DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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DEBEN HOUSE

CANARY WHARF PERMITTED DEVELOPMENT OPPORTUNITY

1 Selsdon WayLondon E14 9GL

DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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DEBEN HOUSE

DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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OPPORTUNITY SUMMARY

Long leasehold interest and share of freehold title

Existing office building totalling 15,740 sq ft GIA and 12,602 sq ft NIA together with 16 car parking spaces

140m from DLR Crossharbour station with a journey time to Bond Street of 21 minutes via Crossrail

Prior approval for change of use to C3 residential granted April 2017

Opportunity to deliver 35 residential units via:

- Permitted Development Rights for 31 apartments

- Consent for 3 additional units via extension of existing building

- Plus, one further unit within amended permitted development scheme

Significant future potential for wider comprehensive redevelopment via land assembly with adjoining ownerships

Existing building income producing with a current passing rent of £232,695 per annum

Vacant possession of all floors from June 2018

Unconditional Offers invited in excess of £6.00m

Opportunity to acquire a consented residential conversion scheme in Canary Wharf with significant future potential for a wider comprehensive redevelopment

DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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ISLAND GARDENS

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NORTHGREENWICH

Location The site is located 0.7 miles (1.1km) from Canary Wharf. With a current working population of over 112,000, 37 office buildings, hotels and over 300 shops, cafés, bars and restaurants in five malls the area is a world-class centre for commerce, retail and leisure.

The property is part of the Crossharbour estate, a low rise brick clad office development in Millwall Dock. Immediately to the east of the site is the low density City Harbour residential development of similar height and construction. The scheme provides an intimate community feel, a moments walk from City Harbour’s waters and Dockland views, local shopping facilities, private City Harbour Club facilities and private off street parking. Green space at Mudchute Park and Farm is a short distance south east of the property.

Nearby developments include Dockside by Bellway situated just 100m north west of the site at Turnberry Quay providing 89 residential apartments over 13 storeys. Immediately 300m north of the site is the landmark Arena Tower within Baltimore Wharf, a large scheme by Galliard Homes providing a total of 1,100 dwellings.

Adjacent to the site, 3, 5 and 7 Selsdon Way was granted prior approval for change of use from B1 Office to provide 56 residential units. The major redevelopment of the ASDA site within 150m of Selsdon Way will dramatically enhance the local setting and improve the social amenities of the direct area as well as creating c. 850 residential dwellings.

DEBEN HOUSE

DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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Transport Infrastructure Crossharbour DLR station is located 140m away. The DLR rail network connects Canary Wharf and Central London via the City (Bank) and extends to the regeneration growth hubs of Lewisham, Stratford with the Queen Elizabeth Olympic Park and the entirety of the Docklands, including London City Airport which has direct flights to New York, Paris and Amsterdam.

Canary Wharf is forecast to benefit strongly from its new Crossrail station opening 2018.

Crossharbour is serviced by the D3, D6 and D8 bus routes, connecting with Whitechapel, Mile End and Stratford respectively.

The major A13 arterial road is accessible within c. 1.5 miles which extends eastwards into the City, and eastwards to the A406 ring road then further to the M25 motorway and the UK wide motorway networks.

CROSSHARBOUR

TRAVEL TIMES FROM CROSSHARBOUR DLR STATION

WATERLOO

21 mins

Travel times according to TFL

OXFORD CIRCUS

27 mins

LONDON BRIDGE

18 mins

LIVERPOOL STREET

14 mins

BANK

15 mins

CANARY WHARF

8 mins

GREENWICH

6 mins

STRATFORD

16 mins

LONDON CITY AIRPORT

23 mins

Canary Wharf is a top ten beneficiary from the increased access to Heathrow and the West End, enhancing Selsdon way’s desirability as a residential location

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OVERALL CROSSRAIL IMPACT SCORE

HEATHROW CENTRAL

39 mins

DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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Existing BuildingDeben House is a modern office building (B1 use class) situated to the east side of Selsdon Way.

The site currently comprises a four storey building constructed in 1992. The property is of masonry construction with a glazed portion to the upper floors, providing 12,602 sq. ft. NIA of office accommodation.

The property is let on 4 commercial leases (all contracted outside the 1954 L&T Act). Vacant Possession can be achieved on the whole site in June 2018.

Access to the property is provided along Selsdon Way via East Ferry Road. The property has a car parking allocation of 16 spaces within the adjacent NCP multi-storey car park.

Multistorey Car Park

DebenHouse1

SELSDON WAY

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Posts MerchantHouse4

Northern & Shell Tower

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DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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ResidentialDevelopment Context

DEBEN HOUSE

3, 5 and 7 Selsdon Way - Planning approval for change of use from B1 Offices to C3 Residential with 56 residential units

Boatmans House - Planning approval for change of use from B1 Offices to C3 Residential with 63 residential units

Dockside - Bellway scheme with 89 residential units, Launched April 2016.

ASDA Crossharbour - Consented full planning for a new supermarket and 83 residential units. Outline planning permission for 850 residential units (592 private) over 23 storeys

Baltimore Wharf - 1,100 residential units, 816 private, sold out in Q2 2014

Arena Tower - Landmark development at Baltimore Wharf by Galliard Homes providing 344 residential units. Sold-out in Q2 2014 with limited resales available.

The Liberty Building - Development at 7 Limeharbour comprising 105 private units

The Madison - 423 residential units, 319 private, launched Q3 2015

Millharbour Village - Multiple towers up to 45 storeys. Consented planning for 1500 residential units (1,175 private). 45 Millharbour comprising 94 units due to complete Q4 2017

Westferry Printworks - Consented planning for 646 private residential units over 29 storeys

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DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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Planning & Development OpportunityPERMITTED DEVELOPMENT RIGHTS

Prior approval was permitted for the change of use from B1 offices to C3 residential accommodation in April 2017 under application PA/17/00310 for 31 units.

A separate application was approved under application number PA/17/02037/A1 for the extension of the property at third and fourth floors to create 3 residential units, an ancillary plant enclosure and alterations to the external façade.

A subsequent letter has been submitted to LB Tower Hamlets to combine the two applications and regularise an additional amendment to provide a total of 35 units. The amendment has been agreed in principle.

ACCOMMODATION SCHEDULE

Floor No. of Units

Studio 1 Bed 2 Bed Total NSA Sq Ft

Ground 7 7 - - 2,770

1st 9 8 1 - 2,835

2nd 9 8 1 - 2,795

3rd 7 4 3 - 2,410

4th 3 2 - 1 1,439

TOTAL 35 29 5 1 12,249

DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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Deben House presents an ideal opportunity to deliver a wholly residential conversion scheme with scope for a wider comprehensive redevelopment via land assembly

Further Development PotentialThe property immediately abuts a multi-storey NCP car park with a total of 500 car parking spaces. The car park is under utilised and offers a significant opportunity for further development via site assembly.

The properties on Selsdon Way offer a unique development opportunity. A comprehensive land assembly of 1, 3, 5 & 7 Selsdon Way and the NCP Car Park opens the possibility for a large scale residential-led redevelopment.

INDICATIVE GROUND FLOOR PLAN INDICATIVE UPPER FLOOR PLAN

DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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TitleDeben House is held on a Long-leasehold interest of 199 years from The Brunel Centre Limited with the option to extend to 999 years for a nominal fee.

Title includes 8.5% share of freehold title.

Vacant possession from June 2018

FreeholdCity Harbour Management Company Limited

Headlease199 years from 30 May 1986 - extendable up

to 999 years from the company at no cost save for the legal fees incurred

Underlease199 years from 30 May 1986 (less 10 days)

Occupational LeasesFull Vacant Possession available from June 2018

Ground Floor

Let to Inviron Limited. Term of 10 years expiring 16th March

2018. Outside 1954 act.

First Floor

Let to Inviron Limited. Term of 10 years expiring 16th March

2018. Outside 1954 act.

Second Floor

Let to Adgistics Limited. Term of 5 years expiring 17th June 2020. LL Break Option 17th

June 2018. Outside 1954 act.

Third Floor

Let to Financial Information Technology. Term of 1 year

expiring 24th December 2017. Outside 1954 act.

Vendors Interest

Owns 8.5% shares in City Harbour Management

Company Limited

DEBEN HOUSE

1 Selsdon Way, London E14 9GL

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Further Information VACANT POSSESSION

Vacant possession of each floor is available at the following dates:

Ground - March 2018

1st Floor - March 2018

2nd Floor - June 2018

3rd Floor - December 2017

VAT

The property is elected for VAT

DATA ROOM

Additional technical, legal, and planning information is available on the dataroom at www.deben-house.live.jll.com

OFFERS

Unconditional offers are invited on an informal tender basis for the vendors combined interests. Registered parties will be notified of the bid deadline in due course.

VIEWINGS

All inspections of the properties are strictly to be prior appointment only. Please contact JLL and Savills to arrange an appointment.:

Sonny Dawes Ed De JongeJLL Residential Savills+44(0)207 087 5679 +44(0)207 016 3849sonny.dawes@eu.jll.com edejonge@savills.com

Dan Smith Alex SoskinJLL Residential Savills+44(0)207 852 4285 +44(0)207 409 9993dan.smith@eu.jll.com alex.soskin@savills.com

DisclaimerJLL and Savills and for themselves and for the vendors or lessors of this property whose agents they are, give notice that:-a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;c. no person in the employment of JLL and Savills has any authority to make or give any representation or warranty whatever in relation to the property;d. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken.© 2017 Jones Lang LaSalle IP, Inc and Savills plc

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