3,028 SQ M (32,600 SQ FT)

Modern headquarters oFFICe InvestMent

Rightwell house RIGHTWELL ROADPETERBOROUGH, PE3 8DW

InTRODUcTIOn

A MODERn HEADQUARTERS OFFIcE BUILDInG TOTALLInG 32,600 SQ FT LOcATED In OnE OF THE UK’S FASTEST GROWInG cITIES

SUMMARy

Modern HQ office building totalling 3,029 sq m (32,600 sq ft) in one of the UK’s fastest growing cities

The property comprises the UK Headquarters for HaskoningDHV UK Ltd (T/A Royal HaskoningDHV UK Ltd)

Income secured for a further 13 years to a strong covenant with a tenant break in 8 years’ time

current rent £488,910 per annum

Royal Haskoning DHV UK Ltd is Europe’s leading project management, engineering and consulting service provider

Freehold

Excellent car parking provision of 1:233 sq ft

we are instructed to seek offers of £3,850,000 (Three million eight hundred and fifty thousand pounds) reflecting a net initial yield of 12.00% assuming purchasers costs of 5.8% and a capital value of only £118 per sq ft

InVESTMEnT SUMMARyGrade A specification, well let office HQ investment opportunity

LOcATIOn

A1(M)

A1

B660

B671

A605

A605A605

B1091B1095

B1040

B1443

A1073

A15

A16

A47A15

A15

16

LONDON

PETERBOROUGH

A47

A47

A15

A1260

A1179

A1139

A1139

17

A47

CRESSETSHOPPING CENTRE

1: BOOTS2: SAINSBURY'S3: CRESSET4: NEXT, SPORTS DIRECT, COSTA & PEACOCKS

1 2

43

16

BR

ETTO

N W

AY

BR

ETTO

N W

AY

RIGHTWELL E

RIG

HTW

ELL

E

BR

ETTON

WAY

BR

ETTON

WAY

BRETTON GATE

RIG

HTW

ELL W

B RETTON GREEN

locationPeterborough is one of the UK’s fastest growing cities benefiting from its central location situated 80 miles north of London, 85 miles east of Birmingham and 41 miles east of Leicester.

Approximately 550,000 people live within a 30 minute drive of the city centre, providing a diverse workforce attracting major employers which include churchill Insurance, Thomas cook, Travelex, Diligenta, Bauer, norwich & Peterborough Building Society, BGL Group and Baker Perkins.

The A1(M) is located 6 miles to the west which links the city to the national motorway network. The property also benefits from its close proximity to the A47 which in turn provides direct access to the M1 motorway to the west.

Peterborough is well connected nationally by main line train services which run from the city into Kings cross Station in only 45 minutes. Stansted and Luton International Airports are located 65 miles and 58 miles south respectively.

POSTcODE: PE3 8DW

SITUATIOn

PAT

H A

ND

CYC

LE T

RAC

KBRETTON

GREEN

RIG

HT

WE

LLE

AS

T

LIBRARYSTIRLING HOUSE

HOLY SPIRIT

OF THE

ELSUBSTA

THE CHURCH

CAR PARK

ELSUB STA

POLICESTATION

PH

0M 10M 20M 30M

RIGHTWELLHOUSE

BRETTON GREENOFFICE VILLAGE

The property is located in Rightwell East in the commercial centre of Bretton, just to the north west of Peterborough City Centre.

The property occupies a prominent position adjacent to Soke Parkway (A47) which is accessed from Bretton Gate. Nearby occupiers include Thomas Cook Group who have located their head office in the area and Fusion (previously Budget Insurance).

adjacent to the property is the cresset shopping centre which provides excellent amenities in close proximity for employees where occupiers include sainsbury, iceland and aldi amongst others.

situation

DEScRIPTIOn

Rightwell House comprises an ‘L’ shaped office building on ground and 2 upper floors totalling 3,029 sq m (32,600 sq ft), which was fully refurbished and extended in 2006.

The property is of steel frame construction with brick elevations beneath a pitched roof. It comprises Haskoning’s UK Head Office and benefits from the following specification:

accommodationthe property has been measured in accordance with the Rics code of measuring Practice (6th edition) and has the following approximate net internal areas:

FLoor sq M sq FtGrd - Offices 876.6 9,436

Grd - Reception 93.2 1,003

1st - Offices 1,023.1 11,012

2nd - Offices 1,035.8 11,149

TOTAL 3,028.7 32,600

descRiPtion

Flexible accommodation capable of single or multi occupation (floor-by-floor and/or wing-by-wing)

Excellent natural light

Fully air-conditioned

Suspended ceilings incorporating fluorescent strip lighting

Full access raised floors

Impressive reception area

central service core incorporating one 10 person passenger lift and male/female Wc facilities on each floor. In addition, there is a further service core with a service lift and Wc facilities on alternate floors

Externally, there is a mixture of hard/soft landscaping together with parking for 140 cars, which reflects an excellent ratio of 1:233 sq ft

TEnAncy

tenancy

Fully let to haskoningdhV uK ltd as their uK head office

the property is fully let to haskoningdhV uK ltd (formerly known as haskoning uK ltd), trading as Royal haskoningdhV uK ltd, for a term of 20 years expiring 28 september 2026 with a tenant only break option on 29 september 2021, on a full repairing and insuring lease at a passing rent of £488,910 per annum.

there is a bank guarantee of £539,134.65 from lloyds Bank Plc which subsists until 31 december 2025.

cOVEnAnT

Royal HaskoningDHV UK Ltd is the result of a recent merger between Royal Haskoning and DHV, which has produced one of Europe’s leading project management, engineering and consultancy service providers.

With over 8,000 professional staff working from 100 offices in 35 countries, Royal Haskoning DHV Ltd carries out more than 30,000 projects every year in planning, infrastructure, maritime, aviation, energy, and buildings.

For further information please visit www.royalhaskoning.co.uk

HaskoningDHV UK Ltd (no.1336844) has a Dunn & Bradstreet rating of 2A1 and represents a minimum risk of business failure having reported the following financial results.

coVenant

www.ROyALHAsKOnIng.cO.UK

Fiscalnon consolidatedGBP 31 dec 2012

Fiscalnon consolidatedGBP 31 dec 2011

Fiscalnon consolidatedGBP 31 dec 2010

turnover 57,008,298 64,531,862 66,455.307Pre tax profit 2,742,398 5,049,590 1,926,407tangible net worth 4,112,841 4,212,276 3,518,683

there is a bank guarantee of £539,134.65 from lloyds Bank Plc which subsists until 31 december 2025.

cOnTAcT

PRoPosalWe are instructed to seek offers of £3,850,000 (Three million eight hundred and fifty thousand pounds) reflecting a net initial yield of 12.00% assuming purchaser’s costs of 5.8% and a capital value of only £118 sq ft.

Prospective purchasers should be aware of the opportunity to purchase the SPV in which the property sits – further details available upon request.

Subject to contract.

VatThe property has been elected for VAT, however, it is anticipated the sale shall be treated as a Transfer of Going concern (TOGc).

ePcEPc Grade c - 59

London office

EDWARD cORnWELLTel: 0207 484 8126 Mob: 07801 259 470 edward.cornwell@bnpparibas.com

EDWARD JAcKSOnTel: 0207 338 4032 Mob: 07881 249 667 edward.jackson@bnpparibas.com

BiRMinGHAM office

OLIVER FORSTERTel: 0121 237 1213 Mob: 07896 072 701 oliver.forster@bnpparibas.com

AnDREW MEIKLETel: 0121 237 1238 Mob: 07703 119 913 andrew.meikle@bnpparibas.com

contact details

Misrepresentation Act 1967: BnP Paribas Real Estate Advisory & Property Management UK Limited for themselves and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1. These particulars do not constitute, nor constitute any part of, an offer or contract. 2. none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact. 3. Any intending purchaser or lessee must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor(s) or lessor(s) do not make or give and neither BnP Paribas Real Estate Advisory & Property Management UK Limited nor any person in their employment has any authority to make or give, any representation or warranty whatever in relation to this property. Finance Act 1989: Unless otherwise stated all prices and rents are quoted exclusive of VAT. Property Misdescriptions Act 1991: These details are believed to be correct at the time of compilation but may be subject to subsequent amendment. October 2013

Freehold

tenuRe

SUMMARY CASH FLOW FORECAST Haskoning

Acquistion Details Financing Details

No of Keys 32,600.00 Interest rate on Senior Debt: 4.50%

Project Term 5 years Interest rate on Mezz Loan: 12.00%

Price per sq ft Cost of Mezz 0.50% per annum

3,850,000 12.70% 118.10 Corporate Tax rate 20.00%

Acquisition cost 0.00% - Loan amortisation rate 0%

Loan arrangement fee 1.00% - Asset Details

Stamp duty 4.00% 154,000 Capital Value at acquistion 126.77

Legal Fees- incl VAT 0.42% 16,170 Refurbishment Costs -

Agents Fees- Incld VAT 1.50% 57,750 Rates/Service Fee -

Mezz Loan Set Up 0.50% 16,363 Accumulated Cash Flow in project -

Structuring and Due Diligence 1.00% 38,500 To be funded - 126.77

8.42% 4,132,783 Capital Value at exit 166.64

Initial Return 11.83% Management Fees

Capital Value per sq ft 126.77£ Property Managemement Fees- on rent 2.00%

Financed by: Property Management fee incl VAT 2.40%

Investment Management fees of value

Pure Equity 15% 860,283 21% VAT 20%

Mezz Loan 85% 3,272,500

Mezz Loan set up cost 16,363 3,288,863 80% 4,132,783 Exit Details

on the acquisition price

Price per sq ft 100 9.00%

Senior Debt 0% - Sale price 5,432,333

Senior Debt set up cost - 0% - Selling cost 5.75% 312,359-

100% 4,132,783 Loan Exit Cashflow -

Rental Details Terminal cashflow 5,119,974

Annual rental 2013 15.00 488,910

1st rent reviews 15.00 488,910 Return Details

2nd rent review 15.00 488,910 Cash on Cash coupon per annum 10.00%

Compunded rent Growth 0.00% per annum Dividend Payments per annum 413,278

IRR of Investor 11.90%

1st Quarter re-let rent 122,228 Exit Yield 9.00%

Re-let commission 0% - Number of shares 10 413,278.25

1st Quarter re-let rent after commission 122,228 Payback during lease term 3,598,044.00 0.87

Year Quarter Rental Refurb Costs Mangt fees Invt Mngr Loan Int General Mezz Int Taxable Tax Income Loan repay Loan Net Income In Mezz return Senior return Project

Investor cash

Flow Rolling Running

0.0000% 2.00% 4.50% Expenses 12.0% Income 20% After Tax 0% Balance Property Co. 11.5% 0.0% Cash Flows 10.00% Cash Flow Yield

- 4,132,783- 4,132,783-

2013 4 122,228 - 2,445 - 1,100 98,175 22,953 4,591 18,362 - - 18,362 94,084 - 112,446 - 112,446 10.88%

2014 1 122,228 - 2,445 - 1,100 98,175 22,953 4,591 18,362 - - 18,362 94,084 - 112,446 206,639 18,254 10.88%

2 122,228 - 2,445 - 1,100 98,175 22,953 4,591 18,362 - - 18,362 94,084 - 112,446 - 130,700 10.88%

3 122,228 - 2,445 - 1,100 98,175 22,953 4,591 18,362 - - 18,362 94,084 - 112,446 206,639 36,507 10.88%

4 122,228 - 2,445 - 1,100 98,175 22,953 4,591 18,362 - - 18,362 94,084 - 112,446 - 148,954 10.88%

2015 1 122,228 - 2,445 - 1,100 98,175 22,953 4,591 18,362 - - 18,362 94,084 - 112,446 206,639 54,761 10.88%

2 122,228 - 2,445 - 1,100 98,175 22,953 4,591 18,362 - - 18,362 94,084 - 112,446 - 167,207 10.88%

3 122,228 - 2,445 - 1,100 98,175 22,953 4,591 18,362 - - 18,362 94,084 - 112,446 206,639 73,015 10.88%

4 122,228 - 2,445 - 1,101 98,175 22,952 4,590 18,361 - - 18,361 94,084 - 112,446 - 185,460 10.88%

2016 1 122,228 - 2,445 - 1,102 98,175 22,951 4,590 18,360 - - 18,360 94,084 - 112,445 206,639 91,266 10.88%

2 122,228 - 2,445 - 1,103 98,175 22,950 4,590 18,360 - - 18,360 94,084 - 112,444 - 203,710 10.88%

3 122,228 - 2,445 - 1,104 98,175 22,949 4,590 18,359 - - 18,359 94,084 - 112,443 206,639 109,514 10.88%

4 122,228 - 2,445 - 1,105 98,175 22,948 4,590 18,358 - - 18,358 94,084 - 112,442 - 221,956 10.88%

2017 1 122,228 - 2,445 - 1,106 98,175 22,947 4,589 18,357 - - 18,357 94,084 - 112,442 206,639 127,759 10.88%

2 122,228 - 2,445 - 1,107 98,175 22,946 4,589 18,356 - - 18,356 94,084 - 112,441 - 240,199 10.88%

3 122,228 - 2,445 - 1,108 98,175 22,945 4,589 18,356 - - 18,356 94,084 - 112,440 206,639 146,000 10.88%

4 122,228 - 2,445 - 1,109 98,175 22,944 4,589 18,355 - - 18,355 94,084 - 112,439 - 258,439 10.88%

2018 1 122,228 - 2,445 - 1,110 98,175 22,943 4,589 18,354 - - 18,354 94,084 - 112,438 206,639 164,239 10.88%

2 122,228 - 2,445 - 1,111 98,175 22,942 4,588 18,353 - - 18,353 94,084 - 112,438 - 276,676 10.88%

3 122,228 - 2,445 - 1,112 98,175 22,941 4,588 18,352 - - 18,352 94,084 - 112,437 206,639 182,474 10.88%

4 122,228 - 2,445 - 1,113 98,175 22,940 4,588 18,352 - - 18,352 94,084 - 112,436 - 294,910 10.88%

2019 1 122,228 - 2,445 - 1,114 98,175 22,939 4,588 18,351 - - 18,351 94,084 - 112,435 206,639 200,706 10.88%

2 122,228 - 2,445 - 1,115 98,175 22,938 4,588 18,350 - - 18,350 94,084 - 112,434 - 313,140 10.88%

3 122,228 - 2,445 - 1,116 98,175 22,937 4,587 18,349 - - 18,349 94,084 - 112,434 206,639 218,935 10.88%

4 122,228 - 2,445 - 1,117 98,175 22,936 4,587 18,348 - - 18,348 94,084 - 112,433 - 331,367 10.88%

2020 1 122,228 - 2,445 - 1,118 98,175 22,935 4,587 18,348 - - 18,348 94,084 - 112,432 206,639 237,160 10.88%

2 122,228 - 2,445 - 1,119 98,175 22,934 4,587 18,347 - - 18,347 94,084 - 112,431 - 349,592 10.88%

3 122,228 - 2,445 - 1,120 98,175 22,933 4,587 18,346 - - 18,346 94,084 - 112,430 206,639 255,383 10.88%

4 122,228 - 2,445 - 1,121 98,175 22,932 4,586 18,345 - - 18,345 94,084 - 112,430 - 367,812 10.88%

2021 1 122,228 - 2,445 - 1,122 98,175 22,931 4,586 18,344 - - 18,344 94,084 - 112,429 206,639 273,602 10.88%

2 122,228 - 2,445 - 1,123 98,175 22,930 4,586 18,344 - - 18,344 94,084 - 112,428 - 386,030 10.88%

3 122,228 - 2,445 - 1,124 98,175 22,929 4,586 18,343 - - 18,343 94,084 - 112,427 206,639 291,818 10.88%

4 - - - - 1,125 - - - - - - - - - - - 291,818 0.00%

2022 1 - - - - 1,126 - - - - - - - - - - 206,639 85,179 0.00%

2 122,228 - 2,445 - 1,127 98,175 22,926 4,585 18,340 - - 18,340 94,084 - 112,425 - 197,604 10.88%

4 5,119,974 5,119,974 5,317,578

9,153,482 - 80,670 - 38,878 3,239,775 757,106 151,421 605,684 - 3,104,784 - 4,697,660 4,697,660

Quarterly Yearly NO OF SHAREHOLDERS 10

INVESTOR IRR 2.85% 11.90% PRICE PER SHARE 413,278.25£