New Bond Street, London, W1 MAYFAIR, LONDON W1

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1 New Bond Street, London, W1 MAYFAIR, LONDON W1

2 143 New Bond Street, London, W1 02 Exceptionally rare Bond Street investment with asset management opportunities INVESTMENT SUMMARY Prime New Bond Street Retail, gallery, office and residential accommodation 11,857 sq ft (1,102 sq m) Long leasehold - c.41 years remaining at a fixed ground rent of 3,350 pa Multi-let Ralph Lauren children s store Passing rent - 1,125,300 pa Only 599 ITZA Asset management opportunities include: Extend headlease Enfranchising the residential apartment Extend retail into the car park and upper floors to the rear Offers in excess of 30,000,000 Net initial yield % Reversionary yield % Capital value - 2,530 per sq ft

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5 New Bond Street, London, W1 LOCATION 143 New Bond Street is located in the heart of Mayfair on the west side of New Bond Street and opposite the world renowned Sotheby s auction house. The property occupies a mid-terraced position close to the junctions of Bruton Street and Conduit Street to the south and Grosvenor Street and Maddox Street to the north. MAYFAIR AND BOND STREET As the most connected retail and leisure location in the World, the West End attracts over 200 million shoppers annually spending in excess of 7.6bn. Consumer expenditure is predicted to increase to some 9.1bn per annum by 2016 with over 37% of shoppers coming from overseas and the remainder from either outside or across greater London. Running from Oxford Street through to Piccadilly, Bond Street is known as Europe s premier retailing destination offering the most exclusive and prestigious brands. Luxury retailers include Prada, Cartier, Chanel, Hermes, Asprey, Tiffany & Co, Giorgio Armani, Burberry, Ralph Lauren, Patek Philippe and Louis Vuitton to name but a few. The West End, with Mayfair at the very heart, is ranked number one globally for international flagship designer stores with a world class mix of over 600 shops, 40 renowned theatres, 30 museums and galleries, 17 Michelin star restaurants and 7 green spaces. Mayfair hotels and restaurants include The Ritz, Claridge s, Brown s, The Connaught, Cecconis, Scott s, Harry s Bar, Nobu, Gordon Ramsey, The Wolseley, Hakkasan, The Art s Club and La Petite Maison.

6 143 New Bond Street, London, W1 06 OLD BOND STREET DIOR CHANEL LOUIS VUITTON HERMES MIU MIU CONDUIT STREET

7 New Bond Street, London, W1 MOUNT STREET BERKELEY SQUARE BRUTON STREET NEW BOND STREET FENDI IWC BELSTAFF SOTHEBY S

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9 Not to scale. Indicative only. The most connected retail and leisure location in the World, the West End attracts over 200 million shoppers annually, spending in excess of 7.6bn

10 143 New Bond Street, London, W1 010 COMMUNICATIONS Oxford Circus Underground Station 0.3 miles away Mayfair benefits from excellent transport links with four key London Underground stations on its boundary. CROSSRAIL Bond Street Underground Station is currently undergoing a major transformation to become a key hub of the Crossrail network. At present the station carries 155,000 passengers a day and once completed the capacity and footfall will increase to 225,000 people daily with commuters being able to travel from Heathrow Airport to Bond Street in just 26 minutes. Due for completion in 2018, Crossrail will provide a new high speed train service providing thousands of commuters quick access into and across London. Linking Maidenhead and Heathrow Airport in the West through central London and across to Shenfield & Abbey Wood in the East, Crossrail will bring 1.5 million additional people within 60 minutes reach of London s key business districts and will carry more than 200 million passengers a year. 0.4 miles away Piccadilly Circus Underground Station 0.5 miles away Green Park Underground Station 0.5 miles away Bond Street Underground Station 500 buses pass down Oxford Street every hour further interconnecting Oxford Street and Mayfair with the whole of the capital

11 New Bond Street, London, W1 STRATFORD ROMFORD SHENFIELD Stansted HAYES & HARLINGTON EALING BROADWAY PADDINGTON TOTTENHAM COURT ROAD LIVERPOOL STREET MAIDENHEAD WEST EALING ACTON MAIN LINE BOND STREET FARRINGDON WHITECHAPEL CUSTOM HOUSE ABBEY WOOD HEATHROW AIRPORT Luton Gatwick Heathrow CANARY WHARF WOOLWICH Artist s impressions of the proposed Eastern Crossrail entrance for Bond Street station at Hanover Square

12 143 New Bond Street, London, W1 BRO OK S TRE ET BOND STREET RETAIL 012

13 New Bond Street, London, W1 GRAFTON STREET BRUTON STREET ET ND STRE NEW BO ALBEMARLE STREET ROYAL ACADEMY OF ARTS BURLINGTON GARDENS 143 New Bond Street is located in the heart of Mayfair on the west side of New Bond Street and opposite the world renowned Sotheby s auction house.

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15 New Bond Street, London, W1 DESCRIPTION Originally built in the mid-18th Century, 143 New Bond Street was rebuilt behind a Grade II listed façade in 1957 and comprises a modern and attractive mixed use building providing retail, gallery, office and residential accommodation. Arranged over lower ground, ground and six upper floors the property provides a total of 11,857 sq ft (1,102 sq m). The retail unit is arranged over lower ground and ground floors totalling 3,261 sq ft (303 sq m) and benefitting from 9m of prime retail frontage to New Bond Street. The upper floors provide gallery/office accommodation at first floor level, self-contained offices over second to fifth floors and a residential apartment on 6th floor with balcony and stunning views over New Bond Street and the West End. The upper floors are accessed via a separate dedicated entrance also from New Bond Street. A car park affording 7 spaces and totalling 1,903 sq ft (176.8 sq m) is provided at basement level and is accessed from Bruton Place.

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20 143 New Bond Street, London, W1 020 First floor gallery

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22 143 New Bond Street, London, W1 022 LOWER GROUND FLOOR Car Park New Bond Street Car Park Gate GROUND FLOOR W/C Retail New Bond Street Lift W/C TYPICAL UPPER FLOOR (2nd) Office New Bond Street W/C Lift W/C Not to scale. Indicative only.

23 New Bond Street, London, W1 ACCOMMODATION FLOOR USE AREA (SQ FT) AREA (SQ M) Sixth Residential Fifth Offices Fourth Offices Third Offices Second Offices First Offices/Art Gallery 2, Ground Retail 2, Zone A Retail Zone B Retail Zone C Retail Zone D Retail (ITZA) (Retail) (1,283) (119.2) Basement Storage Ground Floor Bruton Place Car Space (7) 1, TOTAL 11,857 1,101.6

24 143 New Bond Street, London, W1 024 TENANCIES Multi-let in accordance with the tenancy schedule below producing a total rental income of 1,125,300 p.a. TENANT FLOORS USE AREA SQ FT AREA SQ M LEASE TERM RENT REVIEW (BREAK) RENT PA (PSF) ERV COMMENTS Molyneux Rose LLP Sixth Residential /03/ /03/2016 Fifth Offices Fourth Offices Basement Car Spaces (7) 1, N/A 139,000 ( 51.36) 216,480 ( 80.00) Lease guaranteed by MJ Gillies, MR Little, JR Lochrane and CM Tippets. 6th floor sublet to Molyneux Investments Ltd. 5th floor sublet to Pelican Partners (Peterborough) LLP. Rent psf does not include car parking. Whitebox Advisors London LLP Third Offices /07/ /07/ ,000 ( 51.81) 77,200 ( 80.00) Outside 1954 Act. Rent deposit of 36,000 held. Service charge cap of 10,000 pa subject to RPI linked uplifts. Pivotal Holdings Ltd Second Offices ,000 ( 50.86) 78,640 ( 80.00) Leaseback of the second floor to the vendor with terms to be agreed. Olivier Malingue Ltd First Offices or Art Gallery 2, /06/ /06/ /06/2017 (26/06/2017) 111,300 ( 54.59) 203,900 ( ) On assignment from Ayyam Gallery London Ltd. Outside 1954 Act. Rent deposit of 139,560 held. Service charge cap of 25,200 pa subject to RPI linked uplifts. Rent reviewed to higher of A1 or B1. If break not operated 6 months at 50% of rent from 26/06/2017 to 25/12/2017. Ralph Lauren London Ltd Ground Retail 2, /06/ /06/2026 (ITZA) Retail (1,283) (119) 24/06/2016 & 24/06/ ,000 ( 599 ZA) 1,289,840 ( 1,000 ZA) Let on effective full repairing and insuring lease. Basement Storage TOTAL 11,857 1,102 1,125,300 1,866,060

25 New Bond Street, London, W1 TENURE Long leasehold from The Mayor and Commonality and Citizens of the City of London for a term of 99 years from the 25th March 1958 (c.41 years remaining) at a fixed ground rent of 3,350 per annum. MADDOX STREET ST GEORGE STREET BOURDON STREET BLOOMFIELD PLACE NEW BOND STREET BRUTON PLACE BRUTON STREET Not to scale. For identification purposes only. This plan is based upon the Ordnance Survey Map with the sanction of the controller of H.M. Stationery Office. Crown Copyright reserved.

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27 New Bond Street, London, W1 ASSET MANAGEMENT OPPORTUNITY 143 New Bond Street provides numerous asset management opportunities including: - Extension of existing retail unit into the car park - Re-gear the head lease - Extend the upper floors over the first floor gallery - Dispose of / enfranchise the residential apartment - Refurbishment of the office floors - Asset management of the upcoming lease events

28 143 New Bond Street, London, W1 028 MARKET COMMENTARY INVESTMENT Demand for prime London property remains extremely strong as the market continues to see historically low interest rates whilst maintaining its appeal as a safe haven. As the most connected retail and leisure location in the World, the West End of London attracts over 200 million shoppers annually spending in excess of 7.6bn, underpinning London s role as a premier retail destination and offering occupiers strong sales and footfall levels. Availability of prime quality retail stock continues to be heavily outweighed by burgeoning demand by foreign and domestic investors leading to increased competition and yield compression. UK institutions and overseas investors continue to dominate the market seeking quality assets, wealth preservation coupled with asset management and growth opportunities. Below we set out details of some recent retail led West End investment transactions: DATE ADDRESS POSTCODE AREA (SQ FT) TENURE PRINCIPAL RETAIL TENANT PRICE NIY CAPITAL VALUE (PSF) Q3, Mount Street W1 31,320 LLH Celine 81,000, % 2,586 Q3, Oxford Street W1 8,147 FH Retro London 40,000, % 4,910 Q Oxford Street W1 2,541 FH Accessorize & Dr Martens 23,100, % 9,908 Q Oxford Street W1 5,700 FH EE Limited 20,000, % 3,509 Q Knightsbridge SW1 2,781 VFH Rolex 22,250, % 8,000 Q Oxford Street W1 19,076 FH Footlocker & Tiger 42,500, % 2,228 Q New Bond Street W1 31,313 FH Breitling, Corneliani & Church s 210,000, % 6,706 Q3, New Bond Street W1 9,994 FH HSBC 18,750, % 1,876 Q New Bond Street W1 19,691 FH Belstaff 110,000, % 5,586

29 143 New Bond Street, London, W1 OCCUPATIONAL Bond Street continues to be highly desired and revered by luxury brands due to its undoubted worldwide reputation as a premier retailing destination. Home to many flagship stores, the street has one of the strongest concentrations of luxury brands with retailers seeing a Bond Street presence as a must have for brand growth and identity. Rental growth remains extremely strong as demand for units on the street severely outstrips supply with large key money often being paid alongside record rents to secure limited opportunities amongst fierce competition. Above we set out details of some recent retail led Mayfair occupational transactions *The above information has been provided by 3rd parties and is subject to verification.

30 143 New Bond Street, London, W1 030 EPC VAT 143 New Bond Street has an EPC rating of E (124). The property is VAT elected. PROPOSAL Offers in excess of 30,000,000 for the benefit of our client s leasehold interest, reflecting a net initial yield of 3.55% and a reversionary yield of 5.88% after deducting purchaser s costs of 5.8%. A purchase at this level represents a capital value of only 2,530 per sq ft.

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32 143 New Bond Street, London, W1 032 FURTHER INFORMATION For further information or to arrange an inspection, please contact: Mark Shipman Direct Line: +44 (0) Peter Ng Direct Line: Scott Lister Direct Line: +44 (0) Peter Wetherell Direct Line: +44 (0) Robert Windsor Direct Line: +44 (0) Misrepresentations Act 1967 & Declaration: Michael Elliott and Wetherell for themselves and for the vendors of this property whose agents they are given notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Michael Elliott nor Wetherell has any authority to make or give any representations or warranty whatever in relation to this property. September (Q3237)