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Sovereign Gate, 18-20 Kew Road TW9

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Sovereign Gate, 18-20 Kew Road TW9 i Sovereign Gate, 18-20 Kew Road TW9 Residential and office development opportunity 1 The opportunity. Sovereign Gate provides an excellent opportunity to create an attractive and well-positioned office development or a unique residential scheme within the riverside town of Richmond. • Sovereign Gate is well located within Richmond town centre • Richmond offers an exclusive mix of urban and rural qualities to attract prospective office and residential occupiers • The site benefits from excellent transport links with Richmond train station located less than 0.1 mile to the south west • The property comprises a 1980’s five storey office building with commercial space arranged over lower ground, ground and three upper floors. The existing accommodation extends to approximately 2,075 sq m / 22,331 sq ft (net internal area) • The site measures approximately 0.207 acres (0.084 hectares) • The property is available with vacant possession • Unconditional offers are being sought for the freehold interest 1 Local area. Connectivity. Sovereign Gate is located Kew Road continues south into The Richmond provides a vast array of open Richmond Gate is situated on Kew Road. It is less than a 2 in the centre of Richmond, Quadrant and George Street which spaces including Richmond Park – minute walk from Richmond station, and a 5 minute walk situated on a prominent provides the main retail and leisure which, at 2,360 acres, represents nearly from the town centre which provides high street retailers, corner position on Kew Road offering within Richmond. half of the total area of London’s Royal restaurants and bars and Church Road. Parks – Richmond Green, Old Deer Park The streets are home to a mix of high-end and the Royal Botanic Gardens in Kew. Richmond is a desirable suburban independent and multinational retailers. Richmond also offers a diverse range location and an affluent residential Richmond also has an impressive offering of sports facilities including Richmond district bordering the River Thames. of eating and drinking establishments Athletic Ground and a variety of The site is located to the north of leading from Richmond train station galleries, art centres and cinemas. Richmond train station on Kew Road. towards Bridge Street. Hammersmith Clapham Junction M4 14 mins 8 mins 10 mins Earls Court Kingston upon Thames M3 19 mins 17 mins 12 mins London Victoria London Waterloo Hammersmith 29 mins 19 mins 15 mins London Westminster Wimbledon M25 5 31 mins 4 25 mins 17 mins Wimbledon Heathrow Airport Heathrow Airport 1 40 mins 65 mins 24 mins 15 Oxford Circus 2 37 mins Source: Google maps and The Trainline.com 6 3 7 14 12 13 11 9 8 10 1 Sovereign Gate 6 Southbank University 11 eBay 2 Richmond Train Station 7 House of Fraser 12 Paypal 3 Richmond Green 8 Richmond Riverboat Pier 13 Gumtree 4 Old Deer Park 9 Richmond Bridge 14 British American Tobacco 5 Richmond Athletic Park 10 Richmond Park 15 Not On The High Street 2 3 Description. Accommodation. Schedule of areas Gross Internal Area Net Internal Area Floor Use Area (sq m) Area (sq ft) Area (sq m) Area (sq ft) Basement Office 595 6,406 392 4,217 Ground Office 558 6,001 482 5,189 First Office 559 6,013 437 4,703 Second Office 548 5,894 427 4,598 Third Office 438 4,711 337 3,623 Total 2,698 29,025 2,075 22,331 Note: sq m rounded to, two decimal places. sq ft rounded to the nearest foot. Indicative floorplan ad North eastern elevation of building Twickenham Ro Recreation Site Existing building The property is of brick construction and is a five storey 1980’s Commercial office building arranged over five floors including a basement, 34 23 21 t Commercial ground floor and three upper floors. The site is boundedo by a brick h s k 28 wall and metal gates sitting adjacent to a church. r Commercial 19 a P 17 26 s en 15 iz it u C a C d re 22 n u l o B a m h ce 13 r ic vi d e R d The property was last refurbished in 2011 and previously n A a ce Ro S 11 s tre n' e oh 6 operated as a police front counter to the public with training and t 9 J St 7 office facilities elsewhere. The property is fitted out to an office C la re 5 n c specification with internal partitioning, suspended ceilings and e 3 S tr Planning e perimeter trunking throughout. The property is now vacant and has e 1 t been decommissioned. The nature of occupation demonstrates a lawful use of the site as a combination28 of B1 (offices), D1 (training centre) and sui generis floor 20 32a space. 2 Legal title & tenure C ad h Ro u 4 d rc 32 el h kfi R ar The property is held freehold. The property is sold subject to and/ d o TheL property is not listed. It lies within the Richmond Central a a o d R w or with the benefit of any rights of way, easements or restrictions, e Conservation Area and adjacent to the Grade II listed St John’s K 59 which may exist, whether or not mentioned in these particulars. Church. 1 Areas Offices 19 10 Sovereign Gate occupies a site measuring approximately 0.207 2 Offices acres (0.084 hectares). Offices 23 25 1 0m 10m 20m 30m Railway Indicative red line boundary © UKMap Copyright The GeoInformation Group 2018 Licence No. LANDMLON100003121118. Plotted Scale - 1:1250 4 5 This map was created with Promap Residential market Office market overview. overview. Richmond is an established Sovereign Gate represents an excellent Richmond forms part of the South use through Permitted Development and popular South-west opportunity to create a residential-led West and West London office market, Rights. Supply side pressures, coupled London residential market development located in one of London’s incorporating Hammersmith, Chiswick, with steady occupier demand has offering a riverside location most affluent suburban boroughs. Twickenham, Putney, Kingston and resulted in rental growth with record with excellent retail and Wimbledon as key office centres. rents being achieved across the sub- leisure amenities and Residential development in Richmond market (Wimbledon - £54.00 psf, Putney exceptional accessibility by is limited due to the large proportion of It is a well-established office market - £47.50 psf, Hammersmith - £59.50 psf road and rail. green space to brownfield sites in the and consistently achieves some of the and Richmond at £49.50 psf). borough and therefore the scope for highest rents and capital values outside Richmond is particularly popular residential conversion is unique. of Central London. Office development opportunities in amongst young families moving out of Richmond are limited, with the next central London in search of a country The redevelopment of Sovereign Gate This part of London has seen a pipeline scheme (the former magistrate’s village feel, but who still wish to be within has the potential to deliver a new flatted diminishing supply of office space, court) forward sold to William Grant & close proximity to central London. development within the town centre. mainly due to on-going conversion of Sons for owner occupation. office accommodation to residential The area also prides itself on its reputable schools, sports & leisure and cultural attractions. Richmond availability Address Area (sq ft) Quoting rent (per sq ft) 63 Kew Road 13,749 £47.00 Eton House 8/24 Paradise Road 16,340 £48.50 Shearwater House 21 The Green 7,216 £50.00 Richmond vacant possession sales Address Tenant Area (sq ft) Date Sale price Capital value (per sq ft) Former Magistrates William Grant & 37,000 June 2018 £23.00m £622.00 Court, Richmond Sons International 60 Marina Place HI Spirits 15,594 December 2017 Confidential Hampton Wick 1 Parkshot, Richmond Aviva 12,440 September 2015 £9.00m £724.00 37/39 Kew Foot Road, Namco Namco December 2014 £10.90m £602.25 Richmond Richmond lettings Address Tenant Date Area (sq ft) Rent (per sq ft) Shearwater House, 21 The Green Northlander Commodity Advisors April 2018 2,824 £49.50 Richmond Brewery Stores TRO Group Ltd January 2018 6,919 £46.25 18 Petersham Road 1 Parkshot, Richmond PK Group June 2017 6,339 £47.50 1 Parkshot, Richmond Ri Retail June 2017 6,101 £42.50 Property prices in Richmond Achieved prices, 12 months to December 2017 Circles can denote multiple sales in the same postcode, in which case the highest value is displayed. 6 7 Further information. Contact. Inspection Please get in touch to discuss this opportunity. The property may be inspected by prior appointment through the Vendor’s sole selling agents, Knight Frank LLP. Prospective purchasers should be aware that inspections are made entirely at their own risk and no liability is accepted by the vendor or their agent. Residential Development Method of sale Nick Alderman Sovereign Gate is being offered for sale by informal tender. [email protected] Unconditional offers are sought for the freehold interest of the site. +44 7786 856 173 VAT Sarah Moran The property is not elected for VAT. [email protected] +44 20 3866 7872 Forward sale clawback The sale contract will include a “forward sale clawback” awarding Oliver Holland 50% of any uplift to be paid to the Metropolitan Police Service if [email protected] the site as a whole or in parts (but not any individual units) is sold +44 20 7861 5142 within 5 years without planning permission. If the site is sold on with planning permission then the clawback will be 50% of the uplift in Office Agency the site value at the date of the sale discounting any increase in value due to the planning permission or capital improvement to Jack Riley the property.
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