WANDSWORTH RIVERSIDE, SW18 OUTSTANDING RIVERSIDE RESIDENTIAL DEVELOPMENT OPPORTUNITY
SUMMARY AN OUTSTANDING RIVERSIDE RESIDENTIAL DEVELOPMENT OPPORTUNITY IN THE HEART OF THE WANDLE DELTA A UNIQUE OPPORTUNITY TO PURCHASE ONE OF THE FINAL DEVELOPMENT SITES IN THIS EXCLUSIVE ENCLAVE OF RIVERSIDE REGENERATION - 1.02 acre (0.41 hectare) freehold site - Situated in an idyllic enclave of recently completed development between the River Thames, the River Wandle and Wandsworth Park - Wandsworth Town Station is just over 5 minutes on foot - Existing offices and warehouses extending to 40,722 sq ft GIA - Allocated for residential-led mixed-use development - Currently let to 8 tenants, generating 291,375 pa - Vacant possession deliverable in June 2017, providing ample time to secure detailed planning permission - Offers are invited for the freehold and long leasehold interests, subject to the existing tenancies
LOCATION VICTORIA WORKS, 9, 11 AND 19 OSIERS ROAD, SW18. Victoria Works is located to the north of Wandsworth Town in the Wandle Delta, close to the point at which the River Wandle meets the River Thames. Once an area of industrial significance, the area has made way for wholescale redevelopment to produce high quality residential accommodation in an extremely popular location. Victoria Works provides the final sizeable opportunity to develop within this tranquil riverside location. The site is perfectly located to enjoy all that the local area has to provide and residential amenities are abundant within close proximity. The Thames Path offers riverside walks and idyllic cycling opportunities whilst Southside shopping centre, cinema and restaurant complex is situated just 7 minutes walk from the site. Wandsworth Park lies just 200m to the west and King George s Park within 600m to the south, together providing over 80 acres of recreational open space. Wandsworth is seeing an emergence of boutique shops, restaurants and bars and with the ongoing redevelopment of the Ram Brewery, the first phase of which is due to complete in Autumn 2017, the area is about to change beyond recognition.
LOCATION RIVER THAMES A304 FULHAM PARSONS GREEN A308 IMPERIAL WHARF RIVER WALK A3220 BATTERSEA YORK ROAD A3205 BATTERSEA PARK ROAD A205 PUTNEY PUTNEY BRIDGE A3209 PUTNEY BRIDGE WANDSWORTH PARK VICTORIA WORKS RIVER WANDLE WANDSWORTH BRIDGE WANDSWORTH TOWN CLAPHAM JUNCTION A3 EAST PUTNEY CL A219 A3 A218 TRINITY ROAD PUTNEY HEATH KING GEORGE S PARK
LOCATION WANDSWORTH TOWN
TRANSPORT MINS MINS WALKING TIME: WANDSWORTH TOWN TRAVEL TIMES FROM WANDSWORTH TOWN: 3 CLAPHAM JUNCTION OVERGROUND 7 mins 11 mins 9 VICTORIA Victoria EAST PUTNEY TRAVEL TIMES FROM WANDSWORTH RIVERSIDE QUARTER PIER: 14 RICHMOND OVERGROUND 16 WATERLOO Bakerloo Jubilee Northern Waterloo & City Victoria Works is situated in a wellconnected locality with Wandsworth Town mainline station and East Putney Underground Station both a short walk from the site. Wandsworth mainline station is serviced regularly by trains direct to Central London, reaching Clapham Junction in 3 minutes, and Waterloo in 16 minutes. East Putney provides regular Line services to Edgware Road and Upminster, as well as the rest of the London Underground network. Thames Clipper services provide a refreshing alternative commute, with Wandsworth Riverside Pier just 60 seconds from the site, reaching Embankment in 32 minutes and Blackfriars in 37 minutes. MINS 10 CHELSEA HARBOUR 25 ST GEORGE WHARF TRAVEL TIMES FROM EAST PUTNEY: 32 EMBANKMENT 37 BLACKFRAIRS A wide network of bus routes also service the roads close to the site, providing access to Greater London (Richmond, Putney, Balham and Wimbledon) as well as Central London (Clapham Junction, Battersea and Victoria). 14 EARL S COURT Piccadilly 20 HIGH ST KENSINGTON Circle 21 SLOANE SQUARE Circle 22 NOTTING HILL GATE Central Circle 26 PADDINGTON Bakerloo Circle Hammersmith & City 27 VICTORIA Victoria Circle Vehicular access is provided by Osiers Road which feeds into Putney Bridge Road and the local road network, connecting Wandsworth to Fulham via Putney Bridge and Chelsea via Wandsworth Bridge. The A3 major arterial road just 400m south of the site heads eastward into Central London, and westwards to the M25, providing access to the wider national motorway network.
1 9 4 VICTORIA WORKS DESCRIPTION 6.7m 1 to 30 23 1 to 33 Avon House 5 1 to 83 Witham House 13 ENTER 6 19 El Sub Sta OSIERS ROAD 1 to 62 Clyde House Wye House 5.8m 11 G 5.7m SITUATION The site extends to 1.02 acres (0.41 hectares) and forms a reverse `L shape within an island of land bounded by Osiers Road to the north, east and south. To the west, the site abuts the Radius development by Taylor Wimpey, due to complete in Q4 2015. EXISTING BUILDINGS The current accommodation comprises B1 offices, B2 light industrial and B8 storage/distribution, in all extending to 40,722 sq ft GIA. The existing buildings, of one and two storeys, are predominantly brick built with both flat and pitched roof elements. Vehicular access is provided to Osiers Road to the north, east and south west corner of the site.
TENANCIES TENANCIES TENANT ADDRESS ACCOMMODATION GIA (sq.ft) Total GIA (sq.ft) LEASE EXPIRY (BREAK) INSIDE L&T 1954 Act INCOME - The existing accommodation is let to eight separate tenants, generating an annual income of 291,375 pa. - Vacant possession can be obtained in June 2017, providing an ideal window to secure detailed planning consent. A Fitness Model Limited Bernard Thorp & Co Limited Linton Fuel Oils Limited Lindsey Balkwill 9 Osiers Road, SW18 4NL 11 Osiers Road, SW18 1NL 11A Osiers Road, SW18 1NL 19 Osiers Road, SW18 4NL Units 1 and 2 Building 2 1st Floor Part Unit 1 Building 1 Gr Floor Unit 1 Building 2 Gr Floor Unit 1 Building 1 1st Floor (part) Mezzanine Part 1 Unit 1 Building 1 Gr Floor Unit 1 Building 6 Part Gr Floor Unit 1 Building 6 1st Floor 9,717 1,145 3,444 6,091 1,904 4,333 236 689 10,862 9,535 Aug- 20 (Jun-17) June 17 6,237 Mar 16* Mar 16* No Yes 925 Jun 17 No 54,500 73,300 Yes 47,000 6,180 - All leases and associated documents are available to download from the data room. Vacant 19 Osiers Road, SW18 4NL Unit 1 Building 6 Part Gr Floor 450 450 - - Angelito Sarmiento (T/A Pit Stop and Tops Tyres) Bassline Productions Limited Jamb Limited London Power Networks PLC 19 Osiers Road, SW18 4NL Unit 1 Building 5 Gr Floor 2,952 2,952 19 Osiers Road, SW18 4NL Unit 2 Building 5 Gr Floor 1,178 1,178 19 Osiers Road, SW18 4NL Unit 1 Building 3 Gr Floor Unit 3 Building 3 Gr Floor 3,267 5,316 3,267 5,316 Nov 19 (Jun 17) Nov 19 (Jun 17) Jun 17 May 17 11 Osiers Road, SW18 1NL Sub station Dec 28 Yes - No No Yes No 23,456 12,999 28,240 45,700 TOTALS 40,722 291,375 * Deed of surrender effective 31.03.2016 * * Powder White Limited have signed a five year lease on Unit 1, Building 1, part ground, 1st floor and mezzanine commencing 01.04.2016 with a mutual break in June 2017. This will produce an additional annual rent of 24,500 pa The above areas are approximate and have not been verified. A plan indicating each tenant s location is included within the data room.
PLANNING PLANNING The London Borough of Wandsworth s Site Specific Allocations Document (SSAD) allocates the site for mixed use development including residential, replacement employment floorspace and improved links with the town centre. Core Strategy Policy PL9 encourages a wider mix of uses at focal points of activity along the riverside including restaurants, cafes, bars and small-scale retail. It is therefore envisaged these uses will form the replacement employment floorspace at ground floor, as is currently being delivered in the adjoining development to the west. The SSAD specifically references the provision of new connections through the site as set out in the Area Spatial Strategy, interlinking with the adjacent development to the west. These new connections, together with the existing frontages to Osiers Road should be defined by active frontages. The Spatial Strategy therefore largely dictates the block layout of the redeveloped site. In terms of height, the SSAD states the site is sensitive to tall buildings, and the height at which development in this location will be considered tall is 9 storeys. The adjoining development to the west, which also has the same designation in terms of height within the SSAD, extends to 8 storeys plus basement. The recently completed blocks directly to the east of the site, which also have the same designation in terms of height within the SSAD, extend to nine storeys plus basement along Osiers Road. In addition, the car park immediately to the south of the site has recently been granted planning permission for 10 storeys above ground. DEVELOPMENT CONTEXT The immediate area has seen wholescale residential-led redevelopment in recent years. The catalyst for change was Riverside Quarter by Frasers Property, comprising 504 units and ground floor commercial. The final phase is currently under construction with the latest block expected to complete in Q4 2016. Victoria Works neighbours the Taylor Wimpey Radius development to the west which will deliver 152 residential dwellings of which 114 are private tenure. The scheme is expected to complete in Q4 2015 and 97% sold out at the date of publishing. To the east of Osiers Road is Barratt London s Osiers development which was completed in Q4 2013 and comprises 275 residential units and ground floor commercial including Sainsbury s Local.
PLANNING
FURTHER INFO TITLE VENDOR DATA ROOM OFFERS The Freehold and Long Leasehold interests are held under Titles TGL123919 and SGL29358. VAT The Freehold interest is not elected for VAT. The Long Leasehold interest is elected for VAT and it is envisaged it will be sold as a Transfer of Going Concern (TOGC). The interests are owned and managed separately by i) Russell-Cooke Trust Company (Freehold) ii) Trident Holdings Investments Limited (Long Leasehold) Further technical, legal and planning information is available to download from the data room at Interested parties must register their interest on the data room to ensure they receive updates throughout the marketing period, including document amends and the bid pro-forma. Offers are to be invited on an informal tender basis on a subject-to-planning and/or unconditional basis.
CONTACT DISCLAIMER RICHARD PLANT 020 8662 2718 RICHARD PILLOW 020 8662 2720 ALEXI BORG 020 8662 2745 PETER DAY 020 7399 5263 SONNY DAWES 020 7087 5679 JACK BEARD 020 7087 5714 JLL and SHW for themselves and for the vendors or lessors of this property whose agents they are, give notice that:-a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract; b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise; c. no person in the employment of JLL or SHW has any authority to make or give any representation or warranty whatever in relation to the property; d. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken. 2015 Jones Lang LaSalle IP, Inc and Stiles Harold Williams Partnership LLP Designed by i-brochure