Hybrid, for when the answer is not black and white. Private treaty

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1 Hybrid, for when the answer is not black and white Private treaty Hybrid Auction

2 Private Treaty marketing period Build competitive tension with the deadline of an auction date. This approach has been most successful for complex assets where buyers have needed the extra time a hybrid model allows. These assets are marketed up to two months before the auction on the basis that they will go into the catalogue and under the hammer if they are not sold first. Our Hybrid model gives you all the advantages of both private treaty and auctions. and Auction speed and market exposure An auction contract is drawn up ready to be signed so that exchange is immediate, whether it happens inside or outside the auction room.

The pre-emption right on the sale made this disposal quite tricky.

The sale was not without its challenges, nonetheless the Allsop team remained masterly in its helming of the process.

It has become a reliable and regular method of sale.

3 The pre-emption right on the sale made this disposal quite tricky. However, Allsop set out a strategy for dealing with it early on, effected the sale in what was clearly a thin market and at a price that chimed completely with expectations. The sale was not without its challenges, nonetheless the Allsop team remained masterly in its helming of the process. I was, and remain, most impressed with the service offered and the result achieved. Glynne Benge, Estate Administrator We have used the hybrid method on numerous occasions. It has become a reliable and regular method of sale. It has allowed us to benefit from the additional marketing timescales that a private treaty campaign can afford whilst capitalising on the huge market exposure and certainty that the auction process provides. Plc Client Recent examples The hybrid model is providing an increasingly attractive alternative St Peter s House, St Albans A modern 22,089 sq ft office building, well let at 388,844 pa. Here, the market needed the extra time to decide if this was an office investment or residential conversion opportunity. The guide of 5.75m caught the buyers attention and it sold at auction for 7.1m to a property company. This also allowed one of the under bidders from a fund more time to prepare to bid in the auction The Broadway, Cheam A retail parade with 3,880 sq ft of vacant office space above. A private treaty campaign allowed an entire two months of marketing, which afforded purchasers time to fully assess the potential of developing the upper parts. The property sold prior to auction at 3.15m, well above the guide price. Allsop are at the sharp end. Having a choice of either private treaty sale or the auction route proved invaluable to selling my investment. Knowing I am getting best advice really gives peace of mind you can t put a price on that. Martin Waller, Investra LLP 28 & 30 Blythe Road, West Kensington Two mid terrace buildings with planning permission for two retail units and eight residential flats above. This asset required a longer marketing period to allow potential purchasers to ascertain the scale and build costs of the proposed development, whilst the deadline of an auction focused their attention. The property sold to a European family trust in the auction for 4.2m.

Allsop have a market knowledge, insight and expertise established over 100 years of experience Alex Butler

uk Allsop sold over 1,800 sub 10m assets in 2016/17 That s almost: 1* an hour, 7* a day, 35 a week, 151 a

buyers James Wilson Private Treaty Residential 0113 236 6679 james.wilson@allsop.co.

uk Top 10 ranked Investment Agency Practice 1.4bn transacted in 2017 UK s No. 1 property auctioneer 1.

4 Allsop have a market knowledge, insight and expertise established over 100 years of experience Alex Butler Private Client Team Commercial alex.butler@allsop.co.uk Allsop sold over 1,800 sub 10m assets in 2016/17 That s almost: 1* an hour, 7* a day, 35 a week, 151 a month Our teams talk A Partner led, collaborative service Access to over 120,000 UK and overseas registered buyers James Wilson Private Treaty Residential james.wilson@allsop.co.uk (*a working day) 1 George Walker Auctions Commercial george.walker@allsop.co.uk Top 10 ranked Investment Agency Practice 1.4bn transacted in 2017 UK s No. 1 property auctioneer 1.033bn sold at auction in 2017 Properties sold using the hybrid model 126.5m sold in the past 24 months across 47 transactions Jourdan Prowting Auctions Residential jourdan.prowting@allsop.co.uk

5 Insolvency Valuation Business Rates Lease Consultancy Letting & Management Build to Rent Development Auctions Investment Office Leasing Head office 33 Wigmore Street London W1U 1BZ +44 (0) City office 2 Copthall Avenue London EC2R 7DA +44 (0) Leeds office 33 Park Place Leeds LS1 2RY +44 (0) Brighton office Princes House Queens Road Brighton BN1 3XB +44 (0)

SANDARS MALTINGS, BRIDGE STREET, GAINSBOROUGH, LINCOLNSHIRE, DN21 1JA

Your Ref: UKDN211JA001 30 September 2018 The Directors PPNL SPV B2-1 Limited & PPNL SPV B2 Limited 15 Bishopsgate London EC2N 3AR Dear Sirs, SANDARS MALTINGS, BRIDGE STREET, GAINSBOROUGH, LINCOLNSHIRE,