Morgan Stanley December 2016 Report & Valuation CityPoint, One Ropemaker Street, London EC2 savills.co.uk 14 December 2016 Ian Malden E:
[email protected] Ref: WEVA380886/EMCS/CEHA DL: +44 (0) 207 409 8894 Morgan Stanley Fixed Income & Commodities 33 Margaret Street 20 Bank Street London Floor 03 W1G 0JD Canary Wharf savills.com London E14 4AD For the attention of Dominic Rea Dear Sirs, BORROWER: BSREP CITYPOINT BIDCO LIMITED PROPERTY: CITYPOINT, ONE ROPEMAKER STREET, LONDON EC2Y 9AW In accordance with the instructions as confirmed in our letter dated, 14 December 2016, we have inspected the property, a landmark multi-let freehold City investment, and made such enquiries as are sufficient to provide you with our opinion of value on the bases stated below. Our letter confirming instructions is enclosed at Appendix 1. We draw your attention to our accompanying Report together with the General Assumptions and Conditions upon which our Valuation has been prepared, details of which are provided at the rear of our report. We trust that our report meets your requirements, however should you have any queries, please do not hesitate to contact us. Yours faithfully For and on behalf of Savills Advisory Services Limited EDWARD SHAKESPEARE MRICS CHARLOTTE ASCHAN MRICS IAN MALDEN MRICS RICS Registered Valuer RICS Registered Valuer RICS Registered Valuer Director Director Director Offices and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East. Savills Advisory Services Limited. Chartered Surveyors. A subsidiary of Savills plc. Registered in England No. 6215875. Registered office: 33 Margaret Street, London, W1G 0JD Report & Valuation CityPoint, One Ropemaker Street, London EC2Y 9AW Contents Executive Summary 1 1.