KEY INVESTMENT - NovaLoca
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Transcript of KEY INVESTMENT - NovaLoca
KEY INVESTMENTCONSIDERATIONS
Rare office and residential opportunity offered in one of London’s most evolving locations.
• Freehold • Office&Residentialuseextendingto4,508sqft • EffectiveVacantPossession • ProminentDoubleFrontage • Opportunitytoaddheightandadditionalareatotherears.t.p. • Ofinteresttodevelopers,investorsandowneroccupiers • Offersareinvitedinexcessof£3,200,000subjecttocontractandexclusiveof VATequatingtoaCapitalValueof£710psf
2 KEY INVESTMENT CONSIDERATIONS
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LONDON BRIDGE
BOROUGH
LONDON WATERLOO
SOUTHWARKLONDON WATERLOO EAST
LAMBETH NORTH
ELEPHANT & CASTLE
LONDON BRIDGE
KENNINGTON
4 LOCATION AND TRANSPORT
LOCATIONAND TRANSPORT
LOCATION
SouthBankisnowwellestablishedasacorelocationincentralLondon,competingoneverylevelwiththetraditionalareasoftheWestEndandtheCity.ThedistricthaslongbeenseenasasignificantculturalhubandishometomanyofLondon’swellknownculturalinstitutionsincludingTheNationalTheatre,TheGlobeTheatre,TateModern,BoroughMarket,andtheWhiteCubeGallery.
SouthBankcontinuestobenefitenormouslyfrombeinganalternativetotheWestEndandCitymarkets,asoccupiersseekamorevibrantworkingenvironment,thatoffersarichblendofrestaurants,retail,andcontemporaryculture.
SITUATION
112-114TooleyStreetoccupiesaprominentfreeholdsiteonthesouthsideofthestreet,closetothejunctionofBursarStreet.ItissituatedimmediatelyoppositethehugelysuccessfulMoreLondonEstatewithitsimpressiveline-upofcorporateoccupiersandtheGLA(GreaterLondonAuthority).
Occupiersfromallsectorshavebeenattractedtothewiderareaincluding:media(FinancialTimesGroup),banking(RBSandLloyds),utilities(PetroCanada),accountancy(Ernst&Young,PWC),andthelegalprofession(LawrenceGraham,NortonRose).
LONDON BRIDGE REDEVELOPMENT
NetworkRailarerebuildingLondonBridgestation.WhentheProgrammeiscompletedin2018,thestationwillhavemorespace,improvedconnectionstomoredestinations,andmorereliableservices.TheimprovementswillbenefitthestretchofTooleyStreetimmediatelytotheWestof112-114withimprovedpublicrealmandamoreactivefrontage.
LONDON BRIDGE
BOROUGH
LONDON WATERLOO
SOUTHWARKLONDON WATERLOO EAST
LAMBETH NORTH
ELEPHANT & CASTLE
LONDON BRIDGE
KENNINGTON
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TRANSPORT
Connectionsareexcellent;LondonBridgeMainlineandUnderground(JubileeandNorthernLines)Stationsareincloseproximity.LondonBridgeStationisundergoingmajorworksinconjunctionwiththedevelopmentoftheLondonBridgeQuarter.Therehasbeenasignificantamountofinvestmentintotheinfrastructure,amenities,andpublicrealmspacewithintheimmediatevicinity.
TherearealsonumerousbusroutesprovidingaccesstonorthLondon,southLondon,theCityandtheWestEnd.
6 DESCRIPTION AND ACCOMMODATION
DESCRIPTIONAND ACCOMMODATION
DESCRIPTION
112-114TooleyStreetcomprisesaVictoriandoublefrontedpropertyarrangedoverlowerground,ground,andtwoupperfloors.Theofficeaccommodationonthegroundfloorbenefitsfrombeingopenplanandofferssignificantoutsidespacetotherear.Thelowergroundfloorcomprisesarchivespaceandmeetingrooms,andbenefitsfromnaturallightviapavementlightsandarearlightwell.Theupperpartsof112compriseofficespace,withWC’sonthelandingsandanoutsideterraceatfirstfloorlevel.Theupperpartsof114areconfiguredasanattractivesplitlevelselfcontainedtwobedroomflat,withanoutsideterraceatfirstfloorlevel.
DESCRIPTION AND ACCOMMODATION 7
ACCOMMODATION
FLOOR PLANS
FLOOR (SQ M) (SQ FT)
RESIDENTIALSecondFloor 46 496FirstFloor 50 538
TOTALRESIDENTIAL 96 1,034
OFFICESecondFloor 33 357FirstFloor 30 326GroundFloor 150 1,610LowerGroundFloor 110 1,181
TOTALOFFICE 323 3,474
GRAND TOTAL 419 4,508
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8 KEY DEVELOPMENTS IN THE LOCALITY
KEY DEVELOPMENTSIN THE LOCALITY
THE SHARD
Only250yardsfrom112-114TooleyStreet,thisdevelopmentencapsulatesSouthwark’sfutureasamajorofficelocation.
Completedin2012bytheSellarPropertyGroup&QatariDiar,TheShardisnownearingfulloccupation.At80storeys,itisEurope’stallestbuilding.
25 LONDON BRIDGE STREET
Knownas“TheBabyShard”,NewsCorporationUK,pre-lettheentire430,167sqftofofficespacearrangedoverfirsttothe17th-floorofficespacefromLondonBridgeQuarterLtdona30-yearlease.
25 LONDON BRIDGE STREET
MORE LONDON ESTATE
THE SHARD
KEY DEVELOPMENTS IN THE LOCALITY 9
MORE LONDON ESTATE
Situateddirectlyopposite160TooleyStreet,thisawardwinning,13acredevelopmentbyC.I.TGroup,frontstheRiverThamesandcomprisesofapproximately3millionsqftofpredominantlyofficeaccommodation.Itsvibrantmixofretailandleisureuses,hasmadeitthecentrepieceofSouthwark’sofficemarket,attractingtenantssuchasNortonRose,LawrenceGraham,PWC,EYandHilton.
CITY HALL
FormingpartoftheMoreLondonEstate,CityHallishometotheGreaterLondonAuthority(GLA).Thebuilding,designedbyFoster&Partners,hasbecomeawellknownLondonlandmarkandcomprisesof185,000sqftofofficespace.IthasbeenoccupiedbytheGLAsinceitscompletionin2006.
LONDON BRIDGE
BOROUGH
LONDON WATERLOO
SOUTHWARKLONDON WATERLOO EAST
LAMBETH NORTH
LONDON BRIDGE
MORE LONDON ESTATE
CITY HALL
PLANNING
ThepropertyissituatedintheLondonBoroughofSouthwark.Weunderstandthepropertyisnotlisted,butwithintheTooleyStreetConservationArea.
TENURE
Thepropertyisheldundertwoseparatefreeholdtitles:112TooleyStreet;LN139992and114TooleyStreet;SGL307978.Theofficeelementistobeofferedwithvacantpossession.TheresidentialelementissubjecttoanAST,wehavebeeninformednoticehasbeenservedinrespectofthis.
EPC RATING
ThepropertyhasanEPCratingofE.
VAT
ThepropertyhasnotbeenelectedforVAT.
10 FURTHER INFORMATION
FURTHERINFORMATION
CONTACT DETAILS 11
PROPOSAL
Weareinstructedtoseekoffersinexcessof£3,200,000(ThreeMillion,TwoHundredThousandPounds),subjecttocontractandexclusiveofVATforthefreeholdinterest.Thisrepresentsacapitalvalueof£710psf.
GET IN TOUCH
Forfurtherinformationortoarrangeaviewingpleasecontactthesolesellingagents:
UNION STREET PARTNERS OneAmericaStreetLondon,SE10NE
NICK WILLSONDirectLine: 02078553537Email: [email protected]
VINCENT CHEUNGDirectLine: 02037578571Email: [email protected]
MisrepresentationAct1967IMPORTANT:Theseparticularsdonotconstituteeitherthewholeoranypartofaninvitation,offerorcontractinrelationtothepropertydescribedintheparticulars.NeitherFarebrother,noritsDirectors,employeesandagents,haveauthoritytomakeorgiveanyrepresentationorwarranty,expressorimplied,onbehalfofanypartyinrelationtotheproperty.Whilsttheparticularsaregiveningoodfaith,intendingpurchasersortenantsmustsatisfythemselvesindependentlyastotheaccuracyofallmattersonwhichtheyintendtorely.Allnegotiationsaresubjecttocontract.October2015.
