FCC Proudreed Properties 2005 HSBC SG CORPORATE ...

For recently completed developments we take no account of any retentions, nor do we make
allowance for any outstanding development costs, fees, or other expenditure for which there may be
a liability.
7. Valuation date
Property values may change substantially over a relatively short period. If you wish to dispose of this
property or part thereof, or to accept a charge over it as security for a loan after the valuation date,
we strongly advise a further consultation with us.
8. Costs of realisation
No allowance is made in our valuations for the costs of realisation, any liability for tax which might
arise in the event of disposal or for any mortgage or similar financial encumbrance over the property.
Our valuations exclude VAT.
9. Confidentiality
The Valuation and Report is for the stated purposes and for the sole and exclusive use of the
addressee and any subsidiary company thereof to whom it is addressed and for their professional
advisors, plus any person or institution whose identity has been previously communicated in writing
to Savills Commercial Ltd as having an interest in the Valuation. The Valuation may not be relied
upon by any third party without the express and written authorisation of Savills Commercial Ltd and
no responsibility shall be accepted to any such third party whatsoever.
10. Exclusions
We have excluded from our consideration any special purchaser who, due to special interest or
circumstances, may wish to purchase the property or the business.
Whilst we have had regard to the general effects of taxation on market value, we have not taken into
account any liability for tax which may arise on a disposal, whether actual or national, and neither
have me made any deduction for Capital Gains Tax, Value Added Tax or any other tax liability.
The Valuation figure in this report is exclusive of VAT. We have not undertaken any enquiries to
ascertain whether or not a sale of the property would attract VAT.
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