26-28 GLASSHOUSE YARD, LONDON EC1 HIGHLY REVERSIONARY INVESTMENT FREEHOLD OFFICE SUMMARY INVESTMENT z Striking modern office building comprehensively refurbished in 2011 to provide 4,436.9 sq m (47,758 sq ft) NIA of Grade A accommodation. z Less than 300 metres from the new Farringdon Crossrail Station. z Freehold. z Single let to the undoubted covenant of Amazon UK Services Ltd, part of Amazon.com, Inc. z c. 4.75 years unexpired. z Rent: £1,826,881 pa (inclusive of vendor top-up). z ERV: £2,660,755 pa. z Reversionary passing rent of only £38.41 psf overall (assuming lease areas of 47,560 sq ft). z Prime Clerkenwell & Farringdon in excess of £70.00 psf. z Price: £40.25 million z Net Initial Yield: 4.25% z Reversionary Yield: 6.19% z Equivalent Yield: 5.75% z Capital Value: £843 psf INVESTMENT RATIONALE z Secure income from a “blue chip” 5 A1 covenant. z Reversionary passing rent of only £38.41 psf overall. z Significantly under-rented with prime Clerkenwell/Farringdon rents now in excess of £70.00 psf. z Opportunity to re-gear with one of the world’s largest online retailers. z Well-specified modern office building with no capex required. z Crossrail arriving at Farringdon Station in 2018. z Growth location with large-scale local development activity. z Low capital value of only £843 psf compared to £1,100 psf in prime Clerkenwell/Farringdon. SHOREDITCH HIGH STREET LIVERPOOL STREET MOORGATE LONDON BRIDGE SMITHFIELD MARKET OLD STREET CANARY WHARF CROSSRAIL ST PAUL’S FARRINGDON CROSSRAIL CROSSRAIL BARBICAN FARRINGDON STATION GLASSHOUSE STATION EASTERN TICKET HALL CROSSRAIL ALDERSGATE STREET OLD STREET GOSWELL ROAD CLERKENWELL ROAD 300M FROM THE NEW ST JOHN ST FARRINGDON CROSSRAIL STATION CONSTANT OF TAKE-UP BY TMT TENANT DEMAND OCCUPIERS SQUARE FEET CLERKENWELL TAKEN-UP BY Q2 2017 PRESTIGIOUS GLOBAL BRANDS VACANCY RATE TMTHOTSPOT LONDON’S QUARTER EXCITING NEW RESTAURANTS WORLD CLASS AMENITIES INDEPENDENT COFFEE SHOPS CUTTING EDGE NEIGHBOURHOOD CLERKENWELL DESIGN WEEK EXCLUSIVE BOUTIQUE HOTELS STRONG OCCUPIER APPEAL CROSSRAIL OPENING IN 2018 MAJOR DEVELOPMENT ACTIVITY FUELLED al St BY THE ARRIVAL OF CROSSRAIL IN 2018Perciv d R n o St ton C mpt p t e a om S n h C k t t A ic r r tw a 1 s o t a l B 7 S S N n t L e n d e r re 8 o G f W k ng h i e i S wl t e t o n B c a G r o G s o a s o t l s le S d u P e t d S g Clerkenwell S l e t v O t h y n n A r S u Green u b L t o y s n 1 2 3 r 4 le M r y e A b e s o A R 2 d G FARRINGDON STATION CHARTERHOUSE BARTS FARRINGDON STATION0 R o ell s 1 w w EASTERN TICKET HALL PLACE SQUARE WESTERN TICKET HALL en e rk l le l C R d Developer: Crossrail Developer: TIAA Henderson Developer: Helical Bar PLC Developer: ll Rd e St Scheme: 75,000 sq ft Real Estate Scheme: 212,000 sq ft of Cardinal Lysander nwe un ke S rt ler GLASSHOUSE o C t F of Grade A offices and Scheme: 240,000 sq ft Grade A offices, 20,500 sq ft Scheme: 207,000 sq ft J o h retail accommodation of Grade A offices and of A3 retail and 236 lhighl Rd of Grade A offices and T n e u ’ nw s rke r S Cle n Timing: 2018 30,000 sq ft of retail quality apartments retail 25,000 sq ft of retail/ m t i H l St l Fann S Timing: Under construction Timing: Q3 2018 restaurant a accommodation S t t t J t oh A o Timing: 2018 5 n n 2 0 G ’s S 0 a affr L r n d en o n H A 1 i l Charterhouse l F a Square r r Farringdon St i n n usia h g art St d h C c ee BARBICAN o B Barbican n Cowcross St S 1 CENTRE 4 t A l Farringdon d e Farringdon Eastern ticket hall r Smithfield s Western ticket hall g Market a St t lle Grevi e S t 5 6 7 8 eet 3 Str se 2 u o rh e e rt n a 5 a h L A SMITHFIELD 24-30 148 SUTTON YARD, C g n 2 o L 0 QUARTER WEST SMITHFIELD OLD STREET 65 GOSWELL ROAD 1 A 1 W d l Developer: City of Developer: Whitbread Developer: Great Ropemaker Developer: Chesham Capital e e Chancery Lane Holbo s fi C rn h h t Smit London Corporation Scheme: 326 bedroom hotel a Partnership Scheme: 77,500 sq ft n c Scheme: Smithfield Market totalling 123,807 sq ft e Scheme: 151,700 sq ft of of Grade A offices 6 r Museum y A4 to be redeveloped to Timing: Planning L Grade A offices Timing: Completed Q1 2016 0 of n London London Wall provide a new home for consent granted Timing: Under construction the Museum of London Barts Pathology Timing: 2021 Museum G o u g h S t t Rd san n lea o t P ampt oun rth M No ve A y rr Pe e rciva b n Ln l St se Gree o wling CROSSRAILR Bo t S e d z r o Europe’s largest infrastructure project. f k C A Clerkenwell e A A z lerk S enw 2 5 5 £15BN project revolutionisingel London travel. l R 0 Compto 2 2 d Green n St 1 0 0 z 0 0 Arriving at Farringdon station in 2018. z Farringdon Station is one of the key London Crossrail stations. z ury St Only Crossrail station with a 3-way interchange between Aylesb A A 1 Thameslink, Crossrail and London Underground services. 1 H z H a a t Over 140 trains per hour through Farringdon. t t t o o C z n n lerke ick St Bastw London journey times reduced by up to 70%. nw G G ell Rd a a T z T C C r r u u d d e 25% of the population of England will be able to reach e r r n e n e n n n n t t m m r Farringdon within 45 minutes. r S S a a i r f f a r f f a l l z l l S S S t Direct links to 3 of London’s major airports Heathrow, Gatwick t t o o n and Luton. n H H z i i C S S l l l e rkenwell Rd l Significant impact on office rents. l t t ld St O J J o o h h G G n n o o F F ’ ’ s s G a C a l l d d S S r r W W S S o h r r t t e e t t s i i a n Chancery Lane n w n n h h J n J g g o o i e i L L t c t d d l h h e e n e n l l o o Farringdon n n c c r R R n n ’ y ’ r r s s d d o o GLASSHOUSE S S L L L s G s t r t n n e n s v s ill e St S H S t o t lb o rn C 32 mins ow cro Farringdon ss Western ticket hall St HEATHROW Charterhouse Fa nn St A A Square Fo 2 2 rtune St 0 0 Charterhouse Street 1 1 300m A Smithfield A 1 1 8 mins A Market 4 Farringdon 0 Eastern ticket hall Barbican PADDINGTON Lane 4 mins Long B ee ch S S A A t l l d d e e W W r r s BOND STREET s g e g a a BARBICAN 300M FROM s t THE GLASSHOUSE t e t e S Sm l d S CENTRE t i e t thfi FARRINGDON 2 mins A A 1 LIVERPOOL STREET Barts Pathology 1 Museum 8 mins Museum CANARY WHARF of London 10 mins L on do n W all STRATFORD COMMUNICATIONS OLD STREET z Excellent transport links. Northern z 5 London Underground Stations within 13 minutes’ walk. Great Northern Trains z Less than 300 m from the new Crossrail Station at Farringdon. 0.6 miles | 11 mins z Direct rail services to London Heathrow, Gatwick and Luton airports and St Pancras International (Eurostar) GLASSHOUSE 0.1 miles 2 mins 0.7 miles | 13 mins 0.7 miles | 13 mins 0.2 miles | 4 mins CHANCERY LANE BARBICAN FARRINGDON Central Circle Circle MOORGATE Hammersmith & City Hammersmith & City Metropolitan Metropolitan Circle District Hammersmith & City Metropolitan Thameslink Northern Crossrail Great Northern Trains DESCRIPTION A FORMER TELEPHONE EXCHANGE COMPREHENSIVELY REFURBISHED IN 2011. z Well specified, open-plan, Grade A office accommodation. z 4,436.9 sq m (47,758 sq ft) NIA. z Arranged over lower ground, ground and 6 upper floors. z Main entrance located on Glasshouse Yard. z Impressive double height glazed frontage. z Modern, spacious reception complete with Italian Basalt flooring. z Excellent natural light throughout. z External roof terraces.