FREEHOLD INVESTMENT OPPORTUNITY

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1 FREEHOLD INVESTMENT OPPORTUNITY ALEXANDER HOUSE, ST MATTHEW S STREET, IP1 3EW For sale on the instruction of T Perkin & J Barber acting as Joint Fixed Charge Receivers

2 2 ALEXANDER HOUSE, ST MATTHEW S STREET, IP1 3EW INVESTMENT SUMMARY An opportunity to acquire a high yielding freehold House in Multiple Occupation (HMO) in a prominent location in Ipswich comprising: 80 units (72 self-contained) arranged over two adjoining buildings, including seven communal kitchen / living rooms and two roof terraces An overall gross internal area (including common parts) extending to 17,461 sq ft (1,622 sq m) over 5 storeys An overall gross rental income of 328,140 per annum (91% occupancy) with an estimated rental value of 335,000 per annum Located approximately 0.2 miles (0.32 km) to the west of Ipswich town centre and 0.5 miles (0.8 km) from Christchurch Park, which provides 70 acres (28 ha) of parkland, and sporting facilities A high yielding investment with the opportunity to add value through refurbishment Scale 1:1250 View of St Lawrence Church (town centre) NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. Crown copyright licence number Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed. LOCATION & SITUATION Ipswich is in the county town of Suffolk, located on the estuary of the River Orwell in the South East of England. It is situated approximately 75 miles (120 km) to the north east of London, 52 miles (84 km) east of Cambridge and 42 miles (67 km) south of Norwich. Ipswich is the oldest Anglo-Saxon town in England with an extensive history behind it, evident in the array of attractive period buildings and architecture. The Property is situated in a prominent position on the corner of St Matthew s Street and Portman Road towards the western edge of the town, REGENERATION approximately 0.2 miles (0.3 km) from the town centre. The town centre provides a mix of boutiques and large high street retailers, including a range of coffee shops, restaurants and bars. The immediate area around the Property is characterised by a mix of residential housing, retail and small businesses. There is a Tesco Express and a public gym situated approximately 200 ft to the east of the Property. Christchurch Park, which is located 0.5 miles (0.8 km) to the east, provides 70 acres of parkland, and sporting facilities. The Buttermarket is a 270,000 sq ft. four storey shopping centre in the town centre currently undergoing a 35 million refurbishment. It is adding a new leisure-based facility with a 12-screen cinema and 20,000 sq ft gym. Completion is estimated for the end of the year. Ipswich Railway Station is receiving a 2 million investment to upgrade its current facilities. Redevelopment of The Cornhill, the square in front of Ipswich s Town Hall, is also in the pipeline with 3.3 million being committed to redeveloping the area into a more prominent town centre focal point.

3 A57 Lincoln M1 A1 IP1 3EW ALEXANDER HOUSE, ST MATTHEW S STREET, 3 Skegness M6 Nottingham Stoke-on-Trent Telford M54 TRANSPORT Grantham Derby M42 King s Lynn A1 M1 Leicester M69 M1 M6 Great Yarmouth Peterborough A47 Birmingham Norwich A47 A47 Lowestoft A1(M) Coventry A14 M45 Worcester Northampton M40 Bedford Newmarket M1 Milton Keynes Aylesbury Gloucester M11 Luton Cheltenham Colchester Stevenage Stansted Oxford Chelmsford High Wycombe Southend-on-Sea Swindon London Reading Bristol Ipswich Railway Station is on the Great Eastern Main Line and provides direct access to London Liverpool Street in 1 hour 10 minutes and Norwich in 42 minutes. Road communications in and out of Ipswich are excellent. The A1156 provides direct access to the A14 to the west, which links with the M25 to the south west via the A12. The A14 also provides access to Cambridge to the west and the A1156 provides access across the town to the east. Ipswich Cambridge Ipswich Railway Station is located 0.8 miles (1.3 km) to the south of the Property and Derby Road Railway Station is located 1.9 miles (3.1 km) to the east of the Property on the opposite side of the town. Destination Travel Time (Fastest) London 1 hour 10 minutes Cambridge 1 hour 19 minutes Norwich 42 minutes Ramsgate Bath Basingstoke Salisbury Guildford Winchester Maidstone Crawley Royal Tunbridge Wells Dover Folkestone Southampton Hastings Portsmouth Bournemouth Newport Brighton Eastbourne Communal courtyard

4 ALEXANDER HOUSE, ST MATTHEW S STREET, IP1 3EW 4 DESCRIPTION HMO LICENCE MARKET OVERVIEW THE HMO MARKET The Property comprises two adjoining buildings: The Main Block is arranged over 3 floors, comprising 58 units, 50 of which are selfcontained. There are also 7 communal kitchen / living rooms and a roof terrace. The Block benefits from lift access and is arranged over 5 floors, comprising 22 selfcontained units and a terrace on the third floor. All the units are furnished and the majority are in average condition with a basic specification; therefore, providing an investor the opportunity to add value through refurbishment. The Property does not have a HMO licence. TENANCY INFORMATION The Property is currently 91% let on Assured Shorthold Tenancies (ASTs) producing a gross annual rent of 328,140. This reflects per calendar month per unit. A summary of the tenancies is provided within Table 1. Table 1 Tenancies Summary Current Rent Passing 328,140 Estimated Rental Value 335,000 The private rented sector (PRS) in the locality of the Property (postcode IP1 3) accounts for c. 36% of all households, which reflects a 13% increase from 2001 to 2011 (Census data). The PRS in postcode IP1 and Ipswich makes up 22% and 21% respectively of all households, which reflects growth of 28% and 34% respectively since 2001 to 2011 (Census data). Table 2 reflects the pricing profile (per calendar month) of the rental market in Ipswich. The HMO investment market has evolved rapidly over the past two years. This has been particularly evident in London. Until recently there was limited demand for HMO properties when compared with residential (C3), as HMO properties were considered a niche investment. However, the HMO investment market offers the opportunity to optimise rents per square foot, enabling enhanced returns above mainstream residential. PLANNING The Property was historically used as student accommodation. In 2014 planning permission (IP/14/00179/FUL) was granted to convert the building into a HMO to provide 80 units and permit the Property to be let to non-students, as well as full time students. Max Rent PCM 475 Average Rent PCM 375 Min Rent PCM 300 Example living / kitchen room Occupancy 91% Example unit Table 2 Unit Type Median Upper Quartile Upper Decile Studio bed bed bed bed 975 1,406 1,433 (Rightmove Listings Year to Q4 2016) Example unit Communal hallway

5 ALEXANDER HOUSE, ST MATTHEW S STREET, IP1 3EW 5 FLOOR PLANS Overall gross internal area (including common parts) extending to 17,461 sq ft (1,622 sq m) Ground Floor First Floor 1 16'6'' x 11'3'' 5.03 x 3.43m 2 14'9'' x 9'6'' 4.50 x 2.90m 6 16'6'' x 11' 5.03 x 3.35m 7 11'3'' x 9'6'' 3.43 x 2.90m 5 14' x 10' 4.27 x 3.05m 4 11' x 9'6'' 3.35 x 2.90m 3 14' x 11'3'' 4.27 x 3.43m Laundry 5.5 9'9'' x 6'6'' 2.97 x 1.98m 10 17'3'' x 10'9'' 5.26 x 3.28m 9 12'6'' x 11' 3.81 x 3.35m 8 14' x 11'6'' 4.27 x 3.51m ' x 8'6'' 3.96 x 2.59m '6'' x 10'6'' 3.81 x 3.20m '9'' x 7'6'' 4.50 x 2.29m ' x 7'3'' 3.05 x 2.21m 1.3 9'3'' x 8' 2.82 x 2.44m 1.4 9'6'' x 8' 2.90 x 2.44m 1.5 9'6'' x 8' 2.90 x 2.44m 1.6 9'6'' x 8' 2.90 x 2.44m 25'9'' x 12'6'' 7.85 x 3.81m 16'6'' x 14' 5.03 x 4.27m '3'' x 12'3'' 4.95 x 3.73m ' x 8'9'' 3.05 x 2.67m '9'' x 7'3'' 4.19 x 2.21m ' x 7' 3.05 x 2.13m ' x 8' 3.05 x 2.44m ' x 8' 3.05 x 2.44m ' x 7'3'' 3.05 x 2.21m '9'' x 8'6'' 3.28 x 2.59m 23' x 14'6'' 7.01 x 4.42m '3'' x 8'6'' 3.43 x 2.59m '6'' x 9'6'' 3.20 x 2.90m '9'' x 11'3'' 4.19 x 3.43m '9'' x 10' 4.19 x 3.05m Laundry 17'9'' x 10' 5.41 x 3.05m '9'' x 10'6'' 3.89 x 3.20m Entrance Hall 1.9 9'3'' x 8'9'' 2.82 x 2.67m '6'' x 12' 4.11 x 3.66m Reception 2 Lobby 5 Managers 10'9'' x 10' 3.28 x 3.05m '3'' x 9'3'' 3.12 x 2.82m '3'' x 11' 3.73 x 3.35m '9'' x 9'9'' 3.89 x 2.97m '9'' x 9'6'' 4.19 x 2.90m '3'' x 8'9'' 4.34 x 2.67m '9'' x 11' 3.89 x 3.35m '3'' x 10'6'' 3.43 x 3.20m 16'3'' x 12'9'' 4.95 x 3.89m BASEMENT Basement GROUND FLOOR Property Details: ALEXANDER HOUSE 75 ST MATTHEWS STREET SUFFOLK IP1 3EW Surveyed and Drawn By: B K R Sunnyhill House 3-7 Sunnyhill Road London, SW16 2UG FIRST FLOOR Property Details: ALEXANDER HOUSE 75 ST MATTHEWS STREET SUFFOLK IP1 3EW Surve B Sunn 3-7 S Lond APPROX. GROSS INTERNAL AREA * WHOLE BUILDING Ft ² M ² SCALE A4 Plans Drawn: Tel: Fax: info@bkrfloorplans.co.uk C BKR 2017 APPROX. GROSS INTERNAL AREA * WHOLE BUILDING Ft ² M ² SCALE A4 Plans Drawn: Tel: Fax: info@ www C B

6 ALEXANDER HOUSE, ST MATTHEW S STREET, IP1 3EW 6 FLOOR PLANS Mezzanine Second Floor 11 16'6'' x 11' 5.03 x 3.35m 12 11'3'' x 9'6'' 3.43 x 2.90m ' x 8'6'' 3.96 x 2.59m '6'' x 10'6'' 3.81 x 3.20m 15 17' x 10'9'' 5.18 x 3.28m 14 12'6'' x 11' 3.81 x 3.35m 13 14' x 11'9'' 4.27 x 3.58m ' x 8'6'' 3.96 x 2.59m '6'' x 10'6'' 3.81 x 3.20m 23'6'' x 14'6'' 7.16 x 4.42m '3'' x 8'6'' 3.43 x 2.59m '6'' x 9'6'' 3.20 x 2.90m 13'9'' x 11'3'' 4.19 x 3.43m '9'' x 10' 4.19 x 3.05m '9'' x 7'3'' 4.19 x 2.21m '9'' x 7'6'' 3.28 x 2.29m '3" x 8' 3.12 x 2.44m '3" x 8' 3.12 x 2.44m '3'' x 7'6'' 3.12 x 2.29m ' x 7'6'' 3.35 x 2.29m 14'3'' x 11' 4.34 x 3.35m '3'' x 7'3'' 3.73 x 2.21m Kitchen 17' x 13'3'' 5.18 x 4.04m 4.9 9' x 6'9'' 2.74 x 2.06m 4.8 9'3'' x 7'3'' 2.82 x 2.21m 4.7 8'9'' x 7'9'' 2.67 x 2.36m '9'' x 9'3'' 3.89 x 2.82m 4.6 9' x 8'3'' 2.74 x 2.51m '6'' x 9'3'' 2.90 x 2.82m 3.9 8'6'' x 8'3'' 2.59 x 2.51m '6'' x 8'3'' 2.59 x 2.51m '3'' x 8' 3.12 x 2.44m 4.2 8'9'' x 7'6'' 2.67 x 2.29m 4.3 9' x 7'9'' 2.74 x 2.36m 4.4 9' x 7'6'' 2.74 x 2.29m ' x 8' 4.27 x 2.44m Roof Terrace MEZZANINE Property Details: ALEXANDER HOUSE 75 ST MATTHEWS STREET SUFFOLK IP1 3EW Surveyed and Drawn By: B K R Sunnyhill House 3-7 Sunnyhill Road London, SW16 2UG SECOND FLOOR Property Details: ALEXANDER HOUSE 75 ST MATTHEWS STREET SUFFOLK IP1 3EW Surve B Sunn 3-7 S Lond APPROX. GROSS INTERNAL AREA * WHOLE BUILDING Ft ² M ² SCALE A4 Plans Drawn: Tel: Fax: info@bkrfloorplans.co.uk C BKR 2017 APPROX. GROSS INTERNAL AREA * WHOLE BUILDING Ft ² M ² SCALE A4 Plans Drawn: Tel: Fax: info@ www C B

7 ALEXANDER HOUSE, ST MATTHEW S STREET, IP1 3EW 7 FLOOR PLANS Third Floor Fourth Floor 16'6'' x 11' 16'6'' x 11' 5.03 x 3.35m 5.03 x 3.35m Roof Terrace Roof Terrace 19 16'6'' x 11' 5.03 x 3.35m ' x 10'9'' 17' x 10'9'' 5.18 x 3.28m 5.18 x 3.28m '6'' x 11' 12'6'' x 11' 3.81 x 3.35m 3.81 x 3.35m '3'' x 11'9'' 17'3'' x 11'9'' 5.26 x 3.58m 5.26 x 3.58m 22 17' x 10'9'' 5.18 x 3.28m 21 12'6'' x 11' 3.81 x 3.35m 20 17'3'' x 11'9'' 5.26 x 3.58m

8 ALEXANDER HOUSE, ST MATTHEW S STREET, IP1 3EW 8 TENURE The Property is held Freehold. METHOD OF SALE The Property is offered for sale by private treaty. VAT The Property is not elected for VAT. FURTHER INFORMATION A full suite of background information, including EPCs, can be found on the online dataroom at: VIEWINGS Viewings are strictly by appointment via the vendor s sole selling agents, Savills. Please contact one of the agents below to make an appointment. CONTACTS James Watkins Residential Capital Markets +44 (0) jwatkins@savills.com Davina Clowes Residential Capital Markets +44 (0) dclowes@savills.com Alex Leader Ipswich - Residential Development Sales +44 (0) aleader@savills.com Max Turner Ipswich - Residential Development Sales +44 (0) mjturner@savills.com Communal courtyard This Property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Fixed Charge Receivers to the best of their knowledge, but the purchaser must rely solely on their own enquiries. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of the sale without personal liability. Important Notice Savills, and their clients give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the Property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the Property has all necessary planning, building regulation or other consents and that Savills and Knight Frank have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Designed and Produced by Savills Marketing: May 2017