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Home , Battersea Park, Burgess Park, Clapham Junction, Clapham Park, Lavender Hill, Nunhead railway station

SHAKESPEARE HOUSE 168 , SW11

PRIME LONDON MIXED USE BUILDING WITH DEVELOPMENT POTENTIAL NEAR JUNCTION SHAKESPEARE HOUSE 168 LAVENDER HILL, BATTERSEA LONDON SW11 5TG

INVESTMENT CONSIDERATIONS Attractive prime asset located on Lavender Hill in the very heart of the affluent London district of Battersea • Highly accessible with Overground Station less than 500m west of the property • Arranged over 5 storeys with retail on the ground floor and self-contained offices above • Existing building extends to approximately 12,631 sq ft (1,173.5 sq m) • Let in its entirety to Foxtons Ltd until September 2021, providing a clear opportunity for asset management and development in the short-term • Current rent passing £365,000 pa • Potential to convert and extend the existing building (Subject to Planning) • Freehold

PROPOSAL We are instructed to seek offers in excess of £8,000,000 (Eight Million Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a low capital of £633 psf and a Net Initial Yield of 4.28%, after allowing for purchaser’s costs of 6.67% SHAKESPEARE HOUSE SHAKESPEARE HOUSE 168 LAVENDER HILL, BATTERSEA 168 LAVENDER HILL, BATTERSEA LONDON SW11 5TG LONDON SW11 5TG

BATTERSEA PARK WESTMINSTER CITY OF LONDON BATTERSEA CANARY WHARF (0.8 miles) (1.7 miles) (3.6 miles) (5.1 miles) ARTS CENTRE (8 miles)

BRIXTON (0.4 miles)

CLAPHAM COMMON

LAVENDER HILL ROAD

CLAPHAM JUNCTION (0.3 miles)

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l r R d I A d n a d H o J R lf D R a ebb o r K R l o Clapham South a A o o R P G ve R A e L a k I e nue a R B a h ld r d Lavender Hill is located within the London suburb of Battersea, d The property isv veryE well served by public transport with Clapham Junction ig A c r A I O d e O N H s o F rl v a e t u z e T s h e e d S L T lb r T e n L I d G ou C N B a L W R H oa as rn R a k e e approximately four miles south-west of . Battersea is A Railway Station, theA busiest interchangee on the UK rail networkG located 0.4 miles e a e k d r Rd c L E a th N B o m n t ro A R o e T h R b a P r E d i C O u n l a d Y a S l U f O S d L t N E t i h D C A e t e le l L n o s E m L an affluent commuter district benefitting from excellent transport from then subject property. It providesld frequent services to and K from Waterloo, r I R R t ’ n oa S o S e s E b d rt n L P H R a R

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links from Clapham Junction making the area extremely popular with th l Victorian and , , Londone Overground, and a L

Bra s d r g R K N h r R L A oc H el a V o i Park i v m o n O ‘ L George’s i E a a a k R l g T l d d w l d A S e e s X n Rd I young professionals. proposedb underground link with 2. R R B uko w Y R e Park a o a o ov n D m B Gr a o k d A e M O E s d i ad R R d Rd Ro d n re R n e er E o d mb d e Dinsm o a r r i U n K l a o Lavender Hill is a predominantly retail and residential locatione with at Clapham Common Underground Station is 1.2 miles to the south east Vwhere the E e d R v o R l L s d k n L o a r a E h Ro a a e e B a g O R B d rid Atkin ad P m ld s Ro ATKINS R A c o O D D w a d large number of upmarket restaurants, trendy pubs and bars along a provides connections to Central London, including Bank, Oxford e l a d R A N Ro St d R P le d a o a el O d gfi ln ad B r i a w e on lh R v L a la W m e U R C B N i C d ew H D o v a the street. The roads to the north and south of Lavender Hill are ad Circus and Kings Cross. a Rd P o s R o l S r e R A O R M I i P n e en h o O n X d Lydden Rd a l T a S E h d a D t tan W F R S m e O A a T Wandsworth R y d R C N a U D l E i I f u e n N o O o T T predominately residential and house a young and affluent population, G E D h R n O R f r D ld H U o r e I e D i Claphamr Junction is strategically located in close proximity to the A3 and The r V T d A e e C a R i Cemetery s o vo v L O t Y n A W IR d O h R t v s A S D n O h C R o e ir C W A e s U E A t R u R R a R with one of the highest average earnings per capita in the country, O d g L h R O t D rig o R d H d A H rb ad d A oa n South Circular (A3205) roads with access onto London’s M25 and other national i O i G R P d R d E N a L IG O e I RIS a d o y D r r rp K A L Y R E R R o H m o IT N t d th o 2 L IN d il y a v e de 0 R oa b AL le f v le y R 5 T R ay r e M making the area one of London’s most vibrant hubs. am Wandle W e D x or e y H ngh nd motorway networks.G There are alsoLo a number of bus routes along the street.n A Ro d y i a epl Va A d s H ad oad T e R le L R o d y H n M a R a L ra R r

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Clapham Junction Waterloo Bank Oxford Circus Kings Cross SHAKESPEARE HOUSE SHAKESPEARE HOUSE 168 LAVENDER HILL, BATTERSEA 168 LAVENDER HILL, BATTERSEA LONDON SW11 5TG LONDON SW11 5TG

Clapham Junction Railway Station

SITUATION The property is located on the north side of Lavender Hill, in a prominent corner position at the junction with Theatre Street. The property is located 0.4 miles to the east of Clapham Junction Station and adjacent to the and the local Police Station. Nearby occupiers include Royal Mail, Marks & Spencer, Joe & the Juice,

and Co-op. LAVENDER HILL LAVENDER

Outline for indicative purposes only. © Crown Copyright, ES 100004106. For identification purposes only. SHAKESPEARE HOUSE SHAKESPEARE HOUSE 168 LAVENDER HILL, BATTERSEA 168 LAVENDER HILL, BATTERSEA LONDON SW11 5TG LONDON SW11 5TG

DESCRIPTION Shakespeare House is 5 storey framed construction building, constructed in the 1990s and is currently arranged as an estate agent on ground floor and self-contained offices at basement and upper floor levels. The property benefits from dual aspect floor space with two balconies on each floor level. The property fronts onto Lavender Hill with a return frontage to Theatre Street. The offices have the benefit of separate access from Theatre Street. There is a car park to the rear of the property with spaces for 6 cars, accessed via Theatre Street. There is a large private rooftop on the fourth floor overlooking south London’s skyline.

INTERNAL SPECIFICATION OFFICE RETAIL REFURBISHED IN 2018 TO PROVIDE:

CARPETED PERIMETER COMFORT WALL MOUNTED PLASTERED AND RECESS SPOT A MIX OF WOODEN & CARPETED PERIMETER FLUORESCENT COMFORT CENTRAL 8 PERSON LIFT, LARGE ROOF FLOORING TRUNKING COOLING CENTRAL HEATING PAINTED CEILING LIGHTING FLOORS THROUGHOUT TRUNKING STRIP LIGHTING COOLING HEATING SERVING GF-3F TERRACE ON THE 4F SHAKESPEARE HOUSE SHAKESPEARE HOUSE 168 LAVENDER HILL, BATTERSEA 168 LAVENDER HILL, BATTERSEA LONDON SW11 5TG LONDON SW11 5TG

FLOOR AREAS SITE AREA We have measured the net internal floor area of the premises in accordance with 0.133 acres (0.05 hectares). the RICS Code of Measuring Practise – 6th Edition:

Floor Use Size (sq ft) ITZA Fifth Floor Office 741 Fourth Floor Office 1,278 Third Floor Office 2,373 Second Floor Office 2,373 First Floor Office 2,373 Ground Floor Part Office/Part Retail 2,852 1,538 Basement Storage (for offices) 640 TOTAL 12,631

TENANCY UK ESTATE AGENCY MARKET The property is let in its entirety to Foxtons Limited on a Whilst much of the UK workforce has seen major lease expiring 28th September 2021. The property is held disruption during the Covid pandemic Estate agencies on a fully repairing and insuring lease, inside the security have remained resilient in a period that has seen the UK provisions of the Landlord and Tenant Act 1954. average house prices increased by 4.7% over the year to The office accommodation on the upper floors, September 2020, up from 3.0% in August 2020, to stand at including the basement storage, are sublet to a a record high of £245,000. serviced office provider. Estate Agencies have benefited from a pent-up demand Foxtons – Low Risk (88) that continues to work its way through the system. In fact, the number of viewings, new prospective buyers, offers, Founded in 1981 Foxtons is a leading British estate agency exchanges and instructions to sell were all above the five- company dealing with both lettings and sales across year average in the UK throughout December. London and the Home Counties. The company has 50 offices and their head office is located in Chiswick Park. The market has also been assisted by the £3.8bn stamp Foxtons Group Ltd was floated on the London Stock duty giveaway announced by the government in early July Exchange in 2013. and despite there being a lot of uncertainty for the year ahead, the UK property market is predicted to remain Foxtons Ltd reported the following results over the last 3 years: resilient throughout 2021. 31 Dec 2019 31 Dec 2018 31 Dec 2017 Turnover 98,362,000 103,236,000 108,897,000 Pre-Tax Profit -8,461,000 -7,556,000 5,843,000 Total Net Worth 5,733,000 13,026,000 19,727,00

Outline for indicative purposes only. SHAKESPEARE HOUSE SHAKESPEARE HOUSE 168 LAVENDER HILL, BATTERSEA 168 LAVENDER HILL, BATTERSEA LONDON SW11 5TG LONDON SW11 5TG

Shoreditch KINGS CROSS Park BOW Lord’s Cricket HOXTON BETHNAL Ground GREEN MAIDA VALE GLOBE East London Regent’s Park Millennium Crematorium TOWN Park MILE END BROMLEY BLOOMSBURY CLERKENWELL SHOREDITCH PLANNING SPITALFIELDS TOWER HAMLETS Mile End PADDINGTON MARYLEBONE Park HOLBORN CITY OF The property is situated within the London Borough of Wandsworth. STEPNEY CITY OF COVENT LONDON LONDON BAYSWATER GARDEN LIMEHOUSE Website: https://www.wandsworth.gov.uk/ Tel: 020 8871 6000 MAYFAIR SOHO £67.50 PSF £100.00 PSF King Edward VII POPLAR The existing property is not listed, nor does the site fall within a conservation area. It does, however, sit just outside the border Kensington MAYFAIR Park Gardens SHADWELL Hyde Park ST JAMES’S of the Town Hall Road Conservation Area. There have been no recent planning applications on the site. DOCKLANDS ST JAMES’S SOUTHWARKBOROUGH WAPPING Green£110.00 Park PSF CANARY Holland Park St James’s The site is subject to an Article 4 Direction. Park WHARF KNIGHTSBRIDGE Gardens £50.00 PSF GREENWICH WESTMINSTER KENSINGTON BELGRAVIA SOUTH BANK PENINSULA LambethArchbishop’s VICTORIA Palace Park MILLWALL £65.00Gardens PSF REDEVELOPMENT POTENTIAL LAMBETH ISLE OF DOGS £70.00 PSF Park QUAYS KENSINGTON EARL’S COURT The property is situated within a prestigious and popular storey, subject to gaining all necessary planning consents. & CHELSEA Millwall PIMLICO Park residential area of South London. Given its location, the property The property falls within Wandsworth’s Lavender Hill, Eland CHELSEA Brompton DEPTFORD lends itself to potential residential led development opportunities. Cemetery The Oval Kennington Road Article 4 Direction; thus permitted development rights Park KENNINGTON SOUTHWARK The site is of a significant scale with a prominent frontage on regarding the change of use from B1a use (offices) to C3 use Baersea Park HAMMERSMITH GREENWICH & FULHAM Greenwich Lavender Hill. This road and surroundings are characterised (dwellinghouses) have been removed. In order to change the CHELSEA Park HARBOUR by a variety of uses including retail, leisure and residential use of the building from offices to residential, a full planning BATTERSEA FULHAM £50.00BATTERSEA PSF NEW CROSS accommodation. This context provides the opportunity to permission will be required. STOCKWELL Blackheath deliver a mixed-use redevelopment of the building including The expiry of the lease in September 2021 presents a perfect Hurlingham Park CLAPHAM Ruskin commercial accommodation at basement and ground floor level BRIXTON Park opportunity to review the current building configuration in CLAPHAM

Wandsworth Nunhead and residential above. The residential accommodation could be Park £35.00 PSF Cemetery order to devise an asset management strategy to future-proof Hilly Fields WANDSWORTH TOWN EAST Park LEWISHAM Clapham Peckham delivered via conversion of the existing office accommodation Common the building. Greendale Rye Sunray Playing Fields HONOR OAK and extensions to the rear of the building and an additional WANDSWORTH Gardens CLAPHAM PARK BOROUGH OF Honor Oak Park LEWISHAM Wandsworth Common HERNE HILL One Tree King Brockwell Hill George’s Park DULWICH RESIDENTIALPark COMMENTARY Ladywell Fields

SOUTHFIELDS Dulwich Clapham has long been a residential suburb and in recent Apple’s consolidationPark of its London HQ to Battersea Power FOREST HILL Belair Park Horniman years it has become the centre of gentrification in south west Station is a record Gardens500,000 sq ft letting and reinforces the Northbrook HILL Park London EARLSFIELDwith Clapham Junction being one of the main target appeal of the Battersea and regeneration project.

Wimbledon Park areas for affluent young professionals and families. As well as Apple, other global brands are relocating to the area.

Tooting Bec Common Green space, good schools, local amenities and connectivity These significantSYDENHAM occupier influxes have brought wider benefits BELL GREEN are the main drivers for residential purchaserSTREATHAM and Clapham to the community, with new shops, restaurants and quality Junction offers thisTOOTING combination perfectly. housing emerging to support the commercial functions. CRYSTAL PALACE This is supported by an average sale value increaseStreatham in the The US Embassy’s move to Nine Elms has provided a further Common Crystal Palace boost to the commercialPark activity, which is strongly influencing Clapham/ SW4 market during the past 24 months (+1.57%), bucking the trend in comparable Outer Prime markets during the Clapham office market. The ripple effect from Battersea the same period, highlighting underlying stable demand in is being felt throughout the South West office market, and locations such as Clapham are poised to see rental growth the area. The same outperformanceEASTFIELDS was experienced in rental markets, where rents largely held firm during 2020 – as demand strengthens and quality stockBECKENHAM diminishes. The against a backdrop of average falls in other similar locations. attractiveness of Clapham is also underpinned by the rental Merton Park MITCHAM discount to the wider Central London office market and nearby Battersea whereSOUTH headline rents have now reached £55 per sq ft. NORWOOD South Norwood MordenCOMMERCIAL COMMENTARY Country Park Park THORNTON Experts predict that residential suburban areas such as Mitcham HEATH Shakespeare House provides a superb office product in a Clapham will benefit in a post-Covid world where we ought to stock starved and thriving market. Occupiers are increasingly see a transformation of office requirements in residential areas footloose and highly focussed on the quality and character of in a bid to reduce public transport. Clapham is ripe with young the buildings they occupy. This unique opportunity will appeal talent and will be an option for companies to consider the to investors and owner occupiers alike. location as a ADDISCOMBEviable option to the West End or City of London. CROYDON CROYDON £34.00 PSF Address Size Date of Letting Rent Comments WEST WICKHAM Maritime House, 10,900 sq ftBEDDINGTON Aug 2020 £47.50 per sq ft Comprehensively refurbished Grade A offices in

Old Town, SW4 0JW periodLloyd Park building with secluded garden 160 Falcon Road, SW11 2LS 3,517 sq ft Oct 2019 50.00 per sq ft Newly refurbished offices, air condition, car parking, suspended ceilings. Directly next door to Clapham Junction Station 140 Clapham Park Road, SW4 7DE 2,490 sq ft January 2020 £34.14 per sq ft Victorian factory conversion, creative space 66 Altenburg Gardens, SW11 1JL 2,704 sq ft Available £37.00 per sq ft Very close to subject property. Recently constructed building providing offices on Lower G, G & 1st Floors Clapham Place, SW4 6JP 17,403 sq ft Available £30.00 per sq ft Pre-let available from Autumn 2021. Grade A office space. EPC Available upon Request.

VAT The property has been elected for VAT and we would expect the transaction to be treated as a Transfer of a Going Concern (TOGC).

ANTI-MONEY-LAUNDERING A successful bidder will be required to provide information to satisfy the AML requirements when Head of Terms are agreed.

DATA ROOM For access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/LavenderHill

PROPOSAL We are instructed to seek offers in excess of £8,000,000 (Eight Million Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a low capital of £633 psf and a Net Initial Yield of 4.28%, after allowing for purchaser’s costs of 6.67%

For further information or to make arrangements for viewing please contact:

COMMERCIAL INVESTMENT RESIDENTIAL DEVELOPMENT Liam Stray Gergo Petrovics Richard How Victoria Barron 07956 981575 07961 234029 07917 891115 07391 407618 [email protected] [email protected] [email protected] [email protected]

allsop.co.uk

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertaking’s and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. The market statistics, rental and investments comparables have been supplied by third parties and their accuracy cannot be guaranteed. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 03.21