1. ALEXANDER HOUSE
205/207 KINGS ROAD, READING RG1 4LW
High Yielding Secure South East Office Investment

2. ALEXANDER HOUSE
205/207 KINGS ROAD, READING RG1 4LW
INVESTMENT SUMMARY
READING
• Reading is the largest commercial centre in the South East outside of London
The Thames Valley has a strong telecoms, computing and research presence derived from both the public and private
sectors. A large number of the world’s largest companies are present in the area. As an IT cluster it is second only to
California’s Silicon Valley and therefore the most high-tech location in the UK.
• Reading boasts excellent road, rail and air connectivity that has contributed in attracting major
multi-national organisations such as Oracle, Microsoft and Cisco
• Alexander House occupies a prominent position on Kings Road, a main arterial route linking the
town centre and the A3290/A329M
• The property is situated less than 3/4 of a mile from Reading Station and the Oracle Shopping
Centre and less than 2/3 of a mile from the dual carriageway A3290
• The building extends to 12,899 sq ft (1,198.3 sq m) with excellent parking for 47 cars (1:269 sq ft)
• The entire property is let to Aon Ltd until 28/9/2017 (5.5 years) at a current rent of £305,000
(£24.21 psf)
In employment terms Reading boasts a higher than average representation in computing, R&D and telecoms. The
town’s highly educated and skilled employment pool largely originate from the university, encouraging organisations
not to relocate away from the town.
Large numbers of major multi-national organisations have been attracted to Reading and companies such as Oracle,
Microsoft and Verizon have established their European HQs in the town. Other substantial occupiers include Foster
Wheeler, Thames Water, British Gas, Prudential, BMW, Cisco and Siemens.
Reading has benefited from considerable infrastructure investment over the past decade. This investment continues
with a £850M project to improve the town’s station.
SITUATION
• Aon Limited has net current assets of £364M and a Dun & Bradstreet rating of 5A1
The property is prominently situated fronting the Kings Road at the junction of Rupert Street and approximately 3/4 of a
mile east of Reading town centre and its comprehensive retail facilities.
• Offers in excess of £2,650,000
Junction 10 of the M4 is easily accessed via the A329M, which lies 2/3 of a mile to the east of the property.
• Initial yield of 10.9% (net of purchaser’s costs of 5.8%)
The surrounding area provides a mix of offices, residential and educational uses.
HIGH
WYCOMBE
4
Reading is the major commercial and administrative
centre in the Thames Valley, located approximately 40
miles west of London and 26 miles south east of Oxford,
with a population of over 230,000 (2001 Resident Urban
Population).
Reading is the UK’s most populous town without city
status.
Road
The town has excellent road communications with
junctions 10,11 and 12 of the M4 motorway immediately
south of the town centre, affording rapid access to
the national motorway network and the following
destinations:
Maidenhead
Windsor
Heathrow Airport
Oxford
Central London
16 miles
20 miles
30 miles
41 miles
42 miles
Rail
The town centre mainline railway station is the second
busiest outside of London and acts as major southern
hub. The station is currently undergoing a substantial
upgrade which will increase its passenger capacity to 35m
passengers per year by 2016.
There is stong speculation that Network Rail will extend
Crossrail to Reading by 2018.
Central London
Oxford
Bristol
25 minutes
23 minutes
53 minutes
A40
A34
BRISTOL &
SOUTH WALES
READING
A4
PADDINGTON
15
6
WATERLOO
A4
14
A30
13
HEATHROW
A205
STAINES
10
1
A316
KINGSTON
A329
11
12
A4
A23
BRACKNELL
NEWBURY
A30
CAMBERLEY
A327
A34
SUTTON
11
A24
A3
WOKING
10
4
A320
5
M25
9
A217
4a
BASINGSTOKE
SOUTHAMPTON
CHERTSEY
M3
3
A33
A339
LONDON
1
4
WINDSOR
M4
A329 (M)
12
A40
M25
7
8/9
13
1
SLOUGH
A4155
A4074
ALEXANDER HOUSE
A405
UXBRIDGE
MAIDENHEAD
A329
1
16
OXFORD
A30
Air
Heathrow Airport is 28 miles to the East and is easily
accessible via the nearby M4 motorway, with an
approximate journey time of 30 minutes. Gatwick Airport
is located approximately 60 miles to the east with a
journey time of 60 minutes.
M1
M40
LOCATION
A3
7
8
FARNBOROUGH
6
REDHILL
GUILDFORD
A31
M23
A24
FARNHAM
GATWICK
A3
BRIGHTON

3. DESCRIPTION
TENURE
The property was completed in 1992 and comprises a modern selfcontained, air-conditioned office arranged over ground and first
floors. Car parking is provided in secure surface and basement car
parks.
The property is Freehold.
KINGSG
AT
E S
El Sub Sta
30
1
78
9 10
25 to 45
REET
3
2
RUPERT
ST
D ROAD
4
5
Kingdom
NORWOO
6
The building has regular L-shaped floor plates with a central core.
Each floor benefits from male and female toilets with the ground
level having an additional disabled toilet.
Saxon
Court
9
Hall
16
Haven Co
urt
Haven
Court
1 to 7
El Sub Sta
The base specification includes:
• Air-conditioning
• Raised floors
• 12 person passenger lift
• Suspended ceilings
The Pinnacle
1 to 53
Hal
Point
1 to 99
Baths
Wycliffe
Baptist
Crossw
ay
C
Alexander House
LB
231
KING'S
318a
318
308 to 31
4
Club
Avon
House
43.6
ROAD
320
Upin Arms
(PH)
Club
Principal Court
PCs
For idicative purposes only.
147
10m
20m
139
30m
TENANCY
D
LON
129
ON R
OAD
43.8m
112
108 to
0m
Ordnance Survey © Crown Copyright 2012. All rights reserved. Licence number 100020449. Plotted Scale - 1:1124
Tenant
Area sq ft
Lease Start
Lease Expiry
Rent Review
Current Rent per annum
Rent psf
Aon Ltd
12,899
11.11.1992
28.09.2017
29.09.2012
£305,000
£24.21 per sq ft
ACCOMMODATION
TENANT FINANCIAL INFORMATION
READING OFFICE OFFICE MARKET
The property has been inspected and measured in accordance with
the 6th edition of the Royal Institution of Chartered Surveyors Code
of Measuring Practice.
D&B Risk Assessment – 5A1 – Minimum risk of business failure.
During the downturn Reading has emerged as one of the most resilient
south-east office centres, accounting for 42% of the south east take up
in 2010.
The net internal floor areas can be summarised as follows:
Ground Floor Reception
606 sq ft
56.3 sq m
Ground Floor Offices
5,808 sq ft
539.6 sq m
First Floor Offices
6,485 sq ft
602.4 sq m
12,899 sq ft
1198.3 sq m
TOTAL
The site area is approximately 0.4 acres.
A total of 47 car spaces are provided giving an excellent town centre
ratio of 1:269 sq ft (1:25 sq m).
31 Dec 2010 (000’s)
31 Dec 2009 (000’s)
31 Dec 2008 (000’s)
Sales Turnover
640,490
645,989
530,633
Profit Before Taxes
100,032
27,740
126,656
Net Worth
364,175
175,742
170,864
AON LTD
AON Corporation, AON Ltd’s ultimate parent, employs 50,000 employees globally with 2010
total annual revenue exceeding $8.5bn.
Reading is the largest office market in the south east with a total stock of
12.1m sq ft representing 20% of the M4/Thames Valley market and 7% of
the entire south east market.
According to Experian, the Reading area will benefit from above average
economic growth up to 2026. This will cement Reading’s status as the
economic capital of the Thames Valley.
There are currently no speculative developments underway which has
resulted in Reading being one of the few office locations nationally to
see rental growth in the last 12 months. Prime rents in town are currently
£30.00 sq ft and out of town £27.50 sq ft.

4. VAT
The property is elected for VAT purposes and it is anticipated that
the transaction will be treated as a TOGC.
INVESTMENT CONSIDERATIONS
• Excellent transport links
• Core Thames Valley location
• Freehold
• Excellent car parking ratio - 1:269 sq ft
• Blue chip tenant/income
• Potential future alternative uses
PROPOSAL
Offers in excess of £2,650,000 for the freehold interest reflecting
a net initial yield of 10.9% net of usual purchaser’s costs of 5.8%.
Recent Investment Transactions
Date
Town
Property
Price
Yield
Capital Value psf
Size sq ft
Term Certain
Purchaser
Jan 2012
Guildford
65 Woodbridge Road
£11.6m
6.52%
£380.00
30,505
6.5 years
Mayfair Capital
Jan 2012
Uxbridge
Anixter House
£5.3m
10.5%
£221.00
24,000
1 year
Aviva
Dec 2011
Reading
3 Manor Park
£8.0m
7.35%
£222.00
36,050
10.8 years
Private Investors
Aug 2011
Redhill
25 Clarendon Road
£3.45
10.4%
£230.00
15,000
4.0 years
Boultbee
Aug 2011
Watford
40 Clarendon Road
£9.95
9.5%
£201.00
49,393
2.5 years
Threadneedle
Dec 2010
Reading
Adelphi Building
£7.34m
7.6%
£253.10
29,000
7.5 years
F&C
July 2011
Cambridge
140 Cambridge Science Park
£6.32m
7.85%
£263.33
24,000
3.5 years
Mayfair Capital
Jul 2010
Theale
1600 Arlington Business Park
£13.25
10.4%
£230.00
57,100
5.2 years
Praxis
Misrepresentation Act 1967:
BNP Paribas Real Estate Limited for themselves and for the vendor(s) of this property whose agents they are, give notice that:
i) These particulars do not constitute, nor constitute any part of, an offer or contract.ii) None of the statements contained in these particulars as to the properties are to be relied on as statements or
representations of fact.
iii) Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.iv) The vendor(s) or lessor(s) do not make or
give and neither BNP Paribas Real Estate Limited nor any person in their employment has any authority to make or give, any representation or warranty whatever in relation to this property.
Finance Act 1989:
Unless otherwise stated all prices and rents are quoted exclusive of VAT.
Property Misdescriptions Act 1991:
These details are believed to be correct at the time of compilation, March 2012, but may be subject to subsequent amendment.
CONTACTS
Richard Talbot-Williams
Tel: 020 7338 4244
richard.talbot-williams@bnpparibas.com
Charles Ingham
Tel: 020 7338 4336
charles.ingham@bnpparibas.com
Edward Cornwell
Tel: 020 7484 8126
edward.cornwell@bnpparibas.com