The Property Investors Bulletin J U N E 2 0 0 7 E D I T I O N TOTAL INVESTMENT FROM 1 Jan 2007 - 31 May 2007 Volume Deal Count £20,916m 632 CONTENTS Total Value of UK Investment Transactions (Year to Date May 2007) SECTOR LISTING...................................... 2 GEOGRAPHICAL LISTING.........................5 25,000 22,848 21,975 20,916 INVESTOR LISTING..................................11 20,000 THREE MONTH YIELD INDEX..................14 14,965 ACTIVE PROPERTY INVESTORS............16 15,000 INVESTMENT STATISTICS......................18 10,547 The monthly bulletin is available in hardcopy 10,000 or PDF formats for £395.00 pa (12 issues). Further information can be found at our m £ Volume Transaction website www.propertydata.com 5,000 The next edition of the bulletin will be published on Monday 2nd July 2007. 0 Copyright (c) 2007. Property Data Ltd. 2003 2004 2005 2006 2007 This report is intended for general information and is based upon material in Year to Date (Jan - May) our possession or supplied to us, which we believe to be reliable. Whilst every effort has been made to ensure its accuracy and Office Retail Industrial Leisure Other Total completeness we cannot offer any warranty that factual errors may not have occurred. Y-T-D I N V E S T O R A C T I V I T Y 1 Jan 2007 - 31 May 2007 INSTITUTIONS PROPERTY CO'S PRIVATE OVERSEAS OTHER BUY £m 3,751 6,302 1,360 8,389 1,112 SELL £m 4,395 6,759 1,037 3,299 5,425 NET £m -644 -457 323 5,090 -4,313 Y-T-D S E C T O R A C T I V I T Y 1 Jan 2007 - 31 May 2007 OFFICE RETAIL INDUSTRIAL LEISURE OTHER 2007 £m 10,574 5,143 1,323 2,574 1,302 2006 £m 10,551 4,127 2,164 2,827 3,178 DIFFERENCE £m 23 1,016 -841 -253 -1,876 The Property Investors Bulletin - June 2007 Edition Page 1 May 2007 Investment Transactions by Sector West End Offices TOWN ADDRESS PRICE YIELDPURCHASER NOTES LONDON SW12 Dean Stanley Street £ 23m -Candy & Candy Cromwell House: 2,415m² T:DEFRA - Refurbishment planned LONDON SW127-31 Knightsbridge £ 100m 3.5%Morley Fund Management 6,039m² LONDON SW1130 Wilton Road £ 71.4m 4.3%Hammerson Plc 6,735m² R:£3,100,000 T:Various(3) LEX:2010-2011 LONDON W17 Curzon Street £ 16m 3.85%Clerical Medical 2,508m² T:various (4) LEX:2009-2011 LONDON W137 Maddox Street £ 25m -Middle Eastern investor Prince Frederick House LONDON W13/4 New Burlington St £ 30m -Crown Estate, The 4 interconnecting office buildings - Redevelopment LONDON W11-2 Stephen Street £ 215m -Glebe Holdings Ltd (JV) 22,017m² office + retail - Redevelopment potential LONDON W198-102 Wigmore Street £ 10m -Frogmore RE Partners Inc. 3-5 Duke's Mews T:La Rueda, Argo LEX:2008 Total value of recorded deals: £490m City Offices TOWN ADDRESS PRICE YIELDPURCHASER NOTES LONDON EC130 Aylesbury Street £ 42.25m 5.5%Morley Fund Management T:Pinsent Masons LL:7.5 years LONDON EC1154 Clerkenwell Road £ 5.225m -Cheshire CC Super Fund 1,253m² T:Assoc Accounting Technicians LEX:09/2007 LONDON EC22 Copthall Avenue £ 11.3m -Salmon Harvester Property T:vacant - Long leasehold expiring 2128 LONDON EC27-11 Finsbury Circus £ 110m 5.5%Mitsubishi Estate Company River Plate House: 13,935m² LONDON EC21 Lothbury £ 115m -Goodbody Stockbrokers 11,148m² forward funding LONDON EC2One Exchange Square £ 406.3m -KanAm Grundinvest Fonds 35,707m² T:European Bank for Reconstruction LL:15.75 LONDON EC23 & 4 South Place £ 18.25m -Unknown Coventry House & Spencer House: 3,343m² T:vacant LONDON EC32 America Square £ 25.1m 5.91%Warner Estate Holdings 4,318m² T:various LONDON EC310 Lloyds Avenue £ 15.25m -Walbrook Land (JV) 2,230m² T:Kennedys LONDON EC4154 Fleet Street £ 21m -Unknown Bouverie House: 5,214m² - Redevelopment opportunity LONDON EC42-4 Tudor Street £ 3.7m -Owner occupier 488m² T:vacant LONDON EC468 Upper Thames Street £ 175m 5%Atlas Capital Group Vintners Place: 24,619m² R:£9.4m T:Sumitomo Total value of recorded deals: £948m Mid-Town Offices TOWN ADDRESS PRICE YIELDPURCHASER NOTES LONDON WC116 Upper Woburn Place £ 21.755m 5.03%Warner Estate Holdings 3,750m² LONDON WC251 Lincolns Inn Fields £ 9.25m 4.4%Legal & General Property 1,487m² S&L:BCL Burton Copeland T:Various(2) Total value of recorded deals: £31m Outer London Offices TOWN ADDRESS PRICE YIELDPURCHASER NOTES LONDON E148-16 Canada Square £ 1090m 3.8%Metrovacesa SA 102,190m² R:£42.5m S&L:HSBC LEX:2027 LONDON E141 Park Place £ 52m - Grattan LONDON SW675 Filmer Road £ 4m 4.83%Milton Property Holdings Filmer Mews: 764m² R:£204,496 T:various LONDON SW6126 New Kings Road £ 8.25m -Private trust Elysium Gate: 2,358m² LONDON W6145-155 King Street £ 16m -Irish Life Assurance Plc 2,640m² S&L:Hammersmith & Fulham Council LL:20 TOLWORTHTolworth Tower £ 4.3m -Targetfollow Group Plc Freehold interest Total value of recorded deals: £1,175m Regional Offices TOWN ADDRESS PRICE YIELDPURCHASER NOTES ABERDEENExcel Centre £ 11.4m 6.75%AWG Property Ltd (JV) 5,853m² T:Accenture BEDFORDTwinwoods Business Park £ 19.72m 6.1%Carlyle EREP (JV) 180 acre business park BIRMINGHAMExchange, Newhall Street £ 6.175m -Maximus Real Estate 1,858m² BRADFORDFieldhead Business Centre £ 8.35m 6.45%Dundas Commercial PF I 10,152m² R:£569,530 T:Multi-let BRISTOLSt Stephen's House £ 3.5m 5.75%Urbis Developments Ltd 2,004m² T:Eldridge Pope CAMBRIDGEVision Park, Endeavour Ho £ 3.3m 6.48%Scottish Widows 1,033m² R:£226,025 T:Chamber of Commerce, Lloyds Bank CARDIFFSt Mellons Business Park £ 6m 7.2%Citicourt Investment Ptnr Campus of nine offices DUNDEEDundee Technology Park £ 1.625m 7.27%Annfield Assets Ltd 372m² T:In Practise Systems + vacant EDINBURGH1 Quartermile Square £ 60m 5%Morley Fund Management 9,662m² T:Maclay Murray & Spens (50%) EDINBURGHTanfield Silvermills £ 23.15m -Carlyle Group (JV) 18,952m² T:vacant CPS:358 GLASGOWContact Centre £ 33.6m 4.37%Harbor Group Intl 9,244m² R:£1.47m T:Norwich Union Central Services LL:25 GUILDFORDAvaya House £ 58.5m 5.38%M&G Property Portfolio 11,148m² HAMILTONHamilton Intl Park £ 26m -Chancery Partnership Fenick House (2,230m²) + Fintry House (3,623.1m²) HARTLEPOOLMandale House £ 1.3m 7.69%Braefoot Cox Ltd 889m² T:various (Hartlepool Primary Care Trust 70%) Page 2 The Property Investors Bulletin - June 2007 Edition May 2007 Investment Transactions by Sector Regional Offices TOWN ADDRESS PRICE YIELDPURCHASER NOTES LIVINGSTONWatermark, Alba Campus £ 22m 6.41%Mapeley Ltd 9,476m² R:£1,500,000 T:Scottish Widows Plc NEWCASTLE-UPON-TYNE39 Pilgrim Street £ 12m -Multiplex Developments (JV) Commercial Union House: Part of potential dev scheme NOTTINGHAM9-11 Lowater Street £ 0.385m -HKL Investments Ltd 287m² T:vacant PETERBOROUGHSundance House £ 4m -CAEC Howard Properties 1,858m² T:Abbey, Cambridge CC POOLEConcept Park £ 1.7m 6.25%Erinaceous Investments 697m² T:Rok Building (50%) + rental guarantees POOLENuffield Estate £ 2.4m 6%Clark Estates UK Ltd Sentinel House: 2,574m² T:TDSi LEX:2012 SOUTHEND-ON-SEAAlexander House £ 30m 5.6%Golfrate Properties Ltd 21,349m² T:Secretary of State LEX:2026 ST ALBANSVerulam Point £ 17.9m 5.49%Rockspring Hanover PUT 4,876m² R:£1,049,820 T:Orange, Clydesdale Bank, ARC. ST HELIER, JERSEYCharter Place £ 18.5m 5.4%Propinvest Holdings Ltd 3,263m² TEWKESBURYTewkesbury Business Park £ 3m 7.75%City & Provincial EP Ltd 1,707m² T:TRL Technology R:£245,768 LEX:2009 CPS:77 YORK9 Rougier Street £ 13m 6%Arlington Property Invest Northern House: 5,295m² T:various Total value of recorded deals: £388m Unit Shops TOWN ADDRESS PRICE YIELDPURCHASER NOTES AIRDRIE48-50 Graham Street £ 0.755m 6.25% Private investor 101m² R:£50,000 T:Birthdays AYR134-136 High Street £ 2.39m 4.89%Unknown 143m² R:£123,650 T:Monsoon Accessorize Ltd BRENTWOOD75 High Street £ 3.3m 4.3%O Twelve Estates Ltd T:Barclays Bank LEX:2026 CARDIFF1 Thornhill Road £ 0.185m 7.8%Private investor 51m² R:£15,650 T:Fourboys Ltd LEX:05/2011 DONCASTERWheatley Hall Trade Park £ 8.15m 5%T3 Unit Trust 4,645m² trade park EDINBURGH2 Hunter Square £ 0.85m 5%Unknown R:£45,000 T:Chocolate Soup HALIFAX1-3 Southgate £ 1.33m 5.1%Unknown 764m² T:Burton / Dorothy Perkins HELENSBURGH57 Sinclair Street £ 0.178m 7% Private investor HUYTONDerby Road/Sherbourne Sq £ 10.5m 7.2%Ventnor Ltd 2,601m² - 29 shops R:£800,000 T:various LEVEN45-47 High Street £ 3.55m 5.64%Unknown 1,846m² T:various LYNDHURST56 High Street £ 0.35m -Frobisher Retail Ltd 111m² - Redevelopment MACCLESFIELD35-35B Market Place £ 1.24m 4.57%Sigma Pension Fund 281m² LL:15 NOTTINGHAM41-47 Mansfield Road £ 0.625m 7.16%NOS Retail Fund R:£47,340 T:Nu Concepts, Coral Estates PORTFOLIOConvenience stations £ 8.125m 5.5%Rockspring Hanover PUT 4 forecourts T:Somerfield Stores Ltd LL:15 PORTFOLIOMalthurst portfolio £ 26.5m 5.5%CIREF Ltd 22 petrol service stations T:Malthurst TRURO9 St Marys Street £ 0.4m 5.4%Unknown 62m² R:£22,500 Total value of recorded deals: £68m Shopping Centre TOWN ADDRESS PRICE YIELDPURCHASER NOTES EAST KILBRIDEEast Kilbride Shop Centre £ 386m 6% Propinvest Holdings Ltd MAIDENHEADNicholsons Centre £ 85m 5.25%Irish Life Assurance Plc 12,000m² T:Tesco Metro, Argos, Next, WH Smith Total value of recorded deals: £471m Retail Warehouse TOWN ADDRESS PRICE YIELDPURCHASER NOTES BIRMINGHAMTameside Park, Perry Bar £ 13.45m -AXA Sun Life 4,866m² T:Wickes CARDIFFBrooklands Retail Park £ 26.7m 4.7%Propinvest Holdings Ltd 6,968m² T:Allied Carpets, Burger King, Currys, PC World Total value of recorded deals: £40m Industrial TOWN ADDRESS PRICE YIELDPURCHASER NOTES BARDONInnovate Logistics unit £ 48m 5.5%Hermes REIM (JV) 38,275m² S&L:Innovate Logistics LL:25 (fixed increases) BARTON NEEDWOODCentre 38 £ 9.5m -Close Brothers 13,935m² T:vacant BATLEYFairway Industrial Park £ 0.895m -Private investor