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PRIME LONDON DEVELOPMENT OPPORTUNITY
35A COMMERCIAL ROAD
LONDON E1
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Outline for identification purposes only.
THE SHARD
ALDGATE TOWER
(BARRATT)
ALDGATE PLACE (BARRATT)
GOODMAN’S FIELDS
(BERKLEY HOMES)WHITECHAPEL STATION
(CROSSRAIL) 500M
ALTITUDE(BARRATT)
ALDGATE STATION
ALDGATE EAST
STATION
THE GHERKIN
HERON TOWER
LIVERPOOL STREET STATION
EXECUTIVE SUMMARY• Prime city fringe location widely
considered one of London’s growth ‘Hotspots’
• Existing building comprises 36 flats (5 x studios & 31 x one beds) totalling approximately 1,236.78 sq m (13,313 sq ft) GIA
• Planning consent for change of use of part ground floor to retail (A1); alterations to existing 36 flats and creation of an additional 8 self-contained flats by 4 additional floors comprising a GIA of 4,443.5 sq m (47,830 sq ft).
• Pre-application for a full re-development to provide 74 residential units and 250 sq m (2,691 sq ft) of commercial space
• Alternative redevelopment potential for a number of uses to include residential, commercial or a mixed-use development subject to the necessary consents
• Within the Central Activities Zone and the Aldgate Masterplan
• Located within the London Borough of Tower Hamlets benefitting from Aldgate East Underground station and Whitechapel Crossrail station (Opening December 2018)
• Vacant possession available on completion
35A
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LOCATIONThe property is located on the northern side of Commercial Road, immediately to the west of its junction with Adler Street with direct frontage to both streets. Aldgate is a popular residential area of East London located a short distance from the City and Shoreditch.
The area currently has a mix of commercial and residential uses in close proximity to the City, the financial heart of London and home to an estimated working population of over 350,000. Commercial Road is widely considered one of London’s growth ‘Hotspots’ and has seen an abundance of regeneration and re-development.
The immediate locality continues to be transformed into a vibrant hub through proposed and existing mixed-use developments surrounding the property, with retailers and restaurateurs benefitting from both the active working population and the residential occupiers providing evening and weekend trade.
Developers including Berkeley, Barratt, Redrow, Telford, London Square, London Newcastle, London and Quadrant all have schemes within the vicinity bringing new residential, commercial occupiers and a new wave of retail and restaurant operators. Increased demand from media and creative businesses has also led to significant commercial investment from investors including British Land, Hermes and Helical Bar.
ONE OF LONDON’S GROWTH ‘HOTSPOTS’
WHITECHAPEL RD
MILE END ROAD
THE HIGHWAY
COMMERCIAL ROAD A13
TOW
ER B
RID
GE
LONDON WALL
CHISWELL ST
BRICK LA
NE
LON
DO
N B
RID
GE
BISH
OPS
GAT
E
NEW
ROAD
CANN
ON
ST RD
VALLAN
CE RD
CABLE STREET
COMM
ERCIAL STREET
GRA
CEC
HURC
H ST
LOWER T H AMES ST
LEMAN
STFE NCHURCH STREET
Whitechapel
Shadwell
Moorgate
Bank
London Bridge
CannonStreet
Liverpool Street
Aldgate
Tower Hill
Tower GatewayMonument
Aldgate East
Fenchurch Street
CITY OFLONDONCITY OF
LONDON
SPITALFIELDS
WAPPING
SHADWELL
STEPNEY
ShadwellBasinTower of
London
The Royal London Hospital
TheGherkinBank of England
LeadenhallMarket
SouthwarkCathedral
SpitalfieldsMarket
LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS35A
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CONNECTIVITYThe area is well served by public transport with Aldgate East underground (District & Hammersmith and City lines) at the end of Commercial Road and numerous other stations within walking distance.
There are also regular bus services along Commercial Road (A13), Whitechapel Road (A11) and Commercial Street (A1202) providing easy access to both the City and the West End.
CROSSRAILWhitechapel Crossrail station is due to provide access to the new Elizabeth Line in December 2018, thereby significantly increasing the transport offering within the immediate area.
Crossrail is Europe’s largest infrastructure project providing new high frequency, high capacity trains connecting Reading and Heathrow in the West to Stratford and Canary Wharf and beyond in the east. Crossrail will provide an estimated 24 trains per hour providing access to 40 stations, including;
LIVERPOOL STREET... 2 mins BOND STREET... 10 mins
CANARY WHARF... 3 mins HEATHROW... 38 mins
FARRINGDON... 5 mins READING... 63 mins
EUSTON SQUARE 31 mins
PADDINGTON 24 mins
BARBICAN 7 mins
BAKER STREET 21 mins
MOORGATE 5 mins
KINGS CROSS ST PANCRAS 13 mins
LIVERPOOL STREET 3 mins
FARRINGDON 10 mins
WAPPING 2 mins
CANADA WATER 5 mins
ST JAMES’S PARK 14 mins
EARLS COURT 29 mins
EMBANKMENT 11 mins
VICTORIA 19 mins
CANNON STREET 4 mins
WESTMINSTER 16 mins
ROTHERHITHE 4 mins
MONUMENT 3 mins
BLACKFRIARS 10 mins
ALDGATE 0.5 miles
SHADWELL 0.5 miles
ALDGATE EAST
0.2 miles
STRATFORD 2 mins
ROMFORD 24 mins
READING 63 mins
BOND STREET 10 mins
WHITECHAPEL 0.4 miles
(Opening 2018)
35A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS
Source: Crossrail
Source: Google maps
Source: TfL
Aldgate East (2 mins)
Aldgate (3 mins)
Whitechapel (10 mins)
Tower Hill (9 mins)
Shoreditch High Street (10 mins)
Fenchurch Street (7 mins)
Bank (8 mins)
Liverpool Street (9 mins)
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EXISTING RESIDENTIAL BUILDING COMPRISING 36 FLATS
Site outline for identification purposes only.
Existing ground floor plan.
© Crown Copyright, ES 100004106. For identification purposes only.
DESCRIPTIONThe existing building currently comprises a five storey above basement residential block of 36 flats (5 x studios & 31 x one beds) with a GIA of approximately 1,236.78 sq m (13,313 sq ft). The site benefits from vehicular access from Adler Street which provides access into a small rear courtyard used for parking and storage.
The building benefits from 36 residents parking permits with LBTH.
The site area is approximately 0.123 acres (0.050 hectares).
N
35A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS
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A summary of the key general planning considerations are outlined below:
• The building is not statutorily or locally Listed
• The building benefits from an English Heritage decision to refuse Listed building status
• It is not situated within a Conservation Area
• The site falls within the Central Activities Zone (CAZ) defined within the London Plan
• The Aldgate Masterplan identifies the area as a suitable location for tall buildings
• Located in the City Fringe Opportunity area defined within the London Plan
Existing building. Approved Development - Please note this image is only indicative.
PLANNINGThe building is located within the London Borough of Tower Hamlets. The wider surrounding environment comprises a mix of uses including commercial, retail, education and residential with building heights up to 27 storeys.
The Council’s Aldgate Masterplan identifies the area as suitable location for tall buildings to mark the gateway to Tower Hamlets. The Masterplan also promotes a cluster of towers in the area. The site is identified within the Master Plan as a focal point, earmarked as a place for a design focus where landmark buildings will help a create a sense of place.
CONSENTED SCHEME
In January 2011 planning permission was granted for:
‘Change of use of part ground floor to retail (Class A1); creation of an additional 4 floors & rear extension; alterations to Commercial Road & Adler Street facades; Alterations to existing 36 flats and creation of an additional 8 self-contained flats’. (Ref: PA/10/00676)
The conditions of the planning consent required implementation by January 2014. The permission has been implemented with extensive party wall underpinning works and therefore remains extant. Evidence of the implemented works is available in the data room.
PLANNING CONSENT FOR FOUR ADDITIONAL STOREYS
35A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS
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EXCELLENT REDEVELOPMENT OPPORTUNITY FOR A VARIETY OF USES
REDEVELOPMENT POTENTIALThe property presents an excellent redevelopment opportunity to increase the bulk and massing on-site and deliver a variety of uses including residential. The vendor has carried out extensive work to prepare the site for redevelopment and Stockwool Architects have designed a scheme which provides 74 flats over 18 storeys with commercial space at ground and lower ground floor level.
The current proposal comprises 4,416 sq m (47,533 sq ft) NIA of residential accommodation (14 x studios, 26 x one beds, 29 x two beds, 5 x three beds) and 250 sq m (2,691 sq ft) GIA of commercial accommodation at ground and lower ground floor.
The Stockwool proposal demonstrates that the site has the potential to increase the bulk and massing on site to provide a tall building of approximately 5,912 sq m (63,632 sq ft) GIA. This provides an ideal opportunity to extensively re-develop the site for residential, commercial or mixed-use purposes.
The Stockwool proposal has been submitted to the Council and the GLA to assess its suitability for increasing the massing through a comprehensive re-development.
The GLA response to the pre-app is available to download from the data room and states that the principle of a residential-led mixed use redevelopment would contribute to the objectives of the London Plan. The pre-application meetings with the London Borough of Tower Hamlets did not yield a formal response but suggested a high quality design would be needed to justify the loss of the existing building.
LOCAL DEVELOPMENTS
The site is located on the eastern corner of a terrace between White Church Lane and Adler Street which also comprises 29 – 31 Commercial Road and 35 Commercial Road. The former recently gained consent for an 18 storey residential tower, while the latter was developed in 2013 to provide a 19 storey student tower and 40,000 sq ft University building, both of which set the precedent for a tall building on the subject site.
There is development potential for one or more of the following uses:
• Residential
• Build to rent / Private Rented Sector
• Co-Living
• Hotel
• Serviced Apartments
• Offices
• Student Living
35A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS
CGI of 29-31 Commercial Road.
CGI of pre-app scheme.
CGI of pre-app scheme.
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LOCAL DEVELOPMENTS
RESIDENTIAL
COMMERCIAL
MIXED USE
29-31 COMMERCIAL ROAD
An 18 storey development providing 42 residential units and commercial at ground floor level (Located on the western end of the same terrace)
ALDGATE TOWER
A 17 storey Brookfield commercial development providing 317,000 sq ft of Grade A office accommodation.
60 COMMERCIAL ROAD
A pure Student Living development comprising 417 student rooms and 27,000 sq ft of retail and office accommodation (Located opposite the subject property)
CITY SCAPE
A 12 storey Telford Homes development comprising 128 residential units
CITYSIDE & CHALLENGER HOUSE
An 8 storey Great Portland Estates commercial development providing 76,500 sq ft (7,106 sq m) of office space and 171 room hotel.
GOODMAN’S FIELDS
A 23 storey Berkeley Group development comprising multiple buildings providing 900 residential units, over 600 student rooms, a 250 room hotel and over 100,000 sq ft of retail and office space.
ALTITUDE
A 27 storey Barratt Homes development providing 235 residential units with office accommodation.
27 COMMERCIAL ROAD
A 21 storey 178 unit aparthotel due to be operated by Go Native.
ALDGATE PLACE
A Barratt Homes and British Land development comprising three towers in excess of 20 storeys providing a 160 room hotel and over 450 residential units with retail and office accommodation.
MAJOR DEVELOPMENT / REGENERATION AREA
35A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS
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Misrepresentation Act: 1. Allsop LLP and Savills on its own behalf and on behalf of the instructing party of this portfolio whose agent Allsop and Savills is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the instructing party does not make or give, and neither Allsop or Savills nor any of their members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: Command D - www.commandhq.co.uk 11.17
If you would like to inspect the property or require any further information then please do not hesitate to contact the joint agents listed below:
VATWe understand that the property is not elected for VAT.
EPCIndividual EPC’s for each flat are available to download from the data room.
DATAROOMFurther information can be downloaded from the dataroom www.35acommercialroad.com including:
• EPC’s
• Existing and proposed floor plans
• Consented planning documents
• Evidence of implementation
• Pre-application submission documents
• Pre-application response
PROPOSALUnconditional offers are invited for the freehold interest with vacant possession provided on completion.
Alex Soskin020 7409 [email protected]
Ed De Jonge020 7016 [email protected]
Hugh Bushell020 7075 [email protected]
Development
www.allsop.co.uk
www.savills.com
Anthony Dixon020 7344 [email protected]
James Abrahams020 7330 [email protected]
Richard How020 7344 [email protected]
Andrew Boyd020 7344 [email protected]
Development Commercial Development
CGI of pre-app scheme.
