the PARKSIDE parksideportfolio.com 1

Transcription

1 the SIDE portfolio parksideportfolio.com 1

2 A first class residential investment portfolio comprising eight, carefully selected blocks, in some of London s most popular locations 2 parksideportfolio.com

3 the SIDE portfolio parksideportfolio.com View from Richmond Park 1

4 the SIDE portfolio Executive Summary The Parkside Portfolio comprises eight high quality assets in strong residential locations across London. It represents a rare opportunity to acquire a residential portfolio of significant scale. The portfolio has been carefully compiled by selecting individual blocks in eight separate locations across London. The assets flow from east to west taking in areas such as the City, West End, Battersea, Wandsworth, Wimbledon, Twickenham, Richmond and Hampton. All of the blocks have excellent access to amenities and transport links and offer strong capital and rental growth prospects. The Parkside Portfolio comprises 138 individual properties within eight unbroken blocks*. The blocks have all been constructed within the last 15 years and have been diligently maintained by the current owner during this period. The portfolio has also been conscientiously managed by the same managing agent during the owners tenure. All of the assets are located in very popular residential areas and as a result occupancy rates have been consistently high. For a detailed suite of property details please visit: * Note: There are two properties in Horizon which are not owned but which have separate access. Key Investment Criteria No. of assets 8 No. of properties 138 Net sellable area (sq ft) 111,021 Initial rent 2,761,920 ERV 3,047,200 ERP* 61,650,000 ERP* (per sq ft) 555 Occupancy rate 99.28% * ERP: Estimated Realisation Price - the estimated market value of the properties on an individual basis with the benefit of vacant possession. 2 parksideportfolio.com

5 1 EVANGELIST HOUSE CITY OF LONDON 2 1 DURWESTON STREET WEST END 3 QUEENSTOWN PLACE BATTERSEA 4 HORIZON BUILDING WANDSWORTH 5 MONTWAY HEIGHTS 6 CARNA COURT RICHMOND 7 Michell HOUSE TWICKENHAM 8 KYLE HOUSE KENSINGTON LORD S CRICKET GROUND ROYAL ALBERT HALL HYDE LONDON ZOO REGENT S 2 BAKER STREET OXFORD CIRCUS WEST END GREEN BUCKINGHAM PALACE CITY OF LONDON LONDON EYE HOUSES OF PARLIAMENT SMITHFIELD MARKETS 1 ST PAUL S CATHEDRAL TATE MODERN WATERLOO SPITALFIELDS MARKETS ST PAUL S THE SHARD TWICKENHAM TWICKENHAM RUGBY STADIUM 8 BUSHY HAM HOUSE GARDENS COURT COURT PALACE TWICKENHAM 7 KEW GARDENS 6 RICHMOND RICHMOND RICHMOND COMMON TENNIS CLUB FULHAM WANDSWORTH CHELSEA BATTERSEA POWER STATION BATTERSEA CHELSEA HARBOUR CLAPHAM JUNCTION CLAPHAM COMMON CLAPHAM THE OVAL CRICKET GROUND parksideportfolio.com 3

6 The parkside Portfolio Evangelist House Blackfriars Lane City of London EC4V 6EP 1 Units 16 Area (sq ft) 13,845 ERP 10,885,000 Passing Rent (pa) 429,333 Occupancy 100% ERV 466,180 Leasehold Not to Scale - For Identification Purposes Only. HOLBORN CHANCERY LANE FLEET STREET NEW FETTER LANE VICTORIA EMBANKMENT A40 NEWGATE STREET FARRINGDON ST A201 BLACKFRIARS BRIDGE CITY THAMESLINK LONDON BLACKFRIARS LUDGATE HILL BLACKFRIARS LN RIVER THAMES ST PAUL S QUEEN VICTORIA STREET UPPER THAMES STREET Location Evangelist House is centrally located within the City of London. Situated in the heart of the City s main business district, the local area is close to major legal firms in addition to having access to first class amenities. St Paul s Cathedral and the River Thames are both nearby, as are highly iconic modern buildings such as The Gherkin and Heron Tower. Blackfriars mainline and Underground station is less than a five minute walk away. Description Constructed in 2001 by St. George, the development comprises 16 apartments above retail premises (separately owned). All but two of the units are currently on short term company lets. The remaining two units are on ASTs. Each apartment is held on a long lease of 150 years from 2000 and a ground rent of per annum. 4 parksideportfolio.com

7 The parkside Portfolio 1 Durweston StREET west end W1H 1PJ 2 Units 15 Area (sq ft) 8,863 ERP 9,710,000 Passing Rent (pa) 343,980 Occupancy 100% ERV 451,360 Leasehold Not to Scale - For Identification Purposes Only. MARYLEBONE EDGWARE RD RD MARYLEBONE RD CRAWFORD ST MARBLE ARCH HYDE GLOUCESTER PL BAKER ST REGENT S BAKER STREET GEORGE ST THAYER ST OXFORD ST BOND STREET BROOK ST GROSVENOR ST PORTLAND PL MORTINER ST REGENT S OXFORD CIRCUS Location 1 Durweston Street is located in Marylebone within the City of Westminster. Marylebone is a popular area in London s extremely affluent West End. Marylebone Village, immediately to the east, is characterised by boutique shops, bars and restaurants. The area is known for its many private surgeries and dental practices. Both Regent s Park and Hyde Park are close by, as are the world class shopping amenities of Oxford Street and Bond Street. 1 Durweston Street is located within a five minute walk of Marylebone mainline and Underground station and also Baker Street Underground station, providing direct access into the City and also Canary Wharf. Description Constructed in the late 1990s by St. George, the development comprises 15 apartments above retail premises (separately owned). There is a secure basement car park, accessed by electric gates, for 10 spaces at the rear of the development. All of the units are currently on short term company lets. Each apartment is held on a long lease of 999 years from 1997 and a ground rent of per annum. parksideportfolio.com 5

8 The parkside Portfolio Queenstown Place 41a Queenstown Road Battersea SW8 3RE 3 Units 16 Area (sq ft) 14,151 ERP 7,010,000 Passing Rent (pa) 350,054 Occupancy 100% ERV 366,860 Leasehold Location Description Not to Scale - For Identification Purposes Only. BATTERSEA BRIDGE RD BATTERSEA RD CLAPHAM JUNCTION BATTERSEA QUEENTOWN ROAD WANDSWORTH RD BATTERSEA RISE CLAPHAM COMMON BATTERSEA QUEENSTOWN ROAD WANDSWORTH ROAD CLAPHAM HIGH STREET CLAPHAM NORTH CLAPHAM HIGH ST Queenstown Place is located in Battersea, in the Borough of Wandsworth in South West London. Queenstown Road is known for its many shops, bars and restaurants and this area of Battersea is popular with young professionals due to its proximity to Central London. The development is equidistant from the beautiful, leafy parks of Battersea Park and Clapham Common and is also close to the River Thames. The nearest train stations are Queenstown Road and Wandsworth Road which are approximately a ten minute walk from the development and provide excellent access into Central London (Waterloo) in less than 15 minutes. Constructed in 2004 by St. George, Queenstown Place is a modern block of 16 residential apartments set above retail premises (separately owned). A number of the units benefit from balconies or roof terraces and there is a communal garden to the rear. There are 19 surface car parking spaces accessed via Stanley Grove through an electric gate at the rear of the development. Apartments are currently let on ASTs aside from 1 unit which is on a Non Housing Act Tenancy. Each apartment is held on a long lease of 999 years from 1997 and a ground rent of per annum. 6 parksideportfolio.com

9 The parkside Portfolio 4 Horizon Building 347 York Road Wandsworth SW11 3QY Units 17 Area (sq ft) 11,427 ERP 5,695,000 Passing Rent (pa) 295,397 Occupancy 100% ERV 316,420 Leasehold Location Description Not to Scale - For Identification Purposes Only. KING S RD WANDSWORTH BRIDGE RD IMPERIAL WHARF YORK RD WANDSWORTH TOWN BATTERSEA RISE TRINITY RD BATTERSEA BRIDGE RD ST JOHN S HILL CLAPHAM JUNCTION BATTERSEA BATTERSEA RD CLAPHAM COMMON The Horizon Building is very conveniently located close to the banks of the River Thames in the Borough of Wandsworth in South West London. The immediate area has undergone considerable redevelopment in recent years and outstanding developments such as Battersea Reach, which is situated adjacent to Horizon, have enhanced the area connecting York Road with the River Thames. The area is very popular with young professionals. The nearest train station is Wandsworth Town which provides access to Central London (Waterloo) in around 15 minutes. York Road is also on many bus routes into Central London. Constructed in 2005 by Persimmon, the development comprises 17 apartments situated above retail premises. The majority of apartments have balconies, and in addition the block benefits from a roof terrace giving a wonderful city view. The property benefits from 14 secure under ground car parking spaces. All apartments are currently let on ASTs. Each apartment is held on a long lease of 125 years from 2004 and a ground rent of 250 per annum. parksideportfolio.com 7

10 The parkside Portfolio Montway Heights 2a Montague Road Wimbledon SW19 1SA 5 Units 19 Area (sq ft) 18,321 ERP 8,630,000 Passing Rent (pa) 409,400 Occupancy 100% ERV 423,540 Freehold Not to Scale - For Identification Purposes Only. COMMON WOO SIDE HIGH ST DHAYES RD WORPLE RD TENNIS CLUB COMMON RD ARTHUR RD DUNDONALD ROAD KINGSTON RD MERTON RD HAYDONS ROAD THE BROADWAY HAYDON S RD SOUTH Location Montway Heights is located in Wimbledon Town Centre in the Borough of Merton in South West London. Wimbledon is popular with young professionals and families alike, who are drawn to the open spaces of Wimbledon Common and Wimbledon Park, the good schools and also proximity to Central London. Wimbledon is famously home to the All England Tennis Club. Wimbledon mainline train station and Underground station is less than a five minute walk from the development and provides overground access into Central London (Waterloo) in under 20 minutes. Description Constructed in 2000 by Thirlstone Homes, the development comprises 19 apartments above retail premises (separately owned). There is secure under-croft parking for 19 cars to the rear of the development. All but 2 of the 19 apartments are held on ASTs. The remaining 2 units are on Non Housing Act Tenancies. The block is freehold. 8 parksideportfolio.com

11 The parkside Portfolio Carna Court 145 Kew Road Richmond TW9 2PN 6 Units 20 Area (sq ft) 19,332 ERP 9,265,000 Passing Rent (pa) 426,863 Occupancy 100% ERV 460,720 Freehold Not to Scale - For Identification Purposes Only. LONDON HIGH ST ROYAL MID-SURREY GOLF CLUB RICHMOND KEW GARDENS KEW GARDENS KEW RD LOWER MORTLAKE RD SHEEN RD CHISWICK MORTHAKE RD NORTH SHEEN RICHMOND SHEEN LN Location Carna Court is located in Richmond in the London Borough of Richmond Upon Thames. Situated on a meander of the River Thames, Richmond is an extremely affluent London suburb, which is very popular with families and young professionals. Richmond Park, the largest of London s eight Royal Parks, is famous for its array of wildlife, including 650 free roaming deer. Richmond mainline train station and Underground station is less than a five minute walk from the development and provides access into Central London. Description Constructed in 1998 by St. George, the development comprises 18 apartments and 2 townhouses. There are 20 secure car parking spaces, accessed by electric gates, to the rear of the development. 6 apartments are let on ASTs. The remainder are on short term company lets, of which 4 are on Non Housing Act Tenancies. The block is freehold. parksideportfolio.com 9

12 The parkside Portfolio Michell House 87 / 109 Heath Road Twickenham TW1 4AZ 7 Units 21 Area (sq ft) 13,219 ERP 6,125,000 Passing Rent (pa) 297,634 Occupancy 95.23% ERV 333,060 Leasehold Location Description TWICKENHAM RUGBY STADIUM STAINES RD TWICKENHAM A305 ST MARGARETS Michell House is located in Twickenham in the London Borough of Richmond. The area is famous for being home to England Rugby Football and is a sought after residential location enjoying easy access to Central London. Constructed in 2000 by Michael Shanly Homes, the development comprises 21 apartments above retail premises (separately owned). There 21 secure car parking spaces, accessed by electric gates, to the rear of the development. Not to Scale - For Identification Purposes Only. WALDEGRAVE RD BUSHY STRAWBERRY HILL TWICKENHAM B ROAD ST QUEEN S RD HAM RD TEDDINGTON UPPER HAM RD RICHMOND The area is steeped in history, with many attractions such as York House Gardens, Marble Hill House and Orleans House Gallery. Twickenham also hosts a very popular farmers market at weekends. Twickenham mainline train station and Underground station is less than a five minute walk from the development and provides access into London Waterloo. All of the units are let on ASTs. Each apartment is held on a long lease of 125 years from 2000 and a ground rent of 300 per annum. 10 parksideportfolio.com

13 The parkside Portfolio Kyle House 26 / 32 High Street Hampton TW12 2SL 8 Units 14 Area (sq ft) 11,863 ERP 4,330,000 Passing Rent (pa) 209,259 Occupancy 100% ERV 229,060 Freehold Location Description Not to Scale - For Identification Purposes Only. HIGH ST THAMES ST HURST RD WALTON RD COURT BRIDGE RD BROAD ST TEDDINGTON COURT COURT ROAD COURT PALACE Kyle House is a modern residential development situated close to the River Thames in Hampton within the London Borough of Richmond upon Thames. Hampton is a desirable London suburb with an appealing riverside village atmosphere. Key attractions in the area are Hampton Court Palace to the east, the Thames Path to the south and Hampton Open Air Swimming Pool. Bushy Park is near by and gives access to a wonderful amenity, inextricably linked to the history of the Palace. Hampton (London) Mainline Train Station is within a five minute walk providing direct access to London Waterloo in 43 minutes. Constructed circa 2002 by St. George, the development comprises 14 apartments. There are 14 secure surface car parking spaces to the rear of the property accessed via electric gates. Apartments are currently let on ASTs. The block is freehold. parksideportfolio.com 11

14 Disposal Process The Parkside Portfolio is being offered for sale by means of a private treaty. It is proposed that the sale will be conducted in two stages. At the first stage all parties will be invited to submit bid proposals for The Parkside Portfolio. A shortlist of parties will then be invited forward to stage two to submit best and final bids. After stage two a Preferred Bidder will be selected and offered an exclusivity period in which to exchange unconditional contracts. Viewing In order to keep tenant disruption to a minimum no internal access will be given until Preferred Bidder status is granted after stage two bids. For further information and a full suite of property data, including EPCs, please visit: Contact Residential Capital Markets Peter Allen Director Head of Residential Investment +44 (0) (0) [email protected] James Laverack Associate Director Residential Investment +44 (0) (0) [email protected] Davina Clowes Residential Investment +44 (0) (0) [email protected] James Coghill Director Head of Residential Capital Markets +44 (0) (0) [email protected] London Development Luke Hawkesbury Director Development +44 (0) (0) [email protected] Andrew Cox Associate Director Development +44 (0) (0) [email protected] savills.co.uk Important Notice Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the properties either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any rental levels, ERPs, ERVs, areas, measurements or distances are approximate and should not be relied upon. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the properties have all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Designed and Produced by Savills Marketing: September parksideportfolio.com

15 parksideportfolio.com 13

16 14 parksideportfolio.com