37 Battersea Square London SW11 3RA

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1 37 Battersea Square London SW11 3RA

2 Attractive warehouse-style building with private cobbled courtyard in one of the most sought-after areas in Battersea Freehold available Self-contained B1 office building comprising 5,683 sqft NIA (7,922 sqft GIA) arranged over ground and three upper floors Four allocated car parking spaces Potential for change of use to residential and to increase the area of the building to 10,236 sqft NIA (13,014 sqft GIA), subject to planning Part-tenanted and income-producing, with a passing rent of 70,285 p.a. equating to a low average passing rent of per sqft Estimated Rental Value (ERV) of 156,500 p.a. with rent reviews on existing leases in September 2015 Currently 33% vacant and a further 33% under-rented on a headline basis Offers in excess of 4,000,000 representing a capital value of 505 per sqft GIA, or on the proposed scheme a low 307 per sqft GIA Subject to contract

3 37 Battersea Square is located within the attractive Battersea Square Old Town area on the south bank of the River Thames, a short walk from Chelsea and the busy commuter hub of Clapham Junction. Residents and businesses in the immediate area of Battersea Square enjoy a vibrant, piazza-style urban village lifestyle, with local restaurants and bars presenting a convenient choice for office workers and residents alike, including Gordon Ramsay s London House, overlooking Battersea Square. Popular with families, the picturesque Battersea Park offers some 200 acres of recreational space including the Battersea Park Children s Zoo with an aviary, art gallery and walking trails throughout the parkland and along the river. The Royal Academy of Dance and The Royal College of Art are also within a short walking distance.

4 Edith Grove Fulham Rd Bluebird Chelsea National Army Museum The Lister Hospital Cheyne Walk The property benefits from good transport services. Clapham Junction and Battersea Park stations are within close proximity and provide the following travel times to strategic Central London transport hubs: Kings Rd Chelsea Embankment Gardens Battersea Park Children s Zoo Battersea Power Station Lakeside Restaurant FROM TO TRAVEL TIME ROUTE Wandsworth Bridge Rd Imperial Wharf William Parnell Park Imperial Park London House Hotel Rafayel Travelodge Battersea Bridge Rd Le Quecum Bar and Brasserie Clapham Junction Albert Bridge Rd Latchmere Rd The Lighthouse Battersea Park Battersea Park Rd Queenstown Rd Battersea Park Queenstown Road Clapham Junction Battersea Park South Kensington Waterloo Victoria South Kensington Waterloo Victoria 18 mins 10 mins 5 mins 16 mins 20 mins 5 mins Circle/District Lines National Rail National Rail Circle/District Lines National Rail National Rail Taxi Station A3036 BUS ROUTES POINTS OF INTEREST William Parnell Park RESTAURANTS Bluebird Transport Links Clapham Junction Numerous bus routes operate locally giving access to Greater London, including the 170 and 344 to Victoria and the City of London respectively. Imperial Park Chelsea Embankment Gardens Battersea Park National Army Museum Battersea Power Station London House Le Quecum Bar and Brasserie The Lighthouse Lakeside Restaurant Queenstown Road Battersea Park NINE ELMS EXTENSION Transport connections to the Property will be further improved on completion of the extension of the Northern Line to Battersea Station. The new station is fully funded and committed, and is programmed to be fully operational by

5 37 Battersea Square is located within an historic warehouse development, constructed in the early 1800 s. The building was constructed in the 1980 s, and delivered as purpose built offices. The building is arranged over ground and three upper floors, and extends to a total of 5,683 sqft NIA (7,922 sqft GIA) The building is serviced by a 6 person lift and a central staircase. The property benefits from four car parking spaces, which are located in the courtyard SPECIFICATION Partial air conditioning provided by ceiling mounted cassettes Suspended ceilings throughout A combination of raised floors, floor boxes and perimeter trunking Toilet facilities on all floors, with kitchenettes on ground, first and second floors All mains services provided to Property

6 FLOOR USE NIA (SQFT) NIA (SQ M) GIA (SQFT) GIA (SQ M) Ground Floor Office 1, , First Floor Office 1, , Second Floor Office 1, , Third Floor Office TOTAL 5, , Existing floorplans are available in the information pack TENURE The property is registered at the Land Registry under title number TGL The freehold interest in the property is offered subject to the existing tenancies.

7 DEMISE NIA (SQFT) TENANT LEASE TERM RENT PASSING P.A. ERV P.A. Ground Floor 1,991 Royal Academy of Dance 10 years from Rent review Sep 15 28, psf 45, psf First Floor 1,808 Lonres.com Ltd 10 years from Rent review Sep 15 Second Floor 1,744 Vacant Vacant 0 Third Floor 140 Vacant Vacant 0 41, psf TOTAL 5,683 70,285 54, psf 52, psf 4, psf 156, psf The chart opposite provides an income analysis based on the ERV of 156,500. TENANCY PROFILE Lonres.com Ltd (Company no: ) 41% of passing rent D&B rating A1 (minimum risk of business failure) Residential property data provider ( Royal Academy of Dance (RC 436) 59% of passing rent D&B rating O1 (minimum risk of business failure) Registered charity providing dance education and professional membership ( We are advised that whilst the lease terms include internal repairs, service charge provisions cover the cost of maintaining the external business fabric. The tenants pay for their proportions of the building insurance. Therefore it is seen as a virtual FRI structure. Rent passing Under-rented element Vacant area 19% 36% 29,715 56,500 45% 70,285

8 POLICY The site is located within Battersea Square Conservation Area, an Archaeological Priority Area, and a Flood Zone (3). The property is not locally or heritage listed. The site is not located within any of the London Borough of Wandsworth industrial/business/employment areas, or within the Thames Policy Area or Central Activities Zone, nor is the site located within a local or town centre - and therefore fortunately the employment use is not afforded the same protection as within these areas. HISTORY For 34/35/37 Battersea Square DATAROOM ACCESS 2000 No. 35 was granted permission for conversion to residential use A live/work application was granted for consent at no Prior approved application for conversion for ground floor no. 35 to residential. This is yet to be determined.

9 Existing Building Two schemes have been developed for the property by BASE Architects, both of which involve increased massing and change of use to residential The Base Scheme retains the existing four storeys, but extends the massing at each level, in particular the third floor The Base Scheme (shown opposite) increases the floor area to 8,008 sqft NIA (8,656 sqft GIA) and would accommodate 7 residential units An Optimised Scheme has been developed, which assumes the demolition of the existing building and redevelopment over five storeys above a basement level The Optimised Scheme increases the floor area to 10,236 sqft NIA (13,014 sqft GIA) and would accommodate 9 residential units Indicative Computer Generated Image A Rights of Light study conducted by Brooke Vincent and Partners indicates that both the Base Scheme and Optimised Scheme sit within the achievable massing from a Rights of Light perspective The data room contains indicative drawings for two residential led schemes, which increases the existing massing and building area to 10,236 sqft NIA (13,014 GIA)

10 Over recent months and years, London has continued to reinforce its status as both a major global financial centre and the leading Media Tech location in Europe. Transaction volumes in Q were 3.86 bn, representing the highest first quarter Central London office investment volume since It could be argued that the Central London office market is experiencing a near perfect storm of investment conditions where limited supply, strong demand, and a benign interest rate environment, have created an extremely attractive investment product for global investors in search of yield. As investment opportunities across Central London markets remain somewhat restricted, investors have increasingly targeted non-core locations. These areas can provide an opportunity for investors to achieve attractive returns against the backdrop of a Central London occupational market characterised by low vacancy, a limited supply pipeline and high take-up. Supply levels have been further constrained by changes in Permitted Development planning rules, which have led to a significant element of London s none core office stock being lost to residential conversion. PROPERTY ADDRESS PROFILE LEASE EXPIRES PRICE DATE Park Place Lawn Lane London SW8 Office to residential opportunity Between 2014 and ,470,000 ( 522 per sqft GIA) June 2014

11 The Battersea submarket has maintained a high volume of residential sales over the past year and we expect the immediate South Thames locale to outperform the more traditional prime Central London areas. Battersea is a modernised emerging market for residential stock and the supply within the Borough has improved immensely within the last few years. The regeneration of the long dormant Battersea Power Station site, alongside an ever improving retail and restaurant offer locally, has lifted the area yet further. In 2015 we expect to see more buyers coming across from the more traditional areas of Westminster, Chelsea and Kensington, an on-going trend as purchasers seek more space and are priced out of available stock in central locations. It is a trend that we expect to be maintained as Battersea continues its transformation into a prime neighbourhood. ADDRESS SALE PRICE SQFT PSF Battersea Square Mews 1,250,000 1,009 1,239 Norfolk Mansions 1,390,000 1,050 1,324 Lurline Gardens 1,100, ,114 Mallinson Road 650, ,035

12 Our client is seeking offers in excess of 4,000,000, representing a capital value of 505 per sqft GIA, or on the proposed scheme a low 307 per sqft GIA. The land is elected for VAT and we would expect the transaction to be treated as a transfer of going concern (TOGC). Please be advised that our client is not bound to accept any or the highest offer received. Access is by appointment only. Please contact one of the Marsh & Parsons / BNP Paribas Real Estate teams below to arrange a viewing. Simon Maine-Tucker Direct Dial: + 44 (0) smainetucker@marshandparsons.co.uk Charles Holland Direct Dial: + 44 (0) cholland@marshandparsons.co.uk Steven Cooper Direct Dial: +44 (0) steven.cooper@bnpparibas.com Simon Rogers Direct Dial: +44 (0) simon.rogers@bnpparibas.com Adam Renn Direct Dial: +44 (0) adam.renn@bnpparibas.com Misrepresentation Act 1967: BNP Paribas Real Estate Advisory & Property Management UK Limited for themselves and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1. These particulars do not constitute, nor constitute any part of, an offer or contract. 2. None of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact. 3. Any intending purchaser or lessee must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor(s) or lessor(s) do not make or give and neither BNP Paribas Real Estate Advisory & Property Management UK Limited nor any person in their employment has any authority to make or give, any representation or warranty whatever in relation to this property. The Business Protection from Misleading Marketing Regulations 2008: These details are believed to be correct at the time of compilation but may be subject to subsequent amendment. Every attempt has been made to ensure accuracy, however all measurements are approximate and for illustrative purpose only. Not to scale. In accordance with The Consumer Protection from Unfair Trading Regulations 2008 the following particulars have been prepared in good faith and they are not intended to constitute part of an offer or contract. We have not carried out a structural survey and the services, appliances and specific fittings have not been tested. All photographs, measurements floor plans and distances referred to are given as a guide only and should not be relied upon for the purchase of carpets or any other fixtures and fittings. Lease details, service charges and ground rent (where applicable) are given as a guide only and should be checked and confirmed by your Solicitor prior to the exchange of contracts.