Highly Sought After Investment And Development Opportunity In The Heart Of Bethnal Green

18Victoria

ParkSq

A highly attractive investment opportunity

Investment Summary

• Freehold

• Located in the heart of Bethnal Green, one of London’s most up diverse, fastest growing and vibrant districts.

• The property occupiers a prominent corner position on Victoria Park Square with extensive views overlooking Museum Gardens.

• 18 Victorian Park Square benefits from superb connectivity being 160m from Bethnal Green Underground Station (Central Line) running into Liverpool Street Station in 3 minutes.

• The property comprises two buildings, an impressive period building to the front and large1960s building to the rear.

• Comprises 11,615 sq ft of office accommodation arranged across the two buildings over lower ground, ground, first and second floors with the benefit of onsite parking.

• Significant development opportunity with potential to increase massing with extension to the rear.

• Potential for a wide variety of uses such as hotel, residential and offices subject to planning.

• Sold with Vacant Possession.

• Offers are invited in excess of £4,950,000 subject to contract and exclusive of VAT.

• A sale at this level reflects a low capital value of £426 per sq ft.

Exterior view of 18 Victoria Park Square, with Victorian frontage, overlooking Museum Gardens opposite

18 Victoria Park Sq

Overview

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Victoria Park

Broadway Market

In recent years Bethnal Green has been the subject of a significant amount of inward investment from a wide range of developers, investors and owner occupiers looking to capitalise on its excellent location.

Strategically positioned in the heart of East London, Bethnal Green borders Shoreditch to the west, Hackney to the north and Whitechapel to the south. Bethnal Green has become a popular location for many of the Tech, Media, Creative & Fashion sectors, who are looking to take advantage of Bethnal Green’s close proximity to the City of London (1.9 miles to the south west), Old Street Roundabout (1.6 miles to west) and Canary Wharf (2.6 miles to the south).

One of London’s vibrant and fastest growing districts – Bethnal Green

V&A Museum of Childhood

Mama Shelter

Oval Space

Columbia Road Flower

Market

2 mins walk 9 mins walk

10 mins walk 15 mins walk

Queen Mary University of

London

16 mins walk

Journey times from the building. Source: TfL.

BOXCAR Brewery & Taproom

5 mins walk

18 Victoria Park Sq

Aerial Location

Broadway Market

Canary Wharf

Gas Holders

Containerville Bethnal Green

18Victoria

ParkSq

Bethnal Green

Cambridge Heath

Whitechapel

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Buzzing with vibrancy

18 Victoria Park Square is situated on the north eastern side of Victoria Park Square on a prominent position overlooking Museum Gardens.

London Cocktail Club The Beehive Coffee

Pavilion Victoria Park

Juice Trap

Regent’s Canal

Campania

18 Victoria Park Sq

Situation

Bethnal Green benefits from an excellent amenity offering with an eclectic blend of open spaces, trendy railway arches, independent retailers, gourmet restaurants, bars and numerous leisure activities. Synonymous with London’s popping music and art scene, Bethnal Green boasts some of London’s most well-known music venues and art galleries including The Oval. This desirable blend of leisure amenities and commercial offerings has led to Bethnal Green becoming a popular place to live, work, meet and eat.

The Café Chantant

Victoria Park Lake

Ombra

V&A Museum of Childhood

London Fields

Mama Shelter

Arepa & Co

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An area full of talent

18 Victoria Park Square is situated on the north eastern side of Victoria Park Square on a prominent position overlooking Museum Gardens.

Museum Gardens has often been described as the focal point of Bethnal Green, with numerous shops, bars and Paradise Row Railway Arches in a 200-metre radius. Museum Gardens is also home to world famous V&A Children’s Museum.

1 HSBC2 Iceland3 McDonald’s4 KFC5 Tesco Metro6 Halifax7 The Star of Bethnal Green 8 Cakebox

9 BOXCAR Brewery & Taproom10 Specsavers11 Boots12 The Hive13 Co-op Food14 The Green Truffle15 Sainsbury’s Local16 Bikeworks

Local Occupiers1 York Hall2 Victoria Park3 Queen Mary University4 Columbia Road Flower Market5 Haggerston Park6 V&A Museum of Childhood

7 London Buddhist Centre 8 Bethnal Green Library 9 Bethnal Green Post Office10 Mile End Hospital11 Oval Space12 BP Petrol Station13 Bethnal Green Police Station

Amenities1 The East London Hotel2 Mama Shelter3 Town Hall Hotel4 Travelodge

Hotels

Regent’s Canal

Roman Road

Roman Road

Mare

Stre

et

Mare S

treet C

ambridge H

eath Road

Cam

bridge Heath R

oad

Hackney Road

Bishops Way

Bethnal Green Road

Bethnal Green Road

Cheshire Street

Three Colts Road

Victoria Park Road

Pritchard’s Road

Warner Place

Vallance Road

Sheep Lane

Old Bethnal Green Road

Old Ford Road

Old Ford Road

Columbia Road

Vyner Street

Victoria Park Sq

Globe Road

Sugar Loaf Wlk

Gosset Street

Queensbridge R

oad

Globe Road

Grove Road

Grove Road

CambridgeHeath

BethnalGreen

BethnalGreen

Stepney Green

VictoriaPark

HaggerstonPark

BethnalGreen

GardensWeaversFields

MuseumGardens

MiddletonGreen

OvalSpace

Columbia RoadFlower Market

Mile EndHospital

Broadway Market

Containerville

V&A Museum of Childhood

Queen MaryUniversity of London

18Victoria

ParkSq1

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Surrounding Area Map

18 Victoria Park Sq

Situation

18 Victoria Park Square benefits from excellent connectivity being in close proximity to numerous transport hubs.

Bethnal Green Underground Station is located 160 metres to the west of the property and is served by the Central Line running into Liverpool Street Station in 3 minutes.

Liverpool Street Station is one of London best connected rail stations and is served by the London Underground, National Rail, Overground and from 2022, Crossrail.

Overground

Northern Line

Hammersmith & City LineCircle LineMetropolitan Line

Hackney Downs

London Fields

Cambridge Heath

Bethnal Green

Stratford

3 mins walk

8 mins walk

10 mins cycle

Old Street

Moorgate

Tower Hill

Mile End

Monument

Bank

Midtown / West End

Whitechapel

Aldgate East

Aldgate

Homerton

Hackney Wick

Highbury & Islington

CanonburyDalston Kingsland

18Victoria

ParkSq

District Line

Connections Near & Far

Quick & easy links

Bethnal Green Overground station is located 0.5 miles to the south of the property while Whitechapel Rail Station is located 0.9 miles to the south. From 2022, as well as London Underground services, Whitechapel Station will benefit from the arrival of Crossrail.

Journey times from the building. Source: TfL.

Image of Whitechapel Crossrail Station

Liverpool Street

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A prominent building with a Victorian aesthetic

18 Victoria Park Square offers a highly attractive opportunity to significantly increase massing and create a desirable offering maintaining the buildings rich history and period features.

The prominent corner property comprises a Victorian front building which is arranged over lower ground, ground and three upper levels with fantastic views overlooking Museum Gardens. The front building connects to a larger 1960’s building to the rear. 1

2

18 Victoria Park Sq

The Building

The property is arranged over two buildings and provides 11,615 sq ft (1,079 sq m) of commercial accommodation. The front building is an attractive Victorian building boasting many of its coveted original features. The 1960’s rear building provides open plan floor plates with natural light from two elevations.

18 Victoria Park Square offers excellent potential for a wide variety of uses subject to planning.

1 Views overlooking Museum Gardens

2 Ground floor accommodation with courtyard

3 Open plan commercial space

4 Ground floor stairwell

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4

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Floor Sq Ft (GIA) Sq M (GIA)

Second 810 75

First 4,701 437

Ground 5,199 483

Lower Ground 905 84

Total 11,615 1,079

Arranged over four floors with potential for a variety of uses

Lower Ground Floor

905 Sq Ft / 84 Sq M

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SUGAR LOAF WALK

18 Victoria Park Sq

Accommodation

Ground Floor

5,199 Sq Ft / 483 Sq M

First Floor

4,701 Sq Ft /437 Sq M

Second Floor

810 Sq Ft / 75 Sq M

NPlans not to scale. For indicative purposes only.

VIC

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SUGAR LOAF WALK

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Office Space Core Terrace

Courtyard

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A great opportunity

18 Victoria Park Square offers significant development potential for a wide variety of uses, subject to the necessary consents.

1

Pricing underlined by strong commercial and residential

values within the locality.

Mixture of highly desirable Victorian features and

modern design capabilities.

Extensive views overlooking the park.

Potential for a wide variety of uses including hotel, residential and offices subject to planning.

The site offers potential for a significant refurbishment

and extension to the rear subject to planning.

High growth sub-market with significant development and investment projects taking place

within the immediate vicinity.

18 Victoria Park Sq

Development Potential

Potential to extend

2

3

Exciting opportunity to restore characterful building with the ability to create modern 21st century contemporary building to the rear.

1 Exterior facing Museum Gardens

2 Rear of building

3 Ground floor interior space

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1-3 Barnsbury Square N1

Date: Q4 2020Size: 9,316 sq ftRent: £30.70 per sq ftPP: £6,150,000Cap Val: £660 per sq ft

2-16 Bayford Street E8

Date: Q4 2020Size: 14,802 sq ftRent: -PP: £6,600,000Cap Val: £581 per sq ft

16 Prescott Street E1

Date: Q1 2020Size: 8,772 sq ftRent: -PP: £4,950,000Cap Val: £564 per sq ft

469 Bethnal Green Road E2

Date: Q4 2019Size: 10,014 sq ftRent: -PP: £5,100,000Cap Val: £509 per sq ft

Canal Place 1-3 Sheep Lane E8

Date: Q1 2021Size: 2,110 sq ftRent: £30.70 per sq ftTerm: 10 yearsFloor: 1stTenant: Yeast Bakery Ltd

Cost effective and in demand

Occupier demand in 2021 has significantly increased with businesses across the City Fringe restarting their office searches.

Demand has been primarily driven by the Tech, Media and Creative industries who are craving a return to the office.

Covid-19 has created a two tier market, with tenants demanding cost effective high quality accommodation. This requirement has led to an increase in demand for Grade A office

accommodation in outer core locations with excellent connectivity such as Bethnal Green. However, supply continues to be constrained with a very limited development pipeline over the course of 2021 & 2022.

Non-core locations such as Bethnal Green continue to outperform core locations with occupier demand increasing for cost effective high specification accommodation with excellent local amenities situated in close proximity to major business districts such as the City of London & Shoreditch.

2 Hillman StreetE8

Date: Q1 2021Size: 29,534 sq ftRent: £28.00 per sq ftTerm: 5 yearsFloor: Ground-4th floorTenant: Dept. Work & Pensions

84 Teesdale Street E2

Date: Q3 2020Size: 764 sq ftRent: £36.00 per sq ftTerm: 3 year leaseFloor: 2ndTenant: The Art of Football

Long Street Studios 5-9 Long Street EC2

Date: Q3 2020Size: 1,008 sq ftRent: £50.00 per sq ftTerm: 3 yearsFloor: GroundTenant: Social Blue

Occupational Evidence

Investment Market

18 Victoria Park Sq

Office & Residential Markets

Flat 28 Mulberry House Victoria Park Square E2

Date: Q4 2020Size: 639 sq ftPP: £595,000Cap Val: £929 per sq ft

Flat 27 Minstrel Court Teesdale Close E2

Date: Q4 2020Size: 760 sq ftPP: £580,000Cap Val: £763 per sq ft

Bethnal Green is one of East London’s most popular residential areas and continues to see a steady increase in residential values.

Fuelled by young professionals, first time buyers and local families who are drawn to the area by the excellent connectivity into Central London and abundance of amenities. Average sold house prices within Bethnal Green have seen a 9.24% increase over the past 5 years. Existing flat’s within the immediate area have averaged £800 per sq ft+ when sold in recent years with new build and converted properties exceeding £900 per sq ft+.

A great place for young buyers

Flat 42 Dinmont House Pritchard Road E2

Date: Q2 2021Size: 495 sq ftPP: £360,000Cap Val: £727 per sq ft

Residential Transactions

2 Ainsley Street E2

Date: Q2 2020Size: 720 sq ftPP: £560,000Cap Val: £778 per sq ft

27 Wood Close E2

Date: Q1 2021Size: 631 sq ftPP: £610,000Cap Val: £966 per sq ft

6 Sugar Loaf Walk E2

Date: Q4 2020Size: 638 sq ftPP: £492,000Cap Val: £771 per sq ft

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Pricing

Offers are invited in excess of £4,950,000 subject to contract and exclusive of VAT. This reflects a low capital value of £426 per sq ft.

Compton and Kingsbury Consultants give notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Compton or Kingsbury Consultants has any authority to make any representation or warranty whatsoever in relation to this property. April 2021.

Designed and produced by Cre8te - 020 3468 5760 - cre8te.london

Julian Meir 07956 949 604 jdm@compton.london

Shaun Simons 07788 423 131 ss@compton.london

Jordan Oldfield 07736 177 891 jordan.oldfield@kingsbury-consultants.co.uk

Chris Incledon 07787 130 719 chris.incledon@kingsbury-consultants.co.uk

Tenure

The property is held freehold under title number’s NGL196034 & 257747.

Contact

Planning

The front building is Grade II* listed. The rear building is not listed. The property is located within the Bethnal Green Gardens Conservation Area.

EPC

A copy of the EPC is available upon request.

VAT

The property is elected for VAT.

Further Information