Substantially refurbished in 2008, Aldgate Union provides 254,997 sq ft of well specified office and ancillary accommodation

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1 W h i t e c h a p e l H i g h St r e e t / L o n d o n E 1 A n o u t s t a n d i n g r e f u r b i s h m e n t o p p o r t u n i t y i n t h e h e a r t o f A l d g a t e

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4 I N V E S T M E N T S U M M A R Y Substantially refurbished in 2008, Aldgate Union provides 254,997 sq ft of well specified office and ancillary accommodation Predominantly freehold Highly prominent building located in Aldgate, one of London s growth hotspots Close to Crossrail stations at Liverpool Street and Whitechapel The building comprises 254,997 sq ft (23,690 sq m) of Grade A office and ancillary accommodation arranged over three basement levels, ground and seven upper floors Opportunity to reposition via refurbishment, extension or redevelopment Vacant Possession is achievable in Q Offers sought in excess of 85 million, subject to contract Low capital value of 333 per sq ft

5 04/05 Central Atrium

6 THE LEADENHALL BUILDING 20 FENCHURCH STREET ST BOTOLPH FENCHURCH STREET STATION

7 06/07 30 ST MARY AXE HERON TOWER LIVERPOOL STREET STATION BUILDING SPITALFIELDS ALDGATE ALDGATE EAST ALDGATE PLACE ALTITUDE GOODMAN S FIELDS

8 L O C AT I O N A thriving mixed use quarter and one of London s growth hotspots Aldgate Union occupies a prominent and substantial site in Aldgate, immediately to the east of the City of London. Situated at the junction of Mansell Street and Whitechapel High Street, the property is located at the very centre of this fast developing Central London sub-market. Significant transport improvements and development activity are acting as a catalyst for Aldgate which is increasingly seen as one of the capital s growth hotspots. Commercial and residential development in and around Aldgate continues to transform the locality into a vibrant, mixed use quarter of London. A diverse office occupier base sits alongside high end residential, retail and student housing developments which are all within easy reach of the City of London, the West End and Canary Wharf. Major local occupiers include Sky, Maersk, CMC Markets, Lloyd s, JLT, Colt, Santander, Thomson Reuters and AON.

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10 T R A N S P O R T A l d g a t e U n i o n b e n e f i t s f ro m e xcellent t ra n s p o r t c o m m u n i c a t i o n s, b e i n g s i t u a t e d i n c l o s e p rox i m i t y t o a n u m b e r o f L o n d o n U n d e rg ro u n d a n d m a i n l i n e s t a t i o n s w h i c h p rov i d e q u i c k a n d e a sy a c c e s s t o t h e re s t o f L o n d o n a n d t h e w i d e r s o u t h e a s t. 50m 200m Aldgate East Aldgate Four tube lines within 200 metres 500m 650m Fenchurch Street Liverpool Street C ROSSRAIL W i t h d eve l o p m e n t u n d e r wa y a t n e a r by L i ve r p o o l St re e t a n d W h i t e c h a p e l s t a t i o n s, A l d g a t e i s s e t t o b e n e f i t s i g n i f i c a n t l y f ro m t h e C ro s s ra i l n e t wo r k. T h i s f l a g s h i p e a s t - we s t ra i l l i n k w i l l c ro s s C e n t ra l L o n d o n l i n k i n g Re a d i n g a n d H e a t h row i n t h e we s t t o S h e n f i e l d a n d A b b ey Wo o d i n t h e e a s t. C o n s t r u c t i o n c o m m e n c e d i n w i t h t ra i n s s c h e d u l e d t o b e r u n n i n g by I t i s e s t i m a t e d t h a t t h e n e w s e r v i c e w i l l c a r r y a ro u n d m i l l i o n p a s s e n g e r s e a c h ye a r p rov i d i n g a 1 0 % i n c re a s e i n ra i l c a p a c i t y t o L o n d o n. J o u r n ey t i m e s f ro m L i ve r p o o l St re e t t o va r i o u s key d e s t i n a t i o n s t h ro u g h o u t G re a t e r L o n d o n w i l l b e va s t l y i m p rove d by t h e a r r i va l o f C ro s s ra i l, a s c a n b e s e e n i n t h e fo l l ow i n g t a b l e : L i ve r p o o l St r e e t t o : C u r r e n t P r o p o s e d C a n a r y W h a r f 1 9 m i n s 6 m i n s W h i t e c h a p e l 5 m i n s 2 m i n s F a r r i n g d o n 4 m i n s 2 m i n s To t t e n h a m 8 m i n s 4 m i n s C o u r t Ro a d B o n d St re e t 1 1 m i n s 7 m i n s P a d d i n g t o n 1 9 m i n s 1 0 m i n s H e a t h row 3 9 m i n s 3 5 m i n s

11 10/11 Surface line Tunnel Portal (tunnel entrance and exit) Reading Hayes & Harlington Heathrow Airport Southall Hanwell West Ealing Ealing Broadway Bond Street Farringdon Whitechapel Acton Paddington Tottenham Liverpool Main Line Court Road Street Stratford Canary Wharf Shenfield Abbey wood Two Crossrail stations within easy walking distance BAKER STREET KING S CROSS ST PANCRAS FARRINGDON MOORGATE LIVERPOOL STREET 0.4 miles WHITECHAPEL BOND STREET OXFORD CIRCUS TOTTENHAM COURT ROAD BANK ALDGATE 0.2 miles ALDGATE EAST 0.1 miles VICTORIA EMBANKMENT BLACKFRIARS MONUMENT TOWER HILL H a m m e r s m i t h & C i t y C i rc l e M e t ro p o l i t a n C e n t ra l D i s t r i c t

12 Mitre Square - Helical Bar/HOOPP L O C A L D E V E L O P M E N T S The Aldgate area has recently seen significant investment and development attracting some of the UK s largest property companies, developers and house builders including British Land, Redrow, Carlyle and Berkeley Group. 60 Commercial Road - Carlyle & Generation Estates Computer generated images of the schemes are shown here. Aldgate Bus Station 4C Hotel Group Aldgate Tower - Aldgate Developments Proposed Aldgate Western space - City of London

13 12/13 Dorsett City Hotel - Dorsett Hospitality 40 Leadenhall - TIAA Henderson Real Estate Aldgate Place - British Land/Barratt Assam Place - Alternative Developments/MACE Goodman s Fields - Berkeley Group One Commercial Street - Redrow

14 D E S C R I P T I O N Aldgate Union is an impressive and prominent building which was originally developed by insurance broker Sedgwick Group PLC as its new headquarters in the early 1980s. The building comprises 254,997 sq ft (23,640 sq m) of well specified office and ancillary accommodation arranged over three basement levels, ground and seven upper floors. Floor plates typically provide circa 26,500 sq ft of column free accommodation configured around a large central atrium and benefit from excellent levels of natural light from three elevations. Aldgate Union is accessed from Whitechapel High Street with the main reception linking through to the principal service core and eight passenger lifts serving all office floors. A secondary reception is accessed from Braham Street. RBS undertook a comprehensive refurbishment in 2008 which included the renewal of all mechanical and electrical services, additional WCs were added to the cores, the reception was upgraded, roof coverings were replaced and the building management system was upgraded. S P E C I F I C AT I O N The building now benefits from the following specification: Large column-free floors comprising approximately 26,500 sq ft; Fully accessible raised floors throughout all office areas; Chilled beam air conditioning to all office floors; Large full height atrium which runs throughout the building to basement levels; 6 x 21 person and 2 x 30 person passenger lifts; Escalators serving 1st floor and Basement level 1; Finished floor to ceiling heights of up to 3.1 metres; Full height glazing on 2nd - 7th floors; Storage for 60 cycles. Typical floor plates provide circa 26,500 sq ft

15 14/15 Main reception Atrium base

16 A C C O M M O D AT I O N The building has been measured by Plowman Craven in accordance with the RICS Code of Measuring Practice, 6th Edition. The floor areas calculated are as follows: F L O O R U S E S Q F T S Q M S eve n t h O f f i c e s 2 8, , S i x t h O f f i c e s 2 8, , F i f t h O f f i c e s 2 7, , F o u r t h O f f i c e s 2 6, , T h i rd O f f i c e s 2 6, , S e c o n d O f f i c e s 2 6, , F i r s t O f f i c e s 2 2, , G ro u n d O f f i c e s 9, At r i u m B a s e 4, Re c e p t i o n 2, B M A 1, B a s e m e n t 1 At r i u m B a s e 1, B a s e m e n t 2 O f f i c e s 3 3, , & A n c i l l a r y B a s e m e n t 3 St o ra g e 1 7, , & A n c i l l a r y B M A T O TA L 2 5 4, , Aldgate Union was comprehensively refurbished in 2008 by RBS

17 16/17 Typical office floor

18 F L O O R P L A N S W H I T E C H A P E L H I G H S T R E E T Office Main Reception M A N S E L L S T R E E T Atrium Base Office Loading Bay Rear Reception G R O U N D F L O O R 1 7, s q f t B R A H A M S T R E E T Office Plant B A S E M E N T L E V E L 2 3 3, s q f t

19 18/19 Office Atrium T Y P I C A L U P P E R ( 5 t h f l o o r) 2 7, s q f t Office Atrium Raised Area F I R S T F L O O R 2 2, s q f t

20 Und Und 10 1 T E N U R E Aldgate Union is held predominantly freehold under Title number EGL as shown in red on the OS plan below. The site area is approximately 1 acre (0.405 hectares). The property also has the benefit of a long leasehold interest in the Basement levels 2 and 3 of Aldgate Tower, the adjoining building. The leasehold interest is held under Title number EGL and applies only to Basement levels 2 and 3 of the adjoining property. The lease is for a term of 250 years from April 2008 at a peppercorn rent. E P C T E N A N C Y Excluding the leases detailed below, the property will be sold with full vacant possession achievable upon completion in Q Basement level 1, excluding the atrium base, and part ground floor is subject to a lease in favour of Aldgate Tower Investment S.a.r.l, the owners of the adjoining property. The lease is for a term of 250 years from December 2005 at a peppercorn rent. London Power Networks PLC hold a lease over an electricity transformer chamber located within the basement of the property. The lease is dated 5th April 2007 and runs for a term of 99 years at a peppercorn rent. Copies of the leases can be found in the online data room. Aldgate Union has an EPC rating of C (65). VAT RBS has made an option to tax in relation to Aldgate Union. Not to scale. For indicative purposes only. H London Metropolitan University 3 1 TYNE STREET Aldgate East Station Ward Bdy Bank Posts 122 WHITECHAPEL HIGH STREET Underground Railway Subway 15.1m Subway Cycle Hire Station Maersk Hous HALFMOON PASSAGE Posts 6 El Sub Sta BRAHAM STREET Half Moon Passage Standon House 18 Ordnance PH Survey Crown Copyright All rights reserved. Licence number Plotted Scale - 1: P 19 9 CR RE

21 20/21 P L A N N I N G Aldgate Union is located within the London Borough of Tower Hamlets. The property is not listed nor is it situated within a Conservation Area but it does sit within the area controlled by the Aldgate Masterplan The Aldgate Masterplan illustrates the building s location in a zone designated for tall buildings. Planning consent was granted on 20 January 2004 (PA/01/01424) for the refurbishment of Aldgate Union and the redevelopment of a tower building immediately to the east, Aldgate Tower, which has now been completed (see Both elements of the application were designed by Wilkinson Eyre Architects and the refurbishment of Aldgate Union included extending the building along its western elevation, adding an additional floor and re-cladding all elevations. A CGI of how the building might look is shown below. The Changing Face of Aldgate The Aldgate area is undergoing substantial change at present, with a view to encouraging economic and social regeneration and accommodating future growth through several infrastructure and development projects. Certain works have already been completed, such as the new Braham Street Park immediately adjacent to the property which is built on a site formerly occupied by the Aldgate gyratory traffic system. This 160 metre long public space includes grassed and planted areas, water features and seating, creating much needed additional green space. Further changes should take place in the period leading up to 2016, with major improvements to traffic flow and public realm planned including a new public space centred on the Sir John Cass Foundation Primary School and the St Botolph without Aldgate Church. Further projects will include improvements to cycling and pedestrian routes, introduction of greenery and public space and improved street lighting. A major upgrade in 2016 by the Aldgate Highway Changes and Public Realm Improvements Projects will dramatically improve the area for both business and leisure Computer generated image

22 D E V E L O P M E N T P O T E N T I A L Opportunity to significantly extend and enhance Aldgate Union REFURBISHMENT AND REDEVELOPMENT OPTIONS The vendor has instructed architects Sheppard Robson to undertake a number of feasibility studies which explore various options, ranging from refurbishment of the existing office accommodation through to whole-scale redevelopment, subject to the necessary consents. REFURBISHMENT AND EXTENSION OPTION The building provides the opportunity to substantially refurbish the current accommodation and deliver attractive floor plates into an emerging occupational market characterised by increasing tenant demand and limited availability. REDEVELOPMENT Sheppard Robson have designed an indicative office scheme to illustrate the potential of the site for redevelopment. This involves demolition of the existing building to ground floor slab level and the creation of a new Grade A, BREEAM Excellent, 18 storey office tower providing approximately 644,000 sq ft of net internal area, subject to the required consents. A copy of the full Sheppard Robson Feasibility Study is available in the online data room. Sheppard Robson have produced a scheme to illustrate the potential of the site following substantial refurbishment and remodelling. This scheme involves some of the following works: > Relocation of plant to basement level to free up roof space for a two storey extension; > Rationalisation of office cores to increase net internal area; > Re-branding and enhancement of reception; > Removal of existing stone cladding to be replaced with high performance new curtain walling and atrium roof. R E F U R B I S H M E N T A N D E X T E N S I O N P R O P O S E D N E T I N T E R N A L A R E A L E V E L U S E S Q F T S Q M N i n t h (n e w) O f f i c e 3 5, , E i g h t h (n e w) O f f i c e 3 5, , S eve n t h O f f i c e 3 5, , S i x t h O f f i c e 3 5, , F i f t h O f f i c e 3 5, , F o u r t h O f f i c e 3 5, , T h i rd O f f i c e 3 5, , S e c o n d O f f i c e 3 5, , F i r s t O f f i c e 3 4, , G ro u n d O f f i c e & 1 6, , A n c i l l a r y B a s e m e n t 1 O f f i c e 1, B a s e m e n t 2 O f f i c e 2 0, , B a s e m e n t 3 O f f i c e & 1 2, , A n c i l l a r y T O TA L 3 6 5, , 9 5 5

23 22/23 CGI of Sheppard Robson refurbishment scheme Rationalised typical floor plate AREA GAINED Office AREA GAINED AREA GAINED AREA GAINED AREA GAINED AREA GAINED AREA GAINED AREA GAINED AREA GAINED Office AREA GAINED

24 P R I C I N G We are instructed to seek offers in excess of 85,000,000 (Eighty Five Million Pounds) subject to contract and exclusive of VAT. Assuming purchaser s costs of 5.80%, this reflects a low capital value of 333 per sq ft overall. C O N TA C T & V I E W I N G If you would like the opportunity to inspect the property, or if you require any further information, then please contact: Martin Lay Tel: martin.lay@dtz.com James Ball Tel: james.ball@dtz.com David Hookey Tel: david.hookey@dtz.com Andrew Lowe Tel: andrew.lowe@dtz.com D ATA R O O M An online data room is available at Misrepresentation Act 1967 & Declaration DTZ, a UGL company give notice to anyone who may read these particulars as follows: 1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4. The photographs appearing in this brochure show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 7. Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact. February Designed and produced by The Looking Glass Design. T:

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