188 High Street, Egham, TW20 9ED Freehold M25 Office Investment

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1 188 High Street, Egham, TW20 9ED Freehold M25 Office Investment

2 Investment Summary Freehold office investment situated in affluent and historic M25 town of Egham. Excellent communications with Junction 13 of the M25 and Heathrow International Airport only 1.5 miles and 5 miles from the town respectively. Property constructed in 1997 comprising sq.m. (6,212 sq.ft.) of well specified offices on ground and two upper floors Exceptional car parking ratio of 1:177 sq.ft. Let to Axon Solutions Limited on a lease expiring on 23rd April 2013 at a current rent of 159,400 per annum ( psf overall). Axon Solutions Limited is a wholly owned subsidiary of HCL Technologies Limited, a $5.3 billion global IT services company Property sublet on a co-terminus lease to Spargonet Consulting Plc at 159,146 per annum. Spargonet Consulting Plc is a software consultancy business established in 2000 with a D&B rating of 1A1 reflecting a minimum risk of business failure. We are instructed to seek offers in the region of 1,500,000 (One million, five hundred thousand pounds), subject to contract and exclusive of VAT, reflecting a net initial yield of 10.04% after allowing for the usual costs of purchase.

3 Location Egham is an affluent and historic M25 town situated 2 miles west of Staines, 7 miles south east of Windsor and 20 miles south west of Central London. Communications are excellent - the M25 (Junction 13) motorway is only 1.5 miles from the town, providing easy access to the M3, M4 and M40 motorways; Heathrow International Airport is only 5 miles to the north east and; Egham Railway Station provides a frequent direct rail service to London (Waterloo) with a journey time of 35 minutes. Major employers in Egham include Proctor & Gamble, Royal Holloway University of London, Gartner, Enterprise Rent-A-Car, Maranello, RIM and HCL Axon. LUTON M1 A1(M) M11 OXFORD HIGH WYCOMBE WATFORD M25 M40 SWINDON M4 A34 READING A404 A4 WINDSOR EGHAM HEATHROW LONDON NEWBURY A33 M3 A30 M25 M2 M23 A30 A3 GUILDFORD GATWICK

4 Situation 13 The property is situated at the western end of the High Street close to the junction with the A30 Egham By Pass and within a few minutes walk of Egham Railway Station. RIV ER TH AM M25 ES A308 A High Street B388 B388 A308 High St Egham Station B388 A30 M25 B3376 B388

5 Description The property was constructed in 1997 and comprises sq.m. (6,212 sq.ft.) on ground and two upper floors. It is of steel frame construction with brick elevations, aluminium framed double glazed windows and a pitched reconstituted slate roof. The office specification includes central heating, suspended ceilings with Cat II lighting, a fully accessible raised floor, an 8 person passenger lift and male and female toilets on each floor. Please note that the tenant has installed air conditioning units within the offices. The car parking ratio of 1:177 sq.ft. is exceptional with 35 surface spaces provided. Typical Floor Plan LIFT

6 Accommodation The property comprises the following net internal floor areas: Floor Accommodation Area sq.m. Area sq.ft. Ground Offices ,167 First Offices ,172 Second Offices , ,015 Mansard Storage Total ,212

7 Tenure Freehold Tenancy The property is let to Axon Solutions Limited on a full repairing and insuring lease expiring on 23rd April 2013 at a current rent of 159,400 per annum ( psf overall). Axon sublet the entire premises to Spargonet Consulting Plc in November 2003 on a coterminus lease at a rent of 159,146 per annum. The sublease is excluded from the security of tenure provisions within the Landlord and Tenant Act The Tenant Axon Solutions Limited is a management consultancy business with a D&B rating for the year ending 30th June 2010 of 4A1 reflecting a minimum risk of business failure and a tangible net worth of m. It is a wholly owned subsidiary of HCL Technologies Limited, a $5.3 billion global IT services company with over 71,000 employees. The subtenant, Spargonet Consulting Plc, is a software consultancy business established in For the year ending 28th February 2010 it had pre-tax profits of 473,000 on a turnover of 9.036m and a D&B rating of 1A1 reflecting a minimum risk of business failure and a tangible net worth of 1.132m. Full accounts are available upon request. Egham Investment Market The most recent office investment transactions are: Centrum House, Church Road - 1,527 sq.m. (16,437 sq.ft.) office let to Research In Motion UK Limited on a lease expiring in March 2016 at a rent of psf. Freehold bought in Q by West Sussex Council Superannuation Fund for 5.94m reflecting a net yield of 8.01%. Axon Centre, Church Road - 2,329 sq.m. (25,064 sq.ft.) office let to Axon Solutions Limited on a lease expiring in July 2017 at a rent of psf. Freehold bought in Q by Threadneedle Property Investments Limited for 8.19m reflecting a net yield of 8.00%.

8 VAT The property is elected for VAT. Proposal We are instructed to seek offers in the region of: 1,500,000 (One million, five hundred thousand pounds), subject to contract and exclusive of VAT, reflecting a net initial yield of 10.04% after allowing for the usual costs of purchase. Further information For further information or to arrange an inspection then please contact either: Lawrence Gluckstein Direct Line: lg@johnmilesco.com Neil Edwards Direct Line: neil@johnmilesco.com Chartered Surveyors 76 New Bond Street London W1S 1RX Misrepresentation Act: Messrs John Miles & Company (Investments Surveyors) Ltd for themselves and for the vendors or lessors of this property whose agents they are give notice that (i) the particulars are set out as a general outline for the guidance of the intending purchasers and do not constitute part of an offer or contract; (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given without responsibility and any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of John Miles & Company (Investment Surveyors) Ltd has any authority to make or give any representation or warranty whatever in relation to this property. January 2011.