THE KENSINGTON COLLECTION

KENSINGTON VILLAGE, , W14 THE

BEAUMONT KENSINGTON HOUSE COLLECTION

ABINGDON HOUSE

SPUR LODGE

THREE DISTINCTIVE BUILDINGS, OFFERING NUMEROUS ASSET MANAGEMENT OPPORTUNITIES WITHIN KENSINGTON VILLAGE

02 | 03 WEST LONDON’S PREMIER PRIVATE GATED OFFICE INVESTMENT CAMPUS SUMMARY

Located in the heart of Kensington Village, West London’s premier private gated office campus Moments from & Kensington Olympia Underground Stations Immediate surrounding area being spearheaded by the major redevelopment of Earl’s Court & Olympia London - the largest regeneration site in Central London Virtual Freehold 92,255 sq ft (8,570.8 sq m) The collection comprises a HQ warehouse style office building together with a mixed-use, stand-alone building and a smaller self-contained office situated around an attractive central courtyard Multi-let producing a total income of £3,548,682 per annum Ultra-low average passing rent (including rental guarantees) of only £38.47 per sq ft Kensington Village rents stand at £52.50 per sq ft – a significant discount to neighbouring & Kensington markets which are approximately £60.00 per sq ft Staggered lease expiries from late 2018 until 2022 Numerous asset management opportunities including either a phased refurbishment or a more comprehensive scheme with full vacant possession in 2022 Opportunity to add additional floor area, as evidenced at the Warwick Building, where planning was granted for two additional floors of residential use Offers are invited in excess of £65,000,000 Net initial yield: 5.11% (assuming purchasers’ costs of 6.8%) Net initial yield rising to 5.28% upon the documentation of the agreed rent reviews in Beaumont House Reversionary yield: 6.74% Very low capital value of only £705 per sq ft reflecting a 15% discount to the recently traded Gloucester Building

04 | 05 EARL’S COURT EARL’S COURT NATURAL HISTORY REGENERATION MUSEUM STATION

BUCKINGHAM THE THE BATTERSEA CITY PALACE PARK HYDE KENSINGTON PARK COLLECTION

CROMWELL ROAD

KENSINGTON HIGH STREET WEST KENSINGTON STATION

06 | 07 THE LOCATION

KENSINGTON VILLAGE IS LOCATED BETWEEN KENSINGTON VILLAGE OLYMPIA LONDON The distinctive campus is positioned directly to the north Olympia London is the largest exhibition centre in central KENSINGTON AND HAMMERSMITH, LESS of West Cromwell Road (A4), between North End Road London and the third largest in the UK. The iconic venue to the west and Warwick Road to the east. Pedestrian is home to a range of international trade and consumer THAN THREE MILES FROM KNIGHTSBRIDGE access to the village is provided via two entrances from the exhibitions, conferences and events. A4 and vehicular access is via Avonmore Road through AND MAYFAIR IN THE WEST END OF LONDON a 24/7 security gatehouse or separately from Stanwick In September 2017, it was announced that Heatherwick Road and Mornington Avenue. Studio, in collaboration with SPPARC Architects, will be leading the architectural enhancement of Olympia London. Kensington Village has always attracted a range of major corporate and media occupiers including RDF Media, The project will see the 130-year-old exhibition centre Universal Music and CACI. To the north of Kensington based on a 14-and-a-half-acre site, transformed into Village is the internationally renowned exhibition and a world-leading arts, entertainment, exhibition and leisure venue of Olympia London and directly to the south experiential district. Heatherwick Studio has been tasked is the Earl’s Court regeneration scheme. with improving the current customer offer with enhanced communal areas and retail units whilst retaining its iconic features. 08 | 09 Two crescents, garden squares and a new public space the size of Sloane EARL’S COURT DEVELOPMENT 77 Square ACRES REGENERATION SCHEME

The 77-acre and £12 billion regeneration is the largest in central London and is owned by three partners involved in The Earl’s Court Project; EC Properties LP (a wholly owned subsidiary of Capco), the London Borough of Hammersmith & and Transport for London. 7. 5 K NEW HOMES The Masterplan has been devised by Sir Terry Farrell and revolves around four new urban villages and a high street. The villages will include around 7,500 new homes as well as the creation of approximately 10,000 jobs. In addition, 7.5 acres of green space will be created.

Transport benefits include substantial improvements to Earl’s Court, and West Kensington Underground stations, a new north south thoroughfare and additional bus routes. Construction works started on Phase One in January 2015. 10 K NEW JOBS Computer generated image

MAP OF PROPOSED

SCHEMEE A creative vision for a classical landscape of crescents, squares and parks

Computer generated image

Map shown for illustrative purposes only. Not to scale.

10 | 11 COMMUNICATIONS 8 28 19 MINS TO MINS TO MINS TO

EXCELLENT TRANSPORT LINKS VIA PADDINGTON HEATHROW AIRPORT KING’S CROSS ST PANCRAS District line from Earl’s Court District line from Earl’s Court to Paddington Piccadilly line from Earl’s Court NUMEROUS UNDERGROUND STATIONS, then Heathrow Express BUS ROUTES AND THE ROAD NETWORK

Kensington Village benefits from excellent transport links, with five underground stations all within walking distance, providing direct connectivity to the District and Piccadilly lines respectively and enabling quick access across central London. 7 12 10 In addition, Kensington Village also benefits from easy access to significant London mainline MINS TO MINS TO MINS TO railway stations including London Paddington, London Victoria and London Waterloo, providing links beyond the capital. CLAPHAM JUNCTION LEICESTER SQUARE VICTORIA Kensington Village can also be reached via car directly from the A4 thoroughfare, Southern Rail from West Brompton Piccadilly line from Earl’s Court District line from Earl’s Court which leads through London to the east and provides quick access to the M4 Motorway to the west. Source: TfL

Map shown for illustrative purposes HYDE MAYFAIR only. Not to scale. SHEPHERD’S PARK Shepherd’s Bush Market BUSH KENSINGTON GARDENS Shepherd’s Kensington Bush Palace

W12 HOLLAND KENSINGTON KENSINGTON Shopping Centre PARK VILLAGE ET RE A4 ST H Goldhawk IG Road H N TO G WEST CROMWELL ROAD SIN D EN Royal Albert WARWICK ROAD A KENSINGTON K EARL’S COURT O Hall

R Design H KNIGHTSBRIDGE S Museum U WEST B

S ’ Kensington KENSINGTON D R Olympia E H EARL’S COURT P Science Museum RAVENSCOURT E EARL’S COURT H V&A S VILLAGE PARK Olympia Museum

Natural History

London W Museum REGENERATION A R W NORTH END ROAD Kings Mall IC K A4 Shopping R ROAD AD O CROMWELL Ravenscourt Centre RO A H D Park IT ERSM Gloucester HAMM Neil’s Jazz Road South and Blues Kensington WEST

TREET Hammersmith KING S D ROAD BROMPTON L R LILLIE HAMMERSMITH EL W NORTH END M Earl’s OAD A4 CRO D BROMPTON R WEST BROMPTON Broadway EST Court OL VILLAGE TA W M4 Shopping Centre LGAR A4 TH ROAD VILLAGE Eventim E West LILLIE SQUARE G Apollo Barons Kensington ID R Court Earl’s Court B F N U O H L R Regeneration IT H T A H M M

S E R E P N A FULHAM M L D A D M R A C The Queen’s O A O R E Club IE CHELSEA H A L R IL D L O West Brompton A D FULHAM

BARNES 12 | 13

Stamford Bridge THE KENSINGTON COLLECTION

The Kensington Collection comprises three self-contained buildings of high quality office, restaurant and leisure accommodation. Beaumont House has a rich history and was originally constructed in 1892 as part of the former Whiteley’s Furniture Depositary. It has more recently been converted into office accommodation and has benefitted from numerous rolling refurbishments that have maintained many original features and unique qualities that are highly sought after by modern occupiers. As a converted warehouse, the space is presented in a distinct and characterful style, benefitting from a Grade A specification, impressive floor to ceiling heights and excellent levels of natural light.

The restaurant and gym amenities offered in Abingdon House along with the open green space and outdoor seating ensure that Kensington Village provides a high-quality working environment. Finally, Spur Lodge is a smaller self-contained office building on the western side of the village.

The total area of Beaumont House, Abingdon House & Spur Lodge is 92,255 sq ft (8,570.8 sq m).

BEAUMONT A HOUSE V O N M O CACI R E R HOUSE O A D

AVON SPUR HOUSE LODGE ABINGDONABINGDON HOUSEHOUSE

A KENSINGTON VO N GLOUCESTER M VILLAGE O WARWICK HOUSE R E R HOUSE O A D

Plan shown for illustrative purposes only. Not to scale. PEMBROKE HOUSE 14 | 15 BEAUMONT HOUSE

16 | 17 DESCRIPTION BEAUMONT HOUSE Beaumont House provides 81,352 sq ft (7,557.9 sq m) of office accommodation arranged over ground and four upper floors. Access is afforded via a central core and lobby area, making the building highly flexible in its configuration and allowing for subdivision. The Property benefits from the use of 33 undercroft car parking spaces that are currently let to Universal Music Limited. KENSINGTON VILLAGE

TENANCY

Universal Music Limited occupies 59% of the space within Beaumont House. The vacant areas on part fourth and part third, formerly occupied by Universal Music, are offered with the benefit of a twelve month rental guarantee. Beaumont House generates an annual topped up rental income of £3,284,537, reflecting a low overall rent of £40.37 per sq ft.

TYPICAL UPPER FLOOR PLAN

FOURTH FLOOR LAYOUT

GROUND FLOOR PLAN

Plans shown for illustrative 18 | 19 purposes only. Not to scale.

GROUND FLOOR 20 | 21 DESCRIPTION

Abingdon House provides 9,562 sq ft (888.3 sq m) of office, restaurant and leisure accommodation arranged over ground ABINGDON and first floors. The ground floor comprises a large, open plan restaurant, offering both counter and table service. A fully fitted ABINGDON gym and studio, along with shower and changing facilities, is HOUSE provided with direct access from the courtyard. The first floor HOUSE provides self-contained office accommodation benefitting KENSINGTON from exceptional floor to ceiling heights and large levels of VILLAGE natural light from its dual frontage and excellent fenestration. Abingdon House benefits from the use of three surface car parking spaces.

Plan shown for illustrative purposes only. Not to scale. TENANCY

The Property is let to Universal Music Limited and Village Fayre Limited, whilst Kensington Village Management Limited also operates a gym for the benefit of occupiers in the Village. Abingdon House generates an annual rental income of £224,500 per annum.

22 | 23 DESCRIPTION

The smallest of the three buildings, Spur Lodge totals SPUR 1,341 sq ft (124.6 sq m) and provides office space over ground and first floors. SPUR LODGE LODGE KENSINGTON TENANCY VILLAGE

The Property is occupied by Kensington Village Management Limited, from which the Estate Office operates, and Spur Lodge Limited over the separately accessed first floor. The Plan shown for illustrative Property generates an annual rental income of £39,645. purposes only. Not to scale.

24 | 25 FLOOR AREAS TENURE

The Property has been measured by Armada Surveys in accordance with the RICS Code Beaumont House, Abingdon House and Spur Lodge are all held by way of a virtual of Measuring Practice (6th Edition) to provide the following net internal and freehold interest for a term of 999 years from 22 February 2000 (981 years unexpired) gross internal areas: at a peppercorn.

The freehold is held by Kensington Village Management Limited (“KVML”), a non-profit NIA GIA making corporate entity that represents the interest of each of the virtual freeholders FLOOR USE SQ FT SQ M SQ FT SQ M within the Village. KVML is a current tenant within Spur Lodge and has reported neither a profit or a loss for the last three years. BEAUMONT HOUSE Each virtual freeholder shares a proportion of the shares in KVML based on the extent of its ownership. As such, the Vendor holds a stake of 31%. 4th Floor Office 16,967 1,576.3 20,232 1,879.6

3rd Floor Office 16,860 1,566.4 20,205 1,877.1 N 2nd Floor Office 16,649 1,546.7 19,896 1,848.4

1st Floor Office 16,654 1,547.2 19,896 1,848.4

Ground Floor Office 14,222 1,321.3 19,968 1,855.0 AVONMORE ROAD

CACI HOUSE

BEAUMONT HOUSE TOTAL 81,352 7,557.9 100,197 9,308.5

ABINGDON HOUSE

AVON 1st Floor Office 4,771 443.2 5,451 506.4 STANWICK ROAD HOUSE

Ground Floor Restaurant 4,791 445.1 5,451 506.4

ABINGDON HOUSE TOTAL 9,562 888.3 10,902 1,012.8

WARWICK BUILDING GLOUCESTER SPUR LODGE BUILDING KENSINGTON VILLAGE 1st Floor Office 1,041 96.7 1,208 112.2

Ground Floor Facilities Management Office 300 27.9 415 38.6

SPUR LODGE TOTAL 1,341 124.6 1,623 150.8 PEMBROKE HOUSE

This plan is published for convenience THE KENSINGTON COLLECTION TOTAL 92,255 8,570.8 112,722 10,472.1 of identification. Any site boundaries EST CROMWELL ROAD shown are indicative only and should W be checked against Title Deeds.

26 | 27 TENANCY SCHEDULE

FLOOR USE TENANT AREA AREA LEASE START LEASE EXPIRY RENT REVIEW NEXT RENT RENT COMMENTS SQ FT SQ M DATE DATE DATE BREAK PER ANNUM PER SQ FT

BEAUMONT HOUSE

Part Fourth Floor North Office ADM Promotions UK Limited 6,788 630.6 07/07/2010 06/07/2020 - - £267,800 £39.45 Lease outside of the Landlord and Tenant Act 1954. Part Fourth Floor South Office Vacant 10,081 936.6 - - - - £529,253 £52.50 12 month rental guarantee to be provided by the Vendor. Part Third Floor North Office Universal Music Operations Limited 9,893 919.1 20/08/2012 19/08/2022 20/08/2017 - £355,355 £35.92 Lease outside of the Landlord and Tenant Act 1954. Lease includes 10 car parkings spaces & awaiting documentation. Rent review agreed at £406,120 per annum. Part Third Floor South Office Vacant 6,957 646.3 - - - - £365,243 £52.50 12 month rental guarantee to be provided by the Vendor. Part Second Floor North Office Universal Music Operations Limited 5,982 555.7 22/06/2012 21/06/2022 22/06/2017 - £208,495 £34.85 Lease outside of the Landlord and Tenant Act 1954. Lease includes 6 car parkings spaces & awaiting documentation. Rent review agreed at £238,280 per annum. Part Second Floor South Office Universal Music Operations Limited 10,655 989.9 01/08/2011 11/11/2018 - - £530,400 £49.78 Lease outside of the Landlord and Tenant Act 1954. Part First Floor North Office Eaglemoss Limited 9,748 905.6 14/01/2008 13/01/2018 14/01/2013 - £329,188 £33.77 Lease outside of the Landlord and Tenant Act 1954. Part First Floor South Office Universal Music Operations Limited 6,897 640.8 12/11/2008 11/11/2018 12/11/ 2013 - £221,664 £32.14 Lease outside of the Landlord and Tenant Act 1954. Part Ground Floor North Office Universal Music Operations Limited 7,086 658.3 02/07/2012 01/07/2022 02/07/2017 - £247,030 £34.86 Lease outside of the Landlord and Tenant Act 1954. Lease includes 7 car parkings spaces & awaiting documentation. Rent review agreed at £282,320 per annum. Part Ground Floor South Office Universal Music Operations Limited 6,861 637.4 12/11/2008 11/11/2018 12/11/2013 - £202,710 £29.55 Lease outside of the Landlord and Tenant Act 1954. Part Ground Floor Office Universal Music Operations Limited 261 24.2 01/12/2014 11/11/2018 - - £9,900 £37.93 Lease outside of the Landlord and Tenant Act 1954. 5 Car Parking Spaces Car Parking Universal Music Operations Limited - - 13/10/2017 12/10/2018 - 2 months’ notice £8,750 £1,750 Licence to use 5 car parking spaces. Mutual option to determine the licence, subject to a two month notice period. 5 Car Parking Spaces Car Parking Universal Music Operations Limited - - 13/10/2017 12/10/2018 - 2 months’ notice £8,750 £1,750 Licence to use 5 car parking spaces. Mutual option to determine the licence, subject to a two month notice period.

Subtotal - Beaumont House 81,209 7,544.6 £3,284,537

ABINGDON HOUSE

First Floor Office Universal Music Operations Limited 4,771 443.2 08/02/2013 28/09/2018 - 30/04/2018 £156,000 £32.70 Current rent of £125,000 per annum subject to a fixed uplift to £156,000 per annum from and including 8 Feb 2018 (to be topped up by the Vendor). Rolling tenant break option from 30 Apr 2018, subject to a three month notice period. Lease outside of the Landlord and Tenant Act 1954. Lease includes 5 car parking spaces. Part Ground Restaurant Village Fayre Limited 2,784 258.6 29/04/2013 N/A - - £52,000 £18.68 Tenancy at will in place. Part Ground Gym Kensington Village Management Limited 1,973 183.3 N/A N/A - - £15,000 £7.60 No formal agreement in place. 1 Car Parking Space Car Parking Village Fayre Limited - - 06/06/2005 N/A - - £1,500 - Licence to use 1 car parking space. 2 Car Parking Spaces Car Parking Vacant ------

Subtotal - Abingdon House 9,528 885.2 £224,500

SPUR LODGE

First Floor Office Spur Lodge Limited 1,041 96.7 22/03/2011 21/03/2021 - - £34,385 £33.03 Lease outside of the Landlord and Tenant Act 1954. Management Suite Office Kensington Village Management Limited 300 27.9 01/12/2014 30/11/2019 - - £5,260 £17.53 Lease outside of the Landlord and Tenant Act 1954.

Subtotal - Spur Lodge 1,341 124.6 £39,645

Total - The Kensington Collection 92,078 8,554.3 £3,548,682

*Areas stated within the tenancy schedule refer to demised tenants only. 28 | 29 TENANT COVENANT 17 UNIVERSAL MUSIC OPERATIONS COVENANT LIMITED (55% OF THE INCOME) Universal Music is the UK’s leading music company and a subsidiary of the French media conglomerate Vivendi. Home to artists including Take That, Mumford & Sons and The Rolling Stones, Universal Music is an umbrella INFORMATION corporation which owns and ecompasses major world-renowned record labels including Capital Records, Island Records and Virgin EMI Records, amongst others.

Traditionally based in Kensington, Universal Music has offices in both Kensington Village and on Kensington High Street. Universal Music Operations Limited have a D&B rating of 5A 1 indicating a minimum risk of business failure. For the financial year ending 31st Dec 2016 Universal had a reported turnover of £316,443,000 and Net Current Assets of £113,721,000.

Further information can be found at www.umusic.co.uk

ADM PROMOTIONS UK LTD (8% OF THE INCOME)

ADM is one of the largest independent marketing services firms in the world. They have process experts who consult, re-engineer and execute global supply chain solutions working with clients under long term contracts to deliver marketing campaigns that build brands and add value.

ADM have interconnected businesses consisting of over 350 people across 22 offices in 19 countries. The company has a D&B rating of 3A 1 indicating a minimum risk of business failure. For the financial year ending 31 Dec 2016 ADM reported a Turnover of £41,768,000 and Net Current Assets of £10,472,000.

Further information can be found at www.admgroup.com

EAGLEMOSS LIMITED (9% OF THE INCOME)

Eaglemoss is a creative and innovative company who specialise in Partworks, a specialist form of publishing aimed at mass markets allowing large entertainment brands to increase their brand awareness through a non-traditional business channel. Eaglemoss is owned by Eaglemoss Capital Ltd, a holding company comprising private investors based in London and Paris.

Further information can be found at www.eaglemoss.com

30 | 31 Beaumont House part 3rd floor occupied by Universal Music BEAUMONT HOUSE, ABINGDON HOUSE AND SPUR LODGE OFFER A RANGE OF ASSET MANAGEMENT OPPORTUNITIES, IN ADDITION TO THE NATURAL BENEFITS ARISING FROM THE PROXIMITY TO THE EARL’S COURT REGENERATION SCHEME ASSET COMPREHENSIVE REFURBISHMENT MANAGEMENT Potential for a comprehensive refurbishment of the existing office accommodation upon vacant possession in 2022. There is also the option of carrying out a rolling refurbishment upon lease expiries. Over 50,000 sq ft will become vacant in 2018, including 17,000 sq ft which is currently vacant. OPPORTUNITES INCREASE MASSING

Increased massing potential for Beaumont House. The Warwick Building (directly to the south in Kensington Village) which currently is the same height as Beaumont House, gained planning consent to add a new, two-storey barrel roof extension on top of the existing structure, setting a precedent for Kensington Village. Abingdon House also has massing potential.

ALTERNATIVE USES

Explore alternative uses including residential. The planning consent for the Warwick Building is to provide 25 private apartments as part of the two-storey roof extension and there is certainly potential to improve the restaurant and leisure provision.

RE-BRANDING

Opportunity to re-brand the collection of buildings under one dedicated “campus”. There is the potential to dramatically improve the existing leisure and restaurant provision through place-making at Abingdon House and create an inclusive ‘co-working’ style environment.

IMPROVING RENT ROLL

Numerous opportunities exist to drive the current rent roll via either refurbishment of the existing accommodation, re-gearing current occupational leases, setting new headline rents through open market lettings and increasing the rental income derived from the restaurant and gym provision.

32 | 33 Computer generated image INVESTMENT OCCUPATIONAL MARKET MARKET COMMENTARY COMMENTARY

Investor sentiment for the West End remains very strong with turnover to the end of Q3, The central London office market as a whole has continued to perform well throughout 2017 reaching £5.29bn, a 16% increase on the 10-year average. Global equity 2017. This year, West End take-up has already surpassed the 2016 total with September has once again proved particularly diverse with buyers from Continental Europe recording the second highest monthly take up figure on record. accounting for 25%, Middle East 22%, UK 19%, Asia Pacific 12% and North America 16%. The TMT sector remains the most active accounting for approximately 32% of the market with headline rents holding firm as total supply fell 3.7% against a back drop of falling With yields in both the West End and City of London reaching all-time lows, investors are vacancy rates to just 3.9%. pursuing opportunities outside of these core markets in the search for higher returns. The Hammersmith & Kensington markets in particular offer robust occupational and Kensington Village is ideally located between the well-established office markets of investment credentials, underpinned by a severe lack of supply, attractive rents relative Kensington and Hammersmith. Hammersmith has benefitted from significant regeneration to the West End, strong rental growth prospects and excellent transport links. and companies continue to be attracted by its low comparable total occupation costs, excellent transport links, diverse amenities and proximity to both central London and Investors have further been attracted to London due to its compelling yield arbitrage Heathrow Airport. Major occupiers include GE, Dunnhumby, Medidata and Philip Morris. over interest rates and UK bonds whilst the continued devaluation of the UK Sterling has further reinforced its status as a safe haven for global capital. Kensington has a long-standing association with the music industry but more recently has begun to attract occupiers from the established TMT and fashion sectors. Set out below are some comparable transactions: Meanwhile stringent planning controls in both Hammersmith and Kensington have restricted office supply and the area remains characterised by a distinct lack of highly quality, well specified offices.

Set out below are some comparable transactions:

DATE ADDRESS TENURE AREA CAPITAL NIY CAPITAL TENANCY DATE ADDRESS AREA TENANT RENT (SQ FT) VALUE VALUE (SQ FT) (PSF) (£PSF)

Sep 17 10 Hammersmith LLH 122,807 £112.0m 4.91% £912 Multi-let Sep 17 12 Hammersmith Grove, W6 52,837 WeWork £55.00 Grove, W6 Mar 17 12 Hammersmith Grove, W6 29,020 Medidata £59.00 Sep 17 Gloucester Building, VFH 22,602 £18.5m 5.05% £818 Single-let Kensington Village, W14 Mar 17 Pembroke Building, Kensington Village, W14 17,800 National Citizens Service £48.50

Jun 17 43 , W6 FH 85,072 £67.5m 4.00% £787 Single-let Jan 17 100 Hammersmith Road, W6 8,862 Gambit Research LLP £54.00

Mar 17 Warwick Building, VFH 79,506 £56.6m 5.20% £712 Single-let Dec 16 The Aircraft Factory, 100 Cambridge Grove, W6 3,102 Kwiff £57.50 Kensington Village, W14 Dec 16 One Queen Caroline Street, W6 9,090 BTS £52.50 May 17 One Queen Caroline LLH 83,503 £77.8m 5.67% £931 Multi-let Street, W6 Sep 16 One King Street, W6 8,816 Orion Health £52.50 Apr 16 184 Shepherds Bush FH 115,973 £97.15m 4.60% £837 Single-let Road, W6

*the above information has been provided by 3rd parties and is subject to verification *the above information has been provided by 3rd parties and is subject to verification 34 | 35 PLANNING

The Properties are located in the London Borough of Hammersmith and Fulham. They are not listed but do sit within the Olympia and Avonmore Conservation Area.

VAT

The Property has been elected for VAT. It is anticipated that the transaction will be treated as a Transfer of a Going Concern.

DATA SITE

Further information is available upon request.

EPC

Energy performance certificates are available upon request.

PROPOSAL

Offers are invited in excess of £65,000,000 (Sixty Five Million Pounds), subject to contract and exclusive of VAT.

A purchase at this level reflects a net initial yield of 5.11%, a potential reversionary yield of 6.74% and a capital value of £705 per sq ft, assuming purchaser’s costs of 6.8%.

36 | 37 Beaumont House part 4th floor occupied by ADM CONTACTS

Oliver Sprackling Toby Larman +44 (0) 20 7182 2027 +44 (0) 20 7529 5715 [email protected] [email protected]

Alex Fryer Scott Lister +44 (0) 20 3214 1903 +44 (0) 20 7529 5704 [email protected] [email protected]

James Harris Peter Ng +44 (0) 20 3214 1926 +65 9638 5255 [email protected] [email protected]

Henrietta House, Henrietta Place, 3 Hanover Square, London, W1G 0NB London, W1S 1HD

Misrepresentation Act: Misrepresentation Act 1967: (i) Although maximum care has been taken to ensure the accuracy of the information contained within this report, such information is subject to change and confirmation. (ii) No liability will be accepted by CBRE or Michael Elliott for any loss arising from information contained within this report as it may have been provided by a third party source and will require verification. (iii) This report provides a general outline only for the guidance of prospective purchasers and does not constitute the whole or any part of an offer or contract. (iv) No employee of CBRE or Michael Elliott has the authority to make or give any representation or warranty or enter into any contract whatever in the relation to the property. (v) Rents and prices stated within this report may be subject to VAT. Designed and produced by The Looking Glass Design www.tlgd.co.uk. November 2017.