lombard road, battersea, london sw11pdf.savills.com/documents/regent-house-waterfront... · a...
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Two head leasehold residenTial invesTmenTs available eiTher collecTively or individually
Lombard road, battersea, London sW11
reGent HoUse WaterFront HoUse totaL
Units 7 apartments 12 apartments 19 apartments
GIa (sq ft) 7,930 12,355 20,285
GIa (sq m) 736.7 1147.8 1884.5
Passing rent (pa) £196,300 £307,070 £503,370
occupancy 100% 100% 100%
tenure head leasehold head leasehold 2 individual head leasehold interests
Potential Ground rent income* £1,800 per annum £2,750 per annum £4,100 per annum
(assuming £200pa for 1 bed and £250pa for 2 bed)
reGent HoUseInvestment sUmmaryThe opportunity to purchase two head leasehold interests comprising a total of 19 apartments and 19 basement car parking spaces.
regent House: (999 years at a peppercorn rent) h Ground, first and second floors h entire first floor comprises 7 first floor apartments
(1 x studio, 3 x 1 bed, 3 x 2 bed) each let subject to an asT h Ground and second floor offices sold on long leases h 7 basement car parking spaces h Total gross current rent reserved £196,300 per annum
Waterfront House: (999 years at a peppercorn rent) h Ground, first and second floors h 12 apartments (5 x 1 bed, 7 x 2 bed) each let subject to an asT h 7 flats and remaining commercial space sold on long leases at
peppercorn rents h 12 basement car parking spaces h Total gross current rent reserved £307,070 per annum
h located in oyster wharf, battersea within the london borough of wandsworth close to the nine elms regeneration area
h an established residential location, on the south bank of the river Thames
h each apartment is finished to an excellent specification with good ceiling heights
h Fully let producing a total gross current rent reserved of £503,370 per annum
h excellent micro location that has experienced robust capital and rental growth
h estimated rental value: £510,000 per annum
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WaterFront HoUse
3
PUTNEYBRIDGE
PARSONSGREEN
FULHAMBROADWAY
WESTBROMPTON
EARL’SCOURT
WESTKENSINGTON
HIGH STREETKENSINGTON
GLOUCESTERROAD
SOUTHKENSINGTON
KENSINGTONOLYMPIA
BARONSCOURT
HAMMERSMITH
IMPERIALWHARF
CLAPHAMJUNCTION
WANDSWORTHTOWN
PUTNEY
A4 TALGARTH ROAD
A4 CROMWELL ROAD
A3220
F INBOROUGH ROAD
A3220
ASHBURNHAMROA
D CREMORNE ROAD
A3220
REDCLIFFE GARDENS
A3220
FULHAM ROAD
A308
YORK R
OAD
A3220
UPPER RICHMOND ROAD A205
A308
NEW KIN
G’S ROAD
A308
KING’S ROAD
A3217
FULHAM
PALACE R
OA
D
A219
FULH
AM H
IGH STREET
FU LHA
M R
OAD
DAWES ROAD
LILLIE R OAD
A3218
NORTH
END ROAD
B317
F U L H A M
B AT T E R S E APA R K
S O U T HPA R K
W A N D S W O RT HPA R K
I M P E R I A LPA R K
H U R L I N G H A MPA R K
F U L H A MPA L A C E
F U L H A MF O OT B A L L
C L U B
T H EH U R L I N G H A M
C L U B
C H E L S E AH A R BO U R
LOT S R O A DP O W E R
S TAT I O N
LO N D O NH E L I P O RT
B AT T E R S E AR E A C H
R I V E R S I D EQ U A RT E R
M O N T E V E T R OB U I L D I N G
C H E L S E A
W E S TK E N S I N G TO N
S O U T HK E N S I N G TO N
WAN
DSW
ORTH
BRIDGE ROAD
MUN
STER ROAD
C H E L S E AF O OT B A L L
C L U B
R I V E R T H A M E S
LocatIonoyster wharf is located on the battersea embankment in the london borough of wandsworth. The property is situated on the south side of the river Thames and benefits from its close proximity to the shops on battersea high street.
more extensive shopping and amenities can be found at clapham Junction which is an approximate 10 minute walk to the south. These include a wide range of shops, restaurants and bars, including debenhams department store, wholefoods, 24 hour asda superstore, Jamie’s Kitchen, TK max and waitrose. The property benefits from being close to the open space of york Gardens and battersea Park.
The scheme is located in a predominantly residential area which has benefited from strong capital growth. The area continues to attract notable inward investment and development activity. The most recent development includes helicopter heights, a 15 storey tower situated immediately to the west of the property.
transPortTransport links are excellent with clapham Junction mainline Train station 1.29 km (0.8 miles) to the south providing direct access into central london; vauxhall (4 minutes), london victoria (8 minutes) and waterloo (7 minutes). in addition, numerous buses run along york road (a3205), while battersea bridge road (a3220) provides access to a number of central and peripheral london locations.
Mud
Mea
n H
igh
Wat
er
4.6m
4.7m
4.9m
Dock
DW
MoP
DW
Oyster
MoP
P ier
Mooring Po stsLO
MBA
RD
RO
AD
HA
RRO
WA
Y R
OA
D
SP
P lay Area
19 to
36 G
rove
37
W arehouse
Bu ilder's Yard
19
80
20
0m 10m 20m 30m
reGent HoUse
WaterFront HoUse
descrIPtIonFormerly a derelict wharf, oyster wharf is a mixed use development originally constructed by barratt homes. The development comprises three buildings consisting of 146 flats, 8 live/work units, offices, a restaurant and basement car parking.
The subject portfolio provides 19 apartments and 19 basement car parking spaces with a rent totalling £503,370 per annum comprising:
reGent HoUse
tenurea head leasehold interest for a term of 999 years (less 3 days) from 25 december 2003 over the ground, first and second floors.
accommodationThe head leasehold interest covers the ground, first and second floors, each of which were originally completed as office accommodation.
both ground and first floor offices are sold subject to long leases for terms of 999 years (less 3 days) from 25 december 2003 at a peppercorn rent.
The first floor comprises 7 residential apartments consisting of 1 x studio, 3 x 1 bed, 3 x 2 bed. The apartments were converted under Permitted development rights in January 2015. each of the apartments have been finished to a high specification with good ceiling heights. each of the flats benefit from a basement car parking space.
tenancieseach of the seven flats are let subject to an asT. The total gross current rent reserved is £196,300 per annum.
WaterFront HoUse
tenurea head leasehold interest for a term of 999 years (less 3 days) from 25 december 2003 over the ground, first and second floors.
accommodationThe head leasehold interest covers the ground, first and second floors, each of which were originally completed as office accommodation. waterfront house is now a predominantly residential block, having been converted from offices historically.
Flats 1,2,6,8,9,13 and 15 are all sold on long leases for a term of 999 years (less 3 days) from 25 december 2003 at a peppercorn rent.
The 12 apartments (5 x 1 bed, 7 x 2 bed) are arranged over ground, first and second floors. Flats 3,4,5 and 7 are located on the first floor, flats 10,11,12 and 14 on the second floor and flats 16,17,18,19 on the third floor. The apartments are in good condition and all of the flats benefit from views over the river or the dock.
each of the unsold flats benefit from a basement car parking space.
tenancieseach of the 12 flats are subject to an asT agreement. The total gross current rent received is £307,070 per annum.
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nIne eLms reGeneratIonnine elms is one of europe’s largest regeneration areas and runs from chelsea bridge east to vauxhall bridge. oyster wharf is close to this regeneration area and therefore benefits from the surrounding infrastructure improvements that are underway.
The area has seen the transformation of the battersea Power station, as well as the delivery of The ballymore Group’s plans for the 15 acre development ‘embassy Gardens’, delivering new homes alongside shops, cafes, bars, restaurants, business space, a 100 bed hotel, a health centre, children’s playgrounds and sports pitches. The area will be connected via a linear Park ‘green corridor’ between battersea Power station and vauxhall cross.
work commenced in 2013 on regeneration of the area around battersea Power station, including shops, cafes, restaurants, art and leisure facilities, office space and residential buildings. an essential part of the work is an extension of the london underground. The proposed extension would branch from the northern line at Kennington and travel west to nine elms and battersea - creating two new stations. The stations are due to be operational by 2020 and will fall within Travel Zone 1.
tenancy scHedULe
regent House
Flat no. Floor beds Floor area (sq ft)
Floor area (sq m)
Parking space
status tenancy start date
tenancy end date
break Let Furnished or Unfurnished
rent per month
rent per annum
1 1 studio 505 47 eJ let 20.01.2016 19.01.2017 no break furnished £1,517 £18,200
2 1 1 700 65 bo let 07.03.2015 06.03.2016 6 months (l&T) furnished £1,777 £21,320
3 1 2 1,420 132 bP let 23.03.2015 20.03.2016 6 months (l&T) unfurnished £2,600 £31,200
4 1 1 904 84 Fu let 12.06.2015 11.06.2016 6 months (l&T) unfurnished £1,755 £21,060
5 1 1 1,033 96 bQ let 21.03.2015 22.03.2016 12 months (l&T) unfurnished £1,950 £23,400
6 1 2 1,399 130 bn let 17.04.2015 17.04.2017 no break unfurnished £3,012 £36,140
7 1 2 1,969 183 bm let 31.03.2015 30.03.2016 6 months (l&T) furnished £3,748 £44,980
sub total 10 7,930 737 £16,359 £196,300
Waterfront House
Flat no. Floor beds Floor area (sq ft)
Floor area (sq m)
Parking space
status tenancy start date
tenancy end date
break Let Furnished or Unfurnished
rent per month
rent per annum
3 2 2 1,066 99 as let 28.07.2015 27.07.2016 6 months (l&T) furnished £2,080 £24,960
4 2 1 1,001 93 eF let 14.11.2014 13.11.2015 6 months (l&T) furnished £1,777 £21,320
5 2 2 1,356 126 ec let 13.12.2014 12.12.2015 6 months (l&T) furnished £2,297 £27,560
7 2 1 732 68 ea let 16.06.2015 06.06.2016 6 months (l&T) unfurnished £1,907 £22,880
10 1 2 1,066 99 ei let 18.01.2015 17.01.2017 no break unfurnished £2,145 £25,740
11 1 1 1,001 93 eb let 24.04.2015 22.04.20117 no break furnished £1,907 £22,880
12 1 2 1,356 126 bs let 08.12.2015 07.12.2016 6 month (l&T) unfurnished £2,298 £27,573
14 1 1 732 68 eG let 05.05.2015 04.05.2016 2 months (l&T) furnished £1,863 £22,360
16 G 2 1,195 111 dZ let 15.10.2015 14.10.2016 12 months (l&T) furnished £2,298 £27,573
17 G 1 968 90 br let 04.10.2015 04.10.2016 2 months (l&T) furnished £1,702 £20,420
18 G 2 870 81 ee let 17.06.2015 16.06.2016 6 months (l&T) part furnished £2,470 £29,640
19 G 2 1,012 94 aT let 11.07.2014 10.07.2016 2 month (T only) unfurnished £2,847 £34,164
sub total 19 12,355 1,148 £25,589 £307,070
Grand total 20 20,285 1,885 £41,948 £503,370
*rent received as of January 2015. * Parking spaces demised by the vendor. individual leases give the ‘right to park’.
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7
UNIT 1
UNIT 2
UNIT 3
UNIT 5UNIT 4
UNIT 6
UNIT 7
UNIT 3
UNIT 1
UNIT 2
UNIT 4
UNIT 5
UNIT 7
UNIT 6
WaterFront HoUse - second FLoor
reGent HoUse - FIrst FLoor
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UNIT 10
UNIT 11
UNIT 12
UNIT 14
UNIT 9
UNIT 8
UNIT 13
UNIT 16UNIT 15
UNIT 17
UNIT 18
UNIT 19
WaterFront HoUse - GroUnd FLoor
WaterFront HoUse - FIrst FLoor
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10
servIce cHarGeservice charge budgets and apportionments are all available to download from the data room.
vatThe sale of the property is exempt from vaT, so none will be payable.
metHod oF saLeThe head leasehold interests for both regent house and waterfront house are being offered for sale by way of private treaty and are available either collectively or individually.
GUIde PrIceoffers in excess of £14,000,000 are invited for the portfolio in its entirety subject to existing asTs and contract.
alternatively offers in excess of £5,000,000 and £9,000,000 are invited for the head leasehold interest in regent house and waterfront house respectively, subject to all existing asTs and contract.
vIeWInGsa limited number of set viewing days are to be scheduled. viewings are by appointment only, via the vendor’s selling agents, savills and allsop.
FUrtHer InFormatIonThe following information is available to download from our website: www.regenthouseandwaterfronthouse.com
h additional photos h Full accommodation and tenancy schedule h Floor plans h ePcs h service charge budget, apportionments and audited accounts h copy head leases h land registry Titles
contacts
savillsdavina clowes +44 (0) 207 016 3838 [email protected]
James Laverack +44 (0) 20 7016 3770 [email protected]
allsopJames Hood +44 (0) 207 344 2637 [email protected]
adam Kerven +44 (0) 207 344 2628 [email protected]
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Important notice
savills, 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, photographs 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.
designed and Produced by savills marketing: 020 7499 8644 | Janary 2016