St James's Investment

SIX

ST. JAMES’S SQUARE LONDON

6 ST. JAMES’S SQUARE

2

SIX

ST. JAMES’S SQUARE LONDON

Extremely rare opportunity to acquire one of the finest freehold office buildings in the heart of St. James’s.

SIX ST. JAMES’S SQUARE

INVESTMENT HIGHLIGHTS Six St. James’s Square offers an exceptional investment opportunity with the following key characteristics: • Rare trophy freehold St. James’s property.

• Prominent position on St. James’s Square, arguably the most prestigious location in London.

• Striking, brand new, highly-specified Grade A headquarters office building comprising 121,795 sq ft (11,315 sq m) of

accommodation over lower ground, ground and six upper floors with six secure car parking spaces.

• Approximately 70% will be let to Rio Tinto London Limited, guaranteed by Rio Tinto European Holdings Limited, as Rio

Tinto’s global headquarters on a new 15 year lease. The rent will be subject to five yearly compound CPI increases, with a floor

and cap of 1% and 3% per annum respectively.

• The remaining accommodation will be vacant but offered subject to a rent, rates and service charge top-up, providing an

investor with a superb opportunity to drive the performance of the investment and capture strong forecast rental growth.

• Total income of £10,717,035 pax, reflecting £87.99 per sq ft overall, assuming a vendor top-up on the vacant accommodation.

• Offers are invited, subject to contract and exclusive of VAT.

Prominent position on St. James’s Square, arguably the most prestigious location in London.

3

REGENT STREET

PICCADILLY LEICESTER CIRCUS SQUARE

COVENT GARDEN

THE CITY

SIX

ST. JAMES’S SQUARE

CHARING TRAFALGAR CROSS STATION SQUARE

HORSE GUARDS PARADE

THE MALL

ST. JAMES’S PARK

HOUSES OF PARLIAMENT

Six St. James’s Square is located in the heart of London’s West End, in the exclusive St. James’s district.

SIX ST. JAMES’S SQUARE

LOCATION Six St. James’s Square, one of the most prestigious addresses in London, is located in the heart of the exclusive and historic St. James’s district, in London’s West End. St. James’s was first developed in the 1660s by Henry Jermyn, 1st Earl of St. Albans after he was granted a freehold by King Charles II to build on the area. Jermyn’s design transformed St. James’s from what was originally parkland into a grand residential neighbourhood with a grid system of streets centred around St. James’s Square.

The area is internationally recognised as one of London’s premier office destinations and is regarded as the West End’s most esteemed and strategic business location.

It is also synonymous with luxury retailing and highly sought after residential addresses.

The immediate vicinity provides some of the capital’s key headquarters buildings and has attracted high calibre tenants including BP plc, Chatham House, The Economist Group, HSBC and McKinsey & Company. This location appeals to occupiers due to the quality and exclusivity of the location and its immediate access to some of the finest amenities in London.

Six St. James’s Square is situated only moments away from Jermyn Street and Piccadilly, and within easy walking distance of the world-renowned retailing of Bond Street and Regent Street. Jermyn Street holds a worldwide reputation for high quality British artistry and craftsmanship while Piccadilly and Regent Street offer

an extensive mix of well-known high street names and international brands. World famous retail brands in close proximity include Fortnum & Mason, Beretta, Berry Bros & Rudd and Turnbull & Asser. A number of hotels, including The Ritz and Dukes, as well as restaurants such as The Avenue, Le Caprice and The Wolseley are situated nearby. The area also has a long standing history as the home to many of London’s famous and exclusive private members clubs including White’s, The Royal Automobile Club, Oxford & Cambridge Club, The East India Club and The In & Out Club.

St. James’s boasts proximity to a number of London’s top tourist attractions including Buckingham Palace, St. James’s Palace, The National Gallery, Houses of Parliament and the Royal Academy.

The Crown Estate has extensive freehold ownership in St. James’s managing a 4 million square foot portfolio which comprises nearly 50% of the buildings in the area and is valued at in excess of £1 billion. St. James’s is currently the focus of a major ten year £500 million investment programme by The Crown Estate. Their aim is to further enhance and refine the area while maintaining its unique and distinct nature. This strategy includes an enhancement and re-profiling of the retail offering; strategic portfolio management; and repositioning and improving the buildings in the area toward high-end business users. The investment will also build on the area’s residential character and improve the public realm by redressing the balance between pedestrians and motorists.

Right: St. James's Square 6

SIX ST. JAMES’S SQUARE

00

SIX ST. JAMES’S SQUARE

SITUATION & COMMUNICATIONS Six St. James’s Square commands a highly prominent position in the north-eastern corner of the square with frontages onto both St. James’s Square and Babmaes Street.

St. Pancras International station, which operates the Eurostar service to continental Europe, is only a short journey away.

The Property benefits from excellent transport links with Piccadilly Circus (Piccadilly and Bakerloo lines), Charing Cross (Northern and Bakerloo Lines) and Green Park (Victoria, Piccadilly and Jubilee lines) Underground stations all within close proximity. These stations provide fast and direct access to all of London’s mainline railway stations including Paddington, King’s Cross, Euston, Waterloo and Victoria. Heathrow Airport is only 40 minutes away via the Heathrow Express from Paddington while direct access to Gatwick Airport is provided via an express link from Victoria Station.

Piccadilly Circus is the fourth busiest station on the London Underground network, with an average annual footfall of 42 million people.

There are 16 bus routes which serve the St. James’s area along Regent Street and Piccadilly.

The Property benefits from excellent transport links with Piccadilly Circus, Charing Cross and Green Park all within close proximity.

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L L H A T E H I

RESTAURANTS

1.

Alliance Bernstein

25. Bentley’s Oyster Bar & Grill

2.

Axa Private Equity

26. Brasserie Roux

3. Blackstone

27. Green’s

4. BP

28. Nobu

5. Decura

29. Quaglino’s

6.

HSBC Private Bank

30. Rowley’s

7.

Jo Hambro

31. The Wolseley

8.

Kohlberg Kravis Roberts & Co

32. Wiltons

9.

Lazard & Co

10. McKinsey & Co

PRIVATE CLUBS

11. Norges Bank

33. The Athenaeum

12. Permal Investment Management

34. Boodle’s

13. Rathbones

35. Institute of Directors

14. The Carlyle Group

36. The In & Out

15. The Economist Group

37. Reform Club

16. Tristan Capital Partners

38. The Carlton Club

17. Westbrook Partners

39. The East India Club

E

HOTELS

41. The Travellers Club

18. Brown’s

42. White’s

19. Dukes

CHARING CROSS

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OFFICES

40. The Royal Automobile Club E

EMBANKMENT

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20. Le Meridien

RETAIL

21. The Cavendish

43. De Beers

22. The May Fair

44. Fortnum & Mason

23. The Ritz

45. Hatchards

24. The Stafford

46. Turnbull & Asser THEATRE & ARTS

E M B A N K M E N T

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47. BAFTA 48. Her Majesty’s Theatre 49. Institute of Contemporary Arts 50. Royal Academy

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11

SIX ST. JAMES’S SQUARE

THE PROPERTY Six St. James’s Square is a brand new development comprising a prominent, highly-specified office building. As the global headquarters of Rio Tinto the building reflects Rio Tinto’s position as a global leader in the mining and metals sector and a company committed to innovation and sustainable development.

The new building, designed by Dixon Jones and GMW and developed by Exemplar, was completed in March 2014.

The main entrance on St. James’s Square leads through to the dramatic four metre high reception area with a feature space for large format artwork. This provides access to all floors via three passenger lifts. The Babmaes Street entrance, decorated with a cast solid aluminium and silicon bronze ‘espalier’ arrangement by the artist Jonathan Clarke, leads to a reception area that provides access to all floors via three further passenger lifts.

Rio Tinto first had an interest in Six St. James’s Square in 1960 when the Consolidated Zinc Corporation Limited (later known as RTZ Australian Holdings Limited) took a long lease of the newly constructed office building. It has served as Rio Tinto’s global headquarters for the majority of the time since, until 2007 when the decision was made to redesign and redevelop the property.

The open plan floorplates offer an efficient working environment designed for today’s modern business needs. They benefit from excellent natural light and multiple terraces and enable flexibility for a single occupier, floor-by-floor occupation or further sub-division into part floors if required.

Behind the Property’s classically styled Portland Stone façade to St. James’s Square, the highly-specified modern office accommodation is arranged over lower ground, ground and six upper floors around a substantial central garden courtyard. The Babmaes Street frontage comprises a striking and graceful full height glass curtain wall, providing a strong visual identity. The building benefits from two impressive receptions and high quality finishes have been applied to all elements of the building.

Six St. James’s Square has been designed to meet key sustainability targets and has a BREEAM rating of excellent. The Property is ‘slated’ for LEED and is expected to achieve a Platinum rating.

Access to the bicycle racks and shower facilities is via a bespoke entrance on Babmaes Street. At the rear of the Property, on Appletree Yard, there is a service entrance. The Property benefits from six car parking spaces on ground floor level, reached via a car lift from Babmaes Street.

Right: Central garden courtyard 12

SIX ST. JAMES’S SQUARE

14

SIX ST. JAMES’S SQUARE

THE OFFICES • Four pipe fan coil air-conditioning • Fully accessible raised floors • Metal tiled suspended ceiling • 2.75m floor to ceiling height • 24 hour access and security • Male, female and disabled WCs on each floor • High quality fit out • Two striking receptions • Stunning central courtyard • Six passenger lifts • Terraces • Six car parking spaces • Bicycle storage for approximately 90 bicycles • Shower facilities

Six St. James’s Square is a brand new development comprising a prominent, highly-specified office building.

CGI of St. James’s Square reception. (Source: Hassell)

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SIX ST. JAMES’S SQUARE

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ST. JAMES’S SQUARE 121,795 sq ft (11,315 sq m) of Grade ASIXaccommodation over lower ground, ground and six upper floors

THE PROPERTY The Property has been measured by Plowman Craven Associates in accordance with the RICS Code of Measuring Practice (6th Edition) and provides the following approximate net internal areas: Office Accommodation Net Internal Area

Floor

Description

sq m

sq ft

Sixth floor west

Offices

291.7

3,140

Sixth floor east

Offices

338.1

3,639

Fifth floor

Offices

1,183.5

12,739

Fourth floor

Offices

1,579.7

17,004

Third floor west

Offices

1,157.4

12,458

Third floor east

Offices

786.2

8,463

Third floor

Storage

1.5

16

Second floor west

Offices

1,072.4

11,543

Second floor east

Offices

785.4

8,454

First floor west

Offices

840.9

9,051

First floor east

Offices

427.9

4,606

First floor

Reception – Babmaes Street

159.2

1,714

First floor

Storage

52.9

569

Ground floor

Offices

1,276.5

13,740

Ground floor

Reception – St. James’s Square

266.9

2,873

Ground floor

Storage

12.9

139

Ground floor

Building management

10.8

116

Lower ground floor

Offices

861.6

9,274

Lower ground floor

Storage

132.7

1,428

Lower ground floor

Ancillary

34.0

366

Lower ground floor

Building management

43.0

463

11,315.2

121,795

Total

A full copy of the measured survey is available and can be assigned to a purchaser.

Fifth floor offices 00

SIX ST. JAMES’S SQUARE

FLOOR PLANS Office - Rio Tinto

B A B M A E S

S T R E E T

Office - Vacant Reception Storage/Ancillary Terraces and Courtyards

S T .

J A M E S ’ S

S Q U A R E

Lower Ground

B A B M A E S

Not to scale, indicative only.

18

S T .

J A M E S ’ S

S Q U A R E

S T R E E T

Ground Floor

SIX ST. JAMES’S SQUARE

B A B M A E S

S T .

J A M E S ’ S

First Floor

S Q U A R E

B A B M A E S

S T .

J A M E S ’ S

S Q U A R E

S T R E E T

S T R E E T

Second Floor 19

SIX ST. JAMES’S SQUARE

Office - Rio Tinto Office - Vacant Reception

B A B M A E S

S T R E E T

Storage/Ancillary Terraces and Courtyards

S T .

J A M E S ’ S

Third Floor

S Q U A R E

B A B M A E S

Not to scale, indicative only.

20

S T .

J A M E S ’ S

S Q U A R E

S T R E E T

Fourth Floor

SIX ST. JAMES’S SQUARE

B A B M A E S

S T .

J A M E S ’ S

Fifth Floor

S Q U A R E

B A B M A E S

S T .

J A M E S ’ S

S Q U A R E

S T R E E T

S T R E E T

Sixth Floor 21

Sixteen Babmaes Street elevation

SIX ST. JAMES’S SQUARE

Six St James's Square, London

22

2

TENURE

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The Property is held freehold with the exception of the car parking on the ground floor (edged blue on the plan) which is held on a long lease for 999 years from 18th March 2014 at a peppercorn rent. There is a right of access from Babmaes Street via the car lift.

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7 10 8 10

110

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The Property comprises a site area of approximately 0.271 hectares (0.67 acres).

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Recreation Site

For indicative purposes only. Not to scale.

0m 16

24

10m

20m

33

32

Recreation Site

30m

31

St James

© UKMap Copyright The GeoInformation Group 2014 Licence No. LANDMLON100003121118. Plotted Scale - 1:1250

Recreation Site

This plan is published for convenience of identification.

Any site boundaries shown are indicative only and should be checked against Title Deeds.

ES753998

SIX ST. JAMES’S SQUARE

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SIX ST. JAMES’S SQUARE 6 5 4 3 2 180

1 G

BADMAES ENTRANCE

SQUARE ENTRANCE C O U R T YA R D

LG

TENANCY

RIO TINTO

TENANT

The remainder of the accommodation, approximately 30% of the area, is vacant.

The vendor will provide a cover for rents, rates and service charge as detailed in the tenancy schedule.

The majority of the Property will be let to Rio Tinto London Limited on a new 15 year lease, on effective full repairing and insuring terms upon completion of the sale. The initial rent payable under the proposed lease will be £7,420,000. The rent will be subject to five yearly compound CPI increases, with a floor and cap of 1% and 3% per annum respectively.

The cross section below illustrates the occupation profile of the Property.

The total day one income, including rental top-up, will be £10,717,035 pax (£87.99 per sq ft overall).

6

5

4

3

2 BABMAES STREET ENTRANCE

1 S T. J A M E S ’ S S Q U A R E ENTRANCE

G

LG

C O U R T YA R D

RIO TINTO

The majority of the Property will be let to Rio Tinto London Limited on a new lease.

26

VACANT

SIX ST. JAMES’S SQUARE

TENANCY SCHEDULE Description

Floor

Area (sq ft)

Offices

Sixth floor west

3,140

Offices

Fourth floor

17,004

Offices

Third floor west

12,458

Offices

Second floor west

11,543

First floor west

9,051

Offices / Reception

Ground (offices) Ground (reception)

13,740 2,873

Offices

Lower Ground

9,274

Car Parking

Ground floor car parking

Six car spaces

Offices

Tenant

Rio Tinto London Limited

Offices

Vacant

Sixth floor east

3,639

Offices

Vacant

Fifth floor

12,739

Offices

Vacant

Third floor east

8,463

Offices

Vacant

Second floor east

8,454

Offices

Vacant

First floor east

4,606

Car Park Access

Radior LLP

Lower ground floor

Plant

Lutier LLP

Roof

116,984

28

SIX ST. JAMES’S SQUARE

Rent (Per Annum Exclusive)

Rent (Per Sq Ft)

Comments

£7,420,000

£93.45

New 15 year lease from completion.

Two car parking spaces sub-let to the In & Out Club.

Car parking rent of £5,000 per space.

£345,705

£95.00

Rio Tinto will provide an 18 month rental guarantee and a 9 month rates and service charge top-up.

£1,210,205

£95.00

Rio Tinto will provide an 18 month rental guarantee and a 9 month rates and service charge top-up.

£719,355

£85.00

Rio Tinto will provide an 18 month rental guarantee and a 9 month rates and service charge top-up.

£676,320

£80.00

Rio Tinto will provide an 18 month rental guarantee and a 9 month rates and service charge top-up.

£345,450

£75.00

Rio Tinto will provide an 18 month rental guarantee and a 9 month rates and service charge top-up.

Peppercorn

Lease providing access to car park from 5 St. James’s Square.

Let for 999 years from 18/03/2014.

Peppercorn

Solar heating plant which provides power to the residential ventilation system at 5 St. James’s Square.

Let for 60 years from 18/03/2014.

£10,717,035

£91.35 overall

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SIX ST. JAMES’S SQUARE

TENANT COVENANT Rio Tinto is a leading global mining and metals company. Incorporated in 1873, Rio Tinto today employs 66,000 people in more than 40 countries across six continents.

Rio Tinto’s focus is on finding, mining and processing the Earth’s mineral resources. The company’s major products - aluminium, copper, diamonds, gold, industrial minerals, iron ore, thermal and metallurgical coal and uranium - are used in numerous applications by diverse industries, including construction, communication, energy, transport and healthcare.

Rio Tinto takes a long-term approach, with operations often lasting for many decades. The Group’s businesses include open pit and underground mines, mills, refineries, smelters and power stations - including a significant hydropower portfolio - as well as a number of research and service facilities. Rio Tinto also owns and operates infrastructure that takes its products to its customers, such as railways, ports and ships.

Headquartered in the UK, the Rio Tinto Group comprises Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.

Rio Tinto has total assets of approximately $112,591,000,000 and recently announced a 21% increase in first half underlying earnings to $5.1 billion. (Source: Rio Tinto half year results 2014). Standard and Poors give Rio Tinto plc a long term rating of A-.

Further information is available at www.riotinto.com.

Rio Tinto London Limited Rio Tinto London Limited, the tenant, is a fully owned subsidiary of Rio Tinto plc. Dun & Bradstreet have allocated Rio Tinto London Limited a 5A 1 rating (‘minimum risk of business failure’).

Rio Tinto European Holdings Limited The lease will be guaranteed by Rio Tinto European Holdings Limited. Dun & Bradstreet have allocated Rio Tinto European Holdings Limited a 5A 1 rating (‘minimum risk of business failure’).

Further information can be provided upon application.

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SIX ST. JAMES’S SQUARE

WEST END OCCUPIER MARKET London is a leading global city and one of the most important financial cities in the world with many global financial institutions choosing London as their European headquarters location.

St. James’s commands some of the highest office rents in the world, with a range of tenants attracted by the high quality office space, the prestigious addresses and the unique range of local amenities. Historically the limited supply of new Grade A office accommodation has resulted in an extremely resilient occupational market and a number of letting transactions in recently completed developments are now setting new benchmark headline rents for this cycle of up to £130.00 per sq ft.

The Mayfair & St. James’s office market is characterised by diminishing supply and increasing demand with an overall vacancy rate of 3.84% and a Grade A vacancy rate of 3.06%. Overall occupier demand in Mayfair & St. James’s now stands at 4.9 million sq ft, 16% higher than the 10 year average. Of the 252,000 sq ft of space under construction and due to complete in the next 12 months, 49% is already pre-let or under offer.

This imbalance between supply and demand is anticipated to continue to drive future rental growth and Cushman & Wakefield is forecasting strong rental growth, with prime rents in the core West End market predicted to be £140 per sq ft by 2018.

Illustrated below are some recent lettings: Date

Address

Tenant

Floor

Area (sq ft)

Rent (per sq ft)

Jun 2014

5 Hanover Square, W1

Heritage Oil

1st

7,983

£107.50

Jun 2014

3-5 Burlington Gardens, W1

CL & Co Management Services

2nd

6,503

£97.50

Jun 2014

15 Sackville Street, W1

RAHMS Ltd

4th

6,069

£97.00

May 2014

20 Grosvenor Street, W1

KPMG

LG - 4th

36,909

£125.00

3rd & 4th

38,270

£100.00

4th

5,998

£115.00

Apr 2014

10 New Burlington Street, W1

Tudor Capital

Mar 2014

33 Davies Street, W1

Golden Tree Asset Management

Dec 2013

23 Savile Row, W1

Rokos Investment

Part 2nd

8,120

£110.00

Oct 2013

23 King Street, SW1

Temasek

5th & 6th

8,416

£130.00

Jun 2013

Devonshire House, W1

Noble Energy

Part 2nd

9,700

£120.00

The above information has been provided by third parties and is subject to verification.

The pipeline for future development over 25,000 sq ft in St. James’s is highly restricted, with 90,000 sq ft of new space due to complete by the end of the year across two schemes. Only one of these is over 50,000 sq ft, Green Property’s development at 8 St. James’s Square (63,000 sq ft). There is then a further 89,000 sq ft under construction due to complete in 2015. This lack of development is likely to place further upward pressure on rental values.

Scheme

34

Area (sq ft)

Status

Expected Completion

Developer

8 St. James’s Square

63,000

Under construction

Q3 2014

Green Property

British Columbia House, 1-3 Regent Street

26,500

Under construction

Q3 2014

The Crown Estate

Haig House, 48-49 Pall Mall

39,000

Proposed

Q3 2015

Private

3 St. James’s Square

50,000

Proposed

Q4 2015

Quintain

2 St. James’s Market

68,000

Under construction

Q1 2016

The Crown Estate/Oxford Properties

1 St. James’s Market

147,000

Under construction

Q1 2016

The Crown Estate/Oxford Properties

SIX ST. JAMES’S SQUARE

West End prime headline rents

£140.00

£120.00

£100.00

per sq ft

£80.00

£60.00

£40.00

£20.00

£0.00 Q2 2014

Q1 2014

Q4 2013

Q3 2013

Q2 2013

Q1 2013

Q4 2012

Q3 2012

Q2 2012

Q1 2012

Q4 2011

Q3 2011

Q2 2011

Q1 2011

Q4 2010

Q3 2010

Q2 2010

Q1 2010

Q4 2009

Q3 2009

Q2 2009

Q1 2009

Q4 2008

Q3 2008

Q2 2008

Q1 2008

Q4 2007

Q3 2007

Q2 2007

Q1 2007

Q4 2006

Q3 2006

Q2 2006

Q1 2006

Q4 2005

Q3 2005

Q2 2005

Q1 2005

Q4 2004

Q3 2004

Q2 2004

Q1 2004

Prime Rent

Inflation It is proposed that the Rio Tinto rent is indexed on a five yearly annually compounded basis to increase in line with the UK Consumer Price Index (CPI) between a floor and cap of 1% and 3% per annum respectively. The CPI is a UK measure of inflation based upon the rate at which the prices of a basket of about 700 goods and services rise or fall. UK CPI has shown the following performance: Period

Average Growth Per Annum

Since 1998

2.16%

Last 10 years

2.70%

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SIX ST. JAMES’S SQUARE

WEST END INVESTMENT MARKET London is one of the most traded cities globally, last year representing the largest office and cross-border investment market in the world, and in 2013 the West End investment market experienced the highest turnover on record. West End real estate continues to attract a wide range of investors, both domestic and overseas, who are looking to capitalise on a number of factors including the liquidity and transparency of the London property market, the strength of the occupational market and the wealth preservation characteristics of prime assets within the area. This demand, combined with a shortage of good quality investment stock, has maintained prime yields and reinforced London’s position as a relative safe haven.

St. James’s has long been a premium location for global investors and with such large areas of Mayfair and St. James’s controlled by landed estates and investors with little appetite to trade, as well as the loss of stock to residential, there is an acute scarcity of freehold investment opportunities. This has led to further upward pressure on pricing and a rebasing of long term yields in the West End. Illustrated below are some recent investment transactions: Date

Address

Area (sq ft)

Tenure

Price

Net Initial Yield

Capital Value per sq ft

Available

Queensberry House, Old Burlington St, W1

205,073

FH

Quoting £190m

4.08%

£2,185 (excl. car park)

15 Sackville Street, W1

34,500

FH

> £80m

< 3.90%

£2,319

Under offer Sept 2014

10 Grosvenor Street, W1 (50% stake)

39,500

LLH

£54m

3.90%

£1,367

Aug 2014

440 Strand, WC2

180,480

LLH

c. £175m

4.34%

£970

Dec 2013

Devonshire House, W1

186,472

FH

£413m

3.95%

£2,215

Dec 2013

50 Pall Mall, SW1

35,145

FH

£62m

3.86%

£1,764

May 2013

48 Dover Street, W1

51,783

FH

£83.5m

4.32%

£1,613

Feb 2013

1 Grafton Street, W1

37,422

FH

£70m

4.54%

£1,871

Dec 2012

78 St. James’s Street, SW1

118,596

LLH

£177.35m

4.50%

£1,495

The above information has been provided by third parties and is subject to verification.

The West End investment market continues to attract a wide range of investors, both domestic and overseas.

Left: Entrance to Sixteen Babmaes Street 37

SIX ST. JAMES’S SQUARE

PLANNING

VAT

Six St. James’s Square is situated within the London Borough of Westminster.

We understand from Westminster City Council that the Property is not listed, but lies within the St. James’s Conservation Area.

The Property has been elected for VAT and therefore VAT will be payable on the purchase price.

EPC The Property has an Energy Performance Asset Rating of B. The full EPC is available on the website.

WEBSITE A dedicated website, www.sixstjamesssquare.co.uk, provides further information on the Property. Access can be granted upon application.

Left: View from the Property onto St. James’s Square 39

SIX ST. JAMES’S SQUARE

PROPOSAL

CONTACT DETAILS

Offers are invited, subject to contract and exclusive of VAT.

For further information, or to arrange an inspection of the Property, please contact:

INVESTMENT RATIONALE

Andrew Thomas T: +44(0) 207 152 5181 E: andrew.thomas@eur.cushwake.com

• Rare St. James’s trophy freehold investment opportunity.

• Brand new, highly-specified and striking Grade A headquarters office building.

• 0.271 hectares (0.67 acres) site in a prominent position on St. James’s Square, arguably the most prestigious location in London.

•

Approximately 70% will be let to Rio Tinto London Limited, guaranteed by Rio Tinto European Holdings Limited, on a new 15 year lease. The rent will be subject to five yearly compound CPI increases, with a floor and cap of 1% and 3% per annum respectively.

• Opportunity to drive the performance of the investment and capture strong forecast rental growth through letting the vacant office accommodation.

Sophie Willson T: +44(0) 207 152 5617 E: sophie.willson@eur.cushwake.com

Toby Croft T: +44(0) 207 152 5604 E: toby.croft@eur.cushwake.com

Abbi Grace T: +44(0) 207 152 5170 E: abbi.grace@eur.cushwake.com

Cushman & Wakefield LLP (and any joint agent appointed) on its own behalf and for vendors or lessors of this property, whose agent it is, gives notice that: (i). The particulars are produced in good faith, but are a general guide only and do not constitute any part of a contract. (ii). No person in the employment of the agent(s) has any authority to make or give any representation or warranty whatsoever in relation to this property. (iii). The property is offered subject to contract and unless otherwise stated all rents are quoted exclusive of VAT. (iv). Nothing in these particulars should be deemed a statement that the property is in good condition, or that any services or facilities are in working order. (v). Unless otherwise stated, no investigations have been made regarding pollution, or potential land, air or water contamination. Interested parties are advised to carry out their own investigations if required.

September 2014. Designed and produced by Creativeworld. 01282 858200.

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SIX ST. JAMES’S SQUARE

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