GLOBAL DISTRIBUTION HEADQUARTERS | GLASGOW

GLOBAL DISTRIBUTION HEADQUARTERS | GLASGOW

Purpose built headquarters distribution facility investment, on 67 acres with significant redevelopment potential.

Harper Collins Publishers 03 02 Global Distribution HQ | Glasgow

GlasgowisoneofEurope’smostdynamicandvibrantcities.

SituatedintheaffluentsuburbofBishopbriggs,situatedjust5milesnorthofGlasgowcitycentre.

ExcellentaccesstoScotland’smotorwaynetworkviaJunction2oftheM80andJunction15oftheM8motorway.

Purposebuiltdistributionfacilityextendingto81,114sqm(873,119sqft)includingwarehouse,distributionandofficeaccommodationlaidoutover3separatebuildings.

Longleaseholdinterestconvertingtoaheritable(freehold)intereston28thNovember2015.

Sub-lettoWilliamCollinsSons&CompanyLimited,withHarperCollinsPublishersLimited,NewsCorpUK&IrelandLimitedandanAustralianentityformallyknownasTheNewsCorporationLimited,allactingasjointandseveralleaseguarantors.

Fullrepairingandinsuringsubleaseexpiring29August2025,withnobreaksoptions(approximately10yearsunexpired).

Passingrentof£5,132,000perannumandissubjectto5yearly,upwardsonlyrentreviews.ThenextreviewisinAugust2015.

Highlyprominent27.19hectare(67acre)sitewithexcellentfuturedevelopmentpotentialtohighervalueuses.

Investmentvalueunderpinnedbypotentialresidentialredevelopmentvalue.

Weareseekingoffersinexcessof£54,000,000exclusiveofVAT.

Ahighlyattractivenetinitialyieldof8.94%allowingforpurchaser’scostsof6.28%.

Secure income for 10 years to the world’s second largest book publisher, with globally recognised guarantors.

InvestmentOverview


The property is sub-let in its entirety

to William Collins Sons & Company Limited.

Harper Collins Publishers Limited, News Corp UK and Ireland Limited and an Australian entity

formally known as The News Corporation Limited, all act as

joint & several lease guarantors.



GlasgowisScotland’slargestcitywithapopulationofnearly600,000.Thecity’sextensivecatchmentareaaccountsforapproximately40%ofScotland’stotalpopulation,with2.3mpeoplelivinginthegreaterGlasgowarea.

Glasgowbenefitsfromaknowledgebasedeconomywiththecitybeinghometoover130,000furtherandhighereducationstudentsfrom135countries,attendingfivehighereducationinstitutionsandthreesupercolleges.

GlasgowisScotland’slargestcentreofemployment.1.2mworkingagepeoplelivewithina45minutecommuteofthecity,contributingtothe£18bninGrossValueAddedeachyear.

Since2012Glasgowhascreatednearly6,000newjobsinkeysectors,includingfinancialandbusinessservices,lifescience,engineering,designandmanufacturingandlowcarbonindustries/cleantech.

Morethan100companieshaverelocatedtoGlasgowinthelastdecade,aslabourcostsinthecitycanbeupto12%lowerthanEdinburghand33%lowerthanLondon(Source:FDI.)

Thefinancialandbusinessservicessectorhasgrownsignificantlyinrecentyearswiththecitynowhometoanimpressiveline-upofbluechipcompaniesandmajorglobalorganisationsincluding:Barclays Wealth, Santander, Tesco Bank, Morgan Stanley, HSBC, NFU Mutual, esure, JP Morgan, BNP Paribas, Aon, RBS, KPMG, PWC, Lloyds Banking Group, Handelsbanken, AXA, RSA, and National Australia Group.

GlasgowiswidelyregardedastheUK’sstrongestshoppingdestinationoutsideLondon’sWestEnd,withtheprimeretailthoroughfareofBuchananStreetattractinganestimated1millionshoppersweekly.

TheEconomy

Glasgow is home to over 600,000 people making it the most populous city in Scotland.

Some 13,000 firms are present in the city, including one quarter of Scotland’s largest

businesses.


Location

Bishopbriggsislocatedapproximately5milesnorthofGlasgowcitycentreand49mileseastofEdinburgh.Bishopbriggsbenefitsfromgoodtransportlinks,beinglocatedclosetoJunction2oftheM80andJunction15oftheM8motorways.TheM73/M74interchangeissituatedapproximately12milestothesoutheastviatheM8/M73.

GlasgowAirportandEdinburghairportareapproximatelya13milesand45milesrespectivelyfromBishopbriggs.Scotland’sprincipalairfreightterminal,Prestwick,issituatedapproximately36milessouth-westandprovidespassengerandairfreighttransportationworldwide.

A71

A71

A73

A721

A702

A702

A72

A707

A720

A68

A68

A1

A7

A7

A76

A70A77

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A737

A82

A726

M74

M77

M8 M73

M80

M80

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M8

M77

GLASGOW

EDINBURGH

QUEENSFERRY

PEEBLES

HARWICKCUMNOCK

MAUCHLINE

DARVEL

DOUGLAS

CARLUKE

EAST KILBRIDE

BELLSHILL

KILMARNOCK

AYR

IRVINE

Troon - Larne

BEITH

DALRY

DUMBARTON

BEARSDEN

PAISLEY

DENNY

LIVINGSTON

FALKIRK

DUNFERMLINE

EDINBURGH AIRPORT

PRESTWICK AIRPORT

GLASGOW AIRPORT

A807

A879

A803

B819

A803

BISHOPBRIGGS

Location Distance Drive Time

Glasgow 5 miles 18 mins

Glasgow Airport 13 miles 23 mins

Prestwick Airport 36 miles 48 mins

Edinburgh Airport 45 miles 48 mins

Edinburgh 49 miles 1 hour 9 mins

Aberdeen 144 miles 2 hours 41 mins

Inverness 169 miles 3 hours 13 mins

Carlisle 97 miles 1 hour 45 mins

Manchester 218 miles 3 hours 34 mins

Birmingham 291 miles 4 hours 40 mins

London 413 miles 6 hours 51 mins

Situation

BishopbriggsisanaffluentsuburbofGlasgow.TheHarperCollinsheadquartersissituatedonWesterhillRoadwithinWesterhillBusinessPark.

M80

J2

J15

M8M8M8

BISHOPBRIGGS

A803

Westerhill Road

Proposed Relief Road(Phases 4 & 5)

Relief Road

Robroyston Road

A803

A803

BishopbriggsReliefRoadAccessibilitytoWesterhillRoadandBishopbriggswillbesubstantiallyimproveduponcompletionoftheproposedBishopbriggsReliefRoad,linkingWesterhillRoaddirectlytotheM80Motorway.

Phases1-3arealreadycompleteandweanticipatethatthefinalphasesofthisroaddevelopmentwillbecompletedin2016/2017.Uponcompletionthelocationwillbeanevenmoreattractiveprospectforarangeofcommercialandresidentialuses.

WesterhillRoadislocated2milesnorthofBishopbriggstowncentreandthesurroundingareaispredominantlymixedusecommercialwiththewiderareabeingmainlyresidentialinnature.

AvivaInsuranceandMcGaviganEngineeringbothoccupylargeofficessituatedimmediatelysouthoftheHarperCollinsHQ.StrathkelvinRetailParkisalsolocatedtothenorthoftheproperty.TenantsattheretailparkincludeMarks&Spencer,Next,Boots,Frankie&Benny’sandCostaCoffee.


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2

1

3

4

6

GlasgowCityCentre

BishopbriggsTrainStation

1Aviva Call Centre

2John McGavigan Engineering

3Strathkelvin Retail Park

4New residential development by Dawn

5Asda Superstore

6Bishopbriggs Town Centre

Key

DC2 and DC3

DC1

OFFICES

PROPOSED RELIEF ROAD

Purpose built distribution facility

extending to 873,119 SQ M

(873,119 SQ FT)



The gross and net internal areas are as follows:

Unit Use SQ M SQ FT

DistributionCentre1(DC1) Storage 21,734GIA 233,947GIA

DistributionCentres2&3(DC2&DC3)70%Storage30%Distribution

48,810GIA 525,398GIA

HeadquartersOfficesBuilding Offices 10,570NIA 113,774NIA

Total 81,114 873,119

ThepropertywaspurposebuiltbyHarperCollinsbetween1973and1976tocompriseamanufacturinganddistributionfacilityextendingto81,114sqm(873,119sqft).Thereisapproximately550staffcurrentlyemployedatthisfacilitywhichcomprisesthefollowing:

> 2xhigh-baywarehouseunitsand1xhighbaydistributiondepotwithancillaryofficespaceknownasDC1,2and3;

> Thedistributionwarehousesareofsteelportalframeconstructionwithaneavesheightofapproximately7.62m;

> DC1has12docklevellers,DC2has3docklevellersandDC3has6loadingbays;

> Aseparateofficeblockarrangedovergroundand3upperfloors;

> Theofficeblockisofconcreteframedconstruction,withraisedaccessfloors,airconditioningand2liftsaccessingtheupperfloors;

> 2xgatehouses;

> 442surfacecarparkingspaces.

Tenure

Thesiteisheldonagroundlease(longleasehold)andtheholderofthetenant’sinterestisFuturestateLimited.Thegroundleaseisfor999yearsfrom28September1990atapeppercornrent.TheleaseholdtitleisleasedunderanoccupationalsubleasetoWilliamCollinsSons&CompanyLimited.

Thegroundtenanthastheoptionatanytimefrom28September2015topurchasetheLandlord’sheritable(freehold)interestfora£1.

Inanyevent,underthetermsoftheLongLeases(Scotland)Act2012,theleaseholdtitlewillautomaticallyconvertintoafreeholdtitleon28November2015.

Thesitecomprisesthreeseparatepartsasshownbelowandextendstoapproximately27.19hectares(67acres).Thesitecanbebrokendownintothefollowingcomponentparts:

DC1 29acres

DC2&DC3 28acres

AdditionalLand 10acres

Thesitecoverisapproximately30%oftheoverallacreageandsitesDC1andDC2/DC3arelinkedbyanunderpassbelowWesterhillRoad.

ItshouldbenotedthatHarperCollinsownlandadjacenttotheirHQbuildingtotalling38acresasoutlinedblueonthemapbelow.

Site1 15acres

Site2 23acres

Accommodation TheSite

DC2 and DC3

ADDITIONALLAND

SITE1

SITE2LandOwnedbyHarperCollins

(notinthesale)

LandOwnedbyHarperCollins(Notincluded

inthissale)

DC1

OFFICES

16 Global Distribution HQ | Glasgow Harper Collins Publishers 17

Tenancy> Thepropertyissub-lettoWilliamCollinsSons&

CompanyLimitedonFRItermsuntil29August2025(approximately10yearsunexpired).

> TheleaseisguaranteedonajointandseveralliabilitybasisbyHarperCollinsPublishersLimited,NewsCorpUK&IrelandLimitedandanAustralianentityformallyknownasTheNewsCorporationLimited.

> Thepassingrentis£5,132,000perannum.

> Thenextrentreviewison30August2015andfiveyearlythereafter.

> Thebasisoftherentreviewisupwardsonlytothehigherofthemarketrentasatthereviewdate;thethenpassingrent;anda‘notionalrent’.

> Therentreviewprovisionswithregardtothedefinitionof‘marketrent’and‘notionalrent’aredefinedintheleasewhichisaccessibletoreviewonthedataroom.

Harper Collins Publishers 019 018 Global Distribution HQ | Glasgow Harper Collins Publishers 19 18 Global Distribution HQ | Glasgow

SubTenant&Guarantors

HistoryWilliamCollins(fromGlasgow)setupacompanyin1819forprintingandpublishingpamphlets.Hewasresponsibleforprintingthefirstdictionary.

ThecompanywasrenamedWilliamCollinsSonsandCoLimitedin1868.In1917thefirmstartedpublishingfictionandultimatelybecameadiversecompanypublishingawidearrayoftitles.In1990,thecompanywasmergedwithUSpublisherHarperandRowandrenamedHarperCollinsPublishers.

HeadquarteredinNewYork,HarperCollinshaspublishingoperationsin18countriesincludingTheUnitedStates,Canada,UnitedKingdom,Australia,NewZealandandIndiaproducingglobalrevenuesofover$1bnannually.Withover200yearsofhistory,thecompanypublishesapproximately10,000newbookseveryyearinover30languagesandhasmorethan65uniqueimprintsaroundtheworld.

HarperCollinsPublishersisasubsidiaryofNewsCorp,anAmericanmultinationalmassmediacorporationheadquarteredinNewYork.

In2013,theoriginalcompanyNewsCorporation’spublishingoperationswerespunofftoformanew,publiclytradedcompanycalledNewsCorp.PreliminarytradingofNewsCorptookplaceontheAustralianSecuritiesExchangeinJune2013.NewsCorpoperatesaglobalnetworkofleadingmedia,news,educationandinformationservicesincludingHarperCollinsPublishers,NewsCorpUk,NewsCorpAustralia,DowJonesandNewYorkPost.

IntheUk,newspublicationsincludeTheTimes,TheSundayTimes,TheSun,TheDailyTelegraph,GQandVogue.

Furtherinformationcanbeobtainedonthecompanywebsites;

www.harpercollins.co.uk www.newscorp.com

William Collins Sons & Company limited

Incorporatedon2January1880,WilliamCollinsSons&CompanylimitedhasaDun&Bradstreetratingof2A1andasat30June2014recordedatangiblenetworthof£1,528,000.TheimmediateparentcompanyisHarperCollinsPublishersLimitedandGlobalultimateparentcompanyisNewsCorpInvestmentsUK&Ireland.

News Corp UK & Ireland Ltd

Incorporatedon28July1904,NewsCorpUK&IrelandLimitedhasaDun&Bradstreetratingof5A1andasat30June2014,recordedaturnoverof£1,205,200,000,pre-taxprofitof£75,500,000andtangiblenetworthof£628,300,000.TheimmediateparentcompanyisNewsCorpHoldingsUK&IrelandandGlobalultimateparentcompanyisNewsCorpUK&IrelandLtd.

Harper Collins Publishers Limited

Incorporatedon29November1949,HarperCollinsPublishersLimitedhasaDun&Bradstreetratingof5A1andasat30June2014,recordedaturnoverof£179,566,000,pre-taxprofitof£7,222,000andtangiblenetworthof£291,299,000.TheimmediateparentcompanyisWilliamCollinsHoldingLimitedandGlobalultimateparentcompanyisNewsCorpInvestmentsUK&Ireland.

Australianentityformallyknowas;The News Corporation Limited (nowknownasNewsAustraliaPTYLimited)

AtthetimeofsigningtheLeasein1990,thethirdguarantor(anAustraliancompany)wasknownas“TheNewsCorporationLimited”.Sincethen,itisunderstoodthattheNewsCorporationgrouphasundergonevariouscorporatereorganisations,andthatthethirdguarantorisnowknownas“NewsAustraliaPTYLimited”.ItisunderstoodthatthiscompanyisnowexemptfromproducingP&Laccountsandbalancesheetsgivenitscorporatestatus,thereforeacreditsearchagainstthisentityisnotavailable.

Giventhefinancialstrengthofthesubtenantandtheothertwoguarantors,andtheunderstandingthatthecompanyformspartoftheNewsCorpgroup,theabsenceofacreditsearchagainstthisthirdguarantorisnotconsideredrelevanttothesale.Apurchaserisexpectedtobesatisfiedwiththecovenantstrengthofthesubtenantandtheothertwoguarantors.

Harper Collins Publishers is the second largest consumer book

publisher in the world.

News Corp was the world’s third largest media

group in 2014 in terms of revenue.

Subtenant

Guarantors



Planning

CurrentDevelopmentPlan IndicativeMixedUseMasterplan

The Scottish planning system is plan-led whereby planning applications should be determined in accordance with the development plan unless material considerations indicate otherwise (Town and Country Planning (Scotland) Act 1997).

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Petroleum Exploration and Development LicencePolicy 17

Mineral resources sitePolicy 17

# Waste management facilityPolicy 16

Business and employment sitePolicy 13

Local CentrePolicy 11

Village centrePolicy 11

Commercial centrePolicy 11

Town centrePolicy 11

Policy 10

Listed buildingPolicy 10

Scheduled MonumentPolicy 10

Policy 10

Antonine Wall World Heritage SitePolicy 10

Gardens and designed landscapesPolicy 10

Townscape protection areaPolicy 10

Conservation areaPolicy 10

Flood risk areaPolicy 9

Local landscape areaPolicy 8

Tree preservation orders within BearsdenPolicy 8

Tree preservation orderPolicy 8

LNCS geodiversity sitePolicy 8

Local Nature Conservation SitePolicy 8

Local Nature ReservePolicy 8

Policy 8

Community facilityPolicy 7

Open spacePolicy 7

Housing sitePolicy 6

Core pathPolicy 4

Indicative Bishopbriggs relief road routePolicy 4

Sustainable transportPolicy 4

Proposed railway stationPolicy 4

Green beltPolicy 3

Place initiativePolicy 3

Council boundary

Note: Areas that are covered by more than one policy may be hatched on the maps so as to show both policies.

also in the green belt.

Reproduced by permission of Ordnance Survey on behalf of HMSO. (C) Crown Copyright and database right 2015. All rights reserved. East Dunbartonshire Council OS Licence Number 100020774.

Local Development PlanProposed Plan: Bishopbriggs and TorranceApril 2015

N

1:10,000

Source: EastDunbartonshireCouncil–EmergingLDP(ProposalsMapExtract)

Representations promoting a master plan for the Westerhill area for mixed use development, incorporating residential, have been submitted to East Dunbartonshire Council.

ThecurrentdevelopmentplancoveringthisopportunityistheGlasgowandClydeValleyStrategicDevelopmentPlan(approved2012)andtheEastDunbartonshireLocalPlan2(adopted2011).

TheadoptedLocalPlan2allocatesthesubjectsiteas‘existingbusiness/industrialland’underPolicyECON1.Therefore,Class4‘business’,Class5‘generalindustry’orClass6‘storageanddistribution’areconsideredgenerallyacceptableonsite.

TheadoptedlocalplanisunderreviewandwillbereplacedbyaLocalDevelopmentPlan(LDP)whichcurrentlyseekstoretaintheadoptedpolicypositionwiththesiteremainingasalocationfor‘businessandemployment’underemergingPolicy13.

The local plan adopted in 2011 is

currently under review

RepresentationshavebeensubmittedtoEastDunbartonshireCouncilinrespectoftheemergingLDPpromotingamasterplanfortheWesterhillarea,partofwhichincludesthisinvestmentopportunity.

Arevisedallocationformixed-usedevelopmentissoughtwiththemixofusesincludingbusiness,industry,residential,commercialleisure,restaurantsandcafés.

AnindicativemasterplanpreparedbySavillstoaccompanytherepresentationsissetoutabove.

IfthemixeduseallocationdoesnotcomeforwardintheemergingLDP(DueforadoptionDecember2016)thoseinterestedinredevelopmentofthesiteforusesotherthanClasses4,5&6canengageinthenextpolicyreviewcyclewhichshouldrunfrom2017to2021.

The emerging LDP is due for

adoption in December 2016

Green beltPolicy3

Indicative Bishopbriggs relief road routePolicy4

Open spacePolicy7

Local Nature Conservation SitePolicy8

Business and employment sitePolicy13

Unallocated

MixofGreenBelt/OpenSpace

Source:WesterhillConsultationReportExtract–SavillsJune2014(IncludedwithinconsultationresponsetoEDCMIRAdditionalSites)

Optional Stage 5relief road completion

N.B. Internal landscaping, formal and informalopen space to be confirmed as partdetailed masterplanning

OwnershipboundaryOwnershipboundary

ProposedBishopbriggsreliefroad

Indicativeinternalroadstobedesignedinlinewith‘DesigningStreets’

Proposedresidential

Proposedemployment

Existingmixeduseconsentprovidingcirca61,000sqmemploymentspaceor33yearslandsupply

Proposedfootpathandcycleroutes(includingimprovementstoWesterhillRoad)

Provisionofgreennetworks

Existingroads

Proposedlandscapingbuffer


Dawn Homes - Villafield, Bishopbriggs

Source:TheGlasgowandClydeValleyStrategic

DevelopmentPlan(ApprovedMay2012)

3,100PrivatesaleHomes

7,600AffordableHomes

EastDunbartonshireHousingLandSupply

Targetto2025

10,700 NewHomes

26 Global Distribution HQ | Glasgow

This,coupledwiththeperceivedshortageofnewbuildresidentialdevelopmentopportunitieswithintheBishopbriggsmarket,hasresultedinstrongdemandfromthehousebuildingindustryfordevelopmentsites.

Zooplahasrecordedanincreaseinaverageaskingpriceof12%overthelast2yearswithinBishopbriggsandanaverageaskingpriceinthesecondhandmarketof£229,000.

Incloseproximitytothesubjectsite,DawnHomesaredevelopingasiteof36no.4and5bedroomhomeswithaskingpricesintherangeof£325,000to£399,000.InthenearbyRobroyston(adjacenttoBishopbriggs),TaylorWimpeyarelaunchingadevelopmentof76no.4bedroomdetachedpropertiesranginginpricefrom£277,000to£313,000.

TheshortageofnewbuildsitesofthisscaleinBishopbriggsatthistimemeanstherearenomeaningfulcomparablelandtransactions.ThenearestrelevantsiteatRobroyston,isachievingheadlinelandvalues(beforeabnormalcostsandplanninggaindeductions)of£700,000-£750,000pernetdevelopableacre.

Ratherthanrelyingonproximity,itismoreappropriatetolookatcomparablemarketsectors.Forexample,atDargavelVillageinBishopton,TaylorWimpeyareselling4to5bedroomdetachedhomesintherangeof£250,000to£322,000.ArecentclosingdateforanewphaseatDargavelattractedheadlineoffers(beforeabnormalcostsandplanninggaindeductions)inexcessof£900,000pernetdevelopableacre.

GiventhequalityoftheWesterhilllocation,thesizeofthesiteandthenatureofthesurroundingproperties,itisanticipatedthatifthisopportunitywasopenlymarketedwiththebenefitofareasonableplanningconsentforresidentialdevelopment,thenitwouldbeexceptionallyattractivetothehousebuildingindustryandgenerateheadlineoffersintheregionof£800,000to£1,000,000pernetdevelopableacre(beforeabnormalcostsandplanninggaindeductions).

RedevelopmentPotential

From a residential redevelopment perspective, Bishopbriggs is an established, attractive and affluent suburb of Glasgow with well-regarded state primary and secondary schools.

12% increase in residential average asking prices in Bishopbriggs over

the last two years.Source: Zoopla

Strong demand from house building

industry

Netdevelopablelandvaluesof£800,000-

£1,000,000peracre


30 Global Distribution HQ | Glasgow

EPC

TheEPCratingsofthebuildingsareasfollows:

ScottishRating

EnglishRating

DC1 G F

DC2/DC3 G F

Offices E E

Thewarehouseratingsstatedabovearereflectiveoftheequipmentinstalledforthetenantsspecificusage.Inabsenceofthisequipment,wewouldexpecttheEPCratingtoimprovesignificantly.

VAT

ThepropertyiselectedforVATwhichwillbepayableonthepurchaseprice.ItisanticipatedhoweverthatthesalewillbetreatedbywayofaTransferofaGoingConcern(TOGC).

DataRoom

Furtherinformationisincludedwithinthedataroom.PleasecontactCBREtorequestaccess.

Informationincludes:

> Theoccupationallease

> Floorplans

> Title

> InsurancePolicy

> Covenantinformationforthetenantandguarantors

> EPCs

> Additionalphotography

> DesktopEnvironmentalSurvey

> TheGroundLease

Thepurchaserisexpectedtoreviewthegroundleasetitletosatisfyitselfthatitmeetsanyfuturedevelopmentproposalsofthepurchaser.Therelativelyshorttitledocumentforthegroundleasetitleisavailableforreviewonthedataroom.

InvestmentProposal

Offersinexcessof£54,000,000excludingVATareinvited.

Apurchaseatthislevelreflectsanattractivenetinitialyieldof8.94%,assumingpurchaserscostsof6.28%.

SPV

ThepropertyisheldwithintwoSpecialPurposeVehiclesandacorporatesalemaybeconsidered.

Forplanningenquiriespleasecontact

Teri Porter

Tel: +44(0)1412047701Mob: +44(0)7832207326Email: [email protected]

Forconfidentialdebtenquiriespleasecontact:

Andy Tallon


DISCLAIMER:

CBRE on its behalf and for the Vendors or Lessors of this property whose Agents they are, give notice that: 1. TheseparticularsaresetoutasageneraloutlineonlyforguidancetointendingPurchasersorLessees,anddonotconstituteanypartofanofferorcontract.2.DetailsaregivenwithoutanyresponsibilityandintendingPurchasers,LesseesorThirdPartiesshouldnotrelyonthemasstatementsorrepresentationsoffact,butmustsatisfythemselvesbyinspectionorotherwiseastothecorrectnessofeachofthem.3.NopersonintheemploymentofCBREhasanyauthoritytomakeanyrepresentationorwarrantywhatsoever in relationtothisproperty.4.Unlessotherwisestated,allpricesandrentsarequotedexclusiveofVAT.ProducedbyDesignworks(www.designwork.co.uk)14753.June2015

Campbell Docherty


Martyn Brown


Franco Sidoli


Edward Spooner


FurtherInformationFor further information and access to the data room or to arrange an inspection, please contact:

Documents

GLOBAL DISTRIBUTION HEADQUARTERS | GLASGOW