savills london residential development development...
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Savills London Residential Development Development Land
savills.co.uk/londonland
A selection of deals from Q4 2014
In 2014 we transacted £1.1 billion in land value, making Savills a market leader in the acquisition and disposal of residential land and development opportunities.
•74 acquisitions or disposals exchangedin2014
•£1.1bn in landvaluetransactedThemarketremainedstronginQ42014,evidencedbytheselectionofourtransactionshighlightedoverthefollowingpages.
ThedemandforresidentialdevelopmentlandanddevelopmentopportunitieswithinLondonhasbeeninsatiableandisexpectedtocontinue,allowingustoachieveexceptionalvalueforourclients.
Morestockisneededfromsmalltolargelotsizestosatisfyourdisappointedunderbidders.PleasecontactoneoftheSavillsteamatthebackofthebrochureifyouwishtodiscussanyopportunities.
Tim Whitmey Director+44 (0) 20 7409 [email protected]
The Old Gas Works, Sutton SM1
Long leasehold sale of the residential element of a major mixed use development opportunity, comprising a cleared development site with planning permission for 186 private residential units.
Status: Sold
Date: December 2014
Vendor: LXB Retail Properties Plc
Purchaser: National Housebuilder
Sale Price: £13.6 million
“LxB instructed Savills to undertake residential development consultancy and affordable housing viability on this key Sutton regeneration site. This advice assisted us to secure a valuable consent; we subsequently instructed the Savills Land team to trade the residential component of this mixed use opportunity. We were hugely impressed by Savills considered advice and attention to detail which allowed us to generate a significant value for such a location.”
Giles Haywood, LXB Properties
CGI
500 Chiswick High Road, Chiswick W4
Freehold sale of vacant serviced offices and residential accommodation, with planning permission for 56 residential apartments alongside five townhouses and 1,168 sq m (12,572 sq ft) of gross internal office accommodation.
Status: Sold
Date: October 2014
Vendor: Centre 500 Ltd
Purchaser: National Housebuilder
Sale Price: Excess £20 million
8 South Audley Street & 51 Hill Street, Mayfair W1
Freehold sale of a grade II listed building and new build accommodation block totalling approximately 32,639 sq ft. The two buildings are registered under the same freehold title, but are subject to a full repairing and insuring lease, which was granted to the Governor-General of India for a term of 99 years from 25th December 1948.
Status: Sold
Date: December 2014
Vendor: Roselain Ltd
Purchaser: Private Trust
Sale Price: Confidential
“For many years we have benefited from the advice and expertise of the Savills development team. We continue to work very well together, and are most satisfied with the process and outcome of the recent sale of 8 South Audley Street in Mayfair. Tim, Luke & Lizzie, from our experience, offer the best in class market knowledge, discretion, analysis and service delivery; we recommend the team without hesitation.”
Owen Kelly, Roselain Ltd
“Savills added value throughout the planning process by providing up to the minute market advice. They then ran an extremely professional marketing process, targeting their database of active developers and we are delighted with the sale price we achieved.”
James Shindler, Centre 500 Ltd
CGI
CGI
Raglan Court, Empire Way, Wembley HA9
Freehold sale of three residential blocks, comprising 118 flats and 76 garages, with substantial development potential. The 3.7 acre site is adjacent to the retail and leisure offering at Wembley City.
Status: Sold
Date: December 2014
Vendor: Infrared Capital Partners
Purchaser: Residential Investor
Sale Price: £17.6 million
2 Millharbour, Canary Wharf E14
Freehold site of 2.65 acres (1.1 hectares) in a prime Canary Wharf location with a planning application for 699 high-specification private residential units (plus 94 intermediate and 197 affordable rented), car parking, and retail and restaurant uses at ground floor totalling 106,537 sq m GIA.
Status: Sold
Date: November 2014
Vendor: Pembroke Real Estate (Fidelity Investments)
Purchaser: UK Prop Co
Sale Price: Confidential
“Working with Savills was a pleasure. The team brought energy and enthusiasm to our mandate and helped devise a strategy to optimise the timing of our sale. They took the time to understand our company culture, and appreciated our need for discretion. All of this contributed to an outcome that exceeded investor expectation.”
Page Harrison, Pembroke Real Estate
CGI
3 – 5 Nightingale Lane, Clapham SW4
Acquisition of this circa 1 acre site comprising an existing office building owned by the Metropolitan Police
Status: Acquired
Date: October 2014
Vendor: Metropolitan Police
Purchaser: Care Providers
Guide Price: Excess £25 million
Mulberry House, 583 Fulham Road, Fulham SW6
Acquisition of a commercial building with permission for conversion into nine residential units
Status: Acquired
Date: December 2015
Vendor: Property Receivers
Purchaser: Residential Developer
Sale price: Confidential
12 – 14 Letchford Gardens, Kensal Rise NW10
Freehold sale of a former neighbourhood community centre with planning permission for demolition and erection of 2 three bedroom houses
Status: Sold
Date: December 2014
Vendor: Private Prop Co
Purchaser: Residential Developer
Sale Price: Excess £1 million
237-247 Rye Lane, Peckham SE15
Freehold sale of a site extending to 0.17 acres with planning permission for a building of four to seven storeys comprising retail space at ground floor and 27 residential units above
Status: Sold
Date: December 2014
Vendor: Property Investor
Purchaser: Registered Provider
Sale Price: £4.6 million
CGI
CGI
Architects drawing
Forsyth House, Lower Richmond Road, Richmond TW9
Freehold sale of this largely vacant 4 storey office building extending to approximately 15,000 sq ft
Status: Sold
Date: December 2014
Vendor: Private Company
Purchaser: Residential Developer
Sale Price: £5.8 million
Land at Savoy Place, Covent Garden WC2
Acquisition of a 63 sq m former car park with planning permission for a 138 sq m office development and residential development potential
Status: Acquired
Date: December 2014
Vendor: UK Charity
Purchaser: Investor / Developer
Sale Price: £0.9 million
Nestle Works, North Hyde Gardens, Hayes UB3
Unconditional acquisition of a 30 acre site comprising a former Nestle factory and associated offices, with potential for major mixed use development.
Status: Acquired
Date: December 2014
Vendor: Major Corporate
Purchaser: UK Reit
Sale Price: Confidential
Tech West House, 4 – 14 Warple Way, Acton W3
Freehold sale of an existing office building totalling 4,288 sq m with proper approval for part conversion into 46 residential units
Status: Sale
Date: December 2014
Vendor: Fixed Charge Receivers
Purchaser: Residential Investor / Fund
Sale Price: £9.55 million
Architects drawingCGI
Architects drawing
Key contacts
Central North South
East
South West
South East
PA & Team Secretary
Tim Whitmey Director+44 (0) 20 7409 [email protected]
Darren ArnoldDirector+44 (0) 20 7409 [email protected]
Andrew CoxDirector+44 (0) 20 7016 [email protected]
Luke HawkesburyDirector+44 (0) 20 7409 [email protected]
Harry de LotbiniereAssociate Director+44 (0) 20 7016 [email protected]
Andrew BoydDirector+44 (0) 20 7409 [email protected]
Ed de JongeDirector+44 (0) 20 7016 [email protected]
Andrew CooperAssociate+44 (0) 20 7016 [email protected]
Lizzie ParrottSurveyor+44 (0) 20 7409 [email protected]
Sean CooperSurveyor+44 (0) 20 7409 [email protected]
Simon WelchAssociate+44 (0) 20 7409 [email protected]
Helen BrownTeam Secretary+44 (0) 20 7409 [email protected]
WestRob PollockDirector+44 (0) 20 7409 [email protected]
Amelia ChubbAdmin Assistant+44 (0) 207 299 [email protected]
Our Coverage
We cover all areas of London, demonstrated by the map of our 2014 deals below:
Robert WilsonSurveyor+44 (0) 20 3320 [email protected]
savills.co.uk/londonland