133 Deptford High Street, London Se8 4Ns Hotel Development Opportunity Executive Summary
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133 DEPTFORD HIGH STREET, LONDON SE8 4NS HOTEL DEVELOPMENT OPPORTUNITY EXECUTIVE SUMMARY Colliers International and The Shard Goldenberg Real Estate have London Bridge London Eye great pleasure in offering this The City prominent freehold Deptford Shoreditch centre site with planning Deptford Deptford Tower Bridge Hotel Site permission for a select service Convoys Wharf hotel of 70 letting rooms. Deptford Park The hotel development is part of an extensive regeneration of Deptford centre and the area around Deptford mainline station. This represents a rare opportunity to acquire a site for hotel development within a key London location only minutes from London Bridge station. When completed the Laban Centre hotel will overlook the new cobbled piazza of Deptford Market Yard, a Deptford Market Yard central attraction surrounded by under arch, artisan retail outlets and two restaurants, the whole providing an attractive centre to Deptford. Situated on the corner of Deptford High Street and the railway station forecourt, the hotel site is exceptionally well located for quick mainline access to Central London destinations with local access east to Greenwich and the O2 Arena. High quality development continues to spread east from London Bridge and west from Greenwich, and Deptford now offers a vibrant leisure and work environment. The London hotel market remains one of the strongest in Europe and London the prime target for property investors globally. With limited supply Greenwich and restricted pipeline the Deptford hotel represents a very rare chance to acquire and establish a presence in this fast developing market. www.colliers.com www.goldenberg.co.uk LOCATION Mudchute Park Canary Wharf North Greenwich London City Airport O2 Arena Excel Centre Mudchute Island Gardens Cutty Sark Convoys Wharf Laban Centre Greenwich Deptford Deptford Market Yard Lewisham Southwark College Deptford Hotel Site Deptford Bridge New Cross www.colliers.com www.goldenberg.co.uk Economic Outlook and Hotel Market Commentary Local Market London is one of the world’s leading destinations Deptford’s easy access to central London has with demand from both leisure and business become increasingly relevant and the location is sectors driving rate for hotel accommodation to a already accepted by key residential developers and consistently high level. ultimately hotel operators as offering a vibrant local economy and growing local business. An increasing Supporting growth in the London short and realisation amongst visitors that the West End of medium stay market, the UK economy is currently London (‘Bond Street / Mayfair and the Covent considered one of the most stable with real Garden / West End theatre districts’) is only a short GDP growth forecasted by the Office for Budget distance away means that Greenwich and Deptford Responsibility to be 1.4% in 2017. London is seen are now becoming accepted as a tourist destinations both as the driving force behind UK economic in their own right, consequently strengthening hotel growth and as representing great resilience when business and extending trade to a 7 day model. compared to other leading global cities, being effected only to a limited extent by the world The Deptford hotel will be positioned at the forefront economic downturn. of the select service market in the area. As a new build product completed to a high specification Research by the International Passenger Survey we expect the business to achieve premium rates, of the ONS detailed that a record 17.4 million when compared to the competitor set. overnight visits were made to London by overseas residents in 2014, an increase of 0.6 million (3.5%) from 2013, with £11.8 billion spent on these visits. London: Hotel Trading Performance 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Occupancy 80.6% 79.2% 80.4% 82.1% 82.3% 80.6% 82.4% 83.0% 82.1% 81.3% ADR (£) 116.80 122.13 115.87 127.02 134.59 138.94 137.90 140.43 143.43 143.44 RevPAR (£) 94.12 96.74 93.11 104.31 110.80 111.93 113.63 116.49 117.72 116.68 RevPAR Growth 11.6% 2.8% -3.8% 12.0% 6.2% 1.0% 1.5% 3.3% 1.5% -0.9% Source: STR Global www.colliers.com www.goldenberg.co.uk Billingsgate Market Canary Wharf O2 Arena LOCATION Deptford Strategically located the hotel faces onto the newly landscaped square The location is expected to improve further, both as a commercial and The O2 Arena, recently named as the busiest music venue in the world, and the mainline station, an area undergoing a transformation that will leisure hub and this is reflected in recent success in domestic and overseas for the 3rd year running and which sold over 2.3m tickets last year, is a result in a thriving town centre with cobbled pedestrian areas flanked by sales of surrounding developments. The historical centre of Royal Maritime further driver into the local tourist economy. The residential sector is also under arch artisan businesses. Fast becoming a key south east London Greenwich is a short walk away, with an array of major tourist attractions facing considerable uplift, driven mainly by the New Capital Quay (1,000 location Deptford benefits from both growing employment and smart new on offer, including the UNESCO World Heritage site of the Old Royal Naval units) and forthcoming Convoys Wharf which are both located close developments, including the Cathedral group’s Deptford Project. College,Old Spitalfieldsthe Maritime Market Museum and the Cutty Sark. 9 million people visit by. Convoys Wharf is one of Londons foremost development schemes the Maritime Greenwich UNESCO World Heritage site annually. covering 40 acres and comprising c. 4,511,150 sq ft (419,100 sq m) of offioce, cafe, restaurant, retail and hotel as well as c. 3,500 new homes. WAY HAM NEW EA ST INDIA ISLAND GARDENS DOCK ROAD Excel Centre Tower of London Old Naval College O2 Arena Convoys Wharf Canary Wharf Cutty Sark Tower Bridge 06 A2 Greenwich Pier MAZE HILL A200 CUTTY SARK National Martime Museum 2 8 M A Greenwich Market Z E H A 1 7 Old Royal Observatory IL 0 6 L 2 DEPTFORD 3 GREENWICH Greenwich Park 4 Key Developments 4 5 NEW CROSS 10 06 1 1 Convoys Wharf (M) A2 TH E 2 Canada Water (M) NEW AV CROS 3 E S ROA NU Cutty Sark 3 Marine Wharf (M) D E A NEW CROSS GATE 2 1 Y 0 A 2 DEPTFORD BRIDGE Hotels Competitive Set N W 8 9 4 Plough Way (R) TO B RL LA A N 1 C CH E 5 Cathedral Group (R) KH 1 Travelodge Hotel Greenwich W E CR D ATH HILL O A SS 6 The Quarter (M) O 2 Hotel Mercure Greenwich R R OA D Royal Observatory R A 7 Kender Triangle (R) L 3 Premier Inn Greenwich U 5 C T R E I C E 8 Surrey Canal Road (M) R 4 Stay City H T T S Greenwich Park U H 9 Neptune Works (M) O 5 Travelodge Hotel Greenwich 6 S IG H AM ROAD 7 A2 D PECKH 10 Cannon Wharf (M) R 6 Novotel Hotel Greenwich H HILL KHEAT FO BLAC T 7 Ibis Hotel Greenwich P Goldsmiths University A2 M Mixed Use DE ST JOHN’S L R Residential 8 Davenport House E W IS H A M W AY BROCKLEY www.colliers.com www.goldenberg.co.uk LOCATION Accessibility Public transport facilities in the area are good with regular mainline train services (Zone 2) into London Bridge and Cannon Street stations providing direct access to both the city and to underground services including the Jubilee Line, linking Canary Wharf with the West End. London City Deptford Bridge Dockland Light Railway (DLR) station is 600m to the south east, linking to Canary Wharf in approximately 15 minutes. The Luton closest airport is City Airport 6 km to the north east. Canary Wharf Other transport options include the Thames Clipper service, offering a n Line popular alternative route into Central London. There are also a number cle Line of buses serving the local area. Cir District Line JubileeNorther Line Road communications to the area are comprehensive and are provided Cannon Street London Bridge Deptford Greenwich mainly by the A2, the A20 and the A102M, offering routes through the Rotherhithe and Blackwall Tunnels and Tower Bridge offers links to the City. European channel tunnel links via Dover or Folkestone are within 1 hour either by rail or road. Gatwick From (Station) To (Station) Time (mins) Deptford London Bridge 5 Deptford Cannon Street 10 Deptford Canary Wharf 2 Deptford London City Airport 26 London Bridge Gatwick Airport 28 London Bridge Luton Airport Parkway 53 Greenwich Canary Wharf 15 Greenwich London City Airport 24 www.colliers.com www.goldenberg.co.uk LOCATION Deptford Market Yard Deptfor d Station Current regeneration oup Scheme (Residential) Scheme oup Laban Centre, Nearby 1:1250 Cathedral Gr Cathedral Deptford Lounge and Library Albany Centre Recent regeneration © Crown Copyright 2015. Licence no 100022432. © Crown Hotel - site view looking south west www.colliers.com www.goldenberg.co.uk Proposed Roof Plan Deptford Market Yard Proposed Basement Plan Proposed 1st Floor Plan Proposed 2nd - 4th Floor Plan Proposed 5th Floor Plan Proposed Ground Floor Plan www.colliers.com www.goldenberg.co.uk OVERVIEW Completed: Overall scheme All rooms are double or twin with en-suite, the Upon completion the development will include a select majority overlooking the church or piazza with only service hotel with accommodation arranged over 6 rooms arranged in the basement. basement, ground and 5 upper floors to include 70 en-suite letting rooms, with air conditioning throughout.