Your Ref: UKM34NH001
30 September 2018 The Directors PPNL SPV B29-1 Limited & PPNL SPV B29 Limited 15 Bishopsgate London EC2N 3AR Dear Sirs, 8-16 BRIDGEWATER STREET, DEANSGATE, MANCHESTER, M3 4NH In accordance with your instructions, we have carried out a quarterly desktop valuation of the above mentioned property. On the assumption that there have been no material changes to the property since the original inspection by Dawson & Associates on 2 February 2016, we are of the opinion that the bulk investment value of the subject properties is now in the region of £2,145,000 (Two Million and One Hundred and Forty Five Thousand Pounds). We are of the opinion that the aggregate Market Value of the subject properties with the benefit of vacant possession is now in the region of £2,405,000 (Two Million Four Hundred and Five Thousand Pounds). For the avoidance of doubt, Allsop LLP have not undertaken an inspection of this property. Our opinion of value is on a desktop basis and should be regarded as indicative only. We also stress that we accept no liability in providing our opinion, nor does the content of this letter meet the requirements of the RICS Valuation Global Standards. Yours faithfully
ANDREW M HUNT MA PGDIP MRICS (RICS NO 0103294) Partner For Allsop LLP DL 0113 236 6671 M 07967 829728 E
[email protected] Property Consultants
. Allsop is the trading name of Allsop LLP, a limited liability partnership, registered in England and Wales with number OC315531, whose registered office is at: 33 Wigmore Street, London W1U 1BZ. A list of members is available for inspection at this address. Regulated by RICS. Offices in West End, City, and Leeds.
Allsop LLP 8th Floor, Platform New Station Street Leeds LS1 4JB T +44 (0)113 236 6677 F +44 (0)113 243 0682 www.allsop.co.uk
Your Ref: UKM34NH001 8 March 2018 The Directors PPNL SPV B29-1 Limited & PPNL SPV B29 Limited 71 Queen Victoria Street London EC4V 4AY Dear Sirs, 8-16 BRIDGEWATER STREET, DEANSGATE, MANCHESTER, M3 4NH In accordance with your instructions, we have carried out a quarterly desktop valuation of the above mentioned property. On the assumption that there have been no material changes to the property since the original inspection by Dawson & Associates on 2 February 2016, we are of the opinion that the bulk investment value of the subject properties is now in the region of £2,145,000 (Two Million and One Hundred and Forty Five Thousand Pounds). We are of the opinion that the aggregate Market Value of the subject properties with the benefit of vacant possession is now in the region of £2,375,000 (Two Million Three Hundred and Seventy Five Thousand Pounds). For the avoidance of doubt, Allsop LLP have not undertaken an inspection of this property. Our opinion of value is on a desktop basis and should be regarded as indicative only. We also stress that we accept no liability in providing our opinion, nor does the content of this letter meet the requirements of the RICS Valuation Global Standards. Yours faithfully
ANDREW M HUNT MA PGDIP MRICS (RICS NO 0103294) Partner For Allsop LLP DL 0113 236 6671 M 07967 829728 E
[email protected]
Property Consultants
. Allsop is the trading name of Allsop LLP, a limited liability partnership, registered in England and Wales with number OC315531, whose registered office is at: 33 Wigmore Street, London W1U 1BZ. A list of members is available for inspection at this address. Regulated by RICS. Offices in West End, City, and Leeds.
Allsop LLP 33 Park Place Leeds LS1 2RY T +44 (0)113 236 6677 F +44 (0)113 243 0682 www.allsop.co.uk
DAWSON & ASSOCIATES Chartered Surveyors Chartered Building Consultants
28 November 2016 The Directors PPNL SPV B29 -1 Limited and PPNL SPV B29 Limited 71 Queen Victoria Street London EC4V 4AY
Dear Sirs, Re: Desktop Revaluation: Deansgate, 8-16 Bridgewater Street, Manchester, Lancashire M3 4NH
Thank you for your recent email instructions to undertake a Desktop updated Valuation on the above property, previously inspected by ourselves on 2nd February 2016. For the purpose of this valuation, the date of valuation is the 28th November 2016. This is a Desktop Revaluation, I have assumed that the property is in similar condition and layout as to that when inspected on 2nd February 2016 and that there has been no material changes. The valuation below is on the same market valuation basis defined as “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction after adequate marketing wherein the parties had each acted knowledgeably, prudently and without compulsion”.
The Twitten, Udimore road, Broad Oak, East Sussex TN31 6DG T 01424 882263 | E
[email protected] | W www.dawsonsurveyors.com Regulated by RICS
We are of the opinion that the aggregate vacant possession value of the units is £2,281,000 (Two million two hundred and eighty one thousand pounds) We are also of the opinion that the bulk investment value is £2,009,000 (Two million and nine thousand pounds). The UK has been affected by the instability in the market, possible recent political shifts have had different effects on value dependant on the specific area. My research however indicates that there is no growth in the area currently. We trust that we have supplied you with sufficient information but should you have any queries then please do not hesitate to contact this office. Yours faithfully
Charles Dawson FASI MRICS FCIOB P.PresFFPWS On behalf of DAWSON & ASSSOCIATES
The Twitten, Udimore road, Broad Oak, East Sussex TN31 6DG T 01424 882263 | E
[email protected] | W www.dawsonsurveyors.com Regulated by RICS
DAWSON & ASSOCIATES Chartered Surveyors Chartered Building Consultants
22 September 2016 London House Exchange Limited 1 Fore Street London EC2Y 5EJ
Dear Sirs Re: Desktop Valuation: Deansgate, 8-16 Bridgewater Street, Manchester, Lancashire M3 4NH
Thank you for your recent email instructions to undertake a Desktop updated Valuation on the above property, previously inspected by ourselves on 2nd February 2016. For the purpose of this valuation, the date of valuation, is the 14th September 2016. As this is a Desktop Valuation, we have assumed that the property is in similar condition and layout as to that when inspected on 2nd February 2016 and that there has been no material changes. The valuation below is on the same market valuation basis defined as “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction after adequate marketing wherein the parties had each acted knowledgeably, prudently and without compulsion”. On arriving at the valuation we have considered current market conditions, property readily available on the market and recent agreed sales, together with completions.
The Twitten, Udimore road, Broad Oak, East Sussex TN31 6DG T 01424 882263 | E
[email protected] | W www.dawsonsurveyors.com Regulated by RICS
We are of the opinion that the aggregate vacant possession value of the units is £2,281,000 (Two million two hundred and eighty one thousand pounds). We are also of the opinion that the bulk investment value is £2,009,000 (Two million and nine thousand pounds). The UK has been affected by the instability in the market, possible recent political shifts have had different effects on value dependant on the specific area. My research indicates that there is little to no change in market activity in this instance. We trust that we have supplied you with sufficient information but should you have any queries then please do not hesitate to contact this office. Yours faithfully
Charles Dawson FASI MRICS FCIOB P.PresFFPWS On behalf of DAWSON & ASSSOCIATES
The Twitten, Udimore road, Broad Oak, East Sussex TN31 6DG T 01424 882263 | E
[email protected] | W www.dawsonsurveyors.com Regulated by RICS
DAWSON & ASSOCIATES Chartered Surveyors Chartered Building Consultants
10 June 2016 London House Exchange Limited 1 Fore Street London EC2Y 5EJ
Dear Sirs Re: Desktop Valuation: 8-16 Bridgewater Street, Manchester, Lancashire M3 4NH Thank you for your recent email instructions to undertake a Desktop updated Valuation on the above property, previously inspected by ourselves on 2nd February 2016. For the purpose of this valuation the date of valuation is the 9th June 2016. As this is a Desktop Valuation, we have assumed that the property is in similar condition and layout as to that when inspected on 2nd February 2016 and that there has been no material changes. The valuation below is on the same market valuation basis defined as “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion”. On arriving at the valuation we have considered current market conditions, property readily available on the market and recent agreed sales, together with completions.
The Twitten, Udimore road, Broad Oak, East Sussex TN31 6DG T 01424 882263 | E
[email protected] | W www.dawsonsurveyors.com Regulated by RICS
We are of the opinion that the aggregate vacant possession value of the units is £2,281,000 (Two million two hundred and eighty one thousand pounds). We are also of the opinion that the bulk investment value is £2,009,000 (Two million and nine thousand pounds). We trust that we have supplied you with sufficient information but should you have any queries then please do not hesitate to contact this office. Yours faithfully
Charles Dawson FASI MRICS FCIOB P.PresFFPWS On behalf of DAWSON & ASSSOCIATES
The Twitten, Udimore road, Broad Oak, East Sussex TN31 6DG T 01424 882263 | E
[email protected] | W www.dawsonsurveyors.com Regulated by RICS
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
have a duty to justify making this assumption. However, if the inspection shows that these materials have been used, the surveyor must report this and ask for further instructions.
to investigate further, the surveyor may refer to these in the report (for example, check whether there is a warranty covering replacement windows). Continued...
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
Property address
8-16 Bridgewater Street, MANCHESTER, Lancs, M3 4NH
9cbfedb5-4f0b-4c2b-a1f9-353b75dee84f
