Ridgeford Properties Enters a New Phase in its Plans for the Ultimate 'Urban Village'

LONDON, October 15, 2010 - As one of London's traditionally bohemian areas, Fitzrovia has always
attracted the most creative minds of the time: from such literary elite as
Virginia Woolfe, Dylan Thomas and George Orwell to the artists and media
professionals of today.

It is an area buzzing with eclecticism that has absorbed influences from
its more recognised but still characteristic neighbours - Soho, Marylebone
and Bloomsbury - to create a village-like hub, buzzing with energy. However,
beyond its surrounding neighbourhoods Fitzrovia is relatively unknown and
doesn't form part of the nearby well-trodden tourist tracks. Not for much
longer though…

Ridgeford Properties, a leading London-based property
development company, and Manhattan Loft Corporation, recognised Fitzrovia's
potential several years ago and formed a joint venture partnership to provide
the area with its first new build mixed-use scheme - the Fitzrovia
Apartments.

Sean Murray, Chairman of Ridgeford Properties Limited, added:
"We identified Fitzrovia's potential several years ago - which is highlighted
by the success our development at nearby Weymouth Street - and tracked this
site for some time. We brought Manhattan Loft in as partners for the
development of Fitzrovia Apartments, which is another landmark project that
will cement the area's rising position as one of the most desirable locations
in central London".

According to Harry Handelsman, CEO of Manhattan Loft
Corporation: "Fitzrovia is one of the true gems that make London a great city
and it is rapidly re-emerging as a key location for cool, urban living - 21st
century style It has undergone regeneration over the last decade, and the
Fitzrovia Apartments continues this transformation in the original spirit of
Manhattan Loft".

As a testament to the Fitzrovia's increasing status, the BT
Tower has recently decided to re-open its 34th floor revolving restaurant
(due to welcome diners by the end of 2011) and Pink Floyd drummer Nick Mason
has recently launched a private member's club at One Alfred Place.

Fitzrovia Apartments' architects, HOK, were commissioned to
undertake the project in two phases, the first of which was completed in
December 2009 and comprises 24 luxury private apartments, two penthouses, 14
affordable apartments and a state of the art diagnostic centre for the Royal
Orthopaedic Hospital. Ridgeford Properties and Manhattan Loft were delighted
with the success of phase one: all private apartments were quickly sold and
the hospital is up and running, after its official opening by the Duke of
York officially in April.

With the multi-coloured, glass fin facade of the first floors
of the hospital set off against the strong geometric cladding and limestone
and zinc materials of the floors above, the development has already
established itself as a landmark piece of design in Fitzrovia.

Fortunately, for those who still wish for a slice of this
exciting new development Manhattan Loft and Ridgeford Properties Ltd. are
delighted to announce that the second phase is now underway. This new phase
will encompass 44 luxury apartments and a 3,229 ftsquared Grade II listed
office building.

These apartments, due for completion towards the end of 2012,
include one, two and three-bedroom options and will be finished to an
exceptional level. The immaculate interiors, as directed by MAKE, will
include high performance appliances and sleek stone surfaces in the kitchens
as well as walnut engineered timber flooring in entrance halls and reception
areas. This quality extends to the common areas, where a double height
entrance hall, complete with 24-hour concierge, will lead to a landscaped,
inner courtyard to provide a tranquil respite from the hubbub of city life.
Moreover, the artist and photographer, Peter Lavery, has been commissioned to
undertake the art throughout Fitzrovia Apartments. Secure underground parking
will also be available to residents.

As the only new build residential scheme currently underway in
Fitzrovia, coupled with development's striking architectural merits, there is
no doubt that the second phase will prove as popular as the first. For
potential buyers, Fitzrovia Apartments provides an opportunity to not only
invest in a development shaped by the innovative minds of Ridgeford
Properties and Manhattan Loft but to also buy into a neighbourhood which is
teeming with "cool… 21st century style".

41-51 Bolsover Street, London W1 Fact Sheet:

Phase 1 - completed

    - 26 private luxury apartments - including two stunning penthouse
    properties

    - 14 affordable units - owned and managed by Paddington Churches Housing
    Association - a not for profit organisation with charitable status

    - a 26,910 sq ft (2,500 sq m) state-of-the-art, fully fitted diagnosis
    centre for the Royal National Orthopaedic Hospital.

    Phase 2 - set for completion in mid 2012

    - a further 60 apartments - 44 private with 16 social rental affordable
    units

    - a standalone modern studio office totalling 3,229 sq ft (300 sq m).

Phasing of the nine storey development programme enabled the outpatients
facility to remain fully operational while the new diagnostics centre was
built on the southern half of the site.

The development has many environmental initiatives, with the apartments
being built to an EcoHomes rating of 'Very Good' and the medical facility
achieving a NEAT (NHS Environmental Assessment Tool) rating of 'Excellent'.
The scheme includes a green roof and ground source heat pump system that will
provide 10% of the development's overall energy requirement. There is also a
beautifully landscaped internal courtyard, secure underground car park and
cycle store.

The development is situated in Fitzrovia just 100 yards from Great
Portland Street tube station and a stone's throw from the trendy shops and
restaurants of Fitzrovia, nearby Marylebone Village and Oxford Street.
Regent's Park and Regent's Park tube station are located within a
three-minute walk.

The Bolsover Street Phase 1 development team was:

    - JV developer: Ridgeford Properties Ltd & Manhattan Loft Corporation -
    (Bolsover Street Ltd)

    - Main contractor: John Sisk & Son Ltd

    - Architect:  HOK

    - Structural engineer: Alan Baxter & Associates

    - Quantity surveyor: Gardiner & Theobold

    - Mechanical electrical engineer: Maleon

    - Interior design:  MAKE

    - Development management: Ridgeford Consulting Ltd.

Ridgeford Properties / info at ridgeford.com / +44(0)20-7861-2439