FREEHOLD WITH VACANT POSSESSION CENTRAL DEVELOPMENT OPPORTUNITY FOR SALE 1 FLINT STREET, , LONDON SE17 1QU 1 FLINT STREET ELEPHANT AND CASTLE LONDON

Opportunity for owner occupiers, SUMMARY developers and investors Opportunity for owner occupiers, Freehold for sale with vacant possession developers and investors Located close to the within Freehold for sale with vacant possession an area undergoing substantial regeneration Located close to the City of London within Walking distance to Elephant and Castle an area undergoing substantial regeneration underground (Zone 1) and overground Walking distance to Elephant and Castle railway stations underground (Zone 1) and overground A 0.15 acre site situated in a predominantly railway stations residential area surrounded by a mixture of A 0.15 acre site situated in a predominantly housing and schools residential area surrounded by a mixture of The existing property provides a gross housing and schools internal floor area of approximately 673.55 The existing property provides a gross sq m (7,250 sq ft) internal floor area of approximately 673.55 Excellent potential to convert or redevelop sq m (7,250 sq ft) the existing property to alternative use for Excellent potential to convert or redevelop office, care or residential use, subject to the existing property to alternative use for planning office, care or residential use, subject to Potential for more massing on the site, planning subject to planning - not listed and not in a Potential for more massing on the site, conservation area subject to planning - not listed and not in a We are instructed to seek unconditional conservation area offers in excess of £1,800,000 for our Unconditional offers are invited for the client’s freehold interest, subject to freehold interest, subject to contract contract which reflects a low capital value rate of £248 per sq ft

2 1 FLINT STREET ELEPHANT AND CASTLE LONDON

Location Elephant and Castle lies in the TRANSPORT London Borough of Southwark Road in an area that is undergoing .. Elephant and Castle is very well substantial regeneration. Its connected. Traffic runs to and from the location refers to the areas of south-east of London along the A2 (New Walworth and Newington and Kent Road and ), the south surrounding areas. It is situated of England on the A3 which in turn leads around a busy junction that to the West End via St George’s Road. provides major arterial routes Access to the City of London can be to the south and south east A201 TOWER quickly achieved via London Road and of England, to the West End OF LONDON A301 A300 Newington Causeway to the north of the and to the City of London. A3 junction. and Walworth Its junction forms part of the River Thames A3200 Road adjoin the southern junction. London Inner and A3200 A100 i s t h e b o u n d a r y fo r t h e & Rail Southwark LONDON .... The area is served by both ...... congestion charge zone, being EYE A3 situated on the border of Waterloo .... London Underground and ...... Zones 1 and 2. A302 A201 Borough ...... Overground / National Rail services, which are 100m apart. The Elephant and Castle is a A301 A2198 Lambeth North Elephant and Castle Underground bustling, up and coming and A3200 A2 station (Zone 1) is situated on both the centrally located area. It has A201 A3 Northern and Bakerloo lines providing n o t a b l e b u i l d i n g s w h i c h A302 A100 A2206 quick access into both the West End and include a large part of London A3203 ELEPHANT & CASTLE A201 the City. The Overground rail station South Bank University campus, provides services to Sevenoaks and Kent T h e L o n d o n C o l l e g e o f RODNEY RD A3 A2 via Southeastern and Communication, The Cuming . A23 FLINT S OLD KENT R services. Museum, Perronet House (an A215 award winning residential TREET Buses O A3200 AD block) and the Strata SE1 - a ..... Numerous bus routes serve the A3 luxury, 43 storey residential B214 Elephant and Castle area in all directions. block nicknamed “The Razor”.

Not to scale. For indicative purposes only.

3 1 FLINT STREET ELEPHANT AND CASTLE LONDON

THE PROPERTY

ELEPHANT AND CASTLE BLACKFRIARS CITY THAMESLINK LONDON BRIDGE 10 MIN

NORTHERN LINE - 8 MINUTES TO BANK STATION BOROUGH THE SHARD THE CITY OF LONDON

TOWER BRIDGE ROAD

BAKERLOO LINE 12 MINUTES TO A2 OXFORD CIRCUS

A201

RODNEY ROAD

OLD KENT ROAD

FLINT STREET

Not to scale. For indicative purposes only. DELANCEY TOWN CENTRE ELEPHANT PARK REGENERATION SCHEME REGENERATION SCHEME PEABODY BOROUGH TRIANGLE SCHEME

4 1 FLINT STREET ELEPHANT AND CASTLE LONDON

Elephant and Castle Regeneration London is constantly growing and evolving, with current forecasts predicting approximately 10 million people will be living here by 2030. The Mayor of London’s London Plan recognises Elephant and Castle as an ‘Opportunity Area’ with a potential for growth that should be encouraged - over £4bn is being invested in its regeneration. It is one of three Opportunity Areas in Southwark, alongside Old Kent Road and Canada Water.

Delancey is developing a new £1bn town centre on a 2.5 acre site, which incorporates the Elephant and Castle Shopping Centre (currently being demolished), a new campus for London College of Communication and an adjacent site of 1.25 acres fronting Elephant Road. The scheme includes 979 new homes for rent, 35% of which will be affordable including 1216 social rented properties.

Elephant Park will be a new major mixed-use development including around 3,000 new homes, 50 new shops and restaurants and a brand new park and green space right in the heart of the scheme. Including Trafalgar Place, 1,633 of these homes are already complete, under construction or have planning consent.

Borough Triangle scheme, developed by Peabody, will see a 2.5 acre brownfield site being turned into new homes, commercial space and a new public square known as Arch Plaza. Currently this site is being temporarily utilised by Mercato Metropolitano food market.

London South Bank University St George’s Quarter development plans include new teaching space, a performing arts centre, exhibition space, a new library and learning and resource centres as well as public landscaped areas.

Source: https://www.elephantandcastle.org.uk/elephant-and- castle-regeneration-map/?location=92

The Bakerloo Line Extension is planned to complete in 2028/29; two new stations are being built for it along Old Kent Road

35 1 FLINT STREET ELEPHANT AND CASTLE LONDON

Situation The property is situated on the intersection between Flint Street, TREET Salisbury THAM S Park Row Catesby Street and Elsted Street. CHA To the north, south and east of the property is predominantly T. Sayer Street residential. To the west of the Y S RODNEY R TESB property, on the opposite side of CA O Flint Street, is the English Martyr’s ORB S AD

Primary School. FLINT S TREET English EL Local amenities include Salisbury Martyrs STED S Row Park, a two minute walk to the School TREET S TREET east, which provides a public Nursery Row Park swimming pool and multi-use DEAN’S BUILDING games court. The more Elephant Park substantial 56 hectare, , is ½ mile to the south and provides numerous facilities including café, WCs, play areas, a lake and sports facilities (sports centre, football pitch, tennis courts, fishing, running and BMX RODNEY R track). There are numerous shops, OAD bars, cafes and restaurants along EL STED S Old Kent Road together with a Lidl TREET Mercato Metropolitano Food Market FLINT S and Tesco supermarket, hotel and health club. TREET

Site The site is predominantly rectangular in shape and totals approximately 0.061 hectares (0.15 acres).

Not to scale. For indicative purposes only. Burgess Park

6 1 FLINT STREET ELEPHANT AND CASTLE LONDON

Description The main building provides Ground Floor accommodation on ground, lower ground and two upper floors. To the rear Second Floor is a single storey building that has been interconnected with former garages around a central courtyard area which is used for car parking.

Accommodation The property provides a total of Lower Ground Floor approximately 673.5 sq m (7,250 sq ft) GIA. Note there are areas in the lower ground floor that have not been FirstFloor inspected, for which the floor areas are estimated.

An approximate break down of gross internal floor areas are as follows:

Floor sq m sq ft Lower Ground 95.23 1,025 Ground 348.57 3,752 First 128.67 1,385 Second 101.08 1,088 Total 673.55 7,250

37 1 FLINT STREET ELEPHANT AND CASTLE LONDON

Tenure Residential Market The property is held freehold. Walworth and the surrounding area of Elephant and Castle are popular locations for residential due to the high levels of Planning amenities and fast transport links to both the West End and . The property sits within London Borough of Southwark’s local planning authority and falls within Old Kent Road Area Action Plan. It is not listed and not located in a conservation area. A large number of new schemes in the area have recently received planning permission or are under construction such The property has had various uses in the past but there is no planning history for the site. It was as the recently developed Highpoint building and the new formerly known as Rodney Road Police Station and then we believe let to Myrrh Education & Training, a apartment blocks surrounding Heygate Street and Rodney charity who aimed to meet the training needs of unemployed and economically disadvantaged people. Road as part of the new Elephant Park regeneration scheme. As such it is understood the property was used for both training and offices. It was subsequently let to The Manna Society from September 2015 where it was used for storage on part ground floor and a van Average property prices in Elephant and Castle are park in the yard area. approximately £625,000 which is 0.6% above the London average, whilst average rental values are £353 per week. Whilst the property has been vacant since 2016, it has been occupied and protected by live-in The average sold price for property in Elephant and Castle guardians on a temporary licence basis. Vacant possession can be achieved within 1 month’s notice. has increased by 5.16% over the last 5 years with properties There is potential for various uses for the site, subject to planning. Prospective parties are advised to recently consistently achieving figures in the region of £800 - make their own enquiries in this regard. £1,000 per sq ft.

8 Inspection Dates Arrangements will be made for open inspection days; dates to be confirmed

Method of Sale / Bid Details The freehold interest is offered for sale by way of informal tender.

The deadline for receipt of bids will be confirmed.

Offers should be submitted electronically to: Darryl Stevenson [email protected]

Richard Walden: [email protected]

Bids should be clearly marked: ‘Bid – 1 Flint Street SE17’.

Interested parties should note that the vendor reserves the right not to select the highest or any bidder. VAT F ur ther Inf ormation Bidders are asked to explicitly state the following in their offer:- The property is not elected for VAT. Should you have any queries or wish to 1. Purchaser: Clear identity and track record of the purchaser make a site inspection, please contact: 2. Purchase Price: Price to be provided in words and figures EPC The property has an EPC rating of Richard Walden 3. Due Diligence: Confirmation of what due diligence has been D 96. M: 07967 831 970 undertaken including inspections [email protected] 4. Approvals: Confirmation the offer has all necessary approvals or Proposal details of the timing and process to obtain these approvals (if Darryl Stevenson We are instructed to seek required) M: 07500 171 292 unconditional offers for our client’s [email protected] 5. Conditions: Any conditions attached to the offer to be clearly freehold interest, subject to contract. set out

6. Timescales: The purchaser's best timescales for exchange and Anti Money Laundering Bidwells completion (AML) 25 Old Burlington Street . 7. Proof of funds: Proof of funding for the purchase The successful bidder will be required London W1S 3AN to provide AML information in Tel: 020 7493 3043 8. Professional Team: Confirmation of the purchaser’s legal and accordance with HMRC regulations professional team when Heads of Terms are agreed. August 2021

9 Bidwells 25 Old Burlington Street London W1S 3AN Tel: 020 7493 3043 bidwells.co.uk

IMPORTANT NOTICE

Bidwells LLP act for themselves and for the vendors of this property, whose agents they are, give notice that:

Nothing contained in these particulars or their contents or actions, both verbally or in writing, by Bidwells LLP form any offer or contract, liability or implied obligation to any applicants, viewing parties or prospective purchasers of the property to the fullest extent permitted by law and should not be relied upon as statements or representative of fact. No person in the employment of Bidwells LLP or any joint agents has authority to make or give any representation or warranty whatever in relation to this property. Any areas of measurements or distances are approximate. The text, photographs and plans are for guidance only, may not be to scale and are not necessarily comprehensive. No assumptions should be made that the property has all necessary planning, building regulation or other consents. Bidwells LLP has not carried out a survey, nor tested the services, appliances or facilities. Purchasers must satisfy themselves by inspection or otherwise. All rentals and prices are quoted exclusive of VAT unless otherwise stated.

Prospective purchasers will be asked to produce identification of the intended Purchaser and other documentation in order to support any conditional offers submitted to the vendors. Bidwells LLP accepts no liability of any type arising from your delay or other lack of co-operation. We may hold your name on our database unless you instruct us otherwise.

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