AIR Property Investor Profiles

Air Capital Asset Management (UK) Ltd Alanis Capital 78-79 New Bond Street, W1S 1RZ 60 Fitzwilliam Square, , Ireland 2 Tel: 020 7268 2600 Fax: 020 7268 2601 Tel: 00 353 1 676 1033 Fax: 00 353 1 676 1129 Email: [email protected] Email: [email protected] Contacts Web: www.alaniscapital.com Andrew Rosenfeld (Managing Director) Contacts Steven Lewis (Director) John McCormack (Chairman) Comment Brian McCormack (Director) Andrew Rosenfeld, the former chief executive of , entered Niall McCormack (Director) into a £1 billion property partnership with Goldman Sachs. Alan McCormack (Director) Rosenfeld has established a new firm called Air Capital and signed Marcus Ryan (Director) a joint venture with the US bank's Whitehall property fund. The Fergal O'Beirne (Chief Operating Officer) terms of the deal have yet to be announced, but it is thought the fund will focus on the purchase of investment property. Rosenfeld, Comment who now lives as a tax exile in Geneva, sold his stake in Minerva Alanis Capital is a leading Irish property investment and and now has a fortune of £100m at his disposal. (04/07) development firm operating in markets across Ireland, the , Europe, North and South America and the Caribbean. Fund The firm's extensive property portfolio is currently valued in excess Airport Industrial GP Ltd of €3 billion. Fund Manager: Scottish Widows Investment Partnership Edinburgh One, Morrison Street, Edinburgh EH3 8BE 08/07 - Anglo Irish Bank Private Banking and Alanis Capital purchased the freehold shopping centre investment of the Tel: 0131 655 8500 Fax: 0131 662 0293 Metquarter in Liverpool city centre for around £85m. Email: [email protected] Web: www.swip.com Alaska Estates & Properties Ltd Contacts The Alaska Building, Sitka Drive, Shrewsbury Business Park Paddy Ledingham (Head of Product developments and Shrewsbury, Shropshire SY2 6LG Comment Tel: 01743 343322 Fax: 01743 343399 The AIPUT is a JPUT which specialises in the airport related sector Email: [email protected] of the industrial property market. The fund is designed to capitalise Web: www.alaskagroup.com on the anticipated growth in air travel and the constrained supply of industrial accommodation close and on major airports. The portfolio Contacts comprises 19 properties situated at 4 major UK airports. (88% Alan Hay (Managing Director) Heathrow). Comment Alaska Property Group is a property investment and development REQUIREMENTS: company, operating between Oxford and . The Industrial • Within 5 miles of the perimeter fence company develops properties in the office, retail, industrial and • UK Locations leisure sectors. Established in 1994, Alaska has a current - development programme in excess of £30m. - - Edinburgh/ - Gatwick Albanwise Ltd - Heathrow Old School House, Fincham Road, Barton Bendish - Manchester King's Lynn, Suffolk PE33 9DL - Stansted Tel: 01366 348055 • Europe Locations - Charles de Gaulle Email: [email protected] - Frankfurt Web: www.albanwise.co.uk - Schiphol Contacts • Up to £50m lot size William Lee (Chief Executive) (2007) Comment The fund net asset value as of 30/09/07 was £376m Albanwise Limited is an unquoted property investment company with large scale farming operations in Norfolk and Yorkshire and property interests in London and the Home Counties. The company Aitch Group Holdings Ltd is a subsidiary of Perseverance Limited Copper House, 88 Snakes Lane East, Woodford, Essex IG8 7HX (www.perseveranceltd.com). Tel: 020 8504 4500 Fax: 020 8505 2727 Email: [email protected] Recent acquisitions have included 266/268 Earls Court Road, SW5 (£7.9m), 24 Lincolns Inn Fields, WC2 (£3.8m) and 14 Devonshire Web: www.aitchgroup.com Square, EC2 (£5.2m). (02/08) Contacts Year Ending Dec 2006 Dec 2005 n/a Henry Smith (Chairman) Turnover £5.87m £6.92m n/a Peter Rider (Construction Director) Pre-Tax Profit £0.5m £-0.58m n/a Comment Net Worth £45.3m £33.6m n/a The principle activity of the company and the group continued to be Total Assets £82.1m £69.7m n/a that of property development and investment. Year Ending Aug 2006 Aug 2005 n/a Turnover £37.4m £20.1m n/a Pre-Tax Profit £11.1m £0.8m n/a Net Worth £3.4m £2.31m n/a Total Assets £46.6m £47.7m n/a

Section 2 - 4 The UK Property Investors Directory - 2008 Edition ALL Property Investor Profiles

Fund Amalgamated Berkshire Holdings Plc Allied Dunbar Pensions The Colonnades, 82 Bishops Bridge Road, London W2 6BB Fund Manager: Threadneedle Property Investments Ltd Tel: 020 7229 4640 Fax: 020 7229 4641 9-15 Sackville Street, London W1A 2JP Email: [email protected] Tel: 020 7437 8000 Fax: 020 7494 2377 Contacts Email: [email protected] Geoffrey Barber (Chairman) Web: www.threadneedle.co.uk Contacts Amazon Properties Plc Don Jordison (Fund Manager) 23 Spring Street, London W2 1JA Tel: 020 7298 8700 Fax: 020 7298 8701 Allied Land Plc Email: [email protected] 3rd Floor, Hanover House, 118 Queens Road, Brighton BN1 3XG Web: www.amazonproperty.com Tel: 01273 324122 Fax: 01273 327105 Contacts Email: [email protected] Charles Gourgey (Managing Director) Web: www.alliedland.co.uk Comment Contacts The Amazon Group is a mixed-use multi disciplinary Steven Rogers (Director) investor/developer. The group has been established for 12 years David Peck (Project Director) during which period the company has acquired well in excess of 2 million square feet mostly in London and the Home Counties. John Croft (Finance Director) (08/07) Comment Allied Land Plc heads a group of Property Development, Property Amsprop Ltd Investment and Investment Management Companies. Formed in 1984 as a property investment specialist, the group has since Brentwood House, 169 Kings Road, Brentwood, Essex CM14 4EF expanded to undertake a broad range of property related activities. Tel: 01277 201333 Fax: 01277 208006 Email: [email protected] The group has funded and developed over 30 projects to date, Web: www.amsprop.com comprising approximately 1.2million sq ft with a total value of approximately £75 million. The developments undertaken include Contacts residential, mixed use, commercial and industrial projects Daniel Sugar (Managing Director) throughout the United Kingdom and overseas. Sir Alan Sugar (Director) Colin Sandy (Financial Director) Properties Ltd James Hughes (Property & Estates Manager) 1 Cavendish Place, London W1G 0QF Comment Tel: 020 7291 7970 Fax: 020 7291 7971 Sir Alan Sugar’s Amsprop owns a substantial UK property portfolio Email: [email protected] which includes property in Mayfair and St James. Amsprop is run Web: www.alliedlondon.com by Sir Alan's son Daniel, and is one of around 30 companies owned by Sir Alan. Contacts Michael Ingall (Chief Executive) 02/08 - Amspop bought a 23,000 sq ft block at 291 Oxford Street Freddie Graham-Watson (Finance Director) and 2 Harewood Place, W1 from, Scottish Widows for £31.25m - a Graham Skinner (Construction Director) circa 5% yield. Amsprop plans a major revamp of the 8,400 sq ft of vacant offices on the upper floors. It hopes to dramatically improve Stuart Lyell (Development Director) rents achievable at the building. Rents in nearby Hanover Square Philip Daniell (Group Property Manager) have reached £120 per sq ft. Comment Year Ending Jun 2006 Jun 2005 Jun 2004 Allied London's specialises in complex city centre mixed-use and Turnover £11.5m £8.82m £18.2m retail redevelopment schemes. Major schemes have included Pre-Tax Profit £-3.18m £1.83m £5.86m in Manchester, Skypark in Glasgow and the Net Worth £71.2m £39.9m £29.7m Brunswick in London. Allied London was acquired in a £500m MBO Total Assets £170m £121m £101m with backing from The Royal Bank of Scotland and Delancey. Allied London has a property development and investment portfolio with a gross value of around £500m. The total completion value of its Andbury Properties existing commecial property developments is around £800m. 2nd Floor, 40 James Street, London W1U 1EX (10/06) Tel: 020 7224 2356 Fax: 020 7224 2970 Year Ending Dec 2006 Dec 2005 Dec 2004 Email: [email protected] Turnover £3.36m £6.29m £5.52m Contacts Pre-Tax Profit £-10.6m £11.8m £8.54m Patrick Ranger (Director) Net Worth £68.8m £80m £48.9m Tim Langley (Director) Total Assets £480m £348m £346m Comment Altyre Properties Patrick Ranger (Former Asda Property chief executive) and Tim Langley (Cardales director) formed this retail property investment The Old Mill, The Warren, Crowborough, East Sussex TN6 1UB company in February 2002. Tel: 01892 665724 Fax: 01892 652258 Email: [email protected] 02/08 - Andbury Properties sold a prime retail unit at 6 All Saints Contacts Square, Bedworth, Warwickshire to Eros Properties, represented by Allsop, for £635,000. Ross Barbour (Managing Director)

Section 2 - 6 The UK Property Investors Directory - 2008 Edition UK Buyers Index (2006 - 2008)

Retail Warehouse Retail Warehouse Shopping Centres Anglo International 1 £87m Murdock Group 1 £6m Invista REIM 1 £73m Arlington Property Invest 4 £75m Property Trust 1 £44m Ivanhoe Cambridge 1 n/a Arlington Securities 1 £10m O Twelve Estates Ltd 1 £13m Jermon Developments Ltd 1 £18m Athanor Investments 1 £3m Oppenheim Immobilien KAG 1 £29m JP Morgan Asset Man 1 £50m AXA Sun Life 1 £13m Orange Properties Ltd 1 £3m Kandahar Investments 2 £48m Bank of Ireland PB 1 £209m Oregan Financial EUT 1 £9m Kenmore Group 1 £56m BBC Pension Trust 1 £16m Peel Developments Ltd 1 £7m Kilmartin Properties 1 n/a Blackrock Intl Land Plc 1 £17m Prestbury Invest Holdings 1 £32m Kirkstone Property 1 £50m BlackRock UK Property 1 £40m Propinvest Holdings Ltd 5 £214m Lagan Developments 2 £206m Braceforce Group 1 £8m Protego Real Estate 1 £32m Land Securities Plc 1 £30m Britannia Insurance 1 £18m PRUPIM 5 £78m LaSalle Investment Man 2 £52m Britannic UK PF 1 £50m Quintain Estates & Dev 2 £107m Lathe Investments 1 £52m Plc 3 £360m Regent Retail Parks 1 £55m Lend Lease 1 £93m Canada Life Assurance 3 £125m Resolution Property 3 £95m London & Associated 1 £40m Capital & Regional 1 £3m Rock Investment Holdings 1 £114m London & Lothian Inv Ltd 3 £35m Capital Shopping Centres 1 £83m Rowe Group of Companies 1 £7m Manhattan Loft Corp 1 £4m Carran Properties Ltd 1 n/a Scottish Widows 2 £109m MAR Properties Ltd 3 £222m Castlemore Securities 3 £58m Shell Pensions Trust 1 £14m Marshall Construction 1 £11m CBRE Investors 10 £141m Skandia Life Assurance 1 £37m MCR Property 1 £22m Charities Property Fund 2 £24m Stadium Group 1 £9m Milestone Trust Ltd 2 £136m Properties Ltd 1 £49m Stadium Holdings 1 £13m Modus Properties Ltd 3 £328m Cheval Properties 2 £115m Standard Life 4 £245m Moorfield REF LP 1 £85m CIS Properties 1 £63m Starfield Properties Ltd 1 £20m Morley Fund Management 1 £200m Citygrove Securities Plc 1 £8m Stockland Halladale 1 £11m Mountain Capital 1 £17m Close IM Ltd 1 £8m SWIP Property Trust 1 £5m Multiplex Developments 1 £90m Cordea 1 £29m TAP Income Trust Ltd 1 £5m Mutual Finance 1 £37m Cordea Savills PanEuro PF 1 £20m Terrace Hill Group Plc 1 £4m Newbridge Capital Inv 1 £7m Cranford Developments 1 £7m The Junction LP 1 £106m O Twelve Estates Ltd 3 £89m Credit Suisse Asset Man 1 £5m TRB Estates Liverpool Ltd 1 £8m Oracle Estates Ltd 1 £7m , The 1 £680m UBS Asset Management 1 £55m Parkridge Holdings Ltd 2 £32m Danish investors 1 £6m UBS Triton Property Fund 2 £87m Patron Capital Partners 1 £26m Edgemore Ltd 1 £5m Westbrook Real Estate 1 £30m PBN Property 1 £20m Ellandi Property Ltd 1 £2m WG Mitchell Ltd 1 £2m Princeton Investments Plc 1 £26m F&C Asset Management 1 £14m Propinvest Holdings Ltd 6 £818m Flodrive Holdings 2 £13m Shopping Centres QIC Real Estate 1 £524m FPLAL Commercial Fund 2 £28m ABP Investments 2 £530m Ravenhill Estates 2 £26m Friends Provident 3 £21m Alanis Capital 1 £86m Redevco UK 1 £107m Gaardsholt & Partners 1 £5m Apollo Real Estate 1 £442m Regional & City Plc 1 £9m Gallagher Developments 3 £37m AWG Property Ltd 1 £21m Rokeby 1 £6m GIC Real Estate 1 £83m Bank of Ireland PB 1 £126m ROM Capital 2 £20m Goodman Investors 1 £14m Baronsgate Estates 1 £31m RREEF UK PVF 1 £21m Goodman UK Retail Parks 1 £81m British Land Plc 1 £55m Schroder Properties Ltd 1 £25m Hale Investments Ltd 1 £2m British Steel PF 1 £51m Standard Life 1 £130m Plc 2 £546m Caddick Developments 1 £72m Stockland Halladale 2 £31m Hanson Industrial PS 1 £10m Cairnduff Developments 2 £57m SVM Properties Ltd 1 £55m Hawkstone Properties Plc 1 £12m Cala Properties 3 £86m The Mall Fund 1 £49m Henderson UK Retail Fund 1 £58m Capital Shopping Centres 1 £200m Tyburn Lane LLP 1 £38m Hercules Income Fund 1 £17m Capmark Investments LP 1 £29m UBS Asset Management 1 £23m Hercules Unit Trust 3 £745m Castlemore Securities 2 £3m UBS Triton Property Fund 2 £79m HSBC Bank Pension Trust 1 £38m CBRE Investors 2 £30m USS 1 £81m Igal Ahouvi 1 £24m Chester Properties Ltd 2 £59m Vale Retail 1 £38m ING Lionbrook Property 1 £50m Cheval Properties 1 £20m WG Mitchell Ltd 1 £21m ING REIM UK Ltd 1 £50m Ciaran Murdoch 1 £95m Wildmoor Properties 1 £53m Institutional investor 1 £4m CIREF Ltd 2 £228m William Ewart Properties 2 £360m Invista FPT 1 £15m Citigroup PI 2 £35m Invista REIM 6 £75m Corovest 1 £50m Unit Shops - London JJ Gallagher 2 £10m Cosgrave Property Group 2 £317m Albanwise Ltd 1 £8m Joint Properties, The 1 £6m CPPIB 4 £1,183m Amsprop Ltd 1 £31m JP Morgan Asset Man 1 £20m Criterion Capital 1 £197m BR Property SA 1 £5m Kilmartin Properties 1 £7m Davy Stockbrokers 2 £117m Cadogan Estate, The 1 £6m Land Securities Plc 1 £11m Dawnay Day Properties 1 £6m Capita Life & Pensions 1 £8m LaSalle Investment Man 3 £24m Draco Property 1 £24m Capital & Counties Plc 1 £125m LaSalle UK Ventures Fund 2 £54m Duignan & McCarthy 1 £93m Cavendish & 1 £9m Legal & General Property 3 £43m Dutch clients of WD 1 £29m CBRE Investors 3 £17m Lenville Properties 1 £1m FM Developments 2 £22m Church Commissioners 2 £34m Local Authorities PF 1 £7m Frogmore RE Partners 2 £161m Clarendon Properties 1 £10m Lothbury Property Trust 1 £16m GIC Real Estate 2 £720m Conegate Ltd 1 £19m Mayfair Estates 1 £6m Gladedale Capital 1 £13m Consolidated Property 1 £2m MEPC Ltd 1 £5m Golfrate Properties Ltd 1 £28m Cosgrave Property Group 3 £219m Merlin Danesmount Ltd 1 £7m Habro Properties Ltd 1 £24m Criterion Capital 1 £5m Minton Investments 1 £1m Halladale Group Plc 4 £79m Delancey 1 £65m Morgan Enterprises Ltd 1 £2m Henderson Investors 3 £456m Deramore Property Group 1 £26m Morley Fund Management 10 £449m Henderson UK Retail Fund 1 £90m DTZ Investment Management 1 £7m Morley Pooled Pensions PF 4 £70m Hermes REIM 1 £33m DVS Property Ltd 1 £0.9m MRC Pension Trust 1 £4m ING Britannica 1 £75m Edgehill Securities 1 n/a

Section 4A - 2 The UK Property Investors Directory - 2008 Edition REA UK Buyers and Sellers (2006 - 2008) COMPANY B/S TOWN ADDRESS SECTOR PRICE (£m) YIELD (%) DATE Real Estate Investors Plc BUY BIRMINGHAM Latitude, Chinese QuarterRetail 2.25 n/a Sep 2007 Real Estate Investors Plc BUY WEST BROMWICH Guardian HouseOffice 4.53 n/a Jun 2007 Real Estate Investors Plc BUY BIRMINGHAM Colmore Row, 102-106Office 6.35 3.0 Feb 2007 Real IS AG BUY LONDON SW1 Tothill Street, 14Office 57.80 5.7 Feb 2008 Real IS AG BUY COVENTRY Sapphire Court, WalsgraveBusiness Park 19.00 6.9 Feb 2008 Real IS AG SELL LONDON EC4 Ludgate Hill, 55Office 94.00 4.4 Jun 2007 Real IS AG BUY NORTHAMPTON Northampton Business ParkBusiness Park 74.95 5.4 Jun 2006 Realdon Property SELL LONDON SW6 Filmer Road, 75Office 4.00 4.8 May 2007 Realdon Property (JV) BUY LONDON SW6 New Kings Road, 212Retail 6.00 3.9 Jul 2006 Redab Properties Ltd SELL LONDON EC1 Farringdon Road, 77-79Office 19.30 4.6 Jul 2007 Redab Properties Ltd (JV) BUY LONDON EC1 Farringdon Road, 109-111Office 5.50 n/a Jun 2007 Redab Properties Ltd SELL LONDON EC4 New Bridge Street, 16-18Office 7.50 n/a Nov 2006 Redevco UK SELL EDINBURGH Queen Street, 21-23Office 3.10 n/a Feb 2008 Redevco UK BUY GLASGOW Buchanan Street, 36Retail 6.40 4.8 Dec 2007 Redevco UK BUY GLASGOW Princes SquareShopping Centre 107.00 5.5 Nov 2007 Redevco UK SELL LONDON W1 Oxford Street, 499-517Mixed 165.00 4.3 Nov 2006 Redevco UK SELL LONDON SW1 Pall Mall, 50/51Office 49.50 4.6 Oct 2006 Reflect Developments (JV) BUY ALDERLEY EDGE The Parade/Westhead HouseMixed 6.00 n/a Jul 2007 Reflect Developments BUY MANCHESTER John Dalton StreetOffice 15.00 5.8 Jul 2006 REIT Asset Management SELL AYLESBURY High Street, 8Retail 1.05 6.6 Mar 2008 REIT Asset Management SELL GLASGOW Main Street, ThornliebankRetail 0.46 5.8 Aug 2007 REIT Asset Management SELL ARBROATH High Street, 183-187Retail 0.60 5.4 Aug 2007 REIT Asset Management BUY PORTFOLIO Tawny PortfolioMixed 380.00 5.8 Aug 2007 REIT Asset Management SELL GLASGOW Anniesland Road, 722/724Retail 0.57 5.7 Jul 2007 REIT Asset Management SELL INVERNESS Academy Street, 79-83Retail 1.01 5.3 Jul 2007 REIT Asset Management BUY WAKEFIELD Wakefield 41 Ind ParkIndustrial 14.10 6.4 Jun 2007 REIT Asset Management (JV) SELL LONDON EC4 Upper Thames Street, 68Office 172.25 5.2 May 2007 REIT Asset Management BUY BIRMINGHAM Star CityLeisure 85.50 6.5 Dec 2006 REIT Asset Management BUY BELVEDERE Isis ReachIndustrial 44.75 n/a Sep 2006 REIT Asset Management SELL NEWBURY Newbury Business ParkOffice 13.00 7.0 Aug 2006 REIT Asset Management BUY PORTFOLIO Industrial PortfolioIndustrial 173.00 6.8 Aug 2006 Residential Land Ltd BUY LONDON W1 Lees Place, 10Office 20.00 n/a Mar 2008 Residential Land Ltd BUY LONDON W1 Grosvenor Square, 34Office 8.00 n/a Mar 2008 Residential Land Ltd BUY LONDON W1 Park Street, 40Office 13.50 n/a Mar 2008 Residential Land Ltd BUY LONDON W1 Grosvenor Street, 59-60Office 23.40 4.1 Feb 2008 Resolution Asset Man SELL PORTFOLIO Seven high street shopsRetail 24.00 n/a Mar 2008 Resolution Asset Man SELL SWINDON Headlands Ind EstateIndustrial 5.30 n/a Mar 2008 Resolution Asset Man SELL EDINBURGH Princes Street, 121-123Retail 11.80 n/a Feb 2008 Resolution Asset Man SELL LANCASTER Lancaster Retail ParkRetail Warehouse 26.90 5.7 Jan 2008 Resolution Asset Man SELL High Street, 16-17Retail 0.95 n/a Dec 2007 Resolution Asset Man SELL OXFORD George Street, 37Mixed 5.25 6.5 Dec 2007 Resolution Asset Man SELL CHELMSFORD High Street, 17-18Retail 6.00 4.3 Nov 2007 Resolution Asset Man SELL St Paul Street, 49Retail 3.58 n/a Oct 2007 Resolution Asset Man SELL UXBRIDGE High Street, 6-12Retail 3.34 6.3 Sep 2007 Resolution Asset Man SELL STOKE-ON-TRENT Meirpark InterchangeRetail Warehouse 30.00 n/a Sep 2007 Resolution Asset Man BUY BRACKNELL Radius Park, London RoadOffice 10.05 5.6 Aug 2007 Resolution Asset Man BUY CROYDON Scarbrook Road, 1Office 4.60 n/a Aug 2007 Resolution Asset Man SELL UXBRIDGE Vine Street, 60-61Retail 1.72 4.9 Aug 2007 Resolution Asset Man BUY LONDON EC4 Upper Thamaes Street, 62Office 21.00 n/a Jul 2007 Resolution Asset Man SELL EDINBURGH Princes Street, 88Retail 6.70 5.2 Jun 2007 Resolution Asset Man SELL HORSHAM St Marks CourtOffice 47.46 6.4 Feb 2007 Resolution Asset Man BUY LONDON WC2 Charing Cross Rd, 82Office 22.20 4.5 Jan 2007 Resolution Asset Man SELL LONDON SE1 Borough High Street, 199Office 11.75 n/a Jan 2007 Resolution Asset Man SELL WINCHESTER Dolphin HouseOffice 1.25 8.4 Jan 2007 Resolution Asset Man SELL CAMBRIDGE Market Street, 12-13Retail 24.60 4.1 Dec 2006 Resolution Asset Man BUY LONDON W1 Charlotte Street, 48-54Office 15.10 4.7 Dec 2006 Resolution Asset Man BUY LONDON W1 Curzon Street, 13-14Office 23.00 3.1 Nov 2006 Resolution Asset Man BUY LUTTERWORTH Magna Park, ThermaIndustrial 17.78 5.0 Nov 2006 Resolution Asset Man BUY GLASGOW Gordon Street, 72-80Office 20.22 4.5 Oct 2006 Resolution Asset Man BUY MAIDENHEAD Vanwall Business ParkBusiness Park 11.15 4.9 Sep 2006 Resolution Asset Man SELL LONDON W8 Kensington High St, 37-45Mixed 17.50 n/a Sep 2006 Resolution Asset Man BUY LONDON SW1 Greycoat Street, 33Office 12.50 4.1 Sep 2006 Resolution Asset UK PF BUY MILTON KEYNES Maidstone Road, KingstonIndustrial 10.06 6.3 Aug 2006 Resolution Asset UK PF BUY LUTTERWORTH Magna ParkIndustrial 17.78 5.0 Aug 2006 Resolution Property BUY WELLESBOURNE M40 Distribution ParkIndustrial 49.00 7.2 Mar 2008 Resolution Property BUY SUNDERLAND B&Q, Trimdon StreetRetail Warehouse 21.60 6.0 Mar 2008 Resolution Property BUY Gallows CornerRetail Warehouse 46.60 5.9 Jan 2008 Resolution Property BUY LANCASTER Lancaster Retail ParkRetail Warehouse 26.90 5.7 Jan 2008 Resolution Property (JV) BUY MANCHESTER PrintworksLeisure 105.00 5.7 Dec 2007 Resolution Property SELL LONDON EC4 Queen Victoria Street, 85Office 118.00 5.7 Aug 2007 Resolution Property BUY LONDON EC4 Little Trinity LaneOffice 5.00 n/a Jul 2006 Resolution Property BUY LONDON EC4 Queen Victoria Street, 85Office 104.00 6.5 Apr 2006 Retail Property Invest SELL LYTHAM ST ANNES St Annes Road West, 14-20Retail 1.92 5.9 Nov 2007 Retail Property Invest BUY LANCASTER Penny Street, 10/10a/12Retail 1.80 5.4 Sep 2006 Revelan Group BUY COVENTRY Bedworth RoadIndustrial 1.25 6.8 Nov 2006 Revelan Group BUY BALSALL COMMON Kenilworth RoadOffice 0.65 7.0 May 2006 Section 4B - 50 The UK Property Investors Directory - 2008 Edition Investment Deals Index (2006 - 2008)

Unit Shops - Scotland Unit Shops - Scotland Union Street, 208 1.30 5.82 Jul 2006 EDINBURGH St Johns Road, 128 0.21 5.83 Apr 2006 ABERDEEN Union Street, 221/227 2.28 7.25 Nov 2006 EDINBURGH St Johns Road, 265-267 0.35 6.68 Mar 2008 ABERDEEN Union Street, 373-377 1.46 5.95 Oct 2006 EDINBURGH St Johns Road, 279 0.20 6.10 Mar 2007 ABERDEEN Union Street, 43 0.95 6.85 Jun 2007 ELGIN High Street, 107-109 0.76 5.23 Apr 2007 ABERDEEN Union Street, 81 1.13 5.46 Oct 2007 FALKIRK High Street, 23-35 3.20 n/a Nov 2006 ABERDEEN West Tullos Ind Estate 4.10 6.07 May 2007 FALKIRK High Street, 71-73 5.82 n/a Sep 2007 AIRDRIE Buchannan Street, 1-7 8.00 6.25 May 2006 FORFAR Castle Street, 1 0.24 7.24 Jan 2007 AIRDRIE Graham Street, 48-50 0.76 6.25 May 2007 FORFAR Castle Street, 3-5 0.22 5.75 Sep 2006 ALEXANDRIA Loch Lomond Galleries 1.75 n/a Jun 2006 FORT WILLIAM Grand Hotel, High Street 2.40 n/a Mar 2008 ALLOA High Street, 16 0.47 6.09 Jun 2007 FORT WILLIAM High Street, 28-32 2.00 5.87 Oct 2006 ARBROATH High Street, 160-164 1.04 5.64 Jan 2007 GLASGOW Alexandra Parade 2.43 n/a Jun 2007 ARBROATH High Street, 183-187 0.60 5.35 Aug 2007 GLASGOW Anniesland Road, 722/724 0.57 5.72 Jul 2007 AYR High Street, 114 1.37 6.23 Dec 2006 GLASGOW Argyle Street, 140-148 0.25 3.70 Mar 2007 AYR High Street, 134-136 2.39 4.89 May 2007 GLASGOW Argyle Street, 9/11 3.50 4.66 Dec 2006 AYR High Street, 155 2.40 4.50 Sep 2006 GLASGOW Buchanan Street, 130-140 11.77 3.89 Jul 2006 AYR High Street, 165/179 4.30 4.96 Aug 2007 GLASGOW Buchanan Street, 164a 3.50 4.73 Feb 2008 AYR High Street, 218 0.95 5.15 Jun 2007 GLASGOW Buchanan Street, 20-28 31.00 4.10 Jun 2006 AYR High Street, 85-87 1.10 6.17 Mar 2007 GLASGOW Buchanan Street, 21-31 9.00 n/a Dec 2006 AYR Newmarket Street, 61 0.22 5.77 Aug 2007 GLASGOW Buchanan Street, 21-31 42.36 3.76 Mar 2007 AYR Prestwick Road, 84/86 2.46 4.95 Sep 2007 GLASGOW Buchanan Street, 36 6.40 4.80 Dec 2007 BALLOCH Loch Lomond Shores 8.95 6.55 Nov 2006 GLASGOW Buchanan Street, 50 6.76 n/a Mar 2007 BATHGATE George Street, 29-39 1.58 7.00 Aug 2007 GLASGOW Buchanan Street, 78-90 24.60 4.07 Oct 2007 BELLSHILL Main Street, 243-251 0.90 5.82 Nov 2006 GLASGOW Buchanan Street, 83 7.25 4.25 Apr 2006 CAMBUSLANG Drumsagard 1.54 6.04 Apr 2007 GLASGOW Drymen Road, 134/138 2.10 4.70 Mar 2007 COWDENBEATH Woodend Place 0.80 7.10 Apr 2006 GLASGOW Gordon Street, 19-21 5.65 4.18 Jun 2007 CRIEFF Glenearn Road 1.73 6.28 Jul 2007 GLASGOW Great Western Road, 1626 0.32 5.50 Sep 2007 CRIEFF High Street, 17 0.24 5.59 Aug 2007 GLASGOW Howard Street, 12/26 3.57 n/a May 2007 CUPAR Station Road 3.32 4.90 May 2007 GLASGOW Kilmarnock Road, 36-40 1.50 5.92 Jun 2006 DINGWALL Tulloch Street 3.26 4.90 May 2007 GLASGOW Main Street, Thornliebank 0.46 5.80 Aug 2007 DUMBARTON High Street, 1 0.35 n/a Jan 2007 GLASGOW McIntyre & Hogg Building 0.69 n/a Apr 2006 DUMBARTON High Street, 39 0.43 5.61 Sep 2007 GLASGOW Paisley Road, 2124 1.00 n/a Jul 2006 DUMFRIES High Street, 195 1.02 5.38 Oct 2007 GLASGOW Pollokshaws Road 0.55 5.94 May 2007 DUMFRIES High Street, 195 1.02 5.38 Oct 2007 GLASGOW Queen Street, 151 1.40 n/a Nov 2006 DUNDEE Commercial Street, 70-72 1.25 n/a Aug 2007 GLASGOW Renfield Street, 28-36 9.20 5.26 Sep 2006 DUNDEE Cowgate, 11-19 & 23 3.30 n/a Oct 2006 GLASGOW Renfrew Chambers 2.73 5.51 Nov 2007 DUNDEE High Street, 62/67 & 70 7.10 5.04 Aug 2007 GLASGOW Sauchiehall St, 109-113 2.96 5.25 Nov 2007 DUNDEE Kings Cross Road 3.00 5.53 May 2007 GLASGOW Sauchiehall St, 254-290 12.04 6.66 Dec 2007 DUNDEE Murraygate 3.78 5.75 Mar 2007 GLASGOW Sauchiehall Street, 381 0.26 6.43 Aug 2007 DUNDEE Murraygate, 40/44 4.50 5.00 Dec 2006 GLASGOW St Enoch Square, 38 1.04 5.00 Dec 2006 DUNDEE Reform Street, 42-46 0.72 6.11 May 2007 GLASGOW St Vincent Street, 130 8.75 6.28 Nov 2007 DUNFERMLINE High Street, 115-119 4.10 6.24 Feb 2008 GLASGOW St Vincent Street, 142 0.65 6.03 Jul 2007 DUNFERMLINE High Street, 63/71 3.00 4.75 Feb 2007 GLASGOW Trongate, 176-186 4.88 5.75 Aug 2006 DUNFERMLINE Hospital Hill 1.30 n/a Jun 2006 GLASGOW West George Street 1.10 4.75 Sep 2006 EAST KILBRIDE Kingsway 2.20 4.97 Mar 2007 GREENOCK West Blackhall Street, 70 0.22 5.03 Aug 2007 EDINBURGH Atholl Road, 83 0.74 n/a Dec 2006 GREENOCK West Stewart Street, 25 3.20 6.82 Apr 2006 EDINBURGH Bruntsfield Place, 165b 0.26 5.14 Oct 2007 HAMILTON Quarry Street, 55 0.58 7.51 Jul 2006 EDINBURGH Colinton Road, 62 1.88 4.34 Aug 2007 INVERNESS Academy Street, 79-83 1.01 5.26 Jul 2007 EDINBURGH Forrest Road, 49 0.44 4.99 Jul 2007 INVERNESS High Street, 9 1.52 5.93 May 2007 EDINBURGH Frederick Street, 15a 1.85 6.50 Jul 2006 INVERURIE Station Square 5.33 5.25 Feb 2007 EDINBURGH Frederick Street, 15b 0.66 5.00 Apr 2006 IRVINE High Street, 154-156 0.44 6.75 Feb 2008 EDINBURGH Frederick Street, 20 2.25 n/a Jun 2007 IRVINE High Street, 168 0.80 5.00 Feb 2007 EDINBURGH Frederick Street, 7a 1.50 5.17 Nov 2007 KILMARNOCK Portland Street, 68 0.99 n/a Feb 2007 EDINBURGH George Street, 35a 2.80 3.43 Aug 2007 KIRKCALDY Forth Avenue, 1 0.80 n/a May 2006 EDINBURGH George Street, 52 3.31 4.00 Sep 2006 KIRKCALDY High Street, 103 1.10 4.75 May 2006 EDINBURGH George Street, 63-65 7.90 n/a Jan 2007 KIRKCALDY High Street, 128-130 0.83 5.48 Oct 2007 EDINBURGH George Street, 72-74 6.05 4.57 Sep 2007 KIRKCALDY High Street, 128-130 0.83 6.02 Oct 2007 EDINBURGH Gorgie Road, 194-196 0.23 5.79 Apr 2006 KIRKCALDY High Street, 153-163 4.88 4.59 Oct 2006 EDINBURGH Hamilton Place, 6 0.23 5.25 Sep 2007 KIRKCALDY High Street, 83/85 0.45 7.40 Sep 2007 EDINBURGH Hanover Street, 7-11 3.85 4.91 May 2006 KIRKINTILLOCH Cowgate, 25 0.41 6.24 May 2006 EDINBURGH Howard Street, 8&9 0.22 5.25 Aug 2007 KIRKINTILLOCH High Street, 55-57 1.06 6.20 Jun 2007 EDINBURGH Howe Street, 23A 0.33 5.33 Sep 2007 LARGS Aitken Street, 2-6a 2.03 5.47 Oct 2007 EDINBURGH Hunter Square, 2 0.85 5.00 May 2007 LEVEN High Street, 45-47 3.55 5.64 May 2007 EDINBURGH Morningside, 219 0.31 5.62 Apr 2006 MOFFAT Bath Place, 4 0.35 5.58 Feb 2007 EDINBURGH Morrison Street, 83 0.24 5.38 Mar 2007 MOTHERWELL Brandon Parade 4.75 n/a Aug 2006 EDINBURGH Nicolson Street, 90 0.24 5.53 Dec 2007 MUSSELBURGH High Street, 124 0.53 n/a Apr 2006 EDINBURGH Princes Street, 104 18.20 4.05 Sep 2006 MUSSELBURGH High Street, 84 0.32 6.17 Mar 2008 EDINBURGH Princes Street, 121-123 11.80 n/a Feb 2008 NAIRN High Street, 33 0.21 7.18 May 2007 EDINBURGH Princes Street, 30/31 26.75 4.67 Jun 2006 OBAN George Street, 100 0.29 7.27 Nov 2007 EDINBURGH Princes Street, 62 10.25 4.15 Jun 2007 OBAN George Street, 107-109 0.54 5.50 Jun 2007 EDINBURGH Princes Street, 88 6.70 5.15 Jun 2007 PERTH High Street, 161 0.97 5.02 Mar 2007 EDINBURGH Princes Street, 90A 3.43 4.97 Oct 2007 PERTH High Street, 91-97 4.40 4.94 Nov 2007 EDINBURGH Raeburn Place, 17 0.53 4.50 Mar 2007 PERTH St John Street, 50 1.48 4.79 Jul 2006 EDINBURGH Royal Mile 0.59 3.99 Jun 2007 PITLOCHRY Atholl Road, 108 0.71 6.14 Sep 2007 EDINBURGH Shandwick Place 6.95 5.05 Nov 2006 PRESTONPANS Main Street 2.75 5.88 Apr 2007 EDINBURGH Shandwick Place, 6-8 2.40 4.33 Mar 2007 RUTHERGLEN Main Street, 96-102 1.50 5.93 Jun 2006 Section 5A - 8 The UK Property Investors Directory - 2008 Edition Geographical Listing of UK Investment Transactions TOWNSTREET PRICE YIELDDATE SECTOR PURCHASER(s) VENDOR(s) COMMENT ASHFORD Norman Road Retail Park £17.36m 4.75%Mar 2007 Retail FPLAL Commercial Fund ( CRE) Gallagher Developments (Edgerley Simpson Howe & 4,110m² T:Halfords, Pets at Home, Currys, Paul Simon Warehouse Partners) ASHFORD Northgate House £1.35m n/a Apr 2007 Office Undisclosed Private trust (D E & J Levy) Northgate Street

ASHINGTON £4.00m n/a Oct 2007 Retail Terrace Hill Group Plc Asda Plc 3.3 acre retail warehouse development site Warehouse ASHINGTON Station Road, 43-43a £0.90m 5.60%Jul 2007 Retail London based investor (GVA Grimley) Private investor (Storey Sons & Parker) T: BHF, Stead & Simpson

ASHTON-UNDER-LYNE Arcades Shopping Centre £84.03m 4.60%Dec 2006 Shopping Anglo Irish Bank Portfolio Holdings Plc (DTZ) 15,419m² Centre Apollo Real Estate (Strutt & Parker) ASHTON-UNDER-LYNE St Petersfield £9.67m 7.72%May 2006 Office Prestigic Holdings Ltd (CB Richard Ellis) Ask Developments (Cushman & Wakefield) 5,110m² R:£698,000 T:Pennine Care NHS Trust CPS:162

AVONMOUTH Access 18, Third Way £1.92m 5.71%Sep 2007 Industrial Royal Liver Assurance (AtisReal) St Modwen Plc (Alder King) 1,742m² T:Antalis Ltd LL:20

AVONMOUTH Severnside Trading Estate £7.60m 6.47%Oct 2007 Industrial COBA Asset Management (Savills) Rockspring PIM Ltd (Lambert Smith Hampton) 11,148m² - 18 multi-let warehouse units

AYLESBURY Bell Business Park £4.90m 6.60%Jan 2008 Business Hill Road Properties Ltd () Status Property Group (DTZ) 3,019m² Park AYLESBURY Brunelgate, Units A1-E10 £4.00mn/a Aug 2006 Industrial GE Pensions Ltd (GVA Grimley) Undisclosed

AYLESBURY Friars Square £89.50m 5.13%Nov 2007 Shopping Multiplex Developments () F&C Asset Management (CB Richard Ellis) 28,427m² R:£5,000,000 - Improvements planned Centre CBRE Investors (Colin Buckle & Co) AYLESBURY Gatehouse Road, Toyota £2.47m 5.74%Sep 2007 Industrial National Australia Bank (King Sturge) Camden Ventures (Lambert Smith Hampton) 877m² R:£150,000 T:Steven Eagell Ltd LEX:11/2026

AYLESBURY HBOS Campus, Walton St £32.33mn/a Nov 2006 Office Edgehill Westport (Strutt & Parker) Undisclosed

AYLESBURY High Street, 8 £1.05m 6.56%Mar 2008 Retail Private property company (Behrens Sharp) REIT Asset Management (Smith Price) 202m² R:£72,500 T:Body Shop International LL:2

AYLESBURY Vale Park Drive £10.50m 5.44%Mar 2008 Retail Private Dutch client (HP Four) Morley Fund Management (Montagu Evans) 3,716m² T:B&Q Warehouse AYLESFORD Larkfield Mill Ind Estate £23.97m 6.35%Jun 2007 Industrial O Twelve Estates Ltd F&C Asset Management (NB Real Estate) 29,728m²

AYR Central Retail Park £3.55m 5.94%Apr 2006 Retail MRC Pension Trust (Eric Young & Co) WG Mitchell Ltd (Culverwell & Co) 1,412m² - 2nd phase R:£223,154.50 T:various Warehouse AYR Heathfield Ind Estate £2.23m n/a Dec 2006 Industrial J&L Wilson Developments Sydney & London (DTZ) 3,731m² T:Booker Cash & Carry

AYR High Street, 114 £1.37m 6.23%Dec 2006 Retail Private investor (Donaldsons) Private investor (Culverwell & Co) T:H Samuel LL:5

AYR High Street, 134-136 £2.39m 4.89%May 2007 Retail Undisclosed PRUPIM (Culverwell & Co) 143m² R:£123,650 T:Monsoon Accessorize Ltd

AYR High Street, 155 £2.40m 4.50%Sep 2006 Retail Freehold Prop & Invest (Smith Cole Wright) Royal Liver Assurance (Gilfillan Paterson) 105m² T:Holland & Barrett, Orange

AYR High Street, 165/179 £4.30m 4.96%Aug 2007 Retail Nissan UK Ltd Pensions () Retail Plus Property (Alan Watt & Co) 666m² R:£225,500 T:Country Casuals, Hutchison, Thornton

AYR High Street, 218 £0.95m5.15%Jun 2007 Retail Private investor (AtisReal) Undisclosed (Winton Faith)

AYR High Street, 85-87 £1.10m 6.17%Mar 2007 Retail Arrowcroft (JB) Ltd Peckwood Ltd (Culverwell & Co) R:£85,500 T:Rosebys

AYR Ivy House, Alloway £1.25mn/a May 2007 Retail Undisclosed Tony Khalastchi (Colliers CRE)

AYR Kyle Centre & Arran Mall £36.00m n/a Mar 2008 Shopping Cairnduff Developments (Savills) Undisclosed (Jackson Criss) 16,722m² - 2 shopping centres CPS:500 Centre AYR Newmarket Street, 61 £0.22m 5.77%Aug 2007 Retail R Capper (Culverwell & Co) Private client R:£13,050 T:HMC Holdings

The UK Property Investors Directory - 2008 Edition COMMENT KEY: A:Anchor L:Lease LEX:Lease Expiry LL:Lease Length R:Rent RR:Rent Review T:Tenant TBO:Tenants Break Option Section 5B - 5 The UK Property Investors Directory 2008 – Order Form

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