JESSICAHOUSE 191 WANDSWORTH HIGH STREET, LONDON SW18 4LS 1
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JESSICA HOUSE Clapham Junction Station Wandsworth Bridge Rd Wandsworth Town Station East Hill c East Putney Station 0.8 miles Putney Bridge Rd A3 A218 The Light Bulb, Workspace The Ram brewery 73,580 sq ft of recently developed 661 new homes. B1 offices 102,000 sq ft of shops, cafés, bars, restaurants, micro brewery and JESSICA HOUSE, 191 WANDSWORTH HIGH STREET, museum. LONDON SW18 4LS Southside Shopping Centre 610,000 sq ft of retail units, restaurants, supermarket, gyms and cinema. Proposed scheme for 26 storey, 228 unit residential tower. 3
LOCATION The large, affluent London Borough of Wandsworth lies only 4 miles south west of London s West End. Wandsworth High Street is a key location in the Borough, lying between existing residential communities such as Putney and the growing leisure destinations in Wandsworth and Clapham. Jessica House is located close to the High Street itself which benefits from a large number of independent boutique style shops. Southside Shopping Centre, which is one of the largest in South West London provides circa 600,000 sq ft of retail and leisure accommodation. Retailers include: TK Maxx, Uniqlo, Waitrose, Topshop, Virgin Active, Cineworld, Easy Gym, Wagamama and Gourmet Burger Kitchen. 4
7 9 DESCRIPTION Jessica House is a modern office building split into two blocks providing a total of 41,954 sq ft. The North Block is arranged over basement, ground, and mezzanine and first to second floors. The basement provides car parking for 20 cars accessed via a ramp from the east. The ground and mezzanine levels are arranged to provide two separate self-contained office suites. The North Block further benefits from a terraced area on the second floor east. The South Block is arranged over ground, mezzanine and first to fourth floors and benefits from a south facing roof terrace. The blocks are linked by a glazed core, with reception, stairs and two passenger lifts. Jessica House as a whole provides flexible floor plates with excellent natural light and can be sub divided into smaller units. Genesis Court 138 134 132 130 WANDSWORTH HIGH STREET 161 159 153157 155 Simrose Court 151 NEWTON'S YARD 149 167 to 173 177 199 201 203 197 Red Lion Square 181 185 187 183 Surgery 205 195 3 DUTCH YARD Dutch Yard House 24 22 14 1 6 1 Hardwicks Square 17 1 to 48 29 1 to 29 Illumina House 1 to 40 27 1 to 13 23 1 to 9 Jessica House BROOMHILL 1 to 22 Lux Apartments Filame R 5
COMMUNICATIONS Putn a ndsw orth Bridge Road CLAPHAM Putney High Street WANDSWORTH PARK WANDSWORTH RIVERSIDE QUARTER PIER River Thames York Road CLAPHAM JUNCTION PUTNEY PUTNEY EAST PUTNEY 10 Minute Walk Upper Richm ond R oa d Putney Bridge Roa d 5 Minute Walk WANDSWORTH TOWN The Ram brewery Hardw icks Sq Armoury Way Ram Street Sw andon Way Fa irfield Street WANDSWORTH TOWN Old York Road Wandsworth High Street Trinity Road St. John s Hill North Side Wa n dsw orth Com m on SPENCER PARK West Hill The Light Bulb, Workspace Buckhold Roa d Southside shopping centre Ga rratt Lane Neville Gill Close WANDSWORTH Spencer Park JESSICA HOUSE WEST HILL KING GEORGE S PARK WANDSWORTH COMMON lsfield Road 6
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ACCOMMODATION TYPICAL FLOORPLANS We understand the total site represents an area of approximately 0.21 hectares (0.53 acres). Plowman & Craven have measured the property in accordance with the RICS code of Measuring Practice (6th Edition) and report the following areas: Floor NIA (Sq Ft) NIA (Sq M) GIA (Sq Ft) GIA (Sq M) 4th 4,019 373.4 4,810 446.9 3rd 4,957 460.5 5,947 552.5 2nd 9,034 839.3 9,987 927.8 1st 9,844 914.5 10,763 999.9 Mezzanine 6,438 598.1 6,989 649.3 Ground Floor. First Floor. Ground 7,662 711.8 9,034 839.3 Total 41,954 3,897.6 47,530 4,415.7 Fourth Floor. 8
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DEVELOPMENT/ACTIVE MANAGEMENT OPPORTUNITY r Existing PD Development of 61 apartments and the B1 refurbishment of the existing Trillium accommodation. No 2016/2182. r Potential residential development Build out additional floor to each wing (subject to planning) and refurbish existing part residential (PD) and part B1 (Trillium) scheme. r Existing Full refurbishment of commercial accommodation and re-let. r Commercial development Build out additional floor to each wing (subject to planning) and refurbish existing accommodation and re-let. 10
TENANCY Jessica House currently produces 448,390 pa and we understand full possession may be obtained by mid April 2018. This is primarily due to a lease expiry to Trillium on the 1st April 2018, who occupy approximately 17,815 sq ft. A tenancy schedule is available on request. MARKET COMMENTARY Wandsworth Town Centre has seen and continues to experience high levels of occupier demand, investment and development. The Southside Shopping Centre continues to flourish following substantial ongoing refurbishment and redevelopment benefitting from top retail brands such as, KIKO, Milano, Boots, Debenhams and is home to a large Virgin Active. Adjacent to Jessica House is The Filaments, a recent major mixed use development by Mount Anvil and The Lightbulb (taken back as part of the same scheme by Workspace Group plc) comprising c50,000 sq ft of new build offices, and both schemes are fully let. The redevelopment of the Ram Brewery (on the north side of the High Street) continues at a fast pace which will transform the Town Centre and introduce a whole new urban area of residential and commercial with up to 95,000 sq ft of bars, cafe and retail units. In line with many other local areas, office availability in Wandsworth is currently an all time low with good levels of occupier demand, which has led to prime rents in the vicinity exceeding 40 psf pa exclusive. VAT Value Added Tax will be applicable on the sale of this property. 11
PROPOSAL We are instructed to seek offers in excess of 21M subject to contract and exclusive of VAT for our client s freehold interest. A purchase at this level will show capital value of 500 psf (NIA), after allowance for unadjusted purchaser s costs of 6.8%. FURTHER INFORMATION For further information please contact: Steven Lewis stevenlewis@lewisandpartners.com Ben Lewis benlewis@lewisandpartners.com Stephen Gevertz stephengevertz@lewisandpartners.com Andrew Cordery andrew.cordery@houstonlawrence.co.uk Tel: 0207 801 9021 Chris Jago chris.jago@houstonlawrence.co.uk Tel: 0207 801 9023 15/19 Cavendish Place, London W1G 0QE Tel: 0207 580 4333 www. lewisandpartners.com 10 Enterprise Way, Wandsworth London, SW18 1FZ www.houstonlawrence.co.uk SUBJECT TO CONTRACT AND EXCLUSIVE OF VAT LEWIS & PARTNERS LLP AND HOUSTON LAWRENCE FOR THEMSELVES AND FOR THE VENDORS OF THIS PROPERTY WHOSE AGENT THEY ARE GIVE NOTICE THAT:- 1. These particulars do not constitute any part of the offer for sale or contract for sale. 2. All statements contained in these particulars as to this property are made without responsibility on the part of Lewis & Partners LLP and Houston Lawrence or the vendors or lessors. 3. None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. 4. Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 5. Any plans or photographs or drawings shown in these particulars are to enable prospective purchasers or tenants to locate the property. The plans are photographically reproduced and therefore not to scale except where expressly stated. The plans, photographs or drawings are for identification purposes only. 6. No warranty or undertaking is given in respect of the repair or condition of the properties or any items expressed to be included in the sale. 7. Any properties or drawings of the relevant property or part thereof or the neighbouring areas may not depict the property or the neighbouring areas at the date a prospective purchaser or tenant inspects the property. Prospective purchasers are strongly advised to inspect the property and neighbouring areas. 8. Lewis & Partners LLP and Houston Lawrence have not measured the property and have relied upon clients information. Therefore Lewis & Partners LLP and Houston Lawrence give no warranty as to their correctness or otherwise and the purchasers must rely on their own measurements. 9. All terms quoted are exclusive of value added tax unless otherwise stated. 10. The vendors do not make nor do Lewis & Partners LLP and Houston Lawrence any person(s) in their employment give any warranty whatsoever in relation to this property. 11. These details are believed to be correct at the time of compilation but may be subject to subsequent amendment. 12. These details were prepared as of OCTOBER 2017 Adrian Gates Photography & Design 07710 316 991 12