Commercial Road London E1
Total Page:16
File Type:pdf, Size:1020Kb
… 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 … 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 STEPNEY 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 CABLE 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 Canary Wharf 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), Whitechapel Road (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.