PRIME FREEHOLD INVESTMENT FOR SALE

28 & 29 ST JOHN’S LANECLERKENWELL EC1

(INCLuDINg 81-87 ST JOHN STREET)

LOCATIONThe Clerkenwell /Smithfield area is now one of the most fashionable business locations in Central London being home to a mixture of top professional firms, international furniture showrooms, famous fashion labels and many companies in the architectural, design and creative fields.

Supported by a venerable history and a regenerated residential sector, the area has attracted world class boutique hotels and Michelin starred restaurants all contained within approximately one square mile of activity close to the City and West End, served by two underground stations, a mainline station and many bus routes.

CrOssrAILThe current redevelopment of Farringdon Station promises to set a new standard in transport interchanges. When complete, it will connect Thameslink, Crossrail and London underground, providing much needed extra capacity to this key part of London and also give direct access to Heathrow, gatwick, City and Luton airports along with St. Pancras International rail station.

DEsCrIPTION AND ACCOMMODATION The investment comprises two adjacent period properties on the east side of St John’s Lane, just south of the Historic gate of St John. Farringdon Station is a short walk from the properties providing underground services (Circle, City & Hammersmith, Metropolitan lines) and mainline services (Thameslink). The two properties intercommunicate with Nos 81- 87 St John Street (included in the demise) which is a six storey building on the west side of St John Street, where the ground/basement commercial space and 7 flats have been sold off on long leases.

28 st John’s Lane (including 81- 87 st John street) Planned over seven storeys the upper floors comprise 16 luxury apartments which are subject to leases of 125 years producing a ground rent income.

The ground and lower ground floors comprise prestige furniture showrooms let on an occupational lease to ‘Workstation’ providing the following accommodation:-

ground Floor 1,850 sq ft (171.87m²)

Lower ground 2,622 sq ft (243.59m²)

Total 4,472 sq ft (415.46m²)

29 st John’s LanePlanned over six storeys, the upper floors comprise 4 luxury apartments which are subject to leases of 125 years producing a ground rent income.

The lower ground, ground and mezzanine at 29 St John’s Lane comprise prestige office premises which are let on an occupational lease to Tag Europe Ltd providing the following accommodation:-Mezzanine 1,289 sq ft (119.75m²)ground Floor 1,300 sq ft (120.77m²)Lower ground 1,511 sq ft (140.38m²)Total 4,100 sq ft (380.90m²)

INCOME28 St John’s Lane £115,00029 St John’s Lane £115,000* 28 St John's Lane (FgR) £2,75081 – 87 St John’s Street (FgR) £2,45029 St John’s Lane (FgR) £1,400Total income £236,600

(*The vendor will ‘top up’ the rental income for 29 St John Street to the full Year 5 rent).

TENANT’s COVENANTs

WorkstationFormerly The Workstation (London) Ltd incorporated in 2001. Workstation is one of the uK’s leading providers of commercial contract office furniture products, specialising in the delivery of high end corporate interiors working with a wide variety of manufacturing partners including, inter alia, Herman Miller. The company had a turnover for the year ending 31/05/12 of £6.407m with a pre-tax profit of £366,000. Experian scores the company as A ie Very Low Risk (confidence).

Tag Europe Tag Europe Ltd was incorporated in 1988 and is a subsidiary of Tag Worldwide group Ltd (ultimate Holding Company: Deutsche Post Ag). Tag is an international design and production agency dedicated to helping clients and agencies create, manage and deliver their brand messages across the world. The company had a turnover for the year ending 31/12/10 of £68,489m with a pre-tax profit of £6,656m. Experian scores the company as A, ie Very Low Risk (confidence).

VAT The properties are elected for VAT

Tenure Freehold

Proposal Offers are invited in excess of £3,150,000 which reflects a net yield of 7.10% assuming purchasers costs at 5.8%.

28 & 29 ST JOHN’S LANE CLERKENWELL EC1 (INCLuDINg 81-87 ST JOHN STREET)

NEWGATE STREET (A40)

GOSW

ELL R

OA

D (A

1)

CLERKENWELL ROAD (A5201)

FARRINGDON

ROAD (A201)

CHARTERHOUSE STREET

SMITHFIELD ST

LONG LANE

TURNM

ILL STREET

ST JOH

NS ST

BRITTON STREET

ST JOHN

S LANE

SAFFRON H

ILL

GREAT SUTTON STREET

New PoultryMarket

Queen MaryUniversity of LondonCharterhouse Square

Campus

BarbicanFarringdon

Misrepresentation Act: These particulars are prepared for the guidance only of prospective purchasers or lessees. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. Any information contained herein is given in good faith but should not be relied upon as being a statement or representation of fact and purchasers or lessees must rely on their own enquiries in this regard.

Tenant/s Floor Use Area sq M Area sq Ft Lease Terms rent review rent p.a. Comments

28 st Johns Lane

The Workstation(London) Ltd

ground/Lower ground

Offices/Showrooms 415.46 4,472 10 years from 01/06/2012 01/06/2017 £115,000 Tenant's break option at 5th year

9 x Leaseholders 1st/5th Flrs Residential 125 years from 25/03/1998 £2,750ground rents double every 30 years

81/87 st John street

1 x Leaseholder ground/Lower ground

Offices/Showrooms 125 years from 24/06/2002 0 Peppercorn Rent

7 x Leaseholders 1st/5th Flrs Residential 125 years from 24/06/2002 £2,450 ground rents double every 30 years

29 st Johns Lane

Tag Europe Ltdground/Mezzanine/ Lower ground

Offices 380.90 4,100 10 years from 25/03/2011 25/03/2016 £115,000Increasing rent over first 5 years. Shortfall to £115,000 be made up by vendor.

4 x Leaseholders 1st/4th Flrs Residential 125 years from 25/03/2001 £1,400 ground rents double every 25 years

TENANCy sChEDULE

JOINT AGENTs

Derek Lewis Hurford Salvi Carr +44 (0) 20 7566 9440 derek.lewis@h-s-c.co.uk

Chris Antoniou / Stephen Page Anton Page +44 (0) 20 7336 1313 chrisantoniou@antonpage.com

796.36 8,572 £236,600