One Crown PlaceThe jewel in the city’s crown

One Crown PlaceDevelopment overview

Reflecting the old-meets-new character of the City and Hackney, One Crown Place comprises existing period buildings with two new residential towers offering 246 apartments. The six-floor podium features 15,500 sq m of high-quality office space, with a variety of retail space at ground level including a boutique hotel and members’ club.

The residences’ living spaces define modern-day elegance. Quietly luxurious, carefully sourced materials from across the globe sit side by side with details influenced by their eclectic surroundings, while clever zoning creates flexible living and entertaining areas. The result is a beautifully designed building with light-filled spaces that are warm but contemporary, industrial yet glamorous.

One Crown Place, London EC2

2–3

Amenities

– Concierge (7 days per week, 24hr) – 7th Floor Common area between the two towers that includes:

– Residents’ gym – Residents’ living room and library – Work hub – Meeting room – Screening room – Private terrace – Additional private residents’ club lounge in a Georgian terrace on Sun Street.

Location

From One Crown Place’s prime location, navigating London’s most exciting neighbourhoods couldn’t be simpler. Just a few minutes from Liverpool Street Station, and with Shoreditch and Old Street a short walk away, there’s plenty to explore in the local area. The rest of London, from the West End to Canary Wharf, is within a Tube journey, plus there are quick connections to all London’s airports. What’s more, with Crossrail services scheduled to begin at Liverpool Street Station in 2018, travelling both east and west will be even faster and more efficient.

Liverpool Street 3 minutes

Old Street 8 minutes

Bank 13 minutes

Shoreditch High Street 12 minutes

The nearest new Crossrail station will be at Liverpool Street Station and this will open in December 2018. This will shorten travel times to Bond Street (7 minutes) and Heathrow (35 minutes). Similarly, the East London Line and the Thameslink expansion programme will add another layer of connectivity. This could be the most well connected new development in London with Liverpool Street Station, Moorgate and Old Street all within close proximity.

One Crown PlaceThe jewel in the city’s crown

4–5

London lifestyle

London is the only city in the world to

have hosted the Summer Olympics

three times

4 World-heritage sites, more than any other in

western Europe

3 of the top10 most visited museums in the world are in London

Kew Gardens

Royal Observatory Greenwich

Tower of London

Palace of Westminster

22mTheatre visits per year

66Michelin star restaurants

520Hotels

761Gyms

241Professional theatres

200Museums and galleries

5,000Hair salons

9,224Cafes and restaurants

One of the world’s ‘greenest’ cities for its size

8Large royal parks

40%Total open green space. More than NYC,

Berlin, Paris and Amsterdam

6–7One Crown PlaceThe jewel in the city’s crown

City lifestyle

One Crown Place is perfectly situated to benefit from the cultural and business hub of the City, as well as the plethora of amenities offered by its bordering districts which include the trendy neighbourhoods of Shoreditch and Spitalfields.

The City, London’s most historic district, has been dramatically transformed in recent years. Once only a place of work, residential development is now actively encouraged. This has brought with it cool new bars and restaurants, boutique fitness studios and pop-ups. This new chapter for the City means that as well as being London’s business centre, it’s now also a place where people come to relax and have fun.

One Crown Place also neighbours Tech City, which has evolved into the epicentre of the UK’s booming tech industry. Launched in 2010 the area has grown from hosting a few fledging technology start-ups to now accommodating the largest concentration of technology companies in the UK. This concentration of young creatives and professionals have created a buzzing social scene.

One Crown Place also sits on the doorstep of Shoreditch. This previously deprived area is now one of London’s most fashionable neighbourhoods. Among its former warehouses, you’ll now find an irresistible mix of Michelin-starred restaurants, street-food outlets, designer boutiques, art galleries and trendy bars. Adjacent to Shoreditch is the rejuvenated district of Spitalfields. Its eponymous market has been completely redeveloped and also included two new public spaces, an arts and events programme and the restoration of several

City border

City of London

One Crown Place

Liverpool Street 3

Moorgate 5

Old Street 8

Shoreditch High Street 12

Bank 13

Tottenham Court Road 4

Canary Wharf 6

London Bridge 7

Waterloo 7

Kings Cross St Pancras 8

Stratford 8

Paddington 10

Victoria 14

London City Airport 30

Heathrow Airport 35

Gatwick Airport 40

Stansted Airport 45

Luton Airport 50

Average travel times in minutes

Walking Tube Train Crossrail

historic streets. The market now incorporates well-known restaurant chains as well as independent outlets, and the traditional stalls are accompanied by fashionable boutiques and high-street names.

Getting around

One Crown Place benefits from being located in close proximity to a number of key transport hubs. In particular it is a few minutes’ walk from Liverpool Street station with Shoreditch, Moorgate and Old Street close by; between them this gives residents access to over five tube lines.

The rest of the city is easily accessible and there are fast connections to all London’s airports. In addition, Crossrail will open at Liverpool Street in 2018 meaning travelling across the city will be even faster and more efficient.

8–9One Crown PlaceThe jewel in the city’s crown

One Crown PlaceLocal area analysis

1 Ashurst – 700 employees

2 Allen and Overy – 7,500 employees

3 RBS – 670 employees

4 Pinsent Masons – 1,900 employees

5 Close Brothers – 530 employees

6 UBS – 5,000 employees

7 Liverpool Street Station

8 Bloomberg – 420 employees

9 Cisco – 2,000 employees

10 Deutsche Bank– 2,900 employees

11 Moorgate Station

12 Simmons & Simmons – 2,300 employees

13 Linklaters – 3,000 employees

14 ING – 1,300 employees

15 Bank Station

ONE CROWN P L A C E

1

2

34

5

67

8

13

14

1512

11

109

Number of employees are approximate and based upon average occupancy figures of 1 person per 100 sq ft.

The City is one of London’s prime business hubs. It accommodates traditional companies across the financial services, accounting and insurance sectors but now also hosts numerous creative and tech companies. One Crown Place is perfectly positioned on the border of the City and benefits from being neighbours to its principal office campus known as The Broadgate Estate (see box 1).

Over the past decade the core office market has expanded into the City’s border area into districts like Clerkenwell, Shoreditch and Old Street. New grade A office space has sprung up in these markets, replacing the older stock and attracting numerous high profile companies: Amazon will move to its new UK headquarters in Shoreditch this year, adding 5,000 workers to the area. As a result, these areas are now considered part of the core office markets in London.

Over the last few years the City and border markets have also benefitted from an eastward migration of companies from the West End. In 2016 an estimated 500,000 sq ft of office space left the West End market and moved to the City.

Perhaps one of the main contributors to growth in both the City and its surrounds has been the exponential rise of the technology sector. The area now hosts more than 10,000 technology businesses that employ 70,000 people and generate over £12bn of annual revenues.

The rise of the sector began from its epicentre at Old Street in Shoreditch, with a cluster of emerging technology companies at Old Street roundabout. This has now expanded with more than 3,200 tech companies per square kilometre now concentrated in the area, which is now

known as Tech City. This spread has in-turn led to the emergence of new clusters of digital and tech companies in areas including Clerkenwell, Angel and Kings Cross. This is resulting in a further influx of workers and residents to the City and its border neighbourhoods.

The now established market in the City border will continue to attract companies, bringing further influxes of workers and residents to the area. This will be combined with the continued expansion of the City, where an additional 50,000 workers are forecast over the next decade. This will all translate into persistently strong demand for homes in the area.

The City, or Square Mile, is the epicentre of London business. It currently hosts almost 400,000 workers with a further 50,000 expected over the next decade. This, combined with a raft of other factors, means residential developments in the area will be in high demand.

Percentage of UK financial services GDP generated in London

50%

Largest forex market in world

41% of global turnover

The campus is managed by British Land, one of the UK’s largest real estate companies. It is home to some of the world’s biggest corporations and top professional practices and hosts over 30,000 workers.

British Land’s vision for the campus is to create a mixed-use, world class destination. In line with this the estate is undergoing extensive redevelopment, something that One Crown Place will also benefit from. The company completed the refurbishment of 5 Broadgate in 2015, with the world class office building forming the new headquarters of UBS.

The redevelopment of a further building on the estate, 100 Liverpool Street, is now underway. This will add 140,000 sq ft of office space to the existing building, along with 90,000 sq ft of high quality retail space. It will also improve local connections and public spaces between 100 Liverpool Street, Liverpool Street Station and Broadgate Circle. Future development opportunities on the estate include the refurbishment of 1 Finsbury Avenue and the redevelopment of 2–3 Finsbury Avenue.

Local regeneration: The Broadgate Estate

Key features

landscaped squares

acre campus

buildings

4

1630

4.7m sq ft

The Broadgate Estate is one of the City’s main commercial districts. It covers more than 4.7 million sq ft and hosts a multitude of multi-national companies. One Crown Place sits adjacent to the estate and is therefore well positioned for the existing 30,000 strong workforce, particularly those who are private renters.

City working

10–11

One Crown PlaceLocal area analysis

Tech City and emerging tech clusters

AngelAngel is Islington’s most significant town centre. Many small businesses have been attracted to the area, which is increasingly growing in significance as a business cluster.

ClerkenwellClerkenwell is a well-established cluster with a high concentration of advertising, marketing, communications and branding agencies. Farringdon station will also open to Crossrail in 2018 and it will further benefit from the £6.5bn Thameslink improvement programme.

Tech CityThe government formally announced its support to develop Tech City in 2010. Today the area hosts more than 3,200 technology firms per square kilometre and is fuelling the emergence of new tech clusters.

London Bridge / BermondseyThe area is experiencing increasingly significant levels of startup activity, particularly in the tech and creative industries.

Canary WharfCanary Wharf is home to Europe’s largest financial-tech (fintech) and retail start-up accelerator space situated on levels 24, 39 and 42 of One Canada Tower. The area now accommodates 170 fintech start-ups spanning 80,000 sq ft of office space.

Kings Cross£550m of regeneration means Kings Cross is now home to leading businesses, academic institutions and a plethora of organisations well positioned to develop London’s digital economy. Overall the area will receive £4.5bn of investment and up to 30,000 people will be living, working and studying in the area by 2016. It will also become home to Google in 2017, bringing a further 4,500 employees. Typically, office rents in Kings Cross have traded at a discount to the City core. However, average rents have now overtaken the core and are currently priced at a 20% premium, illustrating the level of demand for office space in the area.

Angel

Tech CityShoreditch

Clerkenwell

Canary Wharf

London Bridge/ Bermondsey

Kings Cross

Tech City

Emerging tech clusters

12–13

One Crown PlaceCBRE Research

The City of London Corporation now actively encourages residential development. This, along with a range of other uses including retail and restaurants which have made the City a vibrant place to live as well as work. As a result the number of people living in the area has increased by 60% since 2001 and a further 3,500 residents are expected over the next 10 years.

In tandem with this has been the transformation of the area bordering the City. Previously run-down neighbourhoods like Clerkenwell, Hoxton, Shoreditch and Spitalfields are now extremely fashionable and their homes highly sought after. The result has been a 21% increase in the areas population, equating to an extra 45,000 people. The neighbourhoods draw residents from across London, including the employment hubs of Canary Wharf and the West End, as well as the City, where salaries average between £50,000 and £80,000 per year.

The City was once only a place of work, but this has changed, with residential development actively encouraged. This has been combined with the transformation of neighbourhoods like Shoreditch and Clerkenwell which means that homes in and around the City are constantly in high demand.

The housing market in the City has performed strongly. Over the five years average house prices have increased by 65%, equating to annual growth of 12.2%. This compares with total growth of 47% in prime central London, or 8.3% per annum.

Average house prices in the area are currently £790,000, a premium of 64% compared with London.

In recent years the City’s housing market has recorded significant growth and average house prices now contend with those in traditional prime central London.

Crossrail will also boost the housing markets in both the City and the surrounding area. Overall, we project that house prices will increase by an additional 3.3% in the areas surrounding the stations. Specifically, prices surrounding Liverpool Street will be boosted by a further 4.8% per annum on top of standard price inflation.

Average house price index

Ave

rag

e H

ouse

Pric

e In

dex

260

240

Nov

‘06

May

‘07

Nov

‘07

May

‘08

Nov

‘08

May

‘09

Nov

‘09

May

‘10

Nov

‘10

May

‘11

Nov

‘11

May

‘12

Nov

‘12

May

‘13

Nov

‘13

May

‘14

Nov

‘14

May

‘15

Nov

‘15

May

‘16

Nov

‘16

220

200

180

160

140

120

100

80

The City Prime Central London London

As a result, the City and its border are dominated by the socio-economic group known as ‘city prosperity’, one of the highest earning cohorts. They typically work in high-status positions in key financial and professional organisations and command substantial salaries. The tech industry is also bringing a new wave of these residents to the area. As a result there are a high proportion of high earners (£60,000 pa+) in the area with those in the City’s bordering neighbourhoods relatively younger. More than 40% of high-earning residents in the neighbouring districts are between 18 and 35 years old. This compares with approximately a quarter in the City and traditional prime central London. Boost to house prices from Crossrail

4.8% p.a

Below £600,000

£600,000 – £700,000

£700,000 – £800,000

£800,000 – £900,000

£900,000 – £1,000,000

Above £1,000,000

One Crown Place

City housing marketCity living

14–15

One Crown PlaceCBRE rental investment

£4,000

However, not everyone will own their own home which has resulted in a large population of affluent renters in the area. Between 2001 and 2011 the private rented sector in the City has increased by 50% and it has more than doubled in the bordering neighbourhoods. This equates to an increase of more than 5,000 private rented households across the area. One Crown Place for example, is located on the doorstep of Shoreditch and Spitalfields where the number of private renters has increased by 154% and 164% respectively, totalling an additional 2,000 households.

There are currently 20,000 private renters living nearby to One Crown Place earning over £50,000 per annum. Almost one fifth of these earn more than £100,000 per annum. The transient nature of renters’ means there is a large population of tenants for investors at One Crown Place to draw from.

The City was once only a place of work, but this has changed, with residential development actively encouraged. This has been combined with the transformation of neighbourhoods like Shoreditch and Clerkenwell which means that homes in and around the City are constantly in high demand.

Growth of the private rented sector Current private renters and their income

Average asking rents (2 bedroom apartments) in the City

The City

+50%

+120%

City fringe

20,000

18,000

16,000

14,000

12,000

10,000

8,000

6,000

4,000

2,000

0

9,000

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

2005

£3,000

£3,000

£2,500

£2,000

£1,500

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

£10k

–£14

k

£15k

–£19

k

£20k

–£29

k

£30k

–£39

k

£40k

–£49

k

£50k

–£59

k

£60k

–£69

k

£70k

–£99

k

>£1

00,0

00

2016

Num

ber

of h

ouse

hold

s

Num

ber

of e

xist

ing

priv

ate

rent

ers

2001

Ave

rage

Ask

ing

Ren

t (£p

cm)

2011

Location of universities and concentration of students living in the private rental sector

University of Westminster

School of Oriental and African Studies

London School of Economics and Political Science

King’s College London

The CIty University

Queen Mary University of London

University College London

Below 50

50 – 100

100 -– 150

150 – 200

200 – 250

Above 250

City Fringe

One Crown Place

University of the Arts, London

Average asking rent (pcm) Linear

Demand for rental property in the area is also driven by the student market. The area allows students to benefit from the buzz of London life and benefits from easy access to London’s top universities. In the 2014/15 academic year there were almost 17,600 students living in the City’s bordering neighbourhoods, a third of which lived in the private rented sector.

A high demand for rental property from an affluent population has driven growth in the area. In the City average asking rents have increased by 6.4% a year and are currently £3,270 per month. Gross yields across the area currently average approximately 4.0%.

City rentals

16–17

One Crown PlaceOne Crown Place lettings investment

Estimated rental values £ per week

Estimated rental yields

One bedroom £745 – £925 3.9 – 4.9%

Two bedroom £1,115 – £1,335 4.5 – 4.6%

Three bedroom £1,750 – £2,500 2.9 – 3.8%

Three bedroom duplex £3,750 – £4,500 3.1– 3.5%

Key facts:

Key services:

Tenant profile

We have an extensive database of high-calibre clients, actively looking for luxury apartments in central London.

Tenant Nationality(Region of origin) %

Europe, Middle East and Africa 69

Asia Pacific 19

Americas 12

Tenant Occupation % Of those employed %

TMT (Tech/Media/Telecoms) 32

Finance 29

Arts and Entertainment 7

Legal 6

Property 6

Healthcare 6

Retail/Fashion 5

Energy/Oil 5

Government/Embassy 2

Retired 2

Employed 61

Student 39

Residents’ amenity space

Lettings service Full property management service

Post completion handover service

11%, discounted for One Crown Place buyers to 8%

17%, discounted for One Crown Place buyers to 12%

£700, free of charge for One Crown Place buyers

(All prices are subject to VAT at prevailing rate, currently 20%)

Samuel AndersonLettings Manager - East London and City+44 20 7519 5931samuel.anderson2@cbre.com

One Crown Place lettings investment

The unrivalled location of One Crown Place, bordering the City of London, means that high calibre, corporate tenants will find this location perfectly positioned. There are 6,000 renters in the surrounding area that earn over £100,000 per annum and the area is synonymous with a range of leading global occupiers from the finance, legal and corporate sectors including: UBS, Deutsche Bank, ING, Icap and Henderson Global Investors.

18–19

Jennet Siebrits Head of Residential Research +44 20 7182 2066 jennet.siebrits@cbre.com

Scott Cabot Head of Rental Research +44 20 7182 2362 scott.cabot@cbre.com

Tom Bryant Sales Director +44 20 7182 2562 tom.bryant@cbre.com

James Thornett Lettings Director +44 20 7182 2515 james.thornett@cbre.com

CBRE Limited confirms that information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt their accuracy, we have not verified them and make no guarantee, warranty or representation about them. It is your responsibility to confirm independently their accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE. Images provided are computer generated. All travel times taken from TFL. © 2017 CBRE Ltd.

CBRE, Experian, Molior, Nationwide, ONS, TFL, UCAS

Disclaimer 2017 CBRE

Sources

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