FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
FCC Proudreed Properties 2005 HSBC SG CORPORATE ... FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
Finally, we would ask that neither the whole nor any part of this report or any reference thereto may be included in any document, circular or statement without our prior approval of the form and context in which it will appear, save that we agree to this report being included in the Offering Circular. Such publication of/or reference to this report will not be permitted unless it contains a sufficient contemporaneous reference to any departure from the Statements of Asset Valuation Practice and Guidance Notes published by the Royal Institution of Chartered Surveyors or the incorporation of the special assumptions referred to herein. This valuation is provided for the stated purposes and is for the use only of the party to whom it is addressed and no responsibility is accepted to any other party. We remain at your disposal should you have any queries regarding this valuation or the attached report. Yours faithfully, Sara Lucas MRICS Director Savills 99
15 June 2005 Proudreed France Sarl & Paris Properties Sarl c/o Proudreed 36 avenue Hoche 75008 Paris HSBC Bank plc (in its capacity as Joint Lead Manager and Hedging Provider) Level 3 8 Canada Square London E14 5HQ Société Générale (in its capacity as Joint Lead Manager, FCC Servicer and Hedging Provider) Tour S.G 17 Cours Valmy 97972 Paris La Défense Eurotitrisation (in its capacity as Management Company) 20 Rue Chauchat 75009 Paris CCF (in its capacity as Custodian, Liquidity Facility Provider and FCC Servicer) 103, Avenue des Champs-Elysées 75008 Paris Dear Sirs, 55 boulevard Haussmann 75008 Paris T: +33 (1) 44 51 73 00 F: +33 (1) 44 51 73 01 savills.com PPP PORTFOLIO In accordance with the letter of instruction dated 15 May 2005 received from Proudreed France Sarl and Paris Properties Sarl, a copy of which is attached to this certificate, we have prepared updated valuations of the 21 properties in the above portfolio in order to provide you with our opinion of their market value as at 31 May 2005. In accordance with your instructions, the properties have not been revisited and have therefore been re-valued on a desk-top basis. We assume that no material changes have occurred to either the properties or their surroundings since our last inspections, other than those indicated to us by you. We reserve the right to amend our valuation should this assumption prove to be incorrect. The valuations have been prepared for your internal purposes but may be required for secured lending. This report and valuations can be disclosed in the Offering Circular. Offices in Europe, Asia, Australasia, Africa. Strategic alliance with Trammell Crow Company in the USA and Canada. Société Anonyme au Capital de 450.000 u Cartes Professionnelles Transactions Immobilières et Fonds de Commerce No T 0365 Préfecture de Police de Paris Gestion Immobilière No G 0566 Caisse de Garantie de la FNAIM 89 rue La Boétie 75008 Paris No Adhére nt 00102 R.C. 662045517 B Paris N° SIRET 662045517 00031 APE 703 A N° TVA FR65662045517 100
- Page 49 and 50: this judicial procedure. The judgme
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- Page 75 and 76: The ‘‘Due Diligence Criteria’
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15 June <strong>2005</strong><br />
<strong>Proudreed</strong> France Sarl & Paris <strong>Properties</strong> Sarl<br />
c/o <strong>Proudreed</strong><br />
36 avenue Hoche<br />
75008 Paris<br />
<strong>HSBC</strong> Bank plc<br />
(in its capacity as Joint Lead Manager and Hedging Provider)<br />
Level 3<br />
8 Canada Square<br />
London E14 5HQ<br />
Société Générale<br />
(in its capacity as Joint Lead Manager, <strong>FCC</strong> Servicer and Hedging Provider)<br />
Tour S.G<br />
17 Cours Valmy<br />
97972 Paris La Défense<br />
Eurotitrisation<br />
(in its capacity as Management Company)<br />
20 Rue Chauchat<br />
75009 Paris<br />
CCF<br />
(in its capacity as Custodian, Liquidity Facility Provider and <strong>FCC</strong> Servicer)<br />
103, Avenue des Champs-Elysées<br />
75008 Paris<br />
Dear Sirs,<br />
55 boulevard Haussmann<br />
75008 Paris<br />
T: +33 (1) 44 51 73 00<br />
F: +33 (1) 44 51 73 01<br />
savills.com<br />
PPP PORTFOLIO<br />
In accordance with the letter of instruction dated 15 May <strong>2005</strong> received from <strong>Proudreed</strong> France Sarl and<br />
Paris <strong>Properties</strong> Sarl, a copy of which is attached to this certificate, we have prepared updated valuations<br />
of the 21 properties in the above portfolio in order to provide you with our opinion of their market value<br />
as at 31 May <strong>2005</strong>. In accordance with your instructions, the properties have not been revisited and have<br />
therefore been re-valued on a desk-top basis.<br />
We assume that no material changes have occurred to either the properties or their surroundings since our<br />
last inspections, other than those indicated to us by you. We reserve the right to amend our valuation<br />
should this assumption prove to be incorrect.<br />
The valuations have been prepared for your internal purposes but may be required for secured lending.<br />
This report and valuations can be disclosed in the Offering Circular.<br />
Offices in Europe, Asia, Australasia, Africa. Strategic alliance with Trammell Crow Company in the USA and Canada.<br />
Société Anonyme au Capital de 450.000 u Cartes Professionnelles Transactions Immobilières et Fonds de Commerce No T 0365<br />
Préfecture de Police de Paris Gestion Immobilière No G 0566 Caisse de Garantie de la FNAIM 89 rue La Boétie 75008 Paris No Adhére nt 00102<br />
R.C. 662045517 B Paris N° SIRET 662045517 00031 APE 703 A N° TVA FR65662045517<br />
100
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