london land track record 2016/17 - knight frank · 2016/2017 was an impressive year for the knight...

LONDON LAND TRACK RECORD 2016/17GREATER LONDON

3London Land Track Record 2016/17 |

2016/2017 was an impressive financial year for the Knight Frank Residential Development London Land teams despite a backdrop of unprecedented political and economic uncertainty.

Unexpected results in both the EU Referendum and the US election fuelled speculation of a volatile time ahead. This coupled with pricing corrections across the Central London markets and a tightening funding environment all pointed to materially reduced volumes of deals. Developers have certainly “tightened” their

belts and have become more circumspect when analysing opportunities. However, when they see value they continue to commit.

Signs of stability returned to the residential market in the final quarter of 2016 and appear to be enduring into 2017. Lower pricing and a weakened pound have spurred both UK and international buyers into action and developers to adopt a more optimistic view of the London residential market.

Developers have continued to focus on Zones 2 to 6 and beyond where demand is typically stronger for less expensive units and where there is greater potential for growth. However, we have also completed a number of transactions in Central London where there is renewed appetite for assets that are realistically priced. With Zone 1 prices now at a more rational level, we believe it is an opportune time to buy land in this area given the limited supply forecast over the next 2 to 3 years.

We hope that our track record provides an insight into our capabilities and how we can be of assistance with any prospective land opportunities. Please feel free to contact any member of the relevant Knight Frank teams.

Ian Marris Joint Head of Residential Development

Justin Gaze Joint Head of Residential Development

2016/2017 was an impressive

year for the Knight Frank London Land teams

£1.6 billion in land transacted

54 deals across Greater London

Transaction Value

<£10 million

£10 to £25 million

>£75 million

TFL Travel Zones

L&G Campus St Monica’s Road, Kingswood, KT20

Justin Gaze Joint Head of Residential Development +44 20 7861 5407 justin.gaze@knightfrank.com

Nick Alderman Residential Consultancy +44 20 7861 5408 nick.alderman@knightfrank.com

Description 43 acre site with significant residential redevelopment potential. The property comprises an office building, training centre and sports facilities extending to a total of 380,966 sq ft GIA within extensive landscaped grounds.

Price £65,000,000

Vendor KPMG (receivers)

Deal Type Sale

Purchaser L&G

Computer generated images for indicative purposes only

De Burgh GardensTadworth, Surrey, KT20

Daniel Ward Residential Land Agency +44 20 7861 5432 daniel.ward@knightfrank.com

Description 15 acre greenfield site comprising two adjacent sites which benefited from resolutions to grant outline planning permission for a combined scheme of 186 dwellings.

Price £25,510,000

Vendor Surrey County Council / Reigate & Banstead Council

Deal Type Sale

Purchaser London Square

As a public body we require the highest professional standards from our agents. Knight Frank are pre-eminent in this regard and the sale of De Burgh Gardens is evidence of this. Their thorough approach to marketing gave us complete confidence and they achieved an excellent level... They then provided a seamless service during contract negotiations... Peter Hall, Surrey County Council

Bibendum 113 Regents Park Road, Primrose Hill, NW1

Description Iconic building with residential development potential. Let to a commercial tenant with prior approval for conversion to 8 private lateral apartments with a total NSA of 7,697 sq ft.

Price £12,000,000

Vendor 113 Regents Park Road Ltd

Deal Type Sale

Purchaser Private Trust

Knight Frank’s excellent understanding of the local market and ability to provide a quality service has been absolutely first class. Even with the uncertainty caused by the EU referendum, Knight Frank managed to surpass our expectations on both the price achievable and speed of the transaction. Stephen Moss, Principal shareholder

Notting Hill Gate66-74 Notting Hill Gate, Notting Hill, W11

Anthony Kazan Residential Consultancy +44 20 7861 1286 anthony.kazan@knightfrank.com

Description 4 interconnected buildings above Notting Hill Gate Underground Station with mixed use commercial and residential units above 4 retail units. Planning permission for conversion of the upper parts into 19 private residential units (14,879 sq ft NSA) and a reconfiguration of the retail space across ground and basement (9,031 sq ft GIA).

Price £11,528,348

Vendor Princeton Investments & Enstar Capital

Deal Type Sale

Purchaser London Heritage Fund

Huntsworth Mews6-20 Huntsworth Mews, Marylebone, NW1

Description 2 self-contained, interconnected office buildings extending to 10,725 GIA / 7,596 sq ft NIA, with the potential for immediate occupation or refurbishment. The property qualifies for residential conversion via Permitted Development Rights.

Price £7,000,000

Vendor Private Individual

Deal Type Sale

Purchaser Commercial Owner Occupier

Millbrook ParkPhase 5 Millbrook Park, Mill Hill, NW7

Jason Hobbs Residential Land Agency +44 20 7861 5417 jason.hobbs@knightfrank.com

Description 3.16 acre site with planning permission for 144 units. This latest land parcel forms part of a larger redevelopment site with planning permission for a total of 2,240 units and commercial space.

Price £22,000,000

Vendor Inglis Consortium LLP

Deal Type Sale

Purchaser Joseph Homes

Boat Race House61-67 High Street, Mortlake, SW14

Alexander Lewis Residential Consultancy +44 20 7861 5480alexander.lewis@knightfrank.com

Description Purpose-built office building with internal parking at ground floor level and two self-contained, commercial units. Prior approval for conversion to residential use via Permitted Development Rights with planning permission submitted for a roof extension.

Price £9,265,000

Deal Type Sale

Purchaser Residential Developer

Jason Hobbs Residential Land Agency +44 20 7861 5417 jason.hobbs@knightfrank.com

Lords View OneSt John’s Wood Road, St John’s Wood, NW8

Description Sale of rooftop space above a sought after apartment block in St John’s Wood with development potential for 4 duplex apartments overlooking Lord’s Cricket Ground.

Price £3,500,000

Vendor Lords View One Properties

Deal Type Sale

Purchaser Imperial Penthouse

Putney High Street56-70 Putney High Street, Putney, SW15

Charles DugdaleResidential Land Agency +44 20 7861 5411 charles.dugdale@knightfrank.com

Oliver Holland Residential Land Agency +44 20 7861 5142oliver.holland@knightfrank.com

Description Prime high street retail block with planning permission for 97 residential units providing 71,948 sq ft (NSA) of residential accommodation over five floors and 38,584 sq ft of retail and leisure floorspace.

Price £19,750,000

Vendor Land

Deal Type Sale

Purchaser Confidential

Marine Ices 4-8 Haverstock Hill, Chalk Farm, NW1

Description Landmark building with planning permission to provide 19 private lateral apartments with a total NSA of 13,724 sq ft and an 11,367 sq ft GIA retail unit.

Price £9,300,000

Vendor SRE Haverstock Hill Ltd

Deal Type Sale

Purchaser Bellis Homes

15London Land Track Record 2016/17 | 14

Charlie Hart Head of Residential Development City & East +44 20 7718 5222 charlie.hart@knightfrank.com

Fresh Wharf Fleet Road, Barking, IG11

Description JV agreement on development site with planning permission for 901 residential units.

Price £32,000,000

Vendor Countryside Properties

Deal Type Sale

Purchaser Notting Hill Housing Trust

Land at Vallance RoadVallance Road, Bethnal Green, E2

Ellie CunninghamResidential Development City & East +44 20 7718 5204 ellie.cunningham@knightfrank.com

James BartonResidential Development City & East +44 20 7718 5226james.barton@knightfrank.com

Description Advised on acquisition of a 0.96 acre site in Bethnal Green with a resolution to grant planning permission for 144 residential units.

Price £22,000,000

Vendor One20 Developments

Deal Type Acquisition

Purchaser Higgins Homes

James Barton Residential Development City & East +44 20 7718 5226 james.barton@knightfrank.com

St Edwards Court London Road, Romford, RM1

Description Acquisition of a 44,711 sq ft office building with an unexpired lease term of 2.4 years arranged across five wings with residential development potential.

Price Confidential

Vendor CBRE GI

Deal Type Acquisition

Purchaser Galliard Homes

Wakley Street7-8 Wakley Street, Islington, EC1V

Description Sale of a 0.4 acre site comprising a 21,926 sq ft office building with the benefit of planning permission for 26 residential units and c. 20,000 sq ft of B1 office accommodation.

Price £7,500,000

Vendor National Children Bureau

Deal Type Sale

Tom Scaife Institutional Consultancy +44 20 7861 5429 tom.scaife@knightfrank.com

Hewer Street & Exmoor Street15-17 Hewer Street & 7 Exmoor Street, North Kensington, W10

Description 0.2 acre site with full planning consent for16 private residential flats and a studio officeextending to 11,564 sq ft NSA.

Price £8,650,000

Vendor Uplift Property

Deal Type Sale

Purchaser Royal Borough of Kensington & Chelsea

Old Rex Cinema281-285 Bethnal Green Road, Bethnal Green, E2

Description Former cinema on a 0.2 acre site with full planning consent for 21 residential flats extending to 16,808 sq ft NSA and 1,405 sq ft NIA of commercial space.

Price £5,500,000

Vendor Uplift Property

Deal Type Sale

Purchaser Southern Grove

Avonmore Road6 Avonmore Road, West Kensington, W14

Description Sale of a residential and office block with detailed planning permission for conversion into 15 residential flats and development of 5 new mews houses with c. 33,000 sq ft GIA.

Price £18,750,000

Vendor Confidential

Deal Type Sale

Purchaser Private European Fund

Dandara Dandara Ground Rents

Description Ground rent investment of c. 1,800 residential units.

Price £20,000,000

Vendor Dandara

Deal Type Sale

Purchaser Aviva

Guy Stebbings Residential Development Capital Markets +44 20 7861 5413 guy.stebbings@knightfrank.com

Royal Wharf Royal Wharf Blocks 1 and 3, Silvertown, E16

Description Forward funding transaction of Plots 1 & 3 Royal Wharf.

Price £100,000,000

Vendor Mountain Capital Limited

Deal Type Forward Fund

Purchaser London and Quadrant Housing Trust

Chris Duggan Residential Development Capital Markets +44 20 3826 0641chris.duggan@knightfrank.com

James Mannix Head of Residential Capital Markets +44 20 7861 5412james.mannix@knightfrank.com

Royal Wharf Royal Wharf Blocks 20 and 24, Silvertown, E16

Description Forward commitment transaction of Plots 20 and 24 located within Phase 3.

Price £100,000,000

Vendor Ballymore Group

Deal Type Forward Fund

Purchaser Notting Hill Housing Trust

Chris Duggan Residential Development Capital Markets +44 20 3826 0641chris.duggan@knightfrank.com

James Mannix Head of Residential Capital Markets +44 20 7861 5412james.mannix@knightfrank.com

Chiltern Street73, 75, 77 Chiltern Street, Marylebone, W1U

Description Sale of the freehold interest in 73, 75 and 77 Chiltern Street comprising 9 self-contained apartments.

Price £6,450,000

Vendor Osborne Properties Ltd

Deal Type Sale

Purchaser Private Individual

James Cooper Residential Development Capital Markets +44 20 3826 0648 james.cooper@knightfrank.com

Cornwall MansionsBlythe Road, West Kensington, W14

Description Sale of the freehold interest in Cornwall Mansions comprising 13 self-contained apartments.

Price £3,750,000

Vendor Vail Williams

Deal Type Sale

Purchaser Akelius

James Cooper Residential Development Capital Markets +44 20 3826 0648 james.cooper@knightfrank.com

Queensborough Terrace12 Queensborough Terrace, Bayswater, W2

Description Sale of the freehold interest in 12 Queensborough Terrace, an HMO comprising 22 self-contained residential units.

Price £5,350,000

Vendor Elmstone Limited

Deal Type Sale

Wyndham Street26 Wyndham Street, Marylebone, W1H

Description Sale of the freehold interest in 26 Wyndham Street comprising 5 self-contained apartments.

Price c.£2,650,000

Deal Type Sale

Purchaser Panorama Property Investments LLP

Harrison Collins Residential Development Capital Markets +44 20 3897 0049harrison.collins@knightfrank.com

Nick Pleydell-Bouverie Residential Development Capital Markets +44 20 7861 5256 nick.pleydell-bouverie@knightfrank.com

Luke House3 Abbey Orchard Street, Westminster, SW1P

Description Sale of the freehold interest in 3-4 Abbey Orchard Street comprising 30 self-contained apartments and c. 37,000 sq ft of office space.

Price £47,150,000

Vendor Sancarin S.L.

Deal Type Sale

Purchaser Prime London Ventures Limited

Enderby Wharf Christchurch Way, Greenwich, London SE10

Description Forward funding transaction of Block C comprising 73 residential units.

Price £34,500,000

Vendor Morgan Stanley & Co. International plc

Deal Type Sale

Purchaser London and Quadrant Housing Trust

Amelia Merrick Residential Development Capital Markets +44 20 7861 5343 amelia.merrick@knightfrank

3130 London Land Track Record 2016/17 |

Albemarle Street14 Albemarle Street, Mayfair, W1S

Description Sale of the freehold interest in 14 Albemarle Street comprising 8 self-contained apartments arranged above 1 ground floor retail unit.

Price £21,100,000

Vendor The Conduit Mead Company Limited

Deal Type Sale

Purchaser Private Individual

Contacts

Ian Marris Joint Head of Residential Development +44 20 7861 5404ian.marris@knightfrank.com

James Mannix Head of Residential Capital Markets +44 20 7861 5412 james.mannix@knightfrank.com

Justin Gaze Joint Head of Residential Development +44 20 7861 5407 justin.gaze@knightfrank.com

Emma Cleugh Head of Institutional Consultancy +44 20 7861 5427 emma.cleugh@knightfrank.com

Charlie Hart Head of Residential Development City & East +44 20 7718 5222 charlie.hart@knightfrank.com

Knight Frank Global Headquarters 55 Baker Street London W1U 8AN United Kingdom +44 20 7629 8171

Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names.

@KnightFrankKnightFrank.co.uk

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