EXCITING REPOSITIONING/REDEVELOPMENT/OWNER OCCUPIER OPPORTUNITY IN SOUTH WEST LONDON 2

THE OPPORTUNITY

- Located in the affluent South West London area of Putney.

- Strategically positioned on Putney Bridge Road within walking distance of Putney and East Putney stations as well as the wide array of amenities on Putney High Street.

- Prominent office building providing 45,613 sq ft (NIA), 67,143 sq ft (GIA) of office and ancillary accommodation, arranged over basement, ground and two upper floors.

- 50 secure car parking spaces at basement level, providing an excellent ratio of 1:912 sq ft.

- Total site area of approximately 0.621 acres (0.251 hectares).

- Freehold.

- The property is offered with vacant possession.

- The property benefits from a number ofhistoric planning consents (now lapsed) which help set a precedent for the future redevelopment/ repositioning potential of the site. These include:

• Residential led development comprising 53 apartments and 20,246 sq ft (NIA) of commercial space.

• Permitted development rights to create 49 residential apartments.

• Office redevelopment totalling 82,342 sq ft (NIA).

- In addition to this, consent has recently been granted for the reconfiguration and refurbishment of the existing building to create contemporary office accommodation totalling 45,819 sq ft (NIA).

- Seeking offers in excess of £21,000,000 (Twenty One Million Pounds), subject to contract and exclusive of VAT.

- A purchase at this level reflects alow capital value of £460 psf on the NIA and £313 psf on the GIA. THE CITY THE SHARD CANARY WHARF 4 THE WEST END HYDE PARK

WANDSWORTH BRIDGE PARSONS GREEN WANDSWORTH TOWN

HURLINGHAM PARK HURLINGHAM CLUB

PUTNEY BRIDGE WANDSWORTH PARK

FULHAM RAILWAY BRIDGE PUTNEY BRIDGE

PUTNEY BRIDGE ROAD

DISTRICT LINE

EAST PUTNEY PUTNEY HIGH STREET

UPPER RICHMOND ROAD

SOUTH WESTERN RAILWAY LINE

PUTNEY STATION 6

THE Primrose Hill

LOCATION IGS RSS ST PRS The ITRTIL T LRDS RIT Regent’s Park GRD

Putney is a popular residential and commercial S R D I T centre and an affluent London suburb situated approximately 4 miles south west of LIRPL Central London. STRT

PDDIGT TTTM MRL R The area benefits from excellent public transport links with 4 RT RD TIS T ST PLS Putney mainline railway station providing frequent services WST D TDRL TRW ITY F LD LD ITY to London Waterloo (15 minutes), and East Putney station I T Y IRPRT WIT ITY providing access to the London Underground network Hyde Park TWR F LD Kensington (District Line), with direct services to London Victoria Gardens GR PR (18 minutes) and Paddington (20 minutes). WIT Green LD Y WTRL Park ITY Holland St. James’s TWR RIDG Park Park IGTSRIDG S T In addition to this, Putney benefits from good road SPPIG TR T SRD SS F RYL LRT LL IGM communications with the A205 South Circular close LD PL PRLIMT TRW by and the A3 trunk road providing access to Central London SIGT D (LYMPI) WTR via Wandsworth. The M25 is situated some 15 miles to the ITRI Southwark ST Park south, and the M4 only 5 miles to the north west, both MMRSMIT SIGT 4 providing direct access to the national motorway network. RLS RT W S T M I S T R S T W R LL Putney also boasts a huge array of retail and leisure amenities S L M T as well as being in close proximity to the green spaces of Chiswick House TIS L L S and Gardens T L Burgess Park Wandsworth Park, Putney Heath and Barnes Common. STMFRD RIDG EAST PUTNEY UNDERGROUND TTRS FLM Battersea PWR STTI Putney’s combination of accessibility and amenities makes RDWY Park Earl's Court 10 mins it a highly desirable location for both residential and office WWT London LS RR Hammersmith 18 mins occupiers alike. Wetland Centre I L M S London Victoria 18 mins

Paddington 20 mins PTY Green Park 23 mins RS RIDG Liverpool Street 40 mins 25 LPM RIMD Wandsworth Park TI Heathrow 51 mins PTY WDSWRT TW Clapham Peckham Rye ST Common PUTNEY TRAIN STATION Park & Common PTY Clapham Junction 4 mins

Wandsworth Richmond 5 mins Common Brockwell Putney Park London Waterloo 15 mins Heath London Victoria 24 mins Richmond Dulwich Park Park Gatwick Airport 41 mins Wimbledon and GTWI Putney Common 8

PUTNEY’S COMBINATION OF ACCESSIBILITY AND AMENITIES MAKES IT A HIGHLY DESIRABLE LOCATION 10

THE M el rook WWT London n P F s d a t a r ommon Wetland entre e o l h R s r o a R n m m

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a lh SITUATION G P d a F r la e c e

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R L d o a a a n o d R R e rch h o The property occupies a prominent position Immediately to the east ofPRSS the property is Wandsworth c k M Park, and the River Thames is situated just to the north, s fronting Putney Bridge Road at its junction n s GR L te a r providing an attractive Renvironment for both commercial n with Deodar Road and only 500m to the east o W e d a occupiersa and residents alike.d a of Putney High Street, and its array of retail o n R a m d and leisure amenities. a s lh oad w s R F ing o w r e t h

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01 02 04 11 Mins 01 02 03

t LOCAL OCCUPIERS e p e pe r r R t ich S mon d Ro h ad g 04 i

y 02 e P 05 n Wandsworth t tn 03 ey r Park P id ge 12 Mins Ro ad 04 02 ay W 05 BARS &n PUBS RESTAURANTS LEISURE AMENITIES OFFICE OCCUPIERS o d PTY 01 Eastn Putney Tavern 01 Franco Manca 01 Odeon Cinema 01 Nando’s 03 a 03 8 Mins w 04 02 TheS Boathouse 02 Five Guys 02 Crossfit Putney 02 Young & Co’s Brewery pp 01 WDSWRT 05 er R ich 03 Coat & BadgeTW 03 Bill’s 03 Puregym 03 Russell-Cooke Solicitors mo nd F 01 Ro a a 04 Thei Toy Shop 04 Roxie Steakhouse 04 Putt in the Park 04 Populous d r fi

e l Way 05 Tequilad Mockingbird 05 Marco Polo Restaurant 05 Putney Arts Theatre 05 Be at One Cocktail Bars ry S ST mo t r PTY e e

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RECENT DEVELOPMENTS

The area has benefitted from a number of high profile developments in recent years which have further enhanced the location as a place to both live and work.

WWT London M el rook d P Recently completed and proposed developments include: F n a o a Wetland entre s R ommon r l t h e s m o a r a n m R lh o s

P a F G a d r la e c e 1 5 ad e n o R R R ch L r o o a h a PRSS c n k d CARLTON HOUSE TILEMAN HOUSE M e s n GR L s a d te n a r W UPPER RICHMOND ROAD UPPER RICHMOND ROAD e o R R o a a n d m a a d d lh Roa Developer: A2 Dominion / Fabrica Developer: Crest Nicholson ngs s i w F ew o

r Description: 73 residential units with Description: 56 residential units with ishops t h

Park Imperial retail and office accommodation retail and office accommodation r i d Park

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Completed: 2019 Completed: 2016 Mill ill Road R

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d M ill rlingham Soth Park ill R oad Park Flham 2 6 e n L a ow L e s r R ONE PUTNEY LONDON SQUARE PUTNEY k ich PTY c m e o on g d d RIDG R Roa i PUTNEY HIGH STREET UPPER RICHMOND ROAD e d r id RS R y ns e e n e t Developer: Thackeray Estates Developer: London Square P Description: 15 residential units Description: 113 residential units

t and retail accommodation Completed: 2015 e e r t 7 S

Completed: 2018 d

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R pp 3 8 rk er R h o ich g Y mon i d R oa d

3 7 P Wandsworth 2 t y ne e y Park n r LEVELLERS COURT 56-70 PUTNEY HIGH STREET t idg e R ay P o W ad T n r o i d n PUTNEY HIGH STREET n i Developer: M&G PTY a t y w R S o

Description: 97 residential apartments R a Developer: Savills IM 5 WDSWRT d o e p pe with commercial accommodation h 6 r R 4 TW F Description: 123 residential units a ic h a m m o i 1 n r fi Completion: Yet to commence p d l R e il Completion: Yet to commence t o Way o a ry l t d s n d mo a S development L development ST t a r

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e PTY e l t l i and ll W sw i o ast y rth e West ill ig n h Str t 8 t ee 4 P d PUTNEY PLAZA BLADES COURT oa G R a ll ld r i r o a DEODAR ROAD st h UPPER RICHMOND ROAD t e k W t c L a

Roehampton n Developer: Art Estates Developer: Nuveen/Berwick Hill Playing e Description: 143 residential units Description: 11 residential apartments Field y eath tne Completed: 2016 Completed: 2019 P 14

THE PROPERTY

Carlson Court was constructed in c. 1990 and comprises a number of interconnecting blocks arranged around an attractive courtyard. The property was built of a combination of loadbearing masonry walls, and steel frame construction, and totals 45,613 sq ft (NIA), 67,143 sq ft (GIA) arranged over basement, ground and two upper floors.

The property is currently vacant, but was designed to provide highly flexible/divisible office accommodation with excellent natural light. The original specification included:

- Painted plastered walls and ceilings

- Carpeted and laminate wood flooring

- Air conditioning

- A mixture of underfloor and perimeter trunking

- 1 x passenger lift (located in the courtyard)

The property benefits from 50 secure car parking spaces situated across a split-level basement, and accessed via the internal courtyard, providing an excellent ratio of 1:912 sq ft.

ACCOMMODATION

The property provides the following floor areas:

Floor Use NIA GIA

Area (sq m) Area (sq ft) Area (sq m) Area (sq ft) 2nd Offices 1,452 15,633 1,593 17,152

1st Offices 1,417 15,253 1,603 17,258

Ground Offices 1,368 14,726 1,569 16,889

Basement Ancillary/Parking - - 1,472 15,844

Totals 4,238 45,613 6,238 67,143

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SITE

The site area totals approximately 0.621 acres (0.251 hectares).

TENURE WANDSWORTH PARK

Freehold. The approximate extent of the freehold title is shown outlined red on the site plan.

Part of the property (outlined blue on the site plan) is subject to a substation lease in favour of London Power Networks plc at a nominal rent expiring 2051.

TENANCY

The property will be offered with vacant possession. 20

FUTURE REDEVELOPMENT/ REPOSITIONING OPPORTUNITIES

The property benefits from a number of historic planning consents, which we understand have now lapsed, but help show the wide array of future redevelopment/repositioning opportunities on the site.

These include:

- Planning permission for a residential led development comprising 53 apartments and 20,246 sq ft (NIA) of commercial space, arranged over lower ground, ground and four upper floors.

- Permitted Development Rights to convert the existing office accommodation into 49 residential apartments.

- Planning permission to develop a new office building totalling 82,342 sq ft (NIA), arranged over basement, ground and four upper floors.

In addition to this planning consent has recently been granted for the reconfiguration and refurbishment of the existing building to create contemporary office accommodation totalling 45,819 sq ft (NIA).

The property’s extensive planning history, as well as further relaxation to Permitted Development Rights, set a favourable precedent for the future redevelopment/repositioning of the site in terms of massing and end use.

Further information regarding the property’s planning history is available in the data room. 22

HISTORIC RESIDENTIAL DEVELOPMENT CONSENT

In October 2015 Wandsworth Borough Council granted planning permission (Ref 2015/0039) for the reconfiguration and extension of the existing building to provide 20,246 sq ft (NIA) of commercial floor space at ground and basement levels and 53 residential units on first to fourth floors, as well as 10 basement car parking spaces. It is our understanding that this consent has now lapsed.

Floor Apartment Type No. of Apartments NIA GIA

Area (sq m) Area (sq ft) Area (sq m) Area (sq ft) 2 Bed 3 4th 338.9 3,648 669.3 7,204 3 Bed 1

1 Bed 3

3rd 2 Bed 11 1,115.9 12,012 1,322.6 14,236

3 Bed 2

1 Bed 4 2nd 1,166.4 12,555 1,618.3 17,419 2 Bed 11

1 Bed 3 1st 1,540.9 16,586 1,557.4 16,764 2 Bed 15

Sub-Total 10 x 1 beds, 40 x 2 beds, 53 4,162.1 44,801 5,167.6 55,624 3 x 3 beds Residential Core/Ancillary - - 214.6 2,310 Ground Commercial 1,261.9 13,583 1,418.3 15,267

Residential Core/Ancillary - - 618.5 6,658 Lower Ground Commercial 619.0 6,663 806.7 8,683

Totals 53 6,043.0 65,047 8,225.7 88,541

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HISTORIC PERMITTED DEVELOPMENT SCHEME

In December 2013 Wandsworth Borough Council granted prior approval (Ref 2013/5788) for the change of use from offices (Class B1a) to residential (Class C3), to provide 49 flats and 47 basement car parking spaces. It is our understanding that this consent has now lapsed.

Floor Apartment Type No. of Apartments NIA GIA

Area (sq m) Area (sq ft) Area (sq m) Area (sq ft) 1 Bed 9

2nd 2 Bed 5 1,086.0 11,685 1,645.1 17,701

3 Bed 1

1 Bed 10

1st 2 Bed 1 775.0 8,339 1,656.4 17,823

3 Bed 1

1 Bed 10

2 Bed 2 Ground/1st 2,297.0 24,716 1,636.4 17,607.7 2 Bed Duplex 6

3 Bed Duplex 4

Sub-Total 29 x 1 Beds, 8 x 2 Beds, 2 x 3 Beds, 49 4,158.0 44,740 4,937.9 53,132 6 x 2 Bed Duplex, 4 x 3 Bed Duplex Basement Ancillary/Parking - - 1,501.7 16,158

Totals 49 4,158.0 44,740 6,439.6 69,290 28

HISTORIC OFFICE REDEVELOPMENT CONSENT

In September 2016 Wandsworth Borough Council granted planning permission (Ref 2016/4016) for the redevelopment of a new building arranged over basement, ground and four upper floors to provide 74,536 sq ft (NIA) of Class B1(a) office accommodation and 7,806 sq ft (NIA) of commercial floorspace, for either A1/A3/B1 or D1 use, as well as 22 basement car parking spaces. It is our understanding that this consent has now lapsed.

Floor Use NIA

Area (sq m) Area (sq ft) 4th Offices 912 9,821

3rd Offices 1,597 17,194

2nd Offices 1,806 19,441

1st Offices 1,806 19,441

Ground Offices 713 7,679

Ground Reception 89 960

Ground A1/A3/B1/D1 725 7,806

Totals 7,648 82,342

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OFFICE REFURBISHMENT SCHEME

Planning consent has recently been granted (Ref 2020/2511) for the refurbishment and reconfiguration of the existing office accommodation to include:

- Replacement of windows and doors.

- Enhancements to the internal courtyard, entrance lobby/ reception area to include A1 and/or A3 use, and external lift and stair core.

- Provision of external signage zones.

- Reconfiguration of the basement level to provide additional cycle spaces, associated shower facilities and electric vehicle charging points.

Floor Use NIA

Area (sq m) Area (sq ft) 2nd Offices 1,437 15,464

1st Offices 1,448 15,591

Offices 1,248 13,429 Ground Reception 122 1,335

Basement Ancillary - -

Totals 4,255 45,819

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FURTHER INFORMATION

PLANNING The property is situated within the London Borough of Wandsworth. The property is not listed and does not lie within a conservation area, nor does it lie in an area covered by an Article 4 Direction.

VAT The property is elected for VAT.

EPC Copies of the EPC and recommendation report are available in the data room.

ANTI-MONEY LAUNDERING REGULATIONS In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

DATA ROOM A data room has been set up to provide details of all the property and legal information which is deemed relevant to the sale. This includes the following:

• Title Information • Planning Documentation • Existing and Proposed Floor Plans • Management Information • EPC • Marketing Details

PROPOSAL We are instructed to seek offers in excess of £21,000,000 (Twenty One Million Pounds), subject to contract and exclusive of VAT.

A purchase at this level reflects a low capital value of £460 psf on the NIA and £313 psf on the GIA. CONTACTS For further information, access to the data room, or to arrange an inspection, please contact:

ALASTAIR TYRRELL HUGH FAITH LEE EVANS Tel: 020 7495 5550 Tel: 020 7495 5550 Tel: 020 7495 5550 Mob: 07841 783 543 Mob: 07824 810 910 Mob: 07900 581 920 Email: [email protected] Email: [email protected] Email: [email protected]

MISREPRESENTATION ACT 1967 TT&G Partners LLP, for itself and for the vendors of this property, hereby give notice that: These particulars do not constitute, nor constitute any part of, an offer or contract. TT&G Partners LLP and its members accept no legal responsibility for any statement or representation whether written, oral or implied or whether contained in any advertisement particulars or other matters issued or any correspondence entered into by them and whether made in any antecedent present or subsequent enquiries or negotiations. Neither TT&G Partners LLP nor their principals, members, agents, servants or representatives have any authority whatsoever to make or give any representation or warranty whatsoever whether written or implied in relation to this property. Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of any antecedent present or subsequent statements or representations, and should not rely upon the same unless he has satisfied himself accordingly. Unless otherwise stated all prices and rents are quoted exclusive of value added tax (VAT). Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction. Subject to contract & exclusive of VAT. TT&G Partners LLP is a limited company registered in England and Wales (registered number OC427197). Registered office: 41/43 Maddox Street London W1S 2PD. September 2020

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