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BEST & FINAL OFFERS INVITED BY FRIDAY 10th JUNE 2016• Of interest to developers, occupiers and investors• Potential for major residential or commercial led development• Major River Adur and road frontages• Located within the Western Harbour Arm Development Brief Area• Vacant possession summer 2018 (excluded leases)• Current net income £139,000 pax rising to £149,000 pax• Located within a mixed use area
KINGSTONWHARFSHOREHAM
3.96 Acres (1.605 ha) Freehold For Sale
Kingston Wharf, Brighton Road, Shoreham By Sea, West Sussex, BN43 6RN
MAJOR WATERSIDERESIDENTIAL/MIXED USE OR COMMERCIALDEVELOPMENT OPPORTUNITY
KINGSTON WHARF
Shoreham Port
Shoreham Beach
Shoreham
Upon the instructions of
LOCATIONShoreham is located on the South Coast 5 miles to theeast of Worthing and 6 miles to the west of the City ofBrighton & Hove. Shoreham has an urban populationof approximately 19,000 and a catchment population of290,000 within 12 miles of the town centre. The townbenefits from a direct rail link with London Victoria (1hour 15 minutes)
Shoreham is well served by the national road networkcomprising the A259 main coast road with links to thenational road networks via the A27 and A (M23) North.
SITUATIONThe site is located to the east of Shoreham town centreto the south side of the A259 Brighton Road. The sitehas both significant road frontage and river frontage tothe River Adur and comprises open storage areas, withthree main road access points. The site currentlyaccommodates an existing modern warehouse unit withoffices, which extends to 19,750 Sq Ft (1,834 sqm) .
SITE AREAThe site area is 3.96 acres (1.605 hectares).The river and road frontages are approximately339m (1112ft)
TENUREThe site is to be sold freehold subject to the varioustenancies.
TENANCIES The site is currently let to two commercial tenants.
Stamco currently lease the eastern end of the site andthe modern warehouse building on a lease expiring inJune 2018. The lease incorporates a mutual breakclause operational in June 2016 and 2017 upon at least6 months prior written notice. The lease is excludedfrom the 1954 Landlord & Tenant Act.
The western end of the site is subject to two openstorage leases to the Day Group. Both are for a term offour years from April 2014. Both leases are excludedfrom the 1954 Landlord & Tenant Act.
The Port Authority maintain responsibility for around£20,000 of business rates under the Day Group leases,so the total net rental income from the site at presentis therefore £139,000 pax exclusive rising in December2016 to £149,000 pax.
KINGSTONWHARF
The iconic Adur Ferry Bridge © sussexphotos.co.uk
East Street Shoreham, Pedestrianised Shopping
Southwick Waterfront
MAJOR WATERSIDERESIDENTIAL/MIXED USEOR COMMERCIALDEVELOPMENT OPPORTUNITY
PLANNINGThe site currently has planning consent foropen storage and B8/B1 uses, but hassignificant potential for a residential ledregeneration development.
The site sits within the Joint Area ActionPlan 2014 and the area of the WesternHarbour Arm Development Brief, preparedby Adur District Council which promotes thesite for significant residential led andcommercial development. A summary ofthese documents is available within theInformation Pack, together with anArchitects feasibility study, demonstratingpotential for an apartment development ofin the order of 300 units.
The Architects feasibility study has beendisclosed to Adur District Council forcomment, but not through a formal preapplication process.
Following the extensive public consultation and partnershipworking undertaken to complete the Western Harbour ArmDevelopment Brief, I was very encouraged to see that theKingston Wharf site is now coming to market this spring.
I appreciated you sharing the master planning work preparedby ECE Architecture with the Council, ahead of the sitecoming to the market and the concept plans I am sure willattract significant developer interest. The site represents agreat opportunity for the private sector to bring forward anexciting mix of homes and jobs to regenerate the area and actas catalyst for further development sites to come forward.
The ECE sketch proposals appear to have captured thekey elements of the adopted Development Brief andreflect the overall vision for the regeneration of theWestern Harbour Arm.
Without prejudice I would like to think that other membersof the Shoreham Harbour Regeneration Partnership andAdur Council would welcome the approach that has beenproposed in the master planning work undertaken.
I am sure the site will be very well received in the marketand wish you well with the sale of the site. I look forwardto working closely with the successful purchaser to delivera high quality mixed use development on the site.
JAMES APPLETONHead of Economic Growth at Adur District Council andChairman of the Shoreham Harbour RegenerationPartnership Project Board.
Email extract to Peter Davies Development DirectorShoreham Port Authority March 2016
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”
THEPLANNING
BLOCK H4 storeys fronting the A259, rising to 8 storeys
at centre of site. Building orientated to beoutside of navigation line.
BLOCK A4 storeys fronting the A259,rising to 8 storeys at river side.
Promenade CafeSingle storey cafe on the promenade,
and visible from the A259
Amenity SpacePodium deck terraced down to promenade,providing landscaping, seating and gathering spaces.
ARCHITECTS VISION FOR KINGSTON WHARFPROPOSED AERIAL VIEW FROM SOUTH EAST
LOCATION KEY1 Brighton City Airport
2 Ropetackle North - The Hyde Group
3 Ropetackle
4 Shoreham Town Centre
5 Shoreham Railway Station
6 WN Developments Site Mixed Use (under construction)
7 Free Wharf - Southern Housing Group
8 Shoreham Beach
9 Western Harbour ArmDevelopment Brief Area
10 Kingston Wharf
11 Howard Kent
12 Southwick Waterfront Development
13 SouthwickRailway Station
14 Southwick Town Centre
15 South Coast Railway Line
16 A259 main coast road
17 Hove Lagoon
INDICATIVE DESIGN SOLUTION
THELOCATION
6
5
8
11
1 2
3
4 7 910
Extract from theFlood Risk Management Guide
Worthing
KINGSTON WHARF ORDNANCE SURVEY MAP EXTRACT
12
14
16
15
17
13
Brighton
Approximate site boundary for illustrative purposes only
Kingston Wharf, Brighton Road, Shoreham By Sea, West Sussex, BN43 6RN
SOLE AGENTSOakley23 & 24 Marlborough PlaceBrighton BN1 1UB
T 01273 688882E [email protected]
oakleyproperty.com
FURTHER INFORMATIONSteven HarveyT 01273 645772 E [email protected]
Chris OakleyT 01273 645776 E [email protected]
A40MM4
M3
M27
M25
M23
A27 A27
A23
A272A272
A24
A26 A24
A3
A22
M20
M2
M25
M25
LONDON
Eastbourne
Hastings
Maidstone
Seaford
Tunbridge Wells
ShorehamWorthingLittlehampton
Chichester
Portsmouth
Isle ofWight
Horsham
Crawley
Guilford
Haywards Heath
BRIGHTON
KINGSTONWHARFSHOREHAMMAJOR WATERSIDERESIDENTIAL/MIXED USEOR COMMERCIALDEVELOPMENT OPPORTUNITYBEST & FINAL OFFERS INVITEDBY FRIDAY 10th JUNE 2016
BASIS OF SALEBest and final offers are invited by5pm Friday 10th June 2016.
The property is to be sold by informal tender and alloffers should be for a fixed sum, unrelated to other offers.
Consideration will be given to either unconditional orsubject to planning offers. Unconditional offers maycontain an overage provision which takes account ofthe residential development potential of the site.
Offers should provide a summary of the proposedscheme and ideally indicative sketch plans.
Interested parties are requested to providebackground evidence of how the purchase will befunded and provide a set timetable for exchange ofcontracts and completion of the purchase.
SUBMISSION OF OFFERSOffers should be marked ‘Kingston Wharf Offer’ andbe addressed to: Mr C Oakley, Oakley,23-24 Marlborough Place, Brighton, BN1 1UB.
EPCThe Stamco building has a rating of 90 (band D)
INFORMATION PACK DOWNLOADAn information pack is available to download fromour home page at www.oakleyproperty.com, whichwill contain:
• Title information• Tenancy information• Site plans• Asbestos survey • EPC• Architects design study• River wall survey • Flood Risk Management Guide• Shoreham Port Masterplan• Joint Area Action Plan for Shoreham Harbour• Western Harbour Arm Development Brief
RATEABLE VALUEKingston Railway Wharf is £92,500 (a singleassessment). This is made up of the following:Kingston Railway Wharf East (site) £40,000Kingston Railway Wharf East (bagging plant) £25,000Kingston Railway Wharf West £27,500Kingston Wharf ( STAMCO) £118,000
VATThe majority of the property is registered for VAT.However, as it is tenanted, it is likely that a salecan be treated as the transfer of a TOGC.
Please Note: These details have been produced in good faith and are believed to be accurate based upon the information supplied but they are not intended toform part of a contract. You are strongly advised to check the availability of the property before travelling any distance to view. All statements contained in theseparticulars as to this property are made without responsibility on the part of Oakley or the vendors or lessors. None of the statements contained in these particularsas to this property are to be relied on as statements or representations of fact. Any intending purchasers must satisfy themselves by inspection or otherwise asto the correctness of each of the statements contained in these particulars. The vendors do not make or give and neither Oakley nor any person in their employmenthas any authority to make or give any representation or warranty whatsoever in relation to this property. de
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