221B BAKER STREET - DATA ROOM

Mark,

Further to our conversation at the end of last month, we have been instructed on the disposal of 221B Baker Street and I wanted you to see it ahead of the wider launch.

Opportunity: Freehold development site in Marylebone W1, vacant possession on completion. Off-market at this stage — we are showing it to four parties only.

Scheme: Reserved matters approved for Phase 1 of 132 homes, with the wider consented scheme providing up to 319. Mix is 99 private and 33 affordable, alongside ground floor commercial.

Planning: Outline consent granted and subsequently varied; Phase 1 reserved matters approved June 2021. Section 106 is executed and the affordable housing quantum is fixed.

Infrastructure: Primary access, roundabout improvements and the retail element are already constructed and operational, so the heaviest enabling works sit behind the purchaser.

Guide: Offers invited in excess of £33m for the freehold interest.

Process: Best bids Friday 7 November. Our client would consider an early unconditional offer and is not planning a formal second round.

Site location plan and the consented Phase 1 layout are attached. Full data room access — 34 documents covering title, planning, technical and cost — has been issued to you separately this morning.

Happy to arrange a site visit next week if useful.

Kind regards,