St. Christopher Nottingham Limited Partnership

• Investment Fund: Term 4/2005 to 4/2012.

• 72 investors, equity at launch £3.29m.

• Deutsche Bank debt at launch (fixed rate) £8.5m.

• Travelodge – 56% of income, also 9 retail units, 2 restaurants and a car park.

• Travelodge lease (25 years) geared to RPI or 2.5% per annum at first rent review, and RPI or open market value, whichever is higher thereafter.

• Anticipated return of 12.5% per annum IRR. (£1 to rise to £2.13).

• £1 worth £0.96 on 4/2007.

• Loan to value 75% on 4/2007.

• Active asset management initiatives ongoing including the letting of a vacant restaurant. Rental growth of retail units ahead of business plan.

For further information please contact evolve