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Home , Copse Hill, Kingston upon Thames, Morden, Motspur Park, New Malden, New Malden High Street

COOMBE HILL HOUSE BEVERLEY WAY | | SW20 0AR

South West conversion / REPOSITIONING opportunity EXECUTIVE SUMMARY

» An exciting conversion / repositioning opportunity of a highly prominent vacant office building » New Malden is a highly affluent situated within the Royal Borough of » Strategically located approximately 10 miles south west of and 3 miles to the south west of Wimbledon » Large island site extending to 0.75 acres (0.30 hectares) » The existing building extends to approximately 5,134 sq m (55,266 sq ft) GIA, including undercroft parking » Opportunity to refurbish and reposition the office accommodation or convert to alternative uses subject to obtaining the necessary consents » Prior approval granted for conversion to provide 69 residential units and 78 car parking spaces » Total proposed residential net saleable area (NSA) of 2,673 sq m (28,770 sq ft), excluding undercroft parking » Coombe Hill House provides 78 car parking spaces at a ratio of 1:709 sq ft » Freehold with vacant possession

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 2 LOCATION

New Malden is a highly affluent of south west London majority located in the Royal Borough of Kingston upon Thames however a small part of the town is situated in the London Borough of . The town is situated approximately 10 miles south west of central London, 6 miles south of Richmond and 10 miles to the south east of . The market town is bounded to the north by Coombe Hill and to the south and east by , and . New Malden is well located and benefits from excellent communication links. The town is located to the north of the A3 Kingston Bypass, which provides access into central London and out to the M25 and wider motorway network. In addition the M3 motorway lies 8 miles to the west via the A308. The town is an established commercial centre and has attracted a number of major office occupiers including BAE Systems, Flight Centre, Hays Recruitment, HomeProtect and Reed Recruitment. is home to a number of major retail and leisure occupiers including Boots, HSBC, McDonalds, Nando’s, Pizza Express, Poundland, and Wilko. Nearby Kingston, located two miles to the west, is a thriving retail and leisure destination with its major shopping centre, The Bentall Centre offering a wide range of retail amenities, including a large John Lewis, and The Rotunda includes a 14 screen cinema, gym, bowling alley and various restaurants.

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 3 WIMBLEDON AELTC WIMBLEDON VILLAGE WIMBLEDON TOWN CENTRE

ROYAL WIMBLEDON GOLF CLUB

COPSE HILL

CENTRAL LONDON (10 MILES) A3

RAYNES PARK STATION

COOMBE HILL HOUSE

MALDEN GOLF CLUB

A3

NEW MALDEN STATION

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 4 A12 A110 M11

M25 M1 High BrentwoodA127 Wycombe A406 A12

M25 M40 A40 A13 LONDON Slough M4 A13 A2 Tilbury Grain Heathrow Richmond A205 Bracknell A316 COOMBE HILL HOUSE NEW MALDEN A20 Staines Kingston M3 upon Thames A3 Chatham SITUATION A23 M20 The property is located adjacent to the More comprehensive retail and leisure Woking » » A3 Kingston by-pass at its junction with offering in nearby Raynes Park and New M26 the A238 Coombe Lane, between New Malden which are both easily accessible M25 Malden and Raynes Park by foot or bus Farnham Maidstone » The site lies between Raynes Park to the » Wimbledon Town Centre is located 1.9 M25 east, New Malden to the west and the miles to the east and offers an extensive A3 Sevenoaks green open spaces of Wimbledon Golf range of amenities including the Centre Club and Common to the north Court shopping centre, Elys department Ashford store and Odeon cinema A24 M23 » Convenient selection of independent Redhill A22 retailers and Simply Fresh supermarket A229 along Coombe Lane

Gatwick

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 5 Raynes Park Wimbledon Earlsfield Junction London Waterloo

3 minutes 7 minutes 11 minutes 16 minutes 21 minutes

Source: National Rail

CONNECTIVITY Central London (10 miles) Wimbledon Coombe Hill House benefits from good Park connectivity and transport links: Richmond Common A3

» The A3 is south-west London’s main

arterial route linking central London to l l i K H i the motorway network, via junction 10 of n n o g t s s t Royal Wimbledon the M25 at Wisley g o in n

B Golf Club K y

p a Wimbledon Raynes Park and New Malden national » s Coombe Hill s

8 rail stations are located less than 1 mile 0 Golf Club

3

A

to the east and south of Coombe Hill

House respectively, with direct services Wimbledon

t s

e to London Waterloo

COOMBE HILL HOUSE W d

Kingston e a n o a e L R b om e upon Thames Co l C p Public transport connections include o r » om o be W La numerous bus routes which pass the n Raynes e

property including: Malden Park Golf Club South Merton

• 265 – Tolworth (19 minutes) to K in New gs Bridge (33 minutes) to n Malden Ro ad • 57 – Kingston (16 minutes) to South Morden Wimbledon (16 minutes) A3

» New Malden provides excellent connectivity to major international airports Heathrow (10 miles) and Gatwick (20 miles)

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 6 DESCRIPTION

Coombe Hill House is a detached office building of steel portal frame construction arranged over ground and three upper floors built in 1980.

» The property has excellent alternative use redevelopment / office refurbishment potential subject to the necessary consents

» The main vehicular access to the site is from Beverley Court and there is also a one way vehicular exit from the rear of the building onto the A3

» There are a total of 78 car parking spaces and 48 of these spaces are accommodated in undercroft parking at ground floor level. Car parking ratio of 1:709 sq ft

» The building extends to approximately 5,134 sq m (55,266 sq ft) GIA, including undercroft parking

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 7 TENURE

The property is Freehold registered with title absolute under Title Number TGL33206. The site extending to 0.75 acres (0.30 hectares). The Electrical Transformer Chamber on the ground floor is leased to EDF Energy Plc for a term of 99 years from 30 May 1991 at a rent of £0.05 (if demanded). The lease A3 is inside the 1954 Act and there is a rolling Landlord break exercisable on 12 months’ written notice from the Landlord in the event that the Landlord wishes to redevelop the property.

NOTE:- Reproduced from the Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100024244 Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed. Outline for indicative purposes only.

Ordnance Survey © Crown Copyright 2019. All Rights Reserved. Licence number 100022432 COOMBE HILL HOUSEPlotted Scale| BEVERLEY - 1:1250. Paper Size - A4 WAY | NEW MALDEN | SW20 0AR 8 EXISTING ACCOMMODATION TOWN PLANNING

The existing building provides the following approximate areas. » The property falls within the jurisdiction of the Royal Borough of Kingston upon Floor GIA (sq m) GIA (sq ft) Thames Ground (Lobby, stairs & circulation) 168 1,809 » The building is not statutorily listed and does not fall within a conservation area Ground (Parking, plant, refuse & cycle storage) 1,148 12,356 » The existing use of the property falls First floor (inc. communal areas) 1,291 13,896 under Use Class E(g)(i) of the Town & Country Planning (Use Classes) Second floor (inc. communal areas) 1,291 13,893 Order 1987 (as amended). Prior to 1st Third floor (inc. communal areas) 1,237 13,312 September 2020 the lawful use of the building was B1(a) offices. Total 5,134 55,266 RESIDENTIAL DEVELOPMENT POTENTIAL

On 15th April 2020, prior approval (Ref: 20/00233/PAO2R) was granted for: “Change of use from Class B1a (Office) to Class C3 (Residential) to provide 69 No. dwellings” The scheme provides a total of 78 car parking spaces and 72 cycle spaces. The proposed development will not be liable for any CIL, Section 106 contributions or affordable housing. A summary of the proposed schedule of accommodation is set out below:

Floor Units NSA (sq m) NSA (sq ft) 1 24 907 9,757 2 24 907 9,757 3 21 860 9,255 Total 69 2,673 28,770

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 9 PROPOSED Ground Floor First Floor FLOOR PLANS

TOTAL UNITS 69 35 STUDIOS AND 34 STUDIO SUITES

TOTAL GIA 5,134 SQ M

(55,266 SQ FT) Second Floor Third Floor

TOTAL NSA 2,673 SQ M (28,770 SQ FT)

Studio Small Studio Bike Store Refuse Store Storage / Communal Space

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 10 FURTHER DEVELOPMENT POTENTIAL Ground Floor

» There is potential to convert part of the undercroft car park at ground floor level to residential and to add another storey to the building, subject to obtaining the necessary consents.

» The proposed scheme designed by MAA Architects provides for a further 18 residential flats and a summary of the schedule of accommodation is set out below.

Floor Units NSA (sq m) NSA (sq ft) G 9 399 4,298 1 24 906 9,752 2 24 906 9,752 Fourth Floor 3 21 859 9,249 4 9 538 5,791 Total 87 3,609 38,843

Floor GIA (sq m) GIA (sq ft) Ground (Lobby, stairs & circulation) 669 7,204 Ground (Parking, plant, refuse & cycle storage) 646 6,956 First floor (inc. communal areas) 1,291 13,896 Second floor (inc. communal areas) 1,291 13,893 Third floor (inc. communal areas) 1,237 13,312 2 Bed 3/P Bike Store Fourth floor (inc. communal areas) 811 8,730 1 Bed 2/P Refuse Store Total 5,945 61,057 Studio Storage / Communal Space

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 11 SOUTH WEST LONDON OFFICE MARKET Prime Rental Growth Forecast South West London

The South West London office market comprises , £60.50 Chiswick, Croydon, Richmond, , Putney, Wimbledon, Kingston and New Malden. It is a well-established office market which £60.00 achieves the highest rents outside of central London. The market has £59.50 strong transport links both into and out of Central London, and rents are at a discount to Central London, demonstrating its appeal to occupiers. £59.00 The affluent resident population in South West London provides a strong labour pool meaning occupiers can attract and retain staff. Rents in this £58.50 market have risen considerably within recent years, with all-time record rents being achieved in Hammersmith and Richmond during 2019 and £58.00 2020, this rental growth has been driven by a chronic lack of Grade A supply and new development. £57.50 2016 2017 2018 2019 2020 Supply in the market decreased year on year from 2011-2018. At present there is 1.69 million sq ft available in the South West London market and South West London Rent Map approximately 890,000 sq ft (53%) of this supply is Grade A. 21% of the Grade A supply is made up by one building, 245 Hammersmith Road, where 189,673 sq ft is currently available. M4 Hammersmith Vauxhall £62.50 Conversion of office space to residential via permitted development Chiswick £55.00 rights has resulted in a substantial loss of Grade B and C stock in South £55.00

ROYAL BOTANIC West London which is a highly attractive residential market. In addition, GARDENS, there has been limited new development in the South West London Putney £45.00 market resulting in severe supply constraints. This lack of development Richmond has resulted in significant rental growth, for example Chiswick rents £50.00 have risen by 53% from £36.00 psf in 2007 to £55.00 psf as at today. RICHMOND GARDENS PARK Similarly Croydon rents have increased by 48% since 2009. Twickenham WIMBLEDON £32.50 WIMBLEDON PARK In the New Malden and Kingston office market supply stands at 132,000 COMMON

sq ft of which there is no Grade A stock. There is currently one building Wimbledon BUSHY £54.00 being comprehensively refurbished in Kingston, called The Smith, which PARK New Malden comprises 39,000 sq ft. There are no other buildings under construction Kingston £29.00 £37.50 and this is largely due to the shortage of available sites. HAMPTON Croydon COURT PARK £34.00

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 12 METHOD OF SALE TAXATION CONTACTS

The property is to be sold by way of The property is elected for VAT. Development Land UK Investment Informal tender (unless sold prior). A deadline for offers will be provided in due Any VAT payable on the transaction will be Andrew Cox Tom Subba Row course. the sole responsibility of the buyer, and [email protected] [email protected] offers should be made net of any such 020 7016 3851 020 7409 8740 cost. Eleanor Heath Mark Porter SERVICES [email protected] [email protected] 020 3320 8211 020 7409 9944 The property is connected to mains water, VIEWINGS drainage, gas and electricity services, although these have not been tested. It The property may be inspected strictly by will be the responsibility of the purchaser appointment only through the Vendor’s to determine whether the current supplies sole selling agents, Savills. are adequate for their proposed use of the property following purchase. FURTHER INFORMATION EPC A dedicated project dataroom has been set up and interested parties are able to access The property has an EPC rating of D. further information at The full EPC report is available in the www.savills.com/coombehillhouse dataroom.

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 Commercial Marketing: 020 7499 8644 September 2020

COOMBE HILL HOUSE | BEVERLEY WAY | NEW MALDEN | SW20 0AR 13