Loch Portfolio Loch Portfolio

Home , Dumfries railway station, Glasgow Central Railway, Sauchiehall Street

LOCH PORTFOLIO The Loch Portfolio offers an excellent opportunity to purchase a well balanced mixed use portfolio comprising 9 individual assets strategically located in core commercial locations across Scotland. THE PROPERTIES LOCH PORTFOLIO

SAINT-GOBAIN, 300, CROWNPOINT ROAD, GLASGOW, G40 2UJ YODEL, 4, ROSEHALL ROAD, BELLSHILL, NORTH LANARKSHIRE ML4 3NR 102, ARGYLE STREET, GLASGOW, G2 8AH

109-113 SAUCHIEHALL STREET, GLASGOW, G2 3DD NEXT, 117-119, HIGH STREET, DUNFERMLINE, KY12 7DR HALFORDS, ST MICHAELS BRIDGE ROAD, DUMFRIES, DG1 OJE

1 & 2, THUNDERTON PLACE, ELGIN, IV30 1LY ALLAN HOUSE, 21-25 BOTHWELL STREET, GLASGOW, G2 6NL LAUREL HOUSE, STIRLING, FK7 9JQ LOCH PORTFOLIO

INVESTMENT CONSIDERATIONS INCOME BY LOCATION % NATIONAL COVENANTS

13% 11% 17% ~ Well balanced mixed use portfolio comprising 9 individual assets strategically located in core commercial locations across Scotland. 12% 10% ~ The portfolio comprises a trade counter, distribution warehouse, 2 office and 5 retail/retail warehouse units totalling 261,836 sq ft (24,325 sq m) of which 50,618 sq ft (4,702.5 sq m) is A1 retail accommodation. 12% ~ All properties held on Heritable (Freehold) interests.

~ The portfolio is let to 13 tenants generating a total income of 83% £2,267,311 per annum, reflecting modest £8.66 psf overall. 43%

n Glasgow n National ~ Future fixed rental increases in 2017 and 2022. n Dunfermline n Non National n Bellshill ~ Strong tenant profile including: Yodel Delivery Network Limited, Saint-Gobain n Elgin n Dumfries Building Distribution, Halfords Limited, Next Plc, Everything Everywhere Limited n Stirling (EE), Hutchison 3G UK Limited (Three Mobile) and Bank of Scotland Limited.

~ Attractive average weighted unexpired lease term (AWULT) of 6.37 years to expiry and 5.32 year to breaks. INCOME BY SECTOR TOP 5 TENANTS BY INCOME ~ Low vacancy rate of 4.53% with good historic tenant retention. 7% 9% ~ 83% of the income secured against national covenants 11% with 45% secured to tenants with a 5A1 D&B rating. 17% 36%

~ Multiple active asset management opportunities throughout the portfolio.

~ We are seeking offers in excess of £25,000,000 (Twenty Five Million Pounds) 10% subject to contract and exclusive of VAT. A purchase at this level provides an attractive net initial yield of 8.53% (after allowing for standard purchasers costs 12% in Scotland).

28% 12% 14% n Retail n Next n Industrial n Yodel n Office n Saint Gobain n Trade Counter n Target Advisors n Restaurant n Scottish Enterprise TENANCY SCHEDULE LOCH PORTFOLIO

TENANCY SCHEDULE

ELGIN

Town/ City Address Area No of Current income AWULT % of Vacancy (sq ft) Tenants £pa £psf (£ ITZA) Breaks Expiry income by Area Saint-Gobain, 300, Glasgow 89,452 1 £286,246 £3.20 11.6 11.6 12.74% 0% Crownpoint Road, G40 2UJ

Yodel, 4 Rosehall Road, Bellshill 53,077 1 £275,000 £5.18 4.91 9.91 12.23% 0% North Lanarkshire ML4 3NR

Glasgow 102, Argyle Street, G2 8AH 1,602 1 £160,000 (£150) 4.12 4.12 7.12% 0% M90 109 - 113 Sauchiehall Street, STIRLING Glasgow 1,112 1 £111,500 (£130) 2.84 7.84 4.96% 0% DUNFERMLINE G2 3DD

117 - 119 High Street, GLASGOW M80 M9 Dunfermline 13,398 1 £216,000 (£71.50) 5.65 5.65 9.61% 0% KY12 7DR M8 M73 M8 M77 Dumfries St Michaels Bridge Road, DG1 0JE 15,400 1 £192,479 £12.50 5.8 5.8 8.56% 0% BELLSHILL M74

1&2 Thunderton Place, Elgin 34,506 2 £235,000 £6.81 7.54 7.54 10.45% 0% IV30 1LY A74(M) Allan House, Glasgow 30,777 2 *£521,478 £16.94 4.12 4.77 21.22% 37% DUMFRIES 21 - 25 Bothwell Street, G2 6NL

Laurel House, Stirling 22,502 3 £269,608 £11.98 0.92 1.37 12.00% 0% Laurelhill Business Park, FK7 9JQ M6 261,836 13 £2,267,311 £8.66 5.32 6.37 100% 4.53% A1(M)

M6 A1(M)

M55 M65 M62 M66 M62 M58 M18 M180 *Inclusive of rental guarantee. M60 M1 A1(M) M53 M56 M56

M54 M6 Toll M42 M69 M5 M6 A1(M) M42 M40

M50 M1 M11 A1(M) M5

M40 M25 M48 M25 M4 M4 M32 M4 M2 M25 M3 M20 M23 M5

M27 A3(M)

SAINT-GOBAIN, 300, CROWNPOINT ROAD, GLASGOW, G40 2UJ LOCH PORTFOLIO

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LOCATION SITUATION DESCRIPTION

Glasgow is the largest city in Scotland with a resident population The Property is situated approximately 1.2 miles east of Glasgow The property comprises a warehouse with ancillary office and trade of approximately 610,000 people and a wider catchment city centre. The Property occupies a prominent corner location on counter accommodation arranged over ground and part first floor population in the region of 2.5 million. The City forms the principal the junction with Crownpoint Road and Fielden Street. The M8 levels. The property has been subdivided into two sections with a commercial area in the central belt and west coast of Scotland Motorway is located approximately 1.7 miles north of the Property large warehouse including trade counter accommodation to the with key employment sectors including; retail, banking, financial with the M74 approximately 1.8 miles to the south. The immediate south and a two storey office building with part warehouse and services, public administration, education and tourism. area forms an established commercial location which includes part trade counter at ground floor level. The City benefits from excellent transport communications, with Forge Retail Park and Shopping Centre 0.1 miles to the north The warehouse accommodation benefits from multiple roller the M8 motorway providing access to the national motorway and Celtic Football Club 0.2 miles to the east. Surrounding shutter door access and a minimum eaves height of 5 metres. The networks via the M74 and M77. The City has two main railway notable occupiers include; ASDA, Argos, B&Q, Tool Station and office accommodation includes predominantly suspended ceilings stations which link Glasgow to other key cities across the United Sports Direct. with fluorescent tube lighting and wall mounted electric heaters. Kingdom, with the International Airport located 9 miles to the west The property benefits from a large secure yard to the south of the of the city centre, accommodating 30 airlines and providing regular SITE AREA property incorporating car parking with open storage and 105 car domestic, European and transatlantic flights. spaces to the north of the property. The site area totals 1.735 ha (4.287 acres), which provides a site cover of 43.06%. TENURE COVENANT INFORMATION Heritable (Freehold) AWULT Saint-Gobian Building Distribution Limited

AWULT to expiry of 11.6 years (certain). D & B Rating: 5A1 Experian Risk Disk: Very Low Risk Saint-Gobian Building Distribution Limited for the year ending 31/12/2013 reported a turnover of £623,912,000, a pre-tax profit of -£39,426,000 and a total net worth of £137,991,000.

TENANCY SCHEDULE

Tenant Lease Start Lease Expiry Next Review Area (sq ft) Current Rent ERV ERV Comments Income £p.a (£psf) £p.a £psf

Saint-Gobain 06-Apr-07 05-Apr-27 06-Apr-17 89,452 £286,246 £3.20 £323,861 £3.62 The lease is subject to 5 yearly rent Building Distribution Ltd reviews based on 2.5% annual increases (compounded). The rent will therefore rise to £323,861 p.a. in 2017.

Total 89,452 £286,246 £3.20 £323,861 £3.62

t YODEL, 4, ROSEHALLe ROAD, BELLSHILL, NORTH LANARKSHIRE ML4 3NR LOCH PORTFOLIO e r t S

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A e D r d C n ue E lv W el B LOCATION SITUATION DESCRIPTION

Bellshill is an established commercial town located in North The property is situated on Rosehall Road within the established The property comprises a modern self-contained detached Lanarkshire, approximately 10 miles south east of Glasgow city Bellshill Industrial Estate, approximately 0.5 miles west of the A725 distribution warehouse over ground floor level with two storey centre and 37 miles west of Edinburgh. The A725 runs directly which provides direct access to the M8 and M74 Motorways. office and ancillary accommodation to the front of the property. through Bellshill leading north to the M8 (Junction 7) and south The immediate area consists of predominantly industrial The warehouse accommodation is regular in shape and benefits to the M74 (Junction 5), both within a 5 minute drive of the accommodation being particularly popular with the automotive from 83 ground level loading bays and a minimum eaves height town centre. and distribution sectors due to its transport communications and of 6.85 metres (22.6 ft). Hamilton Central railway station is located approximately 4.5 supply of large warehouse accommodation. Surrounding notable The property benefits from a large, secured yard which circulates miles south of the Bellshill which provides regular services to occupiers include; Easy Space Self-Storage, Howdens Joinery, Man the unit with visitor/ staff car parking to front elevation and Glasgow Central with a fastest journey time of 25 minutes. Trucks and DHL. overnight HGV parking the rear of the site. Glasgow International Airport is located within a 25 minute drive of Bellshill town centre providing regular Domestic, European and Transatlantic flights. SITE AREA COVENANT INFORMATION The site area totals 2.219 ha (5.484 acres), which provides a low Yodel Delivery Network Limited TENURE site cover of only 24.73%. D & B Rating: 5A1 Yodel Delivery Network Ltd (5A1 D&B) for the year ending Heritable (Freehold) 30/06/2014 reported a turnover of £384,999,000, a pre-tax profit of -£72,934,000 and a total net worth of £51,780,000.

TENANCY SCHEDULE

Tenant Lease Start Lease Expiry Active Break Next Review Area (sq ft) Current Income Rent ERV ERV £p.a (£psf) £p.a £psf

Yodel Delivery Network Limited 01-Oct-90 01-Aug-25* 01-Aug-20 01-Aug-15 53,077 £275,000 £5.18 £276,000 £5.20

Total 53,077 £275,000 £5.18 £276,000 £5.20

*The lease was extended in April 2014.

102, ARGYLE STREET, GLASGOW G2 8AH LOCH PORTFOLIO 

© Crown Copyright, ES 100004106    LOCATION  SITUATION  DESCRIPTION   Glasgow is the largest city in Scotland with a resident population The property occupies a prime retail pitch in Glasgow city centre The property comprises a prime retail unit arranged over basement, of approximately 610,000 people and a wider catchment on a pedestrianised section of Argyll Street adjacent to the ground and first floor level. population in the region of 2.5 million. The City forms the principal entrance of Argyll Arcade. Argyle Street, along with Buchanan The ground floor comprises open plan retail accommodation commercial area in the central belt and west coast of Scotland Street and Sauchiehall Street forms Glasgow’s ‘Golden Z’ shopping with a return glazed frontage on to Argyle Street and the popular with key employment sectors including; retail, banking, financial area, attracting national retailers and prime Zone A rents of £150 Argyll Arcade. The basement level comprises storage/ ancillary services, public administration, education and tourism. psf. Notable retailers in the immediate vicinity include; Debenhams, accommodation which is accessed via to the rear of the unit. The City benefits from excellent transport communications, with Next, Nike, Vodafone, Santander, Hermes and WH Smiths. The first floor is accessed via a stairwell to the rear of the retail the M8 motorway providing access to the national motorway The subject property is situated within 0.1 miles of Glasgow accommodation and comprises office/ ancillary accommodation networks via the M74, M8 and M77. The City has two main Central railway station as well as benefiting from numerous bus as well as separate male and female toilet facilities. railway stations which link Glasgow to other key cities across the services providing links around the city centre and outer Glasgow. United Kingdom, with the International Airport located 9 miles to the west of the city centre, accommodating 30 airlines and providing regular domestic, European and transatlantic flights. COVENANT INFORMATION Hutchison 3G UK Limited TENURE D & B Rating: N1 Hutchison 3G UK Limited (N1 D&B) for the year ending 31/12/2013 Heritable (Freehold) reported a turnover of £2,041,882,000 and a pre-tax profit of £166,484,000.

TENANCY SCHEDULE

Tenant Lease Start Lease Expiry Next Review Area sq ft Current Income Rent £psf ERV £p.a ERV £psf (ITZA) £p.a (£ ZA) (£ ZA)

Hutchison 3G UK Limited 20-Oct-99 19-Oct-19 - 1,602 £160,000 £99.88 £160,000 £99.88 (990) (£150) (£150)

Total 1,602 £160,000 £99.88 £160,000 £99.88 (990) (£150) (£150)

109-113 SAUCHIEHALL STREET, GLASGOW, G2 3DD LOCH PORTFOLIO



© Crown Copyright, ES 100004106    LOCATION  SITUATION  DESCRIPTION   Glasgow is the largest city in Scotland with a resident population The Property occupies a prime retail pitch on Sauchiehall Street, The Property comprises a prime retail unit arranged over ground of approximately 610,000 people and a wider catchment one of Glasgow’s prime retail locations which along with and first floor levels. population in the region of 2.5 million. The City forms the principal Argyle Street and Buchanan Street forms Glasgow’s ‘Golden Z’ The Property provides high quality, open plan retail accommodation commercial area in the central belt and west coast of Scotland shopping area achieving prime Zone A rents and attracting a high on ground floor level with a large glazed frontage onto Sauchiehall with key employment sectors including; retail, banking, financial concentration of national retailers. The subject property is situated Street with a recessed customer entrance. To the rear of the ground services, public administration, education and tourism. on pedestrianised section of Sauchiehall Street benefiting from floor is a small office currently being used as a safe and server room. To rear of the retail accommodation is a stairwell providing access excellent footfall from both Hope Street and Buchanan Street. The City benefits from excellent transport communications, with to the first floor which comprises office/ancillary accommodation The immediate area is characterised by strong national retailers the M8 motorway providing access to the national motorway as well as separate male and female toilet facilities. networks via the M74 and M77. The City has two main railway benefiting from a high foot fall, including; McDonalds, USC, stations which link Glasgow to other key cities across the United Specsavers, Greggs, Holland & Barrett and Vodafone. Kingdom, with the International Airport located 9 miles to the west The subject property is located within a 10 minute walk of COVENANT INFORMATION of the city centre, accommodating 30 airlines and providing regular Glasgow Central Station as well as benefiting from numerous bus Everything Everywhere Limited domestic, European and transatlantic flights. services providing links around the city centre and outer Glasgow. D & B Rating: N1 TENURE Experian Risk Disk: Very Low Risk AWULT EE Limited for the year ending 31/12/2014 recorded a turnover Heritable (Freehold) of £6,327,000,000, a pre-tax profit of -£255,000,000 and a total AWULT to expiry of 7.84 years and 2.84 years to break. net worth of -£868,000,000.

TENANCY SCHEDULE

Tenant Lease Start Lease Expiry Active Break Next Review Area sq ft Current Rent £psf ERV £p.a ERV £psf (ITZA) Income £p.a (£ ZA) (£ ZA)

Everything Everywhere Limited 11-Jul-13 10-Jul-23 11-Jul-18 11-Jul-18 1,112 £111,500 99.38 £111,540 £100.00 (858) (£129.95) (£130.00) Total 1,112 £111,500 99.38 £111,540 £100.00 (858) (£129.95) (£130.00)

NEXT, 117-119, HIGH STREET, DUNFERMLINE, KY12 7DR LOCH PORTFOLIO 

© Crown Copyright, ES 100004106    LOCATION  SITUATION  DESCRIPTION   Royal Borough of Dunfermline is an attractive town in Fife The property occupies a prime position on Dunfermline High The property is arranged over basement, ground and two upper located approximately 19 miles north west of Edinburgh and 22 Street located centrally within the town centre on a pedestrianised floors providing a prominent double fronted retail unit with miles east of Stirling. The town forms the retailing, financial and area immediately south of Kingsgate Shopping Centre. The High associated office and ancillary accommodation. administrative centre for the Fife Council area with key employers Street and Kingsgate Shopping Centre form the prime retail The retail accommodation is arranged over ground and first floor including; Lloyds Banking Group, The Royal Bank of Scotland, thoroughfares in Dunfermline achieving Zone A rents of £75-£80 levels with access to the first floor sales areas via a prominent The Ministry of Defence, Shell UK Limited and BSkyB. psf and attracting destination retailers including; Primark, Marks & staircase located at the front of the retail accommodation and The town benefits from good transport communication with Spencers, WH Smiths and Sports Direct. a passenger lift to the rear of the property. Ancillary/office Junction 3 and 2 of the M90 both located within 2 miles to east Kingsgate Shopping Centre provides the main car parking facilities accommodation is provided at basement, part ground floor, part and south of the town centre respectively. Dunfermline Town for shoppers within the town centre, providing direct access to the first floor and second floor levels with separate male and female railway station is located centrally within Dunfermline and provides high street and the subject property. toilet facilities. regular services to Edinburgh Waverley Station and Glasgow Central with a fastest journey time of 35 minutes and 1 hour 30 minutes respectively. AWULT COVENANT INFORMATION AWULT to expiry of 5.67 years (certain). Next Group Plc TENURE D & B Rating: 5A1 Experian Risk Disk: Very Low Risk Heritable (Freehold) Next Group Plc for the year ending 24/01/2015 recorded a turnover of £202,200,000, a pre-tax profit of £139,400,000 and a total net worth of £772,700,000.

TENANCY SCHEDULE

Tenant Lease Start Lease Expiry Next Review Area sq ft Current Income Rent £psf ERV £p.a ERV £psf (ITZA) £p.a (£ ZA) (£ ZA)

Next Group Plc 03-May-11 02-May-21 03-May-16 13,398 £216,000 £16.12 £226,575 £16.91 (3,021) (£71.50) (£75.00) Total 13,398 £216,000 £16.12 £226,575 £16.91 (3,021) (£71.50) (£75.00)

ST MICHAELS BRIDGE ROAD, DUMFRIES, DG1 OJE LOCH PORTFOLIO

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LOCATION SITUATION DESCRIPTION

Dumfries is an attractive market town located in south west The property occupies a large site on the south bank of the River The property comprises a modern retail warehouse unit providing Scotland, approximately 76 miles south of Glasgow, 80 miles Nith on the A756 (St Michaels Bridge Road) linking the subject open plan retail accommodation with storage and office south west of Edinburgh and 34 miles north of Carlisle. The town property north to the town centre and M74. The property is accommodation over ground floor level. The retail accommodation, is situated on the A75, A76 and A701 which links the town with situated on the edge of the main commercial centre of Dumfries which has recently been refurbished, benefits from a glass fronted the M74 and national motorway network. Dumfries is regarded as in a mixed residential and retail area. The area to the south of the customer entrance way to the front elevation and a minimum eaves the retail, commercial and administrative centre for Dumfries and property is characterised by an affluent residential area providing height of 7.5 metres. The property includes a separate car servicing/ Galloway which has a total population of approximately 180,000 the main educational and recreational facilities within the town. MOT garage to the rear of the unit benefiting from 7.7 metre eaves, people. The town is formed around the River Nith with the main Adjacent the southern boundary of the site are industrial buildings car servicing pits and two automated roller shutter doors. commercial development following the river edge through the town. comprising automotive businesses. The property benefits from a large parking area comprising a total Dumfries railway station is located to the north of the town centre of 67 designated spaces reflecting a ratio of 1:194 sq ft. and provides regular services to Carlie and Glasgow with fastest AWULT journey times of 38 minutes and 1 hour 40 minutes respectively. Dumfries railways station also provides two daily services to AWULT to expiry of 5.8 years (certain). COVENANT INFORMATION Newcastle with a fastest journey time of 2 hours 5 minutes. Halfords Limited D & B Rating: 5A1 TENURE Experian Risk Disk: Very Low Risk Heritable (Freehold) Halfords Limited for the year ending 28/03/2014 recorded a turnover of £803,100,000, a pre-tax profit of £86,200,000 and a total net worth of £548,000,000. SITE AREA

The site area totals 0.531 ha (1.313 acres), which provides a low site cover of only 27.95%.

TENANCY SCHEDULE

Tenant Lease Start Lease Expiry Next Review Area (sq ft) Current Income Rent ERV ERV £p.a (£psf) £p.a £psf

Halfords Limited 24-Jun-01 23-Jun-21 24-Jun-16 15,400 £192,479 £12.50 £192,479 £12.50

Total 15,400 £192,479 £12.50 £192,479 £12.50

1 & 2, THUNDERTON PLACE, ELGIN, IV30 1LY LOCH PORTFOLIO

LOCATION SITUATION DESCRIPTION

Elgin is the administrative and commercial centre of Moray The Property occupies a prominent position on Thurderton The Property comprises a large, modern, purpose built retail unit district located on the Moray Firth to the north east of Scotland, Place, just off Elgin High Street forming part of the prime retail with ancillary office accommodation over ground and first floor approximately 40 miles east of Inverness and 64 miles north west offering within in the town centre. The immediate area comprises levels. The Property has been subdivided into two separate retail of Aberdeen. The town is situated on the A96 (Aberdeen/Inverness predominantly retail accommodation with an affluent residential units which both benefit from excellent return frontage on to Road) and the A941 which links to the A95 approximately 11 miles area to the south. The property is situated adjacent to one of the Thunderton Place. The units are accessed via a communal entrance to the south, in turn providing access to the south of Scotland. main public parking facilities in town centre serving the High Street lobby which is shared between the subject units only. A large The town sits in the world famous Speyside Whisky Country which along and wider retailing area, generating a high footfall. multi-storey car park to the rear of the unit (not part of the subject with the Cairngorm National Park and Malt Whisky Trail makes the town a demise) generates high volume footfall from local shoppers using The subject property, High Street and the nearby St Giles Shopping popular tourist destination. The town has a large commercial offering the High Street. Centre represents the main retail thoroughfare within the town built around the tourism, administration and retail sectors which has TK Maxx occupies the larger of the two units which comprises and houses a mixture of multiple and local retailers including; led to high local catchment population of 142,000 people. open plan retail accommodation over ground floor level. A corridor M&S, Ladbrokes, Vodafone, WH Smiths and Boots. Elgin railway station is located centrally within the town to south of the connects the retail space to a loading area and stock room on the main commercial centre, adjacent Springfield Retail Park. The station ground floor and further staff and ancillary accommodation on the provides regular services to both Aberdeen and Inverness, with fastest first floor. Pound Stretcher occupies the smaller unit which provides journey times of 1 hour 30 minutes and 49 minutes respectively. open plan retail accommodation with a loading bay and ancillary accommodation over ground floor level. AWULT COVENANT INFORMATION

AWULT to expiry of 7.55 years (certain). NBC Apparel t/a TK Maxx Poundstretcher Ltd D & B Rating: 5A1 D & B Rating: N2 TENURE Experian Risk Disk: Very Low Risk Experian Risk Disk: Below average risk Heritable (Freehold) TK Maxx for the year ending 01/02/2014 recorded a turnover Poundstretcher for the year ending 31/03/2014 recorded of £71,709,000, a pre-tax profit of £173,000 and a total net a turnover of £395,360,000, a pre-tax profit of £1,347,000 worth of £4,388,000. and a total net worth of -£3,361,000. TENANCY SCHEDULE

Unit Tenant Lease Start Lease Expiry Next Review Area (sq ft) Current Income Rent ERV ERV £p.a (£psf) £p.a £psf

NBC Apparel t/a TK Maxx 31-Aug-04 30-Aug-24 31-Aug-19 27,636 £150,000 £5.43 £165,800 £6.00 Poundstretcher Ltd 01-Sep-05 31-Aug-20 31-Aug-15 6,870 £85,000 £12.37 £82,440 £12.00 Totals 34,506 £235,000 £6.81 £248,240 £7.20

ALLAN HOUSE, 21-25 BOTHWELL STREET, GLASGOW, G2 6NL LOCH PORTFOLIO

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Heritable (Freehold) OFFICE REFURBISHMENT The 1st and 4th floors are currently undergoing an extensive refurbishment programme at a cost of over £800,000 which are due to complete shortly. Further details are available upon request. TENANCY SCHEDULE

Unit Tenant Lease Start Lease Expiry Active Break Next Review Area (sq ft) Current Rent ERV ERV Comments Income £p.a (£psf) £p.a £psf

Ground & Blackhouse Restaurants 12-Jul-99 11-Jul-24 29-Sep-19 7,779 £147,000 £18.90 £140,022 £18.00 Guarantee from The Restaurant Group Plc. Basement Limited 1st Floor Vacant 5,700 £102,600 £18.00 £102,600 £18.00 The Vendor is to provide an 18 month rental (Rental Guarantee) guarantee. Accommodation is currently being refurbished and will be completed soon. Part 1st Floor under offer at £18.50 psf. 2nd & Scott-Moncrieff 03-Jul-15 03-Jan-20 04-Jan-18 11,598 £169,278 £14.60 £208,764 £18.00 If the break option is not exercised the tenant 3rd Floors is entitled to a 5 month rent free period commencing on 04/01/18. 4th Floor Vacant 5,700 £102,600 £18.00 £102,600 £18.00 The Vendor is to provide an 18 month rental (Rental Guarantee) guarantee. Accommodation is currently being refurbished and will be completed soon. Totals 30,777 £521,478 £16.94 £553,986 £18.00

9 A811 A Stirling 81 1 oad S on R p bart it Dum ta l S tr Project Loch - Laurel House Stirling ee t A 9 LAUREL HOUSE, LAURELHILL BUSINESS B PARK, STIRLING FK7 9JQ LOCH PORTFOLIO A u 81 r 1 g G h m o o u Vic s ir

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Stirling is located centrally within Scotland approximately, 14 miles The property is prominently located on the entrance of Laurelhill The property comprises an attractive office building arranged north west of Falkirk, 26 miles north east of Glasgow and 36 miles Business Park, which is accessed from Polmaise Road. Laurelhill over ground and two upper floors within the landscaped grounds west of Edinburgh. The City is regarded as the administrative and Business Park is formed of four purpose built office buildings with of Laurelhill Business Park. The ground floor provides a recently financial centre of Stirlingshire with education, local government, occupiers including; The Civil Aviation Authority, Toshiba, DVLA and refurbished reception, with open plan office accommodation laid retail and financial being the main employment sectors in the city. Expro. The Property benefits from excellent links with Stirling city out to provide two distinct wings. The first and second floors Stirling benefits from excellent road communications with A811/ centre with regular bus services from Dalmorglen Bus Stop which is provide further office accommodation in the same configuration to A905 running directly through the city centre providing access adjacent the subject property. the ground floor space. The office specification includes suspended to the M9 approximately 1.8 miles to the west. The M9 provides The immediate surrounding area is predominantly residential ceilings, raised flooring and CAT 2 lighting. The building has the direct access south to Falkirk, Glasgow and Edinburgh. Stirling comprising a number of new build residential schemes, local flexibility to be let as a whole or divided on a floor by floor/ wing railway station is located centrally within the city providing regular primary and secondary schools and Stirling Golf Course all with by wing basis. services to Perth, Glasgow Queen Street and Edinburgh Waverley a mile of the subject property. There are a total of 72 car parking spaces providing a parking ratio stations, with fastest journey times of 31, 40 and 59 minutes of 1:340. respectively. COVENANT INFORMATION TENURE Target Advisers LLP Bank of Scotland Plc Scottish Enterprise D & B Rating: O1 D & B Rating: 5A1 Heritable (Freehold) Scottish Enterprise is a non-departmental Experian Risk Disk: Very Low Risk Experian Risk Disk: Low Risk public body which promotes business in SITE AREA Target Advisors LLP (O1 D&B) for the year Bank of Scotland Plc for the year ending Scotland by providing training and support ending 30/04/2014 reported a turnover of 31/12/2014 reported a pre-tax profit of to high growth companies. Scottish Enterprise The site area totals 0.907 ha (2.243 acres), which provides £1,015,028, a pre-tax profit of £403,013 £3,180,000,000 and a total net worth of is funded by the Scottish Government. a low site cover of 11.28%. and a total net worth of £342,472 £20,420,000,000.

TENANCY SCHEDULE

Unit Tenant Lease Start Lease Expiry Active Break Next Review Area (sq ft) Current Rent ERV ERV Comments Income £p.a (£psf) £p.a £psf

West Wing & GF East Scottish Enterprise 07-Jun-91 06-Jun-16 - 15,105 £182,250 £12.07 £166,155 £11.00 Lease subject to a 15 month rent free period expiring on 20/07/2016. 1st Floor East Target Advisers LLP 20-Apr-15 19-Apr-20 20-Apr-17 - 3,697 £40,458 £10.94 £40,667 £11.00 Vendor to top-up rent free period. Break penalty of £20,229. 2nd Floor East Bank of Scotland Plc 30-Aug-91 29-Aug-16 - - 3,700 £46,900 £12.68 £40,700 £11.00 Sub-let to Scottish Sea Farms Ltd. Communal Storage Totals 22,502 £269,608 £11.98 £247,522 £11.00 LOCH PORTFOLIO

VAT

We understand that all of the properties within the portfolio have been elected for VAT. It is anticipated that the sale will be structured as a Transfer of a Going Concern (TOGC).

EPCs

EPC’s for all properties are available on request.

PROPOSAL We are instructed to seek offers in excess of £25,000,000 (Twenty Five Million Pounds) subject to contract and exclusive of VAT. A purchase at this level provides an attractive net initial of 8.53% (after allowing for standard purchasers costs in Scotland).

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Hodgson James Salmon Lottie Hayward 020 7543 6709 020 7543 6880 020 7543 6750 [email protected] [email protected] [email protected] www.allsop.co.uk

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives 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 representations 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 representations, 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. Design: Command D - www.commandHQ.co.uk 09.15