S P I T A L F I E L D S E 1

I N V E S T M E N T F O R S A L E

RARE C ITY-FR INGE INVESTMENT OPPORTUNITY

The investment comprises a Grade II listed five story building with an additional

mezzanine floor located centrally within Spitalfields on the eastern side of

Commercial Street.

Stretching from Aldgate East to Shoreditch, Commercial Street has become the artery

which connects the financial district of the city to the tech hub of the

Silicon Roundabout.

The building is fully let to two strong covenants: National charity Crisis UK

occupy the ground floor and basement on a long lease expiring 2030.

Upper floors fully let to computer training college Makers Academy until 2020.

— 0 1 —

I N V ES T M E N T S U M M A RY

D E TA I L S

Freehold—

14,839.22 sq ft GIA (12,274 sq ft NIA) —

Retail Space 5,740.78 sq ft GIA (4,607 sq ft NIA)—

Office Space 9,098.44 sq ft GIA (7,667 sq ft NIA)—

Current net rent being produced is £520,257 pa—

Potential ERV is £647,478 pa—

Offers are invited in the region of £11,000,000 plus VAT reflecting a yield of 4.75%

SPITALFIELDS MARKET

LIVERPOOL STREET STATION

THE BROADGATE ESTATE

5 BROADGATE UBS HQ

SHOREDITCH HIGH STREET STATION

THE STAGE

TOWER OF LONDON

ALDGATE EAST STATION

ALDGATE STATION

TRUMAN BREWERY

BRICK LANE

PRINCIPAL PLACE AMAZON UK HQ

FRUIT & WOOL EXCHANGE

ALLEN & OVERY LLP

RBS

ST PAUL’S CATHEDRAL

30 ST MARY AXETHE GHERKIN

Commercial Street, which for all intents and purposes should be named Spitalfields High Street,

has become home to some of the best eating, drinking and shopping establishments in

the capital.

This is largely due to the Spitalfields regeneration programme which was completed in 2005. The

regeneration of Spitalfields Market and the creation of two new public spaces, Bishops Square

and Crispin Place have been the catalyst for the recent and continuing transformation of the area in to a major hub for the creative, tech, fashion

and art industries.

Some of the world famous brands that occupy the area include: All Saints;

Belstaff; Hackett, LuluLemon; Chanel and Jigsaw. These international brands

are complimented by high quality independent occupiers such as Grenson,

Albam Clothing, Bethnals, Joshua Kane Bespoke and K-Way.

With Brick Lane and Shoreditch on one side and the City on the other,

Commercial Street is the ever bubbling melting pot where both worlds meet.

— 0 2 —

L O CAT I O N

SPITALFIELDS MARKET

Highly sought after for both its commercial and residential value, Shoreditch & Spitalfields provides a hub for a number of international businesses and a playground for those who live and work in the area.

Boasting an eclectic mix of tenants, tech giants Amazon and Uber sit

alongside RBS and Bloomberg, UBS and Bacardi. Boxpark Shoreditch mall houses a range of independent shops and restaurants while the likes

of Nobu and Shoreditch House are just a stone’s throw away.

High-profile developments in immediate proximity coupled with exciting new housing and mixed-use developments only promise to further

boost the area’s market value.

WENTWORTH STREET

COM

MERCIAL ST

ALDGATE

10

10

11

12

7

8

9

4

2

1

5

3

6

11

12

5

98

1

1

1

8

10

46

512

11

2

3

7

9

2

2

1

12

10

11

9

6

4

38

7

5

6

3

7

SHOREDITCHHIGH ST

BOXPARK

TRUMANBREWERY

SPITALFIELDSMARKET

LIVERPOOL ST

ALDGATE

EAST

BROADGATECIRCLE

WHITECHAPEL HIGH ST.

WENTWORTH STREET

CO

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CIA

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LAMB ST

BRUSHFIELD ST

FASHION ST

MID

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X ST

DEVONSHIRE SQUARE

HOUNDSDITCHBEVIS MARKS

ARTILLERY LANE

BIS

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H H

IGH

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AP

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GA

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OLD

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LONDON WALL

WORSHIP ST

PRIMROSE ST

SUN ST

QUAKER ST BUXTON ST

CHESHIRE STBETHNAL GREEN ROAD

SCRUTTON ST

HANBURY ST

GREAT EASTERN ST

N E A R BY P RO F ES S I O N A L —

1. Bacardi

2. Allen & Overy

3. RBB Economics

4. Salesforce

5. Ashurst (2018)

6. Clyde & Co

7. Pinsent Masons

8. Herbert Smith Freehills

9. Squire Patton Boggs

10. McDermott Will & Emery

11. Northumbria University

12. Coventry University

N E A R BY D E V E L O P M E N T S —

1. London Fruit Wool Exchange

2. 100 Bishopsgate

3. One Crown Place

4. Art’otel, Great Eastern Street

5. 22 Bishopsgate

6. 13-14 Appold Street

7. Blossom Street

8. The Stage

9. Shoreditch Village

10. The Goodsyard

11. Principal Place

12. 100 Liverpool Street

I N S U R A N C E & F I N A N C I A L —

1. RBS

2. UBS

3. Deutsche Bank

4. Swiss RE

5. CMC Markets

6. Allied Irish Bank

7. Tullet Prebon

8. Westpac Group

9. Bloomberg

10. Trireme Insurance

11. Royal Bank of Canada (2018)

12. IHS Global

M E D I A & T EC H N O L O GY —

1. WeWork

2. Second Home

3. Amazon

4. Runway East

5. Mother

6. Factset

7. SapientNitro

8. Williams Lea Tag

9. Uber

10. Smart Focus

11. Currencycloud

12. Google Campus

— 0 3 —

L O CA L O C C U P I E R S

50-52 Commercial Street is surrounded by an enormity of transport links in this extremely

well-connected city-fringe location.

Aldgate East, which is situated at the junction of

Commercial Street and Whitechapel High Street,

is the closest underground station with access to both

the Hammersmith and City and District lines.

A close second to the proximity of Aldgate East is

London Liverpool Street Station, the third busiest train

station in Great Britain. This central overground train

terminus also provides access to four underground lines:

Central — Circle — Hammersmith & City — Metropolitan

Equally, Shoreditch High Street overground

station is located only a ten minute walk away

from the building.

Further to the fantastic connections also provided by

the local bus routes, the area is soon to benefit from

the introduction of Crossrail’s new Elizabeth Line at

Liverpool Street Station. The new Elizabeth line is set to

be completed August 2019 and will connect Reading

and Heathrow in the west through central tunnels across

to Shenfield and Abbey Road in the east. The line will

stop at 41 accessible stations and is expected to serve

200 million people a year.

— 0 4 —

C O M M U N I CAT I O N

T R A N S P O R T L I N K S

A L D G AT E E A S TA L D G AT E

E M B A N K M E N T M O N U M E N T T OW E R H I L L

B A K E R S T R E E T

B O N D S T R E E T

N O T T I N G H I L L G AT E

W H I T E C I T Y

OX F O R D C I RC U S

T O T T E N H A M C O U R T R D H O L B O R N B A N K

K I N G S C RO S S S T. PA N C R A S

L I V E R P O O L S T R E E TFA R R I N G D O N

V I C T O R I AH A M M E R S M I T H

PA D D I N G T O N

3 mins

2 mins4 mins13 mins17 mins32 mins

32 mins 18 mins

18 mins18 mins18 mins 18 mins 18 mins 18 mins 18 mins

12 mins 12 mins 3 mins

4 mins

K E Y D E V E L O P M E N T S— 0 5 —

The London Fruit and Wool Exchange is

one of the largest developments in London

and will deliver 320,000 sq ft of new grade

A space including 260,000 sq ft of office

and 40,000 sq ft of retail, restaurant, café,

SME and community space.

The office element is fully pre-let to silver

circle legal firm Ashurst, and the building

has been developed in partnership with

M&G. The clothing brand Uniqlo have

pre-let a significant amount of retail

space on the ground floor.

A joint venture between Hammerson

and Ballymore Properties.

The Goodsyard is the name of the

former Bishopsgate Goods Yard site

around Shoreditch High Street Station.

It is approximately 4.4ha in size which is

the same as about 7 football pitches.

The current planning application is for:

180 residential units —

13,000 sqm of commercial space —

15,000 sqm of retail space + hotel —

And a new public park

Principal Place is a new destination on

Worship Street in the heart of Spitalfields,

developed by Brookfield and designed by

Foster and Partners.

The 600,000 sq ft, 15 storey office building

with nearly an acre of roof terraces has

been the new home of Amazon since 2017.

Principal Place also features 20,000 sq

ft of restaurants, shops, a boutique gym

and a vibrant half-acre public piazza which

is activated by year round arts and events

programs. This mixed use development

will also include a 50 storey residential

building. All due for completion 2019.

F R U I T & WO O L E XC H A N G E

T H E B I S H O P S G AT E G O O D S YA R D

P R I N C I PA L P L AC E

N E A R BY D E V E L O P M E N T S— 0 6 —

Developer BrookfieldUse OfficeSize 878,693 sq ftCompletion Q4 2018Comments 118,000 sq ft to Jefferies Group and 218,500 sq ft to Royal Bank of Canada with option for further 50,000 sq ft.

Developer AXA Real Estate/Lipton RogersUse Office and retailSize 1,380,000 sq ftCompletion Q4 2019Comments Under construction

Developer Brockton CapitalUse Office and retailSize 96,000 sq ft (gross)Completion 2020 + (estimate)CommentsSubject to planning

Developer Exemplar/M&GUse Office & retailSize 320,000 sq ftCompletion Q1 2018Comments The office space is fully pre-let to Ashurst

Developer London Square Use Office, ResidentialSize 10,503 sq ft & 63 flatsCompletion Q2 2019Comments Under construction

Developer Hammerson & BallymoreUse Office, residential and retailSize 700,000 sq ftCompletion 2020 +Comments Subject to planning

Developer MTD Alloy MetalsUse Office, hotel, members cluband retailSize 166,840 sq ft & 246 C3 unitsCompletion 2020Comments Under construction

Developer British LandUse Office, residential and retailSize 347,000 sq ft & 46 C3 unitsCompletion 2020 / 2021 (estimate)CommentsPlanning consented

Developer Brookfield/ ENPAMUse Office, retail and residentialSize 634,000 sq ft & 301 C3 unitsCompletion Q3 2017Comments Offices 100% pre-let to Amazon

Developer Aspirations LtdUse Office and hotelSize 55,000 sq ft & 318 bed hotelCompletion 2021 + (estimate)CommentsHotel space to be occupied by Art’otel

Developer Plough Yard DevelopmentsUse Office, residential and leisureSize 220,000 sq ft & 412 C3 unitsCompletion Q2 2019CommentsOffice space fully pre-let to WeWork

Developer AXA Real Estate/Lipton RogersUse Office and retailSize 520,000 sq ftCompletion Q4 2019Comments Under construction

1 0 0 B I S H O P S G AT E — EC 2

2 2 B I S H O P S G AT E — EC 2

S H O R E D I T C H V I L L AG E P H A S E I I — E 1

L O N D O N F R U I T & WO O L E XC H A N G E — E 1

L O N D O N S Q UA R E S P I TA L F I E L D S — E 1

T H E G O O D S YA R D — E 1

O N E C ROW N P L AC E — EC 2

B L O S S O M S T R E E T — E 1

P R I N C I PA L P L AC E — EC 2

8 4 - 8 6 G R E AT E A S T E R N S T R E E T & 1 - 3 R I V I N G T O N S T R E E T — E 1

T H E S TAG E — EC 2

1 0 0 L I V E R P O O L S T — EC 2

Founded in 1967, Crisis is one of the biggest and ever growing charities in the UK.

Being the UK national charity for single homeless people. The charity offers year-round education, employment, housing

and well-being services from centres in London, Newcastle, Oxford, Edinburgh and Merseyside, called Crisis Skylight Centres.

As well as year-round services Crisis runs Crisis at Christmas, which since 1972 has been offering food, warmth,

companionship and vital services to homeless people over the Christmas period.

In 2016 almost 4,600 homeless people visited Crisis at Christmas, which was run by approximately

10,500 volunteers.

Makers Academy is a 12-week computer programming bootcamp in London.

It was founded by Rob Johnson and Evgeny Shadchnev in December 2012 and is designed to turn people with

no knowledge of web development into job-ready junior developers in 12 weeks.

The Firm are so confident in their teaching methods that each student is guaranteed a full refund if they fail to get a

job in industry after graduating.

Initially taking only second and third floors with mezzanine – after just one year Makers Academy expanded and

acquired the additional space on the first floor.

— 1 S T , 2 N D , 3 R D & M E Z Z A N I N E F L O O R S

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— G & B F L O O R S

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FLOOR TENANT USE CLASS AREA SQ FT CURRENT RENT

LEASE START DATE

LEASE EXPIRY DATE

RENT REVIEW

BREAK CLAUSE

ESTIMATED RENTAL VALUE

BASEMENT &

GROUND FLOOR

CRISIS UK B1/A1/A2

2,458—

2,149£165,000 01/07/2015 01/07/2030

EVERY 5THYEAR FROM

LEASE START DATE

MUTUAL ON22/08/2022 £225,743

FIRST FLOOR B1 2,236 £100,000 16/11/2015 18/11/2020 NONE NONE £122,980

SECOND FLOOR

MAKERS ACADEMY B1 2,193

£255,257 01/12/2014 16/11/2020 NONE NONE

£120,615

THIRD FLOOR &

MEZZANINEB1 3,238 £178,090

TOTALS NET AREA: GROSS AREA:

12,274 14,839

£520,257 + VAT

£647,478 + VAT

T E N A N CY S C H E D U L E— 0 7 —

F L O O R P L A N S— 0 8 —

G R O U N D F L O O RB A S E M E N T 1 S T F L O O R

3 R D F L O O R2 N D F L O O R M E Z Z A N I N E

G RO S S A R E A : 1 4 , 8 3 9 F T

Freehold

T E N U R E

—

E P C

— The property has a

D (81) rating

Offers are invited in the regionof £11,000,000 plus VAT.

A purchase at this level reflectsa net initial yield of 4.75%, and a

low capital value on the NIA of £896 per sq ft.

P RO P O S A L

—

JEREMY TARN

Jeremy@tarn-tarn.co.uk0207 456 9695

ARTHUR NOWICKI

Arthur@tarn-tarn.co.uk0207 456 9693

OFFICE: 020 7377 8989

Designed by www.darwooddesign.com

These particulars do not constitute an offer or a contract. Applicants should satisfy themselves as to the correctness of the details. Value added tax may be payable on rents, prices or premiums.

Photographs are for illustration only and may depict items which are not included in the sale of the property. Map data ©2018 Google Maps.