5-6 WATERWORKS ROAD BRIXTON SW2 1SE
Mixed-Use Development Opportunity For Sale EXECUTIVE SUMMARY
• Freehold development opportunity with planning permission in place for a new mixed-use scheme
• Site measures 0.113 hectares (0.3 acres)
• Property is well located in the thriving Brixton area, and is just 0.8 miles from Brixton station that provides Victoria line underground services
• Planning permission granted for the demolition of the existing buildings and erection of a 5-storey building with basement to provide 2,043sqm (21,860sqft) GIA of B1 office accommodation at basement, ground and first floor levels plus 20 residential units (Use Class C3) within the upper floors
• The residential element of the scheme will comprise 20 private apartments (8 x 1 beds / 8 x 2 beds / 4 x 3 beds). The total residential NSA will be 1,356sqm (14,682sqft) with accommodation to be sold entirely for private sale 5-6 WATERWORKS ROAD, BRIXTON SW2 1SE
• Vacant possession to be offered on practical completion
• Offers are invited in excess of £6,000,000 for the freehold interest with the benefit of full planning permission, the vendor will also consider offers on the basis that the commercial space is handed back in shell and core condition CGI OF PROPOSED DEVELOPMENT 01 EXISTING SITE/AERIAL measures 0.113hectares (0.3 acres). via Waterworks Road,however isviaarightofway across theadjacentATS site.Thesite space). Accesstono.5Waterworks Roadisdirectly from Waterworks Road.Accesstono.6is also totalling 1,085.7sqm(11,686 sqft).Theseunitsbenefitfrom B1/B8(lightindustrial/warehouse The existingsitecurrently comprisestwo lightindustrialunitsofoneandtwo storeys is anoff-shootroad from BrixtonHill(A23)whichleads directly toBrixtonunderground station. The siteislocatedonWaterworks Road,withinthe London Borough ofLambeth.Waterworks Road
INTERNAL VIEW OFNO.6WATERWORKS ROAD 02 5-6 WATERWORKS ROAD, BRIXTON SW2 1SE CLAPHAM HIGHSTREET Lines are within15-minute walknorthalong Brixton Hill. and commercial. BothBrixtonSuburbanRailStation &Victoria The localarea consists ofamixusesincludingbothresidential the CityofLondonand7.9 km(4.9miles)southoftheWest End. commuter locationapproximately 7.6km(4.7miles)southwest of connecting BrixtonandStreatham Hill.Brixtonisapopular that adjoinsBrixtonHill(A23).isanarterialroad The siteislocatedalongWaterworks Road whichisaprivate road LOCATION RESTAURANT THE CLINK SAINSBURYS
ACRE LANE THE BLUES BRIXTON KITCHEN
LOCAL 5-6 WATERWORKSROAD BRIXTON O2 ACADEMY STIR COFFEE BRIXTON HILL ELECTRIC BRIXTON BRIXTON MARKET BRIXTON
BRIXTON ROAD BRIXTON
POP DULWICH ROAD DULWICH
VILLAGE BRIXTON RAILTON ROAD RAILTON BREWERY BRIXTON LOUGHBOROUGH HERNE HILL JUNCTION iconic gigswithin walkingdistanceofthe subjectsite. (O2) andBrixtonElectric offer localstheopportunitytosee providing avariety ofplacestoeatanddrink.BrixtonAcademy The pure variety ofofferings includethehipster BrixtonVillage regeneration makingitahighlydesirableplacetolive andwork. world-renowned night life, thiscoupled withtheongoing areas. Thisbuzzhasstemmed from itsartisticheritageand Brixton hasbecomeoneofLondon’smosteclecticand happening 03 5-6 WATERWORKS ROAD, BRIXTON SW2 1SE PLANNING &CONSENTEDSCHEME ground andfirstfloorlevels. space comprising1,798sqm(19,353sqft)NIAdelivered over basement, 1,356 sqm(14,682sqft)NSAaswell asnewself-containedB1office residential units(8xonebeds,8two bedsand4xthree beds)comprising Peter Davy Smitharchitects. Theschemeprovides amixof20private The consentedschemehasbeendesignedby thewell-established stores, plus amenityspaceatground and4thfloorlevels.” Class C3)atupperfloors, togetherwithprovision ofrefuse andcycle at basement,ground andfirst floorlevels plus20residential units(Use building withbasementtoprovide 2,043sqmofB1officeaccommodation “…the demolitionoftheexistingbuildingsanderection ofa5-storey from LambethcouncilinOctober2019underreference 18/00456/FULfor; Conservation Area. Thesiteobtainedfullplanningpermissionatappeal The siteisnotlisted,butdoesfallwithintheRushCommon&Brixton CGI VIEWLOOKING WESTFROM JEBBAVENUE
CGI OFPROPOSED COMMERCIAL&RESIDENTIAL ENTRANCESFROM WATERWORKS ROAD www.waterworksroadbrixton.co.uk fulldetailsoftheS106; accesstoourdataroom thatsupplies • Pleaseclickthelinkbelow, providing andLambeth)totals£156,497 • CILpayment (estimateincludingMayoral • S106costsare estimatedto£127,891 and consistsofthefollowing obligations: A S106agreement hasnow beenagreed SECTION 106&CIL
04 5-6 WATERWORKS ROAD, BRIXTON SW2 1SE ACCOMMODATION SCHEDULE
UNIT TYPE NIA
FLOOR 1B/2P 2B/3P 2B/4P 3B/5P SQ M SQ FT
4TH 2 0 2 0 260 2,798
3RD 3 0 3 2 552 5,941
2ND 3 3 0 2 552 5,941
1ST ---- 710 7,642
GROUND - - - - 510 5,490
BASEMENT ---- 578 6,222
RESIDENTIAL 5-6 WATERWORKS ROAD, BRIXTON SW2 1SE TOTAL 8 3 5 4 1,364 14,682 PROPOSED BUILDING ELEVATION COMMERCIAL RESIDENTIAL TOTAL ---- 1,798 19,353 COMMERCIAL
05 COMMERCIAL FLOOR PLANS RESIDENTIAL FLOOR PLANS
PROPOSED FIRST PROPOSED SECOND SQM SQM DW 7 8 BALCONY BALCONY L/K/D FLOOR PLAN FLOOR PLAN 29sqm DW RB L/K/D 7,642 SQFT - 710 SQM 5,941 SQFT - 552 SQM 30sqm
RB
W F/F F/F WM
8sqm 9sqm TABLE BEDROOM
BEDROOM D BATHROOM STORE 2.2sqm
W W Lift 3 WM 0 ST. 1.0 EN sqm Service - SUITE Over run. Over 2 3B/5P 87 sqm 0 11.5sqm 2 BEDROOM 0 ST. 1.1 - sqm 2 74 sqm 0 2B/3P WHC 15sqm BEDROOM RISER
Toilets D REFUGE W 11.5sqm BEDROOM BATHROOM 12sqm
BEDROOM BATHROOM D 1 W 0 - 2 1B/2P 51 sqm 12sqm 0 BEDROOM BATHROOM ST. 0.6 sqm
ST. 1.0
sqm WM 4 D 0 F/F - 2 1B/2P 50 sqm 0 ST. 0.6 sqm K/L/D 25sqm ST. 1.0 sqm WM INDICATIVE F/F
KITCHEN POINT KITCHEN
RB DW K/L/D 24sqm SQM 5 BALCONY SQM 5
BALCONY
DW RB AOV F/F RB SQM 4 BALCONY Elec Riser Elec Riser DW Mec Riser Mec Riser L/K/D Dry Riser 28sqm Dry Riser W 12sqm WM BATHROOM BEDROOM WM 11.5sqm
BEDROOM D 5 STORE 2.5 sqm STORE 2.5 0 - STORE 1.5sqm 8 2 2B/3P 73 sqm 0 0 - 2 1B/2P 50 sqm 0 INDICATIVE DIVISION OF FLOOR PLATE IN TO 6 SMALLER WORK UNITS WORK 6 SMALLER TO IN PLATE FLOOR OF DIVISION INDICATIVE F/F 13sqm BEDROOM K/L/D 24sqm SQM 4 BALCONY BATHROOM EN
SUITE SQM W 5
BALCONY
RB DW
D W
690 sqm 690
First Floor First W 11.5sqm BEDROOM
Commercial Space (B1) Space Commercial D
6 WM 0 - STORE 14sqm 2.5sqm 7 2 3B/5P 92 sqm BEDROOM 0 0 - 2 75 sqm 0 2B/3P WHC 11.5sqm
BEDROOM D W BATHROOM
BATHROOM F/F 5-6 WATERWORKS ROAD, BRIXTON SW2 1SE 8sqm BEDROOM 9sqm RB
STORE
2.0sqm
BEDROOM W D
W D WM
DW F/F L/K/D 32sqm RB DW L/K/D 27sqm Green Roof Green SQM SQM 7 8 BALCONY BALCONY
REFUGE Roof Green
06 RESIDENTIAL FLOORPLANS 5,941 SQFT-552SQM FLOOR PROPO P D SED LAN THIRD FLOOR PLANS SHOWNFORILLUSTRATIVE PURPOSES.AFULL SETOFPLANSAREAVAILABLE UPONREQUEST.
AOV
BALCONY BALCONY W 5 SQM 5 SQM W D BEDROOM K/L/D BEDROOM BALCONY 12sqm 25sqm 12sqm BEDROOM 7 SQM BEDROOM 11.5sqm 12sqm D D EN SUITE
BEDROOM K/L/D 24sqm 11.5sqm BEDROOM W W BALCONY 11.5sqm EN D 7 SQM SUITE RB RB 03-08 DW 03-01 W DW 1B/2P 1B/2P 03-02 51 sqm 50 sqm BATHROOM BATHROOM 2B/4P ST. 74 sqm 1.0 ST. L/K/D STORE 1.5sqm Dry Riser ST 1.2 sqm 28sqm 03-07 sqm 0.6 ST 2B/4P sqm 0.4 F/F WM F/F WM WM 75 sqm Mec Elec sqm Riser Riser BATHROOM L/K/D 30sqm F/F RB DW
STORE STORE WM F/F RB DW 2.5 sqm 2.2sqm BATHROOM
WM DW RB F/F F/F WM DW RB F/F WM STORE 2.5 sqm ST. 03-03 ST. 0.6 3B/5P 1.0 sqm 87 sqm sqm DW RB BATHROOM STORE 03-05 BATHROOM 2.5sqm L/K/D BATHROOM 2B/4P 28sqm 03-04 73 sqm
1B/2P TABLE
BATHROOM DW EN 50 sqm SUITE RB WM F/F L/K/D W W 32sqm 03-06 EN SUITE 3B/5P BEDROOM 92 sqm K/L/D L/K/D 8sqm 30sqm
24sqm D
BEDROOM BALCONY BEDROOM BEDROOM BEDROOM BEDROOM 8 SQM W W 13sqm 11.5sqm 12sqm 11.5sqm 11.5sqm
BEDROOM BALCONY BALCONY W D 8sqm D 4 SQM 5 SQM
BALCONY BEDROOM 8 SQM BEDROOM 11.5sqm 11.5sqm
BALCONY W
D 4 SQM 2,798 SQFT-260SQM FLOOR PROP OSED P LAN FOURTH
TERRACE 14 SQM
TERRACE
D 56 SQM D
BEDROOM EN BATHROOM BEDROOM 12.5sqm SUITE 13sqm L/K/D W BEDROOM 28sqm
12.5sqm W K/L/D ST WM ST TERRACE 24sqm 0.9 sqm 0.7 sqm 9 SQM STORE 04-04 1.5sqm Dry Riser 04-01 1B/2P 2B/4P DW RB F/F 53 sqm 77 sqm WM Mec Elec W D Riser Riser
Amenity Space 175 sq m F/F RB DW (incorporating children's
playspace) F/F RB DW
DW RB F/F W D
04-03 WM 04-02 1B/2P 2B/4P 53 sqm STORE 77 sqm 1.5sqm K/L/D ST ST 24sqm 0.9 sqm WM 0.7 sqm
BEDROOM W 12.5sqm L/K/D W 28sqm BEDROOM 13sqm BEDROOM EN 12.5sqm SUITE BATHROOM D
D TERRACE 53 SQM
TERRACE 29 SQM 07 5-6 WATERWORKS ROAD, BRIXTON SW2 1SE soldat£848psf within thedevelopment. Acontemporary schemeoffering 6high-qualityapartments. Flatshave MykaPlace, DalbergRoadSW2 andleisure space. Consentedschemeproposing 300newhomeswithqualitycommercial IglooRegeneration,Somerleyton RoadSW9 apartmentswithintheschemeare for sale withDextersat£813psf. Astylishdevelopment by Network Homescomprising96-units. Private BRXBrixton,Stockwell RoadSW9 withpricesstartingat£732psf. permitteddevelopment (74-units).Unitswere offered for saleinQ12019 Anotherdevelopment by Museoffering artdecoinspired apartmentsunder Ivor House,Acre LaneSW2 beingmarketed by JLLwithpricesinregion of£833psf. MuseDevelopments schemedelivering 46apartments.Unitscurrently Brook House,BrixtonHillSW2 RESIDENTIAL LEDSCHEMES 4 2 5 3 1 https://love.lambeth.gov.uk/neighbourhoods/brixton/ improvement can befound atthelinkbelow; new highsin2016excess of£850psf.Furtherinformation onthearea andthecouncil’splansfor that dateto2019.Withadesirablemixofperiodhousingandtrendy newdevelopments, pricesreached Residential priceshave grown exponentiallysince2009,witha90%increase inhousepriceaverages from further enrichedanalready world-renowned culturalheritage. to gentrifythearea. Thisspendoninnovative commercial projects like PopBrixtonand BrixtonVillagehas Investment intheBrixtonmarket hassoared inrecent years, withLambethcouncilspendingc.£350million residents andvisitorsfrequenting thearea. (2.7 milesaway). LondonUnderground (VictoriaLine)andBrixtonRailStationprovide regular servicesfor from bothacommercial andresidential perspective duetoitsexcellent transportlinkstoCentralLondon The siteislocatedonthesouthernsegmentofBrixtonmarket. Brixtonhasbecomeincreasingly desirable MARKET COMMENTARY 65,000sqftand provides a rangeofworkspaces for entrepreneurs. workspace inBrixton.The12-storey building extendsover InAutumn2018 3SpaceopenedLondon’slargest affordable InternationalHouse,Canterbury Crescent SW9 becomeBrixton’sculinaryandcultural hub. tomore than20newcafes, restaurants andtakeaways andhas Formerly arundown arcade, BrixtonVillagemarket isnow home BrixtonVillage,Coldharbour LaneSW9 record store. accommodationalsoincludesarooftop guestrestaurant anda acontemporarynewofficespaceextendingover 47,000sqft.The Squire &Partnerstransformed Brixton’solddepartmentstore into TheDepartmentStore, Ferndale RoadSW9 withover 18street food stalls,restaurants, barsandshops. 15,339sqftminivillageofshippingcontainersoverflowing In2015‘PopBrixton’openeditsgate.Thesitecomprisesa PopBrixton,BrixtonStationRoadSW9 COMMERCIAL LEDSCHEMES 9 8 6 7
KINGS AVENUE
BEDFORD ROAD CLAPHAM HIGHSTREET JEBB AVE JEBB
ACRE LANE
BRIXTON HILL 5-6 WATERWORKSROAD BRIXTON 1 BRIXTON 4 6
2
7 TULSE HILL TULSE 3 BRIXTON ROAD 9 COLDHARBOUR LANE 6 8 5
4 RAILTON ROAD RAILTON LOUGHBOROUGH HERNE HILL JUNCTION 08 5-6 WATERWORKS ROAD, BRIXTON SW2 1SE TENURE OS PLAN The property is held freehold under two separate title numbers which are SGL366893 & SGL443343
PROPOSAL Offers are invited in excess of £6,000,000 for the freehold interest with the benefit of full planning permission. The vendor will also consider offers on the basis that the commercial space is handed back in shell and core condition.
We understand that the property has not been elected for VAT
FURTHER INFORMATION / VIEWINGS Please contact Chris Henshall at Henshall & Partners or Anthony Dixon or Andrew Boyd at Allsop who are appointed as joint selling agents for further information. Additionally, if you would like to arrange an internal inspection of the site.
Please click here for a link to the data room: www.waterworksroadbrixton.co.uk
[email protected] [email protected] +44 (0) 777 277 5130 +44 (0) 207 344 2625
[email protected] [email protected] +44 (0) 207 299 4230 +44 (0) 207 344 2609
Important Notice Particulars: 1. These particulars are not an offer or contract, nor part of one. You should not rely on statements by Henshall & Partners or Allsop in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Neither Henshall & Partners Ltd nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT @henshallandpartners @allsopLLP position relating to the property may change without notice.
Henshall and Partners Ltd (Reg No:10712199). @HenshallandP @allsopLLP Registered Address: Onega, 112 Main Road, Sidcup DA14 6NE.
@henshall-partners @allsop-LLP Allsop Ltd Reg No. 02158801 Registered Address: 33 Wigmore Street, London W1U 1BZ