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Home , Borough Market, Elephant and Castle, Metro Central Heights, Newington Causeway, Southwark Bridge, Southwark Bridge Road

101 SE1

Significant Zone 1 Development Opportunity

02 Executive Summary 06 Location 18 The Site 22 The Opportunity 40 Planning 42 Sales Process & Deal Structure 44 Market Research & Overview 48 Further Information 49 Contacts

2 Executive Summary

An outstanding opportunity to create a landmark scheme through the redevelopment of the existing Salvation Army UK Territorial Headquarters

• Freehold development site located in the heart of Elephant & Castle • Rare opportunity to create a mixed use scheme through redevelopment of Zone 1 site in London Borough of • 0.65 acre (0.26 hectare) site currently occupied by Salvation Army UK & Republic of Ireland Territorial Headquarters • Three buildings currently occupy the site: 10 storey existing B1 office building with basement, a 5 storey building used for publishing with ancillary shop, and a single storey building with staff facilities including prayer room and band practice hall • Existing total gross internal floor space of the three buildings is approximately 8,446.7 sq m (90,918 sq ft) GIA • The Salvation Army is to relocate to new premises within the borough • Pre-application discussions with London Borough of Southwark in August 2018 for comprehensive redevelopment to provide 39 storey and 14 storey commercial building on-site • Pre-application proposals include residential use (238 units) or student use (630 units) within a 39 storey tower, and a separate 14 storey office building with proposed total scheme GIA of up to 31,753 sq m (341,790 sq ft) • The site has potential for a number of alternative uses subject to securing the necessary planning permission • Expressions of Interest invited on a Subject to Planning basis • Freehold

Computer generated image of pre-application scheme

3 4 5

Blackfriars

St Paul's

City of London

The Shard 6 London

The city contributes £3 trillion to the UK economy and 21% of GDP

• London is now home to 8.7 million people, making it an increasingly diverse city to live and work • London received 19.8 million international visitors staying overnight in 2017, generating £12bn annual revenue • The capital is home to over 70% of FTSE Top 100 companies and 75% of Fortune Global 500 Companies have offices in London • London accounts for 17% of the total UK student population and 32% of the UK’s foreign student population. Four out of the UK’s top ten universities are located in the capital • British tech business attracted $7.8bn of funding in 2017, London is the largest tech sector hub in Europe with Google, Amazon, Facebook and Apple remaining in the city • London residential market appeals to both international and domestic buyers with more than 80 nationalities purchasing property in London in 2017

7 8 SE1 Elephant & Castle

Elephant & Castle is undergoing a £3bn regeneration programme. The next 15 years will include:

• Creation of a new pedestrianised town centre • Market square • 5,000 new and replacement homes • Up to 450,000 sq ft of retail space through redevelopment of Shopping Centre • Integrated new public transport hub • A new 2 acre park – the largest new green space in for 70 years

9 10

British UCL Museum Cass Business Liverpool Oxford Circus School MIDTOWN Street

Location WEST END Bank St Paul’s Cathedral THE CITY

Circus Blackfriars

MAYFAIR Tower Hill

Tate Modern Charing Cross London Southwark Green Park Tower The St James's Park

London South Borough White Cube Gallery Bank University Westminster Abbey WESTMINSTER Victoria River Thames Palace Imperial War University of Museum The Arts Elephant & Newport Street Castle

Gallery

Tate Britain

Pimlico Saatchi Gallery CHELSEA KENNINGTON Vauxhall

The Oval

River Thames US Embassy Kennington Burgess Park Park Power Station

Battersea Park 11 12 13 14 Lifestyle, Culture & Leisure

SE1 includes Waterloo, & Elephant & Castle and some of the most visited tourist landmarks in London

• These areas are home to many of London’s key cultural sights including , Shakespeare’s Globe, London Eye, The Shard, and •  is in close proximity to the north west of the site • London South Bank provides an extensive cultural offering with , IMAX, National Theatre and • Ministry of Sound - a world class music venue - is located in Elephant & Castle • Mercato Metropolitano is a sustainable food market with extensive UK and Italian artisan offerings. The space also hosts popup events for the local community • Popup venues nearby include Backyard Cinema and The Artworks providing a wide range of restaurants and vibrant leisure amenities

15 16 Oxford Circus Moorgate Covent Garden

Green Park Transport & Bank Connectivity Charing Cross Excellent transport links demonstrated by the site's PTAL rating of 6b Westminster • Elephant & Castle station is located approximately 200m to the south west of the site Victoria • The station provides access to London Underground Bakerloo and Northern lines, as well as National Rail services • Multiple bus routes run from a stop outside of the building along Newington Causeway and London Road to the south west • Extensive cycle routes adjacent to the site further highlight the Waterloo London Bridge excellent site location and connectivity Lambeth North

Journey Times from Elephant & Castle Station Borough Elephant Bank 7 minutes & Castle Farringdon 9 minutes

Blackfriars 10 minutes

Canary Wharf 13 minutes Vauxhall

Oxford Circus 14 minutes Extension scheduled for 2028 / 29 King's Cross 21 minutes Old Road

Source: .

* Kennington

Clapham Junction

Stockwell

*Scheduled to open in 2020. Source: Transport for London. Gate Excerpt from London Underground map. 17 18 The Site

101 Newington Causeway is a 0.26 hectare site. It is situated at the northern gateway to Elephant & Castle Opportunity Area

• The site occupies a corner position on the junction of Newington Causeway and Rockingham Street • The existing site comprises a 10 storey building with basement, and is currently occupied as office premises for the Territorial Headquarters of The Salvation Army UK • The site also houses Salvationist Publishing & Supplies (SP&S) a five storey building located off Tiverton Street which is the publishing house for TSA with an ancillary retail shop • The third building on-site is single storey providing staff facilities including prayer room and band practice hall • Existing total gross internal floor space of the three buildings is approximately 8,446.7 sq m (90,918 sq ft) with a breakdown by building provided on the measured survey in the dataroom • The Salvation Army have been in occupation of the building since 1998 when the Territorial Headquarters (THQ) administration moved from the City of London to 101 Newington Causeway • The building was originally constructed in 1982 • The site boundary is bordered by Newington Causeway to the west, and the recently completed ‘Pioneer Building’, a 22-storey residential tower to the north • Tiverton Street is located on the eastern site boundary, together with the railway viaduct and the Rockingham residential estate. Immediately to the south is the , a Grade II listed, Erno Goldfinger designed residential development completed by St George in 1997 • Cycle and car parking spaces are also provided at the rear of the site at ground level

19 20 21

Waterloo

Holborn

South Bank

Farringdon

Barbican 22 Moorgate 39 Storey tower 630 student beds or 238 apartments c. 250,000 sq ft GIA

The Opportunity Proposed Scheme Overview 14 Storey B1 commercial tower 101 Newington Causeway offers the c. 76,000 sq ft GIA opportunity to create a landmark residential-led, mixed use scheme in an improving Zone 1 location

Computer generated image of pre-application scheme looking south

23 24 • This proposal provides 238 residential • Block B provides circa 7,080sqm (76,207 units in Block A, a 14 storey commercial sq ft) GIA of office floorspace across building in Block B with retail units at basement, ground and 13 upper floors ground floor level • Each floorplate would comprise • 238 proposed residential apartments approximately 441sq m (4,746 sq ft) and a totalling 23,314sq m (250,956 sq ft) GIA floor to ceiling height of circa 3.75m within Block A • Across ground floor level of Block A and • Proposed scheme arranged over Block B, 310 sq m (3,333 sq ft) GIA of basement, ground and 38 upper floors flexible A1-A5/D1/D2 retail is proposed located on the southern part of the site to activate street frontages, particularly along Newington Causeway • Indicative layout of Block A provides 8 units per floor around a central core with 4 x 2 • The central area between both buildings beds and 4 x 1 bed units, with each unit proposes a high quality landscaped area having private external amenity balconies where members of the public, including pedestrians and cyclists can access and • The upper levels provide larger 3 bed use as a public realm/open space units, with some of these units having access to landscaped roof terraces/ gardens Residential Scheme Unit Mix • There are communal residential amenity spaces within the building at the lower Unit Number of Average and mid-level floors, including child play Type Units Unit Size Residential space areas 1 bed 104 (44%) 52 sq m Scheme 2 bed 120 (50%) 70 sq m 3 bed 14 (6%) 100 sq m

Total: 238

Summary of Indicative Residential Led Scheme Proposals

Proposed Division of Site by Use GIA sq m GIA sq ft Units building

Residential (C3) 23,314sqm 250,956 sq ft 238 Block A (39 storeys)

Office (B1) 7,080sqm 76,207 sq ft Block B (14 storeys)

Retail (Flexible A1-A5/ Blocks A&B ground 310sqm 3,333 sq ft D1/D2) floor

Total: 30,704sqm 330,497 sq ft

25 26 Floorplans Residential

Ground Floor Upper Floor

North North

K / D / L Bed 2

Residential Cycle / Bed 1 Bed 2 Refuse Store

WC K / D / L Bed 3 WC Lobby Lobby Retail Unit 2 Circulation Circulation Plant Bed 1 Lifts Lifts Roof Garden Bed 1 Stairs Concierge / Stairs Office Lobby WC Lobby Bed 3 WC K / D / L

Reception Bed 1 Bed 2 Retail Unit 1 K / D / L Bed 2

Main Entrance

Rockingham Street

Lower - Mid Floor Penthouse Floor

Bed 2 K / D / L K / D / LKBed 1 / D / LK / D / LKBed 1 Bed 2 / D / L Bed 1

WC Roof Terrace Bed 3 LobbyWCWC Lobby Lobby WC Bed 2 Lobby Lobby Circulation Circulation

Bed 1 Bed 1 WC Lifts Lifts

WC Bed 1 Bed 1 Stairs Stairs Lobby Lobby Bed 2 LobbyWCWC Lobby Lobby Bed 3 WC Roof Terrace

K / D / LKBed 1 / D / LK / D / LKBed 1 Bed 2 / D / L Bed 1 Bed 2 K / D / L

27 28 Computer generated image of pre-application scheme from Newington Causeway. 29 30 • This proposal provides 630 student • Block B provides circa 7,080sqm (76,207 beds in Block A, a 14 storey commercial sq ft) GIA of office floorspace across building in Block B with retail units at basement, ground and 13 upper floors ground floor level • Each floorplate would comprise • 630 proposed units / beds for student approximately 441sq m (4,746 sq ft) and a accommodation totalling 24,363 sq m floor to ceiling height of circa 3.75m (262,249 sq ft) GIA within Block A • Across ground floor level of Block A and • Proposed student scheme arranged over Block B, 310 sq m (3,333 sq ft) GIA of basement, ground and 38 upper floors flexible A1-A5/D1/D2 retail is proposed located on the southern part of the site to activate street frontages, particularly along Newington Causeway • Indicative layout proposes two x 10 bed cluster flats around a central core • The central area between both buildings proposes a high quality landscaped area • The proposed layout would have no single where members of the public, including aspect north facing units and the common/ pedestrians and cyclists can access and amenity rooms would be strategically use as a public realm/open space located on the corners of the building benefiting from views to the city centre and . Student Scheme Unit Mix • It is intended that amenity/facility spaces (e.g. gym, games rooms, sky lounge) would Unit Number of Average be incorporated throughout the building in Type Units Unit Size Student strategic locations Standard 498 (79%) 13 sq m Scheme Studio 132 (21%) 25 sq m Total: 630

Summary of Indicative Student Led Scheme Proposals

Proposed Division of site by Use GIA sq m GIA sq ft Units building

Student Accommodation 24,363sqm 262,249 sq ft 630 Block A (39 storeys) (Sui Generis)

Office (B1) 7,080sqm 76,207 sq ft Block B (14 storeys)

Retail (Flexible A1-A5/ Blocks A&B 310sqm 3,333 sq ft D1/D2) ground floor

Total 31,753sqm 341,790 sq ft

31 32 Floorplans Student

Ground Floor Upper Floor

North North

Room 5 Room 4 Kitchen / Studio Studio Common Room Student Cycle / Refuse Store WC WC WC Room 3 Circulation

Retail Unit 2 StorageStorage Room 2 WC

WC Plant Room 1 Roof Garden Room 1 Lifts Stairs Lifts Stairs WC Concierge / WC Office / Post Room 2

Room 3 WC WC WC Retail Unit 1 Reception Room 5 Room 4 Kitchen / Studio Studio Common Room Main Entrance

Rockingham Street

Lower - Mid Floor Amenity Floor

WC Room 8 Room 9 Room 10 Kitchen / Student Storage / Storage / Student Studio Studio Common Room Amenity WC WC Amenity Room 7 WC WC WC WC WC Room 6 Room 1 Circulation Circulation Storage Storage Room 5 StorageStorage Room 2 WC WC

WC WC Room 4 Room 3 Student Student Amenity Amenity Room 3 Room 4 Lifts Stairs WC Lifts Stairs WC

WC WC Room 2 Room 5

Room 1 Room 6 WC WC WC Student Student Room 7 Amenity Amenity Kitchen / Room 10 Room 9 Common Room Studio Studio Room 8 WC

33 34 Floorplans Block B - Commercial

Ground Floor Upper Floor

North North

Retail Unit 3

Lift Office Lift Stairs Stairs Reception Office

Main Entrance WC Plant / Refuse

Waiting Area

Block B office building is the same on both student and residential pre-application scheme options.

35 36 Alternative Uses Lower - Mid Floor North

Room 7 Room 11 Room 8Room 9Room 10 Hotel & All Office Potential Room 6 Room 12

• The site has potential for alternative uses • Commercial B1 led scheme with capacity Circulation including hotel or commercial use on-site. for up to 20,620 sq m (221,962 sq ft) GIA Room 5 Linen Vending Room 13 • Hotel capacity for 612 bed hotel with • Further details on these indicative outline envelope of 24,363 sq m (262,249 capacity studies are available via the Room 4 Room 14 sq ft) GIA project website. Lifts Stairs Room 3 Room 15

Room 2 Room 16

Room 20 Room 19 Room 18 Room 1 Room 17

Indicative Hotel Scheme Layout

Ground Floor Upper Floor

Room 4 Room 1Room 2Room 3 Plant

Linen Room 5

Circulation Goods Kitchen Store Retail Unit 2 Linen Vending Room 6

Bar Store

Room 7

Lifts Stairs WC Staff Lifts Stairs

Office Room 8

Room 9 Retail Unit 1 Reception / Foyer

Room 13 Room 12 Room 11 Room 10 Main Reception

37 38 Floorplans Indicative All Commercial Scheme in Block A

Ground Floor

North

Retail Unit 2

Retail Unit 1 Plant / Refuse

Lifts Stairs

WC Security / Office

Reception

Waiting Area Main Entrance

Office

WC

Lifts Stairs WC

WC

Office

39 40 Planning

The site’s location means a wide range of designations are applicable to the site within the London Borough of Southwark planning policy. Savills Planning have outlined the following adopted designations which apply to the site:

• Within Central Activities Zone (CAZ); the south of the site as this had a better relationship with the neighbouring Eileen • Within Elephant and Castle Opportunity House, and that further exploration of the Area (OA); ‘splitting’ of the blocks should provide an • Within Elephant and Castle Major Town additional link or landscape space Centre;

• Within Enterprise Area and Area Core of Pre-Application August 2018 the E&C OAPF; • Within Borough, Bermondsey and Rivers The formal pre-application meeting was Archaeological Priority Zone; undertaken with London Borough of Southwark in August 2018 • Within Flood Zone 3; Full details of London Borough of Southwark • Within an Air Quality Management Area; response to pre-application are available on • Adjacent to Newington Causeway, a the project dataroom. The pertinent areas of Classified Road A; regarding the redevelopment of the site are outlined below: • Not statutorily or locally listed, although opposite is the Grade II listed Metro • LB Southwark are fully supportive of a Central Heights, and further to the south comprehensive redevelopment of the site of the site is the Grade II Listed Michael • Both the planning and design officers have Faraday Memorial; and confirmed a tall building on this site is • Subject to an Article 4 Direction which acceptable in principle, subject to detailed withdraws ‘permitted development’ rights design for office to residential • Large scale residential and office development of the site is acceptable In addition to the adopted designations listed • The layout of the proposals was generally above that are due to be carried over to the considered acceptable New Southwark Plan the site is subject to: • Officers advised that in light of the • Draft site allocation NSP45: Salvation surrounding existing and emerging Army Headquarters, Newington Causeway context, it was considered there was no (“draft site allocation NSP45”) identified significant harm to the adjacent listed for a large-scale mixed use redevelopment building to include residential and commercial uses The indicative scheme submitted for pre- • The overall feedback from LBS officers application has only been reviewed by London from initial high level engagement with Borough of Southwark. Any design proposal of senior officers in 2016 highlighted the this scale would also be required for review by preference to locate the tower element to Authority

41 View from 11th floor of existing building 42 Tower Bridge Tower

Sales Process & Deal Structure

• 101 Newington Causeway is held freehold. As a charity the vendor is required to run an open and transparent marketing campaign and the site will be sold by a two stage informal tender process • The first stage will be to invite interested parties to submit an Expression of Interest by a fixed deadline to be confirmed • Further to the Expression of Interest, a shortlist will be invited to participate in the Tender stage • The vendor is not obliged to accept the highest or any offer and all submissions will be fully considered • Further details of the information required to submit an Expression of Interest will be made available on the project dataroom in due course

05 43 44 Elephant & Castle Market Comment

Market Research & Overview • More than £3billion is being invested • Compared to the 2007/2008 peak, prices in into the regeneration of Elephant & Southwark have increased by 178% - the Development Pipeline & Local Schemes Castle, including new homes, improved third highest of all London boroughs after infrastructure and the potential for 10,000 Hackney and Waltham Forest new jobs • The area is forecast to see house • The proposed prices increase by 10.2% over the from Elephant & Castle would improve next five years connectivity throughout south east London • The population of Southwark is forecast as well as an opportunity to upgrade to increase by 11% over the next 10 years, Elephant & Castle station itself according to Oxford Economics • 30 schemes across the postcode districts • Three university campuses are located of SE1, SE11 and SE17 currently have within Southwark. These include two planning permission, with the potential to colleges of The University of the Arts deliver almost 5,000 private units over the London, Guy’s Hospital, teaching hospital next 5 years for King’s College London) and London • House prices in Southwark have increased South Bank University, which have over by 62% over the last 5 years, compared to 17,000 students 53% on average across London Source: Savills Research

45 46 Elephant Park 251 Road Lendlease Oakmayne

• Lendlease has been working in partnership with Southwark Council to deliver a £2.3 billion regeneration project in Elephant & Castle since 2013 • The project will deliver 3,000 new homes in the town centre (25% affordable housing) • 6,000 new jobs (5,000 in construction and 1,000 in completed development) • Creation of a 2 acre new park – the largest new green space in central London for 70 years • Space for over 50 new shops, restaurant and cafés, including affordable retail space • Up to 50,000 sq ft of workspace • Phased delivery of site with practical completion of masterplan due in 2025

Elephant & Castle Shopping Centre Delancey

• The new Shopping Centre is a mixed-use redevelopment of the existing Elephant & Castle Shopping Centre and London College of Communication sites • The scheme will comprise 979 residential units to rent across 2 phases, over 170,000 sq ft of new retail and leisure space, a 1,000 seat multi- screen cinema and a 500 audience capacity cultural venue. • 251 is a 41 storey • The site includes 48,000 sq ft of office/ residential tower comprising 273 private educational/ health uses (Use Class B1/D1) • The developer will also build a new university units and 65 intermediate apartments and retail use (Use Class A1-A5) campus for London College of Communications • There is residents’ gym, private cinema, • The scheme will also provide a new station dining area, residents’ garden and entrance with escalators for access to Northern restaurant & Bakerloo line underground within the site

47 48 Contacts

Further Information Viewings

All further information about the All internal viewings are strictly opportunity is available via the by appointment only via the sole Further project website at: selling agents. Please contact any of the agents listed on this www.101newingtoncauseway.co.uk Information brochure to arrange a viewing. Contact Technical Andrew Cox Oliver Fursdon Director Director A full suite of technical information is provided in the dataroom Residential Development Land Commercial Development and includes: [email protected] [email protected] +44 (0)20 7016 3851 +44 (0)20 7409 5900 • Full pre-application submission • Technical Reports Lucy Robbie Jemma Aitken Quack Associate Associate Director • Existing Measured Surveys Residential Development Land Commercial Development • EPC [email protected] [email protected] • Title Documentation +44 (0)20 7409 5988 +44 (0)20 7409 5974

• Legal Development Summary document Richard Dawes Lizzie Beagley Director Director Hotels Agency Residential Capital Markets Tenure [email protected] [email protected] +44 (0)20 7409 8106 +44 (0)20 7016 3863 101 Newington Causeway is held freehold and registered under title number SGL285309.

VAT IMPORTANT NOTICE Savills and their clients give notice that: The property is elected for VAT. 1. T hey are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Brochure prepared September 2018. Design & print by GQ. gqdesign.com

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