FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
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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 />
BEAULIEU 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 />
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