NO.1 ELSTREE WAY BOREHAMWOOD WD6 1RN Office/Warehouse Complex in Prime Location with Significant Development Potential

Commercial Estate Agents & Valuers 2

1 ELSTREE WAY

The 1 Elstree Way site has been owned and occupied by the International Bible Students Association (IBSA) since 2014, having been used since that date as a regional administrative centre, along with a warehousing and distribution facility. However, since the owner will be relocating to a new purpose-built consolidated live/work complex in Chelmsford during 2019, the 1 Elstree Way site will shortly need to be sold.

The existing building is now almost 30 years old and although fit for its original purpose, occupies a prime gateway site which Hertsmere Council indicate is very suitable for redevelopment. Therefore, whilst bringing the property to the market in its existing form, the owner has also taken the decision to investigate and identify the most appropriate and best value redevelopment option prior to sale.

The burgeoning film industry has made Elstree its own, with the renowned Elstree Studios just a 600m walk away. Also, there is a significant shortfall in office space locally due to the effect of permitted development. Combined together, this equates to a strong demand for purpose-designed floorspace to support growth markets. No.1 Elstree Way presents an excellent opportunity to secure such growth, and also offers the perfect location to complement both sectors. 3

SITE HISTORY

Elstree Way was developed in the mid 1930’s to link the new emerging film industry to the wider road network.

As can be seen from the photograph dated 1938, the site was one of the earliest buildings to be built in the Photograph dated 1938 view looking east Photograph dated 1939 view looking north-east area, and Elstree Way and Manor Way were two of the The site is a clear gateway site. earliest roads to be developed. The site located on the corner of these two roads is a clear gateway site.

The strong linear form of the 1930’s commercial/ industrial buildings developed along Elstree Way still exists until today, although is less pronounced. In July 1986 planning permission was granted for the site to be developed with a mixed use of office, warehouse and production, and this continued the linear form along Elstree Way.

Photograph dated 1952 looking east Photograph dated 2015 looking south Linear building forms established along Elstree Way 4

THE AREA

Elstree is a village in the Hertsmere borough of Hertfordshire, approximately thirteen miles northwest of central London. It forms part of the civil parish of Elstree and Borehamwood, originally known simply as Elstree. No.1 Elstree Way has a principal frontage to Elstree Way of some 80m and an adjoining frontage onto Manor Way of some 95m.

Approaching from the main A1, No.1 Elstree Way enjoys a substantial presence sitting on the corner of the first roundabout encountered. On the adjoining corner sits Gemini House, a new development of some 172 residential units. The site has a gentle fall east to west, and this is reflected in the office parts of the building having a basement area, although this enjoys natural light to one side in full and one side to a large extent. Principal access is located in Manor Way where a gated entrance and barrier control system is in place. The frontage to Elstree Way benefits from a service road with parking, and entrance to the main reception area which includes a full height atrium, can be gained from here.

Substantial housing development is underway along Elstree Way in the direction of Elstree Film Studios, which is some 600m to the west. The area is also served by a number of restaurants, such as the New York style Diner, Delisserie. There are 650 car parking spaces located at the Borehamwood Shopping Park, where such outlets as M & S Food Store, Debenhams, Starbucks, Boots, Next & Argos can be found. 5

W E L L

E N D

R O A TRAVEL D

No.1 Elstree Way is located approximately one mile from Elstree and

R O

W Borehamwood Railway station which provides links to central London D A L O E R Y

Y L and Luton, where you can change of trains for inter-city services to E A L N N E E H the north. The location has good connecting links to the A1, M1 S NO.1 ELSTREE WAY and M25. Access to light aircraft and helicopter traffic lies just over 10 minutes away by road at Elstree Aerodrome. AY EL EE W STR LSTR EE W E AY A1

AD O Y R LE EN SH

A1

Elstree and Borehamwood FU Railway station RZ EH IL L RO A Easy access to Elstree and Borehamwood Typical travel time to D Principal routes* Railway station* London airports*

A1: 3 mins King’s Cross & St Pancras: 34 mins Heathrow: 31 mins

S M1: 5 mins Euston: 35 mins Stansted: 35 mins S A P - Y B M25: 12 mins Charing Cross: 41 mins London City: 42 mins T E Liverpool Street: 41 mins Gatwick: 64 mins N R A Waterloo: 41 mins B A411 Victoria: 44 mins A411

*Using TFL Journey Planner & Google Maps

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CURRENT SITE

No. 1 Elstree Way consists of a three storey office block to the northern elevation with a lower ground level in parts. To the south is a large warehouse facility which is fronted by extensive parking, along with a gated entrance onto Manor Way. The combined site area is 1.63 acres. The topography is gently sloping. The plot occupies a prominent position adjacent to a roundabout on Elstree Way, which is the primary route into Elstree and Borehamwood from the A1. 8

DESIGN PROPOSAL

The proposed new building form has been designed to make the most efficient use of the site and to respond positively to the surrounding street scene. The form and massing is carefully arranged to allow the British Council for Offices (BCO) 2014 spatial, specification and performance standards to be met, with floor plates configured according to a 1.5m office space planning module.

The building also creates active frontages on both Elstree Way and Manor Way by means of dual office entrances and a connected business lounge style coffee shop use

EXISTING (m²) Office Retail Warehouse Parking Core/Plant Atrium Total GIA Level LG 220 – – – 200 – 420 Level G 663 – 2,059 – 173 47 2,942 Level 1 663 – 274 – 207 – 1,144 Level 2 662 – – – 220 – 882 To t a l 2,208 – 2,333 – 800 47 5,388

PROPOSED (m²) Office Retail Warehouse Parking Core/Plant Atrium Total GIA Level 0 540 270 – 1,710 567 828 3,915 Level 1 2,698 – – – 567 – 3,265 Level 2 2,698 – – – 567 – 3,265 Level 3 2,385 – – – 513 – 2,898 Level 4 1,791 – – – 513 – 2,304 Level 5 1,791 – – – 513 – 2,304 Level 6 – – – – 486 – 486 To t a l 11,903 270 – 1,710 3,726 828 18,437 9 CURRENT SITE - 3D VIEWS

View from south west View from north east

View from the roundabout at the junction of Elstree Way and Manor way (from north west) View from Elstree Way - looking west 10 PROPOSED DEVELOPMENT - 3D VIEWS

View from south west View from north east

View from the roundabout at the junction of Elstree Way and Manor way (from north west) View from Elstree Way - looking west 11 PROPOSED DEVELOPMENT - FLOOR PLANS

OFFICE 1791 m²

OFFICE OFFICE 2698 m² 2385 m²

LOBBY VOID

LEVEL 1 LEVEL LEVEL 3,265 m² GEA 2,898 m² GEA 2,304 m² GEA 2,698 m² NIA 2,385 m² NIA 1,791 m² NIA

OFFICE 1791 m² UNDERCROFT PARKING 1710 m² (43 Spaces)

OFFICE 2698 m²

OFFICE 198 m²

OFFICE 342 m²

LOBBY VOID RETAIL LOBBY 828 m² 270 m² LEVEL LEVEL 3,265 m² GEA 2,304 m² GEA 2,698 m² NIA 1,791 m² NIA

LEVEL 3,915 m² GEA 3,348 m² NIA VIEWING Strictly by appointment through sole agent

For further information please contact Martin H Berg 0203 897 1823 [email protected] David Raphael Commercial Estate Agents & Valuers 0203 897 1824 [email protected]