FIFTEEN FETTER LANE LONDON EC4

A PRIME MIDTOWN FREEHOLD INVESTMENT OPPORTUNITY

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Freehold.

Prominent corner building strategically positioned in the heart of Midtown.

Prime business district with a diverse high profile global occupier pool including Amazon, Unilever, JP Morgan, Deloitte, Capgemini, Saatchi & Saatchi and Goldman Sachs.

Benefits from excellent transport connectivity being within close proximity to several key transport hubs, providing access to both the London Underground network and Mainline Rail Services.

Set to benefit from improved transport communications with future access to the Elizabeth Line (Crossrail) from Farringdon station in 2022.

Comprehensively refurbished in 2017 to provide 85,323 sq. ft. (7,926.8 sq. m.) of Grade A office and ancillary accommodation arranged over basement, lower ground, ground and seven upper floors.

Fully-let to eight office tenants, with a total passing rent of £4,868,839 per annum (inclusive of top-ups), reflecting a low rent of only £57.06 per sq. ft. overall.

Sharia compliant tenant mix.

Weighted average unexpired lease term of 5.8 years to earliest determination and 8.3 years to expiries.

Substantial reversionary potential with 64% of the income let off passing rents below £65.00 per sq. ft., a 20% discount to prime Midtown rents of £80.00 per sq. ft.

Property benefits from 78% of the income being subject to rent reviews within the next two years.

Offers are invited in excess of £112.5 million, for 100% of the issued shares in the Isle of Man company which owns the Freehold interest, reflecting a 4.25% net initial yield (assuming 1.8% purchaser’s costs) and a capital value of £1,319 per. sq. ft., subject to contract and exclusive of VAT.

INVESTMENT HIGHLIGHTS

London is one of the top global cities, consistently ranked in the top two in the Global Cities Index since its inception in 2008. Additionally, in 2019 and 2020, London came top in the Global Cities Outlook. This is predominantly due to London’s robust business fundamentals, central time zone, transparency, number of languages spoken and access to superior education.

The City of London is a hub for global talent with 40% of its workforce from overseas

It is home to the London Stock Exchange, the largest stock exchange in Europe

The UK has the fastest COVID vaccine roll out in the G7

Situated at the centre of all major world time zones

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75%OF ALL FORTUNE 500 COMPANIES ARE LOCATED IN LONDON

A GLOBAL BUSINESS CENTRE

85% GROWTH RATE OF LONDON TECH INDUSTRY IN THE LAST 5 YEARS

NO.1 TECH HUB FOR GLOBAL INVESTORS AND TECH START UPS

2050 NET ZERO CARBON EMISSION LEGISLATIVE COMMITMENT

NO.1GLOBAL BUSINESS DISTRICT AHEAD OF NEW YORK AND TOKYO IN THE EY-ULI INDEX

250 FOREIGN BANKS IN THE CITY

15 Fetter Lane is advantageously positioned in the heart of Midtown, one of London’s most diverse and sought after office markets. The Property is located within walking distance of future Elizabeth Line services at Farringdon Station, one of London’s most important transport hubs.

15 Fetter Lane occupies a strategic position in the heart of Central London at the intersection of the City of London, Midtown and Farringdon, providing access to an array of local amenities and unparalleled transport connectivity.

15 Fetter Lane is situated adjacent to Landsec’s landmark c.1 million sq. ft. New Street Square Estate, which, in addition to being the home of Deloitte, boasts a diverse amenities offering in conjunction with a procured and landscaped public realm.

Midtown, one of London’s most historic districts, is synonymous with the legal sector due to the close proximity of numerous famous legal landmarks including the Royal Courts of Justice, the Old Bailey, the Commercial Courts and the Four Inns of Court. Recently, Midtown has undergone a rejuvenated influx of sectors such as technology, media and telecommunication (TMT), finance and fashion which, in turn, has evolved the character of the locality along with the demographic of its people, creating a diverse and vibrant working environment. This is demonstrated with a broad spectrum of global occupiers now present including the likes of Amazon, Taylor Wessing, Bird & Bird, Unilever, JP Morgan, Deloitte, Capgemini, Saatchi & Saatchi and Goldman Sachs, ensuring Midtown is a prominent focus for leading global investors.

As a result of the increasingly diverse and vibrant occupier base Midtown has seen the arrival of distinguished restaurants such as Gaucho, Brasserie Blanc and Cigalon, a concentration of artisan coffee shops, bars and stylish hotels.

A STRATEGIC LONDON LOCATION

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VICTORIA EMBANKMENTTHAMES STREET

QUEEN VICTORIA STREET

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LOWER THAMES STREET

CANNON STREET

THREADNEEDLE STREET

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WEST SMITHFIELD

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GOODGESTREET

OXFORDCIRCUS

GREEN PARK

MARBLE ARCH

HYDE PARKCORNER

KNIGHTSBRIDGE

HOLBORN

EUSTON

ST PAUL’S

MANSIONHOUSE

MONUMENT

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BARBICAN

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SHOREDITCHHIGH STREET

LEICESTERSQUARE

CHARINGCROSS

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CITYTHAMESLINK

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BLACKFRIARS PIER

LEGAL 1. Macfarlanes2. HM Courts & Tribunal Service3. Bird & Bird4. Taylor Wessing5. Jones Day6. Hogan Lovells7. Travers Smith8. Withers 9. DLA Piper10. Sullivan & Cromwell

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PROFESSIONAL / FINANCE11. Goldman Sachs 12. JP Morgan13. Barings14. Brewin Dolphin15. Mizuho Bank16. Bank of New York Mellon17. Bank of America Merrill Lynch18. London Stock Exchange19. Fidelity 20. Deloitte

LOCAL OCCUPIERS

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A vibrant and diverse occupier base containing some of the most exciting global brands attracted by unrivalled connectivity and first class amenities.

ROYAL COURTS OF JUSTICEST PAUL’S CATHEDRAL

THE OLD BAILEY

INNS OF COURT

SMITHFIELD MARKET

PATERNOSTER SQUARE

NEW STREET SQUARE

NEW LUDGATE

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TMT / CREATIVE21. TikTok22. Saatchi & Saatchi23. Capgemini24. Amazon25. Framestore

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OTHER 26. Lego27. Marriott Hotels International 28. Anglo American / De Beers29. J Sainsbury Plc30. Unilever

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ST PAUL’S

BLACKFRIARS CITY THAMESLINK FARRINGDON

CHANCERY LANE

The evolution of Midtown has, in part, been due to the excellent public transport communications serving the immediate area. 15 Fetter Lane benefits from being within walking distance of several key transport hubs, providing access to both the London Underground and Mainline Rail Services, as well as future access to the Elizabeth Line (Crossrail) from Farringdon Station.

UNPARALLELED CONNECTIVITY

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THE ELIZABETH LINE (CROSSRAIL)

Due for completion in 2022, the Elizabeth Line (Crossrail) will deliver a direct connection between all of London’s principle employment centres, linking Heathrow with Paddington, the West End, the City and Canary Wharf.

The introduction of the Elizabeth Line at Farringdon will ensure that the station will become London’s best connected transport hub, providing access to London Underground (Circle, Hammersmith & City and Metropolitan lines) Mainline Rail Services and being the only interchange between the Elizabeth Line (East and West) and the Thameslink (North and South).

1.5mMORE PEOPLE TO BE WITHIN A 45 MINUTE

JOURNEY OF LONDON

2.5MINUTES A TRAIN WILL

RUN IN EACH DIRECTION DURING PEAK TIMES

140 TRAINS ACROSS ALL LINES

ARE TO PASS THROUGH FARRINGDON PER HOUR

27mPASSENGERS TO USE

FARRINGDON PER ANNUM

200mPASSENGERS A YEAR

ARE EXPECTED TO USE THE ELIZABETH LINE

EVERY

BLACKFRIARS 12 MINS

FARRINGDON 9 MINS

LUTON AIPORT 51 MINS

ST PANCRAS 4 MINS

TOTTENHAM COURT ROAD 2 MINS

LIVERPOOL STREET 2 MINS

WHITECHAPEL 5 MINS

BOND STREET 4 MINS

PADDINGTON 8 MINS

HEATHROW AIRPORT 31 MINS

CANARY WHARF 8 MINS

STRATFORD 10 MINS

ST PAUL’S 13 MINS

CHANCERY LANE 6 MINS

TEMPLE 9 MINS

CITY THAMESLINK 11 MINS

GATWICK AIPORT 43 MINS

ELIZABETH LINE

1 NEW STREET SQUARE, EC4

Owner: LandsecScheme: 263,000 sq. ft. office development fully let to Deloitte.Status: Completed 2016.

THE BUREAU, 90 FETTER LANE, EC4

Owner: Deka Immobilien MetropolenScheme: 77,564 sq. ft. multi let retail/office development.Status: Completed 2018. Acquired by Deka in Q2 2021 for £118.00M / 3.99% / £1,531 per sq. ft.

66 SHOE LANE, EC4

Owner: Wing Tai led consortiumScheme: 160,000 sq. ft. office development fully let to Deloitte.Status: Completed 2020. Acquired by a consortium led by Wing Tai in Q1 2021 for £255.00M / 4.18% / £1,617 per sq. ft.

PLUMTREE COURT, EC4

Owner: National Pension ServiceScheme: 827,000 sq. ft. office development fully let to Goldman Sachs.Status: Completed 2018. Acquired by NPS in Q3 2018 for £1.165Bn / 4.15% / £1,416 per sq. ft.

20 OLD BAILEY, EC4

Owner: Mirae Asset Management Scheme: 240,000 sq. ft. multi-let office development.Status: Completed 2018. Acquired by Mirae Asset Management in Q2 2018 for £314.00M / 4.20% / £1,419 per sq. ft.

LOCAL DEVELOPMENTS

CHRISTCHURCH COURT, 10-15 NEWGATE STREET, EC1

Owner / Developer: Shimao Property Holdings LimitedScheme: 310,000 sq. ft. Grade A office refurbishment. Status: Undergoing Refurbishment. Anticipated Completion: Q2/3 2022.

STONECUTTER COURT, 1 STONECUTTER STREET, EC4

Owner / Developer: Allianz / Ivanhoe CambridgeScheme: 255,000 sq. ft. redevelopment of HQ office and retail scheme. Status: Undergoing Redevelopment. 158,000 sq. ft. is pre-let to Travers Smith LLP. Anticipated Completion: 2024.

SMITHFIELD MARKET, EC1

Owner / Developer: City of LondonScheme: 450,000 sq. ft. redevelopment including the cultural mile and the new site of the Museum of London.Status: Approved, pending formal permission.

WHITEFRIARS, 65 FLEET STREET, EC4

Owner / Developer: JMI GlobalScheme: 225,000 sq. ft. Grade A office refurbishment and extension.Status: Planning Approved. Anticipated Completion: 2024.

PETERBOROUGH COURT & DANIEL HOUSE, FLEET STREET, EC4

Owner / Developer: Private Middle Eastern Investor Scheme: 370,000 sq. ft. Grade A office development. Lipton Rogers and PLP Architecture have been appointed.Status: Under Refurbishment. Anticipated Completion: Q1 2024.

RIVER COURT, 120 FLEET STREET, EC4

Owner / Developer: Chinese EstatesScheme: 540,000 sq. ft. Grade A office development. Bjarke Ingels Group and CO-RE have been appointed.Status: Planning Approved. Anticipated Completion: Q1 2024.

100 FETTER LANE, EC4

Owner / Developer: BauMount Real Estate Capital and YardNineScheme: 142,000 sq. ft. of Grade A office accommodation targeting a BREEAM ‘Outstanding’ rating.Status: Planning Approved. Anticipated Completion: Q2 2024.

COMPLETED

PIPELINE

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The Property was subject to a comprehensive refurbishment in 2017 to provide 85,323 sq. ft. (7,926.8 sq. m) of Grade A office and ancillary accommodation arranged over basement, lower ground, ground and seven upper floors.

15 Fetter Lane occupies a prominent 0.38 acre corner site, accessed via a double height entrance canopy fronting Fetter Lane into a spacious, modern reception providing access to a central core, which services all floors via three passenger lifts.

Internally, the floorplates are arranged around the central core resulting in open and flexible accommodation ranging from 5,593 sq. ft. (seventh floor) to 11,700 sq. ft. (second floor) with excellent levels of natural light provided throughout through floor to ceiling glazing.

The Property boasts an excellent outdoor amenity offering, with terraces servicing the second to the seventh floors. Additionally, the floorplate steps back at sixth and seventh floor at the rear (east and south) of the property to provide private balcony accommodation with excellent views across Central London.

External areas include a private landscaped courtyard to the south of the site demised to the ground floor tenant, as well as a lightwell that houses 73 secure bicycle spaces.

The office accommodation has been refurbished to a Grade A specification and provides the following:

THE PROPERTY

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LANDSCAPED GROUND FLOOR COURTYARD

4 SECURE CAR PARKING SPACES

4 SHOWER ROOMS AND DRYING ROOM

80 SECURE LOCKERS73 SECURE CYCLE SPACES

1 X 12 PERSON FIREMAN / GOODS LIFT

2 X ADDITIONAL STAIR CORES

3 X 12 PERSON PASSENGER LIFTS

VRV AIR CONDITIONING SYSTEM

TERRACES ON THE 2ND TO 7TH FLOORS

FULL HEIGHT GLAZING LED LIGHTINGMETAL TILED SUSPENDED CEILING

RAISED FLOORSFLOOR TO CEILING HEIGHTS OF UP TO

3.09 METRES15 Fetter Lane has been independently measured by Plowman Craven Associates in accordance with the RICS Code of Measuring Practice 6th edition (2007) and comprises the following Net Internal Areas. IPMS3 areas are available on request.

FLOOR USE SQ. M. SQ. FT.

7th Office 519.6 5,593

6th Office 720.9 7,760

5th Office 929.5 10,005

4th Office 1,011.1 10,883

3rd Office 1,037.4 11,166

2nd Office 1,087.0 11,700

1st Office 983.3 10,584

Ground Office 517.6 5,571

Ground Office 33.9 365

Ground Reception 10.7 115

Lower Ground Office 587.6 6,325

Lower Ground Office 466.8 5,025

Basement B.M.A 21.4 231

Total - 7,926.8 85,323

ACCOMMODATION

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FLOORPLANS

GROUND FLOOR 6,051 SQ. FT. (562.2 SQ. M.)

FIRST FLOOR 10,584 SQ. FT. (983.3 SQ. M.)

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OFFICE RECEPTION CORE TERRACE / BALCONY / COURTYARD

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Not to scale and for indicative purposes only

FOURTH FLOOR 10,883 SQ. FT. (1,011.1 SQ. M.)

SEVENTH FLOOR 5,593 SQ. FT. (519.6 SQ. M.)

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15 Fetter Lane is held freehold under title number NGL441649 and occupies a site area of 0.38 acres (0.15 hectares). The site boundary is outlined in red on the Ordnance Survey Extract plan below:

TENURE

Ordnance Survey Crown Copyright 2021. All rights reserved.

Licence number 100022432.

Plotted Scale - 1:1250. Paper Size – A4

Fully-let to eight office tenants, providing a diverse, secure total passing rent of £4,868,839 per annum (inclusive of vendor top ups), reflecting a low rent of only £57.06 per sq. ft. overall.

The current WAULT is 5.8 years to earliest determination and 8.3 years to expiries.

The property provides substantial reversionary potential with 64% of the income let off passing rents below £65.00 per sq. ft., a 20% discount to prime Midtown rents of £80.00 per sq. ft.

INCOME BY TENANT (%)

TENANCIES

Marks & Clerk LLP 27.9% Peters & Peters Solicitors LLP 16.0% Jisc 14.6% Weil, Gotshal & Manges LLP 13.7% AskonasHolt Ltd 9.3% WGC (UK) Ltd 8.1% Leo Learning Ltd 6.8% PeopleFluent Ltd 3.6%

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*Plan not to scale and for indicative purposes only.

TENANT DESCRIPTION USE FLOOR AREA (SQ FT) LEASE START NEXT RENT REVIEW LEASE BREAK LEASE EXPIRY £ PER ANNUM £ PER SQ FT COMMENTS

WGC (UK) Ltd 7th Floor Office 5,593 25/10/2019 25/10/2024 24/10/2024 24/10/2029 £391,510 £70.00

Outside the 1954 LTA.

If the tenant does not exercise their break they shall receive 1 years rent at a peppercorn.

Askonas Holt Ltd 6th Floor Office 7,760 10/07/2017 10/07/2022 - 09/07/2029 £433,434 £55.85

Inside the 1954 LTA.

Rent deposit of £216,717.03 is held.

Sublet to Morgan McKinley at a passing rent of £523,800 per annum.

Marks & Clerk LLP 5th Floor Office 10,005 29/09/2018 29/09/2023 28/09/2030 28/09/2033 £650,325 £65.00Inside the 1954 LTA.

4 month break penalty if the tenant exercises their break option.

Marks & Clerk LLP 4th Floor Office 10,883 29/09/2018 29/09/2023 28/09/2030 28/09/2033 £707,395 £65.00Inside the 1954 LTA.

4 month break penalty if the tenant exercises their break option

Jisc 3rd Floor Office 11,166 28/02/2018 11/03/2023 11/03/2023 27/02/2028 £709,041 £63.50

Inside the 1954 LTA.

10 month rent free if the tenant does not exercise their break option.

Peters & Peters Solicitors LLP2nd Floor

(plus one car space)Office 11,700 18/01/2017 18/01/2022 - 17/01/2027 £615,195 £52.58

Outside the 1954 LTA.

Tenant has been in occupation since 2007.

Weil, Gotshal & Manges (London) LLP 1st Floor Office 10,584 09/08/2021 09/08/2026 - 06/07/2030 £664,146 £62.75

Outside the 1954 LTA.

24 month rent free. Option to renew for a further 5 years on the same lease terms (excluding option for renewal lease).

Askonas Holt Ltd Ground Office 365 17/11/2020 - 17/11/2023 16/11/2025 £19,163 £52.50Outside the 1954 LTA.

6 month rent free if the tenant does not exercise their break option.

Leo Learning Ltd Ground Floor & Courtyard Office 5,571 17/08/2018 17/08/2023 16/08/2023 16/08/2028 £331,475 £59.50

Outside the 1954 LTA.

6 month rent free if the tenant does not exercise their break option.

Lease guaranteed by Learning Technologies Group Plc.

Part sublet to Dowgate Captal Limited pursuant to sublease dated 20 Decemeber 2018 and a supplemental sublease dated 23 December 2020.

Reception Ground 115

Peters & Peters Solicitors LLPLower Ground

(plus one car space)Office 6,325 18/01/2017 18/01/2022 - 17/01/2027 £165,000 £26.09

Outside the 1954 LTA.

Tenant has been in occupation since 2007.

PeopleFluent Ltd Lower Ground Office 5,025 25/12/2017 25/12/2022 25/12/2022 24/12/2027 £176,155 £35.06

Outside the 1954 LTA.

6 month rent free if the tenant does not exercise their break option.

Lease guaranteed by Peoplefluent, Inc. Vacant (two car spaces) - £6,000 12 month vendor top upLondon Electricity Board Basement Store 01/07/2019 30/06/2040

85,323* £4,868,839 £57.06

*Including ancillary basement accommodation

TENANCY SCHEDULE

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TENANTS COVENANTS

Founded in 1887, Marks & Clerk LLP are a market leading international intellectual property service provider, encompassing patent and trademark attorneys, lawyers and consultants. Principal consultancy services include financial, strategy and commercial IP services, as well as other services traditionally not offered by IP firms. The company represents a wide range of clients from individuals to multi-nationals with large IP portfolios. The company have 17 offices worldwide, including the UK, China, Malaysia, Singapore, France and Luxembourg and employs over 800 professionals, of which over 300 are legal practitioners.

Peters & Peters Solicitors LLP are a leading UK law firm with expertise in Business Crime, Asset Tracing and Recovery, Corporate Compliance, Corporate Litigation and Civil Fraud. The company principally specialises in civil, regulatory and criminal issues, working with governments, corporations, financial institutions, professionals, executives and high net worth individuals, as well as providing expert advice to foreign regulators and international organisations. The company has an extensive client base both in the UK and internationally, with leading case work based in Africa, Americas, Asia, Europe, the Middle East and Oceania.

% OF TOTAL INCOME % OF TOTAL INCOME

27.9% 16.0%

Incorporated in 1997, Askonas Holt Limited has established itself as one of the world’s leading arts management agencies. Specialising in the field of classical music, the company represents the finest vocal, instrumental and conducting talent. The company principally works with existing and emerging talent to provide a personal and bespoke management service, as well as arranging and managing high quality performances and international tours for the world’s leading orchestras and dance companies.

The World Gold Council is the market development organisation for the gold industry. Their purpose is to stimulate and sustain demand for gold, provide industry leadership and be the global authority on the gold market. WGC work with a large and diverse set of partners to create access, drive innovation and stimulate demand for gold while providing a collective voice for its members and clients. WGC are headquartered in London but have 5 global offices in New York, Shanghai, Singapore, Mumbai and Beijing.

% OF TOTAL INCOME % OF TOTAL INCOME

9.3% 8.1%

Founded in 1993, Jisc are a not-for-profit higher, further education and skills sector organisation for digital services and solutions. The company principally works with UK universities, colleges and further education sectors to operate and provide a shared digital infrastructure, negotiate sector-wide deals with IT vendors and commercial publishers and provide trusted advice and practical assistance. One such digital service is the Janet Network that currently provides over 18 million UK research and education users with a world-class, secure shared digital network.

Weil, Gotshal & Manges LLP is an American international law firm, founded in 1931 with 15 global offices in the United States, Europe, Asia and the Middle East. Weil, Gotshal & Manges employ over 1,100 people advising clients on Litigation, Corporate, Restructuring and Tax & Benefits matters. In 2020, Weil, Gotshal & Manges LLP was named as the 10th largest law firm by profit in the United States. The firm is well renowned for acting for Lehman Brothers and General Motors during the 2008/09 financial crisis.

% OF TOTAL INCOME % OF TOTAL INCOME

14.6% 13.7%

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Founded in 1989, LEO Learning, part of Learning Technologies Group (LTG), is an internationally recognised technology-led, media and learning services company focused on working with international organisations to help them revolutionise their approach to learning. The company provides award-wining, bespoke e-learning technology programs with an objective to help its clients drive business success, engage customers and improve staff retention. The company operates from nine offices across the UK, the US and Brazil. The company provides advice to a number of high profile clients, namely Sky, the NHS, BP, the Bank of England and L’Oreal.

Founded in 1997, PeopleFluent are a market leader in human resource solutions for the digital enterprise. PeopleFluent focusses on talent acquisition, talent management and learning management solutions that help companies build and power a more productive workforce. The companies specific capabilities include healthcare, manufacturing, financial services, life sciences, energy, transportation and retail. The company work with over 25 million users in over 200 countries and territories from its network of offices in North America, EMEA and Asia Pacific.

% OF TOTAL INCOME % OF TOTAL INCOME

6.8% 3.6%

OCCUPATIONAL MARKET COMMENTARY

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Leasing activity has continued to be driven by occupiers acquiring space in Grade A buildings, accounting for 85% of year-to-date take-up, highlighting a continued ‘flight to quality’ approach.

For the year-to-date 2021, Midtown take-up has already surpassed 2020 total take-up.

Midtown has demonstrated resilience over the last 18 months with vacancy rates at 5.8%.

15 Fetter Lane’s immediate area has in past cycles and presently achieved record Midtown rents.

The Professional Service sector has historically and presently had a strong Midtown presence, accounting for the highest take up for the year-to-date 2021.

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DATE ADDRESS AREA (SQ FT) DEMISE TENANT TERM BREAK RENT

(£ PER SQ FT)

Aug-21 St Martins Court, 10 Paternoster Row, EC4 5,435 6 4 Paper Buildings 5 - £80.00

Aug-21 Stonecutter, 1 Stonecutter Street, EC4 158,000 LG, 5-13 Travers Smith LLP 15 Conf. £76.00

Jul-21 Harella House, 90-98 Goswell Road, EC1 5,332 4th IA – Interior Architects UK 10 5 £75.00

Jul-21 55 Bartholomew Close, EC1 1,404 4th Push Gaming 3 - £80.00

Jun-21Jun-20Feb-20

Bureau, 90 Fetter Lane, EC49,3789,4308,493

2nd1st3rd

Miniclip LimitedMiniclip LimitedCarter-Ruck LLP

91010

677

£72.50£72.00£72.00

May-21 LDN:W, 3 Noble Street, EC2 8,977 9th Isio 10 5 £74.50

Mar-21 Kaleidoscope Farringdon 4 Lindsey Street, EC1 86,163 G - 5th Tiktok 15 10 £90.00 - £78.50

Jan-21 Warwick Court, 5 Paternoster Square, EC4 130,000 Part 2 – 7th T Rowe Price 15 - £76.75

Banking 15% Business & Consumer Services 6% Tech & Media 17% Insurance & Financial Services 7% Manufacturing & Industry 2% Professional 36% Public Services, Education & Health 5% Retail & Leisure 4% Serviced Office Provider 5% Other 3%

2021 TAKE UP BY SECTOR

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INVESTMENT MARKET COMMENTARY

Throughout 2021, the Midtown market has continued to gather momentum, both in terms of turnover volumes and with prime yield’s falling below 4.00% for the first time in history to 3.75%.

As of November 2021, investment turnover stands at £5.83 billion, surpassing 2020’s total investment volume of £4.59 billion, with a further £1.16 billion under offer.

A record Midtown capital value per sq. ft. of £1,617 per sq. ft. was achieved at 66 Shoe Lane, 100 metres north of 15 Fetter Lane.

DATE ADDRESS AREA (SQ FT) TENURE RENT £PA

(£ PSF) PRICE NET INITIAL YIELD

CAPITAL VALUE (£PSF) PURCHASER

Aug-21 Times Square, 160 Queen Victoria Street, EC4 380,348 FH £19,192,477

(£50.46) £465,000,000 4.05% £1,223 Generali

Jun-21 The Bureau, 90 Fetter Lane, EC4 77, 564 FH £4,984,108

(£67.33) £118,000,000 3.99% £1,521 Deka

Jun-21 1 St John’s Lane EC1 89,033v.FH975 years£2,000

£4,094,006(£46.98) £113,000,000 3.39% £1,269 Royal London

Feb-21 66 Shoe Lane, EC4 157,658LLH132 yrsPeppercorn

£10,847,424(£68.80) £255,000,000 4.18% £1,617 Consortium led

by Wing Tai

Dec-20 1 & 2 New Ludgate, EC4 389,615 v.FH993 yrs

£23,700,000(£60.83) £552,000,000 4.20% £1,417 Sun Venture

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YTD 2021 INVESTMENT BY NATIONALITY

UK 18% Asia 22% Middle East 5% North America 27% Europe 28%

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FURTHER INFORMATION

PLANNING

The Property is located within the jurisdiction of the City of London. The property is not listed, nor is it located within a Conservation Area.

VAT

We understand 15 Fetter Lane Limited has elected for the purposes of VAT.

EPC

The Property has an EPC rating of B (49).

DATA ROOM

Access to the online data room is available on request.

PROPOSAL

Offers are invited in excess of £112.5 million, for 100% of the issued shares in the Isle of Man company which owns the Freehold interest, reflecting a 4.25% net initial yield (assuming 1.8% purchaser’s costs) and a capital value of £1,319 per sq. ft., subject to contract and exclusive of VAT.

IMPORTANT NOTICE

Savills and their client give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 November 2021

CONTACT

For further information or to arrange an inspection of the property, please contact one of the following:

CENTRAL LONDON INVESTMENT

DANIEL HESKETH+44 (0) 20 7409 8008+44 (0) 7788 562 061dhesketh@savills.com

DAN GAUNT+44 (0) 20 7409 8857+44 (0) 7968 650 861dgaunt@savills.com

NICK SCOTT+44 (0) 20 7578 7579+44 (0) 7870 999 291nick.scott@savills.com

CROSS BORDER INVESTMENT

RASHEED HASSAN+44 (0) 20 7409 8836+44 (0) 7870 999 776rhassan@savills.com