PAVILION E / 118 SOUTHWARK STREET / LONDON SE1VIRTUAL FREEHOLD VACANT OFFICE AND RETAIL

EXECUTIVE SUMMARY

- Prime SE1 - Prominent new building by Rogers Stirk Harbour + Partners - Office and retail property, 7,324 sq ft - Originally designed as residential accommodation - Virtual freehold - Vacant possesssion - Offers in excess of £5m, £682 per sq ft.

ST. PAUL’S CATHEDRAL

ONE NEW CHANGE

THE GHERKIN MILLENNIUM BRIDGE CANARY WHARF TOWER BRIDGE THE SHARD

NEO BANKSIDELONDON BRIDGE TATE MODERNBLACKFRIARS STATION PLATFORM

LocationBankside in SE1 is the strongest office location in the Southbank. It is also home to Tate Modern Art Museum, the Southbank Arts Centre, Borough Market, The Shard by Renzo Piano, and the outstanding NEO Bankside residential development.

Architects Rogers Stirk Harbour, KPF, Allies and Morrison, Herzog and De Meuron, AHMM, Lifschutz Davidson, Wilkinson Eyre, Ian Simpson, TP Bennett and Dexter Moren all have major schemes under construction or consented.

Transport connections are excellent and the property is within easy walking distance of Blackfriars Station (Network South-East, Thameslink, Circle and District Lines), Southwark Underground Station (Jubilee Line), Waterloo Station (South West Trains, Waterloo and City, Bakerloo, Northern and Jubilee Lines) and London Bridge Station (Network South-East, Thames Link, Northern and Jubilee Lines).

The Thameslink line is being comprehensively improved and expanded and runs north to south across London and links Brighton to Bedfordshire, Gatwick and Luton Airport.

The entrance to Blackfriars Station on the south side of Blackfriars Bridge opened in December 2011, the first ever station with platforms spanning the River Thames. In the longer term, both London Bridge and Waterloo Stations are to be redeveloped.

The City is just 10 minutes walk via Millennium Bridge and St. Paul’s Cathedral

OXO TOWER

OFFICES

1. Sea Containers House (Architects: TP Bennett) Refurbishment incorporating a new 8 storey office building, a 356 bed Mondrian Hotel and new restaurants and cafes on the river walkway.

2. Kings Reach Tower (KPF)Refurbishment and extension to provide 370,000 sq ft of offices, 173 flats and 72,000 sq ft of retail.

3. 65 Southwark Street (ESA)Rockspring and Moorevale have recently completed the 55,000 sq ft Harlequin Building.

4. The Crane Building - 20 Lavington Street (Allies and Morrison)Dorrington are building a 48,000 sq ft office scheme.

5. 61 Southwark Street (Allies and Morrison)Refurbishment and extension of this 65,000 sq ft office.

6. 240 Blackfriars Road (AHMM)Great Ropemaker Partnership are building a 200,000 sq ft office. 100,000 sq ft pre-let to United Business Media.

7. The Shard (Renzo Piano) The tallest building in London, and The Place, office schemes at London Bridge.

8. Land Securities’ Bankside 1,2 and 3 (Allies and Morrison) Home to IPC Media and Royal Bank of Scotland.

HOTELS

9. CitizenM (Sheppard Robson)Has opened its first central London hotel on Lavington Street. Designed by Sheppard Robson and Concrete Architects this 200 bedroom boutique hotel opened in July 2012.

10. Premier Inn (Allies and Morrison)At 15 Great Suffolk Street, Jansons completed a 125 room Premier Inn in June 2012.

11. Hilton Bankside (Dexter Moren)At 14 Bear Lane, Splendid Hotel Group have started construction of a 5 star Hilton, to include a 700 person conference facility.

12. Ibis Hotel Accor have recently opened a 182 bedroom Novotel and 297 room Ibis Hotel at 46-47 Blackfriars Road.

RIVER THAMES

FestivalPier

SavoyPier

WestminsterPier

London Eye Pier

BlackfriarsPier

BanksidePier

London BridgeCity Pier

TowerMillenniumPier

Swan LanePier

LONDON EYE

SOUTHBANK CENTRE

HOUSES OF PARLIAMENT

NATIONAL THEATRE

OXO TOWER

BOROUGH MARKET

SAVOY HOTEL

ST. PAUL’S CATHEDRAL ONE NEW CHANGE

OLD BAILEY

THE SHARD(SHANGRI-LA HOTEL)

BANK OF ENGLAND

TATE MODERN SHAKESPEARE’S

GLOBE THEATRE

BANKSIDE1,2,3

City Thameslink

Temple

Embankment

Westminster

Holborn

Covent Garden

Farringdon

Chancery Lane

Blackfriars

Barbican

St. Paul’s

MonumentCannonStreet

LiverpoolStreet

Bank

Mansion House

Southwark

Blackfriars

LondonBridge

Borough

Waterloo

CharingCross

Moorgate

Yo

rk R

oad

B

lackfr

iars

Ro

ad

Stam

ford

Street

Southwark Street

Borough Road

Waterloo R

oad

The Cut

Union Street

S

outh

wark

Bridge R

oad

Gre

at Dove

r Street

B

oro

ugh H

igh S

tree

t

Long Lane

Strand

Fleet Street

Ludgate Hill

Cannon Street

Newgate Street

Chancery L

ane

New

Fett

er

Lan

e

Kin

gsw

ay

Shoe L

ane

Gra

cech

urc

h Str

eet

Victoria Embankment

Cheapside

Gresham Street

Mo

org

ate

Upper Thames Street

Queen Victoria Street

A

ldwych

Farrin

gd

on S

treet

Holborn

Sout

hwar

k B

ridge

Bla

ckfr

iars

Bri

dg

e

Westminster Bridge

Theobald’s Road

Mill

enniu

m B

rid

ge

Lo

nd

on B

rid

ge

Threadneedle Street

Royal Exchange

London Wall London Wall

Waterloo B

ridge

Hungerford Bridge

Poultry V

icto

ria E

mb

ankm

ent

Whit

ehall

Tooley Street

Lavington Street

Gre

at

Suff

olk

Str

eet

Westminster Bridge Road

Sum

ner Street

1

8

2

34 57

6

11

1012

9

14

1516

13

4

18

17

19

22

21

2023

RESIDENTIAL

13. One BlackfriarsBerkeley Homes has recently started construction of a 51 storey residential tower, a 260 room hotel, plus offices and residential.

14. Ludgate House, Blackfriars Road (LPL)245 Blackfriars Road and Sampson House, 64 Hopton Street are being redeveloped by Carlyle into 1.5m sq ft mixed use scheme incorporating 1,000 flats, 300,000 sq ft of office space and 200,000 sq ft of retail.

15. Elizabeth House (David Chipperfield)Redevelopment by Chelsfield and London & Regional Properties into 1.4m sq ft of residential, office and retail.

16. The Shell Centre Redevelopment into 2.15m sq ft of residential, office, retail and leisure by Canary Wharf Group and Qatari Diar.

STUDENT HOUSING

17. Great Suffolk StreetUnite plc has completed ‘Moonraker’, providing 674 bedrooms.

18. Paris Gardens (Allies & Morrison)McLaren are under construction on a 80,000 sq ft student housing scheme incorporating a ballet school.

19. Ewer Street (TP Bennett)Generation Estates and Carlyle have been granted planning consent for a 150 unit scheme.

CULTURAL

20. Tate ModernContemporary art gallery, receives the most visitors of any museum in the UK, many using the Millennium Bridge across the River Thames from St Paul’s Cathedral.

The Tate extension, designed by Herzog & de Meuron, scheduled to open in 2016.

21. The London Eye The most popular paid tourist attraction in the United Kingdom, visited by over 3.5 million people annually.

22. The London DungeonsRecently relocated from Tooley Street.

23. Shakespeare’s Globe TheatreSince the Globe theatre reconstruction opened for performances in 1997, Shakespeare’s Globe has welcomed visitors from all over the world.

SITE PLAN

2ND FLOOR OFFICES

GROUND FLOOR

RECEPTION AREA

GROUND FLOOR RETAIL LEVELS 1-4

DESCRIPTION

Completed in April 2013, this new building follows the design of the NEO Bankside residential pavilions. Originally designed for residential use, which was subsequently amended to B1 offices, the upper floors are fitted out to a Cat A office specification featuring:

• Clear glazed cladding to the offices with internal vertical oak louvres

• Fair-faced concrete walls• Part concrete, part active chilled beam ceilings• 75mm raised floor• 800 kg 10 person passenger lift• WCs on ground to fourth floors,

two with a shower.

Detailed office specification and scale drawings available on request.

The ground floor has consent for retail A1, restaurant A3 and B1 office uses, and will be sold in shell consition, ie. not fitted out.

ACCOMMODATION

GIA NIA

Level Sq m Sq ft Sq m Sq ft

Fifth Floor 168 1,803 125 1,342

Fourth Floor 177 1,907 122 1,311

Third Floor 177 1,907 122 1,312

Second Floor 177 1,907 122 1,312

First Floor 177 1,907 122 1,312

Ground Floor 125 1,342 68 734

Totals 1,001 10,775 680 7,324

A joint venture development

NOTICE: Messrs Kingly Partners, for themselves and for the vendors of this property, whose agents they are, give notice that: i) These particulars are only for the guidance of prospective purchasers and do not form part of any offer or contract. (ii) Whilst the information contained herein is issued in good faith, neither the firm nor its clients guarantee its accuracy and it is not to be relied upon as statements or representation of fact. (iii) Any intending purchasers must satisfy themselves as to the correctness of each of the statements made herein. (iv) The vendor does not make or give, and neither the firm nor any of their employees have any authority to make or give, any representation or warranty whatever in relation to this property. (v) Nothing in these particulars constitutes a statement that the property and/or any services or facilities are in good condition or working order. (vi) These particulars were completed in April 2013. (vii) Kingly Partners will not be liable, in negligence or otherwise, for any loss deriving from these particulars.

neobankside.com

VATThe property has been elected for VAT purposes and therefore VAT will be payable on the purchase price.

EPCThe property has an Energy Performance asset rating of C (56). Full details available on request.

PRICEOffers in excess of £5m subject to contract reflecting a capital value of £682 psf.

CONTACTSam Stevens Kingly Partners 020 7858 6862 ss@kinglypartners.com

Andy Verschoyle Kingly Partners 020 7858 6861 av@kinglypartners.com

TENURE

999 year virtual freehold at a peppercorn.

MARKET COMMENTARY

The Southbank is a true 7 day location and boasts a wealth of cultural and tourist attractions popular with tourists, residents and businesses alike. The area benefits from excellent transport links and easy connectivity to the City, Mid-Town and West End.

The Southbank is an established central London office market. Take-up has been by both local occupiers and those coming into the market from the West End, Midtown and the City, attracted by the location, quality of space and cost.

Quoting rents for newly refurbished offices nearby are £45 - £47.50 psf. Headline transactions completing recently in both the letting and investment market include:

INVESTMENT

LETTING

Property Floor Tennant Area Sq ft Specification Terms PSF

6-10Valentine Place

First Client Relationship Consultancy

3,500 Refurbished warehouse

with cooling

10 years £37.50

The Blue Fin110 Southwark St.

Fifth Canonical 16,000 Grade A Office building

10 years £45.00

Address Description Area Sq ft Rent PA Rent PSF Price NIY PSF Tenancy

Minerva House5 Montagu Close

1980sOffice

building

103,779 £3,407,950 £32.84 £60m 5.37% £578 Multi let

Palestra197-200 Blackfriars Road

10 year old Office

building

305,517 £12,002,185 £39.94 £220m 5.16% £732 TFL(Aug 2026)