STREET 8. SOHO HOUSE, DEAN STREET

8 9 SOHO – THE CENTRAL VILLAGE SEVENTYSIX WARDOUR

SEVENTYSIX WARDOUR

TOTTENHAM COURT ROAD STATION Tottenham Court Road station is undergoing a major transformation ahead of the arrival of the Elizabeth Line (Crossrail) in 2018 which will

OXFORD make it one of London’s busiest transport hubs. CIRCUS MAYFAIR FITZROVIA BLOOMSBURY

OXFORD STREET

REGENT STREET WESTERN TICKET HALL Situated at the junction between Dean Street and to provide a direct gateway into Soho from Tottenham Court Road underground station.

SOHO SQUARE TOTTENHAM COURT RD

EASTERN TICKET HALL WARDOUR STREET Situated at the crossroad between Oxford Street, New Oxford Street, Tottenham Court Road and , the eastern ticket hall will be six times larger than its original size. Bright glazed entrances together with station lighting reinforce the station’s prominence alongside Centre Point and the new public plaza.

CHARING CROSS ROAD

SHAFTESBURY AVENUE

COVENT GARDEN ST JAMES’S

11 SOHO – NEIGHBOURS SEVENTYSIX WARDOUR

RESTAURANTS & BARS LOCAL OCCUPIERS

1 ANDREW EDMUNDS 1 BANK OF EAST ASIA 2 ARBUTUS 2 BETGENIUS 3 COPITA 3 CINESITE SOHO STREET 4 DUCK AND RICE 4 TWITTER 5 BARRAFINA 5 GENERATION INVESTMENT MANAGEMENT OXFORD STREET 6 LA BODEGA NEGRA 6 GHD 7 BOB BOB RICARD 7 ZEBEDEE CAPITAL 8 BOCCA DI LUPO 8 HKS ARCHITECTS 9 BONE DADDIES 9 INGENIOUS MEDIA HOLLEN STREET SOHO 10 BURGER & LOBSTER 10 KAO BRANDS

HILLS PLACE SQUARE 21 2 11 JACKSON & RYE 11 M&C SAATCHI 3 12 CEVICHE 12 NATIONAL MAGAZINE COMPANY RAMILLIES STREET NOEL STREET 16 6 13 THE FRENCH HOUSE 13 NIKE RAMILLIES PLACE CARLISLE STREET 14 MILK AND HONEY 14 PALANTIR TECHNOLOGIES SHERATON STREET 14 13 15 DEAN STREET TOWNHOUSE 15 SALAMANDER ENERGY WARDOUR MEWS 8 MANETTE STREET 22 16 DUCKSOUP 16 SONY 16 D’ARBLAY STREET 13 CHARING CROSS ROAD 17 FERNANDEZ & WELLS 17 SPOTIFY ARGYLL STREET 1 2 GREAT MARLBOROUGH STREET 3 17 6 18 GAUTHIER SOHO 18 TAG WORLDWIDE 19 19 23 HIX TECHNICOLOUR CREATIVE SERVICES POLAND STREET 6 14 20 HONEST BURGER 20 TELEFÓNICA 17 21 21 22 RICHMOND MEWS 4 L’ESCARGOT WASSERMAN MEDIA GROUP SOHO 17 GREEK STREET 2 2 DEAN STREET 28 22 22 21 BLIND PIG 20TH CENTURY FOX 14 27 BATEMAN STREET 11 23 NOPI 23 OCH-ZIFF DUCK LANE 15 5 12 24 YAUATCHA 24 BARTLE BOGLE HEGARTY 30 18 WARDOUR STREET 25 TAPAS BRINDISI 24 6 25 15 26 POLPETTO 20 16 MOOR STREET FOUBERT’S PLACE 4 RETAIL 10 27 PRINCI

5 INGESTRE PLACE 26 10 28 QUO VADIS 1 3 1 NUDIE JEANS MEARD STREET 29 RANDALL & AUBIN 1 2 HOPKINS STREET HUGO BOSS 9 SEVENTYSIX WARDOUR 30 SOCIAL EATING HOUSE 3 MARSHALL STREET 17 CAMISA & SON 12 2 4 RAPHA CARNABY STREET 26 17 19 18 10 11 ROMILLY STREET PRIVATE MEMBERS CLUBS 5 DIESEL PETER STREET 13 9 7 6 OLIVER SPENCER 24 KINGLY STREET BEAK STREET 29 1 THE GROUCHO CLUB 7 WOOLRICH 19 7 LEXINGTON STREET 1 15 12 3 2 SOHO HOUSE 8 WOLSEY UPPER JAMES STREET 7 3 9 GREAT PULTENEY STREET BLACKS A.P.C. 15 RUPERT STREET 4 THE UNION CLUB 10 JOHN PEARSE BRIDLE LANE 5 5 11 LIBERTY UPPER JOHN STREET CENTURY CLUB

11 6 THE HOUSE OF ST BARNABAS 12 LINA STORES 13 MILROYS OF SOHO 23 14 PAUL A YOUNG FINE CHOCOLATES GREAT WINDMILL 8 LOWER JAMES STREET HOTELS GOLDEN 15 ALBAM SQUARE BREWER STREET 16 SIR TOM BAKER ARCHER STREET 1 HAM YARD HOTEL 17 SPACE NK STREET WARWICK STREET 2 SOHO HOTEL 9 18 LOWER JOHN STREET WHOLE FOODS 19 19 PAUL SMITH 1 8 7 20 4 4 5 18 LEICESTER SQUARE

13 EVOLVING SOHO SEVENTYSIX WARDOUR

MAJOR NEW WEST END DEVELOPMENTS

1 2 3

BLOOMSBURY FITZROVIA

1 OXFORD STREET, W1 NIMAX, CHARING CROSS ROAD, W1 ST GILES CIRCUS, W1 8 6 Developer: Derwent / Crossrail Developer: Derwent Developer: Consolidated Developments 1 2 7 3 Use: Office / Retail Use: Office / Retail / Theatre Use: Retail / Hotel / Leisure / Residential Area: 241,000 sq ft Area: 86,000 sq ft commercial space Area: 103,500 sq ft (commercial element) Completion: 2020 and a new 350 seat theatre Completion: 2020 EASTERN TOTTENHAM TICKET HALL COURT RD Completion: 2019 4 (2018) WESTERN TICKET HALL (2018) 4 5 6 OXFORD CIRCUS

5 SOHO 73-93 OXFORD STREET AND SOHO WORKS, ORIANA, 18-24 OXFORD STREET, W1 9 1 DEAN STREET, W1 54 GREAT MARLBOROUGH STREET, W1 – PHASE 2 Developer: Great Portland Estates Developer: Amazon Properties Developer: Land Securities / Frogmore Use: Office / Retail Use: Offices / Retail / Residential / Hotel Use: Retail / Residential Area: 91,000 sq ft Area: 80,500 sq ft Area: 76,500 sq ft (commercial element) Completion: 2017 Completion: 2017 Completion: 2020 SEVENTYSIX WARDOUR

7 8 9

LEICESTER SQUARE

COVENT ONE RATHBONE PLACE, W1 ST LAWRENCE HOUSE, Developer: Great Portland Estates 26-30 BROADWICK STREET, W1 MAYFAIR GARDEN Use: Offices / Retail / Residential Developer: Great Portland Estates Area: 412,000 sq ft Use: Offices / Retail / Residential Tenant: 227,000 sq ft pre-let to Area: 84,000 sq ft Facebook on a 20 year lease Completion: 2016 Completion: 2017

PICCADILLY CIRCUS CENTRE POINT, WC1 Developer: Almacantar Use: Luxury Residential / Retail Area: 292,500 sq ft ST JAMES’S Completion: 2017

10 MINUTE WALK TIME

15 SOHO – COMMUNICATIONS & CROSSRAIL

A PRIME OFFICE, RETAIL AND LEISURE DESTINATION WITH UNRIVALLED CONNECTIVITY TO CENTRAL LONDON AND THE SOUTH EAST

Soho benefits from excellent transport connectivity both within central Crossrail is Europe’s largest infrastructure project and is set to provide a London and further afield. Nearby London Underground stations include new high frequency, high capacity railway servicing 40 stations to improve Tottenham Court Road (Central and Northern lines), Oxford Circus (Central, the east/west link for London and the South East. As a result Crossrail Victoria and Bakerloo lines), Leicester Square (Northern and will increase rail capacity in London by 20% with an estimated 200 million lines), Covent Garden (Piccadilly line) and Charing Cross (Bakerloo and passengers using the new Elizabeth line each year. During peak travel Northern lines and National Rail services) which are all within 10 minutes times, 24 trains are scheduled to run each hour, making central London walk of the subject property. even more accessible. The area is also served by numerous bus routes that run along Oxford Tottenham Court Road is set to become the dominant transport hub in the Street to the north, Regent Street to the west and Shaftesbury Avenue West End, overtaking Oxford Circus. Passenger numbers passing through to the south. the station are forecast to rise from the current 150,000 per day to over 200,000 per day. Longer term, the station is also set to become the only CROSSRAIL interchange between Crossrail 1 and Crossrail 2, the second phase of Tottenham Court Road London Underground station, just five minutes the network, due for completion in 2030. walk from the property, will benefit from the arrival of the Elizabeth line This will continue to establish the area’s importance as a top West (Crossrail) in 2018 and is currently undergoing a £1 billion transformation. End destination.

SHENFIELD BRENTWOOD HAROLD WOOD SEVENTYSIX WARDOUR GIDEA PARK ROMFORD CHADWELL HEATH LIVERPOOL STREET GOODMAYES SEVEN KINGS PADDINGTON TOTTENHAM Northern HAYES & HARLINGTON Circle COURT Central ILFORD EALING BROADWAY Hammersmith ROAD Circle MANOR PARK WEST DRAYTON Northern Hammersmith & City WEST EALING & City FOREST GATE SOUTHALLHANWELL Bakerloo Central Metropolitan ACTON MARYLAND STRATFORD

IVER BOND STREET FARRINGDON WHITECHAPEL LANGLEY Central Circle Hammersmith & City CANARY WHARF SLOUGH Jubilee Hammersmith & City District Metropolitan Overground BURNHAM TAPLOW CUSTOM HOUSE (FOR EXCEL) MAIDENHEAD HEATHROW WOOLWICH TWYFORD TERMINALS 2 & 3 READING HEATHROW ABBEY WOOD TERMINAL 4

16 CROSSRAIL EASTERN TICKET HALL THE BUILDING

WARDOUR STREET ENTRANCE THE BUILDING SEVENTYSIX WARDOUR

A PROMINENT CORNER BUILDING ON ONE OF SOHO’S PREMIER STREETS

The property was originally constructed between 1906-1908 and comprises Each of the upper floors has the benefit of a terrace to the east elevation. a prominent mixed-use corner building fronting Wardour Street and Meard The lower ground and ground floors provide 17,551 sq ft (1,630.5 sq m) Street, arranged over lower ground, ground and five upper floors. of retail and restaurant accommodation known as 80-82, 84 and 88 First to fifth floors comprise 33,585 sq ft (3,120.1 sq m) of comprehensively Wardour Street. All three units have frontages to Wardour Street with refurbished Grade A office accommodation accessed via a ground floor 80-82 Wardour Street benefiting from a return frontage on to the reception located at the corner of Wardour Street and Meard Street. pedestrianised section of Meard Street. The office accommodation, substantially refurbished in 2013, provides open plan regular floorplates with excellent natural light from three sides.

THE ACCOMODATION

FLOOR USE AREA SQ FT (NIA) AREA SQ M (NIA)

FLOOR 5 OFFICE 5,337 495.8 FLOOR 4 OFFICE 6,412 595.7 FLOOR 3 OFFICE 7,080 657.7 FLOOR 2 OFFICE 7,037 653.8 FLOOR 1 OFFICE 6,945 645.2 GROUND FLOOR RECEPTION 774 71.9 OFFICE SUB TOTAL 33,585 3,120.1

80-82 WARDOUR RETAIL / RESTAURANT GROUND 3,486 323.9 LOWER GROUND 4,179 388.2 84 WARDOUR RETAIL / RESTAURANT GROUND 4,022 373.6 LOWER GROUND 5,147 478.2 88 WARDOUR RETAIL / RESTAURANT GROUND 717 66.6 RETAIL / RESTAURANT SUB TOTAL 17,551 1,630.5

TOTAL 51,136 4,750.6

20 THOUGHTWORKS BREAK OUT AREA, FIRST FLOOR THE BUILDING – OFFICE SEVENTYSIX WARDOUR

22 23 THE BUILDING – RETAIL & RESTAURANTS SEVENTYSIX WARDOUR

24 25 ACCOMMODATION & FLOORPLANS SEVENTYSIX WARDOUR

EXCEPTIONAL FLOORPLATES – LARGE, FLEXIBLE FLOORS APPEALING TO A WIDE RANGE OF OCCUPIERS ACROSS MULTIPLE SECTORS.

VAPIANO WAHACA RESTAURANT RESTAURANT

HUMMUS OFFICE BROS RECEPTION RESTAURANT

OFFICE RECEPTION TERRACES RETAIL / RESTAURANTS

GROUND FLOOR RECEPTION 774 SQ FT / 71.9 SQ M RETAIL / RESTAURANT 8,225 SQ FT / 764.1 SQ M

VAPIANO WAHACA RESTAURANT RESTAURANT

TRANSFORMER CHAMBER

LOWER GROUND FLOOR RETAIL / RESTAURANT 9,326 SQ FT / 866.4 SQ M

26 27 ACCOMMODATION & FLOORPLANS SEVENTYSIX WARDOUR

2 4

SECOND FLOOR FOURTH FLOOR OFFICE 7,037 SQ FT / 653.8 SQ M OFFICE 6,412 SQ FT / 595.7 SQ M

3 5

THIRD FLOOR FIFTH FLOOR OFFICE 7,080 SQ FT / 657.7 SQ M OFFICE 5,337 SQ FT / 495.8 SQ M

28 29 SUMMARY SPECIFICATION

THE OFFICE ACCOMMODATION WITHIN THE BUILDING WAS COMPREHENSIVELY REFURBISHED IN 2013 TO A GRADE A SPECIFICATION TO INCLUDE:

– BREEAM RATING ‘VERY GOOD’

– NEW CONTEMPORARY RECEPTION AREA

– TWO NEW 10 PERSON PASSENGER LIFTS

– NEW M&E SYSTEM INCLUDING AET UNDERFLOOR A/C

– NEW FULLY ACCESSIBLE RAISED FLOORS OF 220MM

– REFURBISHED FAÇADE AND MANSARD

– FLOOR TO CEILING HEIGHTS OF 2.57 – 2.6 METRES 1

– LG7 COMPLIANT LIGHTING THROUGHOUT

– REPLACEMENT WINDOWS AT ALL LEVELS

– FOUR NEW UNISEX WC’S AND ONE NEW DDA COMPLIANT WC / SHOWER ROOM ON EACH FLOOR

– NEW TERRACES AND BALCONIES AT ALL LEVELS

2

3 4

1. WC SUPERLOO’S ALL FLOORS 2. PASSENGER LIFTS 3. RECEPTION FEATURE GLASS WALLS 4. REBECCA GOULDSON FACIA ART

30 THOUGHTWORKS, FIRST FLOOR TENURE & TENANCY SEVENTYSIX WARDOUR

TENURE – FREEHOLD

TENANCY

TERM TERM NEXT CURRENT CURRENT FLOOR DEMISE TENANT USE AREA START EXPIRY REVIEW PASSING RENT PASSING RENT COMMENTS (SQ FT) (£PA) (£PSF)

FLOOR 5 SHERIDANS 0FFICE 5,337 06/01/2014 05/01/2024 06/01/2019 £400,275 £75.00 Lease outside the 1954 Act.

FLOOR 4 SHERIDANS OFFICE 6,412 06/01/2014 05/01/2024 06/01/2019 £471,282 £73.50 Lease outside the 1954 Act.

FLOOR 3 WAGAMAMA LTD OFFICE 7,080 22/12/2014 21/12/2029 22/12/2019 £520,380 £73.50 Lease inside the 1954 Act.

FLOOR 2 ANGELA MORTIMER PLC OFFICE 7,037 19/09/2014 18/09/2024 19/09/2019 £457,405 £65.00 Lease outside the 1954 Act. Rent topped up by vendor to reflect December 2016 fixed rental uplift. Current passing rent £228,703 pa. A nine month rent deposit is held.

FLOOR 1 THOUGHTWORKS LTD OFFICE 6,945 11/07/2014 10/07/2024 11/07/2019 £434,063 £62.50 Lease inside the 1954 Act.

GROUND FLOOR RECEPTION 774

80-82 WARDOUR OAXACA LTD RETAIL / RESTAURANT GROUND FLOOR 3,486 14/04/1997 13/04/2027 14/04/2017 £393,000 £51.27 Lease inside the 1954 Act. Rent review clause stipulates that the new rent is to be analysed to an assumed (TRADING AS WAHACA) floor area of 4,842 sq ft and geared to 95.5% of Open Mark Rent at the April 2017 review as long as tenant is in occupation.

LOWER GROUND 4,179

84 WARDOUR VAPIANO LTD RETAIL / RESTAURANT GROUND FLOOR 4,022 20/01/2014 19/01/2029 20/01/2019 £600,000 £65.44 Lease inside the 1954 Act. Guaranteed by Vapiano SE.

LOWER GROUND 5,147

88 WARDOUR HUMMUS BROS LTD RETAIL / RESTAURANT GROUND FLOOR 717 15/01/2003 14/01/2023 15/01/2018 £70,000 £97.63 Lease inside the 1954 Act. A £29,375 rent deposit is held.

TOTAL 51,136 £3,346,405

(1) Transformer Chamber lease for 99 years from 08/12/1977 at a rent £0.05 per annum (if demanded).

32 33 COVENANTS

THE PROPERTY IS MULTI-LET TO A DIVERSE RANGE OF QUALITY TENANTS

SHERIDANS Sheridans is a leading media law firm founded in 1956. Specialist services Founded in Hamburg, Germany in 2002, Vapiano is an international include media, leisure, entertainment, finance technology, intellectual franchise of Italian restaurants with over 168 restaurants in 30 countries. property and real estate. Dun & Bradstreet reports a 2A3 rating for Vapiano based upon a turnover Dun & Bradstreet reports a O1 rating for Sheridans which represents of £9.16 million and a net worth of £5.54 million for the year ending a minimum risk. December 2014. The obligations of Vapiano UK Limited as tenant are guaranteed by Vapiano SE.

Founded in 1992 in London, Wagamama is a multi –award winning Japanese inspired restaurant which operates in over 18 countries worldwide. It is renowned amongst the restaurant industry for its Oaxaca Limited (t/a Wahaca). innovative approach. In 2014 it was voted the number one brand in the Founded in 2007, Wahaca has since expanded to 22 stores throughout UK for “satisfaction” and “intention to revisit” in the CGA Peach London and across the UK. The multi-award winning restaurant chain brandtrack survey. focuses on quality Mexican ‘market-style’ food and drink. 76 Wardour Street is the global headquarters of Wagamama. Dun & Bradstreet reports a 2A3 rating for Wahaca based upon a turnover Dun & Bradstreet reports a 5A1 rating for Wagamama, based upon of £36.21 million and a pre-tax profit of £1.46 million for the year ending a £118,115,000 turnover and an annual pre-tax profit of £18,619,000 June 2015. for the year ending April 2015.

Hummus Bros was founded in 2003. It is a Levantine-themed restaurant Angela Mortimer is a recruitment firm specialising in placing business with a primary focus on hummus based dishes. It has since expanded support and executive roles. Founded in 1976, the Angela Mortimer to six stores in central London including Soho, Holborn, St Paul’s and group of companies now operates in the UK, France, Belgium and the Exmouth Market. Netherlands. Dun & Bradstreet reports an O2 rating for Hummus Bros which Dun & Bradstreet reports a 1A3 rating for Angela Mortimer based upon represents a lower than average risk of business failure. a turnover of £22,776,698 and a pre-tax profit of £670,188 for the year ending June 2015.

ThoughtWorks Ltd is a technology consultancy focusing on business development for its clients in sectors including financial services, health, government and retail. Founded over 20 years ago, ThoughtWorks now has 34 offices spanning 12 countries globally. Dun & Bradstreet reports a 4A1 rating for ThoughWorks, based upon a £41,944,354 turnover and pre-tax profits of £4,770,072 for the year ending December 2014.

34 GROUND FLOOR RECEPTION MARKET COMMENTARY

IN TERMS OF PROPERTY CENTRAL LONDON SEVENTYSIX WARDOUR REMAINS THE WORLD’S MOST TRADED CITY

INVESTMENT MARKET COMMENTARY WEST END AND SOHO OFFICE RENTAL COMMENTARY Investment volumes in London reached £18 billion in 2015. The West Total take-up in the West End for 2015 reached 3.21 million sq ft with End saw £1.5 billion worth of transactions in Q1 2016 with a further prime rents of circa £120 psf consistently acheived. Vacancy rates £355 million traded in the first month of Q2. This follows investment remain at a historic low of 3.8%. volumes of £9.3 billion across the whole of 2015 for the West End. Soho has experienced exceptionally strong demand from creative, The diverse occupier base combined with a limited supply of tech and financial industries, with prime rents now exceeding £100 psf. investment opportunities attracts a range of domestic and international As a result of the combination of an already low level of supply relative buyers; including institutional, corporate and private investors who to demand, a restricted Soho development pipeline and the arrival of view London as a safe haven for their equity against a backdrop of Crossrail over the next 2/3 years, office rents in the immediate area global financial volatility. are forecast to experience further growth. Central London retail investment has experienced transactional volumes of circa £575 million in Q1 2016 following total 2015 volumes of circa £2.3 billion, a 55% increase on 2014.

OFFICE INVESTMENT COMPARABLES

DATE ADDRESS TENURE AREA PRICE NIY CAP VAL PSF (SQ FT)

MAY 16 ASTICUS BUILDING, 21 PALMER STREET, SW1 FH 60,731 £80,000,000 c.3.90% £1,317 MAY 16 20 GROSVENOR SQUARE, W1 FH 43,244 £96,000,000 c.3.77% £2,221 MAY 16 12 GOLDEN SQUARE, W1 FH 27,090 £51,540,000 c.4.21% £2,198 MAR 16 14 ST GEORGE STREET, W1 FH 51,861 £121,700,000 3.50% £2,347 FEB 16 8-10 HANOVER STREET, W1 FH 26,545 £70,000,000 c.3.30% £2,637 DEC 15 12 SOHO SQUARE & 3-7 SOHO STREET, W1 FH 22,258 £33,500,000 c.2.90% £1,303

KEY OFFICE LEASING COMPARABLES

DATE PROPERTY FLOOR AREA TENANT RENT TERM (SQ FT)

MAY 16 7-11 LEXINGTON STREET, W1 ENTIRE 12,569 SNAPCHAT £77.00 10 DEC 15 7 AIR STREET, W1 6th & 7th 10,225 AMICUS UK LTD £85.00 10 SEP 15 12 GOLDEN SQUARE, W1 3rd 4,172 HIGHLAND CAPITAL PARTNERS EUROPE £91.50 10 AUG 15 AMPERSAND BLDG, 180 WARDOUR STREET, W1 ENTIRE 66,401 KING DIGITAL ENTERTAINMENT PLC £85.00 10 JUN 15 25 KINGLY STREET, W1 2nd & 3rd 6,478 INSTRUCTURE GLOBAL £80.00 5 MAY 15 12 GOLDEN SQUARE, W1 4th-6th 9,238 DIAGEO PLC £95.00-£102.50 10

*The information above has been supplied by third parties and its accuracy cannot be guaranteed.

36 VIEW FROM CENTRE POINT LOOKING WEST ACROSS SOHO MARKET COMMENTARY (CONT)

SOHO RETAIL & RESTAURANT MARKET COMMENTARY Central London prime retail rents have experienced exceptionally high The arrival of the new Elizabeth line (Crossrail) at Tottenham Court growth over the past five years, aided by London’s reputation as a Road station combined with the major public realm works of the West world class retail destination. Soho has particularly benefited from End Project is expected to enhance the immediate area even further. the booming leisure sector and high demand from restaurant Soho’s leisure operators are expected to benefit significantly from the operators seeking premises in the area. Large premiums are often 1.5 million sq ft of space in the development pipeline over the next five paid by ingoing tenants in order to secure units on prime Soho pitches years for the Oxford Street East / Tottenham Court Road area. Of this, such as Wardour Street. 450,000 sq ft is set to be flagship space aimed at attracting high Soho, the long established hub of West End nightlife, has emerged quality retailers. in recent years as a destination for high end restaurants such as Driven by rising tourist numbers in central London and strengthening Jackson + Rye, Social Eating House and Hix, just a few examples of the occupier demand, low vacancy rates are currently being experienced renowned operators with a presence in the area. As a result, ground in Soho with strong rental growth forecast to continue alongside other floor rents (on best space) have reached upwards of £150 psf. core West End destinations such as Oxford Street, Regent Street, Central London remains a top global retailing destination and this Bond Street and Covent Garden. position has been further strengthened by volatility in the emerging markets.

RESTAURANT, RETAIL AND LEISURE COMPARABLES

DATE ADDRESS TENURE AREA PRICE NIY COMMENTS (SQ FT)

APR 16 50 DEAN STREET, W1 FH 3,630 £8,300,000 3.50% Let to L’Entrecote. Residential sold off.

DEC 15 STONEGATE PUB PORTFOLIO FH 15,303 £30,000,000 2.74% St James Tavern, Piccadilly Circus. , Old Compton Street. Duke of Wellington, Wardour Street.

AUG 15 5-7 BLANDFORD STREET, W1 FH 2,156 £12,100,00 2.49% Let to L’Autre Pied.

APR 15 4 GREAT MARLBOROUGH STREET, W1 FH 3,612 £4,140,000 2.97% Let to Starbucks.

SOHO RESTAURANT LEASING COMPARABLES

DATE ADDRESS LEASE EVENT TENANT RENT ON BEST SPACE (£PSF)

JAN 16 81 DEAN STREET, W1 OML WAGAMAMA £155.00 SEP 15 50 DEAN STREET, W1 OML LE RELAIS DE VENISE L’ENTRECOTE £110.20 MAR 15 122-126 WARDOUR STREET, W1 RR COTE BRASSERIE £119.00 NOV 14 1-4 BERKELEY SQUARE, W1 OML SEXY FISH £188.50 NOV 14 1 CAMBRIDGE CIRCUS, WC2 OML BOCCO DI LUPO / VICO £130.00 NOV 14 22 KINGLY STREET, W1 OML DISHOOM £115.00

*The information above has been supplied by third parties and its accuracy cannot be guaranteed.

38 QUO VADIS, DEAN STREET MORE INFORMATION

CAPITAL ALLOWANCES PLEASE CONTACT Capital allowances may be available to a purchaser by separate For further information, or to arrange a viewing, please contact: negotiation. BEN BLINSTON-JONES VAT +44 (0)20 7543 6716 The property is elected for VAT which will be chargeable on the purchase [email protected] price. It is anticipated that the transaction is to be treated as a transfer of going concern (TOGC). NICK PEMBERTON +44 (0)20 7543 6775 ENERGY PERFORMANCE CERTIFICATE [email protected] The property has been classified as having an EPC rating of ‘B’. MARK IBBOTSON PLANNING +44 (0)20 7543 6879 The property is not listed but does lie within the Soho Conservation Area. [email protected]

DATA ROOM CHLOE NEWTON +44 (0)20 7543 6886 Please contact Allsop for password protected access to the data room. [email protected]

PROPOSAL Offers are invited for the freehold interest.

MISREPRESENTATION 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, give notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representative of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representa- tions, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. June 2016.