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Kensington Collection THE KENSINGTON COLLECTION KENSINGTON VILLAGE, LONDON, W14 THE BEAUMONT KENSINGTON HOUSE COLLECTION ABINGDON HOUSE SPUR LODGE THREE DISTINCTIVE BUILDINGS, OFFERING NUMEROUS ASSET MANAGEMENT OPPORTUNITIES WITHIN KENSINGTON VILLAGE 02 | 03 WEST LONDON’S PREMIER PRIVATE GATED OFFICE INVESTMENT CAMPUS SUMMARY Located in the heart of Kensington Village, West London’s premier private gated office campus Moments from West Kensington & Kensington Olympia Underground Stations Immediate surrounding area being spearheaded by the major redevelopment of Earl’s Court & Olympia London - the largest regeneration site in Central London Virtual Freehold 92,255 sq ft (8,570.8 sq m) The collection comprises a HQ warehouse style office building together with a mixed-use, stand-alone building and a smaller self-contained office situated around an attractive central courtyard Multi-let producing a total income of £3,548,682 per annum Ultra-low average passing rent (including rental guarantees) of only £38.47 per sq ft Kensington Village rents stand at £52.50 per sq ft – a significant discount to neighbouring Hammersmith & Kensington markets which are approximately £60.00 per sq ft Staggered lease expiries from late 2018 until 2022 Numerous asset management opportunities including either a phased refurbishment or a more comprehensive scheme with full vacant possession in 2022 Opportunity to add additional floor area, as evidenced at the Warwick Building, where planning was granted for two additional floors of residential use Offers are invited in excess of £65,000,000 Net initial yield: 5.11% (assuming purchasers’ costs of 6.8%) Net initial yield rising to 5.28% upon the documentation of the agreed rent reviews in Beaumont House Reversionary yield: 6.74% Very low capital value of only £705 per sq ft reflecting a 15% discount to the recently traded Gloucester Building 04 | 05 EARL’S COURT EARL’S COURT NATURAL HISTORY REGENERATION MUSEUM STATION BUCKINGHAM THE THE BATTERSEA CITY PALACE PARK HYDE KENSINGTON PARK COLLECTION CROMWELL ROAD KENSINGTON HIGH STREET WEST KENSINGTON STATION 06 | 07 THE LOCATION KENSINGTON VILLAGE IS LOCATED BETWEEN KENSINGTON VILLAGE OLYMPIA LONDON The distinctive campus is positioned directly to the north Olympia London is the largest exhibition centre in central KENSINGTON AND HAMMERSMITH, LESS of West Cromwell Road (A4), between North End Road London and the third largest in the UK. The iconic venue to the west and Warwick Road to the east. Pedestrian is home to a range of international trade and consumer THAN THREE MILES FROM KNIGHTSBRIDGE access to the village is provided via two entrances from the exhibitions, conferences and events. A4 and vehicular access is via Avonmore Road through AND MAYFAIR IN THE WEST END OF LONDON a 24/7 security gatehouse or separately from Stanwick In September 2017, it was announced that Heatherwick Road and Mornington Avenue. Studio, in collaboration with SPPARC Architects, will be leading the architectural enhancement of Olympia London. Kensington Village has always attracted a range of major corporate and media occupiers including RDF Media, The project will see the 130-year-old exhibition centre Universal Music and CACI. To the north of Kensington based on a 14-and-a-half-acre site, transformed into Village is the internationally renowned exhibition and a world-leading arts, entertainment, exhibition and leisure venue of Olympia London and directly to the south experiential district. Heatherwick Studio has been tasked is the Earl’s Court regeneration scheme. with improving the current customer offer with enhanced communal areas and retail units whilst retaining its iconic features. 08 | 09 Two crescents, garden squares and a new public space the size of Sloane EARL’S COURT DEVELOPMENT 77 Square ACRES REGENERATION SCHEME The 77-acre and £12 billion regeneration is the largest in central London and is owned by three partners involved in The Earl’s Court Project; EC Properties LP (a wholly owned subsidiary of Capco), the London Borough of Hammersmith & Fulham and Transport for London. 7. 5 K NEW HOMES The Masterplan has been devised by Sir Terry Farrell and revolves around four new urban villages and a high street. The villages will include around 7,500 new homes as well as the creation of approximately 10,000 jobs. In addition, 7.5 acres of green space will be created. Transport benefits include substantial improvements to Earl’s Court, West Brompton and West Kensington Underground stations, a new north south thoroughfare and additional bus routes. Construction works started on Phase One in January 2015. 10 K NEW JOBS Computer generated image MAP OF PROPOSED SCHEMEE A creative vision for a classical landscape of crescents, squares and parks Computer generated image Map shown for illustrative purposes only. Not to scale. 10 | 11 COMMUNICATIONS 8 28 19 MINS TO MINS TO MINS TO EXCELLENT TRANSPORT LINKS VIA PADDINGTON HEATHROW AIRPORT KING’S CROSS ST PANCRAS District line from Earl’s Court District line from Earl’s Court to Paddington Piccadilly line from Earl’s Court NUMEROUS UNDERGROUND STATIONS, then Heathrow Express BUS ROUTES AND THE ROAD NETWORK Kensington Village benefits from excellent transport links, with five underground stations all within walking distance, providing direct connectivity to the District and Piccadilly lines respectively and enabling quick access across central London. 7 12 10 In addition, Kensington Village also benefits from easy access to significant London mainline MINS TO MINS TO MINS TO railway stations including London Paddington, London Victoria and London Waterloo, providing links beyond the capital. CLAPHAM JUNCTION LEICESTER SQUARE VICTORIA Kensington Village can also be reached via car directly from the A4 thoroughfare, Southern Rail from West Brompton Piccadilly line from Earl’s Court District line from Earl’s Court which leads through London to the east and provides quick access to the M4 Motorway to the west. Source: TfL Map shown for illustrative purposes HYDE MAYFAIR only. Not to scale. SHEPHERD’S PARK Shepherd’s Bush Market BUSH KENSINGTON GARDENS Shepherd’s Kensington Bush Palace W12 HOLLAND KENSINGTON KENSINGTON Shopping Centre PARK VILLAGE ET RE A4 ST H Goldhawk IG Road H N TO G WEST CROMWELL ROAD SIN D EN Royal Albert WARWICK ROAD A KENSINGTON K EARL’S COURT O Hall R Design H KNIGHTSBRIDGE S Museum U WEST B S ’ Kensington KENSINGTON D R E Olympia H EARL’S COURT P Science Museum RAVENSCOURT E EARL’S COURT H V&A S VILLAGE PARK Olympia Museum Natural History London W Museum REGENERATION A R W NORTH END ROAD I Kings Mall C K A4 Shopping R ROAD AD O CROMWELL Ravenscourt Centre RO A H D Park IT ERSM Gloucester HAMM Neil’s Jazz Road South and Blues Kensington WEST TREET Hammersmith KING S D ROAD BROMPTON L R LILLIE HAMMERSMITH EL W NORTH END M Earl’s RO OAD A4 CRO D B MPTON R WEST BROMPTON Broadway EST Court OL VILLAGE TA W M4 Shopping Centre LGAR A4 TH ROAD VILLAGE Eventim E West LILLIE SQUARE G Apollo Barons Kensington ID R Court Earl’s Court B F N U O H L R Regeneration IT H T A H M M S E R E P N A FULHAM M L D A D M R A C The Queen’s O A O R E Club IE CHELSEA H A L R IL D L O West Brompton A D FULHAM BARNES 12 | 13 Stamford Bridge THE KENSINGTON COLLECTION The Kensington Collection comprises three self-contained buildings of high quality office, restaurant and leisure accommodation. Beaumont House has a rich history and was originally constructed in 1892 as part of the former Whiteley’s Furniture Depositary. It has more recently been converted into office accommodation and has benefitted from numerous rolling refurbishments that have maintained many original features and unique qualities that are highly sought after by modern occupiers. As a converted warehouse, the space is presented in a distinct and characterful style, benefitting from a Grade A specification, impressive floor to ceiling heights and excellent levels of natural light. The restaurant and gym amenities offered in Abingdon House along with the open green space and outdoor seating ensure that Kensington Village provides a high-quality working environment. Finally, Spur Lodge is a smaller self-contained office building on the western side of the village. The total area of Beaumont House, Abingdon House & Spur Lodge is 92,255 sq ft (8,570.8 sq m). BEAUMONT A HOUSE V O N M O CACI R E R HOUSE O A D AVON SPUR HOUSE LODGE ABINGDONABINGDON HOUSEHOUSE A KENSINGTON VO N GLOUCESTER M VILLAGE O WARWICK HOUSE R E R HOUSE O A D Plan shown for illustrative purposes only. Not to scale. PEMBROKE HOUSE 14 | 15 BEAUMONT HOUSE 16 | 17 DESCRIPTION BEAUMONT HOUSE Beaumont House provides 81,352 sq ft (7,557.9 sq m) of office accommodation arranged over ground and four upper floors. Access is afforded via a central core and lobby area, making the building highly flexible in its configuration and allowing for subdivision. The Property benefits from the use of 33 undercroft car parking spaces that are currently let to Universal Music Limited. KENSINGTON VILLAGE TENANCY Universal Music Limited occupies 59% of the space within Beaumont House. The vacant areas on part fourth and part third, formerly occupied by Universal Music, are offered with the benefit of a twelve month rental guarantee. Beaumont House generates an annual topped up rental income of £3,284,537, reflecting a low overall rent of £40.37 per sq ft. TYPICAL UPPER FLOOR PLAN FOURTH FLOOR LAYOUT GROUND FLOOR PLAN Plans shown for illustrative 18 | 19 purposes only. Not to scale. GROUND FLOOR 20 | 21 DESCRIPTION Abingdon House provides 9,562 sq ft (888.3 sq m) of office, restaurant and leisure accommodation arranged over ground ABINGDON and first floors.
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