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Office Led, Mixed Use Development Or Refurbishment Opportunity Cgi of Consented Scheme

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OFFICE LED, MIXED USE DEVELOPMENT OR REFURBISHMENT OPPORTUNITY CGI OF CONSENTED SCHEME EXECUTIVE SUMMARY AN OPPORTUNITY TO ACQUIRE AND DEVELOP A FREEHOLD SITE WITHIN THE HEART OF ISLINGTON AND IN CLOSE PROXIMITY TO ANGEL TUBE STATION, WHICH WILL BE OF SIGNIFICANT INTEREST TO DEVELOPERS, INVESTORS AND OWNER OCCUPIERS. Freehold Well connected tube with Angel, which will benefit from Crossrail 2, and Old Street Located within a vibrant and exciting ‘tech belt’, 400 metres south of Angel Underground station, with a unique offering of leisure, retail and social opportunities The property currently comprises approximately 22,364 sq ft (GIA) and 18,281 sq ft (NIA) of office accommodation over ground, first, second, third, fourth and fifth floors Offered with vacant possession Planning permission granted for a new build mixed use scheme comprising a total 33,056 sq ft (NIA) of office space, and 4,908 sq ft (NSA) of residential accommodation across 8 units The total consented area is 37,964 sq ft (NIA) / 44,530 sq ft (GIA) Offers invited, subject to contract and exclusive of VAT An interactive video offering outstanding views of the surrounding area and clearly illustrating how the proposed development will sit within this unique location is available in the dataroom 3 2 CGI OF PROPOSED 328 CITY ROAD 4 5 THE CITY THE ST FARRINGDON CLUSTER SHARD PAUL’S LIVERPOOL STREET OLD STREET PROPOSED ANGEL BARBICAN KINGS CROSS ⟶ CROSSRAIL 2 6 7 ALMEIDA THEATRE N E L E I R V SCREEN G E ON THE R N GREEN O P T O G I N O O2 L S L ACADEMY I S ISLINGTON UPPER STREET GRANARY T SQUARE R E E CAMDEN T PASSAGE ANGEL LOCATION CENTRAL 328 CITY ROAD & 7-8 WAKLEY STREET IS PANCRAS SQUARE STRATEGICALLY LOCATED WITHIN EC1, ONE ANGEL P 6 mins S OF CENTRAL LONDON’S MOST EXCITING A H N E P C H SUB-MARKETS R KINGS CROSS PENTONVILLE ROAD 20 mins E A RD S C R E O T S S A Y S D E ITY L W K RO A AD A W ST PANCRAS L K E A S T R S A T EUSTON ROAD O J G D O SADLER’S O H S 14 mins N WELLS W THEATRE S The property is positioned within an island block bounded E T L by City Road to the north, Goswell Road to the south, R L E R E O Wakley Street to the east and Hall Street to the west. T G A R D A The property’s location provides easy access to some Y ’ S OLD STREET of London’s most popular districts, including Angel and I N S T K E Finsbury to the north, Clerkenwell and Farringdon to the N R E I N ST F N L A VA R E CI R R south, and Shoreditch and Hoxton to the east. ER O R S P T I R E E T A N O G D D EXMOUTH O The property sits within the rapidly expanding “tech N MARKET R T E belt” formed by the exciting submarkets of Kings Cross, E O R T S A D D L O Farringdon, Clerkenwell and Old Street. The site has S E T U exceptional public transport links with Angel Underground N B C E U I RUSSELL V J T Station (Northern Line) situated approximately 0.2 miles O N A Y H H SQUARE Y N I to the north west of the site, providing direct access R L R O L E ST JOHN’S A B into Bank in approximately 6 minutes and King’s Cross in R D E SQUARE O S S D W approximately 7 minutes. Old Street Station (Northern Line T A R O O R R E L L W E N L E R K E and National Rail services) is situated 0.7 miles to the south C E T east of the site. The immediate surrounding area boasts a high level of G R amenities, with the vibrant Old Street area just 15 minutes’ A FARRINGDON F BARBICAN Y A A D A ’ R walk away. In vicinity to the property, Islington High Street R O S L M R D ’ S O I I D E N CHARTER O offers an eclectic assortment of retail, bars and other social A L N R B N O G HOUSE R E S D G H G amenities including the Sadler’s Wells Theatre, O2 Academy T R SQUARE O O A A N T A T Islington, Almeida Theatre, Screen On The Green and E D E R Islington Central. This location has made it one of the most O S T A exciting and appealing locations in which to live, work and CHANCERY D socialise. LANE HOLBORN MOORGATE L O N D ON WA L L H O LB L O O R N VI AD U C T NE W G A F TE A S TR R E ET R I N G D O N S T R E E T 8 9 10 11 GROUND FLOOR 7–8 Wakley Street: 601 sq ft CURRENT ACCOMMODATION 328 City Road: 476 sq ft Central Building: 9,220 sq ft Total: 10,297 sq ft THE EXISTING OFFICE BUILDING EXTENDS TO APPROXIMATELY 18,281 SQ FT (NIA) AND COMPRISES THREE INTERCONNECTED ELEMENTS OF VARYING HEIGHTS; 7-8 WAKLEY STREET IS ARRANGED OVER GROUND TO 2ND FLOOR, 328 CITY ROAD IS ARRANGED OVER GROUND TO 5TH FLOOR AND THE CENTRAL BUILDING IS ARRANGED OVER LOWER GROUND TO 1ST FLOOR. The building shares a predominantly brick facade, with part rendering, in keeping with the aesthetic of the neighbouring buildings. 1ST FLOOR 7–8 Wakley Street: 1,510 sq ft No part of the property is listed, however 328 City Road sits within the Duncan Terrace / Colebrook Row Conservation Area. 328 City Road: 506 sq ft Central Building: 1,932 sq ft Total: 3,948 sq ft The property has been independently measured by Sterling Temple in accordance with the RICS Code of Measuring Practices (6th edition) and comprises the following approximate areas. 7-8 WAKLEY STREET NIA sq ft GIA sq ft 2nd Floor 1,489 1,683 2ND FLOOR 1st Floor 1,510 1,687 7–8 Wakley Street: 1,489 sq ft Ground Floor 601 1,028 328 City Road: 532 sq ft Total 3,600 4,398 Total: 2,021 sq ft 328 CITY ROAD NIA sq ft GIA sq ft 5th Floor 490 698 4th Floor 421 682 3rd Floor 540 672 2nd Floor 532 661 1st Floor 506 635 Ground Floor 476 533 Ground Floor Reception 33 - TYPICAL FLOOR (3RD-5TH) Total 2,998 3,881 328 City Road CENTRAL BUILDING 3rd floor: 540 sq ft NIA sq ft GIA sq ft 4th floor: 421 sq ft 1st Floor 1,932 2,107 5th floor: 490 sq ft Ground Floor 9,220 11,449 Lower Ground Floor 531 531 Total 11,683 14,086 Grand Total 18,281 22,364 *All areas are sq ft NIA Central Building 7–8 Wakley Street 328 City Road 12 13 14 15 CGI OF CONSENTED SCHEME PLANNING & CONSENTED SCHEME THE SITE HAS PLANNING PERMISSION (APPLICATION REFERENCE: P2018/0429/FUL) GRANTED FOR THE DEMOLITION OF THE EXISTING BUILDINGS AND THE ERECTION OF A MIXED-USE, COMMERCIAL-LED, REDEVELOPMENT SCHEME THAT PROVIDES A TOTAL OF 33,056 SQ FT (NIA) OF OFFICE ACCOMMODATION WITH A SMALL PROPORTION OF BASEMENT SPACE AND 8 SELF-CONTAINED RESIDENTIAL APARTMENTS PROVIDING A TOTAL OF 4,908 SQ FT (NSA) OF RESIDENTIAL ACCOMMODATION. The consented development comprises the following: OFFICE – MAIN BLOCK Floor Use NIA sq ft GIA sq ft Fourth Offices 1,830 2,282 Third Offices 3,078 3,509 Second Offices 3,380 3,810 First Offices 7,438 8,051 Ground Offices 13,261 14,068 Total 28,987 31,721 OFFICE – CITY ROAD Floor Use NIA sq ft GIA sq ft Fourth Offices 797 1,066 Third Offices 797 1,066 Second Offices 797 1,066 First Offices 797 1,066 Ground Offices 0 0 Basement Offices 883 1335 Total 4,069 5,597 *Basement includes cycle storage 33,056 RESIDENTIAL – WAKLEY STREET Floor Use NSA sq ft GIA sq ft Fourth Residential 538 1,389 Fourth Residential 538 Third Residential 549 1,561 Third Residential 678 Second Residential 549 1,561 Second Residential 678 First Residential 624 1,711 First Residential 753 Ground Storage 0 990 Total 4,908 7,212 Overall Total 37,964 44,530 DetailedDetailed informationinformation isis providedprovided withinwithin thethe 20182018 GGMLML AArchitectsrchitects DeDesignsign & AAccessccess StStatementatement (a(availablevailable inin thethe datadata room).room). 16 17 CONSENTED SCHEME - PROPOSED CENTRAL MAIN BLOCK CENTRAL MAINBLOCK & WAKLEY STREET BLOCK PLANS CITY ROAD The residential block will be constructed on the Wakley Street frontage by MAIN OFFICE way of a 5-storey infill extension. The residential element of the proposed ENTRANCE development promises to deliver high quality accommodation whilst retaining the unique period features of the surrounding buildings, utilising materials that are sympathetic to the architecture of the surrounding area. The accommodation will comprise of 5 x 1 bedroom units and 3 x 2 bedroom units, with all apartments being dual aspect and including private amenity space. There is a dedicated entrance lobby directly accessed from Wakley Street which allows access to the stair core, lift and bicycle storage. The commercial element of the scheme is divided between two elements; a 5-storey (plus basement) block fronting City Road and a larger 5-storey block within the centre of the development.
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