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Savills London Residential Development Development Land
savills.co.uk/londonland
Transactional Activity 2017
In 2017 Savills London Residential Development Land Team transacted on sites totalling more than £1 billion in land value, equalling the performance of 2016. Despite the uncertainty created by the turbulent political environment and ongoing Brexit negotiations, the development market has shown remarkable resilience. London has remained a key location for overseas investors and developers who see value and opportunity in the land market.
We enter 2018 with strong demand for development opportunities across London from a variety of investors and new entrants to the market.
Please feel free to contact any member of the team if you would like to discuss a potential disposal or acquisition with us. Contact details for the team are listed at the end of this publication.
Darren Arnold Director+44 (0) 20 7409 [email protected]
Tim Whitmey Director+44 (0) 20 7409 [email protected]
Stone Studios, Hackney Wick E9
Disposal of a 1.06 acre site comprising four separate existing buildings. Planning permission had been granted for the demolition of most existing buildings and redevelopment to provide a mixed use development comprising 5,365 sq m (57,748 sq ft) GEA of commercial floorspace and 120 residential units.
Status: Sold
Date: Apr-17
Vendor: Property Company
Purchaser: Housebuilder
Purchase Price: £25,750,000
12-20 Dock Street, Aldgate E1
Sale of a largely cleared 0.25 acre site with permission for a scheme comprising 89 private residential units and commercial space at ground and lower ground floors.
Status: Sold
Date: Jan-17
Vendor: Property Company
Purchaser: Contractor Developer
Sale Price: £21,500,000
New Malden House, New Malden KT3
Long leasehold sale of an existing B1 office building with planning permission for 93 apartments with a total NSA of 7,069 sq m (76,086 sq ft).
Status: Sold
Date: Feb-17
Vendor: Property Company
Purchaser: Residential Developer
Sale Price: £15,450,000
317a & 400 Hoe Street, Walthamstow, E17
Two freehold sites - 0.14 and 0.4 acres in size which benefited from a linked planning permission for two schemes comprising 54 apartments totalling 4,788 sq m (51,538 sq ft) and 375 sq m (4,036 sq ft) flexible commercial space.
Status: Sold
Date: Feb-17
Vendor: Private Landowner
Purchaser: Housing Association
Sale Price: £6,200,000
Stratford Shopping Centre, Newham E15
Long leasehold interest sale of a 28,462 sq m (306,360 sq ft) shopping centre located on a 10.24 acre site. The site had planning permission for an additional 587 residential units.
Status: Sold
Date: Feb-17
Vendor: Property Company
Purchaser: Property Company
Sale Price: Excess £140,000,000
Imperial House, Rayners Lane HA2
1.75 acre site comprising an existing office building 9,561 sq m (102,913 sq ft) GIA in size. The property had prior approval for conversion of the existing building to 203 private residential apartments.
Status: Sold
Date: Feb-17
Vendor: Property Company
Purchaser: Developer Contractor
Sale Price: £26,000,000
Highbury Delivery Office, Hamilton Park N5
0.37 acre site with potential for redevelopment which is in use as a Royal Mail delivery office.
Status: Sold
Date: Mar-17
Vendor: Royal Mail
Purchaser: Private Office
Sale Price: £3,650,000
Cantium Retail Park, Old Kent Road SE1
4.69 acre retail park with redevelopment potential. Savills were instructed to source a Joint Venture partner for residential-led mixed use redevelopment.
Date: Mar-17
Vendor: Institution
Purchaser: Galliard JV
Sale Price: Confidential
4-5 Buckingham Gate SW1
A Grade II listed office building comprising 2,404 sq m (25,881 sq ft) which has a lease expiring in 2020. The site had planning permission for 11 apartments.
Status: Sold
Date: Dec-17
Vendor: Private Individual
Purchaser: Overseas Investor
Sale Price: £32,000,000
Fresh Wharf, Barking IG11
11 acre industrial site with planning for over 900 residential units.
Status: Sold
Date: Mar-17
Vendor: Private Company
Purchaser: Housebuilder
Sale Price: £32,000,000
Kew Biothane, Kew TW9
Thames Water site of 1.76 acres with potential for residential redevelopment.
Status: Sold
Date: Dec-17
Vendor: Utility Company
Purchaser: Care Home Provider
Sale Price: £13,000,000
Recorder House, 539 High Road, Ilford IG11
Unconditional sale of a 0.84 acre site with an existing vacant publishing building and ancillary offices.
Status: Sold
Date: Apr-17
Vendor: Private Company
Purchaser: Private Individual
Sale Price: £8,050,000
Bodgers Department Store, Ilford IG11
Existing retail department store and an adjoining property with retail on ground and commercial above with potential for redevelopment.
Status: Acquired
Date: Apr-17
Vendor: Private Company
Purchaser: Private Individual
Sale Price: Confidential
2 Salisbury Road, High Barnet EN5
A 0.15 acre site with an existing building extending to 198 sq m (2,130 sq ft). The site was sold without the benefit of a planning consent.
Status: Sold
Date: Apr-17
Vendor: Pension Fund
Purchaser: Property Company
Purchase Price: £1,100,000
1-3 Little Chester Street & 19 Chester Mews SW1
Planning permission for a new build residential scheme comprising 5 units and underground car parking. NSA 1,020 sq m (10,979 sq ft). GIA 1,614 Sq m (17,367 sq f).
Status: Sold
Date: Aug-17
Vendor: Property Company
Purchaser: Private Investor
Sale Price: £15,300,000
High Road, Whetstone N20
Property with prior approval for conversion of the existing office building to provide 75 private apartments extending to 2,648 sq m (28,508 sq ft).
The site additionally had a pending prior approval application for conversion, with a further 9 private units to provide 75 units with larger NSA 3,426 sq m (36,881 sq ft).
Status: Sold
Date: May-17
Vendor: Private Investor
Purchaser: Property Company
Purchase Price: £10,500,000
39 Fitzjohn’s Avenue, Hampstead NW3
A part freehold, part leasehold site extending to 1.72 acres with a c. 2,044 sq m (22,000 sq ft) sq ft residential property and extensive gardens with potential for development.
Status: Sold
Date: May-17
Vendor: Private Individual
Purchaser: Overseas Investor
Sale Price: £20,000,000
193 Ballards Lane, Finchley N3
A former police station 1,165 sq m (12,540 sq ft) in size. The site had a planning application refused in 2016.
Status: Sold
Date: May-17
Vendor: Property Company
Purchaser: Property Company
Sale Price: £6,200,000
257-259 The Vale, Acton W3
Disposal of a part cleared site with planning consent to provide 11 residential units with a NSA of 824 sq m (8,871 sq ft).
Status: Sold
Date: Jun-17
Vendor: Residential Developer
Purchaser: Investor
Sale Price: £2,850,000
Fortescue Road, Colliers Wood SW19
Former Thames Water site with planning permission for a 74 unit residential scheme with a NSA of 4,844 sq m (52,135 sq ft).
Status: Sold
Date: Jun-17
Vendor: Property Company
Purchaser: Registered Provider
Sale Price: £11,050,000
16 The Vale, Acton W3
Existing B8 building of 3,171 sq m (34,132 sq ft) which had consent for a 39 unit apartment scheme 1,066 sq m (11,475 sq ft) NIA of commercial space.
Status: Sold
Date: Jun-17
Vendor: Developer
Purchaser: Registered Provider
Sale Price: £13,500,000
22-24 Broadlands Road & 13 Denewood Road, Highgate N6
0.91 acre site which was split into four separate lots with separate planning consents to provide 7 houses in total.
Status: Sold
Date: Jul-17
Vendor: Charity
Purchaser: Residential Developer
Purchase Price: £13,500,000
High Street, Feltham TW13
An existing office building of 2,483 sq m (26,727 sq ft) NIA which had a prior approval for conversion PD and separate planning consent to provide a total of 77 residential units with 91 sq m (975 sq ft) of retail at ground floor.
Status: Sold
Date: Jul-17
Vendor: Private Investor
Purchaser: Private Investor
Sale Price: £8,750,000
Hendon Reform Synagogue, Hendon NW4
Former synagogue of 1,707 sq m (18,377 sq ft) set across a site of 0.69 acres. The site was sold with the benefit of a formal pre-application response for a residential scheme.
Status: Sold
Date: Jul-17
Vendor: Charity
Purchaser: Education Provider
Sale Price: £6,350,000
Palmerston Road, Harrow HA3
Site assembly of 2 adjacent sites and subsequent disposal on an unconditional basis for a co-living scheme
Status: Sold
Date: Jul-17
Vendor: Private Property Company
Purchaser: Property Company
Sale Price: £5,800,000
Brickworks, Slough SL2
Site with planning permission for 155 apartments providing 9,717 sq m (104,594 sq ft) NSA of residential accommodation over four to seven storeys.
Status: Sold
Date: Jul-17
Vendor: Property Company
Purchaser: Residential Developer
Sale Price: £10,500,000
New Road, Crouch End N8
Disposal of a 0.23 acre site with planning permission for the demolition of the existing buidlings and construction of 9 new residential homes and 446 sq m (4,801 sq ft) of B1a office space. Sold to a developer who will hand the commercial element back at nil cost.
Status: Sold
Date: Sept-17
Vendor: Residential Developer
Purchaser: Residential Developer
Sale Price: £2,735,000
Royal Mail Depot, Loughton IG10
Disposal of a 0.39 acre former Royal Mail sorting and delivery office. The site benefitted from pre-application discussions with the LPA for a 25 unit scheme with a NSA of 1,628 sq m (17,528 sq ft).
Status: Sold
Date: Jul-17
Vendor: Royal Mail
Purchaser: Property Company
Sale Price: £2,850,000
Royall Mail Delivery Office, 49 Marlborough Road, London E18
A 0.11 acre freehold development site comprising a two storey building with basement which was a Royal Mail delivery office.
Status: Sold
Date: Dec-17
Vendor: Royal Mail
Purchaser: Pension Fund
Sale Price: £1,450,000
Burlington Retail Park, New Malden KT3
Disposal of a 4 acre income producing retail warehouse site with potential to provide c. 400 residential units.
Status: Sold
Date: Aug-17
Vendor: UK Fund
Purchaser: UK REIT
Sale Price: £28,300,000
Royal Mail, Mount Pleasant EC1
Acquisition of a 6.25 acre site with planning consent for 681 residential units, flexible retail and community space totalling 97,287 sq m (1,047,192 sq ft) GIA.
Status: Acquired
Date: Aug-17
Vendor: Institution
Purchaser: Housebuilder
Purchase Price: Confidential
3 Great West Road, Chiswick W4
A 4 storey former office building with prior approval for change of use to provide 10 private residential apartments set over a 0.14 acre site.
Status: Sold
Date: Sep-17
Vendor: Residential Developer
Purchaser: Residential Developer
Sale Price: £3,350,000
www.jeffersonsheard.com
1, 3 & 5 Rainsford Street, Paddington W2
A terrace of three mews buildings which has planning consent for conversion and extension to three mews houses with a total NSA of 308 sq m (3,310 sq ft).
Status: Sold
Date: Sep-17
Vendor: Charity
Purchaser: Private Individual
Sale Price: £2,700,000
37 Hilldrop Lane, Tufnell Park N7
Site with an existing two storey dwelling house with planning consent for demolition and construction of a three storey building comprising 9 private apartments with a NSA of 660 sq m (7,100 sq ft).
Status: Sold
Date: Oct-17
Vendor: Residential Developer
Purchaser: Housebuilder
Sale Price: £2,250,000
St Margarets, Rectory Lane, Edgware HA8
Surplus Rectory building on a 0.85 acre site with potential for redevelopment for a residential led scheme.
Status: Sold
Date: Oct-17
Vendor: Charity
Purchaser: Property Company
Sale Price: £4,600,000
202 – 204 Selhurst Road, South Norwood SE25
A part residential / part HMO building with planning consent for 12 residential units comprising 693 sq m (7,465 sq ft) NSA.
Status: Sold
Date: Oct-17
Vendor: Private Individual
Purchaser: Residential Developer
Sale Price: £1,905,000
1-2 Majestic Way, Mitcham CR4
2.46 acre site containing a food store, anchored retail parade, sold unconditionally.
Status: Sold
Date: Oct-17
Vendor: Private Company
Purchaser: Property Fund
Sale Price: £11,900,000
21 Maresfield Gardens, Hampstead NW3
A 565 sq m (6,079 sq ft) existing building in D1 use set on a 0.14 acre site. Sold on a sale and leaseback basis.
Status: Sold
Date: Dec-17
Vendor: Charity
Purchaser: Property Company
Sale Price: £4,000,000
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Our Coverage
Key contacts
Central North South
East
North East South West
Tim Whitmey Director+44 (0) 20 7409 [email protected]
Darren ArnoldDirector+44 (0) 20 7409 [email protected]
Andrew CoxDirector+44 (0) 20 7016 [email protected]
Luke HawkesburyDirector+44 (0) 20 7409 [email protected]
Lucy RobbieSurveyor+44 (0) 20 7409 [email protected]
Helen Parish Personal Assistant+44 (0) 20 7409 [email protected]
Alice TuckerTeam Secretary+44 (0) 20 7299 [email protected]
Ed de JongeDirector+44 (0) 20 7016 [email protected]
Andrew CooperAssociate Director+44 (0) 20 7016 [email protected]
Lizzie ParrottAssociate Director+44 (0) 20 7409 [email protected]
James Donger Surveyor+44 (0) 207 016 [email protected]
Sean CooperAssociate Director+44 (0) 20 7409 [email protected]
Hugh BushellSurveyor+44 (0) 20 7075 [email protected]
Alex SoskinAssociate Director+44 (0) 20 7409 [email protected]
West
Administration
Rob PollockDirector+44 (0) 20 7409 [email protected]
Harry Wentworth-StanleyAssociate+44 (0) 20 7016 [email protected]
savills.co.uk/londonland