INVESTMENT FOR SALE

SPITALFIELDS E1 — 01 — INVESTMENT SUMMARY

RARE CITY-FRINGE INVESTMENT OPPORTUNITY

The investment comprises a Grade II listed five story building with an additional mezzanine floor located centrally within Spitalfields on the eastern side of Commercial Street.

Stretching from Aldgate East to , Commercial Street has become the artery which connects the financial district of the city to the tech hub of the Silicon Roundabout.

The building is fully let to two strong covenants: National charity Crisis UK occupy the ground floor and basement on a long lease expiring 2030.

Upper floors fully let to computer training college Makers Academy until 2020. DETAILS

Freehold — 14,839.22 sq ft GIA (12,274 sq ft NIA) — Retail Space 5,740.78 sq ft GIA (4,607 sq ft NIA) — Office Space 9,098.44 sq ft GIA (7,667 sq ft NIA) — Current net rent being produced is £520,257 pa — Potential ERV is £647,478 pa — Offers are invited in the region of £11,000,000 plus VAT reflecting a yield of 4.75% ST PAUL’S CATHEDRAL

30 ST MARY AXE TOWER OF THE GHERKIN

ALDGATE STATION

THE BROADGATE ESTATE ALDGATE EAST STATION 5 BROADGATE LIVERPOOL STREET UBS HQ STATION

FRUIT & WOOL EXCHANGE RBS

ALLEN & OVERY LLP

SPITALFIELDS MARKET

PRINCIPAL PLACE AMAZON UK HQ

TRUMAN BREWERY

THE STAGE

BRICK LANE SHOREDITCH HIGH STREET STATION — 02 — LOCATION

Commercial Street, which for all intents and purposes should be named Spitalfields High Street, has become home to some of the best eating, drinking and shopping establishments in the capital.

This is largely due to the Spitalfields regeneration programme which was completed in 2005. The regeneration of and the creation of two new public spaces, Bishops Square and Crispin Place have been the catalyst for the SPITALFIELDS MARKET recent and continuing transformation of the area in to a major hub for the creative, tech, fashion and art industries. Some of the world famous brands that occupy the area include: All Saints; Belstaff; Hackett, LuluLemon; Chanel and Jigsaw. These international brands are complimented by high quality independent occupiers such as Grenson, Albam Clothing, Bethnals, Joshua Kane Bespoke and K-Way.

With and Shoreditch on one side and the City on the other, Commercial Street is the ever bubbling melting pot where both worlds meet. — 4 03 —

GREAT EASTERN ST LOCAL OCCUPIERS 9 5

BETHNAL GREEN ROAD CHESHIRE ST Highly sought after for both its commercial and residential value, SCRUTTON ST Shoreditch & Spitalfields provides a hub for a number of international BOXPARK businesses and a playground for those who live and work in the area. 8 SHOREDITCH HIGH ST 12 10 Boasting an eclectic mix of tenants, tech giants Amazon and Uber sit WORSHIP ST 3 11 QUAKER ST BUXTONalongside ST RBS and Bloomberg, UBS and Bacardi. Boxpark Shoreditch mall

6 7 COMMERCIAL ST houses a range of independent shops and restaurants while the likes BRICK LANE BRICK

SHOREDITCH HIGH ST of Nobu and Shoreditch House are just a stone’s throw away. TRUMAN BREWERY 2 CLIFTON7 ST PRIMROSE ST 6 High-profile developments in immediate proximity coupled with exciting 8 7 LAMB ST 3 HANBURY ST new housing and mixed-use developments only promise to further 9 3 1 APPOLD ST SUN ST SPITALFIELDS boost the area’s market value. BROADGATE MARKET CIRCLE 3 2 GREATOREX ST 2 1 WILSON ST BRUSHFIELD ST LIVERPOOL ST 1 11 5 1 NEARBY NEARBY INSURANCE MEDIA & ARTILLERY LANE PROFESSIONAL DEVELOPMENTS & FINANCIAL TECHNOLOGY FASHION ST — — — — 7

12 ST 1. Bacardi 1. London Fruit 1. RBS 1. WeWork 12 Wool Exchange 11 2. Allen & Overy 2. UBS 2. Second Home 2. 100 Bishopsgate 1 3. RBB Economics 3. Deutsche Bank 3. Amazon 9 3. One Crown Place COMMERCIAL ST 4. Salesforce 4. Swiss RE 4. Runway East 4. Art’otel, LONDON WALL 5. Ashurst (2018) Great Eastern Street 5. CMC Markets 5. Mother DEVONSHIRE SQUARE WENTWORTH STREET 6. Clyde & Co OLD BORAD ST 5. 22 Bishopsgate 6. Allied Irish Bank 6. Factset 10 GOUSTON ST 10 7. Pinsent Masons 6. 13-14 Appold Street 7. Tullet Prebon 7. SapientNitro BISHOPSGATE4 8. Herbert Smith 7. Blossom Street 8. Westpac Group 8. Williams Lea Tag 8 HOUNDSDITCH ALDGATE Freehills 5 EAST 9. Bloomberg 2 8. The Stage 9. Uber 12 6 9. Squire Patton Boggs 10. Trireme Insurance 10. Smart Focus 11 BEVIS MARKS 9. Shoreditch Village 9 10. McDermott 8 Will & Emery 10. The Goodsyard 11. Royal Bank of Canada 11. Currencycloud 5 10 (2018) ALDGATE HIGH ST. 11. Northumbria 11. Principal Place 12. Google Campus University 12. IHS Global 4 12. 100 Liverpool Street 6 12. Coventry University — 04 —

COMMUNICATION

50-52 Commercial Street is surrounded by an enormity of transport links in this extremely well-connected city-fringe location.

Aldgate East, which is situated at the junction of Commercial Street and Whitechapel High Street, is the closest underground station with access to both the and City and District lines.

A close second to the proximity of Aldgate East is London , the third busiest train station in Great Britain. This central overground train terminus also provides access to four underground lines: Central — Circle — Hammersmith & City — Metropolitan TRANSPORT LINKS

Equally, Shoreditch High Street overground station is located only a ten minute walk away BAKER KINGS CROSS LIVERPOOL STREET ST. PANCRAS FARRINGDON STREET from the building. 32 mins 18 mins 12 mins 12 mins 3 mins

Further to the fantastic connections also provided by

the local bus routes, the area is soon to benefit from WHITE NOTTING BOND CITY HILL GATE STREET CIRCUS COURT RD BANK the introduction of Crossrail’s new Elizabeth Line at ALDGATE Liverpool Street Station. The new Elizabeth line is set to ALDGATE EAST 3 mins 18 mins 18 mins 18 mins 4 mins be completed August 2019 and will connect Reading 18 mins 18 mins 18 mins 18 mins and Heathrow in the west through central tunnels across to Shenfield and Abbey Road in the east. The line will stop at 41 accessible stations and is expected to serve HAMMERSMITH VICTORIA EMBANKMENT MONUMENT 200 million people a year. 32 mins 17 mins 13 mins 4 mins 2 mins — 05 — KEY DEVELOPMENTS

FRUIT & WOOL THE BISHOPSGATE PRINCIPAL EXCHANGE GOODSYARD PLACE

The London Fruit and Wool Exchange is A joint venture between Hammerson Principal Place is a new destination on one of the largest developments in London and Ballymore Properties. Worship Street in the heart of Spitalfields, and will deliver 320,000 sq ft of new grade developed by Brookfield and designed by A space including 260,000 sq ft of office The Goodsyard is the name of the Foster and Partners. and 40,000 sq ft of retail, restaurant, café, former Bishopsgate Goods Yard site SME and community space. around Shoreditch High Street Station. The 600,000 sq ft, 15 storey office building It is approximately 4.4ha in size which is with nearly an acre of roof terraces has The office element is fully pre-let to silver the same as about 7 football pitches. been the new home of Amazon since 2017. circle legal firm Ashurst, and the building has been developed in partnership with The current planning application is for: Principal Place also features 20,000 sq M&G. The clothing brand Uniqlo have ft of restaurants, shops, a boutique gym pre-let a significant amount of retail 180 residential units and a vibrant half-acre public piazza which space on the ground floor. — is activated by year round arts and events 13,000 sqm of commercial space programs. This mixed use development — 15,000 sqm of retail space + hotel will also include a 50 storey residential — building. All due for completion 2019. And a new public park — 06 — NEARBY DEVELOPMENTS

100 BISHOPSGATE 22 BISHOPSGATE SHOREDITCH VILLAGE — EC2 — EC2 PHASE II — E1

Developer Brookfield Developer Developer Brockton Capital Use Office AXA Real Estate/Lipton Rogers Use Office and retail Size 878,693 sq ft Use Office and retail Size 96,000 sq ft (gross) Completion Q4 2018 Size 1,380,000 sq ft Completion 2020 + (estimate) Comments 118,000 sq ft to Jefferies Completion Q4 2019 Comments Group and 218,500 sq ft to Royal Comments Under construction Subject to planning Bank of Canada with option for further 50,000 sq ft.

LONDON FRUIT & LONDON SQUARE THE GOODSYARD WOOL EXCHANGE — E1 SPITALFIELDS — E1 — E1

Developer Exemplar/M&G Developer London Square Developer Hammerson & Ballymore Use Office & retail Use Office, Residential Use Office, residential and retail Size 320,000 sq ft Size 10,503 sq ft & 63 flats Size 700,000 sq ft Completion Q1 2018 Completion Q2 2019 Completion 2020 + Comments The office space Comments Under construction Comments Subject to planning is fully pre-let to Ashurst

ONE CROWN PLACE BLOSSOM STREET PRINCIPAL PLACE — EC2 — E1 — EC2

Developer MTD Alloy Metals Developer British Land Developer Brookfield/ ENPAM Use Office, hotel, members club Use Office, residential and retail Use Office, retail and residential and retail Size 347,000 sq ft & 46 C3 units Size 634,000 sq ft & 301 C3 units Size 166,840 sq ft & 246 C3 units Completion 2020 / 2021 (estimate) Completion Q3 2017 Completion 2020 Comments Comments Offices 100% Comments Planning consented pre-let to Amazon Under construction

84-86 GREAT EASTERN THE STAGE 100 LIVERPOOL ST STREET & 1-3 — EC2 — EC2 RIVINGTON STREET — E1

Developer Plough Yard Developments Developer AXA Real Developer Aspirations Ltd Use Office, residential and leisure Estate/Lipton Rogers Use Office and hotel Size 220,000 sq ft & 412 C3 units Use Office and retail Size 55,000 sq ft & 318 bed hotel Completion Q2 2019 Size 520,000 sq ft Completion 2021 + (estimate) Comments Completion Q4 2019 Comments Office space fully pre-let to WeWork Comments Under construction Hotel space to be occupied by Art’otel

— — G & B FLOORS 1 ST, 2ND, 3RD & MEZZANINE FLOORS — —

Founded in 1967, Crisis is one of the biggest and Makers Academy is a 12-week computer programming ever growing charities in the UK. bootcamp in London.

Being the UK national charity for single homeless people. It was founded by Rob Johnson and Evgeny Shadchnev in The charity offers year-round education, employment, housing December 2012 and is designed to turn people with and well-being services from centres in London, Newcastle, no knowledge of web development into job-ready junior Oxford, Edinburgh and Merseyside, called Crisis Skylight Centres. developers in 12 weeks.

As well as year-round services Crisis runs Crisis at Christmas, The Firm are so confident in their teaching methods that which since 1972 has been offering food, warmth, each student is guaranteed a full refund if they fail to get a companionship and vital services to homeless people job in industry after graduating. over the Christmas period. Initially taking only second and third floors with mezzanine In 2016 almost 4,600 homeless people visited Crisis – after just one year Makers Academy expanded and at Christmas, which was run by approximately acquired the additional space on the first floor. 10,500 volunteers. — 07 — TENANCY SCHEDULE

CURRENT LEASE START LEASE EXPIRY RENT BREAK ESTIMATED FLOOR TENANT USE CLASS AREA SQ FT RENT DATE DATE REVIEW CLAUSE RENTAL VALUE

BASEMENT EVERY 5TH 2,458 & CRISIS YEAR FROM MUTUAL ON B1/A1/A2 — £165,000 01/07/2015 01/07/2030 £225,743 GROUND UK LEASE 22/08/2022 2,149 FLOOR START DATE

FIRST B1 2,236 £100,000 16/11/2015 18/11/2020 NONE NONE £122,980 FLOOR

SECOND MAKERS B1 2,193 £120,615 FLOOR ACADEMY

£255,257 01/12/2014 16/11/2020 NONE NONE

THIRD FLOOR & B1 3,238 £178,090 MEZZANINE

NET AREA: 12,274 £520,257 £647,478 TOTALS GROSS AREA: 14,839 + VAT + VAT — 08 GROSS AREA: 14,839 FT — FLOORPLANS

BASEMENT GROUND FLOOR 1ST FLOOR

2ND FLOOR 3RD FLOOR MEZZANINE TENURE PROPOSAL — — Freehold Offers are invited in the region of £11,000,000 plus VAT.

EPC A purchase at this level reflects a net initial yield of 4.75%, and a — The property has a low capital value on the NIA D (81) rating of £896 per sq ft.

OFFICE: 020 7377 8989

JEREMY TARN ARTHUR NOWICKI

[email protected] [email protected] 0207 456 9695 0207 456 9693

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These particulars do not constitute an offer or a contract. Applicants should satisfy themselves as to the correctness of the details. Value added tax may be payable on rents, prices or premiums. Photographs are for illustration only and may depict items which are not included in the sale of the property. Map data ©2018 Google Maps.