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Green Park, BaTHGreen Park house | ernesT IreLanD house | BaTh | Ba1 1Xh
ExEcutivE Summary
◆ 0.50 hectare (1.23 acres) development opportunity in Bath city centre
◆ Located approximately 500m from southGate shopping Centre and 800m from Bath spa railway station
◆ Green Park house benefits from planning permission for a 190-bed hotel and c.28,500 sq ft office following demolition of existing vacant residential care home
◆ ernest Ireland house comprises approximately 1,416 sq m (15,250 sq ft) B1 (office)
◆ ernest Ireland house is subject to a lease dated 23rd november 2001 to John Mowlem & Co Plc for a term of 16 years at a passing rent of £225,000 per annum. The tenant is not currently in occupation
◆ Potential for comprehensive redevelopment for a variety of uses (sTP) comprising up to approximately 12,380 sq m (133,250 sq ft) based on nash Partnership volumetric feasibility study
◆ offered for sale in part or as a whole
West elevation
2
Green Park, BaTHGreen Park house | ernesT IreLanD house | BaTh | Ba1 1Xh
Bath riverside (Crest nicholson)
Bath Bus station
Thermae Bath spa
Bath spa railway station
Pulteney Bridge
royal Crescent
southGate shopping Centre
Bath abbey and roman Baths
The recreation GroundGREEN PARK, BATH
3
Green Park, BaTH
Bath is located in the South West of England approximately 115 miles west of London and 13 miles south east of Bristol.
Bath is a thriving, world famous city, which originated and developed around its hot spring waters, discovered by the Romans over 2,000 years ago. The city boasts some of the finest Georgian architecture in Britain and was inscribed as a Word Heritage Site in 1987, recognising its international cultural significance.
The city provides an extensive range of facilities and amenities, including shopping, museums, theatres and art galleries, as well as various sports facilities. One of Bath's principal industries is tourism, with an estimated 1 million staying visitors and over 4.5 million day visitors to the city on an annual basis (SWT Research).
Bath is the administrative centre of the district of Bath and North East Somerset (B&NES). The city has an estimated population of 84,250 (ONS, 2011) and a primary catchment of 447,000. Bath’s population is affluent, with a significantly above average proportion of adults of working age categorised within the most affluent AB social group; the least affluent D and E social groups are also particularly under represented (Promis).
Bath is a leading business destination with strengths in creativity, micro-electronics, high value engineering, low carbon industries and professional & financial services. The city also boasts one of the highest qualified resident workforces in the UK. Bath has two universities: University of Bath, located to the east of the city, and Bath Spa University, located to the west. The resident population in full time education is approximately 17,995 (HESA 11/12). Bath University was voted University of the Year in 2011/12 and ranked as the 3rd best University in the UK in The Sunday Times University Guide 2012. In addition, there is a selection of well regarded independent and state schools within and around the city.
Limited commentary on Bath’s hotel, residential and student markets is available in the data room at: www.savills.com/greenparkbath
LOcatiON
4
road
Bath is situated 8 miles to the south of Junction 18 of the M4, linked via the A46 trunk road. In addition, Bath benefits from the A4 which runs west to Bristol and east to Chippenham, and also the A36 Lower Bristol Road which connects Bath to Trowbridge, Warminster and Frome to the south.
rail
Bath Spa railway station provides a frequent mainline service to London Paddington (high speed) with an approximate journey time of 1 hour 30 minutes. It is anticipated that planned rail electrification inside the next 5 years will cut journey times to London by a further 20 minutes.
air
Bristol Airport is located 19 miles from Bath city centre. In 2012 it was the 9th busiest airport in the UK, handling over 5.9 million passengers and it is also one of the UK’s fastest growing regional airports. Bristol Airport offers over 100 direct international routes and it serves as the inbound gateway to the South West.
cOmmuNicatiONS
A37
A46
A4
A403
A368
A38
M39M39
A361
A361
A350
A303
M32
M4
M5
M49
BRISTOL
SHEPTONMALLET
BATH
GLASTONBURY
CHIPPENHAM
ROYAL WOOTTONBASSETT
WARMINSTER
FROME
TROWBRIDGE
MELKSHAM
LONDON
5
A36 Pulteney Rd
Bathwick St
Darlington St
Sydney Pl
A36 Lower Bristol Rd
Junction Rd
A367 Wells Rd
A367 Green Park Rd
A4 Upper Bristol Rd
Mar
lbor
ough
Ln
Julian Rd
A4 George St
A3039 Wal cot St
A4 T
he P
arag
on
Widcombe MillPrior Park Rd
John St
York St North Parade Rd
Great Pulteney St
St Jo
hn’ s
Rd
Sydney Rd
Bathwick St
North Rd
Royal Ave
Mal
boro
ugh
Build
ings
St A
nn’s
Way
Bathwick Hill
Sham Castle Ln
A3039 M
anvers St
A4 Charlotte St
Henrietta
Rd
BATH SPA
the site is situated in a prominent position fronting Green Park road (a367) within Bath’s central area.
The site is surrounded by a mixture of uses and is less than 500m from Bath’s primary shopping area and bus and coach station, around 800m from Bath Spa railway station.
Access to the site is from Green Park Road and also Kingsmead West, which connects to Kingsmead North and James Street West, located to the north east of the site.
SituatiON
ROAD
KIN
GS
ME
AD
WE
ST
GREEN PARK
GR
EEN PAR
K RO
AD
Trees
Met
ropo
litan
12
Kingsmead Court
Watermead
14
Hal
l
Sal
vatio
n
Green
Arm
y
Park
Riverside
The
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1 to 33
GardensClose
412
816
21182
4
27
1410
622
611
7
23
3
152017
135
9
19 22
1
40
House
The Cartographic & Design Team, Wessex House, Wimborne, Dorset. BH21 1PBTel: (01202) 856800
NOTE - Reproduced from the Ordnance Survey Map with thepermission of the Controller of H.M. Stationery Office.© Crown copyright licence number 100024244 Savills (UK) LimitedNOTE - Published for the purposes of identification only andalthough believed to be correct its accuracy is not guaranteed.
MCL: Date: 08/05/201318095/WHOLE SITE NOT TO SCALE
N
0.500ha
ErnestIreland House
GrEEN ParK, BatH i Ba1 1xH
6
the property currently comprises Green Park House and Ernest ireland House.
Green Park House (outlined in red) covers the majority of the site and comprises a vacant three-storey mid/late 20th century building previously operated as a residential care home (Use Class C2).
Green Park House comprises approximately 3,504 sq m (37,717 sq ft) GIA and occupies a site area of approximately 0.32 hectares (0.80 acres).
Ernest Ireland House ‘The Carillion Building’ (outlined in blue) is situated directly to the north of Green Park House. This property is currently arranged as open plan offices within a three-storey 1960’s building of concrete frame construction. The property was extended in the 1980’s, adding further wings to the northern, eastern and southern elevations creating a central courtyard.
Ernest Ireland House has a NIA of approximately 1,416 sq m (15,243 sq ft). In addition 48 parking spaces are provided. Ernest Ireland House occupies a site area of approximately 0.17 hectares (0.43 acres).
the combined site area of Green Park House and Ernest ireland House extends to approximately 0.50 hectares (1.23 acres).
DEScriPtiON
ernest Ireland house west elevation
7
Green Park house west elevation
the property is located within the jurisdiction of Bath and North East Somerset council (B&NES), in a World Heritage Site and conservation area.
PLaNNiNG
Trees
BATH
KIN
GS
ME
AD
WE
ST
GR
EEN P
ARK R
OAD
Met
ropo
litan
12
Kingsmead Court
Watermead
Hal
l
Sal
vatio
n
Green
Arm
y
Park
The
65
PH
1 to 33
Close
412
816
21182
4
27
1410
622
611
7
23
3
152017
135
9
19 22
1
40
House
Ireland HouseErnest
The Cartographic & Design Team, Wessex House, Wimborne, Dorset. BH21 1PBTel: (01202) 856800
NOTE - Reproduced from the Ordnance Survey Map with thepermission of the Controller of H.M. Stationery Office.© Crown copyright licence number 100024244 Savills (UK) LimitedNOTE - Published for the purposes of identification only andalthough believed to be correct its accuracy is not guaranteed.
MCL: Date: 08/05/201318095/Green Park House 5 NOT TO SCALE
N
LOT 3
LOT 1
LOT 2
0.174ha(0.43ac)
0.102ha(0.25ac)
0.223ha(0.55ac)
Green Park House currently benefits from two planning permissions:
Lot 1
Detailed planning permission for: ‘Construction of a 190-bed hotel incorporating a coffee shop, restaurant and associated facilities and works together with a temporary urban garden following demolition of Green Park House’ (application reference 10/01830/FUL).
Lot 2
Detailed planning permission for: ‘Erection of an office building (use class B1) totalling 2,751m together with basement parking (763m) for 26 cars and associated facilities and works following demolition of Green Park House (application reference 10/01831/FUL).
Both planning applications were granted planning permission on 10/10/2010. In accordance with condition one of both the decision notices, the permissions remain extant until 10/10/2013. Several discharge of condition applications have been submitted and approved by the Local Authority since the approval of both schemes outlined above. In addition, a minor non-material amendment for changes to the internal layout and changes to external features of the hotel was granted on 3 October 2012.
Ernest ireland House (Lot 3)
The current use of Ernest Ireland House is business (Use Class B1). Following an assessment of the B&NES public access website, there is no relevant planning history for this property.
8
PrOPOSED HOtEL (Lot 1)
area Schedule - Proposed Hotel
FloorProposed Gia (Sq m)
Proposed Gia (Sq Ft)
Lower Ground 1,499 16,135
Upper Ground 385 4,144
First 1,716 18,471
Second 1,460 15,715
Third 1,450 15,608
Fourth 665 7,158
TOTAL 7,175 77,232
9
Computer Generated Image – Proposed hotel west elevation
10
area Schedule - Proposed Office
FloorProposed GIa (sq M)
Proposed GIa (sq Ft)
Basement 32 344
Ground 670 7,212
First 670 7,212
Second 670 7,212
Third 610 6,566
TOTAL 2,652 28,546
PrOPOSED OFFicE (Lot 2) ScHEmatic PLaNS FOr cONSENtED ScHEmE (Lots 1 and 2)
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Computer Generated Image – Proposed office west elevation
11
area Schedule - Existing Office
FloorProposed GIa (sq M)
Proposed GIa (sq Ft)
Ground 478 5,142
First 467 5,030
Second 471 5,070
tOtaL 1,416 15,243
ErNESt irELaND HOuSE (Lot 3)ScHEmatic PLaNS FOr cONSENtED ScHEmE (Lots 1 and 2)
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S I T E P L A N
H O T E L P L A N S
O F F I C E P L A N S
not to scale – for identification purposes only
ernest Ireland house west elevation
◆ The principle of renewing the planning consents is sound and highly likely to be acceptable considering the precedent set by the extant permissions and the ‘in principle’ planning policy support for mixed-use development.
◆ It is considered that a very strong case could be made for residential development given the previously developed nature of the site, its sustainable location and the Local Planning Authority’s inability to demonstrate the availability and deliverability of a five year housing land supply; the presumption in favour of sustainable development should therefore apply.
◆ The site is situated in an extremely sustainable location for student housing. Purpose built student accommodation of this type will alleviate pressure on the existing residential housing stock and, in particular, reduce the pressure for conversion of existing family housing to houses in multiple occupation. The Local Authority has identified the need to deliver a significant quantum of student housing.
◆ There is a distinct opportunity on the site to improve and enhance the character of the immediate area. The design and character of the development will be key to the success of a planning application for an alter native use.
PLaNNiNG aND DEvELOPmENt POtENtiaL Bath based architecture practice Nash Partnership have been commissioned to
undertake a volumetric feasibility study in order to inform and quantify the potential for the comprehensive redevelopment of the property (i.e. Green Park House and Ernest Ireland House). The resulting studies are provided below.
A limited commentary of the various considerations which have informed the feasibility study, including illustrated 3D models is available in the data room.
cONcEPtuaL ScHEmE
Option 1: residential
We have reviewed the site and its opportunities and constraints in the context of local and national planning policy. the following key considerations summarise our view of the potential for partial or wholesale redevelopment:
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◆ Residential Indicative GEA: 9’505 sq m (102,312 sq ft).
◆ The all residential option assuming five storeys along Green Park Road frontage in line with the massing of approved Hotel and Office consents (Lots 1 and 2) and in addition, a lower three storey ‘mews’ style development to the east of the site.
◆ At least 96 car spaces could be provided, and possibly more.
PLaNNiNG aND DEvELOPmENt POtENtiaL
Option 3: residential and Student accommodationOption 2: Student accommodation
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◆ Student Accommodation Indicative GEA: 12’380 sq m (133,250 sq ft).
◆ This option has greater flexibility within the constraints site and could incorporate smaller courtyards which break out onto the park beyond.
◆ A small number of car spaces could be incorporated along the road; the requirement for on-site parking for a student development would be minimal.
◆ Residential and Student Accommodation Indicative GEA: Residential: GEA 5,250 sq m (56,511 sq ft) Student: GEA 5,000 (53,820 sq ft) TOTAL: 10,250 sq m (110,330 sq ft).
◆ Including a mix of uses on the site may allow more flexibility in to the different site constraints.
◆ It is assumed that car parking below a green deck would provide around 50 car spaces, and possibly more.
GENEraL iNFOrmatiON tENurEThe freehold for Green Park House and Ernest Ireland House is held at the Land Registry under Title Number ST223932.
The freehold for Ernest Ireland House is subject to a lease dated 23rd November 2001 to John Mowlem & Co Plc for a term of 16 years on full repairing and insuring terms, subject to 5-yearly upward-only rent reviews at a passing rent of £225,000. The tenant is not currently in occupation.
BuSiNESS ratESErnest Ireland House has a rateable Value of £208,500. Please verify actual rates payable with the Local Authority.
EPcErnest Ireland House has been assessed as follows: EPC Band E. An EPC certificate is available upon request.
vat All figures quoted are exclusive of VAT where applicable. Further information is available on request.
viEWiNGSThe property is viewable from Green Park Road (A367). All internal viewings are by to be arranged through Savills.
FurtHEr iNFOrmatiONFurther information is available in the data room at: www.savills.com/greenparkbath
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mEtHOD OF SaLE ◆ The property is to be sold by informal tender either in part or as a whole
◆ Offers are invited for the freehold interest, subject to the office tenancy (Ernest Ireland House), either on an unconditional basis or, alternatively, on a subject to planning basis
◆ The vendor’s preference is for an unconditional sale, however, the vendor is amenable to joint venture and deferment if this provides scope to maximise the land value
◆ Interested parties are encouraged to submit outline terms and deal structure for informal feedback prior to submitting an offer
◆ Bids can be received by email or post and should be marked for the attention of Ben Taylor (contact details over leaf)
◆ The vendor is not obliged to accept the highest or any offer
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important NoticeSavills their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
2. Any areas, measurements or distances are approximate. The text, images and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
Subject to Contract. May 2013
For further information please contact:
Savills Hotels: Michelle Webb, [email protected], +44 (0) 20 7409 9919, +44 (0) 7738 501309
Savills Bristol Development chris Birakos [email protected] +44 (0) 117 9100 322 +44 (0) 7807 999060
Savills Student investment: Lizzie Whetman, [email protected], +44 (0) 20 7016 3863, +44 (0) 7807 999174
Savills Bristol Development Ben taylor [email protected] +44 (0) 117 9100305 +44 (0) 7812 965327
Savills Offices: Chris Meredith, [email protected], +44 (0) 117 910 2216, +44 (0) 7870 999732
