FREEHOLD FOR SALE
POTENTIAL REDEVELOPMENT OPPORTUNITY FOR A MIXED-USE SCHEME OF RESIDENTIAL AND COMMERCIAL USES (B1 & B8 USE CLASSES). RAINHAM R
O
AD NOR
TH
PLANNING ADVICE HAS BEEN SOUGHT FROM THE LOCAL AUTHORITY FOR A MIXED-USE, RESIDENTIAL-LED DEVELOPMENT TO INCLUDE 455 RESIDENTIAL UNITS AND COMMERCIAL SPACE
SITUATED ON A PROMINENT CORNER AT THE JUNCTION OF RAINHAM ROAD SOUTH,
OXLOW LANE OXLOW LANE AND DAGENHAM ROAD
RAINHAM R CURRENTLY USED AS A DISTRIBUTION CENTRE REXEL AND TRADE COUNTER WITH ASSOCIATED WAREHOUSING AND OFFICES O AD S
OUTH SITE COMPRISES 6.13 ACRES (2.48 HECTARES)
FREEHOLD FOR SALE WITH VACANT POSSESSION
UNCONDITIONAL OFFERS INVITED
W
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O MANCHESTER WAY AD
ATE USTRIAL EST STERLING IND Site plan for indicative purposes only and not to scale.
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O A RO CHIGWELL NE WOODFORD WELLS OUR A AMB Hainault Forest A A L RODING VALLEY H A L A L AD I I NEW RO N H
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E L A T R E T R N CHINGFORD HATCH C O E A H L IN L A G A G D GRANGE HILL L R F N L O K A A R
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A E R D D E R A R O G A D W D WOODFORD A R D A L A ROA T O OR H F AN A D M M O GRANGE HILL S D T A CHASE CROSS O O HIGHAMS PARK O W
W R D L HAINAULT A A L E V HIGHAMS PARK O E R W
N G H I U WOODFORD H G E I C H N O R TH C F I E R HAINAULT A C N D U A WALTHAM C L A D O HALE END E B R R A R R OA WOODFORD BRIDGE P S O O DM I S R E E A A O D A D C R R RO C A E E D E S R A FOREST T CH S COLLIER ROW O ROMFORD ROAD E WOODFORD GREEN A H REPTON PARK D D C A A A N O I R W D AD G A O N O W R I R RO R L IER E L OLL RISE PARK C V AD E ULAR RO A NORTH CIRC W H G I H BILLET ROAD C FAIRLOP ST WALTHAM EA F 1 UE U 1 FAIRLOP VEN FOREST L C A H N B O ER I M Fairlop Plain T O G S A L EA U L H A I R E R N R O
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O FULLWELL CROSS E R A S W OU E TH T SOUTH WOODFORD E E HIGHAM HILL N N D E R R D D O R A T A D S O CLAYHALL H A FO R L G D SOUTH WOODFORD L WE I O G H HI H O ROAD C T T R ES W OAD R O D R FO AIN
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E N W E B W O E L E O A D T T O C M F K H O R O REDBRIDGE E ALDBOROUGH HATCH O D R D
R S H D A S T A O A E R R U E V EN E K V A ROMFORD R A
WALTHAMSTOW CENTRAL E E
SNARESBROOK N O N EASTERN AVENUE W T ES O ER T A AD U O T LITTLE HEATH E R AS B E N SNARESBROOK A R A ST JAMES STREET A C REDBRIDGE NEWBURY PARK WALTHAMSTOW QUEENS ROAD AD O A A R E W H B G H
D IP O E I P
S E R L C WANSTEAD H B RO L A CHADWELL HEATH ROMFORD
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E S N A V NEWBURY PARK B R V R E E N L O ST N REDBRIDGE E A U A U A E E L GANTS HILL D L S N R O A ONDO AD
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WANSTEAD E LOCATIONH E A A L A
I GANTS HILL R A R L
L K A H B A O A HEATH PARK A U S A E R O A LEYTON R D O A The site occupies a prominent corner at the junction of Rainham Road M A A V A W L L H E A Y B L W
L A E
South, Oxlow Lane andA Dagenham Road, the site is on the SEVEN KINGS A B Y K CHADWELL HEATH O
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H R LEYTON MIDLAND ROAD E A A L N L AD A L B O north-westernLEYTONSTONE edge of the Sterling and Wantz Industrial Estate within R N R H R G CRANBROOK I E RUSH GREEN O H O A HOR S NC N O HU AD A O RCH RO O AD D K RO GOODMAYES U EN R E R R T T G O H the London Borough of Barking and Dagenham. OxlowH Lane and H US A R C I D AD C LEYTONSTONE R O H A C R U U SEVEN KINGS E A G R L C A D I Dagenham Road form an east-west route connecting Beacontree BECONTREE HEATH H R R B A A R A R E O E L O F GREEN LANE AN A R A L D A LEYTONSTONE HIGH ROAD D OD N O C W IS and Romford. Rainham Road North and Rainham Road South are R GRE A O EN LANE H A D ALDERSBROOK I G D B E H A U A N O P R busier distributor roads connectingL Goodmayes and Chadwell A R R D N GOODMAYES A P O E N R E IN E A E S T R D B H D E T R A A A ILFORD R O R S M L G O A C O E A C R E T K A I H R O V A A N Y O L R
Heath to the north andE South Hornchurch and Rainham A L O T R R MANOR PARK S REXEL H A O T D G O OAD HARRO R D A N R W L L
A T L W I N M D O R H E
O N R O R D E L R NEW A E
A R A O
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L A Wanstead Flats ILFORD E
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to the south. H D A S
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LEYTON A A T RO R L A L MARKET O AD E
H D M D K S O A T O C D M W HACKNEY MARSH U D R E O S R I A O There are a numberR of schools within a mileV of the siteA including G O E A D A OXLOW ELM PARK Eastbrook School, Trinity School and RichardMANOR PARK Albion School as L ANE R A A A I L H I WANSTEAD PARK N F E CLAPTON PARK O H A AM R T D D well as Barking and Dagenham College. A number of leisure A H D L O W R OA LITTLE ILFORD R TON R O MER A A E A G A O Y N ID A A H A WOODGRANGE PARK R Y D W E GB BECONTREE T FOREST GATE N S S O E O A L U E facilities and green spaces are located nearby. A football ground, U LOXFORD N E T H B V R A L O S ELM PARK R E W EET Y E TR E AD T H S T T cricket club and a sports and socialRO club are located withinN a IG OU O RD R
H R O I HO N S F N
MERTO OS N ROM PO R FOREST GATE H G
C R
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S STRATFORD NEW TOWN MARYLAND G
A A H O E D A REEDLE LANE
S 10-minute walk. Nearby green spaces are similarly closeD by DAGENHAM EAST T
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K ROAD WIC STRATFORD INTERNATIONAL N offering parks, nature reserves and lakes for localO residents. R A A HACKNEY WICK T D H DAGENHAM HEATHWAY OA BECONTREE R E ND A AD DAGENHAM LA S STRATFORD RO SS T STRATFORD A EF A LI C C E RE
R K ENU N D E R E V E
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N A T S A N T E R BARKING O
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G G E N IN T A U R E
E E H G O E H T R S N U T D I A E O A A E L G P EN A N A P N H
R A AM R U D E R A S O A A STRATFORD HIGH STREET C UPTON T V D I EAST HAM A B D R A D
A V E B A O E R AD E E O RK ET RO T Y BARKING G R PA A SH S POR LA A D A TWAY P R I D R O O O R T RO D IC PPLE A L V RI A UPTON PARK A L DESCRIPTION A D L VICTORIA PARK N A STRATFORD MARSH A B T O A A E R OLD FORD E T R T H P UPTON PARK A
S C AD A PUDDING MILL LANE A O H I R R R A D N G OR I WALLEND C F E H D WEST HAM U E RO L L SS IPPL AD O L L A R A A P A G EAST HAM BY R G R N R O ABBEYThe ROAD existing buildings on site are separated into two distinct KI R O A R A D B D O D V N A M A A A E PLAISTOW H O ST R D A R E O HIG AY R H AD W SOUTH HORNCHURCH A RO S footprints.O On the southernS boundary,G the linear warehousing ED BOW T IN R D N R ARK ALF E B A ET M A A C AD E D H O N A I R G N A T RO A R K D MILL MEADS R H M PA DAGENHAM DOCK is terminated at the east with a three storeyA L office building and A O RANCLI FFE R WEST HAM ROA S D O
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returns to the west, increasingE to 5-6 storeys and providing two A BOW ROAD S T
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A B levels of warehousing. The building to the northern boundary is A L MILE END L OAD A EW R A N C B NEWHAM MARSH WAY K DISTANCES BROMLEYBYBOW W A A used as warehousing with office space arranged over two floors. L
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E The total site area is 6.13 acres (2.48 ha). Y L STAR LANE A W RAINHAM N AM P H O W BARKING RIVERSIDE R NE R I RAINHAM N D BROMLEYT
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E TOWER E O
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N E WEST HAM The site is well served by public transport with excellent connections S VICTORIA BLACKFRIARS UPMISTER
G K A
E P A C N P BECKTON O CREEKMOUTH T A AY R Y D W A W D O M HAMLETS HA L OA S BOW COMMON EW R L N L
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P via bus and tube. Dagenham EastN Underground Station is located BEN C ST Y
H E O B 49 43 36 21 10 0 9 R U BECKTON MINS MINS MINS MINS MINS MINS MINS R A D LANGDON PARK E to the south of the site, providing District Line services into Central T ABBOTT ROAD
T CANNING TOWN R
O A MONUMENT DAGENHAM
BARKING A D London.A Bus services on Rainham Road and Dagenham Road are EAST LIMEHOUSE POPLAR CANNING TOWN CUSTOM HOUSE CYPRUS ALL SAINTS served by the 103 and 364 services. LIMEHOUSE S RATCLIFF I CUSTOM HOUSE GALLIONS REACH L LOWER LEA CR V BECKTON PARK OSS E ROYAL VICTORIA A CYPRUS EAST INDIA ING R R T ROYAL ALBERT OYAL ALBERT WAY WESTFERRY O W
N A BLACKWALL W PRINCE REGENT A A POPLAR BLACKWALL Y AY W AL WEST INDIA QUAY R C T A N R ROT E LY HER C L HIT E H LONDON CITY AIRPORT R E O EASTERN WAY
A CANARY WHARF D
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A THAMESMEAD A WEST SILVERTOWN O KING GEORGE V
R A PONTOON DOCK HERON QUAYS S
CANARY WHARF N O T S A E REXEL AL A R 3 B ERT P R WEST THAMESMEAD ROTHERHITHE SOUTH QUAY NORTH GREENWICH OAD NORTH WOOLWICH Y A SILVERTOWN A A N W Y R H WA EASTE
A ERN A R ST E R W O
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W G E E S A T W AD Y RO F BELVEDERE A F E IF M ROYAL ARSENAL WEST Y R R D A B E R E R Y N R PICARDY MANORWAY
R C T E H EE S O RCH STR F E U O ABBEY WOOD A A H S W C R D T OOL ICH D WER ROAD SURREY QUAYS MILLWALLCUBITT TOWNE W Y RO LO R STR ABBE AD A EE ABBEY WOOD A H W R T OAD G R U A O STEAD Y PLUM LO A P PLUMSTEAD D NEW CHARLTON MUDCHUTE WOOLWICH ARSENAL WOOLWICH DOCKYARD
E OAD
N P R L EOD A U CL A MS M K L T G E AD N L H R I E L D GH E O ISLAND GARDENS A S T A RO TR H E H R V IC WOOLWICH ET W LW CH ITH ROAD U A O I R E O A E K W L LESNES ABBEY N E R L C L D S IL A T A L H A R L E E Y E B WOOL T WI S E CH ROAD BOSTALL HEATH V R CHARLTON AD E H A O L O Y T R A A F ERITH N D E H R D A C A S H A I S T RO WESTCOMBE PARK B E R E W R R A L O L ROA E G T S O LESSNESS HEATH D E AL PLUMSTEAD T O T F IT ALL W A L HILL A W TR A MAZE HILL I UPPER BELVEDERE C Q K U H E ERITH CUTTY SARK A E A CHARLTON N PLUMSTEAD COMMON M S
LA BOSTALL WOODS R S AD N O A EEK RO E D A CR A D N DEPTFORD WEST HEATH F D A O O A R RLTON A O HA R C Y R E D
L N GREENWICH DEPTFORD A X
E M GREENWICH R B
O GREENWICH N BRUGH PARK Greenwich N D NORTHUMBERLAND HEATH A V A O
R NEW CROSS Park
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M E NEW CROSS GATE H A YD D DEPTFORD BRIDGE E D A VA OA A L ILL R C H A E TERS SHOO N CHARLTON WAY D O E A R N O T R SLADE GREEN A H L HILL S L
H E E E BL EAT L W ACKH A N A M
I D S A H W SLADE GREEN A F DO EAST WICKHAM H R M V E SHOOTERS HILL K O Blackheath O R R W O C A
E AD I C S
NEW CROSS A H D
O W Y N O NORTH END
I TE RS R R HILL
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M Chadwell Heath (new Crossrail station MARKET and 3,000+ new homes). Dagenham has seen house price growth of 15% COMMENTARY over the last 24 months, with average apartment values £25,000+ above the national average. RESIDENTIAL Land in the outer London Boroughs INDUSTRIAL has been increasingly in demand as The logistics market is inevitably moving pressure to deliver London Housing towards a new norm in terms of speed under the Mayors London Plan targets. of delivery as consumers increasingly Those London Boroughs with improving require shorter delivery time, immediacy, infrastructure, transport links and major or even bespoke delivery slots when regeneration areas have been the focal purchasing online. A combination of point in terms of meeting these targets. factors including population growth, More than 35,000 new homes are urbanisation, higher density living and proposed to be built in the borough further growth in e-commerce, will create over the next 20 years, which in turn extra demand for last-mile logistics units, will create high-value opportunities particularly in locations in, and around in the retail and leisure sectors. the M25 motorway. Population growth through new housing and a rising birth rate, as well as an The Barking and Dagenham market, increasingly diverse population, bring however, saw a drop in demand new opportunities for markets and a built- in 2018 to a total of 162,000 sq ft in opportunity for real sales growth. take-up versus the circa 340,000 sq ft transacted in 2017. Rather than Barking and Dagenham offers some a slowdown in occupier appetite for of London’s most affordable brownfield the area, the lack of available units development sites, as well as highly in the market is believed to have competitive office, retail, industrial and hampered activity as occupiers were commercial space. Major investment left with very limited, if not any, options is already flowing into the borough to fulfil requirements. In fact, as of the with major development schemes such end of December 2018, Barking and as; Barking Riverside (10,000+ new Dagenham market had a vacancy rate homes and services), Beam Park (3,000 of 2.8%, drastically down from the new homes and 1,000 new jobs) and previous peak of 13.5% in 2012.
4 REXEL PLANNING PRINCIPLE OF PROPOSED POTENTIAL USE DEVELOPMENT Local Authority support in principle following pre-application advice for a mixed-use, residential-led TOTAL RESIDENTIAL UNITS development including 455 residential units and The Council’s Core Strategy makes clear at Policy EC3 2 associated commercial uses. that the partial release of sites within a designated Locally 1B2P 159 50m 35% Significant Industrial Site will be considered acceptable 2B3P 69 63m2 15% The site forms part of a wider area that is designated where it can be demonstrated that the remaining part 2B4P 159 70m2 35% as a Locally Significant Industrial Site (LSIS). The northern of the designated site will be more intensively developed edge of the site is subject to a Tree Preservation Order, to ensure no net loss of employment provided. 3B5P 68 86m2 15% and the site is adjacent to the Eastbrook Neighbourhood 455 100% Centre. The proposed scheme has also had regard to the proposed policies relating to industrial land in the AREA As the site is used predominantly for warehousing, with new draft of the London Plan. Gross Residential Area 36,892m2 (382,188ft2) a small element of the site being used as an ancillary Net Residential Area 29,279m2 (315,159ft2) trade counter, it is considered to fall within Class B8 Supporting the viability of the scheme, whilst also of the Town and Country (Use Classes) Order 1987 contributing to another Borough priority, the proposals Residential Net to Gross 79% (as amended). It is therefore understood to be within incorporate a range of new market and affordable COMMERCIAL
a lawful “storage and distribution” use. homes. The exact amount of market and affordable 2 2 housing proposed would be agreed subject to detailed Light Industrial 7,000m (75,347ft ) financial modelling of the scheme for which permission B8 Storage 7,700m2 (82,822ft2) was sought. B1 Office (Excluding Parking) 7,000m2 (75,347ft2) Total 21,700m2 (233,577ft2) SCALE & HEIGHT PARKING PTAL Rating 3 Residential Disabled Parking 49 The site offers significant potential for increased height where this relates effectively to the street. The wider area Total Residential 261 (57%) also includes a number of medium-rise buildings with Parking large footprints. B1 Space Parking 21 B8 Storage Parking 17 Light Industrial Parking 52
5 REXEL VIEWINGS ARE AVAILABLE STRICTLY BY PRIOR APPOINTMENT THROUGH SOLE AGENTS COLLIERS INTERNATIONAL. For any additional information on this sale please speak to one of the following in the Colliers Residential Development department; ANDREW WHITE Residential Development 020 7344 6722 [email protected]
JAMES BURKE Residential Development FURTHER METHOD TENURE 020 7344 6964 INFORMATION OF SALE Freehold with delayed Vacant Possession. [email protected] An information pack has been prepared The subject property is for sale via informal MEGAN ORR as part of this sale to include but not limited tender with a bid date to be announced GUIDE PRICE Residential Development to; title information, historic planning pack, by sole agents Colliers International 020 7344 6527 updated planning note and surveys. in due course. Offers in excess of £18,000,000. [email protected]
All details can be accessed from the The Vendor has requested that all offers AKHTAR ALIBHAI dataroom www.rexelRM10.com are unconditional of planning and the VAT Industrial and Logistics Vendor is not bound to accept the highest 020 7344 6583 and/or any offer. VAT will be chargeable on the purchase [email protected] price at the prevailing rate.
DISCLAIMER: Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. (05/19). Colliers International is the licensed trading name of Colliers International Business Space UK LLP which is a limited liability partnership registered in England and Wales with registered number OC391631. Our registered office is at 50 George Street, London W1U 7GA.
6 REXEL