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JLL advises on 10.25m sale of serviced apartments and restaurant in the heart ofCity of London

Aviva Investors buy freehold of 19 serviced apartments and restaurant on India Street, EC3

LONDON, 18 August 2014 - JLLs Hotels & Hospitality group has advised on the sale of 19 boutique serviced

apartments at 8 India Street, EC3 with vacant possession and a ground floor restaurant investment on behalf of

owners Marldon, a specialist design and build partnership.

The sale reflects a price of approximately 500,000 per apartment, commensurate with residential values in thearea.

The apartments are located in the heart of the City of London, only a moments walk from major global financial

institutions such as the Bank of England, the London Stock Exchange and Lloyds of London. The flats have

been comprehensively refurbished and extended to provide a modern living space with contemporary high

quality fittings. The ground floor is occupied by a local restaurant operator and trades as the Rajasthan II.

8 India Street represents the fourth serviced apartment development by Marldon, who boast an impressive track

record of commercial and residential developments in central London, characterised by their design led

approach.

Will Duffey, Senior Vice President in JLLs Hotels & Hospitality group commented: This sale

demonstrates the considerable appetite for London serviced apartments from institutional investors. We expect

this trend to continue as the sector becomes more established as both a form of accommodation and an

investment asset class.

The sale of the asset was concluded before being officially launched to the market. A broad range of interested

parties, with particularly strong demand from serviced apartment operators looking to expand their presence in

the capital, approached JLL when we were appointed to sell the asset.

Research conducted by The Apartment Service Worldwide showed the London serviced apartment market to be

undersupplied with London having just 1.2 apartments per 1,000 business visitors compared to New York (5.2),

Hong Kong (5.3), Sydney (2.6) and Singapore (1.8).

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JLL advises on 10.25m sale of serviced apartments and restaurant in theheart of City of London

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Notes to Editors

Photograph of 8 India Street attached

Contact: Lauren Keith

Phone: +44 (0)207 852 4084

Email: lauren.keith@eu.jll.com

Contact: Will Duffey

Phone: +44 (0)207 087 5587

Email: lauren.keith@eu.jll.com

About JLL

JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seekingincreased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries

worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billionsquare feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business,LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.co.uk

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