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F E B R U A R Y 2 0 0 8 E D I T I O NUK Commercial Property Investment Transactions 1 Jan 2008 - 31 Jan 2008

73Number

£1,481mValue of Sales

SECTOR LISTING........................................ 2

GEOGRAPHICAL LISTING...........................5

BUYERS & SELLERS LISTING....................9

THREE MONTH YIELD INDEX...................12

ACTIVE PROPERTY INVESTORS.............14

INVESTMENT STATISTICS.......................18

The monthly bulletin is available in hardcopy and PDF formats for £395.00 pa (12 issues).

The next edition of the bulletin will be published on Monday 3rd March 2008.

This report is intended for general information and is based upon material in our possession or supplied to us, which we believe to be reliable. Whilst every effort has been made to ensure its accuracy and completeness we cannot offer any warranty that factual errors may not have occurred.

For further information please visit our website: www.propertydata.com or call 01785 859300

Copyright (c) 2008. Property Data Ltd.

CONTENTS

2,8292,655

3,633

3,161

1,481

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2004 2005 2006 2007 2008

Tran

sact

ion V

olum

e £

m

Office Retail Industrial Leisure Other Total

Total Value of UK Investment Transactions (Year to Date January 2008)

Year to Date (Jan - Jan)

41660-619

376182194

21830188

725205520

Purchases £mSales £mNet Investment £m

1 Jan 2008 - 31 Jan 2008

Year-to-Date Investor Breakdown

Institutions Property Co's Private Investor Overseas120404-284

Other

6771,631-954

345663-318

60192-132

217591-374Difference £m

1 Jan 2008 - 31 Jan 2008

Year-to-Date Sector Breakdown

Office Retail Industrial Leisure1828498

Other2008 £m2007 £m

The Property Investors Bulletin - February 2008 Edition

January 2008 Investment Transactions by Sector

West End OfficesPURCHASERTOWN ADDRESS PRICE YIELD NOTES

Grosvenor Ltd50 Brook StreetLONDON W1 £ 3.6m - 279m² - Long leaseholdCauseway Investments52 Brooks MewsLONDON W1 £ 3.7m 4.09% 379m² - 118 year long leasehold interestMitsui Fudosan (U.K.) Ltd5 Hanover SquareLONDON W1 £ 57m - 7 floor building - redevelopment planned

£64mTotal value of recorded deals:

City OfficesPURCHASERTOWN ADDRESS PRICE YIELD NOTES

Structadene Group (JV)75 Farringdon RoadLONDON EC1 £ 9m 6.74% 2,118m² T:variousCandar Finance SARL78 Cannon StreetLONDON EC4 £ 110m - 38,739m² - Equity funding for office schemePrivate investor167-170 Fleet StreetLONDON EC4 £ 17.45m 5.35% 2,391m² T:variousNorthern Irish investor16 Old BaileyLONDON EC4 £ 78m 4.85% 7,804m² T:WithersZijajLondon BridgeLONDON SE1 £ 30m - 33% stake in Shard of Glass + New London Bridge House


Mid-Town OfficesPURCHASERTOWN ADDRESS PRICE YIELD NOTES

Royal College Paediatrics5-11 Theobalds RoadLONDON WC1 £ 17.45m - 1,951m² £17mTotal value of recorded deals:

Outer London OfficesPURCHASERTOWN ADDRESS PRICE YIELD NOTES

Quinlan PrivatePaddingtonCentralLONDON W2 £ 100m - 2 Kingdom St: 23,411m² - Funding 50% stake£100mTotal value of recorded deals:

Regional OfficesPURCHASERTOWN ADDRESS PRICE YIELD NOTES

Hill Road Properties LtdBell Business ParkAYLESBURY £ 4.9m 6.6% 3,019m²Irish clientsDonegall Square WestBELFAST £ 21m 3.75% 6,689m² grade-II listed buildingHelmsley Securities LtdEvolution Wynyard ParkBILLINGHAM £ 1.275m 7.39% 713m² R:£99,840 T:Tilly Bailey & Irvine LLP LL:10Highcross Fund35 Livery StreetBIRMINGHAM £ 10.5m - Berwick House: 5,620m² (£2.5m refurb planned)Unknown154/155 Edward StreetBRIGHTON £ 4.9m 6% T:American ExpressUniversity of WarwickWarwick Science ParkCOVENTRY £ 4.05m - 2,809m² Mole Vally Housing AssocRegent HouseDORKING £ 7.25m 6% 2,019m² T:Lafarge, Friends Provident LEX:12/2009Avanta LtdHanover StreetEDINBURGH £ 1.85m - 818m² Stockland Halladale3-8 St Andrew SquareEDINBURGH £ 21.25m - Former Scottish Provident HQ - Development plannedUnknownNorfolk HouseFARNHAM COMMON £ 1.5m 7% T:ISS MedicleanHighcross FundCloth Hall CourtLEEDS £ 18.75m - 5,946m² T:vacant (£9.4m extension + refub)Three60 Property Inv Ltd57 Tithebarn StreetLIVERPOOL £ 2.76m 6% 1,604m² CS Euroreal3 Hardman SquareMANCHESTER £ 95.25m 5.36% 16,722m² T:Halliwells LEX:2031 RR:Fixed upliftHighcross FundIntl Office CentreMANCHESTER £ 16.5m - International Office Centre: 8,640m² (refurb planned)Unknownng2, The TriangleNOTTINGHAM £ 1.727m 6.4% 573m² R:£117,268 T:Staffline Recruitment Ltd LL:10UnknownShrivenham Hundred BPSHRIVENHAM £ 0.19m 8% 181m² R:£15,000 T:Catalus LL:5Wrenbridge LandDoxford InternationalSUNDERLAND £ 15.5m 8.3% 10,421m² R:£1,350,000 T:EDF Energy LEX:2020 TBOIVG UK LtdMeridien HouseWATFORD £ 18.26m 6.07% 5,574m² T:various (50% to government)


Unit ShopsPURCHASERTOWN ADDRESS PRICE YIELD NOTES

Hail Investments Ltd26-30 London RoadBOGNOR REGIS £ 1.53m 6% 224m² R:£97,000 T:DSG Retail, C&J Clark LL:3 + 8Private Danish client79/105 DeansgateBOLTON £ 7.65m - 7,008m² T:JE Beale Plc LEX:11/2029Private investor42-48 Northgate StreetCHESTER £ 8m 5% T:Oasis, Vision ExpressCrescent TrusteesSouth StreetDORCHESTER £ 4.15m 4.9% R:£214,500 T:Starbucks, Laura Ashley, McKaysLocal Shopping REIT Plc96a-d RidgewayPLYMPTON £ 0.7m 7% 4 retail units R:£51,350 - Long leasehold interestPrivate clientSpeedy Hire PortfolioPORTFOLIO £ 17.481m - 68 Freehold and Leasehold trade counter unitsPrivate client54b High StreetSHAFTESBURY £ 0.435m 5.5% 127m² R:£25,000 T:British Heart Foundation LL:15London & AssociatedHigh Street & Mill LaneSOLIHULL £ 13.7m 5.4% Parade of 7 shops R:£788,500LaSalle Investment Man69-75 Above Bar StreetSOUTHAMPTON £ 13.25m 5.7% R:£798,350 T:Zavvi, Waterstones, BlacksAsschenfeldt Invest242/245 Oxford StreetSWANSEA £ 6.85m 5.52% 4,695m² T:Woolworths LEX:03/2026



Unit ShopsPURCHASERTOWN ADDRESS PRICE YIELD NOTES

Targetfollow Group PlcThe Pantiles/CommonsTUNBRIDGE WELLS £ 11m - Retail with potential to link to Corn ExchangePrivate investorAlderley RoadWILMSLOW £ 8.9m 5% Parade of 13 shop units T:various (12)


Shopping CentrePURCHASERTOWN ADDRESS PRICE YIELD NOTES

Everard GoodmanMarketgate CentreLANCASTER £ 31.5m 5.76% 9,290m² £32mTotal value of recorded deals:

Retail WarehousePURCHASERTOWN ADDRESS PRICE YIELD NOTES

LaSalle Investment ManWatling StreetBLETCHLEY £ 10.1m 5.57% 3,252m² R:£595,000 T:B&QResolution PropertyLANCASTER £ 27m 5.8% 10,869m² Propinvest Holdings LtdRetail Park PortfolioPORTFOLIO £ 100m - 3 retail parks - Charlton, Harlow, BirminghamLaSalle UK Ventures Fund (JV)Seymour PortfolioPORTFOLIO £ 36m 6% 12,077m² - 4 retail warehousesResolution PropertyGallows CornerROMFORD £ 47m 5.7% 10,656m² Resolution PropertyB&QSUNDERLAND - 5.75%


IndustrialPURCHASERTOWN ADDRESS PRICE YIELD NOTES

IM Properties PlcHams HallBIRMINGHAM £ 16m 7.33% 15,793m² T:Kuehne & Nagal, Bridisco LL:10-15Property & Investment ManBordon Trading EstateBORDON £ 1.725m 7.65% 2,988m² R:£140,000 T:Fern-Howard Ltd LL:7Sapcote DevelopmentsStirling WayBOREHAMWOOD £ 1.715m - 2,973m² PeriWarley FieldsBRENTWOOD £ 15m - 16-acre site - Office redevelopment plannedPrivate clientEast Midlands AirportCASTLE DONINGTON £ 0.715m - 65 Ambassador Road - Small industrial warehouseMutley PropertiesHouston Industrial EstateLIVINGSTON £ 2.45m 7.4% 3,949m² R:£191,300 T:Continental Tyre Group LL:6Amsprop Ltd (JV)Eaton Green RoadLUTON £ 5m - Vauxhall lorry park - redevelopment proposalsProperty Alliance GroupWhite Lund Trading EstateMORECAMBE £ 1.5m - 3,809m² S&L:Robert J Hall LL:10Federal Estates Ltd47 Caswell Rd BrackmillsNORTHAMPTON £ 6.4m - 9,058m² Property Alliance GroupGilwilly Ind EstatePENRITH £ 2m - 5,760m² S&L:Nilfisk-Advance (partial) LL:5UnknownMount Heath Ind EstatePRESTWICH £ 6.25m - 13,006m² - 9 units + development landFletcher Estates LtdSpring Road Ind EstateWOLVERHAMPTON £ 1.5m - Alpha One: 2,412m²


LeisurePURCHASERTOWN ADDRESS PRICE YIELD NOTES

Yianis GroupPark InnHEATHROW £ 150m - 881-bedroom hotelMoorfield REF LPDerwentwater HotelKESWICK - - 67-room - 3 star hotel (includes Derwent Manor)Private ClientRedcote LaneLEEDS £ 2.45m 5.9% 1,617m² R:£152,739 T:Fitness First LEX:11/2038 CPS:132Private family trust160-162 Victoria StreetLONDON SW1 £ 4.9m 3.5% R:£183,821 T:Ask RestaurantsHotelier familyMontcalm HotelLONDON W1 £ 35m - 120-bedroom hotel T:Nico LL:5Yianis GroupVictoria & Albert HotelMANCHESTER £ 25m - Marriott


ScottishPURCHASERTOWN ADDRESS PRICE YIELD NOTES

Private investor33a-35 George StreetEDINBURGH £ 21.24m 5.6% 4,626m² Shopping and office complex R:£1,260,000Avanta LtdHanover StreetEDINBURGH £ 1.85m - 818m² Stockland Halladale3-8 St Andrew SquareEDINBURGH £ 21.25m - Former Scottish Provident HQ - Development plannedMutley PropertiesHouston Industrial EstateLIVINGSTON £ 2.45m 7.4% 3,949m² R:£191,300 T:Continental Tyre Group LL:6


PortfolioPURCHASERTOWN ADDRESS PRICE YIELD NOTES

Propinvest Holdings LtdRetail Park PortfolioPORTFOLIO £ 100m - 3 retail parks - Charlton, Harlow, BirminghamLaSalle UK Ventures Fund (JV)Seymour PortfolioPORTFOLIO £ 36m 6% 12,077m² - 4 retail warehousesUnknownSouthern Cross PortfolioPORTFOLIO £ 22m - Four care homes S&L:Southern Cross Group Plc LL:30



PortfolioPURCHASERTOWN ADDRESS PRICE YIELD NOTES

Citrus Group (JV)Southern Cross PortfolioPORTFOLIO £ 95.5m - 15 care homes in north England S&L:Southern Cross LL:30Private clientSpeedy Hire PortfolioPORTFOLIO £ 17.481m - 68 Freehold and Leasehold trade counter units



Geographical Listing of UK Investment Transactions During January 2008COMMENT: A:Anchor L:Lease LEX:Lease Expiry LL:Lease Length R:Rent Per Annum RR:Rent Review SDEX:Stamp Duty Exempt T:Tenant TBO:Tenants Break Option

PRICE/NIY SECTOR COMMENTADDRESS PURCHASER(s) VENDOR(s)

Bell Business Park£4.9m6.6%

3,019m²Hill Road Properties Ltd (Gerald Eve) Status Property Group (DTZ)AYLESBURY BusinessPark

Donegall Square West£21m3.75%

6,689m² grade-II listed buildingIrish clients (BTWShiells) ING REIM UK Ltd ()BELFAST Office

Evolution Wynyard Park£1.275m7.39%

713m² R:£99,840 T:Tilly Bailey & Irvine LLP LL:10Helmsley Securities Ltd (Savills) Strategic Sites (Storey Sons & Parker / King Sturge)BILLINGHAM BusinessPark

Hams Hall£16m7.33%

15,793m² T:Kuehne & Nagal, Bridisco LL:10-15IM Properties Plc (Jones Lang LaSalle) Wrenbridge Land (M3)BIRMINGHAM DistributionWarehouse

35 Livery Street£10.5mn/a

Berwick House: 5,620m² (£2.5m refurb planned)Highcross Fund Boultbee Land BIRMINGHAM Office

Watling Street£10.1m5.57%

3,252m² R:£595,000 T:B&QLaSalle Investment Man (CB Richard Ellis) National Grid PF (AtisReal)BLETCHLEY RetailWarehouse

26-30 London Road£1.53m6%

224m² R:£97,000 T:DSG Retail, C&J Clark LL:3 + 8Hail Investments Ltd (Hughes Ellard) Undisclosed (Savills)BOGNOR REGIS Retail

79/105 Deansgate£7.65mn/a

7,008m² T:JE Beale Plc LEX:11/2029Private Danish client (GVA Grimley) Undisclosed BOLTON Retail

Bordon Trading Estate£1.725m7.65%

2,988m² R:£140,000 T:Fern-Howard Ltd LL:7Property & Investment Man (Philip Marsh Hardings Deung) Private client (Wadham & Isherwood)BORDON Industrial

Stirling Way£1.715mn/a

2,973m² Sapcote Developments (WL Commercial Ltd) Alumnesc (Brasier Harris)BOREHAMWOOD Industrial

Warley Fields£15mn/a

16-acre site - Office redevelopment plannedPeri (CB Richard Ellis) Salmon Harvester Property (DTZ / Kemsley Whiteley & Ferris)BRENTWOOD Industrial

154/155 Edward Street£4.9m6%

T:American ExpressUndisclosed (Eriera Mendoza & Co) Client (Barrs Freer-Smith)BRIGHTON Office

Orbital Way£0.92mn/a

2.2 acre plot for industrial/office schemeC H Shaw Properties St Modwen Plc (Andrew Dixon & Co)CANNOCK Mixed

East Midlands Airport£0.715mn/a

65 Ambassador Road - Small industrial warehousePrivate client Ryan Air (GVA Grimley)CASTLE DONINGTON Industrial

42-48 Northgate Street£8m5%

T:Oasis, Vision ExpressPrivate investor (Briant Champion Long) GE Real Estate (NB Real Estate)CHESTER Retail

Warwick Science Park£4.05mn/a

2,809m² University of Warwick (Gerald Eve) CBRE Investors (CB Richard Ellis)COVENTRY BusinessPark

South Street£4.15m4.9%

R:£214,500 T:Starbucks, Laura Ashley, McKaysCrescent Trustees (Bromilows) Target Blue (Kitchen La Frenais Morgan)DORCHESTER Retail

Regent House£7.25m6%

2,019m² T:Lafarge, Friends Provident LEX:12/2009Mole Vally Housing Assoc (Drivers Jonas) Valad Property Group (AtisReal)DORKING Office

33a-35 George Street£21.24m5.6%

4,626m² Shopping and office complex R:£1,260,000Private investor (Alan Watt & Co) Coal Pension Properties (DTZ)EDINBURGH Mixed

Hanover Street£1.85mn/a

818m² Avanta Ltd Fidra Investments EDINBURGH Office

3-8 St Andrew Square£21.25mn/a

Former Scottish Provident HQ - Development plannedStockland Halladale ING REIM UK Ltd (DTZ / Culverwell & Co)EDINBURGH Office




Norfolk House£1.5m7%

T:ISS MedicleanUndisclosed (Eriera Mendoza & Co) Private client (Eriera Mendoza & Co)FARNHAM COMMON Office

Park Inn£150mn/a

881-bedroom hotelYianis Group Royal Bank of Scotland HEATHROW Leisure

Derwentwater Hoteln/an/a

67-room - 3 star hotel (includes Derwent Manor)Moorfield REF LP Undisclosed KESWICK Leisure

£27m5.8%

10,869m² Resolution Property Resolution Asset Man LANCASTER RetailWarehouse

Marketgate Centre£31.5m5.76%

9,290m² Everard Goodman (Franc Warwick) Boultbee Land (Michael Elliott)LANCASTER ShoppingCentre

Cloth Hall Court£18.75mn/a

5,946m² T:vacant (£9.4m extension + refub)Highcross Fund (Grenville Smith Duncan) Princeton Investments Plc Patron Capital Partners

LEEDS Office

Redcote Lane£2.45m5.9%

1,617m² R:£152,739 T:Fitness First LEX:11/2038 CPS:132Private Client (GVA Grimley) Undisclosed LEEDS Leisure

57 Tithebarn Street£2.76m6%

1,604m² Three60 Property Inv Ltd (King Sturge) Private client LIVERPOOL Office

Houston Industrial Estate£2.45m7.4%

3,949m² R:£191,300 T:Continental Tyre Group LL:6Mutley Properties (James Barr & Son) PRUPIM (Montagu Evans)LIVINGSTON Industrial

75 Farringdon Road£9m6.74%

2,118m² T:variousStructadene Group (NB Real Estate)Private US investor (Richard Susskind & Co)

CBRE Investors (Ingleby Trice Kennard)LONDON EC1 Office

78 Cannon Street£110mn/a

38,739m² - Equity funding for office schemeCandar Finance SARL Hines UK LONDON EC4 Office

167-170 Fleet Street£17.45m5.35%

2,391m² T:variousPrivate investor (Ashwell Rogers) Henderson Property Fund (Godfrey Vaughan)LONDON EC4 Office

16 Old Bailey£78m4.85%

7,804m² T:WithersNorthern Irish investor Norwich Property Trust (King Sturge)LONDON EC4 Office

London Bridge£30mn/a

33% stake in Shard of Glass + New London Bridge HouseZijaj CLS Holdings Plc LONDON SE1 Office

160-162 Victoria Street£4.9m3.5%

R:£183,821 T:Ask RestaurantsPrivate family trust (Davis Coffer Lyons) Land Securities Plc LONDON SW1 Leisure

50 Brook Street£3.6mn/a

279m² - Long leaseholdGrosvenor Ltd (CB Richard Ellis) Private investor (Summit Property Advisors)LONDON W1 Office

52 Brooks Mews£3.7m4.09%

379m² - 118 year long leasehold interestCauseway Investments (CB Richard Ellis) Private investor (King Sturge)LONDON W1 Mixed

5 Hanover Square£57mn/a

7 floor building - redevelopment plannedMitsui Fudosan (U.K.) Ltd Japan Airlines Intl LONDON W1 Office

Montcalm Hotel£35mn/a

120-bedroom hotel T:Nico LL:5Hotelier family Bratan Properties (Savills)LONDON W1 Leisure

PaddingtonCentral£100mn/a

2 Kingdom St: 23,411m² - Funding 50% stakeQuinlan Private (King Sturge) Morley Fund Management (CB Richard Ellis)LONDON W2 Office

5-11 Theobalds Road£17.45mn/a

1,951m² Royal College Paediatrics Valad Property Group LONDON WC1 Office




Eaton Green Road£5mn/a

Vauxhall lorry park - redevelopment proposalsAmsprop Ltd Turnstone Estates

General Motors (Jones Lang LaSalle)LUTON Industrial

3 Hardman Square£95.25m5.36%

16,722m² T:Halliwells LEX:2031 RR:Fixed upliftCS Euroreal (Tudor Toone) Norwich Property Trust (King Sturge)MANCHESTER Office

Intl Office Centre£16.5mn/a

International Office Centre: 8,640m² (refurb planned)Highcross Fund (Grenville Smith Duncan) BAe Pension Fund Trustees (WHR Property Consultants)MANCHESTER Office

76 King Street£15.53mn/a

3,837m² - 2 retail units T:DKNY, Belstaff + officesUK Land & Property (Jones Lang LaSalle) Scottish Widows (Savills)MANCHESTER Mixed

Victoria & Albert Hotel£25mn/a

MarriottYianis Group Royal Bank of Scotland MANCHESTER Leisure

White Lund Trading Estate£1.5mn/a

3,809m² S&L:Robert J Hall LL:10Property Alliance Group Robert J Hall MORECAMBE Industrial

47 Caswell Rd Brackmills£6.4mn/a

9,058m² Federal Estates Ltd Royal Mail Pension Fund (King Sturge)NORTHAMPTON Industrial

ng2, The Triangle£1.727m6.4%

573m² R:£117,268 T:Staffline Recruitment Ltd LL:10Undisclosed (Nattrass Giles) Undisclosed (Fisher Hargreaves Proctor)NOTTINGHAM BusinessPark

Gilwilly Ind Estate£2mn/a

5,760m² S&L:Nilfisk-Advance (partial) LL:5Property Alliance Group Nilfisk-Advance PENRITH Industrial

96a-d Ridgeway£0.7m7%

4 retail units R:£51,350 - Long leasehold interestLocal Shopping REIT Plc (Monk & Partners) Private investor PLYMPTON Retail

Retail Park Portfolio£100mn/a

3 retail parks - Charlton, Harlow, BirminghamPropinvest Holdings Ltd (Franc Warwick) Morley Fund Management (Joiner Cummings)PORTFOLIO RetailWarehouse

Seymour Portfolio£36m6%

12,077m² - 4 retail warehousesLaSalle UK Ventures Fund (Lewis & Partners)Tony Khalastchi

British Land Plc (Savills)PORTFOLIO RetailWarehouse

Southern Cross Portfolio£22mn/a

Four care homes S&L:Southern Cross Group Plc LL:30Undisclosed Southern Cross Group Plc PORTFOLIO Misc.

Southern Cross Portfolio£95.5mn/a

15 care homes in north England S&L:Southern Cross LL:30Citrus Group Apollo Real Estate

Southern Cross Group Plc PORTFOLIO Misc.

Speedy Hire Portfolio£17.481mn/a

68 Freehold and Leasehold trade counter unitsPrivate client (Capital Retail) Speedy Hire Plc (NB Real Estate)PORTFOLIO Retail

Mount Heath Ind Estate£6.25mn/a

13,006m² - 9 units + development landUndisclosed Townson Estates (King Sturge)PRESTWICH Industrial

Gallows Corner£47m5.7%

10,656m² Resolution Property (Harvey Spack Field) Standard Life (Edgerley Simpson Howe & Partners)ROMFORD RetailWarehouse

54b High Street£0.435m5.5%

127m² R:£25,000 T:British Heart Foundation LL:15Private client (Clive Thomas & Co) Undisclosed (Rowley Hughes Thompson)SHAFTESBURY Retail

St Pauls Place£21.55mn/a

520-space multi-storey car park T:Q-Park + leisureHanson Capital Management (Charles Matthews) CTP Ltd (GVA Grimley)St James Securities (Knight Frank)

SHEFFIELD Mixed

Shrivenham Hundred BP£0.19m8%

181m² R:£15,000 T:Catalus LL:5Undisclosed Undisclosed (Loveday & Loveday)SHRIVENHAM BusinessPark

High Street & Mill Lane£13.7m5.4%

Parade of 7 shops R:£788,500London & Associated (Lewis & Partners) Standard Life SOLIHULL Retail




69-75 Above Bar Street£13.25m5.7%

R:£798,350 T:Zavvi, Waterstones, BlacksLaSalle Investment Man (Tudor Toone) National Grid PF (AtisReal)SOUTHAMPTON Retail

16 Queen Street£5m7.25%

Retail T:Waterstones + offices behind 27 Hill StreetPrivate investor Undisclosed ST HELIER, JERSEY Mixed

B&Qn/a5.75%

Resolution Property Standard Life SUNDERLAND RetailWarehouse

Doxford International£15.5m8.3%

10,421m² R:£1,350,000 T:EDF Energy LEX:2020 TBOWrenbridge Land (Drivers Jonas) Norwich Property Trust (GVA Grimley)SUNDERLAND BusinessPark

242/245 Oxford Street£6.85m5.52%

4,695m² T:Woolworths LEX:03/2026Asschenfeldt Invest (GVA Grimley) Goodman Investors (NB Real Estate)SWANSEA Retail

The Pantiles/Commons£11mn/a

Retail with potential to link to Corn ExchangeTargetfollow Group Plc (DTZ) Manor of Rusthall (CB Richard Ellis)TUNBRIDGE WELLS Retail

Meridien House£18.26m6.07%

5,574m² T:various (50% to government)IVG UK Ltd (Jones Lang LaSalle) CBRE Investors WATFORD Office

Alderley Road£8.9m5%

Parade of 13 shop units T:various (12)Private investor GE Real Estate (NB Real Estate / Christopher Dee)WILMSLOW Retail

Spring Road Ind Estate£1.5mn/a

Alpha One: 2,412m²Fletcher Estates Ltd R C Developments Ltd (Towler Shaw Roberts Ltd)WOLVERHAMPTON Industrial


Buyers & Sellers During January 2008

InstitutionsCOMPANY TOWN STREETB/S SECTOR YIELDPRICE

SELL MANCHESTERBAe Pension Fund Trustees Intl Office Centre £16.5m N/AOfficeSELL COVENTRYCBRE Investors Warwick Science Park £4.05m N/ABusiness ParkSELL LONDON EC1CBRE Investors 75 Farringdon Road £9m 6.74%OfficeSELL WATFORDCBRE Investors Meridien House £18.26m 6.07%OfficeSELL EDINBURGHCoal Pension Properties 33a-35 George Street £21.24m 5.6%MixedSELL SWANSEAGoodman Investors 242/245 Oxford Street £6.85m 5.52%RetailSELL LONDON EC4Henderson Property Fund 167-170 Fleet Street £17.45m 5.35%OfficeSELL BELFASTING REIM UK Ltd Donegall Square West £21m 3.75%OfficeSELL EDINBURGHING REIM UK Ltd 3-8 St Andrew Square £21.25m N/AOfficeBUY BLETCHLEYLaSalle Investment Man Watling Street £10.1m 5.57%Retail WarehouseBUY SOUTHAMPTONLaSalle Investment Man 69-75 Above Bar Street £13.25m 5.7%RetailBUY PORTFOLIOLaSalle UK Ventures Fund (JV) Seymour Portfolio £36m 6%Retail WarehouseSELL LONDON W2Morley Fund Management PaddingtonCentral £100m N/AOfficeSELL PORTFOLIOMorley Fund Management Retail Park Portfolio £100m N/ARetail WarehouseSELL BLETCHLEYNational Grid PF Watling Street £10.1m 5.57%Retail WarehouseSELL SOUTHAMPTONNational Grid PF 69-75 Above Bar Street £13.25m 5.7%RetailSELL LONDON EC4Norwich Property Trust 16 Old Bailey £78m 4.85%OfficeSELL MANCHESTERNorwich Property Trust 3 Hardman Square £95.25m 5.36%OfficeSELL SUNDERLANDNorwich Property Trust Doxford International £15.5m 8.3%Business ParkSELL LIVINGSTONPRUPIM Houston Industrial Estate £2.45m 7.4%IndustrialSELL LANCASTERResolution Asset Man £27m 5.8%Retail WarehouseSELL NORTHAMPTONRoyal Mail Pension Fund 47 Caswell Rd Brackmills £6.4m N/AIndustrialSELL MANCHESTERScottish Widows 76 King Street £15.53m N/AMixedSELL ROMFORDStandard Life Gallows Corner £47m 5.7%Retail WarehouseSELL SOLIHULLStandard Life High Street & Mill Lane £13.7m 5.4%RetailSELL SUNDERLANDStandard Life B&Q N/A 5.75%Retail Warehouse

Property CompaniesCOMPANY TOWN STREETB/S SECTOR YIELDPRICE

BUY LUTONAmsprop Ltd (JV) Eaton Green Road £5m N/AIndustrialBUY EDINBURGHAvanta Ltd Hanover Street £1.85m N/AOfficeSELL BIRMINGHAMBoultbee Land 35 Livery Street £10.5m N/AOfficeSELL LANCASTERBoultbee Land Marketgate Centre £31.5m 5.76%Shopping CentreSELL PORTFOLIOBritish Land Plc Seymour Portfolio £36m 6%Retail WarehouseBUY CANNOCKC H Shaw Properties Orbital Way £0.92m N/AMixedBUY PORTFOLIOCitrus Group (JV) Southern Cross Portfolio £95.5m N/AMisc.SELL LONDON SE1CLS Holdings Plc London Bridge £30m N/AOfficeSELL SHEFFIELDCTP Ltd (JV) St Pauls Place £21.55m N/AMixedSELL EDINBURGHFidra Investments Hanover Street £1.85m N/AOfficeBUY WOLVERHAMPTONFletcher Estates Ltd Spring Road Ind Estate £1.5m N/AIndustrialBUY LONDON W1Grosvenor Ltd 50 Brook Street £3.6m N/AOfficeBUY BOGNOR REGISHail Investments Ltd 26-30 London Road £1.53m 6%RetailBUY SHEFFIELDHanson Capital Management St Pauls Place £21.55m N/AMixedBUY BILLINGHAMHelmsley Securities Ltd Evolution Wynyard Park £1.275m 7.39%Business ParkBUY AYLESBURYHill Road Properties Ltd Bell Business Park £4.9m 6.6%Business ParkBUY BIRMINGHAMIM Properties Plc Hams Hall £16m 7.33%Distribution WarehouseSELL LONDON SW1Land Securities Plc 160-162 Victoria Street £4.9m 3.5%LeisureBUY PLYMPTONLocal Shopping REIT Plc 96a-d Ridgeway £0.7m 7%RetailBUY SOLIHULLLondon & Associated High Street & Mill Lane £13.7m 5.4%RetailBUY LIVINGSTONMutley Properties Houston Industrial Estate £2.45m 7.4%IndustrialBUY BORDONProperty & Investment Man Bordon Trading Estate £1.725m 7.65%IndustrialBUY MORECAMBEProperty Alliance Group White Lund Trading Estate £1.5m N/AIndustrialBUY PENRITHProperty Alliance Group Gilwilly Ind Estate £2m N/AIndustrial



Property CompaniesCOMPANY TOWN STREETB/S SECTOR YIELDPRICE

BUY PORTFOLIOPropinvest Holdings Ltd Retail Park Portfolio £100m N/ARetail WarehouseSELL WOLVERHAMPTONR C Developments Ltd Spring Road Ind Estate £1.5m N/AIndustrialBUY LANCASTERResolution Property £27m 5.8%Retail WarehouseBUY ROMFORDResolution Property Gallows Corner £47m 5.7%Retail WarehouseBUY SUNDERLANDResolution Property B&Q N/A 5.75%Retail WarehouseSELL BRENTWOODSalmon Harvester Property Warley Fields £15m N/AIndustrialBUY BOREHAMWOODSapcote Developments Stirling Way £1.715m N/AIndustrialSELL SHEFFIELDSt James Securities (JV) St Pauls Place £21.55m N/AMixedSELL CANNOCKSt Modwen Plc Orbital Way £0.92m N/AMixedSELL AYLESBURYStatus Property Group Bell Business Park £4.9m 6.6%Business ParkBUY EDINBURGHStockland Halladale 3-8 St Andrew Square £21.25m N/AOfficeSELL BILLINGHAMStrategic Sites Evolution Wynyard Park £1.275m 7.39%Business ParkBUY LONDON EC1Structadene Group (JV) 75 Farringdon Road £9m 6.74%OfficeBUY TUNBRIDGE WELLSTargetfollow Group Plc The Pantiles/Commons £11m N/ARetailBUY LIVERPOOLThree60 Property Inv Ltd 57 Tithebarn Street £2.76m 6%OfficeSELL PRESTWICHTownson Estates Mount Heath Ind Estate £6.25m N/AIndustrialBUY LUTONTurnstone Estates (JV) Eaton Green Road £5m N/AIndustrialBUY MANCHESTERUK Land & Property 76 King Street £15.53m N/AMixedSELL BIRMINGHAMWrenbridge Land Hams Hall £16m 7.33%Distribution WarehouseBUY SUNDERLANDWrenbridge Land Doxford International £15.5m 8.3%Business Park

Overseas InvestorsCOMPANY TOWN STREETB/S SECTOR YIELDPRICE

BUY PORTFOLIOApollo Real Estate (JV) Southern Cross Portfolio £95.5m N/AMisc.BUY SWANSEAAsschenfeldt Invest 242/245 Oxford Street £6.85m 5.52%RetailSELL LONDON W1Bratan Properties Montcalm Hotel £35m N/ALeisureBUY LONDON EC4Candar Finance SARL 78 Cannon Street £110m N/AOfficeBUY MANCHESTERCS Euroreal 3 Hardman Square £95.25m 5.36%OfficeBUY NORTHAMPTONFederal Estates Ltd 47 Caswell Rd Brackmills £6.4m N/AIndustrialSELL CHESTERGE Real Estate 42-48 Northgate Street £8m 5%RetailSELL WILMSLOWGE Real Estate Alderley Road £8.9m 5%RetailBUY BIRMINGHAMHighcross Fund 35 Livery Street £10.5m N/AOfficeBUY LEEDSHighcross Fund Cloth Hall Court £18.75m N/AOfficeBUY MANCHESTERHighcross Fund Intl Office Centre £16.5m N/AOfficeSELL LONDON EC4Hines UK 78 Cannon Street £110m N/AOfficeBUY BELFASTIrish clients Donegall Square West £21m 3.75%OfficeBUY WATFORDIVG UK Ltd Meridien House £18.26m 6.07%OfficeBUY LONDON W1Mitsui Fudosan (U.K.) Ltd 5 Hanover Square £57m N/AOfficeBUY KESWICKMoorfield REF LP Derwentwater Hotel N/A N/ALeisureSELL LEEDSPatron Capital Partners (JV) Cloth Hall Court £18.75m N/AOfficeSELL LEEDSPrinceton Investments Plc (JV) Cloth Hall Court £18.75m N/AOfficeBUY BOLTONPrivate Danish client 79/105 Deansgate £7.65m N/ARetailBUY LONDON EC1Private US investor (JV) 75 Farringdon Road £9m 6.74%OfficeBUY LONDON W2Quinlan Private PaddingtonCentral £100m N/AOfficeSELL DORKINGValad Property Group Regent House £7.25m 6%OfficeSELL LONDON WC1Valad Property Group 5-11 Theobalds Road £17.45m N/AOfficeBUY HEATHROWYianis Group Park Inn £150m N/ALeisureBUY MANCHESTERYianis Group Victoria & Albert Hotel £25m N/ALeisureBUY LONDON SE1Zijaj London Bridge £30m N/AOffice

Private Investors / Syndicates / TrustsCOMPANY TOWN STREETB/S SECTOR YIELDPRICE

SELL BRIGHTONClient 154/155 Edward Street £4.9m 6%Office



Private Investors / Syndicates / TrustsCOMPANY TOWN STREETB/S SECTOR YIELDPRICE

BUY DORCHESTERCrescent Trustees South Street £4.15m 4.9%RetailBUY LANCASTEREverard Goodman Marketgate Centre £31.5m 5.76%Shopping CentreSELL TUNBRIDGE WELLSManor of Rusthall The Pantiles/Commons £11m N/ARetailBUY LONDON EC4Northern Irish investor 16 Old Bailey £78m 4.85%OfficeSELL BORDONPrivate client Bordon Trading Estate £1.725m 7.65%IndustrialBUY CASTLE DONINGTONPrivate client East Midlands Airport £0.715m N/AIndustrialSELL FARNHAM COMMONPrivate client Norfolk House £1.5m 7%OfficeBUY LEEDSPrivate Client Redcote Lane £2.45m 5.9%LeisureSELL LIVERPOOLPrivate client 57 Tithebarn Street £2.76m 6%OfficeBUY PORTFOLIOPrivate client Speedy Hire Portfolio £17.481m N/ARetailBUY SHAFTESBURYPrivate client 54b High Street £0.435m 5.5%RetailBUY LONDON SW1Private family trust 160-162 Victoria Street £4.9m 3.5%LeisureBUY CHESTERPrivate investor 42-48 Northgate Street £8m 5%RetailBUY EDINBURGHPrivate investor 33a-35 George Street £21.24m 5.6%MixedBUY LONDON EC4Private investor 167-170 Fleet Street £17.45m 5.35%OfficeSELL LONDON W1Private investor 50 Brook Street £3.6m N/AOfficeSELL LONDON W1Private investor 52 Brooks Mews £3.7m 4.09%MixedSELL PLYMPTONPrivate investor 96a-d Ridgeway £0.7m 7%RetailBUY ST HELIER, JERSEYPrivate investor 16 Queen Street £5m 7.25%MixedBUY WILMSLOWPrivate investor Alderley Road £8.9m 5%RetailBUY PORTFOLIOTony Khalastchi (JV) Seymour Portfolio £36m 6%Retail Warehouse

OccupiersCOMPANY TOWN STREETB/S SECTOR YIELDPRICE

SELL BOREHAMWOODAlumnesc Stirling Way £1.715m N/AIndustrialSELL LUTONGeneral Motors Eaton Green Road £5m N/AIndustrialBUY LONDON W1Hotelier family Montcalm Hotel £35m N/ALeisureSELL LONDON W1Japan Airlines Intl 5 Hanover Square £57m N/AOfficeBUY DORKINGMole Vally Housing Assoc Regent House £7.25m 6%OfficeSELL PENRITHNilfisk-Advance Gilwilly Ind Estate £2m N/AIndustrialBUY BRENTWOODPeri Warley Fields £15m N/AIndustrialSELL MORECAMBERobert J Hall White Lund Trading Estate £1.5m N/AIndustrialBUY LONDON WC1Royal College Paediatrics 5-11 Theobalds Road £17.45m N/AOfficeSELL CASTLE DONINGTONRyan Air East Midlands Airport £0.715m N/AIndustrialSELL PORTFOLIOSouthern Cross Group Plc Southern Cross Portfolio £95.5m N/AMisc.SELL PORTFOLIOSouthern Cross Group Plc Southern Cross Portfolio £22m N/AMisc.SELL PORTFOLIOSpeedy Hire Plc Speedy Hire Portfolio £17.481m N/ARetailBUY COVENTRYUniversity of Warwick Warwick Science Park £4.05m N/ABusiness Park

Financial/BanksCOMPANY TOWN STREETB/S SECTOR YIELDPRICE

SELL HEATHROWRoyal Bank of Scotland Park Inn £150m N/ALeisureSELL MANCHESTERRoyal Bank of Scotland Victoria & Albert Hotel £25m N/ALeisure


Three Month Yield Index

West End OfficesDATETOWN ADDRESS PRICE YIELD

Dec 200713 Stratford PlaceLONDON W1 £ 5m 2.90%Dec 200759-60 Grosvenor StreetLONDON W1 £ 23.4m 4.13%Dec 20076/8a Sackville StreetLONDON W1 £ 16.1m 4.40%Dec 200710/18 Victoria StreetLONDON SW1 £ 175.85m 4.87%Dec 200729/30 St James StreetLONDON SW1 £ 20m 5.04%Dec 200710 Stratton StreetLONDON W1 £ 48.5m 5.19%Dec 200748-50 Broadwick StreetLONDON W1 £ 17.38m 5.25%Dec 200715 Suffolk StreetLONDON SW1 £ 27m 6.25%

Weighted Average Net Initial Yield: 4.95%

City OfficesDATETOWN ADDRESS PRICE YIELD

Dec 20071-5 Portpool LaneLONDON EC1 £ 3.15m 3.70%Nov 200729 Throgmorton StreetLONDON EC2 £ 17.5m 4.50%Nov 2007Thomas More SquareLONDON E1 £ 131.5m 4.60%Jan 200816 Old BaileyLONDON EC4 £ 78m 4.85%Nov 2007120 Old Broad StreetLONDON EC2 £ 27.5m 5.30%Dec 2007100 Ludgate HillLONDON EC4 £ 43.5m 5.30%Dec 20074-15 St Pauls ChurchyardLONDON EC4 £ 115m 5.30%Jan 2008167-170 Fleet StreetLONDON EC4 £ 17.45m 5.35%Dec 200710 Queen Street PlaceLONDON EC4 £ 145m 5.75%Dec 200736-37 Old JewryLONDON EC2 £ 18.65m 6.00%Jan 200875 Farringdon RoadLONDON EC1 £ 9m 6.74%Dec 200780 Cannon StreetLONDON EC4 £ 30m 7.09%


Mid-Town OfficesDATETOWN ADDRESS PRICE YIELD

Nov 200724 Lincolns Inn FieldsLONDON WC2 £ 3.8m 3.36%Dec 200727a Floral StreetLONDON WC2 £ 20.5m 4.27%Dec 200727-28 Lincolns Inn FieldLONDON WC2 £ 8.75m 4.32%Dec 2007168-173 High HolbornLONDON WC1 £ 34m 5.75%


Regional OfficesDATETOWN ADDRESS PRICE YIELD

Nov 2007Amber & Regency HouseBRACKNELL £ 7.5m 3.15%Jan 2008Donegall Square WestBELFAST £ 21m 3.75%Nov 2007Cobalt Business ParkNEWCASTLE-UPON-T £ 77.469m 4.19%Nov 200788 Princes StreetEDINBURGH £ 6.7m 5.15%Jan 20083 Hardman SquareMANCHESTER £ 95.25m 5.36%Nov 2007Grove Hill RoadTUNBRIDGE WELLS £ 1.5m 5.40%Nov 200781-82 Castle StreetCANTERBURY £ 1.65m 5.50%Nov 2007124 St Vincent StreetGLASGOW £ 8.8m 5.60%Nov 2007Landmark PlaceSLOUGH £ 34m 5.60%Dec 2007Regency CourtST PETER PORT, CI £ 35.6m 5.78%Dec 2007Caldecotte Lake Bus ParkMILTON KEYNES £ 32.5m 5.80%Dec 2007Rosyth EuroparkEDINBURGH £ 27m 5.91%Nov 2007Meridian Business ParkLEICESTER £ 4.585m 5.92%Jan 2008154/155 Edward StreetBRIGHTON £ 4.9m 6.00%Jan 2008Regent HouseDORKING £ 7.25m 6.00%Jan 200857 Tithebarn StreetLIVERPOOL £ 2.76m 6.00%Jan 2008Meridien HouseWATFORD £ 18.26m 6.07%Nov 2007Cobalt Office ParkNEWCASTLE-UPON-T £ 21.55m 6.10%Nov 20079 & 10 Brunswick SquareBRISTOL £ 0.9m 6.20%Nov 2007Aberystwyth MarinaABERYSTWYTH £ 1.6m 6.30%Dec 200728 Thistle StreetEDINBURGH £ 2.35m 6.33%

Regional OfficesDATETOWN ADDRESS PRICE YIELD

Dec 2007Wilsthorpe RoadLONG EATON £ 3.4m 6.35%Jan 2008ng2, The TriangleNOTTINGHAM £ 1.727m 6.40%Jan 2008Bell Business ParkAYLESBURY £ 4.9m 6.60%Nov 2007The Observatory, BrunelCHATHAM £ 4.8m 6.70%Nov 2007Village Business ParkSOUTH NORMANTON £ 0.92m 6.73%Nov 2007Amelia Court, Pipe LaneBRISTOL £ 6.5m 6.80%Dec 2007Alpha Tower, Suffolk StBIRMINGHAM £ 45.75m 6.95%Nov 20079 North StreetRUGBY £ 2.6m 6.98%Jan 2008Norfolk HouseFARNHAM COMMON £ 1.5m 7.00%Nov 2007Bartley Wood Business PkHOOK £ 11.55m 7.00%Dec 2007Oxford Business ParkOXFORD £ 8.8m 7.00%Dec 2007SiTECH Training CentreSTOKE-ON-TRENT £ 2.101m 7.00%Dec 2007Waterside Business ParkSWANSEA £ 5.45m 7.00%Dec 2007Daresbury ParkWARRINGTON £ 2.2m 7.00%Jan 2008Norfolk Ho, Christmas LnSLOUGH £ 1.5m 7.10%Nov 2007Columbia CentreBRACKNELL £ 16.75m 7.20%Dec 2007Lingley Mere Bus ParkWARRINGTON £ 5.65m 7.38%Jan 2008Evolution Wynyard ParkBILLINGHAM £ 1.275m 7.39%Nov 2007Meadway Corporate CentreSTEVENAGE £ 6.7m 7.49%Dec 20072 Royal CourtNORTHWICH £ 0.73m 7.60%Nov 2007Heriot Watt Research ParkEDINBURGH £ 5.45m 7.63%Nov 2007Birchwood Park AvenueWARRINGTON £ 16m 7.75%Nov 20071 The SquareSEVENOAKS £ 0.522m 8.25%Jan 2008Doxford InternationalSUNDERLAND £ 15.5m 8.30%


Unit ShopsDATETOWN ADDRESS PRICE YIELD

Dec 200780 High RoadLONDON E18 £ 0.55m 2.58%Nov 200747-49 Queen StreetCARDIFF £ 15m 3.83%Dec 200736 Buchanan StreetGLASGOW £ 6.4m 4.80%Dec 20072 High StreetNOTTINGHAM £ 4.35m 4.85%Jan 2008South StreetDORCHESTER £ 4.15m 4.90%Jan 200842-48 Northgate StreetCHESTER £ 8m 5.00%Nov 2007215-218 High StreetLEWES £ 5.3m 5.00%Jan 2008Alderley RoadWILMSLOW £ 8.9m 5.00%Dec 20075-7 Northgate StreetCHESTER £ 3.264m 5.20%Nov 2007109-113 Sauchiehall StGLASGOW £ 2.963m 5.25%Nov 2007128 High StreetCHELTENHAM £ 5.9m 5.29%Jan 2008High Street & Mill LaneSOLIHULL £ 13.7m 5.40%Jan 200854b High StreetSHAFTESBURY £ 0.435m 5.50%Jan 2008242/245 Oxford StreetSWANSEA £ 6.85m 5.52%Dec 2007Market SquareMERTHYR TYDFIL £ 2.62m 5.68%Jan 200869-75 Above Bar StreetSOUTHAMPTON £ 13.25m 5.70%Nov 200714-20 St Annes Road WestLYTHAM ST ANNES £ 1.92m 5.90%Nov 200750 High StreetMERTHYR TYDFIL £ 0.7m 5.90%Jan 200826-30 London RoadBOGNOR REGIS £ 1.53m 6.00%Nov 20077-9 Silver StreetBEDFORD £ 1.675m 6.10%Dec 200718/30 Charles StreetLEICESTER £ 1.737m 6.20%Nov 2007130 St Vincent StreetGLASGOW £ 8.75m 6.28%Nov 2007Canal RoadTROWBRIDGE £ 1.25m 6.40%Dec 2007Market StreetYEALMPTON £ 0.34m 6.50%Nov 2007Freedom Ho, East SquareBASILDON £ 17.5m 6.75%Nov 2007120/122 Cornwall StreetPLYMOUTH £ 0.805m 6.92%Jan 200896a-d RidgewayPLYMPTON £ 0.7m 7.00%Dec 200723/25 Terrace RoadABERYSTWYTH £ 0.475m 7.10%



Three Month Yield Index

Shopping CentreDATETOWN ADDRESS PRICE YIELD

Dec 2007The ThistlesSTIRLING £ 23m 3.90%Nov 2007Friars SquareAYLESBURY £ 89.5m 5.13%Dec 2007Maltings Shopping CentreSALISBURY £ 29.9m 5.20%Nov 2007Victoria PlaceLONDON SW1 £ 92.5m 5.40%Dec 2007Eden WalkKINGSTON-UPON-THA £ 81m 5.50%Jan 2008Marketgate CentreLANCASTER £ 31.5m 5.76%Nov 2007Fleet WalkTORQUAY £ 35m 6.20%Nov 2007Maylord Shopping CentreHEREFORD £ 34.9m 6.25%Nov 2007Festival ParkEBBW VALE £ 19.5m 7.40%Nov 2007Tipton Shopping CentreTIPTON £ 3.35m 7.60%


Retail WarehouseDATETOWN ADDRESS PRICE YIELD

Nov 2007Winchester RoadBASINGSTOKE £ 6m 5.40%Dec 2007Aldermoor WayBRISTOL £ 6.1m 5.50%Jan 2008Watling StreetBLETCHLEY £ 10.1m 5.57%Jan 2008Gallows CornerROMFORD £ 47m 5.70%Jan 2008LANCASTER £ 27m 5.80%Dec 2007Purley WayCROYDON £ 17.25m 5.90%Dec 2007B&QNEWPORT, IOW £ 20m 5.93%Nov 2007Project BroadswordPORTFOLIO £ 71.7m 5.95%Jan 2008Seymour PortfolioPORTFOLIO £ 36m 6.00%Nov 2007Junction OneRUGBY £ 36m 6.00%Dec 2007White Rose WayDONCASTER £ 24.25m 6.25%


IndustrialDATETOWN ADDRESS PRICE YIELD

Nov 2007Europa Trading EstateERITH £ 5.5m 3.82%Dec 2007North Feltham Trad EstateFELTHAM £ 10.65m 4.30%Dec 2007Riverside Cargo CentreHEATHROW £ 7.85m 5.00%Nov 2007GREENFORD £ 21m 5.10%Dec 2007Heathrow GatewayFELTHAM £ 63.75m 5.50%Nov 2007Sainsburys DistributionTAMWORTH £ 38.5m 5.50%Dec 2007Foxholes Business ParkHERTFORD £ 5.56m 5.62%Nov 2007Radial ParkSTOKE-ON-TRENT £ 40m 5.64%Dec 20071-4 Swallow PlaceHEMEL HEMPSTEAD £ 5.25m 5.87%Dec 2007Crossways Business ParkDARTFORD £ 10.8m 6.35%Dec 2007Clifton Moor Ind EstateYORK £ 33m 6.50%Nov 2007Heartlands Business ParkDAVENTRY £ 3m 6.70%Nov 2007Spitfire ParkBIRMINGHAM £ 8.5m 6.84%Nov 2007Ashton Vale Trad EstateBRISTOL £ 20.34m 6.90%Nov 2007Orbital Way, Unit CCANNOCK £ 0.66m 7.02%Nov 2007Station Road Ind EstateHAILSHAM £ 9.71m 7.10%Nov 2007Cliff Road Ind EstateIPSWICH £ 5.4m 7.20%Nov 2007Watling ParkDAVENTRY £ 11.8m 7.30%Jan 2008Hams HallBIRMINGHAM £ 16m 7.33%Dec 2007Swallowdale LaneHEMEL HEMPSTEAD £ 6.5m 7.36%Jan 2008Houston Industrial EstateLIVINGSTON £ 2.45m 7.40%Dec 2007Chesterfield Trad EstateCHESTERFIELD £ 2m 7.56%Dec 2007Mercers RowCAMBRIDGE £ 1.005m 7.59%Dec 2007Saxham Business ParkBURY ST EDMUNDS £ 2.11m 7.60%Jan 2008Bordon Trading EstateBORDON £ 1.725m 7.65%Nov 2007Middlefield Ind EstateSANDY £ 4.5m 7.71%Nov 2007Hardwick Ind EstateKINGS LYNN £ 2.5m 7.72%Dec 2007Adelie Food PortfolioPORTFOLIO £ 5.2m 8.00%

IndustrialDATETOWN ADDRESS PRICE YIELD


LeisureDATETOWN ADDRESS PRICE YIELD

Jan 2008160-162 Victoria StreetLONDON SW1 £ 4.9m 3.50%Dec 2007PrintworksMANCHESTER £ 105m 5.65%Jan 2008Redcote LaneLEEDS £ 2.45m 5.90%Nov 2007Apollo CinemaPAIGNTON £ 5.18m 6.12%



New Acquisitions/Disposals

Cedar Court, 221 Hagley Road, Hayley GreenHalesowen, West Midlands B63 1EDTel: 0121 585 4444 Fax: 0121 585 4441Email (gen): [email protected]: www.castlemore.co.ukGrahame Whateley (Chairman)

CommentCastlemore paid £17.25m for a retail warehouse investment in Purley Way, Croydon - a 5.9% initial yield and £6.1m for a retail warehouse investment at Aldermoor Way, Bristol - a 5.5% initial yield.

Castlemore Securities Ltd

33 Cavendish Square, London W1G OPWTel: 020 7290 5100 Fax: 020 7290 5115Email (gen): [email protected]: www.catalystcapital.comPeter Kasch (Managing Partner)

CommentCatalyst European Property Fund made its debut purchase with Birmingham City Council’s office headquarters. Catalyst paid £45.2m, reflecting a net initial yield of 7.1%, for Alpha Tower.

Catalyst Capital LLP

Lansdowne House, 57 Berkeley SquareLondon W1J 6ERTel: 020 7877 4700 Fax: 020 7877 4777Email (gen): [email protected]: www.cordeasavills.comRichard Lake (Director of UK Fund Management)

CommentCordea Savills Pan European Property Fund paid B&Q Plc £20m for a 7,768 sq m retail warehouse in Newport, Isle of Wight.

Cordea Savills Pan European Property Fund

88 St James's Street, London SW1A 1PLTel: 020 7747 6880 Fax: 020 7747 6869Email (gen): [email protected]: www.guestinvest.comJohnny Sandelson (Founder and CEO)

CommentGuestInvest, the hotel room investment company, paid £120m for two central London properties, bolstering its existing £180m property portfolio. The purchases have been funded by a £200m injection from Bank of Scotland Corporate. GuestInvest plans to expand into at least 10 cities.

GuestInvest

1 Victoria Square, Birmingham B1 1BDTel: 0121 632 2090 Fax: 0121 632 2091Email (gen): [email protected]: www.highcross.co.ukAndrew Osborne (Director)

CommentHighcross paid Boultbee £10.5m for the eight-storey Berwick House, Birmingham and plans a £2.5m refurbishment of the 60,500 sq ft block. Highcross will then market the property at £21/sq ft and take 3,000 sq ft to house its Birmingham team.

Highcross Strategic Advisers Ltd

Empress Business Centre, 380 Chester Road, Old TraffordManchester M16 9EATel: 0161 877 5631 Fax: 0161 877 5604Email (gen): [email protected]: www.highcross.co.ukRichard Pellatt (Regional Director)

CommentHighcross bought the 93,000 sq ft Manchester International Office Centre from LaSalle Investment Management, acting on behalf of BAE Pension Fund, for £16.5m. Highcross is planning a refurbishment programme, which will include adding an extra floor.

Highcross Strategic Advisers Ltd

1 Beasley's Yard, 126 High StreetUxbridge UB8 1JUTel: 01895 233233 Fax: 01895 233322Email (gen): [email protected]: www.jansonsproperty.comAndy Jansons (Managing Director)

CommentJansons West London & Thames Valley Limited is a property development and investment company established in 2003. Its focus is in the West London and Thames Valley region. It is a joint venture between Andy Jansons and The William Pears Group.

Jansons sold a Heathrow hotel development to a private UK investor for £38m – a 4.5% yield. The 307-bedroom hotel is let to Travelodge for 35 years. Construction has already started and completion is scheduled for December 2008.

Jansons West London & Thames Valley Ltd


New Acquisitions/Disposals

66 Hanover Street, Edinburgh EH2 1HHTel: 0131 226 2736 Fax: 0131 225 2663Email (gen): [email protected]: www.lasalle.comStephen Spray (Director)

CommentLaSalle Investment Management completed the £21.24m sale of a mixed-use complex in central Edinburgh to a private Glasgow-based investor. The buildings are at 33a-35 George Street and 66-90 Hanover Street and were sold on behalf of Coal Pension Properties.

LaSalle Investment Management

24 King William Street, London EC4R 9AJTel: 020 7822 0661 Fax: 020 7822 0660Web: www.mitsuifudosan.co.jp/englishMotomitsu Morimoto (Managing Director)

CommentMitsui Fudosan’s UK subsidiary paid Japan Airlines International £57m for its HQ at 5 Hanover Square, W1. Mitsui Fudosan is planning to demolish the building and redevelop it.

Mitsui Fudosan (U.K.) Ltd

One Poultry, London EC2R 8EJTel: 020 7809 6000 Fax: 020 7809 6816Email (gen): [email protected]: www.morleyfm.comPhil Nell (Fund Manager)

CommentAs at 30/11/07 the gross asset value was £3,204 million. The trust holds 136 properties with a net initial yield of 5.00%.

Norwich Property Trust is currently an active seller with recent disposals including Apex International, Edinburgh (£38.25m), 10 Queen Street Place, EC4 (£145m), 3 Hardman Square, Manchester (£95.25m) and 16 Old Bailey (£78m) .

Norwich Property TrustFund Manager: Morley Fund Management

11 Upper Brook Street, London W1K 6PBTel: 020 7529 3200 Fax: 020 7529 3201Email (gen): [email protected]: www.quinlanprivate.comThomas Dowd (Partner)

CommentQuinlan Private is a leading international private equity real estate group. Founded by financier Derek Quinlan, Quinlan Private now has more than €11.5m worth of assets under management dealing throughout the UK, Europe and the US.

Quinlan Private entered into a £275m joint venture with Development Securities and Morley to develop Two Kingdom Street, PaddingtonCentral, W2. Construction on Two Kingdom Street will begin immediately and the project is expected to yield a gross development value of more than £275m by completion in December 2009.

Quinlan Private

20 Balderton Street, London W1K 6TLTel: 020 7495 6335 Fax: 020 7495 6336Email (gen): [email protected]: www.revcap.co.ukAndrew Pettit (Partner)

CommentREVCAP is an independent principal investor seeking to create a diversified exposure in alternative investments on the cusp of the European real estate and capital markets.

MacDonald Egan Regen 35, the joint venture property fund set up by MacDonald Egan Developments and Revcap bought a 125,000 sq ft mixed-use development site at Callis Yard, close to Woolwich town centre in Greenwich, south east London.The joint venture plans to spend over £70m on assets over the next 12 to 18 months.

REVCAP LLP

39 George Street, Edinburgh EH2 2HNTel: 0845 070 4633 Fax: 0131 225 8373Email (gen): [email protected]: www.stocklandhalladale.co.ukEwan Cameron (Asset Manager)

CommentStockland Halladale bought 3-8 St Andrew Square, Edinburgh, for £21.25m. The site, formerly the HQ of insurance firm Scottish Provident, was sold by ING Real Estate and comprises six adjoining buildings along the south of the square.

Stockland Halladale

Nations House, Edmund Street, Liverpool L3 9NYTel: 0151 224 0640 Fax: 0151 224 0641Email (gen): [email protected] Parker (Managing Director)

Comment UK Land & Property bought its first major property in central Manchester, acquiring 76 King Street from Scottish Widows. The developer paid in excess of £15m for the 41,300 sq ft mixed-use building in a deal funded by Bank of Scotland Corporate.

UK Land & Property Ltd

13th Floor, 99 Bishopsgate, London EC2M 3XDTel: 020 7972 0300 Fax: 020 7628 0662Email (gen): [email protected]: www.usshq.co.ukGraham Burnett (Head of Property)

CommentUSS bought Eden Walk shopping centre in Kingston upon Thames for £80m. The price reflects a 5.5% yield. USS, which was a net seller last year after offloading schemes in Telford and Leeds, bought the 230,000 sq ft shopping centre after Kingston upon Thames Council’s proposals for a £500m revamp of the Eden Quarter in the Town Centre had to be altered.

Universities Superannuation Scheme Ltd (USS)

Latest Investors to the Market


Latest Investors to the Market

21 Bentinck Street, London W1U 2EXTel: 020 7317 0020Bob Bowden (Managing Director)

CommentBob Bowden, former property investment director of British Land, started his own private property company, Bentinck Estates, in January 2008.

Bentinck Estates will be looking at opportunities in central London and inner London suburbs, particularly in the retail and office sectors.

Bentinck Estates

Current Requirements

33 St James's Square, St James'sLondon SW1Y 4JSTel: 0207 667 6321 Fax: 0207 667 6421Email (gen): [email protected]: www.evansrandall.comMichael Evans (Chairman)

CommentEvans Randall launched a £1bn opportunity fund to buy prime assets from forced sellers. The UK investment bank’s first asset to go into the fund will be Condor House in the City of London, which it recently bought for £115m, reflecting a yield of 5.3%.

Evans Randall Ltd

3 Astwood Mews, London SW7 4DETel: 020 7370 1331 Fax: 020 7370 1525Email (gen): [email protected]: www.gilbran.comNigel Smith (Managing Director)

CommentGilbran is a specialist property development, investment & management group which focuses exclusively on the motor trade sector of the UK property market.

Gilbran is preparing to swoop on £350m of debt-backed car dealerships that it says are at risk of foreclosure. The automotive real estate investor is seeking to buy the problem yards from their lenders, who will then share in any future uplift of the property's value.

Gilbran Group Ltd

11-15 Farm Street, London W1J 5RSTel: 020 7629 0113 Fax: 020 7408 1666Email (gen): [email protected]: www.helical.co.ukMike Brown (Deputy Chief Executive)

CommentHelical Bar announced plans to re-enter the property investment market following the rapid yield hikes of the last quarter. The company has £500m of funds available.

Helical Bar Plc

26th Floor, City Tower, Piccadilly PlazaManchester M1 4BDTel: 0161 242 2910 Fax: 0161 242 2929Email (gen): [email protected]: www.infinityllp.comDaniel Finestein (Partner)

CommentInfinity launched a £100m fund to take advantage of the downturn in the UK market.

The fund will target investment and development projects of £5m-£25m, and exploit asset management angles to add value.

It will look primarily in the north-west, but also elsewhere in the UK and Europe, and target regeneration areas.

Infinity has appointed Les Lang, managing director of Ask Developments subsidiary Abito, to head its new property fund department.

Infinity Asset Management LLP

Exchequer Court, 33 St Mary AxeLondon EC2N 1HZTel: 020 7153 9300 Fax: 020 7321 1434Email (gen): [email protected]: www.invistarealestate.comAilish Christian (Director, Fund Manager)

CommentThe Invista Real Estate Opportunity Fund has been established to invest in real estate backed opportunities in the UK and Continental Europe. The Fund is opportunistic in style and seeks to identify and exploit real estate opportunities arising from mis-pricing. Its broad investment scope means that it can invest in direct property, indirect property, debt and equity securities, developments, joint ventures and corporate real estate backed opportunities. The Fund has up to £250 million currently available for investment in pan-European real estate backed transactions.

Invista Real Estate Opportunity Fund LPFund Manager: Invista Real Estate Investment Management

5 Strand, London WC2N 5AFTel: 020 7413 9000 Fax: 020 7925 0202Email (gen): [email protected]: www.landsecurities.co.ukAndrew Wilson (Business Development Director)

CommentDuring 2007 LandSec sold £2 billion of property - more than twice its usual annual sales. LandSec confirmed that it had £500 million of available but undrawn borrowings at the end of 2007.

Land Securities Group Plc


Current Requirements

47b Welbeck Street, London W1G 9XATel: 020 7935 7317 Fax: 020 7935 7611Web: www.maidstonecapital.co.ukJeffrey Rosen (Director)

CommentMaidstone Capital is a privately owned property investment and development company with assets throughout the UK.Their speciality is to buy property off-market where there are opportunities to add value through their hands-on approach to asset management.

Maidstone Capital Properties RequirementsThe company specialises predominantly in commercial property in the following areas:

London South East The Midlands Maidstone Capital puts particular emphasis on the retail, restaurant, office and industrial sectors.

The company is presently on an expansion programme to substantially increase their portfolio holdings.(01/08)

Time & Life Building, 1 Bruton StreetLondon W1J 6TLTel: 020 7409 5500 Fax: 020 7409 5501Email (gen): [email protected]: www.palmercapital.co.ukRay Palmer (Chairman)

CommentPalmer Capital Partners cancelled its proposed sale of a £175m petrol station portfolio, but has backed £80m of purchases in the belief that the UK market is now close to the bottom of its cycle. Its recent acquisitions include: an office at Doxford International business park in Sunderland, which it bought with Wrenbridge Land for £15.5m - an 8.25% yield and a £15m mixed-use site in Enfield, bought with Frontier Estates.

Palmer Capital Partners Ltd

42 Bruton Place, London W1J 6PATel: 020 7518 8380 Fax: 020 7518 8384Email (gen): [email protected]: www.resolutionproperty.comRobert Wolstenholme (Investment Director)

CommentResolution raised €800bn of equity for its third and largest fund to date. The new fund has been backed by 10 US university endowment funds, including Ivy league colleges Yale, Harvard and Princeton. Large UK and Dutch pension funds and a major UK family are also among the backers.

Resolution Real Estate Fund III, which aims to have eventual funds of £3bn, will target all sectors. Its first investment was the 350,000 sq ft Printworks leisure scheme in Manchester, which it bought from BA Pension fund and Pearl at the end of 2007 for £105m.

Resolution

11 St George Street, Hanover SquareLondon W1S 2FDTel: 020 7355 9880 Fax: 020 7493 3663Email (gen): [email protected]: www.sapcotes.co.ukNigel Reynolds (Managing Director)

Sapcote Developments Ltd Requirements- £2 - £15 million lots industrial/office buildings- Sites with a range of buildings vacant or substantially vacant for industrial / B1 uses - Condition of buildings immaterial. - Also happy to look at fully / substantially occupied properties where tenant due to vacate in short term.- Preferably Home Counties and London

Sapcote paid £1.715m for 32,000 sq ft of industrial in Stirling Way, Borehamwood.

31 Gresham Street, London EC2V 7QATel: 020 7658 6000 Fax: 020 7658 6737Email (gen): [email protected]: www.schroders.comWilliam Hill (Head of Property)

CommentSchroders is to launch a £1bn property fund to take advantage of the deteriorated market conditions.

Schroder Property Investment Management Ltd

Nexus House, Nexus, Randles Ro, Knowsley Business ParkKnowseley, Merseyside L34 9HXTel: 0151 545 2500 Fax: 0151 545 2534Email (gen): firstnamefirstinitialsurname@spencercommWeb: www.spencerholdingsplc.comChris Hughes (Acquisitions and Sales Director)

CommentThe portfolio consists of Industrial estates, Trade Counter, Business Parks and office Parks and are branded accordingly.

Spencer Holdings secured £200m funding from Bank of Scotland Real Estate for major national expansion. It is planning to target a number of strategic opportunities to increase its holdings from 4m sq ft to 6m sq ft across the UK. Its current portfolio comprises more than 800 tenants nationwide.

Spencer Holdings Plc

1 Mount Street, London W1K 3NBTel: 020 7659 6666Email (gen): [email protected]: www.valad.co.ukDidier Tandy (UK Managing Director)

CommentValad announced plans to set up a £500m UK opportunity fund, after completing its first round of capital raising, with £150m in debt and equity.

Valad Property Group


SECTOR STATISTICS

Figures are subject to rounding and future revision

Central LondonOffice

Rest of UKOffice

ShoppingCentre

RetailWarehouse

Shop /Supermarket Industrial Leisure Other

VALUE OF UK COMMERCIAL INVESTMENT TRANSACTIONS (£m)

Total

2006.Q1 4,050 2,291 792 1,384 966 966 1,566 2,608 14,6232006.Q2 4,269 1,760 910 380 981 1,616 1,547 1,089 12,5522006.Q3 3,881 3,008 1,046 1,792 789 1,574 919 2,075 15,0842006.Q4 4,640 3,337 3,452 1,074 1,383 1,425 2,976 1,573 19,8602007.Q1 3,896 2,064 1,418 787 1,403 820 1,677 798 12,8632007.Q2 6,706 2,298 1,268 1,672 704 1,260 1,143 1,521 16,5722007.Q3 7,161 2,089 1,464 446 1,234 928 1,071 1,292 15,6852007.Q4 1,822 920 656 259 420 816 518 1,464 6,8752008.Q1 426 250 32 220 94 60 217 182 1,481


Rest of UKOffice

ShoppingCentre

RetailWarehouse


NUMBER OF UK COMMERCIAL INVESTMENT TRANSACTIONS

Total

2006.Q1 77 175 20 41 98 99 22 31 5632006.Q2 102 169 15 30 114 101 22 26 5792006.Q3 125 196 22 42 101 129 27 48 6902006.Q4 105 215 35 36 116 133 36 33 7092007.Q1 84 138 18 23 108 78 32 25 5062007.Q2 102 146 8 31 90 94 19 28 5182007.Q3 97 117 18 20 74 82 18 24 4502007.Q4 63 95 14 15 54 70 14 21 3462008.Q1 10 19 1 6 12 12 6 7 73


Rest of UKOffice

ShoppingCentre

RetailWarehouse


AVERAGE NET INITIAL YIELD % (WEIGHTED)All

Property

2006.Q1 5.34 6.09 5.17 4.74 4.87 6.40 5.71 n/a 5.612006.Q2 5.24 5.87 4.55 4.57 4.37 5.96 5.34 n/a 5.322006.Q3 4.87 5.54 4.60 4.40 4.47 6.31 5.48 n/a 5.112006.Q4 4.70 5.70 5.13 4.32 4.54 6.13 5.76 n/a 5.102007.Q1 4.60 5.61 4.81 4.17 4.65 5.89 5.52 n/a 4.932007.Q2 4.42 5.65 5.17 4.42 4.64 6.25 5.75 n/a 4.852007.Q3 4.63 5.70 4.47 4.41 4.25 5.87 5.69 n/a 4.902007.Q4 4.90 5.91 5.51 4.87 5.19 6.15 5.18 n/a 5.502008.Q1 5.06 5.64 5.76 5.80 5.36 7.37 4.30 n/a 5.60

to end January 2008

Last 12 months 18,991 7,012 4,689 3,136 3,589 3,691 4,035 5,173 50,316Last 6 months 5,250 2,539 1,004 690 1,602 1,347 965 2,377 15,774Last 3 months 1,853 895 617 341 416 563 655 1,503 6,843Calendar year to date 426 250 32 220 94 60 217 182 1,481

to end January 2008

Last 12 months 326 474 54 88 299 311 76 97 1,725Last 6 months 128 193 26 33 120 136 31 41 708Last 3 months 54 79 12 13 39 58 15 21 291Calendar year to date 10 19 1 6 12 12 6 7 73

to end January 2008

Last 12 months 4.59 5.71 4.87 4.51 4.56 6.05 5.60 n/a 4.99Last 6 months 4.78 5.80 5.47 5.15 4.43 5.91 5.17 n/a 5.25Last 3 months 4.93 5.79 5.53 5.88 5.42 6.14 5.59 n/a 5.56Calendar year to date 5.06 5.64 5.76 5.80 5.36 7.37 4.30 n/a 5.60

The UK Property Investors Bulletin - February 2008 Edition

INVESTOR STATISTICS

Figures are subject to rounding and future revision

InstitutionsQuoted

Property CoPrivate

Property CoOverseasInvestors

PrivateIndividuals Occupiers Others

VALUE OF UK COMMERCIAL INVESTMENT PURCHASES (£m)

TotalFinancial /

Banks

2006.Q1 3,460 455 2,784 4,266 1,837 368 406 14,6241,0482006.Q2 3,196 620 2,200 3,979 1,168 233 165 12,5529912006.Q3 4,547 2,676 2,792 3,032 1,383 182 399 15,084732006.Q4 4,239 1,009 4,322 6,974 1,712 640 685 19,8592782007.Q1 2,552 2,023 1,789 4,688 1,070 373 328 12,862382007.Q2 3,137 1,405 2,558 7,253 1,645 78 158 16,5713382007.Q3 2,494 1,065 2,542 6,305 1,957 577 536 15,6862102007.Q4 1,372 467 1,547 1,448 941 325 757 6,876192008.Q1 41 16 360 725 218 79 42 1,4810

VALUE OF UK COMMERCIAL INVESTMENT SALES (£m)

InstitutionsQuoted

Property CoPrivate


PrivateIndividuals Occupiers Others Total

Financial /Banks

2006.Q1 2,548 1,930 3,356 3,664 776 971 526 14,6248532006.Q2 1,016 1,246 3,984 2,793 1,153 1,734 536 12,552902006.Q3 3,773 1,754 3,372 2,873 1,270 1,024 755 15,0842622006.Q4 3,205 1,286 3,498 5,387 1,556 2,238 1,000 19,8591,6892007.Q1 2,650 1,500 2,084 2,299 1,069 2,776 393 12,862912007.Q2 4,088 1,912 2,719 2,600 1,163 3,065 479 16,5715452007.Q3 2,688 2,076 3,329 1,947 1,566 1,214 471 15,6862,3942007.Q4 2,292 1,114 963 606 337 399 297 6,8768682008.Q1 660 72 110 205 30 203 26 1,481175

UK NET INVESTMENT (£m)

InstitutionsQuoted

Property CoPrivate


PrivateIndividuals Occupiers Others Total

Financial /Banks

2006.Q1 912 -1,475 -572 602 1,061 -603 -120 01952006.Q2 2,181 -626 -1,784 1,186 15 -1,501 -371 09012006.Q3 774 921 -581 159 113 -842 -356 0-1892006.Q4 1,034 -276 824 1,587 156 -1,599 -315 0-1,4122007.Q1 -98 524 -295 2,389 1 -2,403 -65 0-532007.Q2 -951 -507 -161 4,653 482 -2,987 -321 0-2072007.Q3 -194 -1,011 -787 4,358 391 -637 64 0-2,1852007.Q4 -920 -647 584 842 603 -74 460 0-8492008.Q1 -618 -56 249 520 188 -124 16 0-175

to end January 2008

Last 12 months 8,830 4,616 8,326 19,193 5,538 1,418 1,804 50,315589Last 6 months 3,023 1,052 3,283 4,579 2,074 488 1,256 15,77419Last 3 months 1,151 324 1,645 1,931 878 401 512 6,8420Calendar year to date 41 16 360 725 218 79 42 1,4810

to end January 2008

Last 12 months 11,574 6,580 8,471 7,301 3,848 7,058 1,483 50,3154,000Last 6 months 4,494 2,049 3,401 1,583 853 1,606 633 15,7741,155Last 3 months 2,379 960 743 674 243 551 249 6,8421,043Calendar year to date 660 72 110 205 30 203 26 1,481175

to end January 2008

Last 12 months -2,743 -1,964 -145 11,892 1,690 -5,640 321 0-3,411Last 6 months -1,472 -997 -118 2,996 1,221 -1,118 623 0-1,136Last 3 months -1,228 -636 902 1,257 635 -149 263 0-1,043Calendar year to date -618 -56 249 520 188 -124 16 0-175


Notes1. The report is compiled from the Property Data Investment Transactions Database, a proprietary database that records both publicly reported transactions and direct deal submissions from the UKs leading investment agents.2. The figures do NOT include auction or corporate transactions.3. All investment figures are subject to rounding and to future revisions.4. For investor statistics joint venture transactions are apportioned equally dependant on the number of purchasers/vendors.5. Central London is classified with the following London postcodes: E1, E14, EC, NW1, SW1, SW3, SW7, W1, W2, W6, W8, W11, WC, SE1, SW10.6. Initial yields are calculated as a weighted average.

INVESTMENT TRANSACTION STATISTICS

426

250

32

220

93

60

217

0

50

100

150

200

250

300

350

400

450


Rest of UK Office Shopping Centre Retail Warehouse Shop / Supermarket Industrial Leisure

Tran

sact

ion V

olum

e £

m

UK Institutions Property Companies Overseas Investors Private Indiv iduals Other Total

Value£m

InitialYield

Numberof deals

Key results to end-January 2008

Last month

Last three months

Last six months

Last twelve months

Calendar year to date

Sector Statisticson Page 18

Investor Statisticson Page 19

Key Sectors and Purchaser Breakdown for Calendar Year to Date Ending January 2008

Year to Date (Jan - Jan)

1,481

6,843

15,774

50,315

1,481

73

291

708

1,725

73

5.60

5.56

5.25

4.99

5.60

Buy£m

InitialYield

Sell£m

Institutional Investment results to end-January 2008

Last month

Last three months

Last six months

Last twelve months

Calendar year to date

Net£m

-619

-2,744

-1,471

-1,228

-61966041

1,151 2,379

4,4943,023

11,574

66041

8,830

5.80

5.80

5.14

4.93

5.80

Property Data is a leading independent provider of information on the UK investment transactions market. As well as recording all publicly available investment transactions, Property Data carries out extensive direct deal research with many of the UK's leading investment agents.

The Property Investors Bulletin


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