LCP Proudreed PLC - Irish Stock Exchange

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Property Number 6 Property Name Adwest Eastern Site, Reading Property Type Industrial/Warehouse Region Southeast England Year Built 1930/1940s Year Refurbished N/A Total Area (sq ft) 241,000 Occupancy Rate (%) 100% Market Value (GBP) 10,635,000 Vacant Possession Value (GBP) 9,020,000 Passing Rent (GBP) 845,000 ERV (GBP) 843,500 Number of Units 1 Number of Tenants 1 Property Tenure Freehold Ground Rent (GBP) N/A Initial Yield (%) 7.51 Reversionary Yield (%) 7.50 Net Equivalent Yield (%) 7.50 Property Number 7 Property Name Irton House, Chalgrove, Oxford Property Type Industrial/Warehouse Region Southeast England Year Built 1970s Year Refurbished N/A Total Area (sq ft) 173,980 Occupancy Rate (%) 100% Market Value (GBP) 9,500,000 Vacant Possession Value (GBP) 6,950,000 Passing Rent (GBP) 776,000 ERV (GBP) 781,124 Number of Units 2 Number of Tenants 2 Property Tenure Freehold Ground Rent (GBP) N/A Initial Yield (%) 7.72 Reversionary Yield (%) 7.78 Net Equivalent Yield (%) 7.75 19
Property Number 8 Property Name Enterprise City, Spennymoor Co. Durham Property Type Industrial/Warehouse Region North England Year Built 1960/1989 Year Refurbished 1 st Floor Wing A 2002 GR/1 st Floor Wing B 2002 Total Area (sq ft) 305,329 Occupancy Rate (%) 94% Market Value (GBP) 7,100,000 Vacant Possession Value (GBP) 5,600,000 Passing Rent (GBP) 673,919 ERV (GBP) 755,776 Number of Units 49 Number of Tenants 45 Property Tenure Freehold Ground Rent (GBP) N/A Initial Yield (%) 8.89 Reversionary Yield (%) 10.07 Net Equivalent Yield (%) 9.3 Property Number 9 Property Name Mill View, March, Cambridge Property Type Retail Region Southeast England Year Built 1996 Year Refurbished N/A Total Area (sq ft) 33,355 Occupancy Rate (%) 100% Market Value (GBP) 10,090,000 Vacant Possession Value (GBP) 8,080,000 Passing Rent (GBP) 533,696 ERV (GBP) 533,696 Number of Units 1 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 20
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 22 and 23: Property Number 2 Property Name Arc
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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