COMPTON HOUSE. Modern Grade A Office Investment 2300 THE CRESCENT I BIRMINGHAM BUSINESS PARK I B37 7YE

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1 COMPTON HOUSE Modern Grade A Office Investment

2 Investment Summary Modern headquarters office building Secure investment opportunity in an established business park location Situated at Birmingham Business Park, the West Midland s premier out of town office location Well located with excellent nearby amenities and 1 mile from J.7 of the M42 A modern headquarters office building over three floors finished to a very high Grade A standard Providing a net internal area of 32,674 sq ft (3,035.5 sq m) Exceptional onsite parking allocation of 155 spaces at a ratio of 1 per 210 sq ft Let it its entirety to Uniper UK Ltd, guaranteed by Uniper SE, a major global energy company with over 12,000 employees worldwide Let by a way of a lease from 12th April 2016 for a term of 10 years and 8 months until 11th December 2026 (thus providing 8.19 years unexpired) on full repairing and insuring terms The passing rent is 645,180 per annum (reflecting per square foot) Freehold We are instructed to seek offers in excess of 8,960,000 (eight million nine hundred and sixty thousand pounds) subject to contract and excluding VAT. A purchase at this level reflects a net initial yield of 6.75% (after allowing for purchaser s costs of 6.68%) and a capital value of 274 per sq.ft.

3 Location Compton House is a high quality, Grade A office building located on Birmingham Business Park, Birmingham s most established out of town office destination. The building provides easy access to Birmingham Airport and International Railway Station and overlooks Solihull Parkway. Birmingham Business Park lies 12 miles east of Birmingham city centre and close to Birmingham International Airport. It is 1 miles south west of J.7 of M42 and J.4 of the M6. There is a regular bus service which runs directly to the Business Park every 12 minutes, while frequent train services operate to Birmingham New Street in under 15 minutes and London Euston is only 70 minutes away. BIRMINGHAM MARSTON GREEN Birmingham Business Park COVENTRY RD BIRMINGHAM AIRPORT A45 CHESTER RD COLESHILL HEATH RD SOLIHULL PKWY BICKENHILL PKWY WALSALL M6 A452 4 BICKENHILL NEC M42 7 7A M42 6 TAMWORTH COLESHILL A446 4 STONEBRIDGE RD A452 PENDIGO WAY SOLIHULL CHESTER RD A45 3A MAXSTOKE M6 COVENTRY COVENTRY CARDIFF LIVERPOOL M56 CHESTER TELFORD Birmingham Business Park HEREFORD M4 M54 BIRMINGHAM M50 GLOUCESTER BRISTOL MANCHESTER M60 M6 M5 SHEFFIELD LICHFIELD M42 M6 OXFORD M4 A1(M) M1 NOTTINGHAM LEICESTER M69 M40 M1 MILTON KEYNES M3 PETERBOROUGH A1(M) A1(M) M25 LONDON

4 Situation M6 7A Birmingham Business Park currently has a total built stock of 1.884m sq.ft across 148 acres. The Park is already home to over 100 companies, including large multi-national corporations such as Rolls Royce, Fujitsu, Beiersdorf, Pendragon Group, Computacenter and Atos. It is located adjacent to the M6 J4, with nearby amenities such as: Birmingham Airport, with flights to 110 European and international destinations Birmingham International Railway Station, which provides regular direct services to London and the north Resorts World Birmingham complex, offering restaurants, a hotel, cinema, conference facilities and designer outlets National Exhibition Centre (NEC), major host of international conventions, exhibitions and concerts. BIRMINGHAM AIRPORT Birmingham Business Park A452 The Crescent Solihull Pkwy NATIONAL EXHIBITION CENTRE 7 M42 4 ARDEN CROSS HS2 HS2 BIRMINGHAM INTERNATIONAL HS2 Phase I, between London and Birmingham, received Royal Assent in February The first stop will be at Arden Cross at J.6 of the M42 and a short distance from Compton House. Upon completion the journey time from Compton House to Central London will be less than 45 minutes. Arden Cross will also provide a new vibrant mixed use development include commercial, residential, leisure and retail. GENTING ARENA THE 6 RESORTS WORLD Arden Cross Development Birmingham Airport Resorts World National Exhibition Centre

5 Description Compton House, measuring 32,674 sq.ft over 3 floors, is modern headquarters office building with a full Grade A specification including: Four pipe fan coil air conditioning 150mm fully accessible raised floors LG7 light diffusers A 10 person lift Male & female WC s on every floor Shower room and kitchen on every floor Car Parking ratio of 1:210 sq ft (155 in total) The building was subject to a significant refurbishment in 2015 which included the replacement of the M&E system with the addition of four pipe fan coil air conditioning. Accommodation The building has been measured in accordance with the RICS Code of Measuring Practice 6th Edition and provides the following Net Internal Areas: GF/Reception: 10,942 sq.ft 1,106.6 sq.m 1st Floor: 10,866 sq.ft 1,009.5 sq.m 2nd Floor: 10,866 sq.ft 1,009.5 sq.m TOTAL NIA: 32,674 sq.ft 3,035.5 sq.m EPC The property has an EPC rating of D98.

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7 Tenure The Guarantor Freehold. Tenancy Details Compton House is fully let to Uniper UK Ltd on an FRI lease from 12/4/2016 expiring 11/12/2026 (thus providing c.8.19 year s term certain). The passing rent is 645,180 per annum ( per square foot). The lease is guaranteed by Uniper SE, an investor owned international energy company with operations in more than 40 countries and over 12,000 employees. They are headquartered in Dusseldorf, Germany and are listed on the Frankfurt Stock Exchange. Uniper SE, the guarantor, has a Dun and Bradstreet Rating of 5A2. In the past 12 months their share price has increased from Euros to Euros per share. Their most recent annual sales showed 72.7bn Euros and their Market Cap is 9.5bn Euros. Key information: 1.7bn Euros EBITDA 100 years of experience Approx 36 GW generating capacity 8.2bcm gas storage capacity 400 TWh long term gas contracts The lease is guaranteed by Uniper SE, an International Energy Company listed on the Frankfurt Stock Exchange. The Tenant Uniper UK Ltd is an international energy company focused on power generation, energy trading, transportation, and storage, as well as a provider of specialist power engineering services and training to the industry. The company was formed by the separation of E.ON s fossil fuel assets into a separate company that began operating on 1 January They currently employ 633 people in the UK. Uniper UK Ltd have a Dun and Bradstreet Rating of 5A1. Their most recent Financial Summary is summarised below: Fiscal non consolidated GBP (31/12/2017) Fiscal non consolidated GBP (31/12/2016) Fiscal non consolidated GBP (31/12/2015) Turnover 743,000, ,000, ,000,000 Profit / (Loss) Before Taxes ( 112,000,000) ( 650,000,000) ( 6,000,000) Total Assets 618,000, ,000,000 1,259,000,000 Shareholder Funds 423,000, ,000,000 1,081,000,000

8 M42 Office Market Birmingham Business Park is part of the M42 market, an area between Junction 3 and 6, and also includes Blythe Valley Park, The Fore, Shirley, Solihull Town Centre, Trinity Park and the Airport. It is Birmingham s key out of town market with a total built stock size of circa 5.9m sq.ft. The immediate location has experienced 13%+ rental growth in the last 12 months and it remains one of the more attractive midlands submarkets. It will continue to attract tenants due to its wide sector base and accessible location. Lack of funding for speculative development has caused a supply shortage, which will continue over the next five years as the pipeline struggles to keep pace with demand. This is particularly true for the immediate vicinity where there is a real lack of development and refurbishment opportunities. Take-up in 2017 was below the 6 year average (269,498 sq.ft vs 335k sq.ft) due to a lack of stock. What was evident was space that had been refurbished and invested in experienced the highest level of activity. Notable transactions in 2017 included Gymshark taking 42,400 sq.ft at Trigen House (Blythe Valley Park), BCA Logistics taking 20,700 sq.ft at 1320 Solihull Parkway (Birmingham Business Park) and PKF Cooper Parry taking 17,800 sq.ft at 1 Central Boulevard (Blythe Valley Park). The Fore, Shirley Blythe Valley Park Trinity Park has been another strong year in terms of take-up for the M42 market. This is despite record low levels of availability. Take-up for the first three quarters stands at over 250,000 sq.ft and prime rents have moved forward on to 25 per sq.ft. Key deals to highlight include: Address Size (SqFt) Occupier Rent (PSF) Trinity Central, Birmingham Airport 25,200 Beiersdorf UK Zenth, Cranmore Drive 23,749 Bizspace FH 31 Homer Road 12,796 Blue System Ltd Central Boulevard, Blythe Valley 10,633 Wavenet FIRST Blythe Valley 15,000 Jerroms Plot F3 Blythe Valley Park 15,608 Prologis Trident Court 15,954 CSI Central Boulevard, Blythe Valley 11,403 GKN Aerospace Homer Road, Solihull Town Centre

9 Investment Comparables The market for out of town office investments has been very strong in recent years as outlined with the below schedule of recent activity: DATE ADDRESS TENANT PRICE PRICE PSF YIELD PURCHASER COMMENTS May The Crescent, Birmingham Business Park SSP Ltd 7.3m 268 6% Canal and River Trust 8 years term certain. The rent review is index linked with a C&C of 1.5% and 5%. May 18 Swallowfield, Oldbury AA Plc c. 24m % Corum Asset Management Term certain of 10 years. Feb 18 Charter Court, Wolverhampton Business Park Charter Court Financial Services 4.565m % Landlark Investments Forward commitment. New 10 year lease. Dec 17 Lichfield South Multi-let 10.8m 251 7% Leics County Council WAULT of 7 years to breaks. Dec 17 Birmingham International Park, Solihull Robert Half, Fair Isaac Services, ECC 17m % Columbia Threadneedle WAULT of 4 years. Dec 17 Arup HQ Blythe Valley Park Arups 23.54m % Private overseas fund 6 years term certain. Nov Solihull Parkway, Birmingham Business Park Vector/BCA Logistics 5.65m % Columbia Threadneedle WAULT of c.8.5 years. Nov 17 The Courtyard, Warwick Road, Solihull Multi-let 8.65m % Longmead Capital WAULT of 3.78 years to breaks. Sept 17 T3 Trinity Park, Birmingham Airport CGI (but fully sub-let) 10.75m % Mayfair Capital 12 months to lease expiry. March 17 Park Square, Birmingham Business Park Multi-let 9.65m % Canmoor/Blackrock Over a quarter vacant and unrefurbished. Jan 17 Globe House, Warwick Tech Park IBM 7.75m % CCLA 4 years to expiry. Dec 16 Earlswood Court, Solihull Paragon Finance PLC 10.5m % Nottingham City Council Let with 9.6 years unexpired.

10 Contacts For further information or to arrange a site inspection, please contact the following: Ben Wisher T: E: ben.wisher@knightfrank.com Ashley Hudson T: E: ashley.hudson@knightfrank.com Henry Wyld T: E: henry.wyld@knightfrank.com KnightFrank.co.uk Proposal We are instructed to seek offers in excess of 8,960,000 (eight million nine hundred and sixty thousand pounds) subject to contract and excluding VAT. A purchase at this level reflects a net initial yield of 6.75% (after allowing for purchaser s costs of 6.68%) and a capital value of 274 per sq.ft. Important Notice : 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. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. None of the services or appliances have been tested and no warranty is given or is to be implied that they are in working order. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 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 OC Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members names. September 2018 carve-design.co.uk 13686