Arena House, Pentonville Road, London N1 9HS Prime Development Opportunity For Sale

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1 Planning Now Appr oved Improved Arena House, Pentonville Road, London N1 9HS Prime Development Opportunity For Sale

2 SUMMARY SUMMARY Freehold office building constructed over 5-storeys with a 3-storey warehouse at the rear Benefitting from planning permission for the construction of a new 8-storey building to provide 9 luxury apartments and 955m² of B1 space Highly sought-after location within a short walking distance of Upper Street, as well as Angel and Kings Cross St. Pancras stations Unconditional offers invited in excess of 6,500,000. Alternatively, offers in excess of 4,500,000 will be considered, subject to the commercial space being returned to the Seller on a 999 year lease for a premium of 2,000,000

3 DESCRIPTION & LOCATION DESCRIPTION Existing GIA: Pentonville Road Existing GIA: 5-6 Penton Grove sq.m sq.ft sq.m sq.ft Lower Ground , ,098 Ground , ,873 First , ,711 Second ,122 LOCATION Third ,139 Total , ,682 Haggerston York Way The property is prominently located on the northern side of Pentonville Road, in close proximity to both King s Cross and Old Street Roundabout (London s tech hub). Mornington Crescent Crowndale Rd Pancras Rd Pentonville Road Angel Pitfield St Midland Rd The immediate area comprises a mixture of high-quality residential and commercial property, with the majority of shops, restaurants and amenities situated on nearby Upper Street. The building s location benefits from being outside the London Congestion Zone, yet still sits strategically within central London s extensive communications infrastructure. Eversholt St London Euston Euston Square King s Cross St Pancras Gray s Inn Rd Swinton St Percival St City Rd Old Street East Rd Hoxton Hoxton Gosset St Baker The nearest London Underground station is Angel (Northern Line services) which is within Street a 3 minute walk of the property and provides fast access into the City, Midtown and the West End. The property is situated within an 8 minute walk of Kings Cross St. Pancras station, which provides National Rail, Eurostar and London Underground Circle, Hammersmith and City, Metropolitan, Northern, Piccadilly and Victoria Lines) services. The property is located within the London Borough of Islington. Seymour Pl Edgeware Rd Crawford St George St Seymour St Marble Arch Park Ln Marylebone Rd Paddington St Regent s Park Bond Street Weymouth St New Cavendish St Brook St Warren Street Great Portland Street Oxford Circus Regent St Howland St Goodge Street Oxford Tottenham Court Rd Leicester Square Piccadilly Circus Shaftesbury Ave New Oxford St Russell Square Bloomsbury Way High Holburn Guildford St Holborn Kingsway Theobalds Rd Temple Chancery Lane Holborn London Blackfriars Clerkenwell Rd City Thameslink Farringdon Barbican St Paul s Mansion House London Wall London Cannon Street Moorgate Bank Liverpool Street Monument Shoreditch High St London Fenchurch Street Shoreditch High Street Commercial St Aldgate Minories Tower Gateway Tower Hill Aldgate East Mansell St Cheshire Whitechape Piccadilly Green Park Pall Mall Charing Cross Embankment Stamford St London Bridge London Waterloo Southwark St London Bridge

4 DESCRIPTION & LOCATION King s Cross St. Pancras Station Pentonville Road Upper Street Angel Station Google Guardian Newspaper Eviivo Ticket Master Elite Models Expedia To West End To City

5 PLANNING PLANNING Unit Floor Description NIA sq.ft NIA sq.m The existing property benefits from B1(a) Use Class, having most recently been used as serviced offices. The building is not Listed and is not located within a Conservation Area. The site benefits from detailed planning permission, granted 6th November 2014 (reference P2014/3020/FUL), for demolition of the existing buildings and the construction of a part-2, part-3 and part 8-storey (including basement level) building to provide approximately 950m² of commercial space (Use Class B1(a)) over the basement, ground and 1st floors and 9 residential units over the 2nd, 3rd, 4th, 5th and 6th floors, together with a landscaped frontage, and integrated refuse and bicycle stores. The planning consent is subject to a Section 106 Agreement which provides for a car-free development, as well as an Affordable Housing Contribution of 450,000, a Carbon Offset Contribution of 8,000 and a Mayoral CIL liability of circa 50,300. There may be potential to revise the current planning permission to create an entirely commercial scheme of circa 20,000ft² (NIA), subject to obtaining the necessary consents. C1 Lower Ground B1 Office 3, C2 Ground B1 Office 2, C3 First B1 Office 3, C4 Second B1 Office Commercial Total 10, Second 2 Bedroom Apartment Second 2 Bedroom Apartment Third 2 Bedroom Apartment Third 2 Bedroom Apartment Forth 3 Bedroom Apartment 1, Forth 1 Bedroom Apartment Fifth 3 Bedroom Apartment 1, Fifth 1 Bedroom Apartment Sixth 2 Bedroom Penthouse 1, Residential Total 8, Grand Total 18,820 1,749

6 MARKET COMMENTARY OFFICE MARKET Office rents in both Islington and Kings Cross have significantly increased within the last 3-5 years. Significant changes include the emergence of numerous new developments, an improved transport system and an influx of world renowned tech occupiers including Google, Ticketmaster and Videojug. Below is a table of recently completed transactions in the area: Address Tenant Size (ft 2 ) Rent ( /ft 2 ) Date 1 Islington High Street, N1 Smyle Creative Ltd 1, Q Islington High Street, N1 Elite Model Management London 3, Q Pentonville Road, N1 Aditi Technologies Private Limited 2, Q Pentonville Road, N1 The financial services forum Ltd Q Suncourt House, Essex Road, N1 Net Media Planet 4, Q Pancras Square, N1 The Office Group 15, Q Clifton House, Euston Road, N1 Connected Digital Economy Captial 16, Q RESIDENITAL MARKET Residential values within Islington / King s Cross continue to grow, with average house prices within N1 increasing by an 23% between April 2013 and April 2014 according to Rightmove. Prominent developments within the area include Canaletto on City Road and 1,900 new homes within the King s Cross regeneration scheme, where average capital values range between 1,000-1,600 per ft². For further information please refer to the sales and marketing report within the additional information pack.

7 TERMS TENURE The property will be sold freehold and subject to vacant possession on completion. VAT The property is not elected for VAT. TERMS Unconditional offers are invited in excess of 6,800,000 for the freehold interest. Alternatively, offers in excess of 4,800,000 would also be considered, subject to the entire commercial space being built to shell and core and returned to the Seller on a 999 year lease for a premium of 2,000,000, paid by the Seller upon practical completion.

8 CONTACT ADDITIONAL INFORMATION Further information including the approved planning documents and indicative pricing for the proposed residential and commercial space can be provided on request. CONTACT To discuss any aspect of this property or the disposal process, or to arrange an internal inspection, please contact the Seller s joint sole agents: Richard Susskind & Company Hatton Garden London, EC1N Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: