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35A COMMERCIAL ROAD LONDON E1

PRIME LONDON DEVELOPMENT OPPORTUNITY … …

ALDGATE PLACE (BARRATT)

GOODMAN’S ALDGATE ALDGATE FIELDS TOWER EAST WHITECHAPEL STATION 35A (BERKLEY HOMES) (BARRATT) STATION (CROSSRAIL) 500M ALTITUDE ALDGATE THE HERON LIVERPOOL STREET THE SHARD (BARRATT) STATION GHERKIN TOWER STATION

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EXECUTIVE SUMMARY

• Prime city fringe location widely considered one of London’s growth ‘Hotspots’

• Existing building comprises 36 flats (5 x studios & 31 x one beds) totalling approximately 1,236.78 sq m (13,313 sq ft) GIA

• Planning consent for change of use of part ground floor to retail (A1); alterations to existing 36 flats and creation of an additional 8 self-contained flats by 4 additional floors comprising a GIA of 4,443.5 sq m (47,830 sq ft).

• Pre-application for a full re-development to provide 74 residential units and 250 sq m (2,691 sq ft) of commercial space

• Alternative redevelopment potential for a number of uses to include residential, commercial or a mixed-use development subject to the necessary consents

• Within the Central Activities Zone and the Aldgate Masterplan

• Located within the London Borough of Tower Hamlets benefitting from Aldgate East Underground station and Whitechapel Crossrail station (Opening December 2018)

• Vacant possession available on completion

Outline for identification purposes only. … 35 A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS

LOCATION The property is located on the northern side of Commercial Road, immediately to the west of its junction with Adler Street with direct frontage to both streets. Aldgate is a popular residential area of East London located a short distance from the City and Shoreditch.

The area currently has a mix of commercial and residential uses in close proximity to the City, the financial heart of London and home to an estimated working population of over 350,000. Commercial Road is widely considered one of London’s growth ‘Hotspots’ and has seen an abundance of regeneration and re-development.

The immediate locality continues to be transformed into a vibrant hub through proposed and existing mixed-use developments surrounding the property, with retailers and restaurateurs benefitting from both the active working population and the residential occupiers providing evening and weekend trade.

Developers including Berkeley, Barratt, Redrow, Telford, London Square, London Newcastle, London and Quadrant all have schemes within the vicinity bringing new residential, commercial occupiers and a new wave of retail and restaurant operators. Increased demand from media and creative businesses has also led to significant commercial investment from investors including British Land, Hermes and Helical Bar.

V

A

ONE OF B L R LA Whitechapel E C C I H O C IS T WEL N L M S K T A LONDON’S CE D

A M

G L O Spitalfields D R S A E EN Market SPITALFIELDS R E P L

R I GROWTH N D M Moorgate O C E H I S A I The Royal ‘HOTSPOTS’ Liverpool Street L D N B R L London Hospital S E E T P A W R H E C E R LO E IT N O DO T N H A WALL W D

T

CITY OF S

H LONDON

C Aldgate R The COMMERC IAL R OAD A U C 13 Bank of England Gherkin Aldgate East H A C Leadenhall N E Bank Market N C L O A E T M E N R E G R A T S S N Shadwell Cannon H T

Street RC S R

U T D FE NCH Fenchurch Street Tower Gateway Monument AY E HW ES ST HE HIG G T LOWE AM Tower Hill D R T H I

R Shadwell E SHADWELL B Tower of Basin London G N

D I O

R D

B N Southwark O R Cathedral L E W O London Bridge T WAPPING … 35 A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS

Shoreditch High Street (10 mins)

Liverpool Street (9 mins)

Whitechapel (10 mins)

Aldgate (3 mins)

Aldgate East (2 mins) Bank (8 mins)

CONNECTIVITY CROSSRAIL Whitechapel Crossrail station is due to provide access to the new Elizabeth Line The area is well served by public transport Fenchurch Street (7 mins) in December 2018, thereby significantly increasing the transport offering within with Aldgate East underground (District & the immediate area. Hammersmith and City lines) at the end of Commercial Road and numerous other Crossrail is Europe’s largest infrastructure project providing new high Tower Hill (9 mins) stations within walking distance. frequency, high capacity trains connecting Reading and Heathrow in the West to Stratford and and beyond in the east. Crossrail will provide an There are also regular bus services along estimated 24 trains per hour providing access to 40 stations, including; Commercial Road (A13), (A11) and Commercial Street (A1202) LIVERPOOL STREET... 2 mins BOND STREET... 10 mins providing easy access to both the City and CANARY WHARF... 3 mins HEATHROW... 38 mins the West End. FARRINGDON... 5 mins READING... 63 mins

Source: Google maps

EUSTON SQUARE BARBICAN MOORGATE LIVERPOOL STREET READING BOND STREET WHITECHAPEL STRATFORD ROMFORD 31 mins 7 mins 5 mins 3 mins ALDGATE 63 mins 10 mins 0.4 miles 2 mins 24 mins 0.5 miles

ST JAMES’S PARK EMBANKMENT CANNON STREET MONUMENT (Opening 2018) 14 mins 11 mins 4 mins 3 mins

PADDINGTON BAKER STREET KINGS CROSS ST PANCRAS FARRINGDON WAPPING CANADA WATER 24 mins 21 mins 13 mins 10 mins ALDGATE 2 mins 5 mins EAST SHADWELL 0.2 miles 0.5 miles

EARLS COURT VICTORIA WESTMINSTER BLACKFRIARS ROTHERHITHE 29 mins 19 mins 16 mins 10 mins 4 mins Source: TfL Source: Crossrail … … 35 A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS

EXISTING RESIDENTIAL BUILDING COMPRISING 36 FLATS

Site outline for identification purposes only. © Crown Copyright, ES 100004106. For identification purposes only.

N DESCRIPTION The existing building currently comprises a five storey above basement residential block of 36 flats (5 x studios & 31 x one beds) with a GIA of approximately 1,236.78 sq m (13,313 sq ft). The site benefits from vehicular access from Adler Street which provides access into a small rear courtyard used for parking and storage.

The building benefits from 36 residents parking permits with LBTH.

The site area is approximately 0.123 acres (0.050 hectares).

Existing ground floor plan. … 35 A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS

PLANNING CONSENT FOR FOUR ADDITIONAL STOREYS

Existing building. Approved Development - Please note this image is only indicative.

PLANNING The building is located within the London CONSENTED SCHEME Borough of Tower Hamlets. The wider In January 2011 planning permission was granted for: A summary of the key general planning considerations are outlined below: surrounding environment comprises a mix of ‘Change of use of part ground floor to retail (Class uses including commercial, retail, education and • The building is not statutorily or locally Listed residential with building heights up to 27 storeys. A1); creation of an additional 4 floors & rear extension; alterations to Commercial Road & Adler Street facades; • The building benefits from an English Heritage decision to refuse The Council’s Aldgate Masterplan identifies the Alterations to existing 36 flats and creation of an Listed building status area as suitable location for tall buildings to mark additional 8 self-contained flats’. • It is not situated within a Conservation Area the gateway to Tower Hamlets. The Masterplan (Ref: PA/10/00676) • The site falls within the Central Activities Zone (CAZ) defined within also promotes a cluster of towers in the area. The the London Plan site is identified within the Master Plan as a focal The conditions of the planning consent required point, earmarked as a place for a design focus implementation by January 2014. The permission has • The Aldgate Masterplan identifies the area as a suitable location where landmark buildings will help a create a been implemented with extensive party wall underpinning for tall buildings sense of place. works and therefore remains extant. Evidence of the • Located in the City Fringe Opportunity area defined within the implemented works is available in the data room. London Plan … … 35 A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS

EXCELLENT REDEVELOPMENT OPPORTUNITY FOR A VARIETY OF USES

CGI of 29-31 Commercial Road.

CGI of pre-app scheme. REDEVELOPMENT POTENTIAL The property presents an excellent redevelopment The Stockwool proposal has been submitted to opportunity to increase the bulk and massing on-site the Council and the GLA to assess its suitability for and deliver a variety of uses including residential. The increasing the massing through a comprehensive vendor has carried out extensive work to prepare the re-development. site for redevelopment and Stockwool Architects have The GLA response to the pre-app is available to designed a scheme which provides 74 flats over 18 download from the data room and states that the storeys with commercial space at ground and lower principle of a residential-led mixed use redevelopment ground floor level. would contribute to the objectives of the London The current proposal comprises 4,416 sq m (47,533 sq ft) Plan. The pre-application meetings with the London NIA of residential accommodation (14 x studios, Borough of Tower Hamlets did not yield a formal 26 x one beds, 29 x two beds, 5 x three beds) and response but suggested a high quality design would 250 sq m (2,691 sq ft) GIA of commercial be needed to justify the loss of the existing building. accommodation at ground and lower ground floor. CGI of pre-app scheme. LOCAL DEVELOPMENTS The Stockwool proposal demonstrates that the site has the potential to increase the bulk and massing The site is located on the eastern corner of a terrace There is development potential for one or more of the following uses: on site to provide a tall building of approximately between White Church Lane and Adler Street which 5,912 sq m (63,632 sq ft) GIA. This provides an ideal also comprises 29 – 31 Commercial Road and 35 • Residential • Hotel opportunity to extensively re-develop the site for Commercial Road. The former recently gained consent • Build to rent / Private Rented • Serviced Apartments residential, commercial or mixed-use purposes. for an 18 storey residential tower, while the latter was Sector developed in 2013 to provide a 19 storey student tower • Offices and 40,000 sq ft University building, both of which set • Co-Living • Student Living the precedent for a tall building on the subject site. … 35 A LOCATION CONNECTIVITY DESCRIPTION PLANNING REDEVELOPMENT POTENTIAL LOCAL DEVELOPMENTS

MAJOR LOCAL DEVELOPMENTS DEVELOPMENT / REGENERATION RESIDENTIAL

AREA 29-31 CITY SCAPE ALTITUDE COMMERCIAL ROAD A 12 storey Telford Homes A 27 storey Barratt Homes An 18 storey development development comprising development providing providing 42 residential 128 residential units 235 residential units with units and commercial at office accommodation. ground floor level (Located on the western end of the same terrace)

COMMERCIAL

ALDGATE TOWER CITYSIDE & 27 CHALLENGER HOUSE COMMERCIAL ROAD A 17 storey Brookfield commercial development An 8 storey Great Portland A 21 storey 178 unit providing 317,000 sq Estates commercial aparthotel due to be ft of Grade A office development providing operated by Go Native. accommodation. 76,500 sq ft (7,106 sq m) of office space and 171 room hotel.

MIXED USE

60 GOODMAN’S FIELDS ALDGATE PLACE COMMERCIAL ROAD A 23 storey Berkeley A Barratt Homes and A pure Student Living Group development British Land development development comprising comprising multiple comprising three 417 student rooms and buildings providing towers in excess of 20 27,000 sq ft of retail and 900 residential units, over storeys providing a 160 office accommodation 600 student rooms, a room hotel and over (Located opposite the 250 room hotel and over 450 residential units subject property) 100,000 sq ft of retail and with retail and office office space. accommodation. …

VAT We understand that the property is not elected for VAT.

EPC Individual EPC’s for each flat are available to download from the data room.

DATAROOM Further information can be downloaded from the dataroom www.35acommercialroad.com including:

• EPC’s • Evidence of implementation • Existing and proposed floor plans • Pre-application submission documents • Consented planning documents • Pre-application response PROPOSAL

Unconditional offers are invited for the freehold interest with vacant possession provided on completion.

If you would like to inspect the property or require any further information then please do not hesitate to contact the joint agents listed below:

www.allsop.co.uk

Development Commercial Development Anthony Dixon Richard How Andrew Boyd James Abrahams 020 7344 2625 020 7344 2652 020 7344 2609 020 7330 1979 [email protected] [email protected] [email protected] [email protected]

www.savills.com

Development Alex Soskin Hugh Bushell Ed De Jonge 020 7409 9993 020 7075 2860 020 7016 3849 [email protected] [email protected] [email protected]

Misrepresentation Act: 1. Allsop LLP and Savills on its own behalf and on behalf of the instructing party of this portfolio whose agent Allsop and Savills 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 instructing party does not make or give, and neither Allsop or Savills nor any of their 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, undertakings and contractual obligations to be given or undertaken by the instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party 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. Allsop is the trading name of Allsop LLP. Design: Command D - www.commandhq.co.uk 11.17 CGI of pre-app scheme.