Helena House 348-352 High Street Sutton, Surrey, Sm1 1Px

HELENA HOUSE 348-352 HIGH STREET SUTTON, SURREY, SM1 1PX

FREEHOLD OFFICE INVESTMENT/DEVELOPMENT OPPORTUNITY HELENA HOUSE 348-352 HIGH STREET FREEHOLD OFFICE INVESTMENT/ SUTTON, SURREY SM1 1PX DEVELOPMENT OPPORTUNITY

SUTTON STATION

ST NICHOLAS SHOPPING CENTRE

WEST SUTTON STATION

THE ‘OLD GAS WORKS’ SOVEREIGN PLACE (THE QUARTER)

SUTTON GREEN

SUTTON COMMON Outline for indicative purposes only. HELENA HOUSE 348-352 HIGH STREET FREEHOLD OFFICE INVESTMENT/ SUTTON, SURREY SM1 1PX DEVELOPMENT OPPORTUNITY

WEST SUTTON STATION

FREEHOLD OFFICE OPPORTUNITY ■■ Currently comprises a 6 storey office building ■■ Prominently located in Sutton Town Centre ■■ Significant Development Potential STP providing 1,898 sq m (20,435 sq ft) ■■ Multiple new developments in close proximity ■■ We are instructed to seek offers in excess of £3,800,000 ■■ Vacant possession of the offices later this year ■■ Freehold (Three Million, Eight Hundred Thousand Pounds) subject to contract and exclusive of VAT ■■ 3 telephone masts on the roof with a total income ■■ Car Parking for 34 cars of £46,237 pa ■■ This equates to a capital value of £186 psf. ■■ Significant Asset Management Potential HELENA HOUSE 348-352 HIGH STREET FREEHOLD OFFICE INVESTMENT/ SUTTON, SURREY SM1 1PX DEVELOPMENT OPPORTUNITY

Sutton ommon 1 2 LOCATION A

S TAY RD The London suburb of Sutton is an affluent, popular commuter town that is T NTS ON RD ALL SAI Royston Park B located approximately 11 miles south-west of Central London, approximately E D N H

I 6 miles west of Croydon and 4 miles east of Epsom within the London IN R L L G RD L Borough of Sutton. Sutton benefits from excellent local amenities and T E C EE OL R OAKHIL

connectivity and as such, demand for residential housing by owner occupiers T L RD L

L S

IN B

H W G R

and buy to let investors is high. WOOD I U

S HIG N D

A505 Stevenage S R

Sutton boasts some of the most highly rated schools in the UK, with Sutton Dunstable RD D W Stansted

A uton I OD C Bishop’s 2 A120 O

LUTON K

Grammar School rated as ‘Outstanding’ by Ofsted. In addition, The London A418 1 Sutton United Knebworth Stortford W

A10R

A5 D Football Club L

Borough of Sutton is one of the ‘greenest’ in London, with 61 Parks and 25 L A602 I A1(M) S M1 H

A44 T N A131

N Open Access Gardens. In its entirety, the totalA34 amount of ‘green’ space totalsAylesbury TOW E A130 I

Harpenden CH B approximately 600 ha, which equates to 14% of the Borough’s land area. ETE West Sutton O Hertford LOWER RD L A40 ST S A Saint A414 M11 T S icholas

W Harlow A41 Hemel AME entre A12

OXFORD St Albans A Time Thame Hempstead Y Square A4142 S S GREYHOUND RD Shopping Chelmsford T M10RD A414 A138 A entre J21 ’ Manor A414 A420 S OA A404 Potters Bar Epping A4010 H Chesham J20 Park ATO SH J23 A J19 J25 M25 J27

M25 Watford A1 Enfield 2 High 23 M1 M11 A130 A 32 Wycombe A355 A413 A2 Billericay Sutton J28 Wickford M40 Harefield Harrow A10 A12 Brent A12 J29 Basildon A404 J16 Cross Romford Wembley Uxbridge A40 Benfleet SouthendonSea A34 Maidenhead Slough A13 M25 StanfordleHope A404(M) Southall LONDONondon J15 ity M4 Fulham READING Windsor A2 M4 Heathrow Richmond Clapham Dartford A316 ( ) Staines Gravesend Sheerness A329 M Egham Kingston A20 J2 Bracknall A23 Upon Thames Bromley Swanley J12 M3 A309 A3 Croydon A322 J3 Gillingham WaltononThames A232 Bagshot SUTTON A21 M2 M25 M20 Sandhurst M25 Sittingbourne Epsom Snodland J10 Woking A21 Biggin Hill A339 A22 J9 J5 M26 M20 BASINGSTOKE M3 Sevenoaks Fleet A331 M25 Maidstone A3 J7 A34 J8 J6 Oxted Aldershot Reigate A26 GUILDFORD Dorking Famham A21 A24 Tonbridge A303 Godalming M23 Horley Royal Staplehurst Gatwick Tunbridge Cranleigh A264 Wells A229 A31 Crawley Three Bridges A264 East Grinstead Horsham

A23 Haywards Heath HELENA HOUSE 348-352 HIGH STREET FREEHOLD OFFICE INVESTMENT/ SUTTON, SURREY SM1 1PX DEVELOPMENT OPPORTUNITY

Sutton ommon 1 2 Finchley A High Barnet Edgware S TAY RD T NTS King’s Cross ON RD ALL SAI Royston Park B E D N Euston H Highbury & I IN R L L Islington G RD L T E Bank

EE Charing C Victoria Farringdon OL R OAKHIL Heathrow Ealing Broadway Cross

T L RD L L S

E Airport

IN B

H W G R WOOD

I U Earls Court

S Whitechapel N Blackfriars HIG D

A505 Stevenage S R

Dunstable RD D W Stansted A Clapham

uton I OD Waterloo C Bishop’s 2 A120 O Junction

LUTON K

A418 1 Sutton United Knebworth Stortford W

A10R

A5 D Football Club L

L A602 I A1(M) S London M1 H Canary

A44 T N A131 Bridge Wharf N A34 Aylesbury TOW E A130 I Harpenden CH ETE B Canada West Sutton O Hertford LOWER RD Water L A40 ST S A Saint A414 M11 Richmond T S icholas

W Harlow A41 Hemel AME entre A12

OXFORD St Albans A Time

Elephant Thame Hempstead Y Square A4142 S S GREYHOUND RD & Castle Shopping Chelmsford T Key M10RD A414 A138 A entre J21 Northern Line ’ Manor A414 Norwood A420 S Mitcham OA A404 Potters Bar Epping Junction H Junction A4010 Chesham J20 Park ATO District Line Wimbledon Beckenham SH J23 A Junction J19 J25 M25 J27 National Rail West Croydon London Overground South Wimbledon East Croydon M25 Watford A1 Enfield Morden 2 Tramlink High 23 M1 M11 A130 A 232 Sutton Wycombe A355 A413 A Billericay Paris Common South Sutton J28 Wickford Brussels M40 Harefield Stations Croydon Lille Harrow A10 London Underground West A12 Sutton Brent A12 J29 Basildon New A404 J16 Cross Romford Tram Addington Wembley Sutton To Maidstone Uxbridge A40 Benfleet SouthendonSea London Overground A34 Maidenhead National Rail Slough A13 M25 StanfordleHope Epsom A404(M) Southall LONDONondon J15 ity To Dorking M4 Fulham GatwickAirport READING Windsor A2 M4 Heathrow Richmond Clapham Dartford A316 ( ) Staines Gravesend Sheerness A329 M Egham Kingston A20 J2 Bracknall A23 Upon Thames Bromley Swanley J12 M3 A309 A3 Croydon A322 J3 Gillingham CONNECTIVITY WaltononThames A232 Bagshot SUTTON A21 M2 M25 M20 Sandhurst M25 Sittingbourne Sutton is extremely well connected: Epsom Snodland J10 Woking A21 Biggin Hill A339 A22 Road J9 J5 M26 M20 BASINGSTOKE M3 Sevenoaks Fleet A331 M25 Maidstone Sutton benefits from having the A23 to the east and A24 A3 J7 A34 J8 J6 Oxted to the west of the town centre, with both providing direct Aldershot Reigate A26 GUILDFORD Dorking access to central London. Furthermore, the A217 runs Famham A21 through Sutton and leads directly to junction 8 of the M25 A24 Tonbridge A303 Godalming M23 Horley approximately 12km (7.5 miles) south. Royal Staplehurst Gatwick Tunbridge Cranleigh A264 Wells Rail A229 A31 DEMOGRAPHICS Crawley Three Bridges Southern Rail and Thameslink rail lines run directly through A264 East Grinstead • 80% of Sutton Residents aged between 16-64 are Sutton, offering routes to several prominent mainline Central Horsham economically active London Stations including London Victoria (journey time: 26 • 40% of working age residents hold a degree level qualification minutes), Farringdon (journey time: 41 minutes), St Pancras International (journey time: 46 minutes) and Wimbledon A23 Haywards • Sutton is one of the top three safest boroughs in London, Heath (journey time: 17 minutes). • 6,800+ businesses make up Sutton’s vibrant business community Air • Unemployment is very low in Sutton, at 3.9%, Sutton is very well situated in regard to airports, with London compared to the London average of 4.9% Heathrow 25.7 km (16 miles) north west, London Gatwick 26.5 km (16.5miles) south and London City Airport 27 km (17 miles) north east. HELENA HOUSE 348-352 HIGH STREET FREEHOLD OFFICE INVESTMENT/ SUTTON, SURREY SM1 1PX DEVELOPMENT OPPORTUNITY

SCHEDULE OF ACCOMMODATION AND TENANCIES The property provides the following schedule of accommodation and tenancies:

Floor Present Lease Accommodation NIA NIA Lease Terms Current Rent p.a. (sq m) (sq ft) Ground to Third Floors The Secretary of State for Communities and Local Ground Floor 219 2,357 To be offered with vacant possession £0 Government (in occupation since 1963) First Floor 345 3,713 Second Floor 345 3,713 Third Floor 345 3,713 Fourth The Secretary of State for Communities and Local Fourth Floor 345 3,713 To be offered with vacant possession £0 Government (in occupation since 1963) Fifth The Secretary of State for Communities and Local Fifth Floor 299.5 3,224 To be offered with vacant possession £0 Government (in occupation since 1963) Roof EE/H3G UK Ltd Telecommunications Site A term of years from 22.05.2023 £17,337.87 Rent review every 3rd year linked to RPI (1) Roof Vodafone Ltd Telecommunications Site 10 years expiring 25.06.03 (1) £17,336.11 Roof Telefonica O2 UK Ltd Telecommunications Site 10 years expiring 01.04.05 (1) £16,088.81 Overall Total NIA1 1,898 20,435 £50,762.79 348-352 High Street, Sutton, SM1 1PX (1) Lease excluded from Security and Compensation Provisions of the Landlord & Tenant Act 1954.

Lo dg 1 to 3 e Posts O

akhill

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The Green 35.4m 1

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Shelter 4

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SITUATION DESCRIPTION 6 S 9 O

to 13 N

1 2 S Play Area C The property is situated on the east side of Sutton High Street, The property is arranged on ground and five upper floors to provide L

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4 E 3 10 to 19 23 directly opposite the picturesque open space of Sutton Green and office accommodation totalling 1,898 sq m (20,435 sq ft) NIA. The 6

2 Gat eway 0 within walking distance of a number of local stations, including, offices are arranged to provide a mix of cellular and open plan Court 1 Sutton Common Station, West Sutton Station and Sutton Railway accommodation. The property benefits from an 8 person passenger Station as well as the main retail centre of Sutton. lift serving all floors, male & female WCs (on each floor), central T H 3

E 7 3 G

heating, air conditioning on first and second floor and 34 parking 5 The property benefits from being situated 600m (0.4 miles) south R TCB 4 E

E T Garage

N E 4 spaces, 26 are to the rear and 8 at the front. El 2 O 47 E 37.7m of Sutton Common station and 1.2 km (0.8 miles) north of Sutton AK R Sub H T I PC LL S Sta R

3 O Railway Station and 1.1 km (0.7 miles) north east of West Sutton Access to the offices is via a reception from the High Street where as H 4 AD

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Station as well as having a bus stop, which offers multiple routes the car park is approached from the rear via Lewis Road. 6 5 2 situated approximately 80 metres on the High Street to the north. 2

The site is prominently situated to benefit from the amenities offered

8 34.3m 3 further along Sutton High Street, including a recently opened TENURE

3 De Sainsbury’s Supermarket 300 metres to the south. Other notable Freehold. CF f

Un occupiers in close proximity include, Halfords, Matalan, Topps Tiles, 1 d

Domino’s Pizza and Asda. CF

3 3 W

0 ard 4 Sub Sta Bd 1 y

SITE AREA 4

There are two shopping centres in the vicinity, St. Nicholas Shopping 3

2 8 Centre and Times Square Shopping Centre which are located 0.8km Approximate site area of 0.126 hectares (0.25 acres)* (0.5 miles) and 0.95 km (0.6 miles) to the south

9 34.0m 2

*This is an approximation and should not be replied upon. 6

41 The surrounding area can be classified as a mixture of residential 3 and commercial uses with many new residential and mixed use 7 to 12 1 t 3 o 6

3 developments being erected in the vicinity. 3

0m 10m 20m 30m 3 2

8 1 to 41 Sovereign 1 1a Apartments 1b Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250 © Crown Copyright, ES 100004106. For identification purposes only. Sutton HELENA HOUSE 348-352 HIGH STREET FREEHOLD OFFICE INVESTMENT/ SUTTON, SURREY SM1 1PX DEVELOPMENT OPPORTUNITY

ASSET MANAGEMENT OPPORTUNITIES PLANNING The property offers a number of asset management opportunities, including: The Local Planning Authority is: a) Re-let the offices: Source occupiers to take-up current office accommodation. Sutton Council T: 020 8770 5000 b) Refurbish: The property provides the purchaser the opportunity to further enhance rental value through refurbishing www.sutton.gov.uk and or improving the office accommodation. Recently refurbished offices in Sutton are being marketed at £22.00 psf The property is located within an Article 4 directive area. This means that permitted development c) Conversion to Alternative Use: Subject to planning, the site presents an excellent opportunity to obtain planning rights have been removed and planning permission is required for conversion to alternative uses. permission to convert the current office use to a variety of potential other uses residential, student, assembly & leisure, retail, non-residential institution including Sui Generis, subject to all necessary planning consents. Potential Alternative uses include: • Residential • Mixed commercial/Residential • Student • Hotel • School/ Education • Hostel

RESIDENTIAL SCHEMES IN THE AREA The Old Gas Works, ‘The Quarter’ Mixed Use scheme completed in 2016 comprising: Supermarket (Sainsbury’s), nine retail units and 181 residential apartments and five town houses. These were all sold by 2017. More recently, a handful of apartments have come back to the market at asking prices ranging between £465 psf - £525 psf.

Sovereign Place (Adjacent to property (2 doors down) This Mixed Use scheme is due to be completed later this year, comprising two commercial units and 40 residential units along with 26 car parking spaces. HELENA HOUSE 348-352 HIGH STREET SUTTON, SURREY, SM1 1PX

EPC Available in the dataroom.

VAT The property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

DATAROOM For Dataroom access please use the following link: https://datarooms.allsop.co.uk/register/Sutton

PROPOSAL We are instructed to seek offers in excess of £3,800,000 (Three Million, Eight Hundred Thousand Pounds) subject to contract and exclusive of VAT. This equates to a capital value of £186 psf.

For further information or to make arrangements for viewing please contact:

PRIVATE CLIENT TEAM RESIDENTIAL INVESTMENT & DEVELOPMENT Ronnie Morgan Alex Butler Michael Linane Richard How 020 7543 6808 020 7543 6722 020 7344 2623 020 7344 2652 [email protected] [email protected] [email protected] [email protected] www.allsop.co.uk

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 06.18