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

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 578.68 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 (£25.66 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.

LONDON

BRISTOL

SWANSEA

BIDEFORD

SALISBURYWINCHESTER

GUILDFORD

HIGHWYCOMBE

WATFORD

CANTERBURY

SHREWS BURY

OXFORD

SWINDON

READING

CIRENCESTER

BATH

TORQUAYPLYMOUTH

BODMIN

PENZANCE

HONITON

MILTONKEYNES

LUTONCHELTENHAM

EVESHAMHEREFORD

WORCESTER

GLOUCESTER

BEDFORD

WARWICK

IPSWICH

NORWICH

KING'S LYNN

BARNSTAPLE

EXETERSOUTHAMPTON

WELSHPOOL

ABERYSTWYTH

CARMARTHEN

WREXHAM

LIVERPOOL

BLACKPOOL

NOTTINGHAM

DERBY

STOKE-ON-TRENT

SHEFFIELD

BURYST EDMUNDS

DOVER

FOLKESTONE

BRIGHTON

NORTHAMPTON

NEWPORT

CAMBRIDGE

CHICHESTER

MANCHESTER

BRADFORD LEEDS

YORK

SCARBOROUGH

MIDDLESBOROUGH

NEWCASTLE UPON TYNE

DONCASTER

CAERNARFON

CARLISLE

GLASGOW

ABERDEEN

PETERHEAD

INVERNESS

WICK

FORTWILLIAM

OBAN

STANDREWS

PERTH

DUNDEE

STIRLING

BERWICKUPON-TWEED

DUMFRIES

LINCOLN

BOSTON

PETERBOROUGH

LEICESTER

CHESTER

BRECON

WOLVERHAMPTON

COVENTRY

EDINBURGH

BIRMINGHAM

NEWBURY

A31

A30

A36

A36

A3

A4

A4

A404A34

A33

A30

A30

A35

A303

A303

A35

HEATHROW

GATWICK

WINDSOR

EGHAM

A30

M5

M50

M5

M40

M42

M42

M54

M56

M56M53

M57

M58

M55

M65

M74

M77

M90

M80

M8

M9

M9

M66

M61

M62

M40

M6

M6

M6

M6

M69

M4

M4

M1

M1

M18

M1

M3 M25

M23

M25

M27 A3(M)

M2

M20

A1(M) M11

A1(M)

A1(M)

A66(M)

M5

M180

LocationEgham 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.

Egham Station

RIVER THAMES

A30

A30

High St

B388

B388

B388

B388

B3376

A308

A308

A30

High St

188 High Street

M25

M25

13SituationThe 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.

DescriptionThe property was constructed in 1997 and comprises 578.68 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.

LIFT

Typical Floor Plan

AccommodationThe property comprises the following net internal floor areas:

Floor Accommodation Area sq.m. Area sq.ft.

Ground Offices 201.32 2,167

First Offices 201.78 2,172

Second Offices 155.70 1,676

558.80 6,015

Mansard Storage 19.88 214

Total 578.68 6,212

TenureFreehold

TenancyThe 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 (£25.66 psf overall).

Axon sublet the entire premises to Spargonet Consulting Plc in November 2003 on a co-terminus 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 1954.

The TenantAxon 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 £24.869m. 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 2000. 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 MarketThe 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 £31.09 psf. Freehold bought in Q4 2010 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 £27.64 psf. Freehold bought in Q4 2010 by Threadneedle Property Investments Limited for £8.19m reflecting a net yield of 8.00%.

VATThe property is elected for VAT.

ProposalWe 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 informationFor further information or to arrange aninspection then please contact either:

Lawrence GlucksteinDirect Line: 020 7659 9742email: lg@johnmilesco.com

Neil EdwardsDirect Line: 020 7659 9741email: neil@johnmilesco.com

Chartered Surveyors 76 New Bond Street London W1S 1RX

Misrepresentation Act:Messrs John Miles & Company (Investments Surveyors) Ltd for themselves andfor the vendors or lessors of this property whose agents they are give noticethat (i) the particulars are set out as a general outline for the guidance of theintending purchasers and do not constitute part of an offer or contract; (ii) alldescriptions, dimensions, references to condition and necessary permissionsfor 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.