TeddingTon R I V E R S I D E

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1 Teddington RIVERSIDE

2 Teddington RIVERSIDE A rare, riverside development opportunity in prime, south west London. Planning permission for demolition of the existing buildings and redevelopment to provide 213 new build apartments and 6 new build houses together with 258 parking spaces and refurbishment of an existing house. Proposed new build, net saleable area of 20,830 sq m (224,211 sq ft) 1.8 hectares (4.45 acres) Freehold for sale Cover photograph taken using long exposure photography.

3 How calm! How still! The only sound, The dripping of the oar suspended! The evening darkness gathers round, By virtue s holiest powers attended. Lines written near Richmond, upon the Thames at evening, William Wordsworth

4 LOCATION The site is located in the prime, south-west London area of Teddington, between the towns of Twickenham and Hampton Wick, and falls in the London Borough of Richmond upon Thames. The neighbouring towns of Ham, Kingston upon Thames, Richmond upon Thames, Twickenham and Hampton Wick are all easily accessible from the site. It is therefore possible enjoy everything Teddington has to offer as well as the likes of Hampton Court Palace, Richmond Park, and world famous Twickenham Stadium, the home of English rugby. The area has access to international travel via Heathrow airport, located approximately 8.9km (5.5 miles) to the north-west of Teddington, as well as the UK motorway network via the M3, situated approximately 8km (5 miles) to the west, and the M25 London orbital. M1 A1(M) M11 M40 M4 Central London M3 M25 M20 M26 M23

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6 TEDDINGTON Situated on the north bank of the Thames, Teddington is an ancient settlement with its origins dating back over 1,000 years. Although it has grown in size over time, driven in part by its proximity to Hampton Court Palace and the introduction of the rail network in the 19th Century, Teddington has retained its leafy, village-like atmosphere. Cafe culture, park life and unique shopping opportunites abound The High Street conveniently offers a range of independent shops, bars and restaurants alongside national retailers, complementing the extensive shopping centres of nearby Richmond and Kingston. The Landmark Arts Centre delivers wide ranging arts and educational programmes for the local residents and wider community as well as exhibitions and concerts, whilst the area s biodiversity can be experienced along various riverside Thames paths or in the open, green spaces of Bushy Park and Hampton Court Palace gardens. The Lensbury, a hotel and private members club situated by Teddington Lock, is set in 25 acres of landscaped grounds and provides a variety of health club and spa facilities. Teddington Lock represents the uppermost point at which the River Thames is tidal. Teddington, Kingston and Ham have a number of Outstanding OFSTED-rated primary and secondary schools that are within a mile of Teddington Riverside. Hampton Court Palace and Georgian Gothic Revival villa Strawberry Hill House are local attractions Direct trains to London Waterloo station in 36 to 41 minutes. (source: Kingston and Richmond shopping centres within 15 minutes drive. (source: route-planner) Outstanding OFSTED-rated primary and secondary schools nearby. Accessible to Heathrow Airport, M3 and M25 motorways.

7 Dawn at Bushy Park

8 HISTORY OF THE SITE Established back in the early 20th century, Teddington Studios has long been at the heart of the UK entertainment industry, with an output that has ranged from silent films through to popular TV programmes such as The Benny Hill Show, Callan, Morecambe & Wise, Minder and contemporary TV comedies including The Office. Throughout the decades, Teddington Studios has welcomed entertainment icons including The Rolling Stones (right) and The Beatles (left) who arrived by boat

9 THE SITE Teddington Riverside is a broadly square site, situated on the north bank of the Thames. Extending to approximately 1.8 hectares (4.45 acres), the site comprises a series of non-descript buildings that have been adapted and extended over the course of the past 80 years and are currently in office and film studios use with the remaining property being occupied by a multi-storey car park. The notable exception to this general built form is a detached property known as Weir Cottage, which is identified as a Building of Townscape Merit by the London Borough of Richmond-upon-Thames. Originally a residential property, Weir Cottage has more recently been used as offices and storage. The site extends to the mean high water mark of the River Thames to the north, and is bounded to the south by Broom Road, to the west by the Anglers public house, and to the east by the Lensbury. St Mary s University playing fields are located on the opposite side of Broom Road. Access to Teddington Riverside is from Broom Road. Teddington High Street is located approximately 300m (0.2 miles) to the east of the site and Teddington station approximately 1km (0.7 miles) to the east of the site. Teddington Studios Ordnance Survey Crown Copyright All rights reserved.

10 THE DEVELOPMENT The development proposals designed by award-winning architects TP Bennett seek to open up the site and create a greater connectivity between Broom Road and the River Thames. Extensive consultation with local residents and the local authority has resulted in a scheme with a wharf-like ambience in a parkland setting. The proposals are sympathetic to the site s riverside location and its partial positioning in the Teddington Lock Conservation Area. CGI of proposed development

11 A new riverside promenade with public access. Five new-build apartment buildings providing 213 apartments and 6 new-build houses. Extensive landscaped grounds. Building heights ranging from 3 to 7 storeys above ground. Proposed new build, net saleable area 20,830 sq m (224,211 sq ft). Refurbishment of Weir Cottage as a 4/5 bedroom single dwelling. 258 parking spaces provided in a secure car park at basement and ground levels. CGI of proposed development

12 CGI of proposed development

13 CGI of proposed development

14 River Thames Riverside Promenade Playable Space Playable Space Riverside Garden Communal Residents Garden Communal Residents Garden Riverside Boulevard B B Riverside Boulevard A A Piazza C C AREA SCHEDULE Unit type NSA GIA 1 Bed 2 Bed 3 Bed 4 Bed TOTAL sq m sq ft sq m sq ft Block A Apart 3,796 40,854 4,717 50, F Raised timber deck over parking for amenity and flood escape route E Shared Surface Boulevard D D Shared Surface Boulevard Raised timber deck over parking for amenity and flood escape route Block B Apart 4,801 51,677 5,566 59, Block C Apart 7,605 81,856 9, , Block D Apart 2,838 30,551 3,396 36, Block E7 Apart ,560 1,157 12, House E House 809 8, , TOTAL 20, ,211 25, , Legend Application boundary E Existing trees to be retained Proposed tree planting Proposed specimen small tree / shrub planting Informal natural play elements to include boulders and logs Lighting Evergreen hedge planting Timber and steel benches Natural stone paving to riverside Broom Road Mixed shrub and herbacaeous planting: species selected for shade Bollards Black asphalt to access ramps into undercroft carpark

15 PLANNING SUMMARY TECHNICAL OVERVIEW Planning Permission Section 106 Agreement Rights of Light Flood Risk Mitigation On 22nd October 2014, the London Borough of Richmond upon Thames resolved to grant planning permission (Ref:14/0914/FUL) for: Demolition of the existing buildings with the exception of Weir Cottage and the erection of part four/part five/part six/part seven storey building to provide 213 flats, erection of 6 three storey houses to Broom Road frontage, use of Weir Cottage for residential purposes, provision of 258 car parking spaces at basement and ground level. Closure of existing access and provision of two new access from Broom Road, provision of publicly accessible riverside walk together with cycle parking and landscaping. A small portion of the site, primarily encompassing Weir Cottage and along its north edge, is contained within the Teddington Lock Conservation Area. Under the terms of the draft s106 agreement, the Developer is obliged to provide the following contributions: 5% on-site affordable housing requirement, to be provided as 12 shared ownership apartments in Block E7. 8,000,000 payment in lieu of providing further affordable housing. Supplementary affordable housing contribution currently estimated at approximately 1,450,000. In addition to the above affordable housing requirement and associated financial contributions, the Developer will be required to undertake specific Highways and Riverside Walkway works. These latter provisions will ensure public access is maintained across the development once the works are complete. The s106 Agreement contains further obligations that are personal to the Vendor, but these will not inhibit the Developer s ability to commence construction and sell the completed development. Community Infrastructure Levy (CIL) A technical analysis has been undertaken by Savills on Rights of Light. The survey concluded that the impact of the approved TP Bennett development has a negligible impact on neighbouring properties and that there would not be any corresponding, material rights of light injuries. Ground Conditions A preliminary ground investigation report has been undertaken by CampbellReith consulting engineers. The report stated that risk of contamination is Low to Moderate. A small hotspot of PAH and Nickel was found in the made ground but could be mitigated through the construction process. It is believed that strip foundations are suitable for the low rise houses, with pile foundations advised for the apartment buildings. For detailed design, further investigation will be required once the site is vacant. Full reference should be made to the CampbellReith Land Quality Statement for full information. A detailed flood risk assessment and supplementary reports were carried out by Hydro-Logic Services. The reports details that the site, despite being in flood zone 3a, has been designed to be flood protected beyond the required levels. In line with the London Borough of Richmond s requirements, an emergency plan has also been prepared to ensure future residents of the development can continue to access and exit the site in the event of localised flooding. The plan comprises a permanent management facility to be provided on site, that would be staffed 24/7 in the event of a major flood. The flood proofed basement will house a fleet of five amphibious vehicles that will enable the continued access to and egress from the site should the flood event be of such a severity that other forms of access become compromised. None of the existing buildings on the site are listed, although Weir Cottage is identified as a Building of Townscape Merit by the local authority. Although, not on the site, neighbouring Teddington Footbridge is Grade II listed. The London Borough of Richmond adopted their Borough CIL on the 1st of November 2014 and consequently the Developer will be obliged to pay both this and Mayoral CIL. Teddington Riverside falls in to the lower of the two Borough CIL charging zones, where additional residential accommodation will be charged at 190 per square metre. The final CIL payments are not currently formalised, but based on the CIL Questionnaire submitted as part of the planning application and taking into account the existing buildings and proposed affordable housing, the payments are estimated as follows: Mayoral 300,500 Borough 1,141,900

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17 House Price Growth Q to Q Source: HM Land Registry RESEARCH UK and London Market Overview Across much of the UK, housing markets are now returning to growth. According to the Nationwide house price index, the average UK house price increased by 4.7% in Q2 2014, and, after taking into account seasonal effects, annual prices were up 11.5% compared with Q Growth has been largely underpinned by a sustained improvement in the economy, critically low interest rates and the unprecedented period of low transaction volumes creating pent up demand. Regions that have seen stronger house price recovery have seen greater demand from cash and equity-rich purchasers. Accordingly, London has outperformed the rest of the UK, and has being doing so since the mid s. In London, annual house prices were up 25.8% on the previous year, with growth totalling 7.6% during the second quarter, which represents the highest growth rate since Q The Land Registry index results mirror the move back into strong growth, recording annual growth to May 2014 of 18.5% for London. House prices in the borough rose above the 2007/08 peak in Q and currently stand at 42% above the peak. The London Borough of Richmond upon Thames began to outperform the London average from Q onwards. The average London house price currently stands 30% above the peak at August Average transaction value to August 2014 Source: HM Land Registry In the 12 months to August 2014, house prices in Richmond grew by 24.4% and over the quarter prices grew by 9.8% in the borough. The average transaction value in TW11 stands at 604,994, with higher value properties located in the south of the postcode district and eastwards towards the riverside.

18 TENURE PROPOSAL Tenure & Tenancies The site is sold with the benefit of a freehold title, subject to an agreement with Vodafone Limited. The agreement relates to the installation of telecommunications equipment for a term of 10 years, expiring on 23 September Vodafone are currently holding over and consequently the Vendor has served the requisite s25, paragraph 20 and paragraph 21 notices in order to secure vacant possession. It is expected that the purchaser will conclude the vacant possession process should Vodafone still be in occupation at the point of sale completion. The Proposal Offers are invited for the freehold interest Method of Sale The property is to be sold by informal tender. Offers are invited subject only to contract. A bid deadline will be set in due course. VAT The property is elected for VAT Further Information Supporting information can be found on the website: Viewings All viewings are by appointment only through the Selling Agent

19 Hampton Court Bridge

20 CONTACTS For further information please contact one of the following: Robert Pollock Director Andrew Cooper Associate Rob Wilson Graduate Surveyor IMPORTANT NOTICE Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, images and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Credit for Contacts Photography: Max Ellis, Andrew Shaylor Illustration: Max Ellis Getty Images Press Association Images Alamy Topfoto Giles Christopher High Level Photography Ltd Andrew Shaylor

21 Teddington RIVERSIDE