The heron City of LondonRestaurant Investment within one of London’s most prestigiousresidential developments

Investment Summary

Prime restaurant investment in a landmark City of

London residential tower

Prestigious City address in a vibrant cultural hub

Adjacent to the Barbican Centre and a 2 minute walk

from Moorgate station, which will soon benefit from

a Crossrail ticket hall

Ground floor restaurant with a total gross internal

area of 3,289 sq ft (305.6 sq m)

Recently let on a 15 year lease to Italian restaurant

operator Caterina 55

Passing rent of £137,500 per annum, reflecting

£41.80 per sq foot

The building also accommodates 285 luxury apartments

and is home to the Guildhall School of Music and Drama.

These are not included in the sale

Long leasehold interest until 2208 with 193 years

unexpired at a peppercorn rent

Offers invited in excess of £2,000,000, reflecting 6.50% NIY after standard purchaser’s costs of 5.8%

The heron 5 Moor Lane CiTy of London eC2y 9aP

Core City LocationCaterina 55 is located in the heart of the City in the newly developed landmark residential development, The Heron.

As well as being the world’s leading financial centre, the City is a vibrant cultural hub attracting seven million visitors a year and a growing residential population.

The restaurant is situated on the corner of Silk Street and Moor Lane. As the home of the Barbican Centre and the world renowned Guildhall School of Music & Drama, this prestigious City address is at the heart of a growing cultural hub.

Other nearby cultural landmarks such as St Paul’s, Guildhall Yard, the Museum of London and the London Symphony Orchestra’s Music Education Centre, have made this one of London’s most popular destinations for visitors.

Surrounded by the vibrant areas of Tech City, Whitecross Street, Clerkenwell and East London, Barbican has attracted several business schools and the headquarters of major law firms and banks including Linklaters, Slaughter and May, Macquarie and JP Morgan.

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ST PAUL’SCATHEDRAL ROYAL EXCHANGE

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BARBICANCENTRE

CateRIna 55

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tHe CItY OF LOnDOn – ReStaURant InVeStMent OPPORtUnItY

110 BISHOPSGate

30 St MaRY aXe

LIVeRPOOL StReet StatIOn

The heron

BaRBICan

CommunicationsThe property is very well connected, with Moorgate Train and Underground Stations within 320 metres and Barbican Underground Station within 640 metres. St Paul’s and Liverpool Street Stations are also within easy walking distance, connecting the property with London and the UK.

The arrival of two new Crossrail stations at Farringdon and Liverpool Street in 2018 will contribute to the rise of this vibrant and fashionable destination. Crossrail is among the most significant infrastructure projects ever undertaken in the UK. It will deliver a high frequency, high capacity train service to 40 stations, servicing around 200 million passengers per year and it will provide a 10% increase to rail capacity in the capital.

Liverpool Street’s western ticket hall will be constructed metres away from the property as an extension to the existing Moorgate Underground Station. Farringdon will become one of Britain’s busiest train stations as a key link bringing over 140 trains per hour from outer London to the City and Canary Wharf.

Key rail and tube stations Walking times

Moorgate CircleHammersmith & CityMetropolitanNorthernCrossrail

2 minutes

Liverpool Street CircleHammersmith & CityMetropolitanCentralCrossrail

7 minutes

Barbican MetropolitanCircleHammersmith & City

7 minutes

Farringdon MetropolitanCircleHammersmith & CityCrossrail

15 minutes

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DescriptionThe property offers 61 feet (18.6 metres) of fully glazed frontage to Silk Street with a smaller return frontage to Moor Lane. It is arranged as an open plan restaurant at ground level, with ancillary storage space and rear access.

The building as a whole was developed by Heron International and the City of London Corporation and completed in 2013, providing 285 luxury apartments. Designed by David Walker Architects, the development façade appears as a large scale mosaic of clear, opaque black and dark grey glass and silver anodised aluminium, all outlined with polished stainless steel.

The 36 storey luxury residential skyscraper extends to 367 feet (112 metres) and is the first major new residential development in the City for over 30 years. The residential element has been sold off on long leases and is not included within the sale.

The Heron was built to accommodate new state-of-the-art facilities for the world-renowned Guildhall School of Music & Drama over the bottom eight floors of the development. In its scale and ambition, the building is now an international cultural destination presenting around 100 public performances a year. The building which accommodates 900 students, features two theatres and a sumptuous 608-seat concert hall, the largest concert hall of any other conservatoire in the UK. The Guildhall School of Music & Drama is not included within the sale.

Schedule of AccommodationThe property provides the following floor areas to a total of 3,289 sq ft (305.6 sq m) on a GIA basis.

GIA NIA

Area Sq M

Area Sq Ft

Area Sq M

Area Sq Ft

Ground Floor Retail 297.1 3,198 276.6 2,977

Ground Floor Storage 8.5 91 8.5 91

Total 305.6 3,289 285.1 3,068

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TenureLong leasehold

Term: 199 years Expiry: 21st March 2208 (c. 193.3 years remaining) Rent: Peppercorn rent

The consent of the City of London, as freeholder, is required for the grant of the long lease and completion will take place once consent has been obtained.

Tenancy DetailsThe property is let to Alaxia Limited on a 15 year lease from 3rd February 2014 expiring on 2nd February 2029 at a rent of £137,500 per annum, reflecting £41.80 per sq foot.

The effective FRI lease is contracted inside the L&T Act 1954. The landlord benefits from pre-emption rights.

The unit benefits from permitted use as a high class restaurant and ancillary bar with food and drink consumption on or off the premises within User Class A3.

The tenant benefits from licences to supply alcohol and play music Monday to Sunday from 10:00 am to 22:30 pm.

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for indicative purposes only

This is a print of the view of the title plan obtained from Land Registry showing the state of the title plan on 21 July 2014at 18:13:46. This title plan shows the general position, not the exact line, of the boundaries. It may be subject todistortions in scale. Measurements scaled from this plan may not match measurements between the same points on theground. See Land Registry Public Guide 19 - Title plans and boundaries.

This title is dealt with by Land Registry, Wales Office.

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CovenantAlaxia Limited is a new venture conceived by the Cosso family and set up in 2012 by a group of Italian investors including Azimut, Italy’s leading independent asset manager. Alaxia launched its first restaurant from The Heron in June this year, trading as Caterina 55. The restaurant is a quality fast food restaurant serving traditional Italian home-made dishes using only natural seasonal ingredients. The restaurant offers all-day drinking and dining, take-away and delivery services, targeting office workers and students from the neighbouring business schools and the Guildhall School of Music.

Experian have awarded Alaxia Limited a below average risk rating of 72/100.

A rent deposit equivalent to 9 months rent has been provided by the tenant.

For more information please visit www.caterina55.com.

VATThe property has been elected for VAT and it is envisaged that the transaction will be treated as a transfer of going concern.

EPCAn EPC is available on request.

ProposalWe are seeking offers for the leasehold interest in excess of £2,000,000 (Two Million Pounds) reflecting 6.50% NIY after standard purchaser’s costs of 5.8%.

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MISREPRESENTATION ACT 1967 AND DECLARATION CBRE Limited for itself and for the vendor/lessor as agents for the vendor/lessor gives notice that:1. We provide the information contained in these particulars for guidance to intending purchasers, licencees or any other third parties and they are for your general information only and will be used at your own risk.2. We will use all reasonable endeavours to ensure the accuracy of information, however, we do not guarantee or warrant the accuracy or completeness, factual correctness or reliability of any information in the particulars (especially as the information may have been obtained from third parties) and do not accept any liability for any errors or omission including any inaccuracies or typographical errors. 3. Any interested purchasers, licencees or any other third parties should not view the information in the particulars as statements or representations of fact and should satisfy themselves that the fact and specifi c details in the particulars are correct and accurate especially in relation to fl oor areas and other measurements through inspection or other means, as appropriate, and will be responsible for taking independent surveys or valuations before entering into any legally binding transaction in respect of the property or premise that is the subject matter of these particulars.

SUBJECT TO CONTRACT CBRE, January 2015 © Produced by Barbican Studio 020 7634 9571

ContactsLiz Parsons

Tel: 020 7182 2682Liz.parsons@cbre.com

Claire Bradley

Tel: 020 7182 2294Claire.bradley@cbre.com

CBRE

Henrietta HouseHenrietta PlaceLondon W1G 0NBwww.cbre.co.uk

The heron