Our Vision for Pfizer Village

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SANDWICH SITE DEVELOPMENT PROJECT

This document aims to establish the credentials of the Project Team assembled by CB Richard Ellis to address the challenge set by Pfizer – propose a strategy which will optimise the value of the entire Pfizer site at Sandwich, Kent.

Relevant experience will be demonstrated of similar large-scale regeneration development projects, and of the team’s ability to work with both the private sector and large government bodies such as SEEDA. Particular focus on actual experience in Kent will also be highlighted.

Attention will be paid to the important relationship between Pfizer and its neighbours in Sandwich Town; and we will explore the possibility of creating even stronger links with the town and its inhabitants.

This document will offer an illustrative draft layout of how the various dynamics might work; pointing out the recommended scale and scope of the significant potential offered by this most unusual opportunity.

Through the vehicle of this document and at all stages of the selection process CBRE will demonstrate:

our tremendous enthusiasm and unwavering commitment to this project

our considered and coherent approach to all key issues

the capabilities of our extremely well lead, passionate and dynamic project team

Pfizer’s challenge will be addressed in greater detail during the next stage of engagement, where focus will be given to the wider economic aspect of the brief.

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CONTENTS

INTRODUCTION 3

SCOPE OF THE PROJECT 4

MEETING YOUR OVERARCHING OBJECTIVES 5

THE CBRE/HLW VISION 6

REGIONAL CONTEXT 10

OBJECTIVES 11

AREAS NOT WITHIN THE REMIT OF THIS WORK 12

FEE STRUCTURE WITH PAYMENT SCHEDULE & TERMS 13

RESOURCES TO BE DEPLOYED BY CBRE/HLW 14

SUPPORT ANTICIPATED FROM PFIZER/SEEDA 14

PFIZER INPUTS 14

ASSIGNEMENT OUTCOMES 15

CONCLUSION 16

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INTRODUCTION

CB Richard Ellis is delighted to respond to Pfizer’s invitation to tender for consultancy services on the Sandwich site development project, as outlined in your document issued on 7 November 2008. We thank you for including us in your invitation list and for allowing us to respond to such an exciting proposition.

CBRE is currently representing Pfizer on several disposition assignments around the globe. These assignments include the leasing of 750,000 square feet of office space in Midtown Manhattan, the leasing of 90,000 square feet of office space in Paris, and the subleasing of 25,000 square feet of office space in Denver Colorado. In addition CBRE is currently representing Pfizer in the sale of former manufacturing properties in Puerto Rico, Missouri, and Indiana.

In order to meet the demands of this challenging assignment, we have teamed up with HLW, architects and master planners, who are also well known to you. Through this partnership we have established the strongest possible team across all necessary disciplines.

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SCOPE OF THE PROJECT

The project relates to the Pfizer owned and operated Research and Development site (including redundant manufacturing facilities) on some 237 acres located at Sandwich, Kent.

In the first instance, Pfizer has identified land, buildings, and infrastructure, that may be available for sale, lease or sharing with other organisations including:

At least 400,000 RSF of office and laboratory accommodation

Land at the south of the Pfizer site which is near the town of Sandwich.

Infrastructure including utilities, roads, parking, security and site amenities such as staff restaurants, gym and shops

Pfizer’s initial research has suggested that a science or business park concept may be viable whilst mixed use development and energy generation should also be considered.

In subsequent discussions with Pfizer, our representatives have expressed the view that the scope as initially identified, although laudable as it stands, may be somewhat lacking in ambition.

The multi-disciplinary team of CBRE/HLW firmly believe that the potential of this site stretches far beyond the confines of the existing brief, allowing a rare opportunity to create something of real value on the East Coast of England. The timing is also right for a large well placed corporate, such as Pfizer, to undertake some counter-cyclical activity.

We believe this project will be a shining example in partnership, collaboration and regeneration best practice; it will be a symbol to underpin the values of the Pfizer brand and act as showpiece of its operations.

Progress. Promise. PFIZER

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MEETING YOUR OVERARCHING OBJECTIVES

You have identified two major objectives for Pfizer from this process:

Realise value from existing excess assets comprising buildings, land and infrastructure that allows Pfizer to step change its facilities cost base going forward.

Provide a development framework that allows the site to transition from a single company to a multi-organisational site, maximising synergies between Pfizer and other organisations where possible.

The second objective will take initial precedence and by its execution will allow the first objective to be delivered as a result.

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THE CBRE/HLW VISION

Bournville for Our Times

We have already discussed the possibility for creating a “Bournville for Our Times” in the same vein as best practice in corporate “place making” such as:

Bournville Village – http://www.cadbury.co.uk/EN/CTB2003/about_chocolate/history_cadbury/social_pioneers

Port Sunlight – http://www.portsunlightvillage.com/page.asp?pageid=history

The old Quaker families created villages of mixed use developments which operated entirely on a human scale and - crucially - where people were able to live in close proximity to where they worked. These have delivered highly successful and sustainable places which have both endured but have also made major lasting statements about the industrial investors behind the settlements concerned.

While the presentation of a large scale regeneration opportunity which meets government objectives, as well as incorporating a strong economic, residential development and environmental story stands clear as a winning formula; the detail cannot be determined at the outset. We are proposing to embark on a “journey” with this project along a route that will evolve as we travel forward.

The exact elements of the scheme to be presented, initially internally, but then at regional level, will take some time to develop, but a “route map” will almost certainly require the following components:

Revisiting/freshening up ideas for the site

Complete branding exercise around the opportunity

Internal consensus building campaign across Pfizer’s global operation

A “regeneration narrative” for the entire site and it’s immediate environs

A “contextual narrative” in respect of regional and national regeneration policy, with particular reference to government policy, in particular the emerging Homes and Communities Agency

Meetings with key external stakeholders

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Our vision for a “Pfizer Village” would almost certainly include the following elements working together in parallel:

1. Secure Accommodation for Pfizer (and its associates)

Central to all the plans for the site is the need to put the secure operational requirements of Pfizer R&D above all other considerations. The show must be kept on the road, unfettered and unconstrained, throughout the entire project.

The key objective of this work is that Pfizer’s operation is protected and enhanced. We would seek to demarcate a clearly secure area at the outset and identify operational requirements to be safeguarded. However, a priority would be to “open up” the rest of the site as quickly as possible to indicate that the Pfizer Village is “open for business”. We see this as an essential step to underpin the inward investment strategy for the site.

2. A “Knowledge Village”

We are familiar with the challenges of developing Science Parks, with local experience on the Kent Science Park situated outside Sittingbourne. Whilst we are dubious about a strategy predicated entirely on a science park for this site, we believe there is much room for a cluster of “knowledge based” businesses and would seek to encourage this through the provision of incubator units for SMEs and micro-businesses, in partnership with an appropriate operator of managed space.

Careful work with the Pfizer supply chain as well as coordinating with an appropriate HE provider (see below) would form the beginnings of building the profile of Pfizer Village as a “knowledge address”.

3. A Zero Carbon Target

Pfizer has “clean green” brand values, image and positioning and also is unafraid of embracing energy provision having already installed energy plant on site. The Pegwell Bay area has a history of energy generation, although the Richborough power plant has now been decommissioned.

Central to the values of the Pfizer Village that we would seek to develop in partnership, would be our wish to aim for a zero carbon settlement. The homes would be Code Level 4 (or above) and any new buildings would aim for BREEAM “excellent” rating. We have discussed Combined Heat and Power (CHP) provision for both the existing stock and the new build. We would also seek to include a waste-to-energy plant (or more than one) as appropriate, potentially serving the town of Sandwich as well as the Pfizer Village requirements.

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4. A Higher Education strategy

Pfizer has excellent links with a number of higher education institutions and it may be that this could be developed to bring some HE provision onto site at Pfizer Village. Clearly this would be a key component of the “knowledge village” portioning for the site. We would be seeking a strategic tie in with a world class institution as the quality of the partner will be key to the positioning.

This would have the additional benefit of allowing the development of some student housing, which always adds value to any place making strategy.

5. Connectivity to the existing medieval settlement of Sandwich

Although the site currently behaves very much like an “out of town” facility, a cursory glance at an aerial photograph shows it is actually in very close proximity to the beautiful ancient town of Sandwich to the immediate south. It is important for the future success of Pfizer Village that it will be accessible on foot and on bicycle from the existing settlement at Sandwich.

Sensitively retro-fitting the area with appropriate developments allowing walkways, cycle routes, roads and tracks for rapid transit systems (see transport below) through a carefully phased master plan will create a vibrant new community that works in harmony with the existing settlement.

6. “Early Win” residential component

We will seek to bring forward a superb residential element, establishing a “tone” for the rest of the development. The provision of some appropriate residential development in the early part of the scheme, probably close to Sandwich town, will inspire confidence and provide seed funding for other elements which may be less commercially viable but which are still essential for the overall success of the project.

We believe that there is potential for a range of different residential components to the Pfizer Village as well as the “early win” private housing for sale, other private housing opportunities may present themselves in different parts of the site and there could be potential for a student housing enclave (see above) as well as a retirement village.

7. “Other Use” Strategy

We are clear that there are a number of uses that would work on this site, alongside the existing laboratories and offices.

As well as the energy provision and the range of housing types already proposed, we believe there could also be scope for an appropriate hotel offering, some limited leisure and retail provision to meet the needs of the new settlement.

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8. Leisure Strategy

We are conscious of the proximity of the beaches at Pegwell Bay, as well as the three magnificent golf courses and the potential for making something of the lake to the south for leisure purposes which is currently ignored.

Central to the Pfizer Village concept will be quality of life issues and the provision of a diverse leisure offer will be very important. We believe that there are a number of commercial leisure operators who may well be interested in partnering us in this very beautiful location.

9. Local economic development strategy

Pfizer sent an excellent message to the local community in East Kent during the construction phase of the new buildings in the 1990s when Bovis - on your behalf - made every effort to recruit and train local labour to build out the scheme. Similarly as that phase of developments was completed, we appreciate that your status as a significant local employer is very important to the economy of Kent.

We would actively promote a strategy that targeted all new job opportunities, whether it be during construction or in the end-user phase toward the people of Sandwich, Ramsgate and Deal as well as the local smaller villages. We have vast experience of delivering this type of strategy, most notably at Paddington where we put 5,-000 local [people into work through the “Paddington First” agency which was formed in partnership with Job Centre Plus.

10. Transport Strategy

The subject of car parking provision will need to be handled with some care and we must ensure that sufficient car parking is provided to stimulate a rigorous inward investment strategy whilst also positioning the Pfizer Village as an environment which discourages the use of the private car wherever possible.

The fact that the rail link to London will reduce from 130 minutes to 84 minutes with the provision of the high speed link next year must be exploited and links must be strengthened with the Kent International Airport at Manston, which we tip for substantial improvement over the next 20 years.

Walkways and cycle ways will be included as a matter of course as well as road connection to the town of Sandwich. Having had experience of delivering rapid transit systems (such as Fastrack in north Kent) we would also like to consider the inclusion of a rapid transit link on a segregated route linking the Pfizer Village to the other amenities in the area such as the railway station and tourist attractions.

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REGIONAL CONTEXT

We appreciate that this particular Consultancy Services project is supported by SEEDA who, we understand, along with Pfizer will jointly evaluate proposals and options received from consulting organisations.

We have worked extensively with SEEDA over the years, particularly in Kent, as will be noted from the appended Track Records. We have consulted with SEEDA in assembling this submission, and can confirm that references from them are readily available.

In addition, we understand that Pfizer have also had initial discussions with SEEDA, UKTI, Kent County Council (KCC) and Dover District Council who support this project.

Our team enjoys widespread connections throughout the Kent and SE England infrastructure from Locate in Kent through to the KCC Brussels office and beyond.

Existing Residential Development

The Developer Quayside Homes and their agents are known to us, and we have visited their scheme known as Willowbank in Sandwich, which forms the early part of a potential 300 dwellings between the town and Stonar Lake.

Whilst suffering from the current economic downturn like all housebuilders, this scheme proves the desirability of residential development in this area, and there has been significant interest from local and incoming purchasers, both first time buyers and retirement/second home seekers.

There is still a substantial amount of ‘waste’ and commercial land around the lake which could be Masterplanned into a larger mixed-use scheme, ultimately knitting together with a full-scale Science Park/Residential proposition.

If required, the possibility of doing some kind of enabling deal with this Developer in the current climate would be considered good, and might be advantageous (though probably not essential), since they have already committed to a good deal of infrastructure, including extensive flood protection measures.

The physical link between Pfizer Village and Sandwich would then be complete.

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OBJECTIVES

The CBRE\HLW team will seek to:

1. Design and develop a comprehensive Masterplan for the layout, phasing, infrastructure, Planning Consents, building and/or marketing of the redevelopment of the site, both for existing buildings and proposed new build.

2. Provide fact based insight into the potential demand for the existing assets with clear recommendations of which organisations in each market segment should be approached and under what conditions.

3. Clearly identify the assets which will be most attractive to other organisations including infrastructure, services and science based offerings

4. Prepare a prospectus, which builds on the initial Pfizer prepared proposition, to allow a sustained and targeted marketing effort to commence.

5 Identify government funding support that will drive market sectors / themes and/or support defining the science / other offerings required for success

6 Develop a business model, including operating options, which takes account of investment, cash flow, commercial terms, returns, timelines, leasing and risk to allow investment decision making to take place.

7 Recommend developer / partners which should be short listed based on their experience and initial interest to any draft propositions clearly identifying under what terms they should be engaged.

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AREAS NOT WITHIN THE REMIT OF THIS WORK

You have made it clear that the project includes assets on the following parcels only, which are currently within Pfizer ownership:

Social Club 18.3 acres

East Site 57.9 acres

West Site 160 acres

Dover Road 0.55 acres Total: 237 acres

Not Included:

Romac 32.6 acres

North Site 36.8 acres

Nature Reserve 63.6 acres Total: 133 acres

In addition, we understand that the following items are out of scope and will be dealt directly by Pfizer:

Capacity evaluation and rationalisation of the existing buildings based on Pfizer’s’ organisational needs going forward.

Economic evaluation of disposal of buildings and plant which are rendered redundant and have no future potential use.

Flood prevention (Pfizer will deal with the EA directly and feed in the outcome as it emerges)

Disposal of redundant manufacturing assets unless they are to be re-used as part of a science / business park

Sale of specific one off buildings – will be done with current brokerage agreements

Programme managing a steering group on behalf of Pfizer.

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FEE STRUCTURE WITH PAYMENT SCHEDULE & TERMS

In an unconstrained world we would ideally request a twelve month commission. However we recognise that we would - together and in partnership - be on something of a voyage with this project. We are therefore proposing that the project would run in three time units of four months. Each four month commission will be negotiated at the end of the first three months of the contract. We have sought to put forward a proposal that is competitive and reasonable, and which reflects our strong desire to work with Pfizer on this exciting project.

The initial four months would constitute intensive activity, both on site and office based. We would aim to work in close partnership with Pfizer during this initial period to meet the objectives as outlined in your brief issued on 7 November 2008, as well as meeting with external stakeholders, after which an interim progress report will be presented. We do not anticipate that we will be in a position to proffer full and final recommendations at the end of the first four month period, or even at the end of the second one.

Total four month fee (invoiced @ £20,550 monthly): £82,200

The above (discounted) fee is quoted in anticipation of any agency instruction on any development brought forward to be given to CBRE and does not include disbursements.

This fee proposal is intended to recognise the senior personnel that will be involved with the project, especially in terms of the core team, and their significant experience of successfully undertaking assignments of this nature. The fee has been structured on a beneficial basis which is a reflection of our enthusiasm for the site and our belief that we can make something very significant happen.

Time to be committed (on average):

Trevor Nicholson (Project Leader) - 2 days per week

Jackie Sadek - 2 days per fortnight

Nick Compton - 2 days per four month period

Senior Surveyor 2 days per week

It is assumed that fees are based on the full input of the core team and an appropriate input from a wider team; however, if in-depth detailed work is required from the wider team then this may need to be agreed and priced at the time. For your information, the standard CBRE Hourly Rates are as follows:

Executive Director £300

Senior Director £250 (e.g JS and NC)

Director £200 (e.g TN)

Associate Director £175 (tba)

Senior Surveyor £150 (tba)

Any work to be commissioned outside the brief would be clearly negotiated with Pfizer on an “open book” basis at the appropriate time.

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RESOURCES TO BE DEPLOYED BY CBRE/HLW

Trevor Nicholson, Project Director

Jackie Sadek

Mike Gedye

Nick Compton

Andrew Talbot, Architect

Winnie Wong, Architect

Team member CVs are appended.

SUPPORT ANTICIPATED FROM PFIZER/SEEDA

We would propose a fortnightly on site project meeting, chaired actioned and minuted by CBRE, during the first four month time unit, reducing to monthly in the second and third terms.

These meetings are designed to encourage everybody to embark upon ‘The Journey’ together; they will sometimes be creative architectural and landscape visioning sessions to which a cross section of users might be invited, detailed financial modelling sessions, local stakeholder workshops or simply progress updates.

A working party attending from Pfizer and SEEDA to all these meetings would be welcome and constructive, but it remains to be decided how often each specialist actually needs to attend.

The input of Pfizer and SEEDA’s PR departments will be important in order to garner local support and patronage of any scheme.

Pfizer Inputs

It CBRE is chosen, we will be supplied with the following from Pfizer:

A detailed master plan for the existing buildings which will highlight what current buildings capacity is available over a 3 year horizon.

Science and facilities offering identified to date

Clarity on the flood risk situation - Pfizer will deal direct with the EA.

A communications and meetings framework with internal and external stakeholders and project team members

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ASSIGNMENT OUTCOMES

Upon completion of this assignment Pfizer will be able to:

Decide what level of investment Pfizer and other partners can reasonably provide, with subsequent returns, based on a clear operating model.

Complete selection of developer / partner organisations.

Understand the commercial value of the available assets including infrastructure.

Confirm in sufficient detail the science park offering in terms of space, science and support (business and / or government)

Decide whether energy, residential or other options identified should be pursued.

Complete detailed master planning for the whole site which will provide the framework for any new buildings and infrastructure.

Embark on a sustained and targeted marketing effort with an outstanding prospectus with clear themes and market segmentation.

CBRE/HLW will co-ordinate with both Pfizer and external parties during the assignment and produce interim reports to ensure timely completion

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CONCLUSION

In conclusion, please be aware that this is merely the most preliminary of proposals, written to meet the terms of your immediate Brief. Within the allocated time frame, any document we produce can only briefly introduce the scale of ambition which we believe could be realised on a site of this size and strategic importance.

We see this as very much a partnership project which will take a year to bed in and the fees that we have suggested above are a realistic assessment of what it would take to realise the potential for Pfizer to forge a new concept in land use for corporate organisations.

We would very much welcome the opportunity of meeting with the Sandwich Leadership Team to outline the full extent of our vision for this site and for Pfizer’s positioning as a pre-eminent knowledge-based organisation.

All site location images used throughout this document were taken by Trevor Nicholson; CBRE Director and Project Leader for the Sandwich Site Development Project.

TRACK RECORDS

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TRACK RECORDS

TRACK RECORDS

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CHATTENDEN BARRACKS AND LODGE HILL, MEDWAY, KENT

STATUS CBRE have acted for Land Securities in winning the bid to become the MOD’s Land Sales Delivery Partner for these 2 sites. CBRE will continue to advise Land Securities on all aspects of the sites going forward, including town planning, development consultancy, development land sales, project marketing and masterplanning .

CLIENT Land Securities.

SIZE The two adjacent sites, totalling over 700 acres, have the potential to accommodate over 5,000 residential units and 800,000 sq ft of employment space.

CHALLENGE Land Securities were bidding for the appointment as Land Sales Delivery Partner to the Ministry of Defence for the redevelopment of Chattenden Barracks and Lodge Hill, Medway, Kent.

Land Securities were to take a leading role in partnership with the MoD on the infrastructure, preparation and management of the sites for ultimate disposal.

SOLUTION CBRE created a bespoke multi-discipline team to advise Land Securities on their bid. CBRE were appointed due to their local knowledge of Kent, strong market presence and extensive resources including comprehensive agency and consultancy expertise.

CBRE had previously advised Land Securities on other large projects, including Project MoDEL, the Defence Training Review and Croydon URV.

They had also advised Defence Estates on various sites and understood their key objectives and guidelines.

The CBRE Land Agency & Regeneration team together with the Planning department advised Land Securities on planning matters, residential consultancy including design criteria, quantum, mix and unit types, financial modelling, and marketing and disposal strategy.

TRACK RECORDS

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EBBSFLEET VALLEY, NORTHFLEET, KENT

STATUS CBRE was retained by Land Securities to advise on the substantial quantum of commercial space (mostly high quality offices, Retail and Hotels) and Higher Density residential units surrounding the new Ebbsfleet International Station.

CLIENT Land Securities.

SIZE 6 Million Square feet Commercial Space. 4,000 Higher Density Residential units, in conjunction with 6,000 further lower density family residential units on 1,000 acres.

CHALLENGE Perhaps the ultimate ‘Placemaking Challenge’. A vast wasteland is to be transformed into a town and commercial centre that will ultimately be home and workplace to a large number of people, all predicated upon the new rail service with its 17 minute commute to London and 2.5 hour journey to Paris.

CBRE gave market facing advice throughout the Masterplanning process, working closely with Project Architects Arup, and the substantial client project team. Issues such as target market, phasing, design perception, financial viability, local community and Planning issues were constantly examined and progressed.

SOLUTION The CBRE Kent Residential Consultancy Team has worked in conjunction with the City Office team for a considerable time towards a solution via many milestones of achieving Planning Consents for individual phases and ultimately completion of the Masterplanning of the whole project.

Market forces will dictate the eventual implementation of the scheme, which will undoubtedly become an exemplar of mixed use Placemaking, combining as it does a significant transport hub with a place to live and work.

TRACK RECORDS

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GRAVESEND HERTIAGE QUARTER, KENT

STATUS CBRE acting in partnership with Hamptons International have advised throughout the design and placemaking stages of this Town Centre residential led regeneration project.

Working with the Architects, we have provided market-facing intelligence through the Planning Application right up to the point of sale, with a market launch scheduled for 2010.

CLIENT Edinburgh House Estates.

SIZE 650 Residential Units with Hotel and ancillary mixed use elements.

CHALLENGE To create a new place in the middle of a tired Town Centre with a low-quality retail offer, whilst embracing and invigorating the Georgian street scene, which had become run-down and hidden.

SOLUTION CBRE has an experienced Kent team with in depth local knowledge which drew upon Development Consultancy experience on similar projects elsewhere to help the Architects design a new Town Centre from the inside out, sensitively combining the traditional High Street with a contemporary tower, open spaces, parking and pedestrian walkways.

Gravesend’s waterfront location was celebrated and included as a feature for people to enjoy rather than ignored, which had been the legacy of the gradual build up of industrial uses over the years.

TRACK RECORDS

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NORTHFLEET EMBANKMENT, GRAVESEND, KENT

STATUS CBRE advised SEEDA and their Masterplan Architects on the concept design, target market and land assembly of a complex Thames riverfront industrial site, to be re-planned as a residential led mixed use community.

CLIENT South East England Development Agency.

SIZE 1800 Residential units with 300,000 sq ft Commercial Space.

CHALLENGE To create a completely new community on 2.5 km of Thames waterfront, within a short Fastrack bus ride of Ebbsfleet International Station, and its 17minute journey time to London and 2.5 hours to Paris.

SOLUTION The layout and density mix of homes was crucial, and was designed to attract a balance of purchasers who would both see the advantage of an extremely fast London commute, as well as enjoying a family based community with a local focus.

Several period wharf buildings are to be preserved, celebrating the area’s docklands heritage, and connectivity to local centres of Gravesend and Dartford is provided by the dedicated Fastrack bus service, which passes through the scheme.

TRACK RECORDS

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REFERENCE PROJECTS

UKAEA/STFC Harwell and Culham Sites, UK

The United Kingdom Atomic Energy Authority (UKAEA) is a non-departmental public body funded by DTI. The agency pioneered the use of nuclear energy in the UK.

As part of its mission to maximise income from land and to promote the UK’s scientific agenda, UKAEA instructed CBRE to assist with the creation of a strategic plan for its two main sites at Harwell (740 acres) and Culham (130 acres).

Harwell Science and Innovation Campus, UK Since project inception in Nov 2004 the developed strategy has been

implemented, resulting in the announcement of the creation of the Harwell Science and Innovation Campus in the 2006 Budget. CBRE has led the project team to select a private sector partner to form the JV responsible for the new campus throughout the project, resulting in the selection of Goodman as partner in August 2008.

Work undertaken: • Organisation of workshops to discuss and formulate strategy.

• Advice on land use allocations and values.

• Advice on R&D property and science park dynamics.

• Financial and scenario modelling.

• Advice on private sector JV’s and partner expectations.

• Support to UKAEA in promoting strategy to OST, DTI and other Gov’t bodies and site stakeholders.

• Project planning (GANT charts etc).

• Implementing OJEU based partner selection process.

• Leading negotiations with partner candidates.

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UNILEVER CORPORATE R&D Bedford UK

Following the acquisition of Bestfoods in 2002, Unilever identified a need to review and potentially consolidate its global R&D activities. Secondary objectives had also been considered such as the needs to change the culture of their R&D sites and to extract capital from owned sites.

CBRE Corporate Strategies were appointed to undertake a consultancy process to identify options available and specifically review the ownership of Colworth Park, one of two key Unilever R&D sites in the UK.

Colworth Park had evolved as an owned Unilever site for over 50 years

and had become the centre for crop trialing, food research and corporate ‘blue sky’ thinking.

Following the first phases of the process a main board paper and presentation was made outlining a plan to retain approx 30,000 sq m of Unilever occupation under 13 new leases and release surplus property and surrounding land for further development into a research park. To allow Unilever to share in the upside, a joint venture vehicle was created to hold the leasebacks and undertake development. A lengthy selection process was undertaken to identify the most suitable joint venture partner.

The various phases of the consultation process have just been completed and progress is being made towards concluding a transaction with the JV partner later this year.

The consultation process has involved:

• Environmental studies • Development appraisals and financial modelling • Scenario modelling and visioning • Market demand analysis • Facilities and servicing re-organisation • Creation of 13 new leases and tax efficient JV vehicle • JV Partner assessment and bidding process

MERCK SHARP & DOHME USA, UK

MSD appointed CB Richard Ellis to assess highest and best use and most probable outcome for the sale of 3 manufacturing sites in Danville PA, Flint

TRACK RECORDS

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River GA and Ponders End UK and subsequently to undertake a marketing campaign to achieve highest value whilst minimising holding costs. Team activities undertaken (to date):

• Project management of team and advisers • Scenario modelling/valuation • Demand profiling and priority targeting • Creation and implementation of marketing plans and

materials • Assessing potential zoning changes • Assisting with sale of plant and equipment • Ongoing sale activities

MSD Neurosciences Campus, Terlings Park, UK Ponders end was sold in Late 2006. At the time of writing Terlings Park was

in the process of being sold.

MSD Manufacturing Plant, Ponders End, UK

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PFIZER GLOBAL R&D USA, Canada, France, Italy

Pfizer have grown to become the largest global pharmaceutical company by undertaking a series of substantial corporate acquisitions, initially Warner Lambert and then more recently Pharmacia (who had themselves just acquired Upjohn). This activity has lead to an over-supply of R&D capacity in both North America and Europe. CBRE Life Sciences Group were appointed to assist in the identification of surplus accommodation and the consequent creation and implementation of a global disposal programme.

Pfizer GRD Campus, Skokie IL, USA Through this process a number of major sites were identified for disposal,

initially to other potential users and in some cases to developers. CBRE worked closely with their strategic partners, CUH2A, R&D masterplanners to prepare each site for the market and to maximise potential value.

Pfizer GRD Campus, Fresnes, France

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ELI LILLY Mont Saint Guibert, Belgium

Following the decision to close its Mount Saint Guibert research campus at Louvain, Lilly appointed CB Richard Ellis to assess highest and best use and most probable outcome for the disposal and subsequently to undertake a marketing campaign to achieve highest value whilst minimising holding costs.

Team activities undertaken (to date): • Project management of team and advisers • Scenario modelling/valuation • Demand profiling and priority targeting • Creation and implementation of marketing plans and

materials • International targeting of potential existing use buyers • Promotion at BIO2007 • Assessing potential zoning changes • Assisting with sale of plant and equipment • Ongoing sale activities

Mont Saint Guibert Campus, Louvain-La-Neuve, Belgium At the time of writing the site is under offer to a purchaser and is in the

process of being sold.

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THE WELLCOME TRUST The Millennium Peninsular

The Wellcome Trust is one of the largest global medical charities with over £20 Bn of funds under management. CBRE has undertaken numerous projects for Wellcome ranging from the trading of investment property through to the valuation of the new extension to the Genome Campus at Hinxton, UK.

The highest profile and most complex project CBRE have undertaken is assisting Wellcome with its bid for the Greenwich (Millennium) Peninsular in London, the 46 Ha site of the Millennium Dome.

Greenwich Peninsular, London, UK Wellcome were interested in acquiring the site for the development of a

focal point for R&D in London, accommodating a full spectrum of sector companies from biotech start ups to large pharmaceuticals.

CBRE Life Sciences Group and Corporate Strategies managed the project team assessing the viability of the site. Tasks included:

• 20 year cash flow models • Site master planning • Valuation and appraisal of development options • Environmental research • Location modelling to assess viability for R&D use • Market research into viability of mid-rise laboratories • Preparation and presentation of bids • Liaison with central Government agencies

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ELI LILLY Lilly House Campus, UK

Eli Lilly appointed CB Richard Ellis perform a full three stage monetisation study of their virtual-freehold interest of the Lilly House Campus in Basingstoke, comprising three buildings and a playing field. The team have worked through numerous different leaseback scenarios to find the optimal balance between cash raised and operational flexibility. This was further enhanced by a the negotiation of a re-geared head-lease.

Lilly House, Basingstoke, UK

Team activities undertaken (to date) • Project management of team and advisers • Scenario modelling/valuation • Demand profiling and priority targeting • Creation and implementation of marketing plans and

materials. • International targeting of potential existing use buyers. • Assessing potential zoning changes • Ongoing sale activities

Lilly House Campus, Basingstoke, UK At the time of writing the site is being taken to the market.

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SCIENCE/R&D PARK CASE STUDIES CLIENT SCIENCE/RESEARCH PARK

Harwell Science and Innovation Campus, Oxfordshire, UK

Center for Life Sciences, Boston, USA

Northern Ireland Science Park, Belfast, UK

Scripps Florida/PBC Bioscience Park, Florida, USA

University of Southampton Science Park

Heriot Watt Research Park, Edinburgh, UK

University of Essex Research Park

The Quantum Science/Research Park Fund

Colworth Park, Bedfordshire, UK

Cambridge Medipark, UK

Babraham Research Campus

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JACKIE SADEK

Background

Jackie Sadek has over 20 years’ experience in property development managing large-scale urban regeneration projects and public sector-private sector partnerships

Professional Experience

Jackie Sadek started her career in urban regeneration at the London Docklands Development Corporation before joining Stanhope Plc, where she worked on Broadgate, Stockley Park, Chiswick Park and King’s Cross. In the 1990s she worked in the site acquisition team at Tesco Plc before forming the Paddington Regeneration Partnership on behalf of all the Paddington developers.

Prior Assignments

London Docklands

Broadgate

Chiswick Park

Stockley Park

White City

Paddington

Merry Hill/Brierley Hill

Kent Thameside

Jackie Sadek

Senior Director

Head of Regeneration

T: + 44 020 7182 2160 F: + 44 020 7182 3002

jackie.sadek@cbre.com

Professional Affiliations & Qualifications

BSc Philosophy and Physics

Masters in Business Administration

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TREVOR NICHOLSON

Background

With a background in Property Development, Trevor joined Hamptons International in May 2004 as Director of Kent and Thames Gateway, and joined CBRE as a Director in January 2008.

As a Director and shareholder of Farmer Internacional SA in Palma, Mallorca, Trevor managed design, funding and sales on several overseas schemes, including the 102 Waterfront Apartments project, The Creek, GDV £14m.

In the UK, he was a Director of a developer based in Kent specialising in residential conversions and bespoke individual homes.

Professional Experience

More recent experience of urban regeneration schemes in North Kent and established links with the DCLG, SEEDA, and English Partnerships have enabled Trevor to establish a valuable knowledge of the land and new homes sector throughout Kent and Thames Gateway

Since joining CBRE-Hamptons International, Trevor has advised on the Masterplanning of residential and mixed-use schemes, on acquisition, site disposals and new homes sales.

Major clients include:

Land Securities, Lend Lease, Ardmore Construction, Welbeck Land, Urban Splash, Edinburgh House, City Lofts.

Prior Assignments

Ebbsfleet Valley – Masterplanning10,000 homes and 6 million square feet commercial space around Ebbsfleet International Station for Land Securities PLC.

Chattenden Barracks - Masterplanning 5,000 homes and 800,000 square feet commercial space in Kent, with development partner Defence Estates.

Woodbury Down, Hackney - Residential Masterplanning 3,500 homes in a major inner city regeneration scheme for Lend Lease PLC.

The Quays, Chatham Maritime – Byrne Estates – Consultancy, Selling Agents

Northfleet Embankment–SEEDA – Consultancy Advice and Site Disposal to National Housebuilder for1300 units.

Gravesend Heritage Quarter – Edinburgh House –Consultancy, Selling Agents

Professional Affiliations & Qualifications

Trevor Nicholson

Director

CB Richard Ellis

T + 44 020 7182 2077

F + 44 020 7495 4697

trevor.nicholson@cbre.com

Member of the Residential Development Agents Society

Member of the Royal Institute of Chartered Surveyors

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NICK COMPTON

Background

Nick provides the real estate strategy input within the Corporate Strategies team. The team is focused on helping corporate owners of property to make most effective use of these assets and maximise their value to the business. Nick has particular expertise in the Pharmaceutical Sector, leading the European part of CBRE’s Global Life Sciences Group. The group specialise in providing advice to both occupiers and investors within the pharmaceutical, biotechnology and science/research parks market. Nick has particular expertise in creating joint ventures and other vehicles between developers and corporate owners.

Professional Experience

Nick has over 17 years’ experience working with multi-national corporates and investors, and has worked on monetisation projects with General Motors, Merck & Co, Pfizer, Unilever, Astra Zeneca, UK Atomic Energy Authority and Nortel Networks in many diverse locations across Europe. Nick has particular expertise in monetising portfolios of specialist assets such as manufacturing plant, laboratories and infrastructure.

Prior to joining CB Richard Ellis, Nick was a Director with FPD Savills where he was responsible for the provision of Corporate Services for the Asia/Pacific region based in Hong Kong. For 8 years prior to this he was an Associate Director for Weatherall Green & Smith managing agency transactions in the south east of England.

Professional Affiliations & Qualifications

Nick Compton

Senior Director

Corporate Strategies

T + 44 (0) 20 7182 3545

F + 44 (0) 20 7182 3959

nick.compton@cbre.com

Member of Royal Institution of Chartered Surveyors

Former Board Director - British American Business Inc

Member of CORENET and UK Science Park Association

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HLW BROCHURE

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HLW BROCHURE

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SITE DIAGRAM

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