Savills London Residential Development Development Land Transactional Activity 2017 savills.co.uk/londonland
In 2017 Savills London Residential Development Land Team transacted on sites totalling more than 1 billion in land value, equalling the performance of 2016. Despite the uncertainty created by the turbulent political environment and ongoing Brexit negotiations, the development market has shown remarkable resilience. London has remained a key location for overseas investors and developers who see value and opportunity in the land market. We enter 2018 with strong demand for development opportunities across London from a variety of investors and new entrants to the market. Please feel free to contact any member of the team if you would like to discuss a potential disposal or acquisition with us. Contact details for the team are listed at the end of this publication. Tim Whitmey Director +44 (0) 20 7409 9999 twhitmey@savills.com Darren Arnold Director +44 (0) 20 7409 9926 darnold@savills.com
Stone Studios, Hackney Wick E9 Disposal of a 1.06 acre site comprising four separate existing buildings. Planning permission had been granted for the demolition of most existing buildings and redevelopment to provide a mixed use development comprising 5,365 sq m (57,748 sq ft) GEA of commercial floorspace and 120 residential units. Apr-17 Housebuilder Purchase Price: 25,750,000
12-20 Dock Street, Aldgate E1 Sale of a largely cleared 0.25 acre site with permission for a scheme comprising 89 private residential units and commercial space at ground and lower ground floors. Jan-17 Contractor Developer Sale Price: 21,500,000 New Malden House, New Malden KT3 Long leasehold sale of an existing B1 office building with planning permission for 93 apartments with a total NSA of 7,069 sq m (76,086 sq ft). Feb-17 Sale Price: 15,450,000 317a & 400 Hoe Street, Walthamstow, E17 Two freehold sites - 0.14 and 0.4 acres in size which benefited from a linked planning permission for two schemes comprising 54 apartments totalling 4,788 sq m (51,538 sq ft) and 375 sq m (4,036 sq ft) flexible commercial space. Feb-17 Private Landowner Housing Association Sale Price: 6,200,000
Stratford Shopping Centre, Newham E15 Long leasehold interest sale of a 28,462 sq m (306,360 sq ft) shopping centre located on a 10.24 acre site. The site had planning permission for an additional 587 residential units. Feb-17 Sale Price: Excess 140,000,000 Imperial House, Rayners Lane HA2 1.75 acre site comprising an existing office building 9,561 sq m (102,913 sq ft) GIA in size. The property had prior approval for conversion of the existing building to 203 private residential apartments. Feb-17 Developer Contractor Sale Price: 26,000,000
Highbury Delivery Office, Hamilton Park N5 0.37 acre site with potential for redevelopment which is in use as a Royal Mail delivery office. Mar-17 Royal Mail Private Office Sale Price: 3,650,000 Cantium Retail Park, Old Kent Road SE1 4.69 acre retail park with redevelopment potential. Savills were instructed to source a Joint Venture partner for residential-led mixed use redevelopment. Sale Price: Mar-17 Institution Galliard JV Confidential 4-5 Buckingham Gate SW1 A Grade II listed office building comprising 2,404 sq m (25,881 sq ft) which has a lease expiring in 2020. The site had planning permission for 11 apartments. Dec-17 Private Individual Overseas Investor Sale Price: 32,000,000
Kew Biothane, Kew TW9 Thames Water site of 1.76 acres with potential for residential redevelopment. Dec-17 Utility Company Care Home Provider Sale Price: 13,000,000 Recorder House, 539 High Road, Ilford IG11 Unconditional sale of a 0.84 acre site with an existing vacant publishing building and ancillary offices. Fresh Wharf, Barking IG11 11 acre industrial site with planning for over 900 residential units. Mar-17 Private Company Housebuilder Sale Price: 32,000,000 Apr-17 Private Company Private Individual Sale Price: 8,050,000
Bodgers Department Store, Ilford IG11 Existing retail department store and an adjoining property with retail on ground and commercial above with potential for redevelopment. Sale Price: Acquired Apr-17 Private Company Private Individual Confidential 1-3 Little Chester Street & 19 Chester Mews SW1 Planning permission for a new build residential scheme comprising 5 units and underground car parking. NSA 1,020 sq m (10,979 sq ft). GIA 1,614 Sq m (17,367 sq f). Aug-17 Private Investor Sale Price: 15,300,000 2 Salisbury Road, High Barnet EN5 A 0.15 acre site with an existing building extending to 198 sq m (2,130 sq ft). The site was sold without the benefit of a planning consent. Apr-17 Pension Fund Purchase Price: 1,100,000 High Road, Whetstone N20 Property with prior approval for conversion of the existing office building to provide 75 private apartments extending to 2,648 sq m (28,508 sq ft). The site additionally had a pending prior approval application for conversion, with a further 9 private units to provide 75 units with larger NSA 3,426 sq m (36,881 sq ft). May-17 Private Investor Purchase Price: 10,500,000
39 Fitzjohn s Avenue, Hampstead NW3 A part freehold, part leasehold site extending to 1.72 acres with a c. 2,044 sq m (22,000 sq ft) sq ft residential property and extensive gardens with potential for development. May-17 Private Individual Overseas Investor Sale Price: 20,000,000 193 Ballards Lane, Finchley N3 A former police station 1,165 sq m (12,540 sq ft) in size. The site had a planning application refused in 2016. May-17 Sale Price: 6,200,000 257-259 The Vale, Acton W3 Disposal of a part cleared site with planning consent to provide 11 residential units with a NSA of 824 sq m (8,871 sq ft). Jun-17 Investor Sale Price: 2,850,000
Fortescue Road, Colliers Wood SW19 Former Thames Water site with planning permission for a 74 unit residential scheme with a NSA of 4,844 sq m (52,135 sq ft). Jun-17 Registered Provider Sale Price: 11,050,000 22-24 Broadlands Road & 13 Denewood Road, Highgate N6 0.91 acre site which was split into four separate lots with separate planning consents to provide 7 houses in total. Jul-17 Charity Purchase Price: 13,500,000 16 The Vale, Acton W3 Existing B8 building of 3,171 sq m (34,132 sq ft) which had consent for a 39 unit apartment scheme 1,066 sq m (11,475 sq ft) NIA of commercial space. Jun-17 Developer Registered Provider Sale Price: 13,500,000 High Street, Feltham TW13 An existing office building of 2,483 sq m (26,727 sq ft) NIA which had a prior approval for conversion PD and separate planning consent to provide a total of 77 residential units with 91 sq m (975 sq ft) of retail at ground floor. Jul-17 Private Investor Private Investor Sale Price: 8,750,000
Hendon Reform Synagogue, Hendon NW4 Former synagogue of 1,707 sq m (18,377 sq ft) set across a site of 0.69 acres. The site was sold with the benefit of a formal pre-application response for a residential scheme. Jul-17 Charity Education Provider Sale Price: 6,350,000 Palmerston Road, Harrow HA3 Site assembly of 2 adjacent sites and subsequent disposal on an unconditional basis for a co-living scheme Jul-17 Private Sale Price: 5,800,000
New Road, Crouch End N8 Disposal of a 0.23 acre site with planning permission for the demolition of the existing buidlings and construction of 9 new residential homes and 446 sq m (4,801 sq ft) of B1a office space. to a developer who will hand the commercial element back at nil cost. Sept-17 Sale Price: 2,735,000 Royal Mail Depot, Loughton IG10 Brickworks, Slough SL2 Site with planning permission for 155 apartments providing 9,717 sq m (104,594 sq ft) NSA of residential accommodation over four to seven storeys. Jul-17 Sale Price: 10,500,000 Disposal of a 0.39 acre former Royal Mail sorting and delivery office. The site benefitted from pre-application discussions with the LPA for a 25 unit scheme with a NSA of 1,628 sq m (17,528 sq ft). Jul-17 Royal Mail Sale Price: 2,850,000
Royall Mail Delivery Office, 49 Marlborough Road, London E18 A 0.11 acre freehold development site comprising a two storey building with basement which was a Royal Mail delivery office. Dec-17 Royal Mail Pension Fund Sale Price: 1,450,000 Royal Mail, Mount Pleasant EC1 Acquisition of a 6.25 acre site with planning consent for 681 residential units, flexible retail and community space totalling 97,287 sq m (1,047,192 sq ft) GIA. Purchase Price: Acquired Aug-17 Institution Housebuilder Confidential Burlington Retail Park, New Malden KT3 Disposal of a 4 acre income producing retail warehouse site with potential to provide c. 400 residential units. Aug-17 UK Fund UK REIT Sale Price: 28,300,000
1, 3 & 5 Rainsford Street, Paddington W2 A terrace of three mews buildings which has planning consent for conversion and extension to three mews houses with a total NSA of 308 sq m (3,310 sq ft). Sep-17 Charity Private Individual Sale Price: 2,700,000 37 Hilldrop Lane, Tufnell Park N7 3 Great West Road, Chiswick W4 A 4 storey former office building with prior approval for change of use to provide 10 private residential apartments set over a 0.14 acre site. Sep-17 Sale Price: 3,350,000 Site with an existing two storey dwelling house with planning consent for demolition and construction of a three storey building comprising 9 private apartments with a NSA of 660 sq m (7,100 sq ft). Oct-17 Housebuilder Sale Price: 2,250,000
202 204 Selhurst Road, South Norwood SE25 A part residential / part HMO building with planning consent for 12 residential units comprising 693 sq m (7,465 sq ft) NSA. Oct-17 Private Individual Sale Price: 1,905,000 1-2 Majestic Way, Mitcham CR4 2.46 acre site containing a food store, anchored retail parade, sold unconditionally. St Margarets, Rectory Lane, Edgware HA8 Surplus Rectory building on a 0.85 acre site with potential for redevelopment for a residential led scheme. Oct-17 Charity Sale Price: 4,600,000 Oct-17 Private Company Property Fund Sale Price: 11,900,000
Our Coverage NORTH EAST WEST CENTRAL 21 Maresfield Gardens, Hampstead NW3 A 565 sq m (6,079 sq ft) existing building in D1 use set on a 0.14 acre site. on a sale and leaseback basis. SOUTH Dec-17 Charity Sale Price: 4,000,000
Key contacts Central North South Tim Whitmey Director +44 (0) 20 7409 9999 twhitmey@savills.com Darren Arnold Director +44 (0) 20 7409 9926 darnold@savills.com Andrew Cox Director +44 (0) 20 7016 3851 acox@savills.com Luke Hawkesbury Director +44 (0) 20 7409 9942 lhawkesbury@savills.com Sean Cooper Associate Director +44 (0) 20 7409 9948 scooper@savills.com Lucy Robbie Surveyor +44 (0) 20 7409 5988 lrobbie@savills.com Lizzie Parrott Associate Director +44 (0) 20 7409 9943 lparrott@savills.com North East Hugh Bushell Surveyor +44 (0) 20 7075 2860 hbushell@savills.com South West Andrew Cooper Associate Director +44 (0) 20 7016 3848 acooper@savills.com Administration James Donger Surveyor +44 (0) 207 016 3841 jdonger@savills.com East Ed de Jonge Director +44 (0) 20 7016 3849 edejonge@savills.com West Rob Pollock Director +44 (0) 20 7409 8114 rpollock@savills.com Helen Parish Personal Assistant +44 (0) 20 7409 9909 hparish@savills.com Alex Soskin Associate Director +44 (0) 20 7409 9993 alex.soskin@savills.com Harry Wentworth-Stanley Associate +44 (0) 20 7016 3873 hwstanley@savills.com Alice Tucker Team Secretary +44 (0) 20 7299 3021 aktucker@savills.com savills.co.uk/londonland