27 Poultry Final Particulars - July 2009[1]

27-35 Poultry & 5 Princes Street

London EC2

1

On the instructions of Malcolm Shierson and Jamie Toynton Joint Administrators of Poultry Development Limited (in Administration)

27-35 Poultry &

5 Princes Street London EC2 A unique freehold building, at the heart of one of the world’s leading financial centres, with planning consent for a luxury hotel development and suitable for various alternative uses subject to the necessary consents.

1

27-35 Poultry - Image taken in 2006

27-35 PouLtry & 5 PrinCES StrEEt EC2

E xecutive S um m a ry

Former London headquarters for Midland Bank and subsequently HSBC Bank • Adjacent to the Bank of England in the heart of the City of London • Rare freehold occupying a site of just under one acre • GIA of circa 27,088 sq m (291,571 sq ft) • Planning consent for a 181 bedroom luxury hotel, with associated facilities, of circa 30,249 sq m (325,630 sq ft) GIA • Office and mixed use planning consent (lapsed) for partial redevelopment and extension of circa 30,285 sq m (325,985 sq ft) GIA • Alternative and mixed use potential subject to the necessary consents • Unique original features including the double height marble-lined banking hall, a safe depository and original boardrooms • Exceptional safe depository, which featured in the James Bond film “Goldfinger”

Substantial offers are invited for the freehold and 999 year leasehold interests

3

27-35 PouLtry & 5 PrinCES StrEEt EC2

FENCHURCH STREET

LIVERPOOL STREET

ANDAZ HOTEL LIVERPOOL STREET

LLOYD'S OF LONDON

THREADNEEDLES HOTEL THE ROYAL EXCHANGE

APEX LONDON WALL HOTEL (DUE TO OPEN NOVEMBER 2009)

THE BANK OF ENGLAND BANK DLR

THE MANSION HOUSE

CANNON STREET

5

27-35 PouLtry & 5 PrinCES StrEEt EC2

Loc at ion

Local occupiers

7

26

LOTHBU RY

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12.4m

1 32

27 to

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8

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6 to

JEW RY OLD y Ward Bd

Bank of England

25 Bank

IN PR

Bank

9

26

43

62

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Letter Box

13.1m

13

T EE TR m 'S S 13.1

8

35

BPs

8

CO UR T

MANSION HOUS

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Subway

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13.5m

Statue Wa rd

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6

Bank

1 to

H ou se

BUC K

© Crown Copyright 2009. All rights reserved. Licence number 100020449. Plotted Scale - 1:1577 RO O

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31

Statue

0m

25m

73

to 7 7

32

33

28

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12

7

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Bank

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ourt sC ate n gistr batio Ma Pro ices Off

Man sion

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14.0m

39

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Royal Exchange Steps

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BPs

War Memorial

Pope's He

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12.3m

6

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12.6m

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34

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75m

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32

1

27 to

POUL TRY

22

37 Bank

12

Bank station, which is adjacent to the property, is one of the most central and best connected London underground stations providing access to six rail services including the Central Line, DLR and Waterloo & City Lines. Mansion House, Cannon Street, Monument, St. Paul’s, Moorgate and Liverpool Street stations are all within easy walking distance.

38

14

36 to

0m

21

10

40

16

Bank

15 to 22

82

27-35 Poultry & 5 Princes Street

25

5

1

81 to

20

19

18

NE LA

10

PLAC E

BPs

27

1

11

1 to 3 REDE RICK'S

EW OM

Bank

36

17

L HO RT

12

1

11

15

42

9

The property’s frontages to both Poultry and Princes Street provide access to two of the most prestigious addresses within the City and benefit from substantial international recognition. Both streets run from the Bank junction, leading to Moorgate to the north and Cheapside to the west, both major City thoroughfares.

6

8

Bank

41

12.2m

Ward Bdy

1

27-35 Poultry and 5 Princes Street is positioned on a prime site at the very heart of the City of London, the financial capital of Europe, opposite and overlooking the Bank of England.

9

Bank

44

Area hatched red is held freehold together with 999 year leasehold. There is the benefit of a right of way over the area hatched dark blue. The areas shaded in light blue are also within the freehold/leasehold title, but only in respect of the vaults.

24 38

41

City Institutions

14.

Bank of Japan

31. Aberdeen Asset Management

1.

Guildhall

15.

Fortis Bank

32. Aviva

2.

Lloyd’s of London

16.

Dresdner Kleinwort Wasserstein

33. Swiss Re

3.

The Bank of England

17.

Standard Chartered Bank

34. Willis

4.

Mansion House

18.

West LB AG

35. Brown Shipley

19.

BNP Paribas

20.

ING

Professional

21.

Deutsche Bank

36. Clifford Chance

22.

HBOS

37. Eversheds

23.

Credit Agricole

38. Accenture

Banking & Finance

Retail on Cornhill Aerial shot of 27 Poultry

Bank Junction from Poultry

5.

RBS

6.

JP Morgan Chase

7.

Allianz Cornhill

24.

Commerzbank

39. White & Case

8.

NM Rothschild & Sons

25.

Lloyd’s TSB

40. Smith & Williamson

9.

UBS Investment Bank

26.

Schroders

41. SJ Berwin

10. JP Morgan Cazenove

27.

Nomura

11. Legal & General

28.

Fidelity

Corporate

12. Royal & Sun Alliance

29.

Morley

42. Hewlett Packard

13. Friends Provident

30. Barclays

43. British Telecom 44. National Power

7

27-35 PouLtry & 5 PrinCES StrEEt EC2

Description 27-35 Poultry and 5 Princes Street is a substantial Grade I listed City building, originally constructed in the 1920’s, and subsequently refurbished to provide approximately 27,088 sq m (291,571 sq ft) gross internal and 16,245.1 sq m (174,886 sq ft) current net internal of office and banking hall accommodation arranged over ground and six upper floors, together with some mezzanine and below ground levels. The building occupies a site of approximately 3,872.8 sq m (41,686 sq ft) being just less than one acre. Designed by the famous British architect, Sir Edwin Lutyens, the property has two substantial and imposing Portland stone façades fronting Poultry and Princes Street. The ground floor of the property provides a unique and impressive 2,514.1 sq m (27,061 sq ft) marble banking hall stretching between Poultry and Princes Street. The main building has been added to over the years, with the rear section of the building towards Princes Street having been added in the late 1960’s.

The ground floor provides access to numerous service cores with lifts and staircases to the upper and lower floors. The principal core provides three lifts serving all floors, with 14 lifts in total, including the bullion lift to the rear. The upper floors vary in layout, but the majority of the net floor area is open plan accommodation stretching from the Poultry to the Princes Street façade. The fourth and fifth floors retain elements designed by Sir Edwin Lutyens including wood panelled offices, boardrooms and meeting rooms. The first, second and third floors do not contain elements specifically designed by the architect and provide more flexible and open plan accommodation with good fenestration to both frontages, and internal light wells. A typical upper floor provides approximately 2,100 sq m (22,600 sq ft) of accommodation with natural light from all façades together with a number of internal light wells and access yards. The lower ground floor level incorporates a safe depository which provides 3,818 private boxes of varying sizes, ranging from small lockers to “walk-in” rooms. The substantial round door to the safe provides exceptional security, and is one of only two examples of its kind (the other being in Switzerland). The safe was featured in the 1964 James Bond film, “Goldfinger”.

Lutyens Dining Room

At ground floor level the building benefits from an access road from Poultry into Grocers Hall Court as well as shared access over St Mildred’s Court.

Marble Staircase

Fourth floor Hallway

Safe Depository

Third Floor

Lutyens Boardroom

9

27-35 PouLtry & 5 PrinCES StrEEt EC2

Banking Hall - Historic Image taken in 2006

11

27-35 PouLtry & 5 PrinCES StrEEt EC2

accom m odat ion tenure

The building provides the following approximate areas. Plowman Craven Associates have provided the net internal areas, and the gross internal areas have been scaled by architects, KSS Design Group from plans.

Floor

Use

Gross Internal Area

Net Internal Area

sq m

sq ft

sq m

sq ft

Freehold of whole, together with 999 year leasehold of whole.

tenancies 30 St. Mary Axe

E xisting isometric floor L ayouts

The property is offered for sale with vacant possession save two electricity substations at basement levels, let on leases to London Electricity Board and London Electricity PLC for 60 years from 29th September 1966 and 60 years from 22nd April 1991, respectively.

6th

Offices

1,511

16,264

969

10,432

5th

Offices

1,914

20,602

997

10,755

4th Mezzanine

Offices

63

678

57

617

4th

Offices

2,383

25,650

1,084

11,665

3rd

Offices

2,651

28,535

1,952

21,012

2nd

Offices

2,745

29,547

2,103

22,639

1st

Offices

2,773

29,848

2,138

23,009

Mezzanine

Offices

887

9,548

371

3,992

Ground

Banking Hall

3,154

33,949

2,514

27,061

Hotel Scheme

Lower Ground

Safe Depository

3,361

36,177

1,062

11,432

Lower Ground

& Ancillary

606

6,521

Basement 1

Meeting Rooms

3,361

36,177

1,829

19,686

Basement 2

Ancillary

2,285

24,596

563

6,065

Planning consent was granted on 12th November 2008 for refurbishment of the property, demolition and extension of part of the basement to sixth floor, change of use from bank (A2 use) and offices (B1 use), to provide a hotel (C1 use), with ancillary uses including shops, food and drink, drinking establishment, a health club (D2 use) and a private members club (sui generis). Listed building consent for this scheme was granted on 1st July 2008. This scheme provides a total GIA of approximately 30,249 sq m (325,630 sq ft).

27,088

291,571

16,245

174,886

The property was Grade I listed on 5th June 1972 and lies within the Bank Conservation Area. SIXTH FLOOR

FIFTH FLOOR

FOURTH FLOOR

We understand that the most sensitive elements of the building are essentially those parts specifically designed by Sir Edwin Lutyens, such as the banking hall, ‘principal offices’, board and ‘function’ rooms. These elements are principally incorporated within the lower ground (safe depository), ground, fourth and fifth floors.

THIRD FLOOR

Office Scheme

RE

ADN

EE D

LE

ST R

EE

T

SECOND FLOOR

TH

Total

Pl anning Summ ary

FIRST FLOOR PRI

Planning and Listed Building Consent were granted on 8th April and on 12th June 2003 respectively, for refurbishment, alteration and part demolition and extension to provide office, retail, health club and/or gym uses. The scheme provided a total GIA of approximately 30,285 sq m (325,985 sq ft) which provided approximately 18,503.6 sq m (199,171 sq ft) total net internal area. This consent expired on 7th April 2008. In the opinion of planning consultants, DP9, it is likely that the local planning authority would support this consent if the necessary applications were made.

NCE

S STR

EET

TRY OUL

Alternative Uses GROUND FLOOR

In addition, there is the potential for alternative and mixed uses, including hotel, serviced apartments, retail and leisure uses, subject to the necessary consents.

LOWER GROUND FLOOR

Please refer to the website www.knightfrankhotels.net/poultry, for further detail on planning aspects, such as the listing and the consented scheme, and opportunities for alternative uses for the building.

P

5 Princes Street frontage from Royal Exchange

BASEMENT LEVEL 1

Guildhall

Not to scale, for identification purposes only

One Poultry

BASEMENT LEVEL 2

13

27-35 PouLtry & 5 PrinCES StrEEt EC2

the Hot e l Con se n t The consented scheme makes provision for a luxury hotel with 181 bedrooms and suites, with very significant support and ancillary facilities. Many of the proposed public areas and rooms are located within the fine listed areas of the property.

Area Schedule – Consented Scheme Gross Internal Areas (GIA) (In m2)

The business case for a luxury hotel is strong. This landmark building offers an opportunity to create the City of London's foremost luxury hotel. The combination of its unique location in the heart of the City of London and the spectacular nature of the principal rooms within the building will combine to ensure delivery of high rate room business and strong food, beverage and other incomes. The location, adjacent to the Bank of England and surrounded by some of London’s most distinguished and influential occupiers, will ensure strong weekday business. The opulence and architectural merit of the building lends itself to a luxury hotel scheme which will undoubtedly help to drive weekend and leisure business.

Floor

Private Members Club

Hotel Use Class C1

Basement 3

1,589

1,451

Basement 2

50

1,352

Basement 1

50

2,402

Ground

96

3,037

Retail Use Class A1/A2

Leisure & Spa Use Class D2

Total

Gross External Area (GEA) (In m2)

3,040

3,298

1,747

3,149

3,285

998

3,450

3,608

3,302

3,428

125

35

Restaurant Use Class A3

9

Room supply in the City core remains relatively low and future supply seems likely to remain restricted due to the lack of suitable or viable new build or conversion opportunities.

Mezzanine

744

744

First

2,823

2,823

3,036

Subject to the necessary consents, there is the opportunity to increase the bedroom count, without diluting the high bedroom to suite ratio and improve the general layout of the consented scheme to suit the brand requirements of most major luxury hotel operators.

Second

2,784

2,784

2,976

Third

2,766

2,766

2,953

Fourth

2,668

2,668

2,907

Fifth

1,450

2,457

2,743

Sixth

1,961

1,961

2,196

Seventh

1,081

1,081

1,268

Eighth

24

24

35

30,249

32,543

Total

1,785

1,007

24,543

125

3,787

1,007

1,016

810

Source: EPR Architects

Bedroom Type Summary – Consented Scheme

All images are computer generated

Classic

Superior

Deluxe

Suite

TOTAL

25m² - 32m²

36m² - 50m²

57m² - 66m²

66m² - 260m²

Bedroom with en-suite bathroom, desk, occasional chair

Classic Room facilities in larger space / better views / listed features and additional furnishings

Open plan living area and bedroom facilities

Separate bedroom to additional living accommodation

Note: All rooms have been counted in their smallest possible configuration

Mezzanine

2

3

0

0

5

Level 1

10

17

3

6

36

Level 2

10

17

3

6

36

Level 3

10

18

2

5

35

Level 4

11

12

6

3

32

Level 5

10

4

0

0.5

14.5

Level 6

10

10

2

0.5

22.5

Total

63

81

16

21

181 Source: EPR Architects

15

27-35 PouLtry & 5 PrinCES StrEEt EC2

Hot E L Con S E n t E D PL a nS - E xa mPLE fLoorS Ground Floor

Fifth Floor

First Floor

Sixth Floor

Not to scale, for identification purposes only Source: EPR Architects

17

27-35 PouLtry & 5 PrinCES StrEEt EC2

Lon D on Hot E L m a r K E t CommEntary

Introduction London is the capital of the United Kingdom and one of the world's most important business, financial and cultural centres. Central London is home to more than half of the UK's top 100 listed companies and over 100 of Europe's 500 largest companies. The City has a dominant role in several international financial and insurance markets and the economy of the Metropolitan area generates approximately 30% of the UK's GDP. London is also a major tourist destination for both domestic and overseas visitors, with annual expenditure by tourists of around £15 billion.

to their greater exposure to the Corporate and MICE markets. The ARRs achieved in the Luxury segment in the last down cycle remained relatively constant and growth in the up cycle has been exceptionally strong.

10 Year RevPAR Index 1.75 1.5 1.25

Hotel Property Market Hotel transaction activity in Europe remained subdued in 2008 with the total amount of hotel transactions down by 60% from the previous year, although there were several significant transactions in the London luxury segment. So far in 2009, transactional activity throughout Europe has remained low, however there is a clear increase in investor and operator interest for assets in prime locations like London and Paris. Investor sentiment is improving, in particular from lower leveraged, long term investors looking for opportunistic acquisitions.

Yields have been moving out for all commercial property, but with the flight to quality, yields for prime hotel opportunities have remained fairly stable in locations such as London and Paris. In fact, many international investors believe that this is an opportune time to buy with attractive capital value levels and favourable exchange rates. London’s relative resilience and the prospect of a sustained recovery make London one of the most sought after hotel property markets.

1 0.75

Hotel Market Performance

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

The London hotel market has traditionally achieved one of the world’s highest occupancy and room rates, and the market fundamentals have held up well in 2008 resulting in an increase of 3% in Revenue Per Available Room (RevPAR). The latest STR Global figures for May 2009 show that London outperforms its European peers with the lowest decline in RevPAR of any of the European capital cities. The outlook for the London hotel market, as Europe’s leading gateway city and the host of the 2012 Summer Olympic Games, remains amongst the most upbeat in Europe.

European Capitals Hotel Market Performance 2008 ARR €

2008 ARO

2008 RevPAR €

RevPAR Change* Full Year 2008

RevPAR Change* YTD May 2009

London

146

80%

117

3%

-8%

Paris

181

78%

141

5%

-17%

Berlin

88

70%

61

4%

-14%

Madrid

112

64%

71

-7%

-31%

Rome

155

65%

100

-10%

-16%

*in local currency

Source: STR Global, Knight Frank

Central London Development and Redevelopment Transactions Luxury Segment

All Segments

Source: STR Global, Knight Frank

There is a considerable quantum of proposed developments in the London luxury and 5 star sectors. Although some debt providers have returned to the market, the current financial restrictions on new development and the top prices paid at the peak of the last cycle, lead us to believe that a large number of these developments should be considered at risk and that bedroom supply growth will remain limited in the short and medium terms. A group of major international luxury hotel operators are reaching out to set a new performance benchmark level, aiming to distinguish themselves through a superior quality of service with increased room sizes and superior fit out and facilities in their properties. This may further improve the profile of the London luxury hotel market and create room for performance growth.

London Luxury Segment Performance

Property

Location

Room Count*

Buyer

Year

Operator

Site Price in Million £

Per room £

Tenure

Comment

Café Royal (development)

Soho

171

Alrov Group

2008

TBA

90

526,000

Leasehold

Includes retail units

Metropole (development)

Whitehall

296

IHI

2008

Corinthia

130

439,000

Freehold

Includes 12 residential units

Two Thistle Hotels (development)

Kensington

638 **

Lancer

2008

TBA

320

502,000

Freehold

Normandie House (development)

Knightsbridge 81

HNWIs

2007

TBA

Confidential

Confidential

Freehold

27 Poultry (development)

City

181

Private

2007

N/A

72

398,000

Leasehold (Now Freehold)

Four Seasons (redevelopment)

Mayfair

200

Premier Group

2006

Four Seasons

75

375,000

Leasehold

Grosvenor House Apartments (redevelopment)

Mayfair

133

Kuwaiti Consortium

2006

TBA

145

1,090,000

Leasehold

10 Trinity Square (development)

City

121

Thomas Enterprises

2006

TBA

104.5

863,636

Majority Freehold

The Savoy (redevelopment)

Strand

263

Kingdom

2005

Fairmont Hotels

230

875,000

Freehold

* After development

£ 450

** Before development

Includes 5 residential units

Includes 30 residential units

Source: Knight Frank

% 85 80

400

75

London Luxury Hotel Market Segment

350 70 300

Over the last 10 years, the London Luxury segment has outperformed the overall London hotel market and continues to do so in the downturn, in part because the corporate segments are more exposed to fluctuations in trade due

65 60

250

2002

2003

2004

2005 ARR

2006

2007

2008

ARO

Source: STR Global, Knight Frank

19

27-35 PouLtry & 5 PrinCES StrEEt EC2

Lon D on Hot E L m a P

27-35 Poultry & 5 Princes Street

Existing Hotels 1 2 3 4 5 6 7 8 9 10

The Savoy, London, WC2 Strand Palace Hotel, London, WC2 One Aldwych, London, WC2 The Waldorf Hilton, London, WC2 Kingsway Hall Hotel, London, WC2 Renaissance Chancery Court, London, WC1 Citadines Apart’hotel London Holborn - Covent Garden, London, WC1 Swissôtel The Howard, London, WC2 Crowne Plaza London The City, London, EC4 The Zetter, London, EC1

11 12 13 14 15 16 17 18 19 20 21 22 23

The Rookery, London, EC1 Club Quarters St. Pauls, London, EC4 Malmaison, London, EC1 Grange St. Pauls, London, EC4 Citadines Apart’hotel Barbican, London, EC1 Threadneedles Hotel, London, EC2 Club Quarters Gracechurch, London, EC3 Andaz Liverpool Street, London, EC2 Apex City of London Hotel, London, EC3 Travelodge London Liverpool Street Hotel, London, E1 Hotel Novotel London Tower Bridge, London, EC3 Grange City Hotel, London, EC3 The Chamberlain Hotel, London, EC3

Not to scale, for identification purposes only

24 25 26

Travelodge London Tower Bridge Hotel, London, E1 Hotel Ibis London City, London, E1 The Tower, London, E1

Proposed Hotels 27 28 29 30 31 32

Somerset House, London, WC2 Hotel Silken London, London, WC2 2-6 Southampton Row, London, WC1 Apex Temple Court Hotel, London, EC4 2 Puddle Dock, London, EC4 26 Old Bailey, London, EC4

33 34 35 36 37 38 39 40 41 42 43 44

Millennium Bridge, London, EC4 Queensbridge House, London, EC4 The Former Whitbread Brewery, London, EC1 BT Exchange, London, EC2 Apex London Wall Hotel, London, EC2 Staple Hall, London, EC3 50 Lower Thames Street, London, EC3 10 Trinity Square, London, EC3 City Inn Tower of London, London, EC3 Aldgate High Street, London, EC3 Middlesex Street / Goulston Street, London, E1 Jumeirah Hotel, London, SE1

21

27-35 PouLtry & 5 PrinCES StrEEt EC2

aLt E r n at i V E S C H E m E : off iC E / m i x E D u S E r E DE VELoPmEnt

The situation of the property at the very centre of the City of London means it will always be a highly sought after address for office users. The building provides two main access points, from Poultry and Princes Street, and an impressive entrance hall as the office reception.

This alternative scheme was drawn up by KSS architects. It envisages a mixed use part refurbishment and part redevelopment scheme, requiring a further planning consent but within the overall massing and sensitivity of the lapsed scheme. As well as gaining additional net area, the scheme provides a completely new lift core throughout the building and involves demolishing and redeveloping the 1960’s extension to the rear (as envisaged by the lapsed scheme). The specification includes new raised floors, suspended ceilings and four pipe fan coil air conditioning throughout.

Ground Floor

The majority of the net accommodation is open plan, particularly at the first to third floors, and could provide modern, well-serviced, flexible office space in a premier location. The fourth and fifth floors contain individual offices and meeting rooms. As envisaged in the lapsed scheme, the office use above ground could be enhanced with a retail element at ground level and a substantial wine bar below ground.

Floor

Use

Gross Int. Area

Net Internal Area

sq m

sq ft

sq m

sq ft

7th

Offices

978

10,527

596

6,415

6th

Offices

2,235

24,057

1,620

17,438

5th

Offices

2,629

28,298

1,709

18,396

4th

Offices

2,836

30,526

1,445

15,554

3rd

Offices

2,933

31,571

2,441

26,275

2nd

Offices

2,933

31,571

2,441

26,275

1st

Offices

2,963

31,893

2,471

26,598

Mezzanine

Offices

914

9,838

634

6,824

Ground

Offices/Retail/ Restaurant

3,229

34,757

2,521

27,136

Lower Ground

Safe Depository

3,058

32,916

1,091

11,743

Lower Ground

Wine Bar/ Restaurant

966

10,398

Basement 1

Wine Bar/Club

3,395

36,543

2,458

26,458

Basement 2

Storage

2,285

24,596

351

3,778

30,388

327,093

20,744

223,288

Total

Source: KSS Design Group NB - Net areas do not include corridor space; 407 sq m on 4th floor, 280 sq m on 5th floor and 66 sq m on 6th floor.

The impressive ground floor of the building provides over half an acre of stunning, double height, banking hall space, with marble floors and columns. With the success of other City retail schemes, such as The Royal Exchange, House of Fraser and Marks and Spencer, there is potential for ground floor piazza-style shopping, or alternatively, a selection of larger retail or restaurant units. The lapsed consent provided for A1, A2 or A3 use on the ground floor. Elements of the upper floors may also work well as restaurant or club uses.

Typical First – Third Floor

Fifth Floor

Cheapside and Poultry remain the prime location for retail in the City, and with further schemes in the pipeline, the critical mass of the area as a destination retail location is set to improve still further.

Not to scale, for identification purposes only

23

27-35 PouLtry & 5 PrinCES StrEEt EC2

Sale The property is offered for sale by Poultry Development Limited (in administration) acting by its joint administrators Malcolm Shierson and Jamie Toynton both of Grant Thornton.

Pr op o s a l Substantial offers are invited for the freehold and 999 year leasehold interests

Web si t e a nd Data r o om For further information, including a Data Room, please visit the website www.knightfrankhotels.net/poultry The Data Room contains the following :

Hippo - 020 8968 9292

Sales Particulars Plans Planning Documentation BuSurveys Building Survey Legal Survey M&E City of London Hotel Development Document Measured Survey Photographs and Computer Generated Images Phase 1 Environmental Review EPC Performance Certificate Energy Legal including Certificate of Title and Draft Contract City of London Hotel Development Document Photographs and Computer Generated Images

Con ta cts Knight Frank Hotels 55 Baker Street London W1U 8AN www.knightfrankhotels.com Dominic Mayes

+44 (0) 20 7861 1086

Important notice [email protected]

1.

Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Knight Frank LLP do not have any authority to make any representations about the property, and accordingly any

Knight Frank City Office 4 Coleman Street London EC2R 5BG

information given is entirely without responsibility on the part of the agent, seller(s) or lessor(s). Particulars dated July 2009. 2.

measurements and distances given are approximate only. Photographs dated 2006 to 2009. 3.

Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, listed building, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that

www.knightfrank.com Stephen Clifton Nick Braybrook

Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas,

these matters have been properly dealt with and that all information is correct.

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[email protected] [email protected]

4. VAT: The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered office is 55 Baker Street, London W1U 8AN, where you may look at a list of members' names.

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