5-6 WATERWORKS ROADB R I X T O N S W 2 1 S E

Mixed-Use DevelopmentOpportunity For Sale

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EXECUTIVE SUMMARY

• Freehold development opportunity with planning permission in place for a new mixed-use scheme

• Site measures 0.113 hectares (0.3 acres)

• Property is well located in the thriving Brixton area, and is just 0.8 miles from Brixton station that provides Victoria line underground services

• Planning permission granted for the demolition of the existing buildings and erection of a 5-storey building with basement to provide 2,043sqm (21,860sqft) GIA of B1 office accommodation at basement, ground and first floor levels plus 20 residential units (Use Class C3) within the upper floors

• The residential element of the scheme will comprise 20 private apartments (8 x 1 beds / 8 x 2 beds / 4 x 3 beds). The total residential NSA will be 1,356sqm (14,682sqft) with accommodation to be sold entirely for private sale

• Vacant possession to be offered on practical completion • Offers are invited in excess of £6,000,000 for the freehold interest with the benefit of full planning permission, the vendor will also consider offers on the basis that the commercial space is handed back in shell and core condition

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CGI OF PROPOSED DEVELOPMENT

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EXISTING SITE/AERIAL

The site is located on Waterworks Road, within the London Borough of Lambeth. Waterworks Road is an off-shoot road from Brixton Hill (A23) which leads directly to Brixton underground station. The existing site currently comprises two light industrial units of one and two storeys totalling 1,085.7 sqm (11,686 sqft). These units benefit from B1/B8 (light industrial/warehouse space). Access to no. 5 Waterworks Road is directly from Waterworks Road. Access to no. 6 is also via Waterworks Road, however is via a right of way across the adjacent ATS site. The site measures 0.113 hectares (0.3 acres).

0 2INTERNAL VIEW OF NO. 6 WATERWORKS ROAD

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LOCATION The site is located along Waterworks Road which is a private road that adjoins Brixton Hill (A23). Brixton Hill is an arterial road connecting Brixton and Streatham Hill. Brixton is a popular commuter location approximately 7.6 km (4.7 miles) southwest of the City of London and 7.9 km (4.9 miles) south of the West End. The local area consists of a mix of uses including both residential and commercial. Both Brixton Suburban Rail Station & Victoria Lines are within 15-minute walk north along Brixton Hill.

Brixton has become one of London’s most eclectic and happening areas. This buzz has stemmed from its artistic heritage and world-renowned night life, this coupled with the ongoing regeneration making it a highly desirable place to live and work. The pure variety of offerings include the hipster Brixton Village providing a variety of places to eat and drink. Brixton Academy (O2) and Brixton Electric offer locals the opportunity to see iconic gigs within walking distance of the subject site.

5-6 WATERWORKS ROAD

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RAILTON ROAD

ELECTRIC BRIXTON

BRIXTON MARKET

BRIXTON O2ACADEMY

POPBRIXTON

BRIXTONBREWERY

BRIXTONVILLAGE

SAINSBURYSLOCAL

STIR COFFEE

THE CLINKRESTAURANT

THE BLUESKITCHENBRIXTON

DULWICH ROAD

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SECTION 106 & CIL A S106 agreement has now been agreed and consists of the following obligations:

• S106 costs are estimated to £127,891

• CIL payment (estimate including Mayoral and Lambeth) totals £156,497

• Please click the link below, providing access to our dataroom that supplies full details of the S106;

www.waterworksroadbrixton.co.uk

PLANNING & CONSENTED SCHEME The site is not listed, but does fall within the Rush Common & Brixton Conservation Area. The site obtained full planning permission at appeal from Lambeth council in October 2019 under reference 18/00456/FUL for; “…the demolition of the existing buildings and erection of a 5-storey building with basement to provide 2,043sqm of B1 office accommodation at basement, ground and first floor levels plus 20 residential units (Use Class C3) at upper floors, together with provision of refuse and cycle stores, plus amenity space at ground and 4th floor levels.” The consented scheme has been designed by the well-established Peter Davy Smith architects. The scheme provides a mix of 20 private residential units (8 x one beds, 8 x two beds and 4 x three beds) comprising 1,356 sqm (14,682 sqft) NSA as well as new self-contained B1 office space comprising 1,798 sqm (19,353 sqft) NIA delivered over basement, ground and first floor levels.

CGI VIEW LOOKING WEST FROM JEBB AVENUE CGI OF PROPOSED COMMERCIAL & RESIDENTIAL ENTRANCES FROM WATERWORKS ROAD

COMMERCIAL

RESIDENTIAL

PROPOSED BUILDING ELEVATION

- - - - 1,798 19,353TOTALCOMMERCIAL

8 3 5 4 1,364 14,682TOTALRESIDENTIAL

BASEMENT - - - - 578 6,222

GROUND - - - - 510 5,490

1ST - - - - 710 7,642

2ND 3 3 0 2 552 5,941

3RD 3 0 3 2 552 5,941

4TH 2 0 2 0 260 2,798

UNIT TYPE NIA

FLOOR 1B/2P 2B/3P 2B/4P 3B/5P SQ M SQ FT

ACCOMMODATION SCHEDULE

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PROPOSED FIRST FLOOR PLAN

7,642 SQFT - 710 SQM

PROPOSED SECOND FLOOR PLAN

5,941 SQFT - 552 SQM

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COMMERCIAL FLOOR PLANS RESIDENTIAL FLOOR PLANS

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50 sqm

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73 sqm

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92 sqm

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75 sqm

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50 sqm

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74 sqm

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87 sqm

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50 sqm

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1B/2P

73 sqm

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2B/4P

92 sqm

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75 sqm

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50 sqm

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77 sqm

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2B/4P

53 sqm

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53 sqm

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1B/2P

PROPOSED THIRD FLOOR PLAN

5,941 SQFT - 552 SQM

PROPOSED FOURTH FLOOR PLAN

2,798 SQFT - 260 SQM

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RESIDENTIAL FLOOR PLANS

FLOOR PLANS SHOWN FOR ILLUSTRATIVE PURPOSES. A FULL SET OF PLANS ARE AVAILABLE UPON REQUEST.

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5-6 WATERWORKS ROAD

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BRIXTON

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BR

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RAILTON ROAD

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MARKET COMMENTARY The site is located on the southern segment of the Brixton market. Brixton has become increasingly desirable from both a commercial and residential perspective due to its excellent transport links to Central London (2.7 miles away). London Underground (Victoria Line) and Brixton Rail Station provide regular services for residents and visitors frequenting the area.

Investment in the Brixton market has soared in recent years, with Lambeth council spending c.£350million to gentrify the area. This spend on innovative commercial projects like Pop Brixton and Brixton Village has further enriched an already world-renowned cultural heritage.

Residential prices have grown exponentially since 2009, with a 90% increase in house price averages from that date to 2019. With a desirable mix of period housing and trendy new developments, prices reached new highs in 2016 in excess of £850psf. Further information on the area and the council’s plans for improvement can be found at the link below;

https://love.lambeth.gov.uk/neighbourhoods/brixton/

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COMMERCIAL LED SCHEMES Pop Brixton, Brixton Station Road SW9 In 2015 ‘Pop Brixton’ opened its gate. The site comprises a 15,339sqft mini village of shipping containers overflowing with over 18 street food stalls, restaurants, bars and shops. The Department Store, Ferndale Road SW9 Squire & Partners transformed Brixton’s old department store into a contemporary new office space extending over 47,000sqft. The accommodation also includes a rooftop guest restaurant and a record store. Brixton Village, Coldharbour Lane SW9 Formerly a rundown arcade, Brixton Village market is now home to more than 20 new cafes, restaurants and takeaways and has become Brixton’s culinary and cultural hub.

International House, Canterbury Crescent SW9 In Autumn 2018 3Space opened London’s largest affordable workspace in Brixton. The 12-storey building extends over 65,000sqft and provides a range of workspaces for entrepreneurs.

RESIDENTIAL LED SCHEMES Brook House, Brixton Hill SW2 Muse Developments scheme delivering 46 apartments. Units currently being marketed by JLL with prices in region of £833psf. Ivor House, Acre Lane SW2 Another development by Muse offering art deco inspired apartments under permitted development (74-units). Units were offered for sale in Q1 2019 with prices starting at £732psf. BRX Brixton, Stockwell Road SW9 A stylish development by Network Homes comprising 96-units. Private apartments within the scheme are for sale with Dexters at £813psf. Igloo Regeneration, Somerleyton Road SW9 Consented scheme proposing 300 new homes with quality commercial and leisure space.

Myka Place, Dalberg Road SW2 A contemporary scheme offering 6 high-quality apartments. Flats have sold at £848psf within the development.

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TENUREThe property is held freehold under two separate title numbers which are SGL366893 & SGL443343

PROPOSALOffers are invited in excess of £6,000,000 for the freehold interest with the benefit of full planning permission. The vendor will also consider offers on the basis that the commercial space is handed back in shell and core condition. We understand that the property has not been elected for VAT

FURTHER INFORMATION / VIEWINGSPlease contact Chris Henshall at Henshall & Partners or Anthony Dixon or Andrew Boyd at Allsopwho are appointed as joint selling agents for further information. Additionally, if you would like to arrange an internal inspection of the site.

Please click here for a link to the data room:www.waterworksroadbrixton.co.uk

� chris@henshallandpartners.co.uk� +44 (0) 777 277 5130

� info@henshallandpartners.co.uk� +44 (0) 207 299 4230

OS PLAN

Important NoticeParticulars: 1. These particulars are not an offer or contract, nor part of one. You should not rely on statements by Henshall & Partners or Allsop 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 Henshall & Partners Ltd nor any joint agent 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). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. 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. 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. 4. VAT: The VAT position relating to the property may change without notice.

Henshall and Partners Ltd (Reg No:10712199). Registered Address: Onega, 112 Main Road, Sidcup DA14 6NE.

Allsop Ltd Reg No. 02158801Registered Address: 33 Wigmore Street, London W1U 1BZ

� @henshallandpartners

� @HenshallandP

� @henshall-partners

� @allsopLLP

� @allsopLLP

� @allsop-LLP

� anthony.dixon@allsop.co.uk� +44 (0) 207 344 2625

� andrew.boyd@allsop.co.uk� +44 (0) 207 344 2609