SEVENTYSIX WARDOURSOHO / LONDON

THE OPPORTUNITY 2

SOHO – THE LOCATION 4

SOHO – THE CENTRAL VILLAGE 10

SOHO – NEIGHBOURS 12

EVOLVING SOHO 14

SOHO – COMMUNICATIONS & CROSSRAIL 16

THE BUILDING 18

THE BUILDING – OFFICE 22

THE BUILDING – RETAIL & RESTAURANTS 24

ACCOMMODATION & FLOORPLANS 26

SUMMARY SPECIFICATION 30

TENURE & TENANCY 32

COVENANTS 34

MARKET COMMENTARY 36

MORE INFORMATION 38

SEVENTYSIX WARDOURSOHO / LONDON

– HIGHLY VALUABLE A3 LATE LICENSE IN CENTRAL LONDON

– BREEAM RATING ‘VERY GOOD’

– FULLY LET TO A DIVERSE TENANT BASE PRODUCING A RENTAL INCOME OF £3,346,405 PER ANNUM (INCLUDING A VENDOR TOP UP OF THE FIXED UPLIFT ON SECOND FLOOR)

– 68% OF INCOME FROM OFFICE ACCOMMODATION, 32% FROM RESTAURANT AND RETAIL UNITS

– GRADE A OFFICE RENTS IN SOHO HAVE RECENTLY ACHIEVED £102.50 PSF COMPARED WITH THE AVERAGE PASSING RENT ACROSS THE OFFICE SPACE OF £69.59 PSF (BASED ON VENDOR TOP-UP)

– OPPORTUNITY TO REALISE A SIGNIFICANT INCREASE IN RENTAL INCOME ACROSS THE GROUND FLOOR A3 UNITS WITH CURRENT RENTS PASSING AT BETWEEN £90 - £100 PSF ON BEST SPACE. A3 RENTS IN SOHO ARE CURRENTLY IN EXCESS OF £150 PSF ON BEST SPACE

– RENT REVIEWS WELL TIMED TO CAPTURE FORECAST RENTAL GROWTH BETWEEN 2017-2019

– ALL OFFICE RENT REVIEWS IN 2019 COINCIDE NEATLY WITH THE DELIVERY OF CROSSRAIL

– WAULT OF 9.93 YEARS TO TERM CERTAIN

– OFFERS ARE INVITED FOR THE FREEHOLD INTEREST

– HIGHLY REVERSIONARY MIXED-USE MULTI-LET INVESTMENT OPPORTUNITY

– FREEHOLD

– PROMINENT CORNER BUILDING FRONTING WARDOUR STREET AND MEARD STREET IN THE HEART OF SOHO

– LESS THAN FIVE MINUTES WALK FROM THE NEW ELIZABETH LINE (CROSSRAIL) WESTERN TICKET HALL ON DEAN STREET

– SOHO HAS THE FINEST AMENITY PROVISION IN CENTRAL LONDON

– AREA SET TO FURTHER BENEFIT UPON THE DELIVERY OF THE WEST END PROJECT

– PROPERTY PROVIDES A TOTAL OF 51,136 SQ FT (4,750.6 SQ M) OF OFFICE, RETAIL AND RESTAURANT ACCOMMODATION LET TO FOUR OFFICE TENANTS AND THREE RETAIL / RESTAURANT TENANTS

– OFFICES COMPREHENSIVELY REFURBISHED IN 2013 TO GRADE A SPECIFICATION

– HIGH QUALITY OFFICE ACCOMMODATION TOTALLING 33,585 SQ FT (3,120.1 SQ M) OVER GROUND AND FIVE UPPER FLOORS WITH TERRACES AT EACH UPPER LEVEL

– ONE RETAIL UNIT OVER GROUND FLOOR AND TWO RESTAURANT UNITS OVER LOWER GROUND AND GROUND FLOORS TOTALLING 17,551 SQ FT (1,630.5 SQ M)

INVESTMENT HIGHLIGHTS

2

THE OPPORTUNITY

SOHO – THE LOCATION

CÔTE BRASSERIE, WARDOUR STREET

WARDOUR STREET, THE HEART OF THE WEST END AND ONE OF CENTRAL LONDON’S PREMIER ADDRESSES

1. BLACKS PRIVATE MEMBERS CLUB, DEAN STREET2. L’ESCARGOT, GREEK STREET3. FERNANDEZ & WELLS, BEAK STREET4. CARNABY STREET5. ALBAM, BEAK STREET6. RAPHA, BREWER STREET7. PAUL SMITH, BEAK STREET

Wardour Street is located in the heart of Soho, one of London’s premier business and entertainment addresses, characterised by its high quality office, retail and leisure provisions.

Soho has traditionally been the epicentre of London’s media industry, attracting major occupiers such as M&C Saatchi, Bartle Bogle Hegarty, Twentieth Century Fox, NBC Universal, Twitter, Warner Music, Spotify and Snapchat.

The creative industries are fast growing and increasingly corporate and finance occupiers are seeking a presence in Soho as an alternative base to St James’s and Mayfair, attracted by the array of amenities and highly appealing working environment for a younger more dynamic workforce.

Corporate and financial occupiers include Diageo, Och-Ziff, Telefonica, Carval Investors, Sony Computer Entertainment and Zebedee Capital.

1. KINGLY COURT2. WOOLRICH, BREWER STREET3. LIBERTY, GREAT MARLBOROUGH STREET4. SOHO SQUARE5. PRINCI, WARDOUR STREET

1

1 2

4

7

5 6

3

2

3

4 5

SOHO – THE LOCATION SEVENTYSIX WARDOUR

6 7

1. SOHO HOTEL, FLAXMAN COURT2. OLIVER SPENCER, BERWICK/LIVONIA STREET3. THE GROUCHO CLUB, DEAN STREET4. WAHACA, WARDOUR STREET5. COPITA, D’ARBLAY STREET6. GOLDEN SQUARE7. MEARD STREET8. SOHO HOUSE, DEAN STREET

1. NUDIE JEANS, D’ARBLAY STREET2. BREWER STREET RETAIL3. THE HOUSE OF ST BARNABAS, GREEK STREET4. APC, LEXINGTON STREET5. HAM YARD HOTEL6. THE UNION CLUB, GREEK STREET

1 1

2

3

4

5

6

5

6 7

8

2

3

4

SOHO – THE LOCATION SEVENTYSIX WARDOUR

8 9

OXFORD STREET

SHAFTESBURY AVENUE

REGENT STREET

MAYFAIR

ST JAMES’S

SEVENTYSIX WARDOUR

OXFORDCIRCUS

SOHO SQUARE

WARDOUR STREET

FITZROVIA

CHAR

ING

CROS

S RO

AD

COVENT GARDENLEICESTER

SQUARE

BLOOMSBURY

WESTERN TICKET HALLSituated at the junction between Dean Street and Oxford Street to provide a direct gateway into Soho from Tottenham Court Road underground station.

TOTTENHAM COURT ROAD STATIONTottenham Court Road station is undergoing a major transformation ahead of the arrival of the Elizabeth Line (Crossrail) in 2018 which will make it one of London’s busiest transport hubs.

EASTERN TICKET HALLSituated at the crossroad between Oxford Street, New Oxford Street, Tottenham Court Road and Charing Cross Road, the eastern ticket hall will be six times larger than its original size. Bright glazed entrances together with station lighting reinforce the station’s prominence alongside Centre Point and the new public plaza.

TOTTENHAMCOURT RD

SOHO – THE CENTRAL VILLAGE SEVENTYSIX WARDOUR

11

OXFORD STREET

REGENT STREET

GOLDEN SQUARE

BERWICK STREET

POLAND STREET

GREAT MARLBOROUGH STREET

HOLLEN STREET

CARNABY STREET

KINGLY STREET

WARW

ICK STREET

UPPER JOHN STREET

LOWER JOHN STREET

LOWER JAM

ES STREET

UPPER JAMES STREET

BEAK STREET

BROADWICK STREET

PETER STREET

MARSHALL STREET

BRIDLE LANE

LEXINGTON STREET

BREWER STREET

HOPKINS STREET

INGESTRE PLACE

RUPERT STREET

D’ARBLAY STREET

NOEL STREET

ARCHER STREET

DUCK LANE

WARDOUR M

EWS

RICHMON

D MEW

S

SHERATON STREET

MEARD STREET

RAMILLIES PLACE RAM

ILLIES STREET

ARGYLL STREET

FOUBERT’S PLACE

GANTON STREET

GREAT WINDM

ILL

HILLS PLA

CE

GREAT PULTENEY STREET

STREET

CARLISLE STREET

SOHO

WARDOUR STREET

11

17

23

5

4

12

16

2

25

17

7

19

2

18

12

17

7

11

24

9

15

20

3

8

1

2

9

14

30

29

19

18

23

17

17

15

47

163

138

1

14

26

4 2024

10

7

3

6

21

1

5

22

11

1527

SEVENTYSIX WARDOUR

6

8

9

19

SOHO – NEIGHBOURS

DEA

N STREET

SOHO STREET

15

13

4

5

6

13

LOCAL OCCUPIERS

1 BANK OF EAST ASIA2 BETGENIUS3 CINESITE4 TWITTER5 GENERATION INVESTMENT MANAGEMENT6 GHD7 ZEBEDEE CAPITAL8 HKS ARCHITECTS9 INGENIOUS MEDIA

10 KAO BRANDS11 M&C SAATCHI12 NATIONAL MAGAZINE COMPANY13 NIKE14 PALANTIR TECHNOLOGIES15 SALAMANDER ENERGY16 SONY17 SPOTIFY18 TAG WORLDWIDE19 TECHNICOLOUR CREATIVE SERVICES20 TELEFÓNICA21 WASSERMAN MEDIA GROUP22 20TH CENTURY FOX23 OCH-ZIFF24 BARTLE BOGLE HEGARTY

RESTAURANTS & BARS

1 ANDREW EDMUNDS 2 ARBUTUS3 COPITA 4 DUCK AND RICE5 BARRAFINA6 LA BODEGA NEGRA7 BOB BOB RICARD8 BOCCA DI LUPO9 BONE DADDIES 10 BURGER & LOBSTER 11 JACKSON & RYE 12 CEVICHE 13 THE FRENCH HOUSE 14 MILK AND HONEY 15 DEAN STREET TOWNHOUSE 16 DUCKSOUP 17 FERNANDEZ & WELLS 18 GAUTHIER SOHO19 HIX20 HONEST BURGER21 L’ESCARGOT22 BLIND PIG23 NOPI24 YAUATCHA25 TAPAS BRINDISI26 POLPETTO27 PRINCI28 QUO VADIS29 RANDALL & AUBIN30 SOCIAL EATING HOUSE

RETAIL

1 NUDIE JEANS2 HUGO BOSS3 CAMISA & SON4 RAPHA5 DIESEL6 OLIVER SPENCER7 WOOLRICH8 WOLSEY9 A.P.C.

10 JOHN PEARSE11 LIBERTY12 LINA STORES13 MILROYS OF SOHO14 PAUL A YOUNG FINE CHOCOLATES15 ALBAM16 SIR TOM BAKER17 SPACE NK18 WHOLE FOODS19 PAUL SMITH

PRIVATE MEMBERS CLUBS

1 THE GROUCHO CLUB2 SOHO HOUSE3 BLACKS4 THE UNION CLUB5 CENTURY CLUB6 THE HOUSE OF ST BARNABAS

HOTELS

1 HAM YARD HOTEL2 SOHO HOTEL

SOHO SQUARE

LEICESTER SQUARE

CHA

RING

CROSS RO

AD

SHAFTESBURY AVENUE

OLD COMPTON STREET

BATEMAN STREET

FRITH STREET

GREEK STREET

ROMILLY STREET

MOOR STREET

MANETTE STREET

215

6

28

12

1826

16

2

1

13

22

10

10

14

2

SEVENTYSIX WARDOUR

13

EVOLVING SOHO

PICCADILLYCIRCUS

OXFORDCIRCUS

EASTERN TICKET HALL

(2018)

WESTERN TICKET HALL

(2018)

1

4

5

9

68

SEVENTYSIX WARDOUR

SOHO

FITZROVIA

ST JAMES’S

MAYFAIR

LEICESTER SQUARE

TOTTENHAMCOURT RD

2 37

ONE RATHBONE PLACE, W1Developer: Great Portland EstatesUse: Offices / Retail / ResidentialArea: 412,000 sq ftTenant: 227,000 sq ft pre-let to Facebook on a 20 year leaseCompletion: 2017

SOHO WORKS, 54 GREAT MARLBOROUGH STREET, W1Developer: Amazon PropertiesUse: Offices / Retail / Residential / HotelArea: 80,500 sq ftCompletion: 2017

MAJOR NEW WEST END DEVELOPMENTS

1 OXFORD STREET, W1Developer: Derwent / CrossrailUse: Office / RetailArea: 241,000 sq ftCompletion: 2020

NIMAX, CHARING CROSS ROAD, W1Developer: DerwentUse: Office / Retail / TheatreArea: 86,000 sq ft commercial space and a new 350 seat theatreCompletion: 2019

ST GILES CIRCUS, W1Developer: Consolidated DevelopmentsUse: Retail / Hotel / Leisure / ResidentialArea: 103,500 sq ft (commercial element)Completion: 2020

ORIANA, 18-24 OXFORD STREET, W1 – PHASE 2Developer: Land Securities / FrogmoreUse: Retail / ResidentialArea: 76,500 sq ft (commercial element)Completion: 2020

CENTRE POINT, WC1Developer: AlmacantarUse: Luxury Residential / RetailArea: 292,500 sq ftCompletion: 2017

ST LAWRENCE HOUSE, 26-30 BROADWICK STREET, W1Developer: Great Portland EstatesUse: Offices / Retail / ResidentialArea: 84,000 sq ftCompletion: 2016

10 MINUTE WALK TIME

BLOOMSBURY

COVENT GARDEN

73-93 OXFORD STREET AND 1 DEAN STREET, W1Developer: Great Portland EstatesUse: Office / RetailArea: 91,000 sq ftCompletion: 2017

1 2 3

87

654

9

SEVENTYSIX WARDOUR

15

Soho benefits from excellent transport connectivity both within central London and further afield. Nearby London Underground stations include Tottenham Court Road (Central and Northern lines), Oxford Circus (Central, Victoria and Bakerloo lines), Leicester Square (Northern and Piccadilly lines), Covent Garden (Piccadilly line) and Charing Cross (Bakerloo and Northern lines and National Rail services) which are all within 10 minutes walk of the subject property.

The area is also served by numerous bus routes that run along Oxford Street to the north, Regent Street to the west and Shaftesbury Avenue to the south.

CROSSRAIL

Tottenham Court Road London Underground station, just five minutes walk from the property, will benefit from the arrival of the Elizabeth line (Crossrail) in 2018 and is currently undergoing a £1 billion transformation.

Crossrail is Europe’s largest infrastructure project and is set to provide a new high frequency, high capacity railway servicing 40 stations to improve the east/west link for London and the South East. As a result Crossrail will increase rail capacity in London by 20% with an estimated 200 million passengers using the new Elizabeth line each year. During peak travel times, 24 trains are scheduled to run each hour, making central London even more accessible.

Tottenham Court Road is set to become the dominant transport hub in the West End, overtaking Oxford Circus. Passenger numbers passing through the station are forecast to rise from the current 150,000 per day to over 200,000 per day. Longer term, the station is also set to become the only interchange between Crossrail 1 and Crossrail 2, the second phase of the network, due for completion in 2030.

This will continue to establish the area’s importance as a top West End destination.

A PRIME OFFICE, RETAIL AND LEISURE DESTINATION WITH UNRIVALLED CONNECTIVITY TO CENTRAL LONDON AND THE SOUTH EAST

SHENFIELD

BRENTWOOD

HAROLD WOOD

GIDEA PARKROMFORD

CHADWELL HEATH

GOODMAYES

SEVEN KINGS

ILFORD

MANOR PARK

FOREST GATE

MARYLAND

STRATFORD

CANARY WHARF

WHITECHAPEL Hammersmith & City

District Overground

LIVERPOOL STREET Northern Central Circle

Hammersmith & City Metropolitan

FARRINGDON Circle

Hammersmith & City Metropolitan

TOTTENHAM COURT ROAD

Northern Central

PADDINGTON Circle

Hammersmith & City

Bakerloo

BOND STREET Central Jubilee

CUSTOM HOUSE (FOR EXCEL)

WOOLWICH

ABBEY WOOD

IVER

LANGLEY

SLOUGH

WEST DRAYTON

HAYES & HARLINGTON

SOUTHALL

HANWELL

WEST EALING

EALING BROADWAY

ACTON

BURNHAM

TAPLOW

MAIDENHEAD

TWYFORD

READING HEATHROW TERMINAL 4

HEATHROW TERMINALS 2 & 3

SEVENTYSIX WARDOUR

SOHO – COMMUNICATIONS & CROSSRAIL

16CROSSRAIL EASTERN TICKET HALL

THE BUILDING

WARDOUR STREET ENTRANCE

The property was originally constructed between 1906-1908 and comprises a prominent mixed-use corner building fronting Wardour Street and Meard Street, arranged over lower ground, ground and five upper floors.

First to fifth floors comprise 33,585 sq ft (3,120.1 sq m) of comprehensively refurbished Grade A office accommodation accessed via a ground floor reception located at the corner of Wardour Street and Meard Street. The office accommodation, substantially refurbished in 2013, provides open plan regular floorplates with excellent natural light from three sides.

Each of the upper floors has the benefit of a terrace to the east elevation.The lower ground and ground floors provide 17,551 sq ft (1,630.5 sq m) of retail and restaurant accommodation known as 80-82, 84 and 88 Wardour Street. All three units have frontages to Wardour Street with 80-82 Wardour Street benefiting from a return frontage on to the pedestrianised section of Meard Street.

A PROMINENT CORNER BUILDING ON ONE OF SOHO’S PREMIER STREETS

THE BUILDING

AREA SQ M (NIA)

495.8

595.7

657.7

653.8

645.2

71.9

3,120.1

323.9

388.2

373.6

478.2

66.6

1,630.5

4,750.6

AREA SQ FT (NIA)

5,337

6,412

7,080

7,037

6,945

774

33,585

3,486

4,179

4,022

5,147

717

17,551

51,136

FLOOR

FLOOR 5

FLOOR 4

FLOOR 3

FLOOR 2

FLOOR 1

GROUND FLOOR

OFFICE SUB TOTAL

80-82 WARDOUR

84 WARDOUR

88 WARDOUR

RETAIL / RESTAURANT SUB TOTAL

TOTAL

THE ACCOMODATION

USE

OFFICE

OFFICE

OFFICE

OFFICE

OFFICE

RECEPTION

RETAIL / RESTAURANT

RETAIL / RESTAURANT

RETAIL / RESTAURANT

GROUND

LOWER GROUND

GROUND

LOWER GROUND

GROUND

20

SEVENTYSIX WARDOUR

THOUGHTWORKS BREAK OUT AREA, FIRST FLOOR

THE BUILDING – OFFICE

22

SEVENTYSIX WARDOUR

23

THE BUILDING – RETAIL & RESTAURANTS

24

SEVENTYSIX WARDOUR

25

OFFICE RECEPTION TERRACES RETAIL / RESTAURANTS

ACCOMMODATION & FLOORPLANS

26

GROUND FLOOR

RECEPTION 774 SQ FT / 71.9 SQ MRETAIL / RESTAURANT 8,225 SQ FT / 764.1 SQ M

LOWER GROUND FLOOR

RETAIL / RESTAURANT 9,326 SQ FT / 866.4 SQ M

SEVENTYSIX WARDOUR

27

HUMMUS BROS

RESTAURANT

VAPIANO RESTAURANT

VAPIANO RESTAURANT

WAHACA RESTAURANT

WAHACA RESTAURANT

TRANSFORMERCHAMBER

OFFICE RECEPTION

EXCEPTIONAL FLOORPLATES – LARGE, FLEXIBLE FLOORS APPEALING TO A WIDE RANGE OF OCCUPIERS ACROSS MULTIPLE SECTORS.

3

2

SECOND FLOOR

OFFICE 7,037 SQ FT / 653.8 SQ M

THIRD FLOOR

OFFICE 7,080 SQ FT / 657.7 SQ M

ACCOMMODATION & FLOORPLANS

28

5

4

FIFTH FLOOR

OFFICE 5,337 SQ FT / 495.8 SQ M

FOURTH FLOOR

OFFICE 6,412 SQ FT / 595.7 SQ M

SEVENTYSIX WARDOUR

29

THE OFFICE ACCOMMODATION WITHIN THE BUILDING WAS COMPREHENSIVELY REFURBISHED IN 2013 TO A GRADE A SPECIFICATION TO INCLUDE:

– BREEAM RATING ‘VERY GOOD’

– NEW CONTEMPORARY RECEPTION AREA

– TWO NEW 10 PERSON PASSENGER LIFTS

– NEW M&E SYSTEM INCLUDING AET UNDERFLOOR A/C

– NEW FULLY ACCESSIBLE RAISED FLOORS OF 220MM

– REFURBISHED FAÇADE AND MANSARD

– FLOOR TO CEILING HEIGHTS OF 2.57 – 2.6 METRES

– LG7 COMPLIANT LIGHTING THROUGHOUT

– REPLACEMENT WINDOWS AT ALL LEVELS

– FOUR NEW UNISEX WC’S AND ONE NEW DDA COMPLIANT WC / SHOWER ROOM ON EACH FLOOR

– NEW TERRACES AND BALCONIES AT ALL LEVELS

1. WC SUPERLOO’S ALL FLOORS2. PASSENGER LIFTS3. RECEPTION FEATURE GLASS WALLS4. REBECCA GOULDSON FACIA ART

SUMMARY SPECIFICATION

1

2

3 4

30THOUGHTWORKS, FIRST FLOOR

TENURE – FREEHOLD

FLOOR DEMISE

FLOOR 5

FLOOR 4

FLOOR 3

FLOOR 2

FLOOR 1

GROUND FLOOR

80-82 WARDOUR

84 WARDOUR

88 WARDOUR

TOTAL

AREA(SQ FT)

5,337

6,412

7,080

7,037

6,945

774

3,486

4,179

4,022

5,147

717

51,136

TERM START

06/01/2014

06/01/2014

22/12/2014

19/09/2014

11/07/2014

14/04/1997

20/01/2014

15/01/2003

TERM EXPIRY

05/01/2024

05/01/2024

21/12/2029

18/09/2024

10/07/2024

13/04/2027

19/01/2029

14/01/2023

TENANCY

TENANT

SHERIDANS

SHERIDANS

WAGAMAMA LTD

ANGELA MORTIMER PLC

THOUGHTWORKS LTD

OAXACA LTD (TRADING AS WAHACA)

VAPIANO LTD

HUMMUS BROS LTD

USE

0FFICE

OFFICE

OFFICE

OFFICE

OFFICE

RECEPTION

RETAIL / RESTAURANT

RETAIL / RESTAURANT

RETAIL / RESTAURANT

GROUND FLOOR

LOWER GROUND

GROUND FLOOR

LOWER GROUND

GROUND FLOOR

(1) Transformer Chamber lease for 99 years from 08/12/1977 at a rent £0.05 per annum (if demanded).

TENURE & TENANCY

32

NEXT REVIEW

06/01/2019

06/01/2019

22/12/2019

19/09/2019

11/07/2019

14/04/2017

20/01/2019

15/01/2018

CURRENTPASSING RENT

(£PA)

£400,275

£471,282

£520,380

£457,405

£434,063

£393,000

£600,000

£70,000

£3,346,405

CURRENTPASSING RENT

(£PSF)

£75.00

£73.50

£73.50

£65.00

£62.50

£51.27

£65.44

£97.63

COMMENTS

Lease outside the 1954 Act.

Lease outside the 1954 Act.

Lease inside the 1954 Act.

Lease outside the 1954 Act. Rent topped up by vendor to reflect December 2016 fixed rental uplift. Current passing rent £228,703 pa. A nine month rent deposit is held.

Lease inside the 1954 Act.

Lease inside the 1954 Act. Rent review clause stipulates that the new rent is to be analysed to an assumed floor area of 4,842 sq ft and geared to 95.5% of Open Mark Rent at the April 2017 review as long as tenant is in occupation.

Lease inside the 1954 Act. Guaranteed by Vapiano SE.

Lease inside the 1954 Act. A £29,375 rent deposit is held.

SEVENTYSIX WARDOUR

33

THE PROPERTY IS MULTI-LET TO A DIVERSE RANGE OF QUALITY TENANTS

Sheridans is a leading media law firm founded in 1956. Specialist services include media, leisure, entertainment, finance technology, intellectual property and real estate.Dun & Bradstreet reports a O1 rating for Sheridans which represents a minimum risk.

Founded in 1992 in London, Wagamama is a multi –award winning Japanese inspired restaurant which operates in over 18 countries worldwide. It is renowned amongst the restaurant industry for its innovative approach. In 2014 it was voted the number one brand in the UK for “satisfaction” and “intention to revisit” in the CGA Peach brandtrack survey.76 Wardour Street is the global headquarters of Wagamama.Dun & Bradstreet reports a 5A1 rating for Wagamama, based upon a £118,115,000 turnover and an annual pre-tax profit of £18,619,000 for the year ending April 2015.

Angela Mortimer is a recruitment firm specialising in placing business support and executive roles. Founded in 1976, the Angela Mortimer group of companies now operates in the UK, France, Belgium and the Netherlands.Dun & Bradstreet reports a 1A3 rating for Angela Mortimer based upon a turnover of £22,776,698 and a pre-tax profit of £670,188 for the year ending June 2015.

ThoughtWorks Ltd is a technology consultancy focusing on business development for its clients in sectors including financial services, health, government and retail.Founded over 20 years ago, ThoughtWorks now has 34 offices spanning 12 countries globally.Dun & Bradstreet reports a 4A1 rating for ThoughWorks, based upon a £41,944,354 turnover and pre-tax profits of £4,770,072 for the year ending December 2014.

Founded in Hamburg, Germany in 2002, Vapiano is an international franchise of Italian restaurants with over 168 restaurants in 30 countries.Dun & Bradstreet reports a 2A3 rating for Vapiano based upon a turnover of £9.16 million and a net worth of £5.54 million for the year ending December 2014.The obligations of Vapiano UK Limited as tenant are guaranteed by Vapiano SE.

Oaxaca Limited (t/a Wahaca).Founded in 2007, Wahaca has since expanded to 22 stores throughout London and across the UK. The multi-award winning restaurant chain focuses on quality Mexican ‘market-style’ food and drink.Dun & Bradstreet reports a 2A3 rating for Wahaca based upon a turnover of £36.21 million and a pre-tax profit of £1.46 million for the year ending June 2015.

Hummus Bros was founded in 2003. It is a Levantine-themed restaurant with a primary focus on hummus based dishes. It has since expanded to six stores in central London including Soho, Holborn, St Paul’s and Exmouth Market.Dun & Bradstreet reports an O2 rating for Hummus Bros which represents a lower than average risk of business failure.

COVENANTS

34

SHERIDANS

GROUND FLOOR RECEPTION

INVESTMENT MARKET COMMENTARY

Investment volumes in London reached £18 billion in 2015. The West End saw £1.5 billion worth of transactions in Q1 2016 with a further £355 million traded in the first month of Q2. This follows investment volumes of £9.3 billion across the whole of 2015 for the West End.

The diverse occupier base combined with a limited supply of investment opportunities attracts a range of domestic and international buyers; including institutional, corporate and private investors who view London as a safe haven for their equity against a backdrop of global financial volatility.

Central London retail investment has experienced transactional volumes of circa £575 million in Q1 2016 following total 2015 volumes of circa £2.3 billion, a 55% increase on 2014.

WEST END AND SOHO OFFICE RENTAL COMMENTARY

Total take-up in the West End for 2015 reached 3.21 million sq ft with prime rents of circa £120 psf consistently acheived. Vacancy rates remain at a historic low of 3.8%.

Soho has experienced exceptionally strong demand from creative, tech and financial industries, with prime rents now exceeding £100 psf.

As a result of the combination of an already low level of supply relative to demand, a restricted Soho development pipeline and the arrival of Crossrail over the next 2/3 years, office rents in the immediate area are forecast to experience further growth.

IN TERMS OF PROPERTY CENTRAL LONDON REMAINS THE WORLD’S MOST TRADED CITY

RENT

£77.00

£85.00

£91.50

£85.00

£80.00

£95.00-£102.50

TERM

10

10

10

10

5

10

FLOOR

ENTIRE

6th & 7th

3rd

ENTIRE

2nd & 3rd

4th-6th

TENANT

SNAPCHAT

AMICUS UK LTD

HIGHLAND CAPITAL PARTNERS EUROPE

KING DIGITAL ENTERTAINMENT PLC

INSTRUCTURE GLOBAL

DIAGEO PLC

AREA (SQ FT)

12,569

10,225

4,172

66,401

6,478

9,238

DATE

MAY 16

DEC 15

SEP 15

AUG 15

JUN 15

MAY 15

KEY OFFICE LEASING COMPARABLES

PROPERTY

7-11 LEXINGTON STREET, W1

7 AIR STREET, W1

12 GOLDEN SQUARE, W1

AMPERSAND BLDG, 180 WARDOUR STREET, W1

25 KINGLY STREET, W1

12 GOLDEN SQUARE, W1

*The information above has been supplied by third parties and its accuracy cannot be guaranteed.

MARKET COMMENTARY

36

NIY

c.3.90%

c.3.77%

c.4.21%

3.50%

c.3.30%

c.2.90%

CAP VAL PSF

£1,317

£2,221

£2,198

£2,347

£2,637

£1,303

TENURE

FH

FH

FH

FH

FH

FH

PRICE

£80,000,000

£96,000,000

£51,540,000

£121,700,000

£70,000,000

£33,500,000

AREA (SQ FT)

60,731

43,244

27,090

51,861

26,545

22,258

DATE

MAY 16

MAY 16

MAY 16

MAR 16

FEB 16

DEC 15

OFFICE INVESTMENT COMPARABLES

ADDRESS

ASTICUS BUILDING, 21 PALMER STREET, SW1

20 GROSVENOR SQUARE, W1

12 GOLDEN SQUARE, W1

14 ST GEORGE STREET, W1

8-10 HANOVER STREET, W1

12 SOHO SQUARE & 3-7 SOHO STREET, W1

VIEW FROM CENTRE POINT LOOKING WEST ACROSS SOHO

SEVENTYSIX WARDOUR

SOHO RETAIL & RESTAURANT MARKET COMMENTARY

Central London prime retail rents have experienced exceptionally high growth over the past five years, aided by London’s reputation as a world class retail destination. Soho has particularly benefited from the booming leisure sector and high demand from restaurant operators seeking premises in the area. Large premiums are often paid by ingoing tenants in order to secure units on prime Soho pitches such as Wardour Street.

Soho, the long established hub of West End nightlife, has emerged in recent years as a destination for high end restaurants such as Jackson + Rye, Social Eating House and Hix, just a few examples of the renowned operators with a presence in the area. As a result, ground floor rents (on best space) have reached upwards of £150 psf.

Central London remains a top global retailing destination and this position has been further strengthened by volatility in the emerging markets.

The arrival of the new Elizabeth line (Crossrail) at Tottenham Court Road station combined with the major public realm works of the West End Project is expected to enhance the immediate area even further.

Soho’s leisure operators are expected to benefit significantly from the 1.5 million sq ft of space in the development pipeline over the next five years for the Oxford Street East / Tottenham Court Road area. Of this, 450,000 sq ft is set to be flagship space aimed at attracting high quality retailers.

Driven by rising tourist numbers in central London and strengthening occupier demand, low vacancy rates are currently being experienced in Soho with strong rental growth forecast to continue alongside other core West End destinations such as Oxford Street, Regent Street, Bond Street and Covent Garden.

NIY

3.50%

2.74%

2.49%

2.97%

COMMENTS

Let to L’Entrecote. Residential sold off.

St James Tavern, Piccadilly Circus. Admiral Duncan, Old Compton Street.Duke of Wellington, Wardour Street.

Let to L’Autre Pied.

Let to Starbucks.

TENURE

FH

FH

FH

FH

PRICE

£8,300,000

£30,000,000

£12,100,00

£4,140,000

AREA (SQ FT)

3,630

15,303

2,156

3,612

DATE

APR 16

DEC 15

AUG 15

APR 15

RESTAURANT, RETAIL AND LEISURE COMPARABLES

ADDRESS

50 DEAN STREET, W1

STONEGATE PUB PORTFOLIO

5-7 BLANDFORD STREET, W1

4 GREAT MARLBOROUGH STREET, W1

DATE

JAN 16

SEP 15

MAR 15

NOV 14

NOV 14

NOV 14

RENT ON BEST SPACE (£PSF)

£155.00

£110.20

£119.00

£188.50

£130.00

£115.00

LEASE EVENT

OML

OML

RR

OML

OML

OML

SOHO RESTAURANT LEASING COMPARABLES

ADDRESS

81 DEAN STREET, W1

50 DEAN STREET, W1

122-126 WARDOUR STREET, W1

1-4 BERKELEY SQUARE, W1

1 CAMBRIDGE CIRCUS, WC2

22 KINGLY STREET, W1

TENANT

WAGAMAMA

LE RELAIS DE VENISE L’ENTRECOTE

COTE BRASSERIE

SEXY FISH

BOCCO DI LUPO / VICO

DISHOOM

*The information above has been supplied by third parties and its accuracy cannot be guaranteed.

MARKET COMMENTARY (CONT)

38QUO VADIS, DEAN STREET

BEN BLINSTON-JONES +44 (0)20 7543 6716BEN.BLINSTON-JONES@ALLSOP.CO.UK

NICK PEMBERTON+44 (0)20 7543 6775NICK.PEMBERTON@ALLSOP.CO.UK

MARK IBBOTSON +44 (0)20 7543 6879MARK.IBBOTSON@ALLSOP.CO.UK

CHLOE NEWTON+44 (0)20 7543 6886CHLOE.NEWTON@ALLSOP.CO.UK

CAPITAL ALLOWANCES

Capital allowances may be available to a purchaser by separate negotiation.

VAT

The property is elected for VAT which will be chargeable on the purchase price. It is anticipated that the transaction is to be treated as a transfer of going concern (TOGC).

ENERGY PERFORMANCE CERTIFICATE

The property has been classified as having an EPC rating of ‘B’.

PLANNING

The property is not listed but does lie within the Soho Conservation Area.

DATA ROOM

Please contact Allsop for password protected access to the data room.

PROPOSAL

Offers are invited for the freehold interest.

PLEASE CONTACT

For further information, or to arrange a viewing, please contact:

MISREPRESENTATION 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, give notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representative of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representa-tions, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. June 2016.

MORE INFORMATION