Prime Mixed Use Consented Development Opportunity SUMMARY • Shoreditch is one of Central London’s most exciting sub- markets and has become one of London’s fastest growing economic districts • Prime development opportunity on a site of 0.07 hectares (0.17 acres) • 150 metres from Shoreditch High Street Station, 500 metres from Liverpool Street Station and 700 metres from Old Street Station • The site benefits from detailed planning permission for the demolition of the existing petrol filling station and the erection of a 6 storey (plus basement) mixed use development comprising a restaurant over the basement and ground floors, with five floors of office accommodation above • The basement and ground floor restaurant has been pre-let to Alan Yau • Long leasehold for a term of 150 years from completion, at an initial head rent of £200,000 per annum • Offers are invited, subject to contract, for the benefit of the long leasehold interest 2 LOCATION Shoreditch is one of Central London’s most exciting sub-markets. Situated on the north east boundary of the City of London and a short distance to the east of Old Street roundabout, Shoreditch has become one of London’s fastest growing districts. Following years of redevelopment the area is now home to many of London’s most fashionable restaurants, hotels and retailers. Located predominantly in the London Borough of Hackney, Shoreditch benefits from excellent communication links with Old Street (Northern Line), Liverpool Street (Central, Circle, Hammersmith & City and Metropolitan Lines) and Shoreditch High Street (London Overground) stations all within walking distance of the property. In addition, numerous bus routes pass along Shoreditch High Street, linking the area to the wider reaches of London. Shoreditch High Street and the surrounding streets have become an increasingly fashionable location with hip hotels, unique boutiques, highly regarded retailers and many well-known restaurants. The location is a highly sought after office, retail and leisure destination with requirements escalating in the past few years as the popularity and prestige of the location have increased. Hotel and restaurant occupiers include; Shoreditch House, The Ace Hotel, The Hoxton Hotel, Dishoom and Hoi Polloi. The Nobu Hotel is due to open in 2017. Amongst the retailers are Kit and Ace, Aesop, APC and Sunspel. Boxpark houses a number of independent brands whilst The Truman Brewery is also home to many retailers and leisure occupiers. Office occupiers now include L.K. Bennett, William Hill PLC, Farfetch, Oasis, Firebox.com, Network Rail, The Office Group, CBS Interactive and Dazed Digital. 3 Liverpool Street Station The Truman Brewery The Shoreditch estate gOOGLE campus Shoreditch High Street Station The Bower The Tea Building Principal Place The Bishopsgate Goodsyard The White Collar Factory BOXPARK The Stage The Curtain Hotel Old Street Station 201-207 Shoreditch High Street ACE HOTEL Hoxton Hotel Shoreditch Village The Atlas Building 4 Local Developments White Collar Factory The Bishopsgate Goodsyard Old Street Roundabout Shoreditch High Street A 278,000 sq ft office and retail scheme, together A Hammerson and Ballymore joint venture comprising with 10,000 sq ft of residential developed by a mixed used 4.7 hectare site to provide up to Derwent London. Scheduled for completion in 2,000 new residential units, office accommodation, Q4 2016. Further information is available at retail and leisure amenities and over 1.8 hectares whitecollarfactory.com. of public realm space. The Atlas Building 201-207 Shoreditch High Street 145 City Road A development by Highgate Holdings will include a 200-room luxury hotel and 127,724 sq ft of office Rocket Investments have started development on the 40 space arranged over 30 storeys. The project is storey, 302 apartment residential tower development expected to be delivered in 2018. which will also benefit from a generous public realm space, offices and retail. Demolition has started on site with completion expected by 2018. Principal Place The Bower Worship Street A 600,000 sq ft Foster & Partners designed mixed- Old Street Roundabout use development by Brookfield. Amazon, the global on-line retailer, has pre-let 430,000 sq ft of A new landmark quarter developed by Helical plc space. Scheduled for completion in late 2016. featuring 320,000 sq ft of office, restaurant and Further information is available at principalplace. retail accommodation. Phase 1 is now complete and co.uk fully let. The Stage The Shoreditch Estate Curtain Road Blossom Street The Stage, by Galliard Homes, will be a new mixed-use development in the heart of Shoreditch A 192,000 sq ft 3 phase mixed-use development by consisting of 400,00 sq ft of offices, 412 British Land. The development is taking place on a apartments set within a 37 storey tower, leisure site of 2 acres and planning has been secured for space and retail. Further information is available phase 1. at thestageshoreditch.com Shoreditch Village The Curtain Hotel Shoreditch High Street 45 Curtain Road A 150,000 sq ft mixed-use and public realm scheme The hotel is being developed by Gansevoort Hotel situated opposite the iconic Tea Building on Group and will comprise 120 guest rooms, a rooftop Shoreditch high Street. Phase one is already under pool and lounge and over 6,000 sq ft of meeting and construction with phase two, 50,000 sq ft of offices event space. The hotel is due to open in 2017. and retail space currently in for planning. 5 Situation The property is situated on the west side of Shoreditch High Street, opposite Redchurch Street, a busy thoroughfare running from Hoxton in the north to the City in the south. It is bounded by Great Eastern Street and Old Street to form what has been historically known as the ‘Shoreditch Triangle’ comprising the main hub of activity in the area. The world famous TEA building and Shoreditch House members club is located directly opposite the property, with Shoreditch High Street Station, The Goodsyard and Highgate Holding’s 200-room hotel development only a short distance away. N E W N HAERON R D hoxton ove ay Gr Murr d d a r R i y b e m d n u R l t k o s c d a C n H a n CI o t T l Y t R s s D x d g o l n h i ie K f t i p T S T LD O S H RD EN OLD STREET RE G L G I NA G ETH t B H r S ea ow H R an’s em y Bat t C r Ea T t I a T 9 S s d LD s D 0 O te 2 1 g n E A n u t r i h S n urc n o ch OR Red n St B H A S D REE Inn Yard R New Y T I C d Shoreditch a o high street r Qu n aker St i a 1 t 0 r 5 u A C e t a C g o s m m Whitechapel op h e Hanbury st s r i B c t i ield s rushf a b 0 l 1 S A Moorgate Liverpool t d M R street el i p d ha d ec L l it on e h do s W n e Wa ll x 11 s A t Aldgate EAST A 13 Com mercia Aldgate l Road Whitechapel 6 Existing TENURE DESCRIPTION AND ACCOMMODATION The property is held long leasehold upon the following terms: The property comprises a former petrol filling station which is currently being used as a street food market. The site area is Term approximately 0.07 hectares (0.17 acres). 150 years from completion. The lease is excluded from the security of tenure and compensation provisions of sections 24-28 of the Landlord and TENANCY Tenant Act 1954 (as amended). Shoreditch High Street The property is let Initial Rent to La Brea Limited £200,000 per annum. for a term of five st years from 1 April Rent Reviews 2014, expiring on NAVARRE STREET Five yearly upwards only rent reviews to the 31st March 2019, highest of: subject to a rolling Batemans Row A10 mutual break option 1. 10% of open market rent (assuming completed on one month’s BOUNDARY STREET development); Shoreditch High Street written notice. 2. RPI linked increase; or The current rent is ANNING STREET 3. 110% of previous passing rent. £100,000 per annum. Permitted Use Within classes A, B or D2 of the Town and Country Old Nichol StREET BOUNDARY PASS Planning (Use Classes) Order 1987 only. NEW INN YARD Alienation A10 Assignment or charging of part prohibited. REDCHURCH STREET Repair Shoreditch High Street Full Repairing and Insuring terms. Overage If further planning permission is obtained and implemented at any time during the term increasing the gross internal area of the premises from HOLYWELL LANE that authorised by the 2016 planning consent, an overage is payable at £300 (increasing in line A120 BETHNAL GREEN ROAD with RPI) per square foot on the increased area. Plan not to scale, indicative only. A copy of the headlease is available on the electronic data room. 7 Consented SCHEME The scheme was drawn up by Kyson Architects to provide a modern interpretation of the local tradition of the Victorian warehouse that characterises the South Shoreditch Conservation Area. The architect proposes to construct a six storey plus basement mixed use scheme to comprise a restaurant over basement and ground floors with office accommodation over 1st - 5th floors. To the upper floors the main mass of the building is stepped inwards to create a roof terrace and pavilion.