LCP Proudreed PLC - Irish Stock Exchange

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Property Number 2 Property Name Arcadian Centre, Birmingham Property Type Retail Region West Midlands Year Built 1989 Year Refurbished 2000 Total Area (sq ft) 117,744 Occupancy Rate (%) 100% Market Value (GBP) 27,740,000 Vacant Possession Value (GBP) 24,580,000 Passing Rent (GBP) 2,320,200 ERV (GBP) 2,325,964 Number of Units 48 Number of Tenants 48 Property Tenure Freehold Ground Rent (GBP) N/A Initial Yield (%) 7.02 Reversionary Yield (%) 7.09 Net Equivalent Yield (%) 6.00/8.00 2 2 Range depending on lease length and covenant. Property Number 3 Property Name Hardshaw Centre, St. Helens Property Type Retail Region Northwest England Year Built 1982 Year Refurbished 1996 Total Area (sq ft) 143,046 Occupancy Rate (%) 100% Market Value (GBP) 17,730,000 Vacant Possession Value (GBP) 14,300,000 Passing Rent (GBP) 1,616,461 ERV (GBP) 1,736,104 Number of Units 27 Number of Tenants 27 Property Tenure Leasehold Ground Rent (GBP) 293,000 Initial Yield (%) 7.06 Reversionary Yield (%) 7.63 Net Equivalent Yield (%) 7.25 17
Property Number 4 Property Name Butterley Park, Ripley, Derbyshire Property Type Retail Region East Midlands Year Built 1990/2005 Year Refurbished N/A Total Area (sq ft) 75,363 Occupancy Rate (%) 100% Market Value (GBP) 24,230,000 Vacant Possession Value (GBP) 18,270,000 Passing Rent (GBP) 1,281,171 ERV (GBP) 1,281,149 Number of Units 2 Number of Tenants 1 Property Tenure Freehold Ground Rent (GBP) N/A Initial Yield (%) 5.00 Reversionary Yield (%) 5.00 Net Equivalent Yield (%) 5.00 Property Number 5 Property Name Churchill Shopping Centre, Dudley Property Type Retail Region West Midlands Year Built 1967/1980 Year Refurbished 1993 Total Area (sq ft) 213,587 Occupancy Rate (%) 91% Market Value (GBP) 12,560,000 Vacant Possession Value (GBP) 10,880,000 Passing Rent (GBP) 1,116,588 ERV (GBP) 1,212,873 Number of Units 61 Number of Tenants 52 Property Tenure Freehold Ground Rent (GBP) N/A Initial Yield (%) 7.14 Reversionary Yield(%) 7.89 Net Equivalent Yield (%) 6.00/9.00 3 3 Range based on length of lease and covenant. 18
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 20 and 21: Property Name Property Address Type
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
Page 104 and 105:
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
Page 176 and 177:
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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LCP Proudreed PLC - Irish Stock Exchange

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