REFINING LIVING ABOUT SAV GROUP SITE REQUIREMENTS
• Development and Investment opportunities
• Residential, Commercial, Mixed Use opportunities within Greater London
• Value-Add commercial investment opportunities with a mixed-use exit opportunity
• Warehouses or industrial buildings which can accommodate residential use / creative trades
• Difficult sites which may not have a clear end-use
• HMO / Co-Living / Shared Living / Hotel / Hostel / C3 development opportunities
• Options and STP deals
3 OUR TRACK RECORD
SAV Group is a specialist co-living/residential investor and developer
Kirkfield House Old Oak (3 phases) Blenheim Terrace Daken House Victoria
COMPLETED COMPLETED ON SITE COMPLETED PLANNING (SAV’s share is 20%) 103 studios/en-suits 4 town houses 92 HMO units 112 Student units 546 Co-living units Completion: Q4 ‘18 Completion: Q2 ‘19 Completion: Q4 ‘20 Completion: Q4 ‘20 Completion: Q2 ‘16
Small scale Northern & HMO projects Kenton Road Old Fire Station Chingford Primrose Hill Shell Tower
COMPLETED COMPLETED COMPLETED COMPLETED COMPLETED PLANNING 40 lettable units 33 HMO units 45 Studios 17 flats & 8 retail units 64 Studios Office / PD Before: Q1 ‘15 Completion: Q1 ‘16 Completion: Q3 ‘16 Completion: Q4 ‘18 Completion: Q3 ‘19 Completion: Q4 ‘21
4 SAV GROUP IN NUMBERS
Total projects since 2014 Numberof SAV Development was Year Project Location units Status March 2014 founded Soldwith 2014 Russel Road South Ken, Central London 11 Planning Willesden Junction, Zone2 Operational, Total GDV of all projects 2014 Old Oak London 546 Exit Please contact us managed since the start Soldwith for details 2015 Kenton Road Harrow, Zone 4 London 33 Planning Kirkfield House Phase Operational, 2015 I+II+III Harrow, Zone 4 London 103 Exit Total number of units 1,312 Operational, across all projects 2015 Old Fire Station Greenwich, Zone 2 London 45 Exit Blenheim Terrace (3 luxury St Jones Wood,Central Under 2016 houses) London 4 Construction
Areas of operations London Zones 1-6 2017 Daken House Newham, Zone 4 London 92 Sold with planning Sewardstone Road(17 Soldwith 2017 flats) Chingford, Zone 4 London 17 Planning Primrose Hill,Central Operational, 2018 Vernon House London 64 Exit
2018 Victoria Hostel Victoria, Central London 112 In Planning
2018 North Woolwich Old Newham, Zone 3 London n/a In Planning Station
2019 Spencer Road House Harrow, Zone 4 London 35 In Planning
2019 West DraytonHotel West Drayton, Zone5 50 In Planning
2019 Northern and Shell Tower Canary Wharf 200 In Planning
Total 1312
5 SELECTED CASE STUDIES CANARY WHARF – LONDON BOROUGH OF TOWER HAMLETS
Panoramic view NORTHERN AND SHELLTOWER CANARY WHARF
• Tenanted office building of 67,000sqft GIA
• Income producing while the planning strategy is being developed
PROJECT STATUS
• Site secured in Q4 2018 and the acquisition completed in April 2019
• Vacant possession and planning strategy is being pursued
View from the dock Location
7 CANARY WHARF – LONDON BOROUGH OF TOWER HAMLETS
DEVELOPMENT PLANS NORTHERN AND SHELLTOWER CANARY WHARF Panoramic view • Converting existing office space to 200 residential units
• Upward extension by 5-7 storeys is being investigated (use TBC)
• Total number of units to achieve is 277 plus communal areas of over 8,000 sqft
Bay study Schematic plans
8 KIRKFIELD HOUSE – LONDON BOROUGH OF HARROW
KIRKFIELD HOUSE BEFORE ACQUISITION & DEVELOPMENT BEFORE ACQUISITION
• Vacant office building
• Sold by owner-occupier as no longer considered viable as office use
• Potential for residential development due to setting and location
Building in clear need of redevelopment Clear opportunity to optimise existing floorplates
Opportunities to optimise the scheme further and deliver a dense development on underutilised land
9 KIRKFIELD HOUSE – LONDON BOROUGH OF HARROW
SAV Group delivered a micro-apartment rental development – 103 unit scheme in Harrow
KIRKFIELD HOUSE Value Creation Strategy HARROW
• Unique product for London housing market consisting of studios and en-suites only
• SAV Group acquired vacant office block with 23-flat planning, uplifted it to 45 studios, added 2 storey delivering 26 Acquisition of Enhancing Adding 26 units on Micro-flat scheme site with 23 flat planning to 45 top and 32 units built and fully lettable units and planning studios on the adjoining operational securing planning for car park additional 32 studios on the car park
Typical room layout Tenant Profile
Tenancy by occupation Tenancy by age group
Other 36+ 9% 18% Local Retail YP 12% 30% 18-25 38% Construction 14% 31-35 21%
Key Worker Student / 26-30 Postgrad 19% 23% 25sqm studio 16%
10 KIRKFIELD HOUSE – LONDON BOROUGH OF HARROW
AFTER ACQUISITION & DEVELOPMENT KIRKFIELD HOUSE POST-DEVELOPMENT
• Development comprising c.100 rooms
• Delivered across 3 phases
1. Strip-out and redevelopment to deliver 45 studio units
2. Roof extension for eight 1-4 bed ensuite rooms inclusters with shared facilities
3. New-build on car-park for32 studios
Redevelopment and roof extension
11 KIRKFIELD HOUSE: PHASE 3 – NEW BUILDCO-LIVING
COMPLETED PHASE 2 PHASE 3 – NEWBUILD COMPLETED
Phase 2 Co-living photos
Phase 2
Phase 3
12 THE COLLECTIVE OLD OAK – LONDON BOROUGH OF EALING
THE COLLECTIVE OLD Value creation strategy OAK WILLESDEN JUNCTION
• World’s largest co-living scheme in Old Oak Common at the time of involvement
• SAV Group’s managers had c.20% stake in the asset Acquisition of site with Change of use from Co-living scheme • SAV’s share was acquired via student consent student to co-living built and fully the management buy-out in operational October 2018
Typical room layout Tenant Profile
Tenancy by Tenancy by Salary Occupation
£41k+ Student 12% up to £25k 21% 19%
£35-40k 17%
£26-30k Young £31-35k 34% Prof 18% 79%
13 ST JOHN’S WOOD – LONDON BOROUGH OF WESTMINSTER
BEFORE ACQUISITION & DEVELOPMENT BLENHEIM TERRACE ST JOHNS WOOD • Former mental hospital was purchased in Q1 2016 from the National Health Service (NHS) • Planning granted for erection of three high end family homes • Site secured in Q1 2016 with planning for 3 townhouses of around 10,000 sqft NIA • SAV worked on the planning to extend the building in line with the terraceand additional 1,500 sqft of NIA • Enhanced planning was granted inMay 2017 • Construction started on 6th June 2017 Location and finished by Spring 2019
14 ST JOHN’S WOOD – LONDON BOROUGH OF WESTMINSTER
AFTER ACQUISITION & DEVELOPMENT BLENHEIM TERRACE ST JOHNS WOOD • Practical completion of three family homes in March 2019 • Additional planning for a mews house in the backyard granted in May 2018 • Practical completion of mews house expected in May 2020 • Whole terrace retained by investor for rental purposes
15 THE OLD FIRE STATION – ROYAL BOROUGH OF GREENWICH
THE OLD FIRE STATION BEFORE ACQUISITION & DEVELOPMENT BEFORE ACQUISITION
• Former Grade II Listed hotel • No longer considered viable as hotel use • Was then being occupied as low- quality bedsits • Building at risk of falling into further disrepair • Building works required to prevent further damage • Tenants lived in poor conditions before SAV Group acquired and redeveloped the building Exterior in need ofrefurbishment Low-quality bedsits
Internal and external works required to bring building back to a level reflecting it’s Grade II listing
16 THE OLD FIRE STATION – ROYAL BOROUGH OF GREENWICH
AFTER ACQUISITION & DEVELOPMENT OLD FIRE STATION POST-DEVELOPMENT
• Complete strip-out and refurbishment to deliver 45 units
• Essential external and structural works undertaken
• All windows replaced
• 24 Hour concierge on site
• Now complete, fullyoccupied and sold to a family office Renewed exterior and restored building features
Tenancy by Occupation
Student 25%
Key worker 8% Professional 67% Complete refurbishment and fit-out of interior
17 VICTORIA ACCOMMODATION – LONDON BOROUGH OF WESTMINSTER
BEFORE ACQUISITION & DEVELOPMENT
External View Internal View before Works
18 VICTORIA ACCOMMODATION – LONDON BOROUGH OF WESTMINSTER
AFTER PHASE 1 REFURBISHMENT VICTORIA Louise House Communal room Rooms interior • Strip-out and refurbishment to provide 112 rooms of accommodation
• New communal spaces added such as: communal room, laundry & games room, meeting rooms and a cinema room
• Project retained by SAV as an upmarket rental product
• SAV is exploring further extension potential
Cinema room
Laundry & games room
21 PRIMROSE HILL – LONDON BOROUGH OFCAMDEN
PRIMROSE HILL BEFORE ACQUISITION & DEVELOPMENT St Mark’s Square
• Vacant Grade II listed building overlooking Regents Park
• Currently configured as 64 self- contained units
Location Current Building Internal view
22 PRIMROSE HILL – LONDON BOROUGH OFCAMDEN
PRIMROSE HILL AFTER ACQUISITION & DEVELOPMENT St Mark’s Square
• Strip-out and refurbishment to provide 64 studios
• Garden Studio constructed atthe rear to provide additional communal space
Internal View Studio
External View Garden Studio
23 WEST DRAYTON - LONDON BOROUGH OF HILLINGDON
KENTON HOUSE WEST DRAYTON • Former operational hotel for circa 50 units • Benefiting from a block of residential units • Applied planning permission to alter and extend the current building to accommodate more units utilising the site area in a more efficient way
Location • Located in a walking distanceto West Drayton Station • Heathrow Airport and adjacent industrial and commercial hubis within 10 min drive
22 SPENCER ROAD - LONDON BOROUGH OF HARROW
Current Building SPENCER ROAD HOUSE HARROW & WEALDSTONE • Former B&B with undetermined use • Established use as Sui Generis – HMO • Received planning permission to alter and extend the current building to provide a 21-unit HMO scheme according to SAVVY Living concept • Applied for an additional 15 units atthe back of the car park • Total number of units is expected tobe over 35
Location • Located next to Harrow campus and Northwick Park hospital Current Interior Proposal for land at the back • Harrow and Wealdstone stations are located within walking distance • Located in a high Public Transport Accessibility Level area
23 NORTH WOOLWICH OLD STATION AND LAND AT THE REAR - LONDON BOROUGH OF NEWHAM
NORTH WOOLWICH OLD STATION AND LAND AT THE REAR NORTH WOOLWICH
• Former North Woolwich Old Station Museum • Prior to being a museum, the site was used as the Great Eastern terminal station for North Woolwich railway station • Land retained while planning strategy is being developed • Various planning opportunities are being explored
24 FOREST GATE – LONDON BOROUGH OF NEWHAM
Proposed scheme ROMFORD ROAD FOREST GATE
• Newham has an unprecedented issue with family homes being converted to large low-quality and poorly managed HMOs
• A regeneration-led development to provide for a 90+ unit purpose built HMO/Co-living scheme
• Currently a redundant 51 unit care home with a large plot area representing significant development potential
PROJECT STATUS
• Sold with planning
Existing site Co-living unit Location Visualization
25 CHINGFORD – LONDON BOROUGH OF WALTHAM FOREST
Consented scheme RETAIL AND RESIDENTIALPARADE CHINGFORD
• Former redundant retail parade with existing flats above • Proposed 17 flat residential scheme with retail parade on the ground floor anchored by national convenience store
PROJECT STATUS
• Site secured in Q1 2017 • Pre-Application discussions with a council held Q2 2017 • AfL and Lease with The Cooperative Food signed in Jul-17 • Costa Coffee AfL agreed in Feb-18 • Planning application granted in Jan-18 • Full vacant possession achieved in Sep-18 • Dec-18 sold with planning benefitting agreements for lease with Coop and Costa
Current status
26 KENTON HOUSE - LONDON BOROUGH OF HARROW
KENTON HOUSE Proposal HARROW • Former B&B with undetermined use • Established use as Sui Generis – HMO • Received planning permission to demolish the current building and erect a 33-unit HMO scheme according to SAVVY Living concept • Sold with a benefit of planning permission
Location • Located next to Harrow campus and Northwick Park hospital • Kenton Underground stations are located within walking distance. Current Building • Located in a high Public Transport Accessibility Level area
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