Conran Building, 22 Shad Thames, Butler’s Wharf, London SE1

Existing Proposed CGI

Unconditional offers sought for the Freehold interest with the benefit of vacant possession

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St Paul’s Cathedral

The Shard

Tower of London Street Butler’s Wharf

City Hall Conran Building

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Summary • 16,405 sq ft office building capable of immediate occupation

• 25,359 sq ft refurbishment and extension ready to commence Q2 2021

• The building has strong environmental, personal well-being and bio-security credentials

• Quoting offers in excess of £12,000,000 reflecting £731 psf on existing and £473 psf on proposed.

Background to Sale

Shad Thames Partnership LLP exchanged contracts to purchase the property in March 2020 with completion and vacant possession on 21st December 2020.

Over the last six months, the use class has been changed entirely to office, Use Class E, three pre-apps have been undertaken at planning officer and design officer level, resulting in a planning application submission reflecting Southwark Council’s detailed input. See planning reference 20/AP/2682.

A professional team has been assembled who are working towards commencing the scheme in Q2 2021.

Opportunity

To purchase the property, in the form of a sub-sale, completing 21st December 2020:

a. with the benefit of the work undertaken to date and the ability to develop the scheme submitted for planning, subject to planning permission, or b. to carry out a light refurbishment of the existing building for letting or owner occupation

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Location

The Conran Building occupies a prominent position on Shad Thames overlooking St Saviour’s Dock and The , a short walk to Tower Bridge, the and Bermondsey Street. The historic street name Shad Thames is also used to describe the wider micro location, also known as Butler’s Wharf.

London Bridge Station is approximately eight to ten minutes’ walk along one of the most pleasant River Thames walkways in London featuring numerous bars, restaurants and open spaces.

This is an established commercial location with the More London Estate immediately to the west (home to City Hall, PWC, Ernst & Young and Norton Rose Fulbright).

Shad Thames offers a unique village atmosphere in a seven day location popular with residents, tourists and commercial tenants.

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History

Shad Thames and St Saviour’s Dock (formerly Jacob’s Island) has come a long way since being used as the setting for portions of Oliver Twist (1837-1839) by Charles Dickens. By 1873 the area formed the largest warehouse complex in London housing tea, coffee, spices and other commodities.

During the 20th century the area went into decline as congestion and containerisation allowed goods to unload at London Bridge, the last warehouses closed in 1972.

1813 1868

Aerial photo 1922

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In 1981, the late Sir Terence Conran led a bid backed by the London Docklands Development Corporation (LDDC) to completely regenerate Shad Thames. The masterplan utilised the existing warehouse buildings, incorporating restaurant and other leisure uses at ground floor. Ground- breaking at the time, popular ever since.

Sketch of Sir Terence Conran’s for the regeneration of Butler’s Wharf

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Building Description

Arguably the most iconic building in Shad Thames. Designed by Hopkins Architects, the RIBA award winning building was developed in 1991 and commissioned by industrial designer David Mellor. It then became the London home to the late Sir Terrance Conran and the Conran group of companies in 1996. After 24 happy years in the building, the Conran businesses have moved elsewhere but the legacy remains, with the Conran stamp engrained throughout the building.

Virtual building tour available via the following link: https://viewings.ehouse.co.uk/#/matterport/show/hQQivJsmkSf

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Early 1990’s – David Mellor Ground Floor Showroom

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The building comprises a six storey fair-faced exposed concrete frame, fully glazed with openable windows to the front and rear in between the exposed columns with Juliette balconies and some projecting mesh balconies at the upper floors. The building benefits from excellent levels of natural light, outlook and natural ventilation with a strong connection to the peaceful streets of Shad Thames and tidal River Thames given the abundance of external amenity space.

The main building is flanked by two towers, the south houses the main stairs and lift, and the north the secondary stair and ancillary services. Typical office floors are c.3,000 sq ft NIA providing open plan accommodation with uninterrupted floor to ceiling heights of 2.7m, with services contained within the screed and lighting recessed with intricate detailing. The ground floor benefits from a double height entrance and leads to a private rear terrace which overlooks St Saviour’s Dock. The fifth floor also features two large terraces totaling 1,400 sq ft with enviable views, one facing East and the other West, to capture the morning and evening sun, perfect for entertaining.

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Typical office floor

Ground floor reception

The historic use of the ground floor as retail and the fourth and fifth floor for residential use has been regularised and the building is now able to be defined entirely as office Use Class E.

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Existing - ground floor (red line denotes site boundary)

Existing - typical floor

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Environmentally Friendly and Enhanced Working Environment

• Environmental Credentials – the building was well ahead of its time proving that it is possible to create buildings with 3,000+ sq ft floorplates that do not require air-conditioning or heating. The thermal efficiency and orientation means that heating can be achieved via a small number of electric panel heaters, with cooling controlled via solar shading and natural cross-ventilation. The 25+ year feedback is there are a handful of days a year where air conditioning would be beneficial. • Cost Effectiveness – Given the above, the building’s running costs are economical and likewise the cost of maintenance and repair of associated plant. • Regular Air Change – With 6 bays of openable glazing per floor, effective cross-ventilation delivers regular natural air changes to each floor, thought to be an effective way to help minimise the spread of viruses amongst office workers. In addition, there is a mechanical air handling system that can be used on each floor during periods that opening windows may not be appropriate. • Wellbeing – The building overlooks one of the few natural landmarks of the city, the River Thames, providing a calming and relaxing experience to the office worker. The 8-10-minute walk from along the river front with views of a number of London’s major landmarks ending in the quieter Butler’s Wharf area further enhances this. The building also benefits from a newly revised PTAL rating of 6b following the opening of the Tooley St entrance to London Bridge.

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Proposed Scheme

Shad Thames Partnership LLP have recently submitted a comprehensive planning application for an impressive Squire & Partners scheme to enhance and sensitively extend the existing building. While the extension targets BREEAM excellent, the building has been designed holistically with sustainability in mind, utilising the building’s existing capabilities and enhancing them through facsimile design, and environmentally focused new plant, lighting and technology.

The new elements complement and enhance the existing design via three modular extensions to the rear (fronting St Saviour’s Dock), side and upper elevations.

Original concept design by Hopkins Architects vs. proposed concept design by Squire & Partners

The modular extensions follow the original design concept of placing supporting services around the central office building:

• The side extension provides meeting rooms, allowing the central office space to return to open plan accommodation • The rear extension provides amenity space to all floors in the form of winter gardens and balconies overlooking St Saviour’s Dock • The upper extension will provide three new additional floors including an office duplex at 7th & 8th with two 700 sq ft terraces, one on each floor

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The existing core will be reconfigured to provide direct access at ground floor level to the upper floors via two lifts, along with new WC provisions.

Proposed CGI - ground floor The office floors feature modern recessed lighting and air conditioning solutions providing best in class accommodation. The windows will remain openable keeping the option to naturally ventilate and control temperature. Heating will be integrated into the building along the windows. The existing floor to ceiling volume will remain uninterrupted.

Proposed CGI – typical floor

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Proposed - ground floor

Proposed - typical floor

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The basement contains 47 bike racks, a mix of Sheffield stands and two tier cycle racks to accommodate cyclists of different abilities, e-bike charging points and lockers for each cyclist and shower facilities (four shower cubicles, one fully accessible).

Access control, CCTV, intruder detection, lighting and staffing are all to be considered and designed together, in an ‘integrated security’ approach. This holistic approach makes for better, leaner, more cost effective, and more user-friendly solution. The ambition is to create a building that is not only best in class, but attracts office occupiers in the same way it attracted David Mellor and the late Sir Terrance Conran, an exemplary design conscientious of its environment. Proposed CGI below.

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EXISTING PROPOSED Area (sq ft) Floor Area (sq ft) Floor NIA GIA Eighth 1,442 2,088 Seventh 2,217 2,939 Sixth 3,218 4,241 Fifth 1,220 Fifth 3,423 4,241 Fourth 3,137 Fourth 3,423 4,241 Third 2,975 Third 3,412 4,230 Second 2,969 Second 3,391 4,187 First 2,959 First 3,391 4,187 Ground 2,683 Ground 1,442 3,369 Basement 462 Basement 0 1,787 Total: 16,405 25,359 35,510

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Key considerations:

Webb Yates have carried out a structural feasibility study and confirmed the existing structure is capable of supporting the vertical and rear extensions without major intervention. The side extension is structurally independent.

PBC carried out a Building Survey Report, which we make available. The building is in good to fair condition and has been well maintained. There are however blown glazing panels in the moving window frames only that will require replacing.

Point 2 Surveyors have advised on daylight/sunlight and rights to light, with insurance currently being arranged. Interested parties are advised to include a £300,000 budget (insurance led approach including premium and excess).

The surveys in the data room may be assignable to the purchaser. Prospective purchasers are able to bid on the above information.

Data Room Full details of the property are available via www.kinglypartners.com/Conran.

Reports available to download:

1. Structural Feasibility Study – Webb Yates 2. Building Survey Report – PCB 3. Daylight/Sunlight & Rights to Light – Point 2 Surveyors 4. Design & Access Statement – Squire & Partners 5. BREEAM Stage 2 Report – Concept Design 6. Construction Management Plan – Knight Harwood 7. Planning Statement – Montague Evans 8. Energy Statement – DSA Engineering 9. Statement of Community Engagement 10. Transport BREEAM Compliant Travel Plan / Delivery & Servicing / Transport Assessment 11. Utility Assessment – EB7 12. FRA & SUdS Report – EB7

Link to planning application - https://planning.southwark.gov.uk/online- applications/applicationDetails.do?keyVal=QGT5X4KBI8000&activeTab=summary

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Tenure

Freehold & Leasehold. Both Freehold and Leasehold interests are controlled via a single purchase contract. Upon completion, the Leasehold can be dissolved if required.

VAT

The Freehold is not elected for VAT. The Leasehold is elected for VAT. The purchase price is to be split 33:67 between the Freehold (33%) and Leasehold (67%) interest. The transaction is not a transfer of going concern (TOGC).

EPC

All floors have been assessed separately and meet the minimum requirements with ratings ranging B-E. Copies of the EPCs are in the dataroom.

Proposal

We are instructed to seek offers, subject to contract and exclusive of VAT, in excess of £12,000,000 reflecting £731 psf on existing and £473 psf on proposed.

Contact Details

Further information is available at www.kinglypartners.com/Conran Sam Stevens

Email: [email protected]

Tel: 020 7858 6862

Mobile: 07825 507 519

Paul Rowntree

Email: [email protected]

Tel: 020 7858 6863

Mobile: 07825 507 523

NOTICE: Messrs Kingly Partners, for themselves and for the vendors of this property, whose agents they are, give notice that: i) These particulars are only for the guidance of prospective purchasers and do not form part of any offer or contract. (ii) Whilst the information contained herein is issued in good faith, neither the firms nor their clients guarantee its accuracy and it is not to be relied upon as statements or representation of fact. (iii) Any intending purchasers must satisfy themselves as to the correctness of each of the statements made herein. (iv) The vendor does not make or give, and neither the firms nor any of their employees have any authority to make or give, any representation or warranty whatever in relation to this property. (v) Nothing in these particulars constitutes a statement that the property and/or any services or facilities are in good condition or working order. (vi) These particulars were completed in October 2020. (vii) Kingly Partners will not be liable, in negligence or otherwise, for any loss deriving from these particulars.