London Land - Knight Frank

London Land Track Record 2020

Justin GazeHead of Residential Land

E: [email protected]

• £1.25 billion of transactions completed during the 2019/2020 financial year

• 48 land deals with sales in every London zone

• 47% year on year increase in total value transacted

2019 / 2020 was another successful financial year for Knight Frank’s Residential Development London Land team despite persistently challenging economic and political conditions.

Following continued Brexit negotiations, the resignation and re-election of prime ministers and heightening geo-political tensions, sentiment appeared to shift positively following the result of the general election towards the end of 2019. After several weeks of encouraging market activity, Coronavirus and the accompanying lockdown restrictions sent shockwaves across the globe and have brought the entire country and economy near to a standstill.

Despite the corollary effects of these events on the market, Knight Frank achieved a 47% year on year increase in the total value of land transactions within the M25. Deals were completed in every London zone demonstrating the depth of our market coverage as well as the strength and extent of our knowledge and expertise.

We expect the key themes of the last 12 months will continue to dominate the market over the coming year, including a focus from developers and housebuilders on outer London boroughs with values within the Help To Buy threshold, demand for large consented sites from Registered Providers and strong competition for opportunities with potential for planning gain. We also expect a return of activity in the more prime central areas of London matching the increased demand we have seen by buyers for completed apartment and houses in these localities.

We hope that our track record provides an overview of the extent of our expertise and ways in which we can work with you on potential site opportunities. Please do not hesitate to contact a member of the relevant Knight Frank teams if you require any assistance.

Introduction

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TRACK RECORD 2020

L A N D

C E N T R A L & N O R T H

C I T Y & E A S T

A C Q U I S I T I O N S

S O U T H & W E S T

R E S I D E N T I A L C A P I TA L M A R K E T S

I N S T I T U T I O N A L P R O P E R T Y

A F F O R D A B L E H O U S I N G

Head of LandJustin Gaze [email protected]

Anthony Kazan [email protected]

Katherine Harris [email protected]

Mark Rogan [email protected]

James Barton [email protected]

Anna Isworth [email protected]

Matthew Breen [email protected]

Orlando Lloyd [email protected]

Nick Alderman [email protected]

Nick Pleydell-Bouverie [email protected]

Guy Stebbings [email protected]

Harrison Collins [email protected]

Lloyd Wraith [email protected]

Peter Wyatt [email protected]

Emma Cleugh [email protected]

Sam Van de Velde [email protected]

Rob Sheldon [email protected]

Paul Hawkey [email protected]

S E N I O R L I V I N G

Tom Scaife [email protected]

Jack Copley [email protected]

Michael Karstel [email protected]

Charles Anslow-Wilson [email protected]

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LONDON LAND TRACK RECORD 2020

Land

Justin Gaze [email protected]

Anthony Kazan [email protected]

James Barton [email protected]

Nick Alderman [email protected]

James Keegan [email protected]

Katherine Harris [email protected]

Mark Rogan [email protected]

Anna Isworth [email protected]

Matthew Breen [email protected]

Orlando Lloyd [email protected]

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55 Broadway, St James’s Park, SW1H

Postcode SW1H 0BH Date September 2019 Price c.£120,000,000 Sale / Acquisition Sale Vendor TfL Purchaser Integrity International Group

Description TfL’s headquarter building extending to c.184,621 sq ft NIA above a ground floor retail mall. Sold with planning permission for 112 residential units with ground floor retail.

The London Studios, Southbank, SE1

Postcode SE1 9LT Date November 2019 Price c.£145,000,00 Sale / Acquisition Sale Vendor ITV Purchaser Mitsubishi Estate

Description ITV’s headquarter building extending to c.261,198 sq ft NIA on a 2.5 acre riverside site. Sold with planning permission for a mixed use scheme including 213 residential units.

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41 Cheval Place, Knightsbridge, SW7

Postcode SW7 1EW Date June 2019 Price £2,350,000 Sale / Acquisition Sale Vendor El Oro and Exploration Company Purchaser Private Individual

Description Terraced mews property comprising office space below a residential flat with a private garage extending to a total of c.2,068 sq ft GIA.

29 Kensington Gardens Square, Bayswater, W2

Postcode W2 4BG Date April 2019 Price £4,000,000 Sale / Acquisition Sale Vendor Private Individual Purchaser Private Individual

Description Terraced period property extending to 6 storeys comprising 12 self-contained flats. Sold without planning permission.

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Former St John’s Church Hall, Friern Barnet Lane, Whetstone, N20

Postcode N20 0ET Date October 2019 Price Confidential Sale / Acquisition Sale Vendor Dominvs Purchaser Freedom Property Investments

Description Unconditional sale of a church hall with positive pre-app feedback for 20 residential units.

Homebase, North Finchley, N12

Postcode N12 0DA Date December 2019 Price c.£25,000,000 Sale / Acquisition Sale Vendor Aviva Purchaser Redrow

Description 2.6 acre brownfield site sold with the benefit of positive pre-app feedback for 221 residential units with ground floor retail.

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Sovereign Gate, Richmond, TW9

Postcode TW9 2NA Date April 2019 Price £9,750,000 Sale / Acquisition Sale Vendor Met Police Purchaser Planehouse

Description 0.21 acre site comprising a 1980’s five storey office building extending to c.22,331 sq ft NIA.

2 Pitt Street, Kensington, W8

Postcode W8 4NX Date May 2019 Price £7,560,000 Sale / Acquisition Sale Vendor Private Individual Purchaser Private Individual

Description Low rise semi-detached house with a wide south facing garden with potential for significant extension.

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Chiswick High Road, Chiswick, W4

Postcode W4 5TF Date October 2019 Price c.£30,000,000 Sale / Acquisition Sale Vendor Lendlease Purchaser GME

Description 1 acre site with detailed planning permission for 137 residential units plus up to 7 retail units with car parking comprising a total of 151,503 sq ft GIA.

Southall Community College, Southall, UB1

Postcode UB1 1DP Date February 2020 Price £4,200,000 Sale / Acquisition Sale Vendor West London College Purchaser ASG

Description Part disposal of a 1 acre site sold on an uncondtional basis with development potential for a variety of uses.

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Stuart Forbes architecture masterplanning and design

associates 144 - 156 Uxbridge Road - Looking East (Alternative Massing) - Phase 2 Concept

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Ermyn House, Ermyn Way, Leatherhead, KT22

Postcode KT22 8UX Date January 2020 Price £40,000,000 Sale / Acquisition Acquisition Vendor ExxonMobil Purchaser Confidential

Description HQ office building let to Esso and Premium Credit Limited across 21.4 acres with underlying residential development potential.

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5-17 Haverstock Hill, Chalk Farm, NW3

Postcode NW3 2BP Date August 2019 Price £17,000,000 Sale / Acquisition Sale Vendor Marcol Purchaser OD Group

Description 0.51 acre site comprising a multi-storey car park with full planning permission for 77 residential units above ground floor retail.

144 – 156 Uxbridge Road, Hanwell, W7

Postcode W7 3TB Date August 2019 Price £6,450,000 Sale / Acquisition Acquisition Vendor Elemento Group Purchaser Mizen

Description Acquisition of a 0.38 acre site with planning granted for a 43 unit mixed use scheme in Hanwell.

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Residential Capital Markets

Nick Pleydell-Bouverie [email protected]

Guy Stebbings [email protected]

Harrison Collins [email protected]

Lloyd Wraith [email protected]

Peter Wyatt [email protected]

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Lion House, Mayfair, W1J

Postcode W1J 5JR Date May 2019 Price £7,000,000 Sale / Acquisition Sale Vendor NKN Purchaser Private Investor

Description A residential building comprising 6 self-contained residential apartments and a garage/storage room arranged over 4 floors extending to c.3,500 sq ft NSA.

Wellesley Court, Twickenham, TW2

Postcode TW2 5TF Date June 2019 Price c.£9,300,000 Sale / Acquisition Confidential Vendor Confidential

Description Forward purchase of 190 senior living units within a wider residential led masterplan.

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One Brompton, South Kensington, SW5

Postcode SW5 0LJ Date May 2019 Price c.£20,000,000 Sale / Acquisition Acquisition Vendor Thackery Estates Holding Ltd Purchaser Confidential

Description 18 newly developed residential apartments with bespoke design by Argent Design extending to c.9,504 sq ft GIA.

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Salway Place, Stratford, E15

Postcode E15 1NB Date June 2019 Price c.£10,750,000 Sale / Acquisition Sale Vendor Confidential Purchaser Confidential

Description Freehold sale of a block of 38 self-contained residential apartments extending to c.18,670 sq ft NSA.

Project 24 (Westbourne House and The Priory), TW1

Postcode TW1 4AS Date September 2019 Price c.£16,000,000 Sale / Acquisition Sale Vendor Confidential Purchaser Confidential

Description Freehold sale of a block of 24 residential apartments extending to c.16,136 sq ft NSA.

Clarendon House, Kew, TW9

Postcode TW9 3HD Date November 2019 Price £5,600,000 Sale / Acquisition Sale Vendor Confidential Purchaser Confidential

Description Freehold interest in two residential buildings comprising of 16 apartments totalling c.12,000 sq ft GIA.

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Bell Yard, Holborn, WC2A

Postcode WC2A 2JR Date October 2019 Price c.£15,000,000 Sale / Acquisition Confidential Vendor Confidential

Description A newly developed property comprising of 12 flats extending to c.10,590 sq ft GIA.

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Atlas Ground Rents, EC1V

Postcode EC1V 1AW Date December 2019 Price £5,000,000 Sale / Acquisition Sale Vendor Confidential Purchaser Confidential

Description Ground rent disposal of 309 residential units.

19-21 Grosvenor Gardens, Belgravia, SW1W

Postcode SW1W 0BD Date December 2019 Price £6,600,000 Sale / Acquisition Sale Vendor Confidential Purchaser Confidential

Description A Grade II listed building in Belgravia comprising of 7 self-contained apartments extending to c.4,473 sq ft NSA.

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32 Lansdowne Crescent, W11

Postcode W11 2NT Date December 2019 Price £7,000,000 Sale / Acquisition Sale Vendor Confidential Purchaser Confidential

Description A Grade II listed building arranged as 5 separate apartments extending to c.3,937 sq ft GIA.

4 Cheniston Gardens and 10 Wrights Lane, Kensington, W8

Postcode W8 6TQ Date March 2020 Price £5,500,000 Sale / Acquisition Sale Vendor Confidential Purchaser Confidential

Description A mixed use investment comprising of 8 apartments and a retail unit extending to c.5,894 sq ft GIA.

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Brymore Portfolio

Postcode N/A Date November 2019 Price c.£37,000,000 Sale / Acquisition Acquisition Vendor Confidential Purchaser Confidential

Description An acquisition of 35 assets comprising 183 residential units extending to a total bof c.175,000 sq ft GIA.

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Affordable Housing

Rob Sheldon [email protected]

Paul Hawkey [email protected]

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32-42 Buckingham Palace Road, SW1W

Postcode SW1W 0RE Date December 2019 Price Confidential Sale / Acquisition Sale Vendor The Grosvenor Estate Purchaser Octavia

Description Forward commitment S106 disposal of 23 intermediate rent flats.

Cross Lane, Hornsey, N8

Postcode N8 7SA Date January 2020 Price £5,800,000 Sale / Acquisition Sale Vendor Dominus Advisory Purchaser Paragon Asra

Description Forward commitment S106 disposal of 21 affordable housing apartments of mixed tenure.

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Building 1A, Ashley Gardens, N17

Postcode N17 9LJ Date March 2019 Price £29,400,000 Sale / Acquisition Sale Vendor Berkeley Square Developments Purchaser London Borough of Haringey

Description Forward fund S106 disposal of 104 affordable rent units.

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83 Barchester Street, E14

Postcode E14 6BE Date March 2020 Price £16,000,000 Sale / Acquisition Sale Vendor Canary Wharf Group Purchaser London Borough of Tower Hamlets

Description Forward commitment S106 of 115 social rent units.

Earlsfield Riverside, SW18

Postcode SW18 4RL Date March 2020 Price £6,125,000 Sale / Acquisition Sale Vendor Earlsriver Limited Purchaser Paragon Asra

Description Forward commitment S106 of 22 mixed tenure affordable housing units.

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Building 3 Southbank Place, Shell Centre, SE1

Postcode SE1 7NW Date April 2019 Price £16,694,000 Sale / Acquisition Sale Vendor Braeburn Estates Purchaser Notting Hill Genesis

Description Forward commitment S106 of 98 intermediate rent affordable housing units.

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Senior Living

Tom Scaife [email protected]

Jack Copley [email protected]

Michael Karstel [email protected]

Charles Anslow-Wilson [email protected]

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Royal Warwick Square, Warwick Road, Kensington, W14

Postcode W14 8FN Date May 2019 Price £300,000,000 Sale / Acquisition Acquisition Vendor St Edward (JV between M&G Real Estate and The Berkeley Group) Purchaser Riverstone Living (Goldman Sachs)

Description Forward purchase of 190 senior living units within a wider residential led masterplan.

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Homebase, New Zealand Ave, Walton-on-Thames, KT12

Postcode KT12 1XA Date July 2019 Price Confidential Sale / Acquisition Acquisition Vendor British Land Purchaser Guild Living (Legal & General)

Description A retail site extending to 2.51 acres. Acquired unconditionally, off market, with potential for a 200+ unit senior living scheme.

Harefield Road Retail Park, Uxbridge, UB8

Postcode UB8 1JS Date March 2020 Price Confidential Sale / Acquisition Sale Vendor Canada Life Purchaser Guild Living

Description Retail park let to Wickes & Halfords across 2.32 acres with residential development potential.

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Research Capability Global Services

Full list of services

The Residential Investment Research team at Knight Frank is at the forefront of global research in the alternatives market. We are key market commentators and provide the highest quality, forward thinking, editorial outputs. Working closely with our Capital Markets and Valuation teams, our consultancy work spans across the full suite of residential investment asset classes. We have provided impartial, bespoke research to all major financial institutions, developers and public sector bodies active in the sector.

Each element of our research is purpose-led and provides our clients and the wider market with new insights from both an investor and occupier perspective. Furthermore, we invest in the market ourselves by conducting the highest quality primary research through our annual surveys.

Our Student Accommodation Survey in partnership with UCAS is the largest survey of its kind in the UK. This, along with our Tenant Survey, ensures that we not only provide expert interpretation of market dynamics, but also the best intelligence from your customers.

Our Residential Investment Research team provides a full range of services, including:

• Demand & needs assessment• Pricing analysis• Catchment analysis and market mapping• Ad hoc due diligence• Scheme tracking• Pipeline analysis• Customer engagement & profiling• Research partnerships & advice

There’s a human element in the world of property that is too easily overlooked.

At Knight Frank we build long-term relationships, which allow us to provide personalised, clear and considered advice on all areas of property in all key markets. We believe personal interaction is a crucial part of ensuring every client is matched to the property that suits their needs best – be it commercial or residential.

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Important notice.Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent or any other person has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). Plans, Maps and Computer Generated Images (CGIs): CGIs used in this document are for indicative and illustrative purposes only. Areas, measurements and distances given are approximate only. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. None of the services or appliances have been tested and no warranty is given or is to be implied that they are in working order. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. VAT: The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names.November 2019

London Land - Knight Frank

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