174—178 Mile End Road London E1 Freehold Mixed Use

Home , Cambridge Heath, Mile End, Siege of Sidney Street, Stepney, Stepney (parish), Whitechapel

Freehold Mixed Use Refurbishment / Development Opportunity for Sale in Whitechapel 01 INVESTMENT SUMMARY

- Freehold. - The opportunity exists to significantly - The property is located opposite Stepney enhance value through refurbishment, Green Underground Station and 300m from redevelopment, change of use and the new Whitechapel Elizabeth Line additional massing, subject to the necessary (Crossrail) station entrance. consents. - An attractive former Victorian gatehouse - Waugh Thistleton Architects have carried and a large rear warehouse providing out a block massing exercise which provides offices, 3 flats,a substantial gymnasium and a residential and commercial building a large covered car parking area. extending to 2,437.5 sq m (26,237 sq ft) NIA subject to obtaining the necessary - The total site area is 0.26 acres. consents. - The existing building provides 2,114.38 sq m - Low capital value of £296 psf on the (22,759 sq ft) GIA of accommodation existing GIA and £257 psf on the NIA of the arranged over ground and 3 upper floors indicative scheme. and a service yard. - Unconditional offers are sought in excess of - The property is currently let to £6,750,000 for the Freehold interest, Revisecatch Ltd (Owned by Royal Mail) subject to contract and exclusive of VAT. who occupy part of the ground floor and first floor as a courier service on a lease to expire 31st July 2017, outside the Act.

The Drill Hall, 174—178 Mile End Road 02

Royal London Whitechapel Cambridge Heath Road BMI London Stepney Green Anchor Retail Park Hospital Station Elizabeth Line/Crossrail Independent Hospital Station Entrance

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The Drill Hall is located in East London opposite Stepney Green Underground Station St t o h le g ft Road

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CGI OF DEPT W The Drill Hall, 174—178 Mile End Road 04 CONNECTIVITY & CROSSRAIL

Nearby Tube Stations

As the City moves east, Whitechapel is set to become one of the most connected places in the capital by public transport, with a Stepney Green Whitechapel Bethnal Green significant rail and tube interchange at Whitechapel station. 150 metres 900 metres 1,000 metres

The Elizabeth Line (Formerly known as Crossrail) The Elizabeth Line (Crossrail) will run 118 km from Maidenhead and Heathrow in the west, through new twin-bore 21km tunnels under central London to Shenfield and Abbey Wood in the east. It will bring an additional 1.5 million people within 45 minutes commuting distance of London’s key business districts. Around 200 million passengers will travel on the Elizabeth Line each year and the route will provide a 10% increase to rail capacity in the capital. The new Whitechapel Elizabeth Line station will use the existing Whitechapel Road entrance to the London Underground and London Overground station, with a new separate entrance onto Cambridge Heath Road providing access to all lines and within a 5 minutes walk (350 yards) of The Drill Hall. The Elizabeth Line platforms will be in deep tunnels to the north of the existing station but they will all share a concourse, ticket hall, gateline and station operations room, leading to a fully New over-station development from Durward Street New secondary Elizabeth Line entrance at Cambridge Heath Road integrated station that provides an easy step-free interchange between the Elizabeth Line, Hammersmith and City, District and Overground lines. The Elizabeth Line Map Stratford 5 mins Reading Heathrow Bond Street Farringdon 63 mins 38 mins 10 mins 5 mins Whitechapel

Slough Paddington Tottenham Liverpool 41 mins 13 mins Court Road Street 7 mins 2 mins Canary Wharf 3 mins

The Drill Hall, 174—178 Mile End Road 05 WHITECHAPEL DEVELOPMENT

Royal London Hospital Life Science Campus Culture Opposite Whitechapel station is the Grade II listed old Royal London Nearby is a proposed new life science campus to support health, bio Dept W is an iconic office and retail former department store currently Hospital site which was originally opened in 1757 and is now dwarfed by tech and life sciences research. The Whitechapel Vision aims to deliver undergoing refurbishment by Schroders Investment Management to the £1bn world class hospital facility that replaced it in 2012. The old over 3,500 new homes by 2025, generate 5,000 new jobs, create 7 new deliver a Buckley Grey Yeoman designed scheme. It sits adjacent to the building was recently purchased by Tower Hamlets Council to be the new public squares and a world class Life Science Campus at Queen Mary Genesis cinema complex which has been used for entertainment town hall. The site received planning in November 2015 for a £77M University London which operates 5 campuses centred around purposes since the mid 19th century. Charlie Chaplin and Laurel & Hardy makeover by AHMM architects and is due to be open in 2019. Whitechapel and has over 17,500 students. are both known to have performed here. The new Town Hall will be the central part of the Whitechapel The new Elizabeth Line entrance on Cambridge Heath Road will sit At 109 Mile End Road is one of Conde Nast’s boutique hotels of the year, Masterplan designed to manage the regeneration and redevelopment adjacent to the Sainsbury’s Superstore which within the Whitechapel 40 Winks (www.40winks.org). The hotel is a particular favourite for around Whitechapel Road and Cambridge Heath Road over the next 10 Vision will be re-developed to provide a larger store with new residential fashion folk and artists and hosts many fashion shoots. to 15 years. The Civic Hub regeneration of the old Royal London Hospital and community facilities. building which will house a new 21st Century town hall will be set around Notoriety a new high quality Civic Square to encourage complementary community and commercial uses including a media hub, retail and Whitechapel was at the centre of national attention during the tragic restaurants. murders committed by Jack the Ripper, the Siege of Sidney Street by Winston Churchill and the Second World War bombing of the East End. Within a short walk is the notorious The Blind Beggar pub where Reggie Kray stabbed to death Jack ‘The Hat’ McVitie.

The Drill Hall, 174—178 Mile End Road 06 THE PROPERTY

The former gatehouse is of timber / concrete frame construction and arranged over Ground and three upper floors. There are 3 flats on the second and third floors of the former gatehouse building with ancillary office accommodation at ground and first floor. The building is accessed from Mile End Road via a raised reception with a side vehicular access way. The warehouse building to the rear is of concrete / steel frame construction arranged over ground and first floor. The ground floor is currently arranged as car parking for c. 15 vehicles with an ancillary workshop. The building has the benefit of a 4.67m floor to ceiling height at ground floor and a gymnasium at first floor level which at its highest point achieves a floor to ceiling height of 6.69m. The property is currently let to Revisecatch Ltd (Owned by Royal Mail) who occupy part of the ground floor and first floor as a courier service on a lease to expire 31st July 2017, outside the Act.

The Drill Hall, 174—178 Mile End Road 07 EXISTING ACCOMMODATION

Internal Sq m Sq ft Ground First Floor 893.7 Sq m / 9,620 Sq ft 787.7 Sq m / 8,479 Sq ft Third Floor 120.4 1,296 Terrace Second Floor 178.2 1,918

First Floor 787.7 8,479

Ground Floor 893.7 9,620

Ground Level Service Entrance 100.5 1,082

Lower Ground Floor 33.8 364

Total GIA 2,114.38 22,759 Service Entrance

External Sq m Sq ft

First Level Terrace 56.4 607

Mile End Road Mile End Road The property has been measured in accordance with the Code of Measuring Practice 6th Edition by Sterling Temple and is assignable to the purchaser. Second Floor Third Floor 178.2 Sq m / 1,918 Sq ft 120.4 Sq m / 1,296 Sq ft

Roof

Plans are for indicative purposes only (not to scale). Mile End Road Mile End Road

The Drill Hall, 174—178 Mile End Road 08 ASSET MANAGEMENT & DEVELOPMENT POTENTIAL

The building offers numerous asset management opportunities to improve the net lettable area and significantly enhance value including:

–– Change of use to office, residential or alternative uses

–– Improving the arrival experience through creation of a new double height reception

–– Undertake internal refurbishment and upgrade specification to a ‘media style’

–– The creation of additional floors and infilling, subject to obtaining the necessary consents

The Drill Hall, 174—178 Mile End Road 09 PROPOSED SCHEME

A feasibility has been prepared by Waugh Thistleton Architects on the development potential of the site.

Their study suggests that there is potential to retain the four storey building fronting Mile End Road and create a new building at the rear replacing the existing warehouse.

Student accommodation or hotel type use has also been considered. Further information is available on request.

The design extends to 2,901.5 sq m (31,253 sq ft) GIA, 2,437.5 sq m (26,234 sq ft NIA) arranged over ground, first, second, third and part fourth floors to provide 5 x 1 bedroom flats, 3 x 2 bedroom flats and 1,912.0 sq m (20,578 sq ft) of commercial accommodation.

FLOOR SQ M SQ FT

Office GIA NIA GIA NIA Birds eye view Draft view from Mile End Road Fourth 82.0 54.5 882 586

Third 369.0 324.0 3,971 3,487

Second 369.0 324.0 3,971 3,487

First 482.5 437.0 5,220 4,703

Ground 898.5 772.5 9,671 8,315

Office Total 2,201.0 1,912.0 23,715 20,578

Residential GIA NIA GIA NIA

Fourth 130.5 113.0 1,404 1,216

Third 164.0 137.5 1,765 1,480

Second 164.0 137.5 1,765 1,480

First 164.0 137.5 1,765 1,480 Existing rear building massing Proposed rear building massing Overlaid massing Ground 78.0 0.0 839 0

Residential Total 700.5 525.0 7,538 5,656

TOTAL 2,901.5 2,437.5 31,253 26,234 The Drill Hall, 174—178 Mile End Road 10 PROPOSED PLANS

Ground Floor First Floor Second Floor

976.5 Sq m / 10,510.9 Sq ft 646.5 Sq m / 6,958.8 Sq ft 533 Sq m / 5,737 Sq ft

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Mile End Road Mile End Road Mile End Road

Third Floor Fourth Floor 533 Sq m / 5,737 Sq ft 212 Sq m / 2281.9 Sq ft

Office Residential

Plans are for indicative purposes only (not to scale). Mile End Road Mile End Road

The Drill Hall, 174—178 Mile End Road FURTHER INFORMATION

7 2 3 41 1 6 1

4 Method of Sale n

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h C The property is held in a single purpose vehicle that is available to Car Park The property is located in The London Borough of Tower Hamlets.

4 The building is not listed but is located in the Stepney Green purchasers. The owner will consider offers for both the company

2 or the property. 0 Mile End Road 8 Conservation Area.

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129 The property is not excluded for the purpose of Contact

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8 Permitted Development. 8

8 To arrange an inspection please contact:

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6 8 Held Freehold under Title Number AGL303491. rd

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5 1 VAT

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1 7 The property has not been elected for the purposes of VAT.

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Hayﬁeld Passage IS 4 U LO

1 Ricky Blair James Abrahams

2 15 e 2 Available upon request. to s

11 ou H 1 ld 020 7871 7420 020 7588 4433 5 fie

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7 6 [email protected] [email protected] Stepney Green Proposal W a r 2 d 1 B d y 4

2 2 1 3 3 5 Unconditional offers are sought in excess of £6,750,000 for the Richard Silver Jack Sawbridge

2 R Freehold interest, subject to contract and exclusive of VAT.

a 5 o 020 7871 7423 020 7588 4433 2 la 2 5 n a d 1 M 9 2 e 11 [email protected] [email protected] 7 w 2 s 1 7 0 Stepney Green Gardens a A purchase at this level reflects a low capital value of

7 3 £296 psf on the existing GIA and £257 psf on the NIA of the

b Hugh Ronan Marsha Rabinovich

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to indicative scheme. 3 020 7344 6887 020 7588 4433

8 [email protected] [email protected] 1

Colliers International & Allsop, give 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 & Allsop has any authority to make any representation or warranty whatsoever in relation to this property. May 2017.

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