PROPERTY PORTFOLIO 1

PROPERTY PORTFOLIO 1

CONTENTS 01 Introduction 04 Residential 18 Student Accommodation 36 Mixed Use & Commercial 48 Contacts INTRODUCTION McLaren Property is the real estate development and investment division for the McLaren Group. McLaren Property undertakes developments both independently and in joint venture partnerships with sector specialists. Together, it has a pipeline of development assets in excess of 1.5bn in London and the UK. Historically, new build development activity has focused on the London luxury residential apartment sector and the prime student accommodation markets in London, Oxford, Cambridge and other top ranking university cities throughout the UK. Within the wider UK regional markets, McLaren undertakes major regeneration mixed use schemes incorporating retail, food, leisure and hotel development. Kevin Taylor Chairman McLaren SA 2 3

MANAGING DIRECTOR S STATEMENT We have been supported in creating our development pipeline by partnerships with leading lending banks, specialist lenders including mezzanine providers, institutional funds, private equity investors and joint venture partners. 15 8 6 7 4 2 3 5 18 1 9 10 20 11 We will continue to invest group capital and source new opportunities within our current sectors, as well as identifying new opportunities in other real estate markets and regions. 19 SECTORS & PROJECTS John Gatley Managing Director, McLaren Property 12 27 26 21 16 24 13 14 25 22 17 23 RESIDENTIAL 1 Tower Fifty, London 2 Maddox Street, London 3 Pall Mall, London 4 Portland Place, London 5 Upper Brook Street, London 6 Courtfield Gardens, London 7 Lords View, London 8 Fitzjames & Fitzgeorge, London STUDENT ACCOMMODATION 9 Paris Gardens, London 10 Paul Street, London 11 Greenwich High Road, Greenwich 12 Lower Bristol Road, Bath 13 Newmarket Road, Cambridge 14 Mill Road, Cambridge 15 Hillside Crescent, Edinburgh 16 Manor Place, Oxford REGENERATION 20 Clifton Street, London 21 Berkshire House, Ascot 22 Harlow, Essex 23 Circus Street, Brighton 24 Octagon Parade, High Wycombe 25 BT Leavesden Park, Watford 26 Dolphin Square & Premier Inn, Weston-super-Mare 27 Clevedon 17 Lewes Road, Brighton 18 Seven Sisters Road, London 19 Hallfield Road, York 4 5

RESIDENTIAL 6 7

TOWER FIFTY LONDON Tower Fifty is a new build, residential led, mixed use scheme extending to approximately 51 storeys. It will provide 440,000 sq ft of private residential, affordable housing, office and retail space. The Kohn Pedersen Fox designed scheme comprises two towers of diverse shared amenity space, 360 private residential units and 90 affordable residential units; 35,000 sq ft of commercial B1 office space; 7,500 sq ft of retail space and parking for 107 cars. Located in the Vauxhall Nine Elms regeneration area, the site is ideally positioned within Zone 1 directly opposite Vauxhall Station, from which London Underground trains, National Rail trains and London buses are all available. Additionally, Vauxhall is easily accessible by major roads and the Thames Path pedestrian and bicycle path. Location Vauxhall, SW8 1SQ Sector Residential Size 440,000 sq ft GDV 490m Status Resolution to grant consent Construction Q4 2015 2019 8 9

MADDOX STREET LONDON 6-8 Maddox Street involves the conversion of the upper four floors of an existing office building to create five large, lateral, luxury apartments close to one of London s most vibrant retail destinations. Located on the eastern end of Maddox Street, the property is near the junction with Regent Street and close to the busy Soho district of Central London. A self-contained retail unit on the ground and lower floors let to Virgin Money has been pre-sold on a long lease whilst the apartments on the upper floors are under construction and to be offered for sale into the open market. Maddox Street is characterised by a stunning Victorian red brick façade and elegantly appointed apartments within. Location Mayfair, W1 2QD Sector Residential Size 6,584 sq ft GDV Circa 17m Status Under construction Construction July 2013 February 2015 10 11

PALL MALL LONDON 42-43 Pall Mall comprises a new build development behind a classic Portland stone façade to create four luxury residential apartments with retail units on the ground and lower floors. Located on the northern side of Pall Mall, within the exclusive enclave of St James s, the development faces directly onto Pall Mall and is bound on both sides by commercial properties. This facilitates a complex construction retaining one façade, and entire demolition of the other façade and the whole structure behind. The new scheme will retain the period façade of the right hand building and construct a new contemporary façade to the left. The luxurious apartments will benefit from bespoke kitchens, direct lift access together with balconies and roof terraces to all units. Location St James s, SW1Y 5JG Sector Residential Size 11,535 sq ft GDV Circa 30m Status Under construction Construction July 2013 February 2015 12 13

PORTLAND PLACE LONDON Situated on London s only Parisian boulevard, the conversion of this beautiful period building with a rich façade of Portland stone created seven stunning apartments with substantial private terraces. 5 Portland Place, situated in one of London s historical 18th century streets, is an imposing architectural building with a beautiful rich façade crafted from precious Portland stone. It is located adjacent to the Langham Hotel and the new BBC headquarters. The property has been restored to create seven three bedroom duplex apartments on the lower ground, ground and seven upper floors. The apartments feature bespoke interiors and substantial private terraces. McLaren Property was selected under fierce open market competition to purchase this prestigious development. Planning was granted in early 2011 for the conversion from office accommodation into luxury residential apartments. The development was completed in March 2013 and fully sold by August 2013. Location Marylebone, W1B 1PW Sector Residential Size 14,000 sq ft GDV 32m Status Complete and sold Construction April 2012 March 2013 14 15

UPPER BROOK STREET LONDON Located just off Grosvenor Square, this prime residential property comprises five refurbished apartments over six storeys. The apartments range in size from 750 sq ft to 2,000 sq ft. Following enfranchisement of the freehold interest, the existing building was demolished to allow for the construction of three new, super luxury duplex and triplex apartments. Each new build unit benefits from external amenities with either a sunken garden, roof terrace or balcony. The property is located just off Grosvenor Square and provides views across the square and the American Embassy. It is a short walk away from Marble Arch, Bond Street and Oxford Street underground stations. Following significant interest, the property was sold with the benefit of the planning consent prior to construction. Location Mayfair, W1K 6PA Sector Residential Size 5,800 sq ft (7,500 sq ft as consented) GDV 25m Status Sold Construction Sold prior to construction 16 17

COURTFIELD GARDENS LONDON This freehold, residential mansion block is located in South Kensington between Earls Court and Gloucester Road. The project involves reconfiguring the block to create five new build apartments. The scheme originally comprised nine flats totalling 4,372 sq ft. Under existing planning permission, the layouts within the consented envelope have been redesigned to create five two, three and four bedroom duplex and lateral apartments, totalling a saleable area of 6,371 sq ft. The building has been extended to the rear on the lower ground to second floors to create additional saleable area. Construction completes in December 2014 at which point the units will be offered for sale. One apartment pre-sold achieving a record breaking price for the nearby area. Courtfield Gardens is located just off the A4, Cromwell Road, between Earls Court and Gloucester Road. The area comprises predominantly attractive period town houses. A number of properties in the area have been refurbished to a very high standard. Location South Kensington, SW5 0PH Sector Residential Size 6,371 sq ft GDV Circa 13m Status Under construction Construction September 2013 - December 2014 18 19

STUDENT ACCOMMODATION

PARIS GARDENS LONDON Paris Gardens is a prime central London development comprising a nine-storey and 13-storey tower connected by a central podium. The property houses 253 student bedrooms and the Central School of Ballet. The student bedrooms are split between self-contained one bedroom studio flats and two bedroom cluster units. The lower levels of the building provide a new 3,000 sq ft home for the Central School of Ballet, with dance studios visible from the Hatfields side of the building. Residents of the student accommodation, accessed from the Paris Gardens side, enjoy the use of roof gardens and a terrace. The south western and south eastern corners of the towers feature living walls of greenery. Paris Gardens is located close to the south bank of the River Thames, within a 15 minute walk of Covent Garden and central London. King s College and London School of Economics (LSE) are within a five minute walk, and there is easy access to the University College London Bloomsbury campus. Location Paris Gardens, SE1 8DJ Sector Student Accommodation Size 253 beds & 3,000 sq ft education GDV Circa 50m Status Completed and opened September 2013 Construction November 2011 September 2013 22 23

PAUL STREET LONDON The Paul Street scheme is a student accommodation development comprising 456 bedrooms and communal areas. There are two blocks of accommodation across the site extending to ten storeys. The scheme also comprises a stand alone office building of approximately 43,000 sq ft of office space at Clifton Street. The development will be fitted out to an exceptionally high standard, with communal areas featuring both a gymnasium and resident cinema. The project will be built to BREEAM Very Good rating with green roofs, cycle storage and landscaped courtyards. Located in the Shoreditch area, the site is situated within five minutes walk of Old Street, Moorgate and Liverpool Street underground stations. Several universities, including London Metropolitan University, City University and Cass Business School, are within five to ten minutes walk. Location London, EC2A 4JU Sector Student Accommodation Size 456 beds and ground floor retail unit GDV Circa 100m Status Purchased with planning Construction November 2013 July 2015 24 25

GREENWICH HIGH ROAD GREENWICH The prestigious University of Greenwich Daniel Defoe Hall provides accommodation for 358 students. It is located within The Movement, the vibrant new development on the former Greenwich Industrial Estate. Student accommodation consists of a mix of en suite studio apartments and larger accommodation built to a high standard of specification. Additionally, the development includes 6,500 sq ft of D1/B1 space at ground floor fitted out as a refectory plus a 300 sq ft Bike Café. The site is situated next to Greenwich Docklands Light Railway and Mainline Railway stations, in close proximity to Greenwich Town Centre and within a mile of four Higher Education institutions: University of Greenwich, Goldsmiths College, Ravensbourne and Trinity Laban Conservatoire. Greenwich is a popular tourist destination and residential area with a rich history. It is home to the Old Royal Naval College, credited as a World Heritage Site in 1997. Additionally, the O2 Arena provides concerts and events throughout the year and is a significant attraction within the local area. Location Greenwich, SE10 8JA Sector Student Accommodation Size 358 beds & 6,500 sq ft commercial GDV Circa 44m Tenure 35 year lease to Greenwich University Status Pre-sold to Legal & General Property Construction October 2012 May 2014 26 27

LOWER BRISTOL ROAD BATH Situated to the west of Bath city centre, this new student accommodation development will consist of 330 student beds for direct let. The units will be laid out in self contained studio flats, en suite cluster units and shared town houses. This property is well located to the west of Bath city centre on the main Lower Bristol Road, equidistant between Bath University and Bath Spa University, and close to two existing Unite schemes, which are let under agreement with Bath Spa University. There are currently no purpose built direct let schemes in Bath. Bath University is ranked third in the UK by the Sunday Times. It has over 17,000 students, 25% of which are from overseas. Location Bath, BA2 1EW Sector Student Accommodation Size 330 beds GDV Circa 31.5m Status Under construction Construction May 2014 July 2015 28 29

NEWMARKET ROAD CAMBRIDGE Brunswick House comprises 24 self-contained studio apartments and 227 single study rooms in a combination of three, four and five bedroom en suite cluster flats. All rooms are furnished to a high specification. The property, located within the new landmark Cambridge Riverside Development and sited on the edge of the Midsummer Common and River Cam, has been designed to a high level of sustainability. Brunswick House is a short distance from both the pedestrianised university streets of central Cambridge and the Anglian Ruskin University Campus. In addition to the two main universities, there are a large number of colleges, language schools and international education providers in Cambridge, all of whom have active and growing requirements for purpose built student housing. It is estimated that in excess of 7,000 students are housed in the private sector. Location Cambridge, CB5 8EG Sector Student Accommodation Size 251 beds GDV Circa 25m Status Sold Construction July 2011 July 2012 30 31

MILL ROAD CAMBRIDGE Mill Road is a freehold site close to Anglian Ruskin University and the University of Cambridge. Subject to planning, it will house 331 student bedrooms in a mix of studio, en suite and town house rooms. The site is a key student location in Cambridge with accessible bus routes into the town centre. Located close to Anglia Ruskin University and the University of Cambridge, the area has a strong demand for purpose built student accommodation. The universities in Cambridge currently have 31,911 students but are only in a position to offer 15,936 students accommodation in the halls of residences. This represents 49% of the full time student population. McLaren Property s recently sold Brunswick House, has achieved 100% occupation for the second year running since completion in 2012. McLaren has identified Cambridge as a key location and with Mill Road, it will capitalise on the already demonstrated high demand market. Location Cambridge, CB1 3DF Sector Student Accommodation Size Circa 331 beds GDV 37.8m Status Subject to planning Construction January 2015 July 2016 32 33

HILLSIDE CRESCENT EDINBURGH Elliott House is a prime student accommodation redevelopment of a former office building. The property is located in Hillside Crescent, within a largely residential area to the north east of Edinburgh city centre. The building is located on an attractive crescent overlooking the Royal Terrace Gardens. The area consists of largely historic buildings and is within 10 minutes walk of Waverley Railway station and the city centre shops, bars and restaurants. In keeping with its historic surroundings, the conversion will include replacing existing concrete cladding with natural stone on the main front elevations, and bronze coloured rain screen to the top floor and aluminium windows. Elliot House will be finished to a high quality internally to provide boutique studio accommodation arranged over lower ground, ground and five upper floors. Construction will start during summer 2014 with completion for the academic year 2015/16. Location Edinburgh, EH7 5EA Sector Student Accommodation Size 138 studio beds GDV 16.9m Status Pre-construction Construction October 2014 to July 2015 34 35

MANOR PLACE OXFORD In keeping with its unique and sensitive location in Oxford city centre, Manor Place is designed to the highest standards. It will comprise 316 bedrooms with high quality amenity space and common areas. The scheme is located to the east of Oxford city centre, approximately 500 metres from Oxford High Street and in a prime area for various university colleges and the University of Oxford Science area. The site has been acquired, subject to planning, on a 99 year lease from Merton College. A planning application will be submitted late 2014 with the building completed in time for the 2016 academic year. Oxford University is a collegiate university with over 40 colleges and halls. It has over 20,000 students and is the oldest university in the English speaking world. Oxford Brookes University, which is also located in the city, has over 18,000 students, 17% from overseas. Location Oxford, OX1 3UN Sector Student Accommodation Size Circa 316 beds GDV Circa 45m Tenure Long leasehold Status Subject to planning consent Construction Start 2015 36 37

MIXED USE & COMMERCIAL

CLIFTON STREET LONDON The Clifton Street development is a high quality office block in London s Shoreditch area. The six storey building will be fitted out to Category A standard and will extend to approximately 50,000 sq ft. The project will be built to BREEAM Very Good rating with green roofs, cycle storage and landscaped courtyards with water features. The site is equidistant between Old Street, Moorgate and Liverpool Street underground stations and within five minutes walk of each. The development has been designed to take into account the demand from occupiers in the technology, media and telecoms sector who are locating in and around the Old Street and Shoreditch areas. The specification for the building reflects the preference among these firms for exposed ceilings and brickwork. Location London EC2A 4LG Sector Commercial Size 47,000 sq ft GDV Circa 20m Status Under construction and pre-sold Construction October 2012 July 2015 40 41

HARLOW ESSEX The redevelopment of a 20 acre site in Harlow, will seethe demolition of former premises owned by Glaxo Smith Klein and Pitney Bowes. This new centre is being constructed The new pre-let 350,000 sq ft distribution facility for Poundland was forward funded by Standard Life, who now retain the ongoing investment following completion in August 2014. The process involved assembling the 20 acres from various ownerships, thereafter permission was sought for planning permission alongside agreeing terms. The adjoining sites are located 1.5 miles west of Harlow town centre and are accessed by four entrances off the main Elizabeth Way ring road. They are fully serviced, with the main connections coming through the central entrance on Elizabeth Way. The prominent site consists of circa 350,000 sq ft of existing industrial and office accommodation. Location Harlow, CM19 5BD Sector Industrial Distribution Size 350,000 sq ft GDV 35m Status Sold Construction September 2013 August 2014 42 43

CIRCUS STREET BRIGHTON Circus Street in the centre of Brighton is a prime 1.8 acre site currently owned by the University of Brighton and Brighton and Hove Council. It is to be regenerated into a thriving mixed used quarter. Located to the east of Grand Parade, just a few minutes from Brighton Lanes, the Royal Pavilions and the seafront, the site includes the former municipal market, an NCP car park and Circus Street Annex building, which is occupied by the University s Arts Department. The scheme will regenerate the Circus Street area into a lively social, cultural and economic quarter with a creative focus bespoke to Brighton. Location Brighton, BN2 Sector Mixed Use Size 1.8 acre GDV 103.2m Status Planning granted Construction March 2015 November 2017 Once developed, it will provide a diverse mix of spaces, including 450 bed student accommodation, up to 142 residential apartments, 38,000 sq ft of corporate offices, a 40,000 sq ft library and teaching facility for the University of Brighton, 12,000 sq ft of dance studios and creative workspaces and 12,500 sq ft of restaurant/retail space. 44 45

OCTAGON PARADE HIGH WYCOMBE The first phase of this development is now complete. It consists of a 120 bedroom hotel let to Travelodge on a new 25 year lease with retail space on part of the first and ground floors. The development comprised the partial demolition of vacant office and retail sections of the building, followed by the construction of a new five storey hotel building. The development was undertaken whilst working around existing retailers who maintained trading throughout. Temporary works and a short term relocation allowed for the creation of a new enlarged retail unit for Sports Direct. Special acoustic treatment meant that the hotel could be built adjacent to an existing night club. The property is located in the centre of High Wycombe on the A40 flyover and adjacent to the busiest entrance to the new Eden Shopping Centre. As part of the town centre masterplan, discussions on the second phase are underway with the local authority. This phase will comprise a further mixed use development consisting of retail units at ground floor with major office development on the upper floors. Location High Wycombe, HP11 2HS Sector Mixed Use Size 120 bedroom hotel & 15,000 sq ft retail GDV Circa 11m Status Sold Construction September 2013 August 2014 46 47

1570-PGB-06 approved scheme Rev J generic DOLPHIN SQUARE & PREMIER INN WESTON-SUPER-MARE Dolphin Square is the first Big Box retail development in this area of Weston-super-Mare. The first phase of the ongoing development, a Premier Inn and Brewers Fayre, was completed with the investment sale. An exciting new 275,000 ft 2 prime retail and leisure development the redevelopment The 112 bedroom hotel and Brewers Fayre restaurant is located in the town a development centre by on the southern end of the high street. It fronts McLaren directly onto the Lifepromenade, Oxford Street and Carlton Street, and Limited is ideally located to attract leisure customers. DOLPHIN SQUARE weston-super-mare The next phase of development will provide prime retail and leisure space for an eight screen cinema, 20 lane bowling centre, branded restaurants, retail units and a 380 space multi storey car park. Dolphin Square is already helping to rejuvenate the town centre and, when complete, it will be a major attraction for the existing and expanding population of Weston-super-Mare. Location Weston-super-Mare, BS23 1TG Sector Leisure/Retail & Hotel Size Dolphin Square: 200,000 sq ft Premier Inn: 112 bed & associated retail GDV Dolphin Square: Circa 45m Premier Inn: Circa 8m Tenure Long Leasehold Status Dolphin Square: Under construction Premier Inn: Completed and sold Construction Dolphin Square: May 2011 Sep 2013 Premier Inn: July 2011 - May 2012 48 49

CONTACTS John Gatley Managing Director Craig Young Finance Director Graham Inglis Commercial Director Office Details 3rd Floor East Leconfield House Curzon Street London W1J 5JA T +44 (0)20 7101 8810 property@mclarengroup.com Tony Norris Legal Counsel Richard Angel Development Director, Residential Alex Aitchison Development Director, Mixed Use & Residential Jez Conen Development Director Mixed Use, Student Accommodation & Hotels Stuart Black Development Director, Regional Student Accommodation Ryan McGarry Development Director, London Student Accommodation & Residential 50 2 0 1 4 Co py r i g ht re ma i n s t h e p ro p e r t y of M c La re n Co n st r u ct i o n G ro u p P LC Desi g n by P h i l oso p hy p h i l oso p hyd esi g n. co m 51

MCLARENGROUP.COM az