UNITS 3 & 4NORTHPOINT BUSINESS CENTRE, HORTON ROADWEST DRAYTON, GREATER LONDON UB7 8JL

Industrial Investment

Investment Summaryn Excellent location to the west of central

London, close to Heathrow Airport

n Two modern warehouse units comprising approximately 41,670 sq ft

n Let on 2 leases to Solaglas Ltd (now Glassolutions Saint-Gobain Ltd) with Guarantee from multinational Saint Gobain Group providing a very strong covenant

n Unexpired term of essentially 13 years 6 months

n Passing rent £443,531 pax, equates to £10.63 per sq ft

n Offers of £5,986,000 reflecting a net initial yield of 7%

M25

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A408A3044

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West Drayton Rail

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THORNEY MILL ROAD

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HEATHROW AIRPORT

Produced 15 Feb 2013 from the Ordnance Survey National Geographic Database and incorporating surveyed revision available at this date. Reproduction in whole or part is prohibited without the prior permissionof Ordnance Survey. © Crown Copyright 2013.

Ordnance Survey and the OS Symbol are registered trademarksof Ordnance Survey, the national mapping agency of Great Britain.

The representation of a road, track or path is no evidence of a right of way. The representation of features as lines is no evidence of a property boundary.

Meters

1:500

Supplied by: StanfordsReference: OI536335Centre coordinates: 506507 180177

Version 1.0 14012:14042MS PDF

LocationWest Drayton is strategically located to the west of Central London, in the London Borough of Hillingdon, and benefits from excellent road, rail and air communications being less than 1 mile from junction 4 of the M4 motorway, with immediate access to the M25 and Heathrow Airport.

Central London is approximately 26.9 Kilometres (16.7 miles) east and Heathrow Airport is located approximately 4.5 kilometres (2.8 miles) to the south. The main industries within the London Borough of Hillingdon include transport, distribution, hi-tech, catering and corporate and professional organisations. Companies located in the area include Gillette, IBM, Apple Computers, GlaxoSmithKline, Coca Cola Enterprises, H.J Heinz and United Biscuits.

SituationNorth Point is situated on Horton Road, which connects to the A408 (Stockley Road) dual carriageway, providing direct access to Junction 4 of the M4 approximately 1.6km (1 mile) to the south east of the property. The M4, in turn, links directly to junction 15 of the M25 London Orbital Motorway. Stockley Park is 0.25 miles to the east occupying 150 acres with 25 buildings which accommodate 165,000 sq m of high quality offices.

This is an established industrial location with a number of estates including Crown Business Centre, Liddall Way and Horton Industrial Estates. Occupiers nearby include; Berry BMW Dealership, Screwfix, John Guest, DK Tools, Mechanical Air Supplies, and Team Air Express.

DescriptionNorth Point comprises two industrial warehouse units forming part of a terrace of four, originally developed in 2000. Both buildings consist of ground floor distribution warehouse and storage area with approximately 15% ancillary and office accommodation based over two floors located adjacent to the left and front elevations of the building.

The buildings are of steel portal frame construction with a clear eaves height of 7.2 metres (22.97 ft) and profile metal sheeting and colour composite metal panel walls to the warehouses and partial brick elevations to the offices. Each building is surmounted by a corrugated metal sheet roof with a suspended ceiling, acoustic tiles and sound insulation throughout. Loading facilities are provided to the front of the units, with two electric roller shutter doors serving each unit, being 5.5 metres (16.4 feet) high, and 4m 913.12 feet) wide. Both units benefit from 20 car parking spaces and yard areas used for storage.

Northpoint Business Centre

Horton Road

Redruth

Padstow

Wadebridge

TintagelLaunceston

Looe Paignton

Dartmouth

SalcombeKingsbridge

Douglas

Ramsey

Peel

Castletown

Macduff

Inverness

Aberdeen

Portlethen

DundeeBlairgowrie

PerthOban

Glencoe

KirkcaldyBuckhaven

Bo'ness

Glenrothes

Stirling

Forfar

DunblaneAlloa

Denny

Callander

Kilsyth

Livingston

Biggar

Aberfeldy

Cupar

DunfermlineCowdenbeath

Falkirk

HelensburghStenhousemuir

GreenockGlasgow

Motherwell

Dumbarton

Hamilton Peebles

KilmarnockBrodick

Wick

Portskerra

Skerray

Mallaig

Ardvasar

Kyle

Dunbar

HaddingtonEdinburgh

Invergarry

Invermoriston

Tobermory

Stonehaven

Peterhead

Ellon

Dyce

Inverurie

Mintlaw

Fraserburgh

Lossiemouth

Elgin

ForresNairn

Dornoch

Achnasheen

Invergordon

Inveran

Johno' Groats

Thurso

FortWilliam

Arbroath

Carnoustie

Lunan

Ipswich

Stowmarket

Halesworth

Sudbury

Bedford

Chelmsford

Braintree

Tiptree

Croydon Ramsgate

Broadstairs

Crawley

MaidstoneCanterbury

FolkestoneTunbridgeWells

Brighton

Newbury

Monmouth

GreatMalvern

Hay-on-Wye

LlandrindodWells

Basingstoke

SalisburyWinchester

Wareham

Poole

YeovilCrewkerne

Newport

Barnstaple

Trowbridge

ChippenhamWeston

Super-MareBath

Clevedon

ChippingSodbury

Stroud

Bristol

Gloucester

SkegnessIngoldmells

Boston

FakenhamAylsham

Holt

King's LynnWisbech

Norwich

GreatYarmouth

LongSutton

E. Dereham

KetteringHuntingdon

Corby

Ely

Dorchester

Weymouth

BridportExeter

Crediton

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NewtonAbbot

Truro

Hayle

Newquay

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Brecon

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Cwmbran Chepstow

Bridgend

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Barry

Swansea

CarmarthenHaverfordwest

Pembroke

Liverpool

Macclesfield

ChesterLincoln

Derby

Telford

WolverhamptonLeicester

Coventry

Aberystwyth Birmingham

Ledbury

Taunton

Merthyr

Felixstowe

Cromer

N. Walsham

AttleboroughLowestoftKessingland

Haverhill

Hemsby

Southampton

St. Austell

Bude

Penzance

Teignmouth

Bideford

Holsworthy

SouthMoltonGreat

Torrington

MilfordHaven

Fishguard

Cardigan

Hereford

Porthmadog

Caernarfon

Grimsby

Louth

Wragby

Dover

Deal

Sandwich

Margate

Colchester

Clacton-on-SeaFrinton-on-SeaWalton on the Naze

SouthwoldBungayThetford

Peterborough

Spalding

Chatteris

Stevenage

Aylesbury

Manchester

Stockport

RochdaleHuddersfield

Doncaster

Tavistock

Okehampton

Nottingham

Sheffield

Middlesbrough

BishopAuckland

Dumfries

Thornhill

GretnaDalbeattie Annan

Newcastle-upon-Tyne

Workington

Sunderland

Peterlee

Whitley Bay

Tynemouth

Hartlepool

Durham

Darlington

Lancaster

York

Harrogate

Leeds

Ripon

Preston

Bradford

Goole

NewGalloway

PenrithKeswick

ConistonRavenglassRichmond

AyrCumnock

New Cumnock

Moffat

Muirkirk

MayboleTurnberry

Scarborough

Pickering

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StranraerPortpatrick

Port LoganDrummore

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Whitby

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Ballantrae

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Sanquhar

BanffBuckie

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TurriffKeith

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Kinbrace

Altnaharra

Lochinver

Culkein

Balchrick

Ullapool

Gairloch BraemoreJunction

Durness

Lairg

Grantown-on-Spey

Rothes

Braemar

Laurencekirk

Drumnadrochit

Stornoway

Port of Ness

AviemoreKingussie

Newtonmore

Dalwhinnie

NeathLlanelli

St.Clears

LampeterTregaron

Tenby

Porthcawl

PontypriddPortTalbot

LlantwitMajor

Aberaeron

Aberdovey

Nefyn

Barmouth

Pwllheli Criccieth

Welshpool

Mablethorpe

Sutton-on-Sea

MarketRasen

Horncastle

Caistor

Coningsby

Kirkcudbright

Prestwick

Paisley

Kincardine

Melrose

Kelso

MorpethOtterburn

Prudhoe

Bodmin

Clovelly

Dunoon

Bridlington

Exmouth

Sidmouth

Honiton

Hunstanton

Montrose

Johnshaven

Helston

St. Ives

St Just FalmouthSt Mawes

Minehead

Burnham-on-Sea

Swanage

Petersfield

AldeburghWoodbridge

Leiston

Swaffham

Mildenhall

Brandon

Holbeach

WymondhamDownhamMarket

Diss

Beccles

Sheringham

Wells next the Sea

Beverley

Filey

Blyth

Belford

Amble

Kielder

Haltwhistle

Newbiggin-by-the-Sea

Coldstream

Eyemouth

North Berwick

St Andrews

BrechinPitlochry

Tongue

Banchory

Unapool

Irvine

LargsRothesay

Troon

Maryport

Allonby

WhitehavenSt Bees

Seascale

Whithorn

Glenluce

NewtonStewart

Lockerbie

Wigton

WetheralBrampton

Newport

IlfracombeLynton Lynmouth

NewtownKidderminster

Windermere

Cromarty

Lybster

Ulbster

Mybster

Brora

Westbury

Shaftesbury

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LymeRegis

Bridgwater

Totnes

WellsGlastonbury

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Retford

Blackburn

Bury

Chesterfield

Whitchurch

Bury StEdmunds

Oxford

Machrihanish

Islay

Tiree

Barra

Benbecula

Stornoway

Belfast

Penzance Heliport

Plymouth

Newquay

Ballasalla

Cork

Waterford

Kerry County

Shoreham

Norwich

Cambridge

Dundee

Aberdeen

Wick

Swansea

GloucesterCheltenham

Lyneham

Inverness

Londonderry

Coventry

Birmingham

Kent Intnl.

London-City

Southampton

Humberside

Woolsington

Durham Tees Valley Airport

Newcastle International Airport

Edinburgh

Prestwick

Cardiff

Bristol

Exeter

EastMidlands

B'mouth

Luton

Heathrow

Guildford

Cheltenham

Cambridge

Luton

Reading

MiltonKeynes

Northampton

Maidenhead

Yeovil

Bristol

Bournemouth

LondonWest

DraytonM4 M5

M4

A3

A37

A46

A303

A12

M20

M20 M2

A31

M6A565

A19

A170

A66

M62

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A1 (M)

M6

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M6TOLL

SiteThe site, has a total area of approximately 3.67 acres (1.486 hectares).

EnvironmentalPhase I and II Environmental reports undertaken by WSP Environmental Limited conclude that the site is low risk in their opinion.

EPCThe following Energy Performance Asset Ratings have been awarded:

Unit 1 D

Unit 2 C

Unit 3 & 4 D

AccommodationThe units have been measured by Plowman Craven and have the following approximate gross internal floor areas:

Tenure Freehold.

Units 1 and 2 were sold off in 2003 on 999 year leases to D.K Tools. The ground rent is fixed at £100 pa per unit.

PlanningNorth Point is zoned in the Local Plan for use within classes B1 light industry, B2 General Industry and B8 Storage or Distribution.

The property shall not allow any goods vehicles with a weight exceeding 7.5 tonnes to operate between the hours of 23.00 and 06.00 on weekdays and 23.00 and 09.00 on weekends and Bank Holidays.

All mechanical loading/uploading operations on the site between 23.00 and 06.00 will be conducted within the units.

TenancyThe property is let by way of two coterminous FRI leases for a term of 25 years from 29 Sept 2001 expiring 29 Sept 2026 both to Solaglas Ltd with guarantee from Saint-Gobain Ltd. The unexpired term is essentially 13 years 6 months.

Unit 3 is let at a current rent of £201,978 pax and Unit 4 is let at £241,353 pax. The combined rent is £443,531 pax (Equating to £10.63 psf). Rent reviews are 5 yearly on an upward only basis.

Unit Description Gross Internal Areas

Unit 3 Sq m Sq ft

First Offices 119.3 1,284

Ground Warehouse 1,653.5 17,798

1,772.8 19,082

Unit 4

First Offices 222.8 2,398

Ground Warehouse 1,875.7 20,190

2,098.5 22,588

Total 3,871.3 41,670

Further InformationFor further information please contact:

David Holt

Tel: +44 (0)20 7079 1818dh@why50.com

:

James Young

Tel: +44 (0)20 7079 1819jy@why50.com

© Produced By: Barbican Studio 020 7634 9573 I March 2013Subject to Contract: All plans and photographs are for identification purposes only and are not to be relied upon.

Cavendish House18 Cavendish Square

London W1G 0PJ

Tel: +44 (0)20 7629 5527 Fax: +44 (0)20 7935 4086

ProposalWe are seeking offers of £5,986,000 (Five million Nine Hundred and Eighty Six Thousand Pounds) for the freehold interest subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7% allowing for costs of acquisition at 5.8%.

CovenantSolaglas Ltd/ Glassolutions Saint Gobain LtdOn 31 October 2010 the trade and assets of Solaglas Ltd (co no 02967249) changed its name to Glassolutions Saint Gobain Limited (co no 02442570).

The principal activities are the manufacture, processing, distribution and installation of double glazed units and other glass products for the domestic housing, commercial building and architectural markets.

The company operates as part of Compayne de Saint-Gobain’s Flat Glass Division.

To the year end 31 December 2011 the company reported the latest financial information:

Saint-Gobain GroupSaint-Gobain Group has been established since 1665 and is among the top one hundred industrial groups worldwide. With strong international representation, the group has over 190,000 employees in forty-six countries employed in its chosen areas of activity: glass, insulation, building materials, ductile pipes, containers, fibre reinforcements, industrial ceramics, abrasives and specialised distribution.

The leases are guaranteed by Saint-Gobain PLC (now ltd). This is a holding company to all the U.K,Irish and South African companies within the Saint-Gobain group. This company has a substantial balance sheet reporting total assets of £2.5bn and total equity of £1.3bn for the financial year to December 2011. Accounts are available upon request.

2011£’000

2010 £’000

Turnover 116,257 93,278

Profit/(loss) before income tax

5,530 9,774

Total Assets 57,004 53,656 VATThe property is elected for VAT and it is proposed that the sale will be treated as a Transfer of a Going concern (TOGC).

Misrepresentation Act 1967: Whitmarsh Holt Young for themselves and for the vendor or lessor of this property for whom they act, give notice that: a. These particulars are a general outline only for the guidance of prospective purchasers or tenants and do not constitute the whole or any part of an offer or contract. b. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely upon them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them. c. No employee of Whitmarsh Holt Young has any authority to make or give any representation or warranty whatever in relation to this property or these particulars, nor enter into any contract on behalf of the vendors. d. No responsibility can be accepted for any expenses incurred by intending purchasers in inspecting properties which have been sold or withdrawn. e. Unless otherwise stated, all prices, rents and other charges are quoted exclusive of Value Added Tax (VAT). Any intending purchasers or tenants must satisfy themselves independently as to the incidence of VAT in respect of any transaction. f. All plant, machinery, equipment, services and fixtures and fittings referred to in these particulars were present at the date of publication. They have not however, been tested and therefore, we give absolutely no warranty as to their condition or operation. g. The date of this publication is March 2013