Savills Central London Investment Savills transactional activity in H1 2015
savills.co.uk/centrallondon Savills had a productive H1 2015 with sales in excess of £1 billion completed to date and approximately £572 million under offer or available, which reflects our capability in handling sales of some of the capital’s most prominent buildings. Both national and international appetite remains very strong and remains on course to drive high investment turnover for the remainder of the year. Stephen Down Head of Central London and International Investment +44 (0) 20 7409 8001 +44 (0) 7802 604 624 [email protected]
West End Investment
Paul Cockburn Simon Ewart Perks Barry Mangan Jonathan O’Regan Director Director Director Director +44 (0) 20 7409 8788 +44 (0) 20 7409 8003 +44 (0) 20 7409 5915 +44 (0) 20 7409 8179 +44 (0) 7870 555 706 +44 (0) 7921 750 073 +44 (0) 7985 416 325 +44 (0) 7840 284 629 [email protected] [email protected] [email protected] [email protected] City Investment
Felix Rabeneck Robert Buchele Richard Bullock Daniel Hesketh Director Director Director Director +44 (0) 20 7409 8918 +44 (0) 20 7409 8007 +44 (0) 20 7409 8006 +44 (0) 20 7409 8008 +44 (0) 7788 871 616 +44 (0) 7834 631 292 +44 (0) 7921 099 930 +44 (0) 7787 562 061 [email protected] [email protected] [email protected] [email protected] Strategic Investment Advisory
James Goldsmith John Heaver Russell Banham Oliver Bamber Director Director Director Director +44 (0) 20 7409 9918 +44 (0) 20 7409 8786 +44 (0) 207 409 8133 +44 (0) 20 7409 8849 +44 (0) 7870 555 747 +44 (0) 7870 999 623 +44 (0) 7972 000 238 +44 (0) 7870 999 765 [email protected] [email protected] [email protected] [email protected]
Savills - West End Savills - City 33 Margaret Street 15 Finsbury Circus, London W1G 0JD London, EC2M 7EB +44 (0) 20 7499 8644 savills.co.uk/centrallondon Transactions H1 2015 West End
Notting Hill Gate Estate, London W11 3.11 acre freehold of circa 170,000 sq ft in one of prime Disposal Central London’s wealthiest area. The Estate comprises highly reversionary retail and offices and spread over four holdings.
Vendor Notting Hill Estate LLP Purchaser Confidential Date June 2015 Status Sold Price In excess of £210.0m guide price Size 164,882 sq ft
4 Great Marlborough Street, London W1 Prime retail unit of 3,612 sq ft let to Starbucks and located Disposal just off Carnaby Street.
Vendor Great Marlborough Estates Purchaser Oxygen Assets Management Date June 2015 Status Sold Price £4.14m Size 3,612 sq ft
The Translation Building, Imperial West, White City, London W12 Disposal Forward funding opportunity for the long leasehold interest in a 187,405 sq ft pre-let Grade A office development within a new 7.5 acre Innovation campus.
Vendor Imperial College of Science, Technology and Medicine Purchaser Aviva Investors Date May 2015 Status Sold Price £152.5m Size 187,405 sq ft
savills.co.uk/centrallondon Transactions H1 2015 West End
120 New Cavendish Street, London W1 Virtual freehold office building of 32,481 sq ft, multi let with Disposal 81% of the income determinable on 6 months notice.
Vendor Private UK Investor Purchaser University of Westminster Date May 2015 Status Sold Price £44.0m Size 32,481 sq ft
Mutual House, 193-201 Regent Street, London W1 Disposal Flagship luxury retail let to Hackett, Church’s & The Pen Shop and self-contained offices to the upper floors accessed from Conduit Street.
Vendor Private Asian Investor Purchaser Institutional Investor Date March 2015 Status Sold Price £85.5m Size 26,933 sq ft
One Sheldon Square, London W2 Prime freehold office investment offering 195,381 sq ft of Disposal Grade A office space single-let to Visa Europe Services. Prominantly located at the gateway to Paddington Central.
Vendor EPF Purchaser British Land Date March 2015 Status Sold Price £210.0m Size 195,381 sq ft
savills.co.uk/centrallondon Transactions H1 2015 West End
95-99 Charing Cross Road, London WC2 Two freehold retail units totalling 1,890 sq ft and occupying a Disposal busy retail pitch directly between Tottenham Court Road and Leicester Square stations.
Vendor Private UK Investor Purchaser Private Asian Investor Date March 2015 Status Sold Price £4.35m Size 1,890 sq ft
246 Fulham Road, London SW10 Grade II listed and fully-let retail and residential investment Disposal totalling 2,765 sq ft. Situated in a prime retail pitch directly opposite Chelsea & Westminster Hospital.
Vendor Private UK Investor Purchaser Private UK Investor Date February 2015 Status Sold Price £2.6m Size 2,765 sq ft
Carrington Street Car Park, London W1 A 0.5 acre freehold development site in the heart of Mayfair Disposal consisting of a car park offering development potential over both the upper and lower levels.
Vendor CP Co Ltd Purchaser N/A Date June 2015 Status Marketing Price Guiding in excess of £60.0m Size 0.5 acres
savills.co.uk/centrallondon Transactions H1 2015 West End
1-3 Charlotte Street, W1 Prime freehold property comprising office and retail Disposal accommodation with planning consent for change of use to residential on the upper floors.
Vendor Private UK Purchaser N/A Date June 2015 Status Marketing Price Guiding in excess of £3.5m Size 4,033 sq ft
76-78 Notting Hill Gate, London W11 Prime retail and residential property situated in Disposal Notting Hill Gate. Attractive retail unit with a high specification triplex flat benefiting from its own private entrance from Pembridge Gardens.
Vendor Private UK Investor Purchaser N/A Date June 2015 Status Marketing Price Guiding in excess of £15.0m Size 7,459 sq ft
158 Old Brompton Road, SW5 Freehold property comprising 3,482 sq ft of retail and Disposal residential accommodation with an unexpired term of 9 years.
Vendor Wolfe Purchaser N/A Date June 2015 Status Marketing Price Guiding in excess of £3.25m Size 3,482 sq ft
savills.co.uk/centrallondon Transactions H1 2015 West End
10/10A Rochester Row, London SW1 The Property provides two well configured retail units totalling Disposal 5,584 sq ft arranged over ground floor only let to Sainsbury’s and Interoffice Global.
Vendor UK Property Company Purchaser N/A Date June 2015 Status Marketing Price Guiding in excess of £4.0m Size 5,584 sq ft
26 - 28 Hammersmith Grove, London W6 Majority freehold multi-let mixed use property comprising Acquisition 204,561 sq ft situated on Hammersmith Grove.
Vendor UK Private Equity Purchaser Hermes Date May 2015 Status Acquired Price £131.0m Size 204,561 sq ft
200 Strand, London WC2 Mixed-use office and retail building arranged over Acquisition basement, ground and five upper floors comprising approximately 12,432 sq ft let to Kerman & Co and Yorkshire Building Society.
Vendor Private UK Purchaser Private Middle Eastern Investor Date May 2015 Status Acquired Price £17.3 m Size 12,432 sq ft
savills.co.uk/centrallondon Transactions H1 2015 West End
One Mabledon Place, London WC1 Landmark tower totalling 90,579 sq ft of single-let Grade A Acquisition office space comprehensively refurbished in 2014 and single-let to The Doctors Laboratory Ltd until November 2029.
Vendor UK Property Company Purchaser Middle Eastern Investor Date February 2015 Status Acquired Price £72.5m Size 90,579 sq ft
New Oxford Street Estate, London WC1 A 0.21 acre / 23,220 sq ft mixed-use development site Acquisition on New Oxford Street. The seven adjoining buildings offer an exciting redevelopment opportunity.
Vendor UK Property Company Purchaser Private Investor Date January 2015 Status Acquired Price £15.5m Size 23,220 sq ft
savills.co.uk/centrallondon Transactions H1 2015 City
80 Fenchurch Street, London EC3 A substantial 0.6 acre site sold with planning for a Disposal 246,797 sq ft Fosters + Partners designed scheme.
Vendor Receivers Purchaser European Institution Date April 2015 Status Sold Price £54.75m
Computer Generated Image Size 246,797 sq ft
3 Minster Court, London EC3 Virtual freehold building (50% interest) fully let to the London Disposal Underwriting Centre until March 2016.
Vendor Santander Purchaser Ivanhoe Cambridge and Greycoat Date March 2015 Status Sold Price £85.0m Size 275,210 sq ft
Bow Bells House, 11 Bread Street, EC4 A prominent freehold property located adjacent to the historic Disposal St Mary-le-Bow Church and within close proximity to St Pauls Cathedral comprising office accommodation with retail at ground floor level and basement storage and car parking.
Vendor Private Russian Investor Purchaser Fubon Date January 2015 Status Sold Price £185.0m Size 164,681 sq ft
savills.co.uk/centrallondon Transactions H1 2015 City
East India Dock, London E14 A multi-let high quality office campus estate consisting Disposal of 4 buildings on a 6.40 acre site.
Vendor UK Institution Purchaser Confidential Date June 2015 Status Under Offer Price Guiding in excess of £170.0m Size 591,090 sq ft
24-30 West Smithfield, London EC1 A Freehold property offering immediate vacant possession Disposal with refurbishment and change of use potential.
Vendor City & Guilds Purchaser Confidential Date June 2015 Status Under Offer Price Guiding in excess of £35.0m Size 73,403 sq ft
Harmsworth House, Bouverie Street, EC4 A Prime midtown long leasehold property comprising two Disposal interlinking buildings featuring office accommodation, together with public house, ancillary and car parking.
Vendor Tristan Capital Partners & Addington Capital Purchaser N/A Date June 2015 Status Marketing Price Guiding in excess of £22.0m Size 60,076 sq ft
savills.co.uk/centrallondon Transactions H1 2015 City
Thames Court, 1 Queenhithe, London EC4 Freehold investment opportunity fronting the river let to Disposal Rabobank and The Royal Bank of Canada.
Vendor CVRE Global Investors Purchaser N/A Date June 2015 Status Marketing Price Guiding in excess of £195.0m Size 227,765 sq ft
7 Bishopsgate, London EC2 Refurbished multi-let Grade II listed building in close Disposal proximity to the Bank of England and Lloyd’s of London.
Vendor TIAA Henderson Real Estate Purchaser N/A Date June 2015 Status Marketing Price Guiding in excess of £47.25m Size 57,433 sq ft
Watermark Place, 90 Upper Thames Street, London EC4 Acquisition Prime freehold office building with frontage to River Thames. Fully let to Nomura with c.14 years unexpired.
Vendor Oxford Properties Purchaser Union Investment Date May 2015 Status Acquired Price £255.0m (50% stake) Size 542,497 sq ft
savills.co.uk/centrallondon Transactions H1 2015 City
30 King Street, London EC2 Core City of London building constructed in 2009 and Acquisition multi-let to six tenants.
Vendor Ardstone Purchaser Orchard Street Date May 2015 Status Acquired Price £37.0 m Size 35,906 sq ft
130 Wood Street, London EC2 Freehold office building close to St.Paul’s Cathedral and Acquisition fully-let to four tenants.
Vendor Land Securities Purchaser Singaporean Investors Date May 2015 Status Acquired Price £52.6m Size 64,581 sq ft
80 Coleman Street, London EC2 Grade II listed mixed use office and retail building in a Acquisition core City of London location providing a 15 year sale and leaseback opportunity.
Vendor Beaumont Business Centres Purchaser Corpus Sireo Date April 2015 Status Acquired Price £ 27.0 m Size 27,614 sq ft
savills.co.uk/centrallondon Transactions H1 2015 City
Monument Place, 24 Monument Street, London EC3 Acquisition A new freehold development of 83,077 sq ft in a prime location.
Vendor Rockspring Purchaser CERN Date March 2015 Status Acquired Price £93.0m Size 83,077 sq ft
51 Moorgate, London EC2 A long leasehold refurbishment opportunity. Acquisition
Vendor Corpus Sireo Purchaser Skanska Date March 2015 Status Acquired Price £17.0 m Size 40,303 sq ft
21 Moorfields, London EC2 A 1.9 acre site strategically located at the western Acquisition entrance to Liverpool Street’s Crossrail Station.
Vendor Administrators Purchaser Land Securities Date February 2015 Status Acquired Price £16.6m ComputerCGI Generated Image Size c.500,000 sq ft (proposed)
savills.co.uk/centrallondon Transactions H1 2015 City
75 King William Street, London EC4 Refurbished multi-let freehold building approximately 125 Acquisition metres from the Bank of England.
Vendor Aberdeen Asset Management Purchaser Singaporean Institution Date January 2015 Status Acquired Price £96.0m Size 128,132 sq ft
Cannon Bridge House, 25 Dowgate Hill, London EC4 Acquisition Landmark City of London office building directly above Cannon Street station.
Vendor Westbrook Purchaser Blackstone Date January 2015 Status Acquired Price £166.0m Size 285,580 sq ft
St Clement’s House, 27/28 Clements Lane, London EC4 Acquisition Freehold office building with the majority of the accommodation single-let to MWB Business Exchange.
Vendor US Institution Purchaser US Institution Date June 2015 Status Under Offer Price £25.0m Size 43,392 sq ft
savills.co.uk/centrallondon Why Savills?
g In the last 18 months Savills has advised on £7.75bn worth of transactions in the Central London investment market. g Savills has an unrivalled investment track record in London with a team comprising senior and highly experienced Directors. g Savills was ranked as the UK’s number one property services firm in 2014 by Estates Gazzette for the 12th consecutive year. g In the last 24 months Savills has exceeded quoting levels on 90% of all our City sales and on 100% of those over £100m g In 2014, Savills advised on the disposal of 30 St Mary Axe “The Gherkin”, achieving a price £726 million and setting records for both yield and capital value per sq ft for a City building. g Last year Savills advised on over 90 commercial sales and acquisitions in Central London, with 46 commercial sales recorded in H1 2015. g Savills capital markets and agency teams operate as one holistic team thereby creating a close working relationship. g As a highly successful, multi-disciplinary firm, we are able to draw upon expertise in areas as diverse as finance, building and property management. g Savills was involved in 25% (by volume) of all City transactions over £100m in 2014. g Savills was involved in 19% (by number) of all West End transactions in 2014. g Last year Savills advised clients from over 14 different countries in the Central London investment market. g Savills won 23 awards in 7 regional offices at the International Property Awards including Best Real Estate Agency Asia Pacific and Best Property Consultancy Marketing in Singapore. g Savills has topped the real estate agents / advisors category in the 2015 UK Business Superbrand.
th g In March 2015, Savills was recognised for its exceptional achievement at 13 Annual Managing Partners Forum (MPF) Awards for its outstanding contribution to the property profession.
savills.co.uk/centrallondon