The Philpot Street Terrace, Whitechapel

Home , Canary Wharf, Royal London Hospital, Whitechapel, Whitechapel Road

A refurbishment and investment opportunity within moments of Whitechapel Overground, Underground and Crossrail Stations close to the Royal London Hospital, Whitechapel, London E1 Philpot Street Terrace Investment Summary

• Located close to Whitechapel Overground, Underground and Crossrail station.

• Freehold interest in an attractive terrace of Listed buildings near to The Royal London Hospital bounded by Philpot Street, Newark Street and Heron Tower Tower 42 Ashfield Street, London E1. 30 St Mary Axe • A mix of vacant and tenanted office, residential and Liverpool Street Underground, Overground and Crossrail medical accommodation.

• Current rental income of £92,400 per annum approximately.

• A number of imminent lease expiries in respect of Spitalfields Shoreditch commercial lettings with assured short hold Aldgate East Brick Lane tenancies on the residential elements.

• An attractive terrace of properties adjacent to a major refurbishment and redevelopment site immediately to the south, recently purchased from the same vendor, Barts and the London Charity.

• An opportunity for refurbishment of the existing residential units, and scope for conversion of office buildings back to residential use (subject to necessary consents).

• Offers sought for the freehold interest held by Barts and the London Charity (BtLC). Whitechapel Underground, Overground and Crossrail

O2 Canary Wharf Philpot Street Terrace

Whitechapel Overground, Royal London Hospital Underground and Crossrail

Philpot Street Terrace

Royal London Hospital

Philpot Street Terrace 1 Philpot Street Terrace Location

The Philpot Street Terrace site is an interesting mixed Shoreditch use opportunity immediately to the south of the Royal London Hospital and within minutes walk of Whitechapel Underground and within minutes walk of Aldgate Underground (District, and Hammersmith Liverpool Street and City), Overground and future Crossrail Stations. Station Shadwell DLR/Overground station is also nearby to Whitechapel Station the south.

This neighbourhood reflects a blend of different influences. Being within a short distance of the City and also close to Shoreditch with its TMT sector influence and lively nightlife and café scene.

Aldgate & Aldgate Whitechapel will be recognised as a strategically East Station convenient location being one Crossrail stop from Liverpool Street and minutes from Canary Wharf.

Whitechapel has access to the District and the Shoreditch Shadwell Station Hammersmith and City Lines, and Overground trains running from Crystal Palace/West Croydon in the South to connect with Watford in the North.

The locality surrounding the site is a mix of educational and research and hospital support uses Spitalfields Whitechapel Market underpinned by a thriving local multicultural ad l Ro ape community. On Whitechapel Road the long Broadgate itech Wh Royal London established street market provides local colour and B Hospital ri Liverpool c Co k

Street L amenity to an area burgeoning with new activity. m a n te m a e N g e s r e Philpot Street c w ia

hop l R Terrace S s o i t Whitechapel r a B e Visitors to the property will be struck by the sense of d e Gallery t a changing area with distinct character.

Aldgate Commercia L l Road East e n Aldgate ma n

S tr e e t C

t r e

R Overground o a Fenchurch Street Underground d Shadwell DLR Rail Tower Tower Hill Gateway Crossrail

Philpot Street Terrace 2 Philpot Street Terrace Communications

Underground/Overground The Philpot Street Terrace site is readily accessible to the rail and underground networks with the following stations all being within close proximity

Bus Numerous bus routes operate along Whitechapel Road and Commercial Road providing convenient access to the local area, including the City to the West and Canary Wharf and Stratford to the east.

Bike Public bicycle docking stations are located at: Royal London Hospital, Whitechapel Philpot Street, Whitechapel

Road The A10 is in close proximity, providing access to the north, and also to the M25.

International Eurostar – Frequent daily high speed rail services to the European continent operate daily from London St Pancras, immediately accessible via Overground links from Whitechapel, and in the future via Crossrail.

Air The following London airports are readily accessible from the site. London City Heathrow Luton Stansted Southend

Philpot Street Terrace 3 Philpot Street Terrace Crossrail, a driver for change

Whitechapel will be a major beneficiary from Crossrail. When complete in 2018 it will be transformed as a destination.

The new Whitechapel Crossrail station will use the existing Whitechapel Road entrance to the Whitechapel London underground and London Overground station. A shared concourse, ticket hall and station operations room will lead to a fully integrated station that provides an easy step free interchange between Crossrail, Hammersmith and City, District and Overground lines.

At peak times there will be 24 Crossrail trains per Step-free access from platform to street hour in each direction – in addition to the existing and for interchange platform to platform Station which requires use of steps or escalators London underground and London overground Step-free access in direction of arrow only services. This will support the economic growth in Surface line the surrounding area, and Whitechapel will become Tunnel an important interchange due to its position at the Copyright Crossrail Limited Portal (tunnel entrance and exit) eastern extremity of the central section of the Crossrail route.

Journey times to Heathrow airport will be only 39 minutes, whilst Whitechapel to Canary Wharf will be reduced to just 3 minutes. Links to Eurostar via Stratford are similarly rapid.

The new Whitechapel Crossrail station. Images copyright Crossrail Limited

Philpot Street Terrace 4 Philpot Street Terrace

Bank

208 Court 208 271 273 Underground a 59

265 MAPLES 57 Street PH 273 212 267 Description 261 51 12.3m to

263

Railway Whitechapel PLACE 49

259 CR 42 1 40 to

43 2 5 38 9 to 253 Mission 41

OS Site Plan 10 249 EAST 39 176 24 The Philpot Street Terrace contains a mix of residential, 245 251 ROAD to 10 37 247 D Fn TCB MOUNT

COURT 243 PH 3 2 4 WHITECHAPEL Post Office office and medical uses. The premises are located in STREET TCB Cycle Hire ST 235 Station 1

2 PCs 24 233 London Borough of Tower Hamlets and comprise eight 227 1:1250 @ A2 223 229 12.5m ROW 225 distinct Grade II Listed properties creating an attractive RAVEN facade on the western side of Philpot Street. Railway Underground

At this point Philpot Street is pedestrianised and 12.8m Hospital 12.6m (Whitechapel) London landscaped – a feature which may be expected to be The enhanced in any redevelopment proposals for the site immediately to the south. Stores

100

MILWARD

136

STREET

CAVELL Ayasofia Primary School

The Royal The Royal STREET SM

London Hospital London Hospital SM

School

85 and 11.7m of Dentistry 12.2m

Medicine STEPNEY WAY

58 12.6m 54

to John Smith Children's Centre

12.9m WAY STEPNEY 70

TURNER

Institute

Philpot (London 61 to 73 STREET

Pathology

of Street

Hospital) NEWARK

Fielden STREET PH 87 School of Medicine and 86

HALCROW Dentistry 8 12

House

Gwynne to

1 80

1 to 12.8m

60 STREET House 21 Hostel Hospital) STREET Students(London NEWARK 31 Pathology & Pharmacy 29 4

56 69 42 33 to Philpot to

32 30 89 36 60

12.9m Vic Floyer Street 30 House FORD SQUARE

Philpot Street 1 to 10 Philpot Street ASHFIELD STREET 28 11.8m

Court

12.6m 26 Elan

Terrace Terrace 84a 81

27 82a 28

12.0m 82

STREET 80

ASHFIELD 56 to

76 57 43 12.6m FORD 26

39 Hospital) 80a Ford Square St Laboratories(London SQUARE School 37 and Research 25 to Bartholomew

Midwifery

55 of Playground 48 46 Philpot Garage Nursing

The Blizard 22 10.8m 53 Horace

Evans 51 Building 26 Street 67

House 21 1

16 49

El Sub Sta 6

45 11.9m FORD SQUARE

51 10 FORD SQUARE Wilton 15

43 Nurses' 16 The Blizard Alexander 19 Clare Home House 33 Court Building 1 STREET to 1 School of Medicine 54 WALDEN to John Harrison 14

and Dentistry 9 House Dawson House 71

5 Nurses' Homes School 38

Porchester

London 28 25 House

STREET to

45 36

WALDEN Islamic

24 10 Zeki Henry Kent 1

Hubert House

Zoar

a 12 2 Brierley House

12.8m Ashton House 47

House House 1

Chapel Silvester 17

DAMIEN 6 28 22 Joscoyne 45

House 11

31 STREET STREET VARDEN 20 33 11.7m

Ps to

1 39

25 1 Cameron 19 6

to El 7 30 5

15 Sub 5 Ps 10 Dickson CAVELL

3 TURNER

Place 20

Sta

House 37 1 Damien

54 72 Mellish to to

House 12

Bridgen STREET STREET 18 1

25 House 10 12

Court 30 Greenwich

PHILPOT 2

49 to

1 to

1 Houseto Turner 4 43 17 1 to 25 Ct 35 33 19 31 STREET Tylney House 12.9m 17 STREET 11.9m 19

NELSON Philpot Street Terrace 5

10 52 87 22

3 12.8m to

60 to 56

NELSON 18

London Philson

64 STREET

1 East 95

22 to

26 Central

62a 74 to 11.7m 1 68

to Posts

18 Synagogue Mansions 82

80 11.6m

1 17 11 to PO

Peter Best 20

to 12 to

11 9 House 1

LB 88a 1 to 16 2

Burnham 7

225a Thorpe 1 to 18 Whitechapel I Development Plan Court Sarah House Cheviot House 10 (Council 161 165 201 to 217 Offices) 2 177 187 191 Stephan Reinke Architects Limited 153 to 157 159 163 167 169 175 179 181 185 189 193 195 197 www.scrarchitects.com TCBs 219 to 225 227 to 233

235 235a

255 2 Boro Const & Ward Bdy 249 257 12.9m TCBs 259 12.0m COMMERCIAL ROAD Peter 12.8m CR TCBs 269 House 275 Philpot Street Terrace Tenure

The properties are held freehold.

42 Newark Street 69 Philpot Street 67 Philpot Street 65 Philpot Street 63 Philpot Street 61 Philpot Street 59 Philpot Street 57A & 57B Philpot Street

Philpot Street Terrace 6 Philpot Street Terrace The Properties

42 Newark Street, London E1 69 Philpot Street, London E1

Interest – Freehold Interest – Freehold

Tenancies Tenancies Tenant – Vacant Tenant – Vacant Use – Residential Use – Residential

Location Location The property is located in Whitechapel adjacent to the Royal The property is located in Whitechapel adjacent to the Royal London Hospital, less than three miles to the east of central London Hospital, less than three miles to the east of central London. The Whitechapel Road (A11) runs less than 200m to London. The Whitechapel Road (A11) runs less than 200m to the north of the property and Whitechapel underground station the north of the property and Whitechapel underground station is less than ¼ mile to the north of the property providing access is less than ¼ mile to the north of the property providing access to the District and Hammersmith & City lines. to the District and Hammersmith & City lines.

Situation Situation The property fronts the south side of Newark Street, on the The property fronts the west side of Philpot Street on the corner corner of Philpot Street. The building has no front garden of Newark Street. The northern half of Philpot Street directly and is accessed directly from the pavement off Newark Street. in front of the property is pedestrianised and landscaped.

Description Description An early 19th Century brick built end-terrace house over The building is a period end of terrace house. It comprises a basement and three upper floors. The property has single kitchen and dining room at basement level, bedroom at ground glazed timber sash windows under a pitched tiled roof. floor, a study at first floor and a double bedroom and bathroom at second floor. There is a small hard surfaced garden to the rear There is a small hard surfaced garden to the rear of the property of the property. extending to a depth of 3.74m. The property has painted woodchip papered walls and contains The building comprises an open plan kitchen/dining room many period features including original fireplaces, panelled at basement level, lounge at ground floor, a double bedroom doors and joinery as well as ornate plasterwork and cornicing. and family bathroom at first floor and a further two single A gas fired boiler provides central heating via radiators bedrooms on the second floor. throughout the property. The property has plastered painted walls and contains many The property is in a basic state of repair having being vacant for period features including original fireplaces and joinery as well some time. The fittings are dated and the property would benefit as ornate plasterwork and cornicing. A modern kitchen and from refurbishment throughout. bathroom have been fitted and recessed spotlights added on all floors. A gas fired boiler provides central heating via radiators Schedule of accommodation and site area: throughout the property. Gross internal floor areas Schedule of accommodation and site area: Area Sq m Sq ft Net internal floor areas Basement 20.7 223 Area Sq m Sq ft Ground Floor 22.0 237 Basement 28.2 304 First Floor 20.8 224 Ground Floor 29.7 320 Second Floor 23.3 251 First Floor 29.7 320 Total 86.8 935 Second Floor 22.5 320 Total 110.1 1,186

Philpot Street Terrace 7 Philpot Street Terrace Tenancies

67 Philpot Street, London E1 65 Philpot Street, London E1

Interest – Freehold Interest – Freehold

Tenancies Tenancies None – Vacant Tenant – Private Use – Office Use – Residential VAT opted – No Rent – £13,200 Lease terms – Assured Shorthold Tenancy Location The property is located in Whitechapel adjacent to the Royal Location London Hospital, less than three miles to the east of central The property is located in Whitechapel adjacent to the Royal London. The Whitechapel Road (A11) runs less than 200m to London Hospital, less than three miles to the east of central the north of the property and Whitechapel underground station London. The Whitechapel Road (A11) runs less than 200m to is less than ¼ mile to the north of the property providing access the north of the property and Whitechapel underground station to the District and Hammersmith & City lines. is less than ¼ mile to the north of the property providing access to the District and Hammersmith & City lines. Situation The property fronts the west side of Philpot Street near Situation the corner of Newark Street. The northern half of Philpot The property fronts the west side of Philpot Street near the Street directly in front of the property is pedestrianised corner of Philpot Street and Newark Street. The northern half and landscaped. of Philpot Street directly in front of the property is pedestrianised and landscaped. Description A brick built Victorian terrace house over basement and three Description upper floors. The property has single glazed timber sash An early 19th Century brick built mid-terrace house over windows under a pitched tiled roof. basement and three upper floors. The property has single glazed timber sash windows under a pitched tiled roof. The building comprises a single office at basement level as well as ground and first floors. On the second floor there The building comprises an open plan kitchen/dining room at is a bathroom and kitchenette as well as a consulting room. basement level, two reception rooms at ground floor, two double There is a small hard surfaced garden to the rear of the property. bedrooms at first floor and a further double bedroom and family bathroom with separate shower room on the second floor. There The property has painted woodchip papered walls and contains is a small hard surfaced garden to the rear of the property. many period features including original fireplaces, panelled doors and joinery as well as ornate plasterwork and cornicing. Heating The property has plastered painted walls and contains many is provided by electric storage heaters throughout the building. period features including original fireplaces and joinery as well as ornate plasterwork and cornicing. A modern kitchen The property is in a reasonable state of repair commensurate and bathroom have been fitted and recessed spotlights with its age and use although the standard of accommodation added on all floors. A gas fired boiler provides central heating via is basic and would benefit from refurbishment. radiators throughout the property. Schedule of accommodation and site area: Schedule of accommodation and site area: Gross internal floor areas Gross internal floor areas Area Sq m Sq ft Area Sq m Sq ft Basement 20.7 223 Basement 32.4 349 Ground Floor 22.0 237 Ground Floor 33.4 360 First Floor 17.7 191 First Floor 33.8 363 Second Floor 23.3 251 Second Floor 34.4 369 Total 83.7 902 Total 133.9 1,440

Philpot Street Terrace 8 Philpot Street Terrace Tenancies

63 Philpot Street, London E1 61 Philpot Street, London E1

Interest – Freehold Interest – Freehold

Tenancies Tenancies Tenant – Private Tenant – Barts and the London NHS Trust Use – Residential Use – Office Rent – £21,216 per annum Rent – £12,900 per annum Lease terms – Assured Shorthold Tenancy Lease terms – 5 year term expiring 17/06/2015 Next review – None Location Break option – Nil The property is located in Whitechapel adjacent to the Royal VAT opted – No London Hospital, less than three miles to the east of central London. The Whitechapel Road (A11) runs less than 200m to Location the north of the property and Whitechapel underground station The property is located in Whitechapel adjacent to the Royal is less than ¼ mile to the north of the property providing access London Hospital, less than three miles to the east of central to the District and Hammersmith & City lines. London. The Whitechapel Road (A11) runs less than 200m to the north of the property and Whitechapel underground station Situation is less than ¼ mile to the north of the property providing access The property fronts the west side of Philpot Street near the to the District and Hammersmith & City lines. corner of Philpot Street and Newark Street. The northern half of Philpot Street directly in front of the property is pedestrianised Situation and landscaped. The property fronts the west side of Philpot Street mid way between junction of Ashfield Street and Newark Street. Description The northern half of Philpot Street directly in front of the property An early 19th Century brick built mid-terrace house over is pedestrianised and landscaped. basement and three upper floors. The property has single glazed timber sash windows under a pitched tiled roof. Description An early 19th Century brick built terrace house over basement The building comprises an open plan kitchen/dining room at and three upper floors. The property has single glazed timber basement level, two reception rooms at ground floor, two double sash windows under a pitched tiled roof. bedrooms at first floor and a further double bedroom and family bathroom on the second floor. There is a small hard surfaced The property is a residential building converted to office use and garden to the rear of the property with a brick built garden shed occupied by The City and East London Bereavement Service. against the rear wall of the garden. The upper floors comprise offices/consulting rooms, with WCs on the second floor and there is an office and a kitchen at The property has plastered painted walls and contains many basement level. period features including original fireplaces and joinery as well as ornate plasterwork and cornicing. A modern kitchen and The property has painted woodchip papered walls, fluorescent bathroom have been fitted and recessed spotlights added on strip lighting, carpeting throughout and contains many period all floors. A gas fired boiler provides central heating via radiators features including original fireplaces, panelled doors and joinery throughout the property. as well as ornate plasterwork and cornicing. A gas fired boiler provides central heating via radiators throughout the building. Schedule of accommodation and site area: The property is in a reasonable state of repair commensurate with its age and use although the standard of accommodation Gross internal floor areas is basic and would benefit from refurbishment. Area Sq m Sq ft Schedule of accommodation and site area: Basement 40.1 432 Net internal floor areas Ground Floor 37.7 406 Area Sq m Sq ft First Floor 42.1 454 Basement 28.8 310 Second Floor 40.1 432 Ground Floor 24.9 268 Total 157.0 1,692 First Floor 28.9 311 Second Floor 33.0 355 Total 115.6 1,244

Philpot Street Terrace 9 Philpot Street Terrace Tenancies

59 Philpot Street, London E1 57A and 57B Philpot Street, London E1

Interest – Freehold Interest – Freehold

Tenancies Tenancies Tenant – Barts and the London NHS Trust Use – Residential Use – Office Rent – 57A, £14,580 per annum Rent – £13,960 per annum Rent – 57B, £16,610 per annum Lease term – 5 year lease expiring 17 June 2015 Lease terms – Two separate Assured Shorthold Tenancies Next review – None Break option – Nil Location VAT opted – No The property is located in Whitechapel adjacent to the Royal London Hospital, less than three miles to the east of central Location London. The Whitechapel Road (A11) runs less than 200m to The property is located in Whitechapel adjacent to the Royal the north of the property and Whitechapel underground station London Hospital, less than three miles to the east of central is less than ¼ mile to the north of the property providing access London. The Whitechapel Road (A11) runs less than 200m to the District and Hammersmith & City lines. to the north of the property and Whitechapel underground station is less than ¼ mile to the north of the property providing Situation access to the District and Hammersmith & City lines. The property fronts the west side of Philpot Street on the corner of Ashfield Street. The northern half of Philpot Street directly Situation in front of the property is pedestrianised and landscaped. The property fronts the west side of Philpot Street near the corner of Ashfield Street. The northern half of Philpot Description Street directly in front of the property is pedestrianised The property has been split into two two-bedroom flats, and landscaped. 57A within the ground and lower ground floors and 57B over first and second floors. 57A is accessed through the garden Description to the rear of the property and 57B is accessed from a side door An early 19th Century brick built terrace house over basement off Ashfield Street. and three upper floors. The property has single glazed timber Flat 57A comprises a kitchen and lounge at ground floor level sash windows under a pitched tiled roof. and two double bedrooms and a bathroom at basement The property is a residential building converted to office use and level. There is a small single storey entrance porch to the rear, was last occupied by the Department of Nutrition and Dietetics. leading to a hard surfaced garden to the rear of the property The upper floors comprise two offices on each floor, with two which is used solely by 57A. additional WCs on the ground floor. There is an additional office Flat 57B comprises a kitchen and lounge at first floor level and and a communal kitchen at basement level. one single and one double bedroom and a bathroom at second The property has painted woodchip papered walls, fluorescent floor level. There is no outside space with flat 57B. Schedule of accommodation and site area: strip lighting, carpeting throughout and contains many period Both properties provide a very similar quality of accommodation features including original fireplaces, panelled doors and joinery and are in a similar condition. They both have plastered painted Gross internal floor areas as well as ornate plasterwork and cornicing. A gas fired boiler walls and contain period features including original fireplaces, provides central heating via radiators throughout the building. Area Sq m Sq ft panelled doors and joinery as well as ornate plasterwork and The property is in a reasonable state of repair commensurate cornicing. The ceiling to the bathroom in flat 57A showed signs Flat 57A with its age and use although the standard of accommodation of water staining along with cracking to the plaster. The staircase Basement 37.2 401 is basic and would benefit from refurbishment. Schedule of accommodation and site areas linking the four floors is contained within a semi circular turret to Ground floor 36.5 392 Net internal floor areas the rear of the property. Total 73.7 793 Area Sq m Sq ft Gas fired boilers provide central heating via radiators throughout the properties. Basement 28.8 310 Flat 57B The properties provide a basic standard of accommodation and Ground floor 24.9 268 are in a reasonable state of repair commensurate with the age First Floor 39.3 422 and use. First floor 28.9 311 Second floor 33.5 361 Second floor 33.0 355 Total 72.8 784 Total 115.6 1,244 Total 146.5 1,577

Philpot Street Terrace 10 Philpot Street Terrace Summary of Current Income and Expiries

Address Tenure Annual Income Notes Expiry date VAT opted Size

Let to commercial tenants 59 Philpot Street, London E1 Freehold £ 13,960 The lease is outside the security of tenure and compensation provisions of the 17/06/2015 No 1,244 sq ft Landlord and Tenant Act 1954 Part II (as amended). 61 Philpot Street, London E1 Freehold £ 12,900 A landlord break option has been triggered bringing the tenancy to an end on 31/12/2013 No 1,244 sq ft 31/12/2013. The lease is outside the security of tenure and compensation provisions of the Landlord and Tenant Act 1954 Part II (as amended). 67 Philpot Street, London E1 Freehold Vacant No 902 sq ft Residential 57A Philpot Street, London E1 Freehold £ 14,580 AST, monthly 793 sq ft 57B Philpot Street, London E1 Freehold £ 16,610 AST, monthly 784 sq ft 63 Philpot Street, London E1 Freehold £ 21,216 AST, monthly 1,692 sq ft 65 Philpot Street, London E1 Freehold £ 13,200 AST, monthly 1,440 sq ft 69 Philpot Street, London E1 Freehold Vacant 935 sq ft 42 Newark Street, London E1 Freehold Vacant 1,186 sq ft TOTAL £ 92,466 10,220 sq ft

Philpot Street Terrace 11 Philpot Street Terrace Planning Offers invited Further Information

The site is located in the London Borough of Offers are invited for the freehold interest in Philpot Street Terrace. www.philpotterrace.com Tower Hamlets and is located within the London For further information please go to the website or to Hospital Conservation Area. The Properties are arrange a viewing please contact: Grade II Listed. Colin Hargreaves Nearby, to the south west and east are two Gryphon Property Partners further conversation areas being the Myrdle Street [email protected] Conservation Area and the Ford Square +44 (0)20 3440 9804 Conservation Area, respectively. Mike Pope Gryphon Property Partners [email protected] +44 (0)20 3440 9807

Mark Bolton Strettons [email protected] +44 (0)20 7614 0900

Jonathan Cuthbert [email protected] +44 (0)20 7614 0901

Misrepresentation Act 1967 and Declaration Gryphon Property Partners and Strettons for themselves and for the vendors of this property whose agents they are give notice that:- a. the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract. b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact but satisfy themselves by inspection or

otherwise as to the correctness of each of them. c. no person in the employment of Gryphon Property Partners or Strettons has any authority to make or give any representation or warranty whatever in relation to this property. May 2013 Subject to Contract

Philpot Street Terrace 12