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Home , Royal Courts of Justice

02. THE OPPORTUNITY

— Central freehold property situated between and New Fetter Lane

— Existing B1a office building providing 4,838 sq ft (449.5 sq m) GIA over lower ground, ground and three upper floors

— Full planning consent for the provision of eight residential apartments (C3) comprising 8,533 sq ft (792.7 sq m) GIA and 6,696 sq ft (622.1 sq m) NSA over lower ground, ground and five upper floors

— Potential to revise the planning consent to provide nine private apartments, subject to obtaining the necessary consents

— Vacant possession

— Offers are sought in excess of £5,000,000 subject to contract and exclusive of VAT

BREAM’S C4

BUILDINGS E

Computer Generated Image for the 2016 consented scheme (REF:15/00971/FULL) London Temple Charing London Covent Leicester Soho Tottenham Holborn Chancery The British 04. Eye Cross School of Garden Square Court Road Lane Museum Economics

Hyde Park

Green Park

St James’s Park

Lincoln’s Inn Fields

BREAM’S C4

BUILDINGS E IN G EUSTON S ST PANCRAS C RO SS RO AD

LOCATION G 06. R A S IN N CLERENELL R EUSTON O A SUARE D

GREAT PORTLAND STREET T D S RUSSELL OL SUARE FITROVIA

S O U T A

M D OA P S R T LD O BA MARLEBONE N EO 22 R T O P FARRINGDON BARBICAN O TO

R T T T L E A N N A 9 D M

P BBC ET L E C TR O S U ER R IM T RT R The property is located within the City There are a number of well known O O M A D RN OLBO 19 of London on Bream’s Buildings, which restaurants in the area including REMO, CANCER LANE

C OLBORN A N C C AN CIT OF E NO runs to the east of Chancery Lane Clifford’s, STK and ROKA and Soho R N ST LONDON L A 1 N E ET D STRE through to New Fetter Lane. House are opening a new club at 180 OFOR 5 MINS 10 MINS 3 15 MINS S TOTTENAM T R COURT ROAD A N

D

U N The Strand. provides C D 18 E A OFORD R R P I A 6 Bream’s Buildings is situated on the CIRCUS N S G S ST PAULS

a wider array of retail, restaurant and C R E 2 T ST O V EE A FL S 7 S R south side of the street close to the R 21 16 23 BU O S E leisure uses and hosts A T 20 D F A S R E SOO GE 8 border of EC4 and WC2 benefitting from 15 A R N COVENT U TEMPLE T a regular programme of visiting artists N GARDEN S D T 27 R E E L E 17 S close proximity to both the City and T T R 24 E and festivals. A number of London’s E 5 T West End and is a short walk from Covent 13

TEMPLE B L

top universities are located close A

C

PICCADILL F

MAFAIR R

Garden. WC2 is the heart of London’s CIRCUS I D A 4 N R A S R

by including The London School of T S

E B S TAM 25 ER R IV

R I

A D

theatreland and is also home to the legal T G E R E L Economics, The University of the Arts 12 O O LL B DI R A I profession (the Royal Courts of Justice C D C PI G and King’s College. 14 E 10 CARING and the Temple are situated close by). CROSS EMBANMENT 11 SOUTAR G OL GREEN PAR 26 DE N UB ILE E B RI 6 DG ES

LL MA E ORSE GUARDS T PARADE GREEN PAR SOUTAR

LONDON 1. LINCOLN’S INN FIELDS 2. ROYAL COURTS OF JUSTICE 3. LONDON STOCK EXCHANGE 4. CULTURE 5 SOMERSET HOUSE 6 SOUTHBANK CENTRE 7 ST PAUL’S CATHEDRAL 8 9 THE 10 11 NATIONAL THEATRE 12 THE SHOPPING 13 COVENT GARDEN 14 FORTNUM & MASON 15 CARNABY ST 16 LIBERTY EDUCATION 17 KING’S COLLEGE LONDON 18 LONDON SCHOOL OF ECONOMICS 19 UNIVERSITY OF THE ARTS LONDON RESTAURANTS 20 BALTHAZAR 21 THE DELAUNAY 22 ST JOHN 23 HAWKSMOOR HOTELS 24 NO 1 BREAM’S 25 SAVOY

C4 26 THE RITZ

BUILDINGS E 27 CLARIDGE’S 08. 09. COMMUNICATIONS

Transport links to the property are There are numerous bus routes in the excellent with Chancery Lane (Central locality servicing both the immediate and Line), Holborn (Central & Piccadilly Lines) wider area. and Temple (Circle & District Lines) stations all within a short walk.

Thameslink services also run from both Blackfriars and Farringdon, the latter of which will benefit from Crossrail, with direct services to Paddington (8 mins) and Heathrow (31 mins).

Chancery Lane Holborn By Foot Via Via London Underground

05 mins 06mins 14 mins

Bank Blackfriars Liverpool Street Via London Underground Via London Underground Via London Underground

13 mins 11 mins 11 mins

Paddington Canary Wharf Heathrow Via Tottenham Court Road Via Tottenham Court Road Via Tottenham Court Road Crossrail Station Crossrail Station Crossrail Station

19mins 26mins 42mins

BREAM’S All travel times are from 6 Bream’s Buildings and are approximate. C4

BUILDINGS E Sources: Google maps and crossrail.co.uk. Elizabeth Line journey times valid from 2021. 10. EXISTING BUILDING 11. PLANNING PERMISSION

The property comprises an attractive 19th The existing building benefits from good The building is located in the The original permission has since The consent is not subject to century brick and limestone building on fenestration to the front in addition to , is not listed and been varied by way of a section a S106 agreement and Mayoral lower ground, ground and three upper generous floor to ceiling heights. There lies within the Chancery Lane 73 notice (18/01376/FULL) on and Borough CIL is estimated floors. The existing building is accessed via a are lightwells to the front and rear of the Conservation Area. The existing 14/03/2019 for: at £62,755 of which there is main entrance from Bream’s Buildings with building providing natural light to the use is as offices (B1a). Planning approximately £20,000 that Part demolition and extension of secondary access at the rear of the building. lower ground floor. The existing property consent was originally granted remains to be paid. Interested the existing building, associated with comprises 4,838 sq ft (449.5 sq m) GIA on 10/03/2016 (Ref: 15/00971/ parties should rely on their own change of use from Class B1 to Class (excl. vaults) of B1a office accommodation. FULL) for: enquires in this regard. C3, including; part demolition of Part demolition and extension of the ground floor and the rear closet Akin to the original permission, Existing Area Schedule the existing building, associated with wing, demolition of the rear facade, the S73 variation seeks to maintain change of use from Class B1 to Class excavation of existing lower ground the existing façade through to C3, including; demolition of the slab, extensions to ground, first, second 3rd floor level. The S73 variation FLOOR SQ FT GIA SQ M GIA ground, first, second and third floors, and third floors, new fourth and fifth further provides for the existing excavation of existing lower ground floors with a roof terrace above, for stairwell to be maintained (thereby 3 967 89.8 slab, extensions to ground, first, second the creation of 8 residential units mitigating build costs), the location 2 1,033 96.0 and third floors, new fourth and fifth alterations to the existing entrance, of the existing entranceway has floors with a roof terrace above, for the cycle parking, ground floor waste store, been maintained and floor levels 1 1,020 94.8 creation of 9 residential units with the plant areas, terraces/Juliet balconies have been rationalised (thereby G 1,070 99.4 creation of a new residential entrance, to the rear and other associated works. avoiding an internal step). LG 748 69.5 cycle parking, ground floor waste store, plant areas, terraces/Juliet balconies There is a further opportunity to revise the consent to provide TOTAL 4,838 449.5 to the rear and other associated works. nine private residential units (GIA’s excluding vaults) through subdividing one of the existing 2-bed units to provide two 1-bed units , subject to obtaining Proposed Area Schedule the necessary consents.

GIA NSA APARTMENT FLOOR PROVISION SQ M SQ FT SQ M SQ FT

Unit 1 LG Two bed 4-person 127.9 1,377 87.6 943

Unit 2 G Two bed 4-person 114.0 1,227 78.8 848

Unit 3 1 Two bed 4-person 113.7 1,224 96.4 1,038

Unit 4 2 Two bed 4-person 113.6 1,223 96.5 1,039

Unit 5 3 One bed 1-person 40.0 431 116.5 1,254 Unit 6 3 One bed 2-person 49.0 527

Unit 7 4 Two bed 4-person 109.5 1,179 91.8 988

Unit 8 5 Two bed 4-person 97.5 1,049 82.0 883

TOTAL 792.7 8,533 622.1 6,696

(GIA’s excluding vaults) 12. PROPOSED LOWER GROUND 13. PROPOSED GROUND FLOOR Unit 1: 943 sq ft / 87.6 sq m (NSA) Unit 2: 848 sq ft / 78.8 sq m (NSA)

TERRACE

BEDROOM

LIVING

DINING ENSUITE WC BEDROOM

WC LIFT LIFT ENSUITE

STAIR 1 STAIR 1 HALL ENSUITE

ENSUITE

HALL

BEDROOM

BEDROOM LIVING HALL DINING

VAULTS VAULTS

BREAM’S BUILDINGS

BREAM’S BUILDINGS

Plan not to scale, indicative only Plan not to scale, indicative only 14. PROPOSED 1ST FLOOR 15. PROPOSED 2ND FLOOR Unit 3: 1,038 sq ft / 96.4 sq m (NSA) Unit 4: 1,039 sq ft / 96.5 sq m (NSA)

BEDROOM

BEDROOM

ENSUITE ENSUITE WC WC BEDROOM BEDROOM

ENSUITE ENSUITE LIFT LIFT

HALL

STAIR 1 STAIR 1 HALL

LIVING DINING

LIVINGDINING

BREAM’S BUILDINGS BREAM’S BUILDINGS

Plan not to scale, indicative only Plan not to scale, indicative only 16. PROPOSED 3RD FLOOR 17. PROPOSED 4TH FLOOR Unit 5: 431 sq ft / 40.0 sq m (NSA) Unit 7: 988 sq ft / 91.8 sq m (NSA) Unit 6: 527 sq ft / 49.0 sq m (NSA)

BEDROOM

LIVING/DINING Unit 6 BEDROOM BEDROOM

ENSUITE WC

ENSUITE LIFT LIFT ENSUITE

WC

STAIR 1 HALL STAIR 1 HALL

ENSUITE

LIVING/DINING

DINING Unit 5 LIVING

BEDROOM

BREAM’S BUILDINGS BREAM’S BUILDINGS

Plan not to scale, indicative only Plan not to scale, indicative only 18. PROPOSED 5TH FLOOR 19. THE MARKET Unit 8: 883 sq ft / 82.0 sq m (NSA)

Residential Market Commentary There are a number of schemes on the market in the locality including Lincoln Square and Pinks Mews with BEDROOM headline pricing in the order of c. £2,500 per sq ft.

New homes sales have been stronger than anticipated in recent months. In part this is in response to government BEDROOM initiatives in respect of SDLT. It is also ENSUITE the case that London continues to WC be a mecca for overseas investment, as evidenced by overseas sales campaigns where take up from Hong Kong nationals in particular has

ENSUITE been strong. LIFT Above: Lincoln Square Westminster City Council’s wider tightening of planning policy in respect of change of use to residential STAIR 1 HALL means that there are now more limited Office unbuilt consents. Opportunities such as 6 Bream’s Buildings are therefore Repositioning likely to become increasingly finite. The office occupational dynamics in Midtown remain strong with one of the lowest vacancy rates of any LIVING submarket and a DINING highly constrained development pipeline. With headline rental values having achieved in excess of £70 per sq ft nearby, 6 Bream’s Buildings provides an opportunity to extend the existing building in line with that granted under the residential consent to create a newly refurbished, enlarged and enhanced office building. Small BREAM’S BUILDINGS office floorplates of c. 1,250 sq ft GIA, generous floor-to-ceiling heights and the inclusion of terraces and tenant amenities would be achievable and highly desirable. Plan not to scale, indicative only Above: Pinks Mews 20. FURTHER INFORMATION

Tenure Tenancy The property is held freehold under title The property is offered with the benefit of number LN187114. vacant possession.

to VAT

The property is elected for VAT and REAM’S UILDINGS the intent is that the transaction will be treated as a zero-rated supply. Data room Rolls Hose La orts Data room access will be provided upon request.

Proposal

Offers are sought in excess of £5,000,000 subject to contract and exclusive of VAT.

For further information or to inspect please contact:

MATT SHARMAN DAN DRURY 07974 364 043 07733 011 096 [email protected] [email protected]

KIT HAIG 07854 963 145 [email protected]

MISREPRESENTATION ACT 1967 - Levy Real Estate LLP and DJD Real Estate for themselves and for the Vendors or lessors of this property whose agents they are given notice that: All description, dimensions, reference to condition and necessary permissions for use and occupation and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness ofeach of them. Any services mentioned have not been tested and therefore prospective occupiers should satisfy themselves as to their operation. These particulars areproduced in good faith and set out a general guide only and do not constitute part of any offer or contract. No person in the employment of Levy Real Estate LLP or DJD Real Estate has any authority to make or give representation or warranty in relation to this property. All prices and rents are quoted exclusive of VAT unless otherwise stated. September 2020

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