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8 Fenchurch Place A | A 8 FENCHURCH PLACE LONDON EC3 The Amundi Collection 8 Fenchurch Place – London INVESTMENT SUMMARY 8 Fenchurch Place is located in a prime EC3 City of London location, in the heart of the world’s largest insurance district. Comprehensively refurbished in 2012. 98,647 sq ft of highly specified office and ancillary accommodation arranged over lower ground, ground, mezzanines and five upper floors. Fully let on effective full repairing and insuring terms to a diverse mix of five tenants from the insurance, professional services and charitable sectors. Secure income with a WAULT of just under 9 years to lease expiries and 7 years to tenant break options. Current passing rent of £4,399,900 per annum, equating to an attractive low rent of only £44.60 per sq ft overall, compared to prime City rents which are currently in excess of £65.00 per sq ft. Reversionary income profile with five upcoming rent reviews occurring in 2019 and 2020. Held on a long leasehold interest from Network Rail Infrastructure Limited (originally British Railways Board) for a remaining term of circa 169 years at a peppercorn rent. Potential asset management opportunities in the short to medium term to add value and enhance the running yield. Offers are invited in excess of £78,600,000, subject to contract and exclusive of VAT, for our client’s Long Leasehold interest in 8 Fenchurch Place. This represents an attractive net initial yield of 5.50% and a capital value of £797 per sq ft, assuming acquisition costs of 1.80% through the purchase of the Luxembourg SARL. 8 Fenchurch Place – London 2 | 3 8 Fenchurch Place – London LOCATION 8 Fenchurch Place is situated in London’s premier business district in the heart of the City of London and in a core EC3 LOCATION location being only a 3 minute walk from Lloyd’s, the world’s leading insurance market. Although in the heart of the insurance district, 8 Fenchurch Place is also in a prominent location for occupiers from a variety of sectors, with several major transport hubs being situated in the vicinity. The immediate location has also been enhanced through the provision of a growing and diverse range of retail, leisure and hotel amenities. This includes the historic Leadenhall Market with a unique boutique retail offering, iconic London landmarks such as the Tower of London and Tower Bridge and a range of high end hotels such as the Four Seasons Hotel, Grange City Hotel and the Hilton Hotel Tower of London. The building itself is located directly above Fenchurch Street station and fronts a landscaped square which hosts a bustling street food market. 70 Mark Lane, occupied by Zurich Insurance and Miller Insurance, and AIG’s owner occupied headquarters at 58 Fenchurch Street, also border the square. 8 Fenchurch Place – London 6 | 7 CONNECTIVITY Liverpool Street t e e Str d e t a H a o o g u r Br B nd o e ld v s o is d STATION WALKING CONNECTIVITY O it M M c 8 Fenchurch Place has unrivalled connectivity being situated a h DISTANCE rk Gres s above Fenchurch Street station and within a short walk of ham S FENCHURCH STREET 1 min National Rail Services treet Lothbu ton Street multiple underground and national rail stations. ry Throgmor TOWER HILL 3 mins District Line Aldgate Circle Line et The connectivity of 8 Fenchurch Place will be further enhanced when t tre Stree S MONUMENT le gh Crossrail (The Elizabeth Line) becomes operational in late 2018. This 5 mins District Line ed Hi ne te read 8 ga east-west rail link will span across Central London, significantly reducing Circle Line Po Th FENCHURCH ld ultry Bank A M journey times from Reading and Heathrow in the west to Abbey Wood and PLACE a TOWER GATEWAY Leadenha n 5 mins DLR ll St LONDON EC3 reet s Shenfield in the east. The Crossrail station at Liverpool Street will provide e Cornhill t l e l t e S the City with direct access to Heathrow within 35 minutes, the West End LLOYD’S r K e t ALDGATE t 6 mins District Line t in e BUILDING S r r e within seven minutes and Canary Wharf within six minutes. ree g t M e St e a S ri W i t o m n Circle Line ict i V i h o en l c L ue li r r Q a i k e BANK m u 8 mins Central Line o h s o L c r S o mb e b t l re ar c 3 minutes Northern Line a d a e St r W t re et G Waterloo & City Line C Fenchurch DLR an Fe non nchu Street Str rch Str LIVERPOOL STREET 9 mins Central Line eet eet s Hammersmith & City Line riar Cannon ed F Crutch Circle Line Street Tower e Metropolitan Line n Gateway Eas a U tche L ppe Monument ap r T k National Rail Services ham G r es r a Str ea e t M Elizabeth Line et To Tower Hill we r S tre London Overground / TfL Rail et CANNON STREET e 10 mins District Line g d l i reet il r St H Lowe ard wer B r T w To Circle Line hame By n s Stre o et National Rail Services d n o CGI of proposed Liverpool Street Crossrail station LONDON BRIDGE 15 mins Northern Line L Jubilee Line National Rail Services London Bridge LIVERPOOL 8 MINS STREET STRATFORD SHENFIELD 7 MINS WEST ACTON BOND 2 MINS READING SOUTHALL EALING MAIN LINE STREET FARRINGDON WHITECHAPEL CUSTOM MAIDENHEAD HANWELL EALING PADDINGTON TOTTENHAM HOUSE BROADWAY COURT ROAD 10 MINS 10 MINS ABBEY 4 MINS WOOD CANARY WOOLWICH HEATHROW WHARF 33 MINS LONDON CITY AIRPORT 8 Fenchurch Place – London 8 | 9 LOCAL OCCUPIERS Liverpool Street 9 t e 4 e Str 8 20 d e t a H a o 3 o g u r Br B nd o e ld 25 v s o i d O s it M M c In the surrounding area there are an abundance of renowned global insurance, professional and financial companies who are a h 4 rk Gres s ham S 5 attracted to the area through the quality of the office accommodation, extensive local amenities and unrivalled transport connections. treet 5 24 Lothbu n Street ry hrogmorto T 26 23 7 9 2 21 32 6 28 Aldgate et t 18 tre INSURANCE PROFESSIONAL Stree S le gh ed Hi ne te 1 Lloyd’s Register 23 Lockton, JLT Group 1 DAC Beachcroft read 8 ga Po Th 17 FENCHURCH ld ultry Bank A M PLACE a 2 2 Leadenha n Lancashire Holdings, Tokio Marine 24 Tysers Accenture ll St LONDON EC3 reet s Cornhill t e Kiln, Markel International, Ascot e l l t e S 25 Towergate Insurance 3 Kennedys LLOYD’S r K e t Underwriting, Allied World t t in e BUILDING S r r e ree g t M e St e Assurance, RSA Insurance Group, a S 15 26 Hiscox 4 McDermott Will & Emery ri W i t o m 3 n ict i V i h o en l c L 16 Liberty Specialty Markets r ue li 22 r 19 Q a i k e 27 W.R. Berkley 5 Clyde & Co m u o h s 3 Cunningham Lindsey o L c r S o mb e b t l re ar c 27 3 minutes 1 28 AXA 6 Holman Fenwick Willan a d 13 a S r 4 AIG e tr 6 W t ee G t 3 29 Groupama Insurance Ltd, 7 Hunton & Williams LLP, 8 14 5 5 M&G 4 Fenchurch Chubb, BMS Group Kirkland & Ellis LLP Can F non ench Street St urch S 6 Gen Re 30 Besso Insurance Group Ltd 8 Latham & Watkins LLP reet 12 treet 7 11 2 7 Marsh Inc 9 White & Case LLP s 29 31 Zurich Insurance, Miller Insurance 31 riar Cannon 1 ed F 8 2 Crutch 8 Chaucer Insurance, Munich Re, 32 Hyperion, Enstar, Travelers 10 Charles Taylor Street Tower QBE Insurance, Aspen Re e n 30 Gateway Eas 1 a U tche L 9 Axis Insurance, Beazley Group ppe Monument ap r T k h r 6 am G 9 FINANCIAL es 10 r a Str ea 10 Howden Group ee t T M Tower Hill t ow e 10 1 Sucden Financial r S 7 tr 10 11 Allianz SE ee 2 Standard Life, t e 12 AEGIS, Barbican Insurance Group g ION Trading d l i reet il r St H Lowe ard wer B r T To h w 13 RFIB and XL Catlin 3 Westpac Banking Corporation ame By n s Stre o et d 7 14 XL Catlin and Vitality Health 4 CMC Markets n o L 15 RKH Specialty 5 Tradition, FSCS 7 16 Willis Towers Watson 6 LCH.Clearnet, Thomson Reuters 17 Aon, Amlin, Brit Insurance 7 Société Générale London Bridge 18 Aviva 8 ICBC 19 Mitsui Sumitomo Insurance 9 Deutsche Bank 20 Asta 10 Tower Research 21 Swiss Re 22 Arthur J Gallagher & Co 8 Fenchurch Place – London 10 | 11 COMPLETED DEVELOPMENTS In the immediate vicinity of 8 Fenchurch Place, there has been a substantial amount LOCAL DEVELOPMENT ACTIVITY 1 20 FENCHURCH STREET of development activity, which further underlines the significance of the location within Developer: Landsec / Canary Wharf Group EC3. The completion of these developments will further enhance this area as one of the Size: 713,000 sq ft Completion Date: 2014 premier business districts within London.
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