LCP Proudreed PLC - Irish Stock Exchange

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Property Number 10 Property Name Shaw Lane Industrial Estate, Doncaster Property Type Industrial/Warehouse Region Yorks & Humber Year Built 1970/80s Year Refurbished N/A Total Area (sq ft) 169,601 Occupancy Rate (%) 95% Market Value (GBP) 6,695,000 Vacant Possession Value (GBP) 5,550,000 Passing Rent (GBP) 523,960 ERV (GBP) 558,764 Number of Units 16 Number of Tenants 14 Property Tenure Freehold Ground Rent (GBP) N/A Initial Yield (%) 7.60 Reversionary Yield (%) 7.89 Net Equivalent Yield (%) 7.80 3. Tenant Concentration (Top 10 Tenants) Tenant Name Passing Rent (GBP) % of Total Area (sq ft) % of Total Property/Properties Occupied S&P/ Fitch Sainsbury’s Supermarkets Ltd. 1,814,867 6.3% 108,718 2.3% Butterley Park, Ripley and Mill View, March BBB−/BBB Magnet Ltd. 904,175 3.1% 198,826 4.3% 17 properties NR/NR Somerfield Stores Ltd. 857,650 3.0% 115,781 2.5% 5 properties NR/NR Linpac Metal Packaging Ltd. 845,000 2.9% 241,000 5.2% Adwest Eastern Site NR/NR Woodley, Reading Bradford & Bingley Plc. 728,100 2.5% 39,925 0.9% 14 properties NR/NR Homebase Ltd. 712,050 2.5% 65,685 1.4% Roman Way R/P, Kidderminster Rd, Droitwich NR/NR Ofquest Ltd. 426,000 1.5% 108,200 2.3% Irton House, NR/NR Chalgrove, Oxford Littlewoods Organisation Plc. 415,000 1.4% 49,819 1.1% Wulfrun Centre, NR/NR Wolverhampton Kay-Metzeler Ltd. 371,500 1.3% 81,615 1.8% New Street, NR/NR Chelmsford, Essex T & S Stores 2003 Ltd. 351,256 1.2% 33,390 0.7% 9 Properties NR/NR Sub Total Top 10 Tenants 7,425,598 TOTAL <strong>LCP</strong> Real Estate 28,766,013 Ancillary Income (Car Park – £861,595 per year) representing 3.0% of Total Rent is not included in the Top 10 Tenants. 21
4. Summary of Tenure Tenure of Properties Number of Properties Passing Rent (GBP) % of Total Freehold 96 21,847,285 76% Leasehold 11 6,129,210 21% Long Lease 2 732,868 3% Freehold/LL 1 56,650 0% Total 110 28,766,013 100% 5. Summary of expiry of Occupational Leases (assuming exercise of first break option) The figures cited as percentages in the following table are rounded either up or down as relevant to the nearest tenth of a decimal. As a result, the total may not equal 100 per cent. Year of Expiration Number of Leases Passing Rent (GBP) % of Total Cumulative % of Passing Rent Vacant unit/Other 67 1,478,008 5.1% 5.1% 2005 71 1,861,302 6.5% 11.6% 2006 70 1,116,196 3.9% 15.5% 2007 88 2,459,623 8.6% 24.0% 2008 67 2,546,013 8.9% 32.9% 2009 55 2,811,753 9.8% 42.7% 2010 32 1,000,386 3.5% 46.1% 2011 31 1,144,146 4.0% 50.1% 2012 29 1,019,820 3.5% 53.7% 2013 37 1,558,062 5.4% 59.1% 2014 53 1,979,939 6.9% 66.0% 2015 19 625,421 2.2% 68.1% 2016 20 1,336,222 4.6% 72.8% 2017 27 1,511,518 5.3% 78.0% 2018 10 1,250,990 4.3% 82.4% After 2018 101 5,066,614 17.6% 100.0% Total 777 28,766,013 100% 6. Regional Weightings The figures cited as percentages in the following table are rounded either up or down as relevant to the nearest tenth of a decimal. As a result, the total may not equal 100 per cent. Region Number of Properties Aggregate Property Value (GBP) % by Aggregate Property Value Lettable Area (aggregate sq ft) Passing Rent (GBP per sq ft) Passing Rent (GBP) Total Vacant Area (sq ft) East Midlands 5 31,765,000 8.1% 167,110 10.5 1,749,071 — London 4 10,435,000 2.7% 65,158 11.0 716,425 — North England 6 13,540,000 3.5% 404,775 2.8 1,130,959 19,325 Northwest England 18 62,845,000 16.1% 905,955 5.6 5,065,387 14,364 Southeast England 41 123,200,000 31.5% 1,609,558 5.4 8,681,975 21,329 Southwest England 11 26,860,000 6.9% 409,626 4.8 1,981,722 — Wales 2 3,200,000 0.8% 40,614 5.3 215,870 — West Midlands 16 102,785,000 26.3% 751,438 10.6 7,973,064 22,392 Yorks & Humber 7 16,890,000 4.3% 285,048 4.4 1,251,540 15,236 Total 110 391,520,000 100% 4,639,282 6.2 (weighted average) 28,766,013 92,646 22
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 24 and 25: Property Number 6 Property Name Adw
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
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(a) a certificate is provided by th
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Floating charges held by the Borrow
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Each Accountholder will pay to each
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(D) details of any steps being take
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(iii) to provide collateral to secu
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in the prepayment of the Commercial
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a view to achieving a reasonable re
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Where amounts are to be provided fo
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(a) first, in or towards satisfacti
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(d) fourth, in or towards satisfact
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5. The Hedging Agreements For a fur
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VALUATION REPORTS London & Cambridg
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4.0 VALUATION ASSUMPTIONS 4.1 SOURC
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APPENDIX 1 Ref No Property Descript
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Ref No Property Description & Tenur
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Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
APPENDIX 2 Properties Requiring Mea
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295 SWINTON, Swinton Hall Industria
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issued by the Royal Institution of
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previously seen environmental repor
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APPENDIX 2 Properties Requiring Mea
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Directors and Secretary The directo
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Accountants Report to the Members o
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THE BORROWERS L.C.P. Real Estate Li
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Name Business Address Other Princip
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The accompanying notes are an integ
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Proudreed Real Estate Limited Intro
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Independent Auditors’ Report to t
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5. Reconciliation of Shareholders
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THE HEDGING PROVIDERS AND THE LIQUI
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1. DEFINITIONS AND PRINCIPLES OF CO
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‘‘Definitive Note’’ means i
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(ii) the making of an administratio
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the Issuer Account Bank and Cash Ma
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(ii) in relation to any Definitive
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‘‘Principal Paying Agent’’
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General Interpretation (b) In these
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Form of Definitive Notes (f) Defini
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Default), the Cash Manager shall on
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(ii) (iii) (iv) (v) that such amoun
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Separateness (k) permit or consent
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(i) determine the Rate of Interest
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(iii) (iv) Agreement or such other
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insufficient after payment of all o
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Change in Currency (k) (i) If at an
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11. ENFORCEMENT (a) (b) At any time
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Separate meetings of different Clas
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Removal and Replacement of Note Tru
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Although a Meeting of Noteholders c
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FORM OF THE NOTES General The Notes
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purposes as realising profits, gain
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In addition, until 40 days after th
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(b) the Valuation Reports; (c) the
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(c) in the case of shares, such for
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Class A Notes means the Original Cl
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Environment means all or any of the
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Further Class C Notes has the meani
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(ii) any fees and expenses payable
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Investor Presentation Materials mea
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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
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Preliminary Offering Circular means
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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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