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DISCLAIMER: Please read and scroll to the bottom to agree to the terms and conditions This website is designed solely for investment professionals. If you are not an investment professional, you should not proceed any further. The content of this website should not be relied upon by, disclosed to, or circulated to, private investors. Property Development GP Limited is neither authorised nor regulated by the Financial Services Authority (FSA). Registered in England no. 8200903, with registered office at 23 Austin Friars, London EC2N 2QP. Please read the following information carefully and confirm that you are a professional adviser and that you have read and understand the legal information and risk warnings below. If you choose to continue, you agree to be bound by the terms detailed herein. Terms and Conditions For the purpose of compliance with the UK Financial Services and Markets Act 2000 (FSMA), this material is communicated by Property Development GP Limited; and the content of this financial promotion has been approved for the purposes of section 21 of the FSMA by Park Caledonia Capital Limited (“PCC”) which is authorised and regulated by the Financial Services Authority (FSA) under FSA registration no. 402192 and has its registered office at Erskine House, 4th Floor, 68-73 Queen Street, Edinburgh EH2 4NR. Important Notice This website provides information in respect of the Property Development Fund (the “Fund”), which consists of a limited partnership with an associated exempt unit trust. The Operator of the Fund is PCC. The Trustee of the unit trust is Vistra Trustees (UK) Limited. The Asset Manager for the Fund is Charterage Limited. The limited partnership and the unit trust (collectively either the “Fund” or the “Schemes”) are unregulated collective investment scheme as defined in the FSMA. The Schemes have not been authorised or otherwise approved by the FSA and, as unregulated collective investment schemes, cannot be marketed in the UK to the general public. The Fund described in this website is exempt from the scheme promotion restriction (in Section 238 of FSMA) on the communication of invitations or inducements to participate in unregulated schemes on the grounds that such invitations or inducements will be issued in the UK only to restricted categories of recipients, namely to (i) persons authorised under FSMA or (ii) other persons falling within the definition of “investment professional” in Article 4 of the FSMA 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (as amended) (the “CIS Order”), or (iii) to persons falling within Article 22 of the CIS Order (“High net worth, companies, unincorporated associations etc”) or (iv) to persons falling within Article 23 of the CIS Order (“Sophisticated Investors”) who have a current certificate in writing or other legible form signed by a person authorised under FSMA to the effect that he is sufficiently knowledgeable to understand the risk associated with participating in unregulated schemes and who have signed within the period of 12 months ending on the date of the Information Memorandum for the Fund a statement in the terms set out in paragraph (1)(b) of Article 50 of the CIS Order or to any other person to whom the promotion may otherwise lawfully be made in accordance with the CIS Order or Section 3.11 of the Conduct of Business Sourcebook of the FSA’s Handbook of Rules and Guidance. Interests in the Fund are only available to such categories of person described above and no other person should read, disclose, circulate or rely on the content of the Information Memorandum for the Fund. Risk Warning An investment in either of the Limited Partnerships or the Exempt Unit Trusts involves a degree of risk. Investment results may vary substantially over time, and there can be no assurance that the Funds will achieve any particular rate of return. If you act in reliance upon the information on this website for the purposes of engaging in an investment activity you may be exposed to a significant risk including losing all the capital you have invested. If you are in any doubt about the investments described in this website you should consult with an authorised person who specialises in the types of investments described. Any investor must read carefully and agree to be bound by the terms and conditions contained in the Information Memorandum for the Fund. Copyright and Confidentiality Copyright, trademarks, database rights and all similar rights in this website and the information contained in it are owned by Charterage Limited. Furthermore you acknowledge that the information contained in this website is strictly confidential. You agree to treat such information as confidential and not to use it for any other purpose than to consider (for either yourself or for your client) an investment in the Fund. You may use the information on this site and reproduce it in hard copy for your personal reference only. Such information may not otherwise be reproduced, distributed, stored in a data retrieval system or transmitted in any form or by any means without the prior written permission of Charterage Limited. Nothing on this website should be considered as granting any licence or right under any trademark of Charterage Ltd. Governing Law You agree that your use of this website and any dispute arising in relation to this website is subject to English law and you submit to the jurisdiction of the English courts in connection with any such dispute.