A Prime Central London Residential Investment Located in the Epicentre of London Executive Summary
Total Page:16
File Type:pdf, Size:1020Kb
A PRIME CENTRAL LONDON RESIDENTIAL INVESTMENT LOCATED IN THE EPICENTRE OF LONDON EXECUTIVE SUMMARY A rare opportunity to purchase a prime central London residential investment opportunity on London’s Southbank. Located at the epicentre of London within the thriving Southbank. Unbroken block of 59 apartments producing c. £1.6 million per annum. A standalone freehold block with an aggregate saleable area equating to c. 45,637 sq ft. 19 secure underground car parking spaces. Unrivalled connectivity and excellent public transport infrastructure. A RARE OPPORTUNITY TO PURCHASE A PRIME RESIDENTIAL INVESTMENT OPPORTUNITY A DYNAMIC “24/7” DESTINATION THAT IS THE LOCATION UNLIKE ANY OTHER CENTRAL LONDON SUB-MARKET The Southbank Residence is excellently located within the Southbank, the epicentre of London, a stone’s throw from the river to the south of the OXO Tower. The Southbank has established itself as London’s most exciting prime market. It is a cultural hub which boasts some of London’s most impressive architecture, art galleries, markets, museums, bars and restaurants. Its reputation as one of London’s most popular destinations is now undisputed. The Southbank is a modern and dynamic area and the residential offering reflects this. There is enormous demand for residential property along the South Bank. As well as prospering at overseas exhibitions, many new schemes have been hugely popular with the domestic audience such as City workers, lawyers, media types and downsizers. Furthermore, there has been significant growth in the student population in the South Bank. Many of these are from overseas, with a significant number of parents buying or renting in new developments for their children who study here. The Southbank is a truly mixed use residential and commercial hub. Stretching from Westminster Bridge to Tower Bridge, this stunning riverside location is a first choice headquarters destination. The Southbank is attracting an increasingly diverse range of occupiers. Regarded as an archetypal West End law firm Boodle Hatfield has recently taken the decisions to move to the nearby 240 Blackfriars Road. ONE TOWER BRIDGE THE SHELL CENTRE THE SHARD NEO BANKSIDE SOUTHBANK TOWER ONE BLACKFRIARS SAMPSON & LUDGATE HOUSE ONE BLACKFRIARS 20 FENCHURCH LLOYD’S OF TOWER OF STREET LONDON LONDON 14 E 4 T A G N 17 HIGH HOLBOR OPS HO LBORN LONDON WA LL SH I CIRC U S B BANK OF BOROUGH TRAFALGAR COMMER ENGLAND MARKET SQUARE H O LO LBOR NDO C I N N W AL VI ALL AD U ST CT F R A E E R R T I N G D O N S T GH HOLBORN R H I E ET LONDON STOC CHARING CROSS RO EXCHANGE 30 TOWER SOMERSET T D BAILEY EE TR ST MARY AXE BRIDGE HOUSE OL S 10 IGH H E E U AT CH STREET EAPS E LDG FL EE T STREE T IDE EDL A AVEN NE D K EA I THR LE AD NG ENH A A LL ONE NEW STR EE T D S 8 13 ESBURY CHANGE WA CO R NHIL L FT A Y SH H CA T DWYC NN E AL ON E ST R T EET TR EE S R ST ND H ROYAL COURTS OXO SOUTH BANK RA HURCH 1 ST RC C N U FE H 18 OF JUSTICE TOWER TOWER QU E E N V I CTOR IA STREE T 11 EC C COVENT A GARDEN MARKET 9 GR UPPER THAME S S TR VICTORIA EM BANKME N T EE T 12 5 E 15 G D I E E R AS G B TC D H STRAND S I EA R R P ST PAUL’S GLOBE THE A B I E R LO M WER F DG TH U A I M CATHEDERAL THEATRE SHARD I E K S STRE ET C N BR A N L E B L L ARK I M HW T W U 9 E A G TE SO D I R R LOO B GABRIEL’ S N B O RIDG WHARF D N O E L ROYAL TATE LONDON 2 OPERA HOUSE MODERN EYE 3 NEO BANKSIDE ET FORD STRE STAM D DOON ST OA S O R TO UTHW AK OL R EY STR DGE EET ST TRANSPORT CONNECTIONS BDAOR SRAIRFKCAL R RI EE S T B T . T K HO R M E A A S G S D TR I T E HW E T BR T EE R R 1 E 7 13 T OU Covent Garden Southwark Bank S S H OW G T I HORSE H 2 Charing Cross 8 City Thameslink 14 Moorgate GUARD’S H 16 G PARADE 7 UN ION STREET U AD RO 3 9 15 O Embankment Blackfriars Monument 10 B DOWNING RK RO W STREET A UT YO TERLOO C 4 Chancery Lane 10 St Pauls 16 London Bridge THE R 5 Temple 11 Mansion House 17 Liverpool Street O LONDON 6 AD AQUARIUM 6 Waterloo 12 Cannon Street 18 Fenchurch Street BANKSIDEQUARTER.COM ZONE 1 TRANSPORT CONNECTIVITY This is one of London’s best connected areas, with the West End and City only a short Walk or Tube ride away. Waterloo (Jubilee, Northern & Bakerloo) and Southwark (Jubilee) stations are a short walk away, providing swift access to the West End, City and to Canary Wharf in under approximately 9 minutes. The Southbank is within a 30 minute tube ride of seven world renowned universities including the London School of Economics, University College of London, Central St Martin’s and Goldsmiths. Furthermore, Waterloo and London Bridge are the key gateway stations in and out of London. This has driven demand from wealthy UK residents living outside of London looking for a pied-a-terre, with easy access to the City, the West End and quick links out of London. AIRPORTS LONDON CITY Journey time from London Bridge is around 20 minutes with flights direct to over 30 European destinations and a recently introduced service to New York JFK. HEATHROW London Bridge also connects to the UK’s busiest air terminals at Approximate journey time from waterloo (mins) Source TFL Heathrow in around 40 minutes. THE INVESTMENT OPPORTUNITY The Southbank Residence comprises a standalone freehold block of 58 apartments arranged over the 1st to 7th floors. The entire property was purchased by The Crown Estate upon completion of the development by Crest Nicholson, one of the UK’s leading residential developers, in 2006. The building has an impressive entrance and atrium with concierge accessed directly of Stamford Street. There is a 24 hour concierge service at the apartments. KEY INVESTMENT CONSIDERATIONS: Gross rental income of c. £1.6 million per annum. 59 Apartments with a net saleable area of approximately 45,637 sq ft. Freehold. 19 secure car parking spaces. Close proximity to Waterloo and Southwark Stations. Vibrant and continually improving retail and restaurant offering in the area. Major commercial hub which continues to grow. Further information, including floor plans, management accounts and TUPE details can be found at www.thesouthbankresidence.com. RENT PER RENT PER APARTMENT FLOOR SIZE sq ft ACCOMMODATION ASPECT ACCOMMODATION SCHEDULE WEEK ANNUM 29 3 850 2 BED N £565 £29,380 30 3 779 2 BED N £495 £25,740 31 3 585 1 BED E £450 £23,400 RENT PER RENT PER APARTMENT FLOOR SIZE sq ft ACCOMMODATION ASPECT WEEK ANNUM 32 3 722 2 BED E £534 £27,768 A G 626 1 BED N £375 £19,500 33 3 711 2 BED S £550 £28,600 1 G 698 2 BED N £410 21,320 34 4 892 2 BED N £575 £29,900 2 G 606 1 BED N £390 £20,280 35 4 625 1 BED N £475 £24,700 3 G 648 1 BED N £380 £19,760 36 4 684 2 BED N £525 £27,300 4 G 966 2 BED N £545 £28,280 37 4 555 1 BED N £435 £22,620 5 G 793 2 BED E £465 £24,180 38 4 850 2 BED N £525 £27,300 6 G 549 1 BED E £425 £22,100 39 4 779 2 BED E £550 £28,600 7 1 892 2 BED E £560 £29,120 40 4 585 1 BED E £420 £21,840 8 1 625 1 BED N £395 £20,540 41 4 722 2 BED E £535 £27,820 9 1 684 2 BED N £470 £24,440 42 4 771 2 BED S £550 £28,600 10 1 555 1 BED N £402 £20,904 43 5 892 2 BED N £578 £30,030 11 1 850 2 BED E £530 £27,560 44 5 625 1 BED N £431 £22,430 12 1 779 2 BED E £490 £25,480 45 5 684 2 BED N £500 £26000 13 1 858 1 BED E £378 £19,656 46 5 555 1 BED N £435 £22,620 14 1 722 2 BED E £490 £25,480 47 5 850 2 BED N £560 £29,120 15 1 711 2 BED S £535 £27,820 48 5 779 2 BED N £520 £27,040 16 2 892 2 BED N £540 £28,080 49 5 585 1 BED E £463 £24,076 17 2 625 1 BED N £420 £21,840 50 5 722 2 BED E £525 £27,300 18 2 684 2 BED N £470 £24,440 51 5 711 2 BED S £526 £27,347 19 2 555 1 BED N £430 £22,359 52 6 + 7 1374 PENTHOUSE N £1,200 £62,400 20 2 850 2 BED N £500 £26,000 53 6 + 7 1443 PENTHOUSE N £839 $43,628 21 2 779 2 BED E £500 £26,000 54 6 + 7 1716 PENTHOUSE N £1,050 £54,600 22 2 585 1 BED E £420 £21,840 55 6 844 2 BED E £595 £30,940 23 2 722 2 BED E £480 £24,960 56 6 767 2 BED N £550 28,600 24 2 771 2 BED S £530 £27,560 57 7 844 2 BED E £575 £29,900 25 3 892 2 BED N £575 £29,900 58 7 770 2 BED E £615 £31,980 26 3 625 1 BED N £463 £24,076 TOTAL 59 FLATS 45052 £30,610 £1,591,705 27 3 684 2 BED N £500 £26,000 28 3 555 1 BED N £396 £20,592 Total 19 Car Parking Spaces CENTRAL LONDON MARKET The Central London residential market remains extremely strong as demand for housing consistently outweighs supply.