Xchanging Block C, Fulwood Park, Caxton Road, Fulwood, Preston PR2 9NZ

Xchanging Block C, Fulwood Park, Caxton Road, Fulwood, Preston PR2 9NZ

Investment Summary Out of town office Investment Modern 2 storey office, built in 2002 10,703 sq ft (53 car parking spaces) Let to Xchanging HR Services Limited, guaranteed by Xchange BV 15 year lease wef 29th September 2002, expiring 29th September 2017 Rolling 6 monthly tenant break options 145,000 per annum ( 13.55 psf) 850,000 (Subject to Contract) 16.12% Net Initial Yield ( 84 psf)

Preston is the principal commercial and administrative centre for the county of Lancashire and the third largest city in the North West of England, after Manchester and Liverpool. FULWOOD PARK Preston Preston is the principal commercial and administrative centre for the county of Lancashire and the third largest city in the North West of England, after Manchester and Liverpool. The city is located approximately 27miles north west of Manchester, 27 miles north east of Liverpool and 191 miles north west of London. Preston serves an urban area population of approximately 265,000, rising to 642,500 within 12.5 miles of the city centre. Preston was founded on a strong industrial heritage based on the textile and engineering industry, which gradually developed into a strong manufacturing based local economy. Although manufacturing remains an important driver behind the Preston economy, the town now has a much wider and sustainable economic base, with strong service sector representation now supplementing the traditional industries. Preston was awarded City status in April 2002. Preston benefits from an excellent transport infrastructure, with the M6, M61, M65 and M55 motorways all within 4 miles of the city centre and linking directly into the national motorway network. In addition, Preston railway station is located on the Virgin West Coast main line and provides a frequent, direct service to London Euston (fastest journey time 2 hours 9 minutes); Edinburgh (2 hours 29 minutes) and Manchester Piccadilly (40 minutes). SAT NAV PR2 9NZ

Xchanging, Block C, Fulwood Park, Ca xton Road, Fulwood, Preston PR2 9NZ Description FULWOOD PARK The property comprises of a detached two storey office building extending to 10,703 sq ft (ground floor - 5,125 sq ft / first floor 5,578 sq ft). The Building is of steel portal frame construction with brick elevations under a pitched tiled roof. Block C occupies an extensively landscaped site laid out to provide 54 car parking spaces, 48 in a secure car parking area to the rear of the property and a further 6 to the front of reception (1:198 cps). Internally the property provides clear open plan office accommodation benefitting from perimeter trunking, suspended ceilings with inset Category II lighting, air conditioning, double height reception and lift access. Situation The property is situated within Fulwood Business Park which forms part of the popular North Preston Employment Area. Fulwood Business Park is a 100,000 sq ft scheme that was developed speculatively in 2000 by Carebuild. The units were either prelet or let rapidly on completion. Corporate occupiers on the park include the following:

To Blackpool M55 To Lancaster & The North 32 Miles Minutes To Jct 31A M6 2.5 7 To Jct 32 M6 2.0 7 Haighton Green Lane D Urton Lane Olivers Place M6 To M6 J31a, Bolton, Manchester, Liverpool & The South To Jct 32 M6 Caxton Road Pittman Way Eastway Pittman Way Route to Motorway Junctions To Preston & Jct31a M6

Tenancy The property is let to Xchanging HR Services Limited (company number: 04071566), with a guarantee from Xchange BV, for a term of 15 years with effect from 29th September 2002, expiring 28th September 2017. The current passing rent of 145,000 per annum, equates to 13.55 psf. The tenant has the option to determine the lease giving 6 months written notice. The tenant has been in occupation since 2002. EPC Tenure Freehold (edged red). The property forms part of a managed estate (edged blue) with a service charge of 9,604 per annum ( 0.90 psf). The owner is demised 54 car parking spaces within the area (edged green).

Covenant Status Xchanging Plc is a company which provides business processing, technology and procurement services, outsourcing, infrastructure including network managed services, software products and application management. Xchanging operates from 43 countries worldwide, employs over 8,000 people, and is listed on the London Stock Exchange. Xchanging HR Services Limited was founded in 2002 as a joint venture between Xchanging Plc and BAE Systems, outsourcing BAE s Human Resources function. The adjoining building is home to the BAE Systems worldwide HR team and the subject property is home to the multi company procurement teams. Xchanging operates from 43 countries worldwide, employs over 8,000 people, and is listed on the London Stock Exchange. Xchanging HR Services Limited (Company Number: 04071566) reported the following financial results over the last three accounting years: Financial Year 31st December 2012 31st December 2011 31st December 2010 Turnover 23,345,000 24,523,000 30,787,000 Pre Tax Profits 1,231,000 ( 23,000) 824,000 Total Shareholder Fund 3,085,000 2,197,000 2,432,000 No financial information is available for the parent company guarantee, Xchange BV, as they are registered in Holland. Further information is available at www.xchanging.com VAT VAT will be payable on the purchase price. It is anticipated that the sale will be dealt with as a transfer of a going concern. Proposal Our client is seeking offers in excess of 850,000 for their freehold interest. A purchase at this level reflects a 16.12% net initial yield and just 84 psf, after deducting normal purchase costs at 5.8%.

For further information or to arrange an inspection, please contact: Mark Powell Tel: 07825 077724 Email: mp@christopherdee.co.uk Alex Perratt Tel: 07588 538848 Email: ap@christopherdee.co.uk Christopher Dee 40 Peter Street Manchester M2 5GP MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained here in is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. Christopher Dee nor any of its employees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Rents quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable or fulfilling its intended function. Prospective tenants/ purchasers should satisfy themselves as to the fitness of such equipment for their requirements. Designed and Produced by Ask 0161 976 1836. September 2013.