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Earlsfield RiversideSW18 4RL
EarlsfieldRiverside
LONDON SW18 4RL
SOUTH WEST LONDON RESIDENTIAL DEVELOPMENT OPPORTUNITY
Earlsfield RiversideSW18 4RL
PAGE 1 Computer generated image of Wandle Terrace
Executive Summary - Riverside location a short walk from
Earlsfield Station
- Resolution to grant planning permission for a new build scheme comprising 129 residential units:
105 private units totalling 82,568 sq ft (7,670.6 sq m) NSA 9 intermediate units totalling 6,990 sq ft (649.4 sq m) NSA 15 affordable rent units totalling 10,605 sq ft (985.2 sq m) NSA Office accommodation totalling 11,796 sq ft (1,095.9 sq m) NIA
- 1.83 acres / 0.74 hectares
- A large proportion of private residential units qualify for Help to Buy
- For sale via informal tender
- Unconditional offers are invited for the freehold interest
Earlsfield RiversideSW18 4RL
PAGE 2
The River Wandle
Wandsworth Common
Spencer Lawn Tennis Club
Earlsfield Primary School
Wellington Works (Goldcrest)
Durnsford Park Recreation Ground
Westfield Waterside (Linden)
Ram Quarter & Southside Shopping Centre
Earlsfield High Street Earlsfield Station
Earlsfield RiversideSW18 4RL
PAGE 3
A Vibrant LocationThesiteisaccessedfromRavensburyTerrace,ashortwalkfromEarlsfieldtotheeast,tothesouthofWandsworthandeastofWimbledon.Earlsfieldisanaffluentandestablishedsuburbofsouth-westLondoncharacterisedbyVictorianterracedhousingwithlargeopenspacesincludingWandsworthCommon,WimbledonParkandStGeorge’sPark,whichtheRiverWandlerunsthrough.
Locally,EarlsfieldvillagehasembracedacaféculturethatisexceptionallypopularwithyoungprofessionalsandfamilieswithitsrangeofartisancoffeeshopssittingalongsideestablishedchildfriendlyrestaurantssuchasCarluccio’s.SouthsideShoppingCentreislocatedatthenorthernendofGarrattLane,approximately1milefromthesiteandprovidesanextensiveretailandleisureofferingwithhighstreetstoresincludingGap,OliverBonas,TopshopandWaterstones,aswellasaWaitrose,14screencinema,gymandrestaurants.
Earlsfield RiversideSW18 4RL
PAGE 4
For Business and PleasureThereareawiderangeofamenitieswithinthelocalvicinityincludingtheNuffieldHealthCentre,theSpencerLawnTennisClub,theWimbledonFarmers’MarketandWimbledonPark(tennisandgolf).LocalschoolsincludeWimbledonParkPrimarySchool,GarrattParkSchoolandBurntwoodSchool.
Earlsfield RiversideSW18 4RL
PAGE 5
A3036
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South Circular Road Wandsworth High Street East Hill
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East Hill
EarlsfieldRiverside
EARLSFIELD
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WANDSWORTH COMMON
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BALHAM
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Primary Schools1 FloreatWandsworthPrimary2 BeatrixPotterPrimary3 GarrattParkSchool 4 WimbledonParkPrimary 5 EarlsfieldPrimaryNurseries1 EddieCatz(playcentre)2 TheLittleHouseNursery3 StickyFingersPlaces of Interest1 SouthsideShoppingCentre2 RamBrewery3 TootingBroadwayMarket4 EarlsfieldHighStreet5 Carluccio’s6 CaféNero7 SpencerSportsClub8 BatterseaIronsides9 MagdalenTennisClub10 WimbledonPark11 WandsworthCommon12 GarrattPark13 DurnsfordRoadRecreationGround14 KingGeorge’sPark15 WimbledonFarmers’Market
Local Amenities
Earlsfield RiversideSW18 4RL
PAGE 6
Well ConnectedTransportlinkstothesiteareexcellent.
Earlsfieldrailwaystation(Zone3)islocatedwithin250metresandprovidesregularservices(every4minutesatpeaktimes)toClaphamJunction(LondonOverground),Waterloo(14minutejourneytime)andWimbledon.Inaddition,WimbledonParkstation(DistrictLine)islocated800metrestothesouth-west.
TherearealsoanumberofbusroutesrunningalongGarrattLaneprovidinggoodaccesstoboththeimmediateandwiderarea.
Journey Times
Waterloo14 minutes on train
A3/M25 JCT5 miles
M4 Motorway6 miles
M3 Motorway10.5 miles
Victoria23 minutes on train
Heathrow14 miles
Gatwick33 miles
Earlsfield Clapham Junction3 minutes on train
Wimbledon Park Earl’s Court 15 minutes on train
Earlsfield RiversideSW18 4RL
PAGE 7
RamQuarter Bronze,BuckholdRoad
SouthThamesCollege
Residential Market OverviewTherehasbeenlimiteddevelopmentlocallyofsignificantnote,principallyduetothefactthatthemajorityoftheEarlsfieldareawasdevelopedintheVictorianera.ThisisinstarkcontrasttoWandsworth,wherethereareanumberofschemesincluding:
Ram Quarter–TheredevelopmentoftheformerRamBrewerybyGreenlandtoprovide661units(595private&66intermediate).ThefirstphaseoftheschemehasnowcompletedandphaseIIhasbeenlaunchedwithaskingpricesinexcessof£850psf.
Bronze - Buckhold Road–Anewbuildschemeofupto18storeystoprovideawhollyprivateresidentialschemeof77units.Quotinginexcessof£875psf.
South Thames College–L&Q’sdevelopmentwhichwillprovide202units(151private&50intermediate).ConstructioncommencedinJune2017andwillrununtillate2018.PrivatesaleunitswillbelaunchedinQ22018.
Morelocally,LindenHomeshaverecentlycompletedWestfieldWaterside,a193unitschemewherethelatestflatshaveaveraged£815psf.ThereislittlenewdevelopmentintheimmediatevicinitywiththeclosestmajorschemebeingtheproposedredevelopmentoftheformerWimbledonGreyhoundStadium.
Earlsfield RiversideSW18 4RL
PAGE 8
Office Market OverviewInresponsetothegrowthinthewidergigeconomyandwithaviewtocreatinganintegratedenvironment,theproposedschemeprovidesacombinationofbothofficeandco-workeraccommodationatgroundandpart1stfloorlevel.Whilstco-workerspaceisarelativelyrecentphenomena,itisexpandingrapidlyandtakeuptendstobefocusedonareaswithstrongtransportlinks(suchasEarlsfield)andwithabroaderbackdropofamenitiesandservices.Theschemehasbeendesignedtooffertwofloorsofcontemporaryaccommodation,whichiscapableofprovidingattractiveofficeunits,studiosandworkshopsinadditiontoanon-sitecafé.Thespacehasbeendesignedtoallowforappropriatesub-divisionwithamannedreceptionandbreakoutspaces.Morebroadly,theGreaterLondonofficemarkethasseenan11.2%riseinrentallevelsinthelast3years.Inpart,thisisinresponsetothelossofemploymentspacetoresidentialleddevelopment.However,itisalsothecasethatmanybusinesseshavesoughttore-locatefromCentraltoGreaterLondontoprovideaccommodationthatbetterrepresentstheirbusinessonamoreeconomicbasis,anexamplebeingSquireandPartners’relocationtoFerndaleRoad,Brixton.
Submarket Headline Rents
Putney £45-50psf
Wimbledon £40psf
Wandsworth £35psf
Digital technology
Advertising, Marketing, Communications,Brand Consultancy, Publishing
Designer-Makers, Product Design
Production, TV, Music & Photography
Social Enterprise and Charity
Clothing & Fashion
Management Consultancy orBusiness Services (e.g. legal, finance)
Education & Training
Architecture
0% 5% 10% 15% 20% 25% 30%
Provision of Co-worker Space by Sector (Source:GLA)
Outer London Office Rental Value Growth (Source:MSCI)
120
160
200
Dec-11 Dec-13Dec-12 Dec-14 Dec-15 Dec-16 Dec-17
Year
Ren
tal G
row
th (
MS
CI I
ndex
)
Earlsfield RiversideSW18 4RL
PAGE 9
Riverside LocationEarlsfieldRiversideisaccessedfromPenwithRoadtothenorth.Thesiteisbroadlyrectangularinshapeonasouth-westaxisandisboundedbyterracedhousingtothewest,therailwayembankmentandRiverWandletotheeastandtheRufusBusinessCentretothesouth.ThesitepresentlyhasaroadwayrunningthroughitprovidingaccesstotheRufusBusinessParktothesouth,whichwillberelocatedwithinthesiteaspartoftheplanningpermissionand,oncompletion,willprovidecontinuedaccessthroughtheproperty.TheexistingsiteisbroadlylevelandbenefitsfromariverwallfrontingontotheRiverWandle.
Thesitetotals1.83acres(0.74hectares)andcomprises5industrialunitstotalling45,673sqft(4,243sqm)GIA.
APhaseIIEnvironmentalreportisavailableonthedataroom.
PAGE 10
Wimbledon Tennis Club
Wimbledon Common & Village
Plough Lane (Galliard)
The River Wandle
Garratt Park
Earlsfield High Street
Wimbledon Park
Earlsfield Station
Wimbledon Park Underground Station
Earlsfield RiversideSW18 4RL
PAGE 11
Outline Planning Permission for 129 Residential Units
ThesiteislocatedwithintheLondonBoroughofMerton,isnotlistedandisnotlocatedwithinaconservationarea.
Aresolutiontograntplanningpermission(Ref16/P2672)hasbeenmadefor:
“Demolitionofexistingbuildingsandredevelopmenttoprovideamixedusebuildingofpart4,part5andpart6storeys,accommodating1,177sqmGIAofcommercialspace(12,665sqft)and82residentialunits,andaresidentialterraceof2,3and4storeysproviding47residentialunits,totalling129dwellingswithinUseClassC3,togetherwithariversidepark,carparking,servicing,access,landscapingandotherworks.”
TheoutlineplanningpermissionissubjecttoaS106agreementbeingsigned,whichisintheprocessofbeingfinalised.
TheS106willincludeanaffordablehousingreviewmechanism.
TheS106providesfortheWandleTerraceofficespacetobeoccupiedasco-workeraccommodation.
Blue Badge Visitors Bay
Car Club Bay
Car parking forRufus Business Centre
PublicOpenSpace
Play AreaEU
RO
BIN
1100
LT
EU
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Commercial Unit424.7 sqm
Commercial Unit375.6 sqm
Plant
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EUROBIN1100 LT
EUROBIN1100 LT
EUROBIN1100 LT
44 spaces
52 spaces
Plant
Plant
Plant
24 spaces
20 spaces
EUROBIN1100 LT
EUROBIN1100 LT
EU
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1100
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EUROBIN1100 LT
BIN240LT
BIN240LT
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Commercial Unit177.6 sqm
WCs
Kitchen
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WCs
IT
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boxe
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EUROBIN1100 LT
EUROBIN1100 LT
EUROBIN1100 LT
30
HASLEMERE TERRACE
WANDLE TERRACE
RI V
ER
WA
ND
L E
Use / Tenure
Residential-SocialRent
Residential-Intermediate
Residential-PrivateSale
B1Commercial
WheelchairUnit
GroundFloorPlan
Plansnottoscale.Foridentificationpurposesonly.
Earlsfield RiversideSW18 4RL
PAGE 12
The Consented SchemeDesignedbyStitchArchitects,theschemecomprisestwodistinctcontemporaryblockswhichformanewurbanRiversideQuarter.AccesstotheschemeisprovidedfromRavensburyTerraceontoanewpublicopenspacewhichoverlookstheRiverWandleandprovidesaviewalongthenewlycreatedlandscapedaccesswaythroughthesiteleadingtotheRufusBusinessCentre.Theschemehasbeendesignedtointegratetheresidentialandcommercialuseswiththeintentofcreatinganinteractivegroundfloorfrontagewhichcomplementstheresidentialabove.Subtledetailssuchasthedifferingbricktoneshavebeenusedwithinthedesigntomirrortheaestheticdistinctionbetweenthetwobuildings,WandleTerraceandHaslemereTerrace,whichinmoredetailcomprise:
Wandle Terrace-Amixedusebuildingoverpart4,part5andpart6storeysaccommodating800sqm(8,615sqft)GIAofcommercialspaceontheraisedgroundfloorand82residentialunits.
Haslemere Terrace-Aresidentialbuildingonpart2,part3andpart4storeysproviding47residentialunitsinamixofhousesandwalk-upapartmentsand295.5sqm(3,181sqft)GIAofcommercialspaceacross2groundandfirstfloorunits.
Atgroundfloorlevel,thenewofficeshaveextensiveglazedfacadesinordertocreatevibrantstreetscapeswhilstabove,alloftheresidentialunitsbenefitfromprivateamenityspacewiththemajorityofunitsbeingdualaspect.
Computer generated image of Haslemere Terrace
Earlsfield RiversideSW18 4RL
PAGE 13
HASLEMERE AVENUE
Blue Badge Visitors Bay
Car Club Bay
CommercialUnit
117.9 sqm
WCs
Kitchen
WANDLE TERRACE
HASLEMERE TERRACE
RI V
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WA
ND
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K
E D C B A
JH G F
Use / Tenure
Residential-SocialRent
Residential-Intermediate
Residential-PrivateSale
B1Commercial
WheelchairUnit
Plansnottoscale.Foridentificationpurposesonly.
First Floor Plan
Earlsfield RiversideSW18 4RL
PAGE 14
Theschemehasnobasementlevelandtheproposalsprovidefortheexistingsitetoberaisedby0.5metres.
Private Intermediate Affordable TOTAL
Block Private Intermediate Affordable Rent NSA (sq m) NSA (sq ft) NSA (sq m) NSA (sq ft) NSA (sq m) NSA (sq ft) NSA (sq m) NSA (sq ft)
A 13x1b,11x2b,2x3b 1,905.9 20,516 1,905.9 20,516
B 3x1b,3x2b 416.1 4,479 416.1 4,479
C 9x1b,14x2b 1,661.1 17,881 1,661.1 17,881
D 3xstudio,3x1b 308.1 3,316 308.1 3,316
E 5x2b 4x1b,5x2b 2x1b,2x2b 394.8 4,250 649.4 6,990 290.9 3,131 1,335.1 14,371
F 1x1b,1x2b,1x3b 247.6 2,665 247.6 2,665
G 5x1b,4x2b,1x3b 666.6 7,175 666.6 7,175
H 5x1b,5x2b 641.0 6,900 641.0 6,900
J 5x1b,5x2b 641.0 6,900 641.0 6,900
K 6x1b,5x2b 694.3 7,474 694.3 7,474
Houses 6x3b 788.4 8,487 788.4 8,487
3 x studio, 44 x 1b, 48 x 2b, 4 x 3b, 6 x 3b houses 4 x 1b, 5 x 2b 8 x 1b, 7 x 2b 7,670.6 82,568 649.4 6,990 985.2 10,605 9,305.2 100,164
GIA 12,124.5 130,511
Tenure Split Units % by unit
Privatesale 105 81.4%
Intermediate 9 7.0%
AffordableRent 15 11.6%
129
Location Use Units NIA (sq m) NIA (sq ft)
WandleTerrace B1a Unit01 424.7 4,572
WandleTerrace B1a Unit02 375.6 4,043
HaslemereTerrace B1a Unit03-GrdFlr 177.6 1,912
HaslemereTerrace B1a Unit03-1stFlr 117.9 1,269
GIA 1,095.8 11,796
Schedule of Accommodation
Earlsfield RiversideSW18 4RL
PAGE 15
TechnicalAsiscommonforbrownfieldsitessuchasthis,thepropertyissubjecttotechnicalconstraintssuchascontamination,detailsofwhichcanbefoundinthedataroom.
ThereisaNeighbourlyDeedwiththeadjoiningowneroftheRufusBusinessCentrecoveringofftherelocationoftheroadthroughthesite.
GordonIngramAssociateshaveadvisedthattheconsentedschemedoesnotgiverisetoanyRightstoLightinfringementsbeyondthosealreadycompensatedforthroughprivatetreaty.
Fullinformationregardingalloftheaboveisavailableonthedataroom.
Data RoomFullbackgroundinformationisavailableviathedataroom,whichcanbeaccessedatwww.earlsfieldriverside.co.uk
TenureThesiteisheldfreeholdunderthefollowingtitles:SGL9275SGL411968SGL411967SGL693527SGL408400
Tenancy
ThepropertyisbeingsoldsubjecttoashorttermoccupationalleaseofUnit1infavourofCrossfitBoltLtdatarentof£51,200p.a.Theleaseisoutsidethe1954Actandvacantpossessioncanbeobtainedwithin3months.
ThereisanadditionalleaseinfavourofVodafoneinconnectionwiththetelephonemast.VodafonearecurrentlyholdingoverunderaleasethatexpiredinFebruary2011atarentof£35,000p.a.Afullstrategynoteinconnectionwithvacantpossessionissetoutonthedataroom.
VATThepropertyhasbeenelectedforVATandthereforeVATwillbepayableonthepurchaseprice.
EPCCopiesoftheEPCsareavailableonthedataroom.
Tender ProcessThepropertyisforsalebywayofInformalTender.Unconditionaloffersareinvitedforthefreeholdinterest.
Key
Freeholdsite Ownedby3rdparty.Rightofway
Earlsfield RiversideSW18 4RL
PAGE 16
MISREPRESENTATION ACT 1967LevyRealEstateLLPandJLLforthemselvesandfortheVendorsorlessorsofthispropertywhoseagentstheyaregivennoticethat:Alldescription,dimensions,referencetoconditionandnecessarypermissionsforuseandoccupationandotherdetailsaregivenwithoutresponsibilityandanyintendingpurchasersortenantsshouldnotrelyonthemasstatementsorrepresentationsoffactbutmustsatisfythemselvesbyinspectionorotherwiseastothecorrectnessofeachofthem.Anyservicesmentionedhavenotbeentestedandthereforeprospectiveoccupiersshouldsatisfythemselvesastotheiroperation.Theseparticularsareproducedingoodfaithandsetoutageneralguideonlyanddonotconstitutepartofanyofferorcontract.NopersonintheemploymentofLevyRealEstateLLPandJLLhasanyauthoritytomakeorgiverepresentationorwarrantyinrelationtothisproperty.AllpricesandrentsarequotedexclusiveofVATunlessotherwisestated.January2018.Designed and produced by Cooper Rose 020 3440 5160
InspectionAccessisstrictlycontrolledbyJLLandLevyRealEstateLLPandisbyappointmentonly.
Pleasecontactthedisposalteamforfurtherinformation:
JLL Bruno Jaczkowski [email protected] 02070875548
Dan Smith [email protected]
Levy Real Estate LLPMatt [email protected]
www.earlsfieldriverside.co.uk