Shoreditch Stables

Home , Finsbury, Hoxton, Shoreditch, Shoreditch (parish), Tottenham

18 95 SHOREDITCH STABLES

66 BUTTESLAND STREET | LONDON N1

FREEHOLD FOR SALE WITH VACANT POSSESSION – SAME OWNERSHIP SINCE 1965 – 01 / EXECUTIVE SUMMARY SHOREDITCH STABLES

A UNIQUE OPPORTUNITY TO ACQUIRE A PIECE OF LONDON HISTORY

Self contained former stables in the heart of Hoxton

Freehold

Comprises 18,975 sq ft GIA over ground and first floors

Unique opportunity for owner occupiers, developers and investors

Planning permission has been obtained to undertake a compressive refurbishment and change the use to B1a office

Within close proximity to Old Street, Angel and Hoxton stations

The vendor is seeking offers in excess of £13,450,000.00 (Thirteen Million, Four Hundred and Fifty Thousand Pounds) equating to £708.00 /sq ft 02 / THE BUILDING SHOREDITCH STABLES

HISTORY

66 Buttesland Street was built in 1895 as a stable, and was described in the Shoreditch Observer as a ‘large fine depot, a substantial and serviceable building with healthy and comfortable accommodation for 180 horses’. It sits behind a row of houses on Buttesland Street, all constructed between 1810-35. The premises, known as the Pitfield Street Depot, was built by G Parker of Peckham, with steelwork by Newton Chambers Co, and opened in December 1895. In the early part of the 20th Century, motor power began to overtake horsepower, and the last LGOC horse-drawn omnibus ran on 18 October 1911.

The LGOC sold the leasehold of most of the site to the Eastern Motor Wagon Company, which made it its headquarters and whose fleet of 31 steam lorries undertook local haulage work. The premises was acquired in the early 1930s by Cromer Cars, who made further changes to the former covered yard, inserting the concrete mezzanine gallery which was originally fitted with a gantry and overhead travelling crane. Since 1965 the premises has been occupied by the current tenant, Wharfside furniture company. 03 / LOCATION SHOREDITCH STABLES

The area constantly evolves and breaks boundaries with new emerging food trends, a growing number of boutique retail brands, a cutting edge arts scene and an overwhelming choice of cocktail bars, cafes, pubs and pop up events spaces. It is easy to see why the area continues to attract forward-thinking businesses who are drawn to the amenity offering as well as the creative environment.

IN THE HEART OF TRENDY HOXTON

The area was historically known as the home of the fashionable arts and music scene. Characterised by its attractive warehouse style buildings and vibrant cultural atmosphere, Hoxton, has over recent years become increasingly fashionable to both occupiers and investors alike. The sub-market has become synonymous with the rapidly expanding Tech, Fin-Tech and Design industries. Brick Lane y ewer uman Old T Tr Br St

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UNRIVALLED Shoreditch Stables is conveniently located within a short walk of Old Street and other key stations, CONNECTIONS offering excellent transport links.

WALKING TIMES FROM THE Old St Shoreditch High St. Hoxton BUILDING 5 minutes 9 minutes 10 minutes

Moorgate Liverpool St. 15 minutes 15 minutes

JOURNEY REVITALISING TIMES VIA OLD ST OLD STREET Angel Bank Kings Cross St Pancras 12 minutes 14 minutes 15 minutes Old Street station is undergoing a £50m upgrade which will convert the existing 1970s roundabout into an attractive new pedestrianised public space, including seating and trees. It will see the north-western ‘arm’ of the

junction by City Road closed and two-way London Bridge Bond Street Tottenham Court Rd traffic reintroduced to the gateway to Tech 15 minutes 27 minutes 25 minutes City as it continues to be a hub for the thousands of people who live, work and socialise nearby. Source TfL 06 / LOCATION SHOREDITCH STABLES

LOCAL FREEHOLD & LEASING TRANSACTIONS

VESTRY STREET STUDIOS, 16 CHART STREET N1 34-38 PROVOST STREET EC1 CHAPTER HOUSE, 10-19 VESTRY STREET & 65-69 EAST ROAD N1 BRUNSWICK PLACE EC1

Tenure Tenure Tenure Tenure Freehold Freehold Freehold Freehold Size Size Size Size 22,562 sq ft 11,487 sq ft 11,223 sq ft 33,982 sq ft Completion Completion Completion Completion £19,250,000 £9,250,000 £13,500,000 £46,000,000 (£853 / sq ft) (£805 / sq ft) (£1,203 / sq ft) (£1,353 / sq ft)

LEASING TRANSACTIONS

160 OLD STREET EC1 THE BOWER, OLD STREET EC1 CHAPTER HOUSE, BRUNSWICK PLACE EC1 34-38 PROVOST STREET EC1

Developer Great Developer Helical Developer LBS Developer Private Portland Properties Estates Size 10,046 sq ft Size 6,930 sq ft Size 18,052 sq ft Size 11,306 sq ft Floors 13th Floor 7th Floors 2nd – 4th Floors LG – 5th Tenant OpenPayd Tenant Sensat Holdings Tenant Ebiquity PLC Tenant Meira GTx Lease 3 years Lease 5 years Lease 10 years Lease 10 years Term Term Term Term Rent £82.50 / sq ft Rent £87.50 /sq ft Rent £70.00 /sq ft Rent £60.50 /sq ft 07 / THE BUILDING SHOREDITCH STABLES

THE BUILDING

The London General Omnibus Company (LGOC) acquired the land between the rear of the terraces of houses on Buttesland Street and Haberdasher Street in 1893-1895, and plans were approved for a stable block in 1894. Much of the original features from this period are still prevalent. The site is split between the East and the West wing. Both wings consist of a ground and first floor. The West wing is currently used as back of house space, and the floor above is used for additional storage. Both floors of the East wing houses the showroom to Wharfside, a furniture company. 08 / THE BUILDING SHOREDITCH STABLES

EXISTING GROUND FLOOR 12,319 SQ FT / 1,144 SQ M ACCOMMODATION

WING FLOOR SQ FT (GIA) SQ M (GIA) East First 3,814 354 Ground 5,931 551 Total 9,745 905 West First 2,842 264 Ground 5,427 504 Total 8,269 768 Reception Internal 317 29 External 644 60 Total 961 89 Total 18,975 1,762 Buttesland Street

FIRST FLOOR 6,656 SQ FT / 618 SQ M

Buttesland Street

N Floor Reception Core Courtyard For indicative purposes only. Not to scale. 08 / THE BUILDING SHOREDITCH STABLES

The vendor has worked closely with ThirdWay Architecture Details of the planning permission can be found here: to secure planning to change the use to B1a Offices and http://hackney.hk/2017/3411/info PROPOSED undertake a comprehensive refurbishment of the building. DEVELOPMENT

Proposed refurbishment (CGI for indicative purposes only) 09 / THE BUILDING SHOREDITCH STABLES

DEVELOPMENT GROUND FLOOR 9,853 SQ FT / 916 SQ M POTENTIAL

Planning permission WING FLOOR SQ FT (NIA) SQ M (NIA) SQ FT (GIA) SQ M (GIA) granted to reposition East First 3,993 371 4,041 375 the building and Ground 4,864 452 5,931 551 undertake a full Total 8,857 823 9,972 926 refurbishment in place. West First 2,576 239 2,884 268 Ground 4,989 464 5,427 504 Total 7,565 703 8,311 772 Reception Internal 317 29 317 29 External 644 60 644 60 Total 961 89 961 89 Total 17,383 1,615 19,244 1,787 Buttesland Street

Proposed refurbishment (CGI for indicative purposes only) FIRST FLOOR 6,569 SQ FT / 610 SQ M

Buttesland Street

N Floor Reception Core Courtyard For indicative purposes only. Not to scale. 10 / FURTHER INFORMATION SHOREDITCH STABLES

FURTHER CONTACT INFORMATION

TENURE For further information or to arrange a viewing please contact the sole letting agents: The property is held Freehold.

LISTED STATUS Shaun Simons Part Grade II Listed. 020 7871 7422 [email protected] PLANNING PERMISSION Details held in the data room. Alexander Howarth 020 7871 7430 VAT [email protected] Applicable.

LOCAL AUTHORITY The London Borough of Hackney.

OIEO The Freeholder is seeking offers in excess of £13,450,000.00.

Colliers International 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 has any authority to make any representation or warranty whatsoever in relation to this property. March 2020.

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