LCP Proudreed PLC - Irish Stock Exchange

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Property Name Property Address Type Region Passing Rent (GBP) ERV (GBP) Market Value (GBP) Area (sq ft) Occupancy Hanover Buildings 1-9 Church Lane/3-5 Lidget Hill Sealand Industrial Estate Lakes Estate Shopping Centre The Strand, Southampton Retail Southeast England Pudsey Retail Yorks & Humber Sealand Road, Chester Larkswood Road, Redcar Industrial Retail Northwest England North England Bradshawgate Leigh Retail Northwest England 117/123 King Street, South Shields Retail North England Grain Estate Adwest Central Site Harlow Street, Liverpool Headley Road East, Woodley, Reading Industrial/ Warehouse Industrial Northwest England Southeast England Stratford Road Shirley, Birmingham Retail West Midlands 116 High Street/33 Cambray Place Queenborough Industrial Estate Swinton Hall Industrial Estate Cheltenham Retail Southwest England Isle of Sheppey Warehouse/ Distribution Southeast England Pendlebury Road Salford, Manchester Industrial/ Warehouse Northwest England High Street, Sutton Sutton Retail Southeast England Sunrise Parkway Linford Wood, Milton Keynes Warehouse/ Distribution Southeast England Pavillions Way Brackley, Northants Retail Southeast England Grafton Close Station Road Bradford Road Bordeaux Close Wellingborough, Northants Wiltshire Drive, Wallsend Guiseley, West Yorkshire Duston, Northampton Retail Retail Retail Retail Southeast England North England Yorks & Humber Southeast England Glenmoor Road Ferndown, Dorset Retail Southwest England Egerton Gate 2 The Cross/1 Trinity Passage High Street Shenley Brook End,Milton Keynes Retail Southeast England Worcester Retail West Midlands Amblecote, Stourbridge Retail West Midlands 121,750 142,178 1,955,000 14,433 91.2% 117,375 128,054 1,565,000 7,986 100.0% 115,000 115,000 1,500,000 19,992 100.0% 106,200 107,720 1,150,000 44,181 100.0% 105,850 106,184 1,500,000 4,956 100.0% 105,340 110,750 1,560,000 6,048 100.0% 104,805 108,748 1,100,000 48,622 100.0% 95,016 96,233 1,210,000 25,662 100.0% 92,000 95,041 1,375,000 11,425 100.0% 89,550 110,800 1,730,000 6,285 100.0% 87,495 89,867 950,000 63,038 100.0% 86,000 92,365 1,100,000 28,420 100.0% 81,000 95,655 1,250,000 4,071 100.0% 73,000 82,540 990,000 8,254 100.0% 72,475 71,488 1,175,000 8,523 100.0% 72,375 76,020 1,130,000 6,775 100.0% 71,500 71,500 1,100,000 34,166 100.0% 70,000 71,500 1,060,000 13,048 100.0% 66,900 67,129 1,035,000 8,992 100.0% 65,850 71,327 965,000 9,731 100.0% 64,706 62,746 1,020,000 7,579 100.0% 63,875 65,470 975,000 6,895 100.0% 60,000 62,664 990,000 17,904 100.0% Cavendish Road Balham, London Retail London 59,500 60,500 935,000 7,056 100.0% 54-60 Clifton Street/35/39 Abingdon Street Blackpool Retail Northwest England 59,300 59,872 815,000 7,008 100.0% 1 Thames Street Kingston Upon Thames 16/20 Cloth Hall Street Holm Square Walworth Industrial Estate Fyfield Barrow Retail Southeast England Huddersfield Retail Yorks & Humber Holm Way, Bicester, Oxon 2 North Way, Andover Walnut Tree, Milton Keynes Retail Industrial Retail Southeast England Southeast England Southeast England 45-51 Barnet Road Potters Bar, Herts Retail Southeast England Blenheim Industrial Estate Dettingen Way, St.Edmunds Retail Southeast England Highgate Kendal Retail North England Copt Oak Court Narborough, Leicester Retail East Midlands 57,600 57,700 1,065,000 2,790 100.0% 56,650 56,673 760,000 6,658 100.0% 55,275 55,527 875,000 7,642 100.0% 55,000 59,400 500,000 11,332 100.0% 54,250 54,252 930,000 4,783 100.0% 52,500 52,500 825,000 10,875 100.0% 52,000 52,000 825,000 10,897 100.0% 51,500 51,500 780,000 6,286 100.0% 50,900 53,260 845,000 9,496 100.0% 15
Property Name Property Address Type Region 93 Old Christchurch Road Bournemouth Retail Southwest England 58/62 Regent Street Kingswood, Bristol Retail Southwest England Elder Road Cotbridge, Stoke-on-Trent Retail West Midlands 6/10 Wallgate Wigan Retail Northwest England Cogges Hill Road Witney, Oxon Retail Southeast England Jubilee Street Ramsey Road Monkmoor Road Snow Hill, Melton Mowbray Leamington Spa, Warwickshire Shrewsbury, Shropshire Retail Retail Retail East Midlands West Midlands Southwest England Arkwright Road Ipswich, Suffolk Retail Southeast England Blockhouse Close Worcester Retail West Midlands Euston Street Leicester Warehouse/ Distribution East Midlands Elthorne Way Greene Park Dr, Newport Pagnell Retail Southeast England Passing Rent (GBP) ERV (GBP) Market Value (GBP) Area (sq ft) Occupancy 50,375 54,863 855,000 4,104 100.0% 50,350 63,040 870,000 4,353 100.0% 50,000 50,250 790,000 11,043 100.0% 49,350 66,184 900,000 4,753 100.0% 47,850 42,083 670,000 5,432 100.0% 43,000 45,355 710,000 9,071 100.0% 40,375 40,379 640,000 7,902 100.0% 40,000 41,892 660,000 11,969 100.0% 36,300 37,589 590,000 8,325 100.0% 35,500 35,700 560,000 8,924 100.0% 34,750 66,700 595,000 23,000 100.0% 33,350 34,721 575,000 6,504 100.0% Llandbadarn Fawr Aberystwyth Retail Wales 28,500 34,018 400,000 10,231 100.0% Industrial Estate Greyfriars Place Stafford Retail West Midlands 28,000 30,820 490,000 7,705 100.0% Millbuck Trading Estate Willenhall Industrial Estate Wolverhampton Retail West Midlands Willenhall Retail West Midlands 27,000 28,395 450,000 9,465 100.0% 26,500 28,600 460,000 8,290 100.0% Total 28,766,013 30,320,034 391,520,000 4,639,282 98.7% 2. Details of the Top 10 Secured Properties (by Passing Rent) Property Number 1 Property Name Wulfrun Centre, Wolverhampton Property Type Retail Region West Midlands Year Built 1967 Year Refurbished 2000 Total Area (sq ft) 194,871 Occupancy Rate (%) 99% Market Value (GBP) 41,920,000 Vacant Possession Value (GBP) 36,465,000 Passing Rent (GBP) 3,154,236 ERV (GBP) 3,310,134 Number of Units 75 Number of Tenants 71 Property Tenure Leasehold Ground Rent (GBP) 180,000 Initial Yield (%) 6.27 Reversionary Yield (%) 6.74 Net Equivalent Yield (%) 6.00/8.00 1 1 Range of Yields based on lease and covenant. 16
Page 1: LCP Proudreed PLC incorporated with
Page 4 and 5: The Issuer accepts responsibility f
Page 6 and 7: CONTENTS SECTION PAGE PRINCIPAL CHA
Page 8 and 9: PRINCIPAL CHARACTERISTICS OF THE CO
Page 10 and 11: Security: Insurance: Valuation: 70
Page 12 and 13: TRANSACTION OVERVIEW The informatio
Page 14 and 15: TRANSACTION PARTIES The Issuer LCP
Page 16 and 17: SPV Management Limited’s appointm
Page 18 and 19: Statistical Analysis Unless stated
Page 22 and 23: Property Number 2 Property Name Arc
Page 24 and 25: Property Number 6 Property Name Adw
Page 26 and 27: Property Number 10 Property Name Sh
Page 28 and 29: 7. Property Size The figures cited
Page 30 and 31: Property Number 2 Property Name Alp
Page 32 and 33: 3. Tenant Concentration (Top 10 Ten
Page 34 and 35: 8. Sectoral Weightings: (Industrial
Page 36 and 37: Interest Payment Date falling in Fe
Page 38 and 39: RISK FACTORS The following is a sum
Page 40 and 41: available to be applied by the Issu
Page 42 and 43: maturity of the Notes, enforcement
Page 44 and 45: emoval, rebuilding, reinstating and
Page 46 and 47: assurance that a Borrower will exer
Page 48 and 49: which is intended to ensure that th
Page 50 and 51: egulations will not occur in the fu
Page 52 and 53: landlord to forfeit the Headlease i
Page 54 and 55: 3. Legal and regulatory considerati
Page 56 and 57: A company is eligible for a morator
Page 58 and 59: displayed and (c) applicable provis
Page 60 and 61: Withholding tax in respect of the C
Page 62 and 63: SUMMARY OF PRINCIPAL DOCUMENTS Belo
Page 64 and 65: on the two Loan Calculation Dates i
Page 66 and 67: substantially as it has been conduc
Page 68 and 69: A breach of a Financial Covenant ma
Page 70 and 71:
• not to carry out and/or agree t
Page 72 and 73:
(f) (g) (h) (i) (j) (k) (l) (m) (n)
Page 74 and 75:
(vi) in the case of Same-Day Substi
Page 76 and 77:
of the Approved Valuer) structural
Page 78 and 79:
(a) a certificate is provided by th
Page 80 and 81:
Floating charges held by the Borrow
Page 82 and 83:
Each Accountholder will pay to each
Page 84 and 85:
(D) details of any steps being take
Page 86 and 87:
(iii) to provide collateral to secu
Page 88 and 89:
in the prepayment of the Commercial
Page 90 and 91:
a view to achieving a reasonable re
Page 92 and 93:
Where amounts are to be provided fo
Page 94 and 95:
(a) first, in or towards satisfacti
Page 96 and 97:
(d) fourth, in or towards satisfact
Page 98 and 99:
5. The Hedging Agreements For a fur
Page 100 and 101:
VALUATION REPORTS London & Cambridg
Page 102 and 103:
4.0 VALUATION ASSUMPTIONS 4.1 SOURC
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APPENDIX 1 Ref No Property Descript
Page 106 and 107:
Ref No Property Description & Tenur
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
APPENDIX 2 Properties Requiring Mea
Page 116 and 117:
295 SWINTON, Swinton Hall Industria
Page 118 and 119:
issued by the Royal Institution of
Page 120 and 121:
previously seen environmental repor
Page 122 and 123:
APPENDIX 2 Properties Requiring Mea
Page 124 and 125:
Directors and Secretary The directo
Page 126 and 127:
Accountants Report to the Members o
Page 128 and 129:
THE BORROWERS L.C.P. Real Estate Li
Page 130 and 131:
Name Business Address Other Princip
Page 132 and 133:
The accompanying notes are an integ
Page 134 and 135:
Proudreed Real Estate Limited Intro
Page 136 and 137:
Independent Auditors’ Report to t
Page 138 and 139:
5. Reconciliation of Shareholders
Page 140 and 141:
THE HEDGING PROVIDERS AND THE LIQUI
Page 142 and 143:
1. DEFINITIONS AND PRINCIPLES OF CO
Page 144 and 145:
‘‘Definitive Note’’ means i
Page 146 and 147:
(ii) the making of an administratio
Page 148 and 149:
the Issuer Account Bank and Cash Ma
Page 150 and 151:
(ii) in relation to any Definitive
Page 152 and 153:
‘‘Principal Paying Agent’’
Page 154 and 155:
General Interpretation (b) In these
Page 156 and 157:
Form of Definitive Notes (f) Defini
Page 158 and 159:
Default), the Cash Manager shall on
Page 160 and 161:
(ii) (iii) (iv) (v) that such amoun
Page 162 and 163:
Separateness (k) permit or consent
Page 164 and 165:
(i) determine the Rate of Interest
Page 166 and 167:
(iii) (iv) Agreement or such other
Page 168 and 169:
insufficient after payment of all o
Page 170 and 171:
Change in Currency (k) (i) If at an
Page 172 and 173:
11. ENFORCEMENT (a) (b) At any time
Page 174 and 175:
Separate meetings of different Clas
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Removal and Replacement of Note Tru
Page 178 and 179:
Although a Meeting of Noteholders c
Page 180 and 181:
FORM OF THE NOTES General The Notes
Page 182 and 183:
purposes as realising profits, gain
Page 184 and 185:
In addition, until 40 days after th
Page 186 and 187:
(b) the Valuation Reports; (c) the
Page 188 and 189:
(c) in the case of shares, such for
Page 190 and 191:
Class A Notes means the Original Cl
Page 192 and 193:
Environment means all or any of the
Page 194 and 195:
Further Class C Notes has the meani
Page 196 and 197:
(ii) any fees and expenses payable
Page 198 and 199:
Investor Presentation Materials mea
Page 200 and 201:
to prime banks in the London inter-
Page 202 and 203:
provided that, in determining wheth
Page 204 and 205:
Obligor Transaction Documents means
Page 206 and 207:
provided that for each of the follo
Page 208 and 209:
Preliminary Offering Circular means
Page 210 and 211:
Period, the Reference Amount will b
Page 212 and 213:
Tax Deeds of Covenant means the two
Page 215:
Capital Printing Systems (UK) Limit
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