THE A U S T R A L I A PORTFOLIO

THE A U S T R A L I A PORTFOLIO

SAlAmANDER QUAY PARk LANE HAREfIELD ODYSSEY BUSINESS PARK WEST END ROAD RUISLIP PARAllAx AxIS PARk SLOUgH SQUARE ONE SOUTHALL LANE HESTON

THE A U S T R A L I A PORTFOLIO PORtfolIO SummARY 4 South East office buildings close to either the M25/M4 or M25/M40. Total net internal area in excess of 285,900 sq ft (26,500 sq m) all with excellent car parking ratio s of better than 1:293 sq ft. All of the properties are multi let. Existing tenants include M W Kellogg, Honda, Yakult, Altus UK LLP and Muirhead Aerospace. Extensive capital expenditure totalling 6.7m has already been incurred on the void elements. Opportunity to increase the passing rent by over 100% by letting voids. Rents established at the bottom of the cycle offering further growth beyond ERV. Total rent passing - 2,392,554 per annum equating to 8.37 psf on the overall. Total ERV - 4,926,053 per annum equating to 17.23 psf on the overall. Majority Freehold, with two having small leasehold elements. A rare opportunity to acquire a portfolio of well located South East assets with significant value enhancement opportunities, based off low capital values and ERV s. I n v E S t m E N t P R O P O S A l Offers are sought in the region of 31,500,000 (Thirty One Million, Five Hundred Thousand Pounds), subject to contract and exclusive of VAT for our clients interests. A purchase at this level will provide the following profiles assuming costs at 5.7625%: Net Initial Yield 7.18% Reversionary Yield 14.79% Extremely Low Capital Value per square foot of 110.18

O d y s s e y B u s i n e s s P a r k

ODYSSEY BUSINESS PARK WESt END ROAD RUISlIP HA4 6QD location The property is located to the west of London approximately 1 kilometre (0.6 miles) to the north of the A40 at South Ruislip. The park fronts West End Road (A4180) and is accessed from the A40 at the Polish War Memorial Roundabout. O DYSSEY B USINESS PARK The A40 provides direct access to Central London, which is approximately 22 kms (14 miles) to the east. The A40 also links to the North Circular Road (A406) at Hangar Lane approximately 9 kms (5.5 miles) to the east, and the M25 at Junction 16, which is approximately 10 kms (6 miles) to the west. Heathrow Airport is accessed by the A312 Hayes by-pass dual carriageway, and is approximately 8 kms (5 miles) to the south. SItUAtION The property is situated immediately to the east of Northolt Aerodrome off the A406 West End Road. A separate pedestrian security gate to the rear of the site allows access to South Ruislip station, which is approximately a 3 minute walk. This provides Underground links (Central Line) to Central London and mainline services direct to London Marylebone (25 minutes). Local shopping facilities are situated around South Ruislip underground station and Ruislip High Street. Main shopping facilities are available at Uxbridge, 9 kms (5.5 miles) to the west and Ealing, approximately 12 kms (7.5 miles) to the east.

ODYSSEY BUSINESS PARK WESt END ROAD RUISlIP HA4 6QD DEScRIPtION The property comprises four pavilion style office buildings constructed in 1990, with mainly brick clad elevations. The properties were originally designed and built for British Airways who were in occupation up until 2004. Athene, Artemis and Ares were refurbished post BA s occupation. Apollo has recently undergone a comprehensive refurbishment at a cost of circa 1.5million. Please refer to the marketing website for more details: www.apollo-odyssey.co.uk Each building has a main core containing the principle entrance, reception area, lift and stairs to the first floor. The office areas are directly accessed from the central core/ reception allowing the buildings to be readily divisible into four sections. Internally, the buildings have mineral fibre suspended ceilings, recessed lighting (Lg7 in the case of Apollo), fan cooled air conditioning (3 pipe VRV air conditioning in the case of Apollo), accessible metal tile raised floor, a 13 person passenger lift, male and female WC s on each floor, and a shower facility. In the reception areas there are steel staircases with hardwood treads and a mixture of carpeted and tiled floors. Heating is provided via gas fired central heated boilers. There is a single storey glazed café facility located in the centre of the park. A steel framed glazed walkway links the Café to the various approach ways. The landscaping around the park is well established. AccOmmODAtION We are advised the property provides approximately 142,303 sq ft (13,220 sq m) of net internal area. There are a total of 574 marked car parking spaces which equates to an impressive ratio of 1:248 sq ft. The site extends to approximately 3.55 hectares (8.78 acres). tenure The majority of the property is held freehold. There is one area of land which is principally the access road which is held on a 999 year lease from the Secretary of State for Defence from 28 March 1985, at a peppercorn rent without review. This area is hatched blue on the site plan.

ODYSSEY BUSINESS PARK WESt END ROAD RUISlIP HA4 6QD tenancy ScHEDUlE BUIlDING/ floor AREAS SQ ft SQ m tenant lease terms RENt P.A. ( PSf) RENt REvIEWS ERv P.A. ( PSf) lease ExPIRY (BREAK) comments 1954 Act ExclUDED Athene ground floor 23,190 2,154.40 MW kellogg Limited 5 years from 7 May 2006 371,040 ( 16.00) 382,635 06/05/2011 102 car parking spaces S/C capped at 126,428 p.a. but increased with RPI each S/C year Athene first floor 23,109 2,146.88 MW kellogg Limited 5 years from 15 Aug 2006 369,712 ( 16.00) 381,299 06/05/2011 102 car parking spaces S/C capped at 125,988 p.a. but increased with RPI each S/C year Ares Part ground floor 13,165 1,223.06 VACANT 0 217,223 Ares Part ground floor 4,980 462.65 Milpharm Ltd 10 years from 25 March 2006 80,400 ( 16.14) 25/03/2011 82,170 24/03/2016 22 car parking spaces 9/6/2010 8/6/2011 rent free Negotiations are ongoing for tenant to take a further 2,000 sq ft Ares Part first (S) 7,226 671.31 Ladbrokes Betting & gaming Limited 10 years from 20 January 2006 116,750 ( 16.16) 119,229 19/01/2011 6 months Break Notice Secured Ares Part first (N) 11,119 1,032.98 Hornbill Systems Limited 10 years from 6 Oct 2005 178,000 ( 16.01) 06/02/2009 06/10/2010 183,464 05/10/2015 (05/10/2011) 9 months prior written notice, 6 months rent & VAT 20 car park places within demise & further right to use 27 spaces in common S/C cap of 57,620 p.a but increased with RPI each year Artemis Part ground floor (N) Artemis Part ground floor (S) Artemis Part first floor Artemis Part first floor Artemis Part first floor 6,750 627.09 Yakult Uk Limited 7,176 666.67 5,455 506.78 SRg Interesource Limited Ladbrokes Betting & gaming Limited 10 years from 18 Aug 2005 5 years 6 months from 21 June 2005 10 years 1 month from 9 feb 2006 to 2 April 2016 112,160 ( 16.62) 118,404 88,640 ( 16.25) 3,600 334.45 VACANT 0 4,580 425.49 On Demand Communications Limited 5 years from 29 Sept 2009 91,400 ( 19.96) Apollo 29,773 2,765.98 VACANT 0 Café in the Park 2,180 202.53 (The Café) OCS group Uk Limited 3 years from 11 Aug 2008 03/04/2011 111,375 118,404 90,008 55,800 ( 15.50) 75,570 565,687 ( 19.00) 0 10,900 total 142,303 13,220 1,526,506 2,393,762 17/08/2015 25/12/2010 02/04/2016 (02/04/2011) (02/10/2013) 28/09/2014 10/08/2011 (11/08/2010) 30 car parking spaces S/C cap of 35,576 subject to increase with RPI NB from 19/08/2010 18/05/2011 T has rent free period as did not exercise break option. 24 car parking spaces 31,144 S/C cap but increased with RPI each year 24 car parking spaces S/C cap at 31,004 with RPI increase. 6 months prior written notice required, 3 months rent free if break not exercised. 35 car parking spaces S/C cap at 27,486 from 29/09/2001 28/09/2010 Current rent free 07/02/2011-91,400 2 car parking spaces Calculation used to work out monthly net profit rent

S a l a m a n d e r Q u a y

SAlAmANDER QUAY PARK lane HAREfIElD UB9 6NZ location Harefield is located 28.8 km (18 miles) north west of Central London and just east of the A412 Uxbridge/Rickmansworth Road. It benefits from close proximity to the A40/M40 and to Junction 17 of the M25. West Ruislip, Rickmansworth (mainline and underground) and Denham (mainline) stations are nearby providing direct access to London Marylebone Station and other underground stations. Heathrow Airport is within close proximity to the south. SALAMANDER QUAY Harefield is a relatively small commercial centre, providing shopping and other local services. It is, however, a strategic location relative to the M40 and the M25 motorways and has attracted a number of significant office occupiers into the area such as the Clancy group Plc. Other significant schemes in the area are the Denham Media Park and Broadwater Park where tenants include Bosch and Varta Batteries. The office buildings at Maple Cross, on the A412 to the north, are occupied by Renault- Nissan, Skanska and Cadbury Schweppes. To the south on Moorhall Road there is the Widewater Office Park where tenants include BIC Uk Ltd, Norgine and Musgrave. SItUAtION The property occupies a self contained site fronting Park Lane with the grand Union Canal to the rear. The property is accessed from the A412 via Coppermill Lane. The property is set within a designated conservation area on the banks of the grand Union Canal and close to the River Colne. To the north of the site is residential, and to the west there are offices.

SAlAmANDER QUAY DEScRIPtION The property consists of two buildings, Quay West & Bankside, constructed in 1988. Each of the buildings has an in-situ concrete frame. Elevation walls are generally of cavity wall construction, with an inner block leaf and external fair faced yellow stock brickwork. full height powder coated aluminium double glazed windows are provided to the ground floor between brickwork sections. The internal specification includes carpeted floors incorporating three compartment truncking, suspended ceilings with recessed fluorescent lights and each suite is served by its own gas fired central heating system. Bankside has recently been refurbished at a cost of 500,000. AccOmmODAtION We are advised the property provides approximately 34,156 sq ft (3,173 sq m) of net internal area. There are a total of 168 marked car parking spaces which equates to an impressive 1:236 sq ft. The site extends to 1.02 hectares (2.54 acres). tenure The estate comprises two freehold titles. The first freehold, hatched green and comprising Bankside, is held by the vendor. The second freehold, hatched blue and comprising Quay West, is held by the management company Quay West Estate Company Limited. The vendor holds 15 of the 19 long leases (999 years) and consequently 15 of the 19 shares in the management company; as the controlling shareholder it is able to appoint directors and manage the estate through the management company as freeholder and head landlord. PARK lane HAREfIElD UB9 6NZ

SAlAmANDER QUAY PARK lane HAREfIElD UB9 6NZ tenancy ScHEDUlE BUIlDING SUItE SQ ft AREAS SQ m tenant Quay West A 1,329 123.47 CSL Dualcom Limited lease terms 7 years 4 months & 21 days from 24 June 2005 Quay West B 1,373 127.55 CSL Dualcom Limited 6 years from 14 Nov 2006 Quay West C 1,330 123.56 VACANT Quay West D 1,295 120.31 Ciber Novasoft Limited 2 years from 24 June 2010 Quay West E 902 83.80 Ciber Novasoft Limited 2 years from 24 June 2010 Quay West f1 856 79.52 VACANT Quay West f2 360 33.44 VACANT RENt P.A. ( PSf) 30,800 ( 23.18) 30,800 ( 22.43) 28,785 ( 22.23) 20,746 ( 23.00) ERv P.A. ( PSf) 22,593 23,341 22,610 22,015 15,334 14,552 6,120 lease ExPIRY (BREAK) comments 1954 Act ExclUDED 13/11/2012 5 car parking spaces 13/11/2012 4 car parking spaces 23/06/2012 (24/06/2011) 23/06/2012 (24/06/2011) 4 car parking spaces 3 car parking spaces Quay West g 1,266 117.61 Ashok Maganlal Sodha 999 years from 1 Jan 2002 N/A 31/12/3001 5 car parking spaces N/A Quay West H&I 2,744 254.92 VACANT Quay West J 1,102 102.38 VACANT Quay West k 1,640 152.36 Quay West L 1,330 123.56 The Hardware federation Trustee Company Limited Safeguard Biosystems Holdings Limited 46,648 18,734 999 years from 1 Jan 2002 N/A 31/12/3001 6 car parking spaces 4 years from 9 March 2007 Quay West M 1,330 123.56 JAI (Uk) Limited 2 years from 24 June 2009 Quay West N 857 79.62 VACANT Quay West O 1,300 120.77 forester grant Associates Limited 999 years from 1 Jan 2002 N/A 31/12/3001 Quay West P&Q 2,592 240.80 Merlin Claims Limited 6 years from 6 May 2009 Quay West R1 480 44.59 The Lawson Partnership Quay West R2 716 66.52 VACANT Quay West S 1,315 122.17 Jane Deborah Page & Richard Charles Anthony Page Bankside ground floor 7,193 668.25 VACANT Bankside first floor 6,747 626.81 VACANT Bankside Second floor 1,620 150.50 VACANT 3 years from 29 September 2004 29,925 ( 22.50) 30,000 ( 22.56) 56,408 ( 21.76) 9,600 ( 20.00) 22,610 22,610 14,569 44,064 8,160 12,172 08/03/2011 4 car parking spaces 23/06/2011 5 car parking spaces 05/05/2015 (05/05/2012) 5 car parking spaces Voluntary Liquidation 8 car parking spaces Tenant moved from Bankside 56,408 until 05/05/2012 06/05/2012 05/08/2012 = peppercorn 06/08/2012 05/05/2015 = 56,408 2 car parking spaces Holding Over 999 years from 1 Jan 2002 N/A 31/12/3001 5 car parking spaces 136,667 ( 19.00) 128,193 ( 19.00) 32,400 ( 20.00) total 34,156 3,173 (areas exclude sold off suites) 237,064 613,392

S q u a r e O n e

SQUARE ONE SOUtHAll lane HEStON UB2 5NH location Square One is located 4 miles north east of London Heathrow Airport and is within 1 mile of Junction 3 of the M4 and 4.5 miles of the M4/M25 intersection. The area has good communication links to Central London 15 miles to the east. Hayes & Harlington train station provides direct access to London Paddington (16 minutes) and Heathrow (6 minutes). The property lies 0.5 miles from the A312 Hayes by-pass, a north-south link between the M4 and A40 (providing access to the M40). SItUAtION The property is prominently situated at the roundabout intersection of the Hayes Road and Southall Lane. Hayes Road provides direct access to the A312 Parkway, just 0.4 miles from Junction 3 of the M4. Access to the park is via Southall Lane. Local amenities include the David Lloyd Health Club, Airlinks golf Club and a Tesco Superstore. Local shopping facilities are in Southall and Hayes which are both accessed via a short bus journey or on foot.

SQUARE ONE SOUtHAll lane HEStON UB2 5NH DEScRIPtION The property comprises four office buildings with a café on the park. The property has recently undergone a major refurbishment totalling 4.7m. Buildings 1 & 2 provide: New VRf comfort cooling and heating New fresh air supply and extract 100mm raised access floors New mineral fibre suspended ceilings Lg7 compatible lighting New double height fully glazed reception areas New WC s (male, female and disabled) New cladding to external elevations Video door entry systems The refurbishment has allowed the buildings to be subdivided into suites from 2,716 sq ft through to self-contained buildings of up to 18,000 sq ft with varying combinations in between. Building 3 is let on its original specification. Building 4 has new cladding and double height fully glazed reception areas. Internally it has been refurbished following the recent departure of the previous tenant. A single storey café with external seating areas has recently been constructed and completely fitted out. It can be commissioned immediately as occupation on the park increases. The refurbishment has included more extensive works to the landscaping which has been re-designed and re-planted together with a cycle storage facility. The roadways around the estate are tarmac with block paving to car parking areas and concrete paving to the entrance areas. AccOmmODAtION We are advised that the property provides approximately 68,200 sq ft (6,335 sq m) of net internal space excluding the café. There are a total of 233 car parking spaces on the park which equates to a generous car parking ratio of 1:293 sq ft. The site extends to approximately 1.52 hectares (3.80 acres). tenure The property is held freehold.

SQUARE ONE SOUtHAll lane HEStON UB2 5NH tenancy ScHEDUlE BUIlDING floor SQ ft AREAS SQ m tenant lease terms RENt P.A. ( PSf) RENt REvIEWS ERv P.A. ( PSf) lease ExPIRY (BREAK) comments 1954 Act ExclUDED Building 1 ground floor Suite 1 3,520 372.02 Harmoni HS Ltd 10 years from 26 May 2009 66,880 ( 19.00) 26/05/2014 65,120 ( 18.50) 01/01/2015 11 car parking spaces Building 1 ground floor Suite 2 4,470 415.27 VACANT 82,695 ( 18.50) fitted out suite Building 1 first floor Suite 3 3,513 326.37 VACANT 64,991 ( 18.50) Building 1 first floor Suite 4 4,340 403.20 2E2 Uk Ltd 5 years from 13 Sept 2010 86,000 ( 19.82) 80,290 ( 18.50) 12/09/2015 11 car parking spaces Building 2 ground floor 8,776 815.31 VACANT 162,356 ( 18.50) Building 2 first floor 9,074 843 VACANT 167,869 ( 18.50) Building 3 Building 3 10,041 932.83 Muirhead Aerospace Limited 10 years from 12 Sept 2003 160,676 ( 16.00) 160,676 ( 16.00) 11/09/2013 38 car parking spaces Building 4 ground floor 12,157 1,129.41 VACANT 164,120 ( 13.50) Building 4 first floor 12,306 1,143.26 VACANT 166,131 ( 13.50) Electricity Sub-Station Southall Lane 0 0 SSE Services PLC 99 years from 12 Nov 1986 total 68,197 6,336 313,556 1,114,247 11/11/2085

P a r a l l a x

PARAllAx AxIS PARK SlOUGH Sl3 8US location Langley is located 3 miles to the east of Slough in Berkshire. Slough is a major commercial centre within the Thames Valley, with excellent transport links to both central London, the western corridor and Heathrow Airport via the M4 (Junctions 5-7). It lies 21 miles west of Central London, 21 miles east of Reading and 6 miles north of Windsor. The M25 is approximately 2 miles to the east of the property via Junction 5 of the M4. Rail links to both Langley and Slough Central are excellent. There is a frequent direct service from London Paddington to Langley (31 minutes) and into Slough (36 minutes). In addition, there are regular trains to Reading (20 minutes) and Maidenhead (12 minutes). SItUAtION Axis Park is one of the most prominent business parks in the Western Corridor fronting the M4 motorway. The property has exceptional transport links, lying 0.5 miles from the M4 (Junction 5), 2 miles from the M4/M25 intersection and 9 miles from the M40 (Junction 1A). Heathrow lies 6 miles to the east, via the M4. Langley Station is 1.3 miles from the property and Slough Central Station is 3 miles away.

PARAllAx AxIS PARK SlOUGH Sl3 8US DEScRIPtION The property was constructed in 2002 by MEPC Plc to a modern grade A standard, comprising a steel portal frame construction, which is primarily clad in glass. Internally the property is accessed via an imposing full height glass winter garden leading through to a large reception area with two, ten person passenger lifts. The internal specification comprises four pipe fan coil air conditioning, fully accessible raised floors with 150mm clear void, suspended ceilings with category II lighting, and a 2.75m clear finished floor to ceiling height. Externally the park has been landscaped to a high quality providing extensive planting and an impressive water feature at the front of the property. Roadways are tarmac throughout with block paving surrounds. The park benefits from 24 hour onsite security and CCTV. Parallax enjoys high visibility from the M4 offering the opportunity for occupiers to have a high level of branding on the building. AccOmmODAtION We are advised the property provides approximately 41,250 sq ft (3,830 sq m) of net internal area. There are a total of 337 car parking spaces which equates to a parking ratio of 1:130. In addition to the on site marked and consented car parking spaces, there is a gravelled area fronting the M4. This gravel area is within the freehold demise being offered and is defined as part of the M4 widening plans, which is not due for consideration until 2016 at the earliest. This gravel area is not consented for car parking but is currently used as such providing approximately 120 car parking spaces. tenure The property is held freehold.

PARAllAx AxIS PARK SlOUGH Sl3 8US tenancy ScHEDUlE floor/use SQ ft AREAS SQ m tenant lease terms RENt P.A. ( PSf) RENt REvIEWS ERv P.A. ( PSf) lease ExPIRY (BREAK) comments 1954 Act ExclUDED Part ground floor 2,797 259.85 Altus Uk LLP 5 years from 24 June 2010 39,158 ( 14.00) 51,745 ( 18.50) 23/06/2015 Note 1 7 car parking spaces S/C cap at 7.50 p.s.f Increased annually with RPI Part ground floor 10,715 995.45 Honda finance Europe Plc 10 years from 14 feb 2008 262,518 ( 24.50) 14/02/2013 198,228 ( 18.50) 13/02/2018 (01/03/2015) 27 car parking spaces 6 months prior notice pay termination sum first floor 13,603 1,263.75 VACANT 265,259 ( 19.50) Second floor 14,137 1,313.36 VACANT 275,672 ( 19.50) 7 car parking spaces Altus Uk LLP 5 years from 24 June 2010 4,375 4,375 23/06/2015 Note 2 Co-terminus with above office lease dated 24 June 2010 15 car parking spaces Honda finance Europe Plc 1 year 10 months from Sept 2010 9,375 9,375 13/2/2018 Note 2 Rolling monthly landlord and tenant breaks In solicitors hands Not yet completed 31 car parking spaces Honda finance Europe Plc 10 years from 14 feb 2008 1 p.a 0 13/02/2018 Note 2 Co-terminus with above office lease dated 14 february 2008 8 car parking spaces Altus Uk LLP 5 years from 24 June 2010 1 p.a 0 23/06/2015 Note 2 Co-terminus with above office lease dated 24 June 2010 total 41,252 3,832 315,428 804,652 Note 1: Rent set in June was net effective on the basis of no rent free or incentives. Note 2: All parking leases listed above are determinable by Landlord if required by Slough Borough Council

PORTFOLIO C a p i ta l A l l O WA N c E S We are advised that there are unclaimed capital allowances and further details are available upon request. THE A U S T R A L I A SHORtfalls A full schedule of shortfalls which are made up of empty rates and service charge is available upon request. VAT The properties are elected for VAT. I n v E S t m E N t P R O P O S A l Offers are sought in the region of 31,500,000 (Thirty One Million, Five Hundred Thousand Pounds), subject to contract and exclusive of VAT for our clients interest, a purchase at this level will provide the following profiles assuming costs at 5.7625%; Net Initial Yield 7.18% Reversionary Yield 14.79% Extremely Low Capital Value per square foot of 110.18 FURTHER INFORMATION For further information, or to arrange a viewing, please contact; Ben Goodberry Tel: 0207 495 5550 Mob: 07799 038 391 Email: bengoodberry@tudortoone.com Alastair Tyrrell Tel: 0207 495 5550 Mob: 07831 825 458 Email: alastairtyrrell@tudortoone.com MISREPRESENTATION ACT 1967 41-43 Maddox Street London W1S 2PD t 0207 495 5550 f 0207 495 5551 www.tudortoone.com SUBject to contract AND ExclUSIve of VAT TUDOR TOONE LLP, FOR ITSELF AND FOR THE VENDORS OF THIS PROPERTY, HEREBY GIVE NOTICE THAT: THESE PARTICULARS DO NOT CONSTITUTE, NOR CONSTITUTE ANY PART OF, AN OFFER OR CONTRACT. TUDOR TOONE LLP AND ITS MEMBERS ACCEPT NO LEGAL RESPONSIBILITY FOR ANY STATEMENT OR REPRESENTATION WHETHER WRITTEN, ORAL OR IMPLIED OR WHETHER CONTAINED IN ANY ADVERTISEMENT PARTICULARS OR OTHER MATTERS ISSUED OR ANY CORRESPONDENCE ENTERED INTO BY THEM AND WHETHER MADE IN ANY ANTECEDENT PRESENT OR SUBSEQUENT ENQUIRIES OR NEGOTIATIONS. NEITHER TUDOR TOONE LLP NOR THEIR PRINCIPALS, MEMBERS, AGENTS, SERVANTS OR REPRESENTATIVES HAVE ANY AUTHORITY WHATSOEVER TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATSOEVER WHETHER WRITTEN OR IMPLIED IN RELATION TO THIS PROPERTY. ANY INTENDING PURCHASER MUST SATISFY HIMSELF BY INSPECTION OR OTHERWISE AS TO THE CORRECTNESS OF ANY ANTECEDENT PRESENT OR SUBSEQUENT STATEMENTS OR REPRESENTATIONS, AND SHOULD NOT RELY UPON THE SAME UNLESS HE HAS SATISFIED HIMSELF ACCORDINGLY. UNLESS OTHERWISE STATED ALL PRICES AND RENTS ARE QUOTED EXCLUSIVE OF VALUE ADDED TAX (VAT). ANY INTENDING PURCHASERS OR LESSEES MUST SATISFY THEMSELVES INDEPENDENTLY AS TO THE INCIDENCE OF VAT IN RESPECT OF ANY TRANSACTION. SUBJECT TO CONTRACT & EXCLUSIVE OF VAT TUDOR TOONE LLP IS A LIMITED LIABILITY PARTNERSHIP REGISTERED IN ENGLAND AND WALES WITH REGISTERED NUMBER OC 305 411. REGISTERED OFFICE: 41/43 MADDOX STREET LONDON W1S 2PD. DETAILS PREPARED SEPTEMBER 2010