LAND TRACK RECORD 2015/16 - Knight Frank

LAND TRACK RECORD 2015/16GREATER LONDON

• 2015/2016 was a record year for the Knight Frank London Land teams

• £2.79 billion in land transacted

• 65 deals across Greater London

In spite of a challenging residential market 2015/2016 was an outstanding financial year for the Knight Frank Residential London Land teams, albeit we experienced a tangible shift in the market’s requirements which moved from a focus on Zone 1 into locations which are perceived as more entry level. Spotting this trend has been key to our outperformance.

The fast paced policy environment presented a number of challenges, most notably an amended stamp duty regime, a Mayoral election and the uncertainty cast over the market in the run up to the EU referendum. Despite this both developers and investors continued to aggressively pursue opportunities that represented good value.

Developer focus has moved away from higher value areas in Central London to Zones 2 to 6 and beyond where demand is perceived to be more robust with greater capacity for growth. This is demonstrated by the spread of our transacted deals of all sizes, as displayed on the map enclosed. The breadth of our experience makes us well placed to overcome the challenges presented by the referendum.

We recognise that in the fast changing political climate, the approach towards current and future development remains uncertain and as a corollary we expect the market to demonstrate an erratic pattern over the next six months. Knowledge and experience has never been more important.

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.

Justin GazeJoint Head of Residential Development

Ian MarrisJoint Head of Residential Development

INTRODUCTION

Charles DugdaleResidential Land Agency [email protected]+44 20 7861 5411

QUINTAIN

Quintain

Price: £745,000,000

Deal type: Acquisition Advisory

Vendor: Quintain

Purchaser: Lonestar

Description: Corporate purchase involving a combined total of 5,500 units. Appraisal and development consultancy advice to purchasing entity

LAND TRACK RECORD 6

Daniel WardResidential Land [email protected]+44 20 7861 5432

Ian MarrisResidential [email protected]+44 20 7861 5404

Addiscombe Square, Croydon, CR0

Price: £20,000,000

Deal type: Sale

Vendor: Royal Mail

Purchaser: Hyde Group

Description: 1.19 acre site with planning permission for 201 residential apartments

ADDISCOMBE SQUARE

Jason HobbsResidential Land [email protected] +44 20 7861 5417

Daniel WardResidential Land [email protected]+44 20 7861 5432

Grand South, 12-20 Wyvil Road, SW8

Price: £30,750,000

Deal type: Sale

Vendor: Network Rail & Wyvil Road Limited

Purchaser: Alchemi Group

Description: 0.86 acre site with planning permission for 219 residential apartments with 4 retail units and office space

GRAND SOUTH

LAND TRACK RECORD 8

James KeeganResidential [email protected] +44 20 7861 5481

Justin GazeResidential [email protected] +44 20 7861 5407

Vauxhall Cross

Price: Confidential

Deal type: Sale

Vendor: Wendover Investments Limited

Purchaser: VCI Property Holding Limited

Description: Extant planning permission for a mixed use development including 291 apartments within two towers of 115m and 140m

VAUXHALL CROSS

Charles DugdaleResidential Land [email protected]+44 20 7861 5411

LAND TRACK RECORD 10


Phase 4b, Millbrook Park, NW7

Price: £25,000,000

Deal type: Sale

Vendor: Inglis Consortium

Purchaser: Prime Place

Description: 2.68 acre site with planning permission for 188 units

MILBROOK PARK

Phase 4c, Millbrook Park, NW7

Price: £25,100,000

Deal type: Sale

Vendor: Inglis Consortium

Purchaser: Taylor Wimpey

Description: 4.32 acre site with planning permission for 89 residential units

Charter Square, Staines, TW18

Price: £20,000,000

Deal type: Sale

Vendor: Melford Capital

Purchaser: London Square

Description: 2.06 acre site with planning permission for a mixed use scheme with 246 private units

CHARTER SQUARE



Anthony KazanResidential [email protected] +44 20 7861 1286

13-15 Princes Gate, Knightsbridge, SW7

Price: £72,000,000

Deal type: Sale

Vendor: Viridis RE

Purchaser: Middle East high net worth individual

Description: B1 offices with planning permission for conversion to 2 houses (C3) and extension to 41,821 sq ft

13-15 PRINCES GATE



Jack SmalesResidential Land [email protected] +44 20 7861 5410

0m 10m 20m 30m

Page Aerospace Site, Sunbury-on-Thames, Middlesex, TW16 6EQ

Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432.Getmapping plc 2015. Plotted Scale - 1:1250

Forge Lane, Sunbury, TW16

Price: £5,500,000

Deal type: Sale

Vendor: Page Aerospace

Purchaser: Fairview

Description: 2 acre site with residential development potential for c.30 units without planning permission

FORGE LANE

40 Great Marlborough Street, W1

Price: £18,250,000

Deal type: Sale

Vendor: Westbrook

Purchaser: Hong Kong Developer

Description: B1 offices with planning permission for conversion to 4 apartments (C3) over a commercial unit (A1/B1) over 15,590 sq ft

40 GREAT MARLBOROUGH STREET



WALWORTH ROAD

Walworth Road, Elephant & Castle, SE17

Price: £10,500,000

Deal type: Sale

Vendor: Goldcrest

Purchaser: Private

Description: 0.75 acre site with planning permission for 67 residential units

Nick AldermanResidential [email protected]+44 20 7861 5408


NATIONAL INSTITUTE FOR MEDICAL RESEARCH

National Institute for Medical Research, Mill Hill, NW7

Price: confidential

Deal type: Acquisition

Vendor: Medical Research Council

Purchaser: Barratt London

Description: Subject to planning development opportunity for over 450 residential units


James KeeganResidential [email protected] +44 20 7861 5481

Sampson & Ludgate, Southwark, SE1

Price: In excess of £290,000,000

Deal type: Sale

Vendor: The Carlyle Group

Purchaser: Native Land

Description: 5.4 acre site with planning permission for 489 residential units, 280,000 sq ft commercial plus associated retail and leisure

SAMPSON & LUDGATE


25-26 Pembridge Square, W2

Price: £29,750,000

Deal type: Sale

Vendor: Private individual

Purchaser: Middle East high net worth individual

Description: C1 hotel with planning permission for conversion to a single house (C3) over c.30,000 sq ft with planning permission pending for conversion to 6 apartments

25-26 PEMBRIDGE SQUARE


Tolworth Tower, Tolworth, KT6

Price: £53,500,000

Deal type: Sale

Vendor: Shay Bannon and Sarah Megan Rayment of BDO LLP, joint administrators of Stevenor Investments Limited (in administration)

Purchaser: CNM Estates (Tolworth) Ltd

Description: Unconditional sale of a 3.75 acre site with mixed use development potential. Existing building extends to c.300,000 sq ft

TOLWORTH TOWER 1201 HIGH ROAD


1201 High Road, Whetstone, N20

Price: £26,000,000

Deal type: Sale

Vendor: Private Client

Purchaser: Crest Nicholson

Description: 2.5 acre site with detailed planning permission for a 115,000 sq ft development comprising 124 residential units


Nick AldermanResidential [email protected]+44 20 7861 5408

Project Anne

Price: confidential

Deal type: Acquisition and Sale

Client: Galliard Homes and Barratt London

Description: Unconditional deal on c.7 acre site which now has planning for 838 residential units

PROJECT ANNE

Five Oaks, Chigwell, IG7

Price: 40,000,000

Deal type: Sale

Vendor: Countryside Properties

Purchaser: L&Q

Description: 45 acres with detailed planning permission for 425 residential units

FIVE OAKS


James BartonResidential Development City & [email protected] +44 20 7718 5226

Nick ParrResidential Development City & [email protected] + 44 20 7718 5224

Colville Towers, Hackney, N1

Price: £60,000,000

Deal type: Sale

Vendor: London Borough of Hackney

Purchaser: Anthology

Description: Site with detailed planning permission for 198 private residential units in two towers

COLVILLE TOWERS



Mecca Bingo, Hackney Road, E2

Price: £15,100,000


Vendor: William Pears Group / LaSalle Investment Management

Purchaser: EG Group (LBS Properties)

Description: 0.4 acre site without planning permission with residential development potential

MECCA BINGO


WE5b, Royal Docks, E16

Price: Confidential

Deal type: Sale

Vendor: LPA Receiver

Purchaser: Mount Anvil

Description: 0.35 acre site residential development opportunity without planning permission

WE5B

Charlie HartHead of Residential Development City & [email protected]+44 20 7718 5222


2 Dovehouse Street, Chelsea, SW3

Price: £70,000,000

Deal type: Sale

Vendor: RBKC

Purchaser: Property Company

Description: 0.8 acre vacant care home of c.40,000 sq ft. Provided development consultancy designing a 100,000 sq ft new build retirement scheme and sold on the open market

2 DOVEHOUSE STREET

Tom ScaifeInstitutional Consultancy [email protected] +44 20 7861 5429

Emma CleughInstitutional [email protected] +44 20 7861 5427

Ivy House, Golders Green, NW11

Price: In excess of £7,000,000

Deal type: Sale

Vendor: The Trustees of London Jewish Cultural Centre

Purchaser: Private

Description: Vacant school within a 0.3 acre site

IVY HOUSE


41-71 Commercial Road, London, E1

Price: £53,000,000


Vendor: Metropolitan University

Purchaser: EFA

Description: 1 acre site with c.170,000 sq ft university building

41-71 COMMERCIAL ROAD

Tom ScaifeInstitutional [email protected] +44 20 7861 5429

213 & 215-221 Borough High Street, SE1

Price: £11,755,555


Vendor: Private

Purchaser: EFA

Description: c. 18,000 sq ft vacant office building with potential for range of alternative uses

213 & 215-221 BOROUGH HIGH STREET

Acton Campus, Ealing, W3

Price: £27,000,000

Deal type: Sale

Vendor: Ealing Hammersmith and West London College

Purchaser: EFA

Description: 4 acre site with a c. 200,000 sq ft college building with further development potential

ACTON CAMPUS



Dulwich Community Hospital, SE22

Price: £25,000,000

Deal type: Sale

Vendor: NHS

Purchaser: EFA

Description: 200,000 sq ft operating hospital set in 7 acre grounds with development potential

Jack CopleyInstitutional [email protected] +44 20 7861 5443

DULWICH COMMUNITY HOSPITAL

Penywern Road, Earls Court, SW5

Price: £7,710,000

Deal type: Sale

Vendor: Private

Purchaser: Falkner House School

Description: Vacant school building extending to c.17,000 sq ft with residential development potential

PENYWERN ROAD

Tom ScaifeInstitutional Consultancy [email protected] +44 20 7861 5429

Chelsea Police Station, Chelsea, SW3

Price: £40,000,000

Deal type: Sale

Vendor: MET

Purchaser: Private

Description: Former police station extending to c.23,000 sq ft with development potential for a range of uses

CHELSEA POLICE STATION




Nick Pleydell-BouverieResidential Development Capital [email protected] +44 20 7861 5256

Kew Bridge Court, Chiswick, W4

Price: £57,500,000


Vendor: Residential Land

Purchaser: Grainger

Description: Freehold PRS investment comprising 98 units with 85 parking spaces and planning permission for a further 5 flats

KEW BRIDGE COURT ONE HYDE PARK

Guy StebbingsResidential Development Capital [email protected] +44 20 7861 5413

One Hyde Park Ground Rents

Price: Confidential

Deal type: Ground rent sale

Vendor: Confidential

Purchaser: Confidential

Description: Head leasehold ground rent investment of 86 self-contained apartments

Rutland Gate, Knightsbridge, SW7

Price: £14,500,000

Deal type: Sale

Vendor: Confidential

Purchaser: Confidential

Description: Freehold block comprising 4 self-contained apartments and an office with development potential

RUTLAND GATE

Nick Pleydell-BouverieResidential Development Capital Markets [email protected] +44 20 7861 5256


James MannixResidential Development Capital [email protected] +44 20 7861 5412

Southbank Place, Waterloo, SE1

Price: £176,000,000

Deal type: Sale

Vendor: CWG/QD

Purchaser: Overseas Investor

Description: Forward funded sale of 203 units at a yield of c.3.6%

SOUTHBANK PLACE

Plot 22, Royal Wharf, E16

Price: £75,000,000

Deal type: Sale

Vendor: Oxley

Purchaser: Institutional Fund Manager

Description: Forward funded sale of 195 build to rent units at c.4% yield

Royal Wharf Ground Rents, E16

Price: £40,000,000

Deal type: Sale

Vendor: Oxley

Purchaser: UK Institution

Description: Forward funded purchase of ground rent portfolio

PLOT 22, ROYAL WHARFROYAL WHARF GROUND RENTS

Tim TreadwellResidential Development Capital [email protected] +44 20 7861 5416

CONTACTS

Head of Institutional Consultancy

Emma Cleugh

T: +44 20 7861 5427

E: [email protected]

Joint Head of Residential Development

Justin Gaze

T: +44 20 7861 5407


Head of Residential Development City & East

Charlie Hart

T: +44 20 7718 5222


Joint Head of Residential Development

Ian Marris

T: +44 20 7861 5404


Head of Residential Development Capital Markets

James Mannix

T: +44 20 7861 5412



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London W1U 8AN

United Kingdom

+44 20 7629 8171

The Knight Frank network consists of Knight Frank LLP and its direct subsidiaries which provide services in the UK and an international network of separate and independent entities or practices providing services internationally.

KnightFrank.co.uk@KnightFrank

LAND TRACK RECORD 2015/16 - Knight Frank

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