0 CANARY WHARF PRMITTD DVLOPMT OPPORTUNITY Selsdon Way London 4 9GL
02
OPPORTUNITY SUMMARY Long leasehold interest and share of freehold title xisting office building totalling 5,740 sq ft GIA and 2,02 sq ft NIA together with car parking spaces 40m from DLR Crossharbour station with a journey time to Bond Street of 2 minutes via Crossrail Prior approval for change of use to C3 residential granted April 207 Opportunity to deliver 35 residential units via: - Permitted Development Rights for 3 apartments - Consent for 3 additional units via extension of existing building - Plus, one further unit within amended permitted development scheme Significant future potential for wider comprehensive redevelopment via land assembly with adjoining ownerships xisting building income producing with a current passing rent of 232,95 per annum Vacant possession of all floors from June 208 Unconditional Offers invited in excess of.00m Opportunity to acquire a consented residential conversion scheme in Canary Wharf with significant future potential for a wider comprehensive redevelopment 03
A2 2 A R LA CROSSING W AY 20 A ROA D WSTFRR Y RO AS P N WA Y A 2 BLACKWALL PRS TON CANARY WHARF HRON QUAYS RIVR TH RO SALTR S R O A20 CANARY WHARF MA RSH AM S W. INDIA QUAY STFRRY RO A20 W The site is located 0.7 miles (.km) from Canary Wharf. With a current working population of over 2,000, 37 office buildings, hotels and over 300 shops, cafés, bars and restaurants in five malls the area is a world-class centre for commerce, retail and leisure. WA LL NORTH GRWICH MARSH UR LIMHARBO 0 NDA STB O A2 RO RRY D. F YR RR OA 0 A 2 MUDCHUT INDRIFT AVU SP TF S W A TH R RIV Adjacent to the site, 3, 5 and 7 Selsdon Way was granted prior approval for change of use from B Office to provide 5 residential units. The major redevelopment of the ASDA site within 50m of Selsdon Way will dramatically enhance the local setting and improve the social amenities of the direct area as well as creating c. 850 residential dwellings. L S TR T. FRRY RO CROSSHARBOUR RO R ST H NC MA Nearby developments include Dockside by Bellway situated just 00m north west of the site at Turnberry Quay providing 89 residential apartments over 3 storeys. Immediately 300m north of the site is the landmark Arena Tower within Baltimore Wharf, a large scheme by Galliard Homes providing a total of,00 dwellings. WALL MANCHSTR RO A20 WSTFRRY RO A20 The property is part of the Crossharbour estate, a low rise brick clad office development in Millwall Dock. Immediately to the east of the site is the low density City Harbour residential development of similar height and construction. The scheme provides an intimate community feel, a moments walk from City Harbour s waters and Dockland views, local shopping facilities, private City Harbour Club facilities and private off street parking. Green space at Mudchute Park and Farm is a short distance south east of the property. CK T R ST AWAY C L IM T POPLAR HIGH STR T AST INDIA A STR DO LOW N COTTO WSTFRRY A3. INDIA RO DI. IN W Location NAR ROW. INDIA R A3 AS P S M ISLAND GARDS R MANCHST R OA D 0 A 2 V N LY R ST T 04 A2 0 R GA FAL TRA 0 RO A20
Transport Infrastructure Crossharbour DLR station is located 40m away. The DLR rail network connects Canary Wharf and Central London via the City (Bank) and extends to the regeneration growth hubs of Lewisham, Stratford with the Queen lizabeth Olympic Park and the entirety of the Docklands, including London City Airport which has direct flights to New York, Paris and Amsterdam. Canary Wharf is forecast to benefit strongly from its new Crossrail station opening 208. Crossharbour is serviced by the D3, D and D8 bus routes, connecting with Whitechapel, Mile nd and Stratford respectively. The major A3 arterial road is accessible within c..5 miles which extends eastwards into the City, and eastwards to the A40 ring road then further to the M25 motorway and the UK wide motorway networks. Canary Wharf is a top ten beneficiary from the increased access to Heathrow and the West nd, enhancing Selsdon way s desirability as a residential location OVRALL CROSSRAIL IMPACT SCOR TRAVL TIMS FROM CROSSHARBOUR DLR STATION OXFORD CIRCUS 27 mins WATRLOO 2 mins LONDON BRIDG 8 mins BANK 5 mins LIVRPOOL STRT 4 mins CANARY WHARF 8 mins GRWICH mins STRATFORD mins LONDON CITY AIRPORT 23 mins 0 9 8 7 5 4 3 2 Travel times according to TFL HATHROW CTRAL 39 mins CROSSHARBOUR Whitechapel Woolwich aling Broadway West Drayton Acton West aling Tottenham Court Road Canary Wharf Maidenhead Slough 05
xisting Building Deben House is a modern office building (B use class) situated to the east side of Selsdon Way. The site currently comprises a four storey building constructed in 992. The property is of masonry construction with a glazed portion to the upper floors, providing 2,02 sq. ft. NIA of office accommodation. The property is let on 4 commercial leases (all contracted outside the 954 L&T Act). Vacant Possession can be achieved on the whole site in June 208. Access to the property is provided along Selsdon Way via ast Ferry Road. The property has a car parking allocation of spaces within the adjacent NCP multi-storey car park. Multistorey Car Park Deben House 3 5 SLSDON WAY 2 Posts Merchant House 4 Northern & Shell Tower 0
Residential Development Context 3, 5 and 7 Selsdon Way - Planning approval for change of use from B Offices to C3 Residential with 5 residential units 2 Boatmans House - Planning approval for change of use from B Offices to C3 Residential with 3 residential units 3 Dockside - Bellway scheme with 89 residential units, Launched April 20. 4 5 7 ASDA Crossharbour - Consented full planning for a new supermarket and 83 residential units. Outline planning permission for 850 residential units (592 private) over 23 storeys Baltimore Wharf -,00 residential units, 8 private, sold out in Q2 204 Arena Tower - Landmark development at Baltimore Wharf by Galliard Homes providing 344 residential units. Sold-out in Q2 204 with limited resales available. The Liberty Building - Development at 7 Limeharbour comprising 05 private units 0 2 3 5 9 7 8 8 9 The Madison - 423 residential units, 39 private, launched Q3 205 Millharbour Village - Multiple towers up to 45 storeys. Consented planning for 500 residential units (,75 private). 45 Millharbour comprising 94 units due to complete Q4 207 4 0 Westferry Printworks - Consented planning for 4 private residential units over 29 storeys 07
Planning & Development Opportunity PRMITTD DVLOPMT RIGHTS Prior approval was permitted for the change of use from B offices to C3 residential accommodation in April 207 under application PA/7/0030 for 3 units. A separate application was approved under application number PA/7/02037/A for the extension of the property at third and fourth floors to create 3 residential units, an ancillary plant enclosure and alterations to the external façade. A subsequent letter has been submitted to LB Tower Hamlets to combine the two applications and regularise an additional amendment to provide a total of 35 units. The amendment has been agreed in principle. ACCOMMODATION SCHDUL Floor No. of Units Studio Bed 2 Bed Total NSA Sq Ft Ground 7 7 - - 2,770 st 9 8-2,835 2nd 9 8-2,795 3rd 7 4 3-2,40 4th 3 2 -,439 TOTAL 35 29 5 2,249 08
Further Development Potential The property immediately abuts a multi-storey NCP car park with a total of 500 car parking spaces. The car park is under utilised and offers a significant opportunity for further development via site assembly. The properties on Selsdon Way offer a unique development opportunity. A comprehensive land assembly of, 3, 5 & 7 Selsdon Way and the NCP Car Park opens the possibility for a large scale residential-led redevelopment. Deben House presents an ideal opportunity to deliver a wholly residential conversion scheme with scope for a wider comprehensive redevelopment via land assembly INDICATIV GROUND FLOOR PLAN INDICATIV UPPR FLOOR PLAN 09
Title Deben House is held on a Long-leasehold interest of 99 years from The Brunel Centre Limited with the option to extend to 999 years for a nominal fee. Freehold City Harbour Management Company Limited Title includes 8.5% share of freehold title. Vacant possession from June 208 Vendors Interest Headlease 99 years from 30 May 98 - extendable up to 999 years from the company at no cost save for the legal fees incurred Owns 8.5% shares in City Harbour Management Company Limited Underlease 99 years from 30 May 98 (less 0 days) Occupational Leases Full Vacant Possession available from June 208 Ground Floor Let to Inviron Limited. Term of 0 years expiring th March 208. Outside 954 act. First Floor Let to Inviron Limited. Term of 0 years expiring th March 208. Outside 954 act. Second Floor Let to Adgistics Limited. Term of 5 years expiring 7th June 2020. LL Break Option 7th June 208. Outside 954 act. Third Floor Let to Financial Information Technology. Term of year expiring 24th December 207. Outside 954 act. 0
Further Information VACANT POSSSSION Vacant possession of each floor is available at the following dates: Ground - March 208 st Floor - March 208 2nd Floor - June 208 3rd Floor - December 207 VAT The property is elected for VAT DATA ROOM Additional technical, legal, and planning information is available on the dataroom at www.deben-house.live.jll.com OFFRS Unconditional offers are invited on an informal tender basis for the vendors combined interests. Registered parties will be notified of the bid deadline in due course. VIWINGS All inspections of the properties are strictly to be prior appointment only. Please contact JLL and Savills to arrange an appointment.: Sonny Dawes d De Jonge JLL Residential Savills +44(0)207 087 579 +44(0)207 0 3849 sonny.dawes@eu.jll.com edejonge@savills.com Dan Smith Alex Soskin JLL Residential Savills +44(0)207 852 4285 +44(0)207 409 9993 dan.smith@eu.jll.com alex.soskin@savills.com Disclaimer JLL and Savills and 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 and Savills 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. 207 Jones Lang LaSalle IP, Inc and Savills plc