freehold for sale · waltham forest tower hamlets pontoon dock king george v london city airport...
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FREEHOLD FOR SALE POTENTIAL REDEVELOPMENT OPPORTUNITY FOR A MIXED-USE SCHEME OF RESIDENTIAL AND COMMERCIAL USES (B1 & B8 USE CLASSES).
PLANNING ADVICE HAS BEEN SOUGHT FROM THE LOCAL AUTHORITY FOR A MIXED-USE, RESIDENTIAL-LED DEVELOPMENT TO INCLUDE 455 RESIDENTIAL UNITS AND COMMERCIAL SPACE
SITUATED ON A PROMINENT CORNER AT THE JUNCTION OF RAINHAM ROAD SOUTH, OXLOW LANE AND DAGENHAM ROAD
CURRENTLY USED AS A DISTRIBUTION CENTRE AND TRADE COUNTER WITH ASSOCIATED WAREHOUSING AND OFFICES
SITE COMPRISES 6.13 ACRES (2.48 HECTARES)
FREEHOLD FOR SALE WITH VACANT POSSESSION
UNCONDITIONAL OFFERS INVITED
OXLOW LANE
WALTZ RO
AD
MANCHESTER WAY
STERLING INDUSTRIAL ESTATE
RAINHAM ROAD SO
UTH
RAINH
AM RO
AD N
ORTH
REXEL
Site
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G R E E N W I C HG R E E N W I C H
N E W H A MN E W H A M
R E D B R I D G ER E D B R I D G E
W A LT H A MF O R E S T
W A LT H A MF O R E S T
T O W E RH A M L E T S
T O W E RH A M L E T S
PONTOON DOCK KING GEORGE V
LONDON CITY AIRPORT
ROYAL ALBERT CYPRUSBECKTON PARK
PRINCE REGENT
CUSTOM HOUSE GALLIONS REACH
BECKTON
DEPTFORD BRIDGE
GREENWICH
CUTTY SARK
ISLAND GARDENS
MUDCHUTE
CROSSHARBOUR
SOUTH QUAY
HERON QUAYSWEST SILVERTOWN
CANARY WHARF
WEST INDIA QUAY
POPLAR BLACKWALL
WESTFERRY EAST INDIA ROYAL VICTORIA
ALL SAINTS
LANGDON PARK
STAR LANE
DEVONS ROAD
BOW ROAD
BOW CHURCH
ABBEY ROAD
PUDDING MILL LANE
STRATFORD HIGH STREET
STRATFORD
WOOLWICH ARSENALWOOLWICH DOCKYARD
ABBEY WOOD
BELVEDERE
RAINHAM
DAGENHAM DOCK
WOODGRANGE PARK
WANSTEAD PARKMANOR PARK
ILFORD
SEVEN KINGS
GOODMAYES
CHADWELL HEATH
ROMFORD
NEW CROSS GATE
NEW CROSS
DEPTFORD
MAZE HILL
WESTCOMBE PARK
SURREY QUAYS
FOREST GATE
LEYTONSTONE HIGH ROAD
LEYTON MIDLAND ROAD
ST JAMES STREET
WALTHAMSTOW QUEENS ROAD
WOOD STREET
HIGHAMS PARK
LIMEHOUSE
HACKNEY WICKSTRATFORD INTERNATIONAL
MARYLAND
SLADE GREEN
ERITHCHARLTON
PLUMSTEAD
UPTON PARK
EAST HAM
UPNEYBARKING
BECONTREE DAGENHAM HEATHWAY
DAGENHAM EAST
ELM PARK
WANSTEADREDBRIDGE NEWBURY PARK
GANTS HILL
BARKINGSIDE
SOUTH WOODFORD
FAIRLOP
HAINAULT
WOODFORD
GRANGE HILL
RODING VALLEY
CHIGWELL
NORTH GREENWICH
CANARY WHARF
LEYTON
LEYTONSTONE
SNARESBROOK
WALTHAMSTOW CENTRAL
CANNING TOWN
MILE ENDBROMLEY-BY-BOW
WEST HAM
PLAISTOW
Hainault Forest
Fairlop Plain
Wanstead Flats
Blackheath
GreenwichPark
HACKNEY MARSH
VICTORIA PARK
NORTH END
SLADE GREEN
UPPER BELVEDERELESSNESS HEATH
NORTHUMBERLAND HEATH
BECONTREE
BECONTREE HEATH
RUSH GREEN
SOUTH HORNCHURCH
ELM PARK
HEATH PARK
CHADWELL HEATH
MARKS GATE
RISE PARK
COLLIER ROW
CHASE CROSS
SHOOTERS HILL EAST WICKHAM
WEST HEATHBOSTALL WOODSPLUMSTEAD COMMON
PLUMSTEAD
BOSTALL HEATHLESNES ABBEY
ABBEY WOOD
WEST THAMESMEAD
THAMESMEAD
CREEKMOUTH
BARKING RIVERSIDE
LOXFORD
CHINGFORD HATCH
WOODFORD WELLS
WOODFORD GREEN
WOODFORD BRIDGE
REPTON PARK
FULLWELL CROSS
GRANGE HILL
FAIRLOP
HAINAULT
SNARESBROOK
SOUTH WOODFORD
ALDERSBROOK
REDBRIDGE
MANOR PARK
CLAYHALL
CRANBROOK
GANTS HILL
BARKINGSIDE
NEWBURY PARK
SEVEN KINGS
ALDBOROUGH HATCH
GOODMAYES
LITTLE HEATH
CHARLTON
NEW CHARLTON
ROYAL ARSENAL WEST
SILVERTOWN
NORTH GREENWICH
NORTH WOOLWICH
BLACKWALL
CYPRUSCUSTOM HOUSE
CANNING TOWN
BECKTON
PLAISTOW
WALLENDUPTON PARK
UPTON
PLASHET
FOREST GATE
LITTLE ILFORD
NEW CROSS
MARKETSPITALFIELDS
NEW
LEYTONSTONE
UPPER WALTHAMSTOW
HIGHAM HILL
WALTHAMFOREST
HALE END
HIGHAMS PARK
CUBITT TOWNMILLWALL
ROTHERHITHE
RATCLIFF LIMEHOUSE
BOW COMMON
BROMLEY
MILL MEADS
CLAPTON PARK
OLD FORD STRATFORD MARSH
STRATFORD NEW TOWN
RAINHAM
BARKING
ROMFORD
WOOLWICH
WOODFORD
WANSTEAD
DEPTFORD
ILFORD
WEST HAM
GREENWICH
WALTHAMSTOW
BOW
POPLAR
ISLE OF DOGS
DAGENHAM
ERITH
STRATFORD
EAST HAM
LEYTON
BALLARDS ROAD
LOWER ROAD
LARKSHALL ROAD
WIN
CHES
TER
ROAD
FRIDAY HILL
ORA
NG
E TR
EE H
ILL
HAVE
RING ROAD
COLLIER ROW ROAD
LAMBOURNE ROAD
MANOR ROAD
BILLET ROAD
FULBOURN
E ROAD
GO
OD
MAY
ES LA
NE
BENNETT'S CASTLE LANE
ROMFORD ROAD
CHASE CROSS ROAD
COLLIER RO
W LAN
E
ABBOTT ROAD
ROTHERHITHE
REDRIFF ROAD
PLOUGH WAY
GRO
VE STREET
WICK ROAD
ST PAUL'S WAY
BEN JONSON ROAD
HOMERTON ROAD
PRINCE O
F WALES ROAD
PICA
RDY
MAN
ORW
AY
ABBEY ROAD
MCLEOD ROAD
RANCLIFFE ROAD
EAST AVENUE
CENTR A L PARK ROAD
KATHERINE ROAD
BROW
NING ROAD
BARL
EY L
ANE
BEEHIVE LANE
LITTLE
HEATH
HILLREACH
GREEN STREET
PLASHET GROVE
PLASHET ROADPORTWAY
BALA
AM
STR
EET
WO
OD STREET
CHARLTON
VANBRUGH PARK
CHARLTON WAY
DAMES ROAD
HARROW ROAD HARROW ROAD
CATHALL ROAD
FRANCIS ROAD
VICARA
GE
LANE
PARNELL ROAD
OLD FORD ROAD
ROMAN ROAD
NO
RMAN R
OAD
HYDE VALE
MAL
PAS R
OAD
TRUNDLEY'S ROAD
SANFO
RD
LEWISHAM WAY
A2
A12
A13
A117
A117
NORTH CIRCULAR RO
AD
ACAD
EMY
ROAD
EAST CROSS ROUTE
A12
A406
A406
A406
FOREST ROAD
A503
BLACKHEATH HILL
A2209
HIGH STREET
BOW ROAD
A112
BLAC
KWAL
L LA
NE
A102
LOWER LEA CROSSING
SILVERTOWN W
AY
NEWHAM WAY
A13
A102
0
ROYAL ALBERT WAY
NEWHAM WAY
WOOLWICH CHURCH STREET
WOOLWICH ROAD
A206
EASTERN AVENUE
WO
ODFORD AVENUE
A1400
CRAN
BROOK ROAD
A123
A12
LONGBRIDGE ROAD
A124
ILFORD HILL
NORTH CIRCULAR ROAD
A406
ABBEY ROAD
NO
RTHERN RELIEF ROAD
HIGH
STREET SOUTH
A117
ROYA
L DO
CKS
ROAD
A1020
BERESFORD STREETPLUMSTEAD ROAD
WESTERN WAY
CENTRAL WAY
A204
1
CARLYLE ROAD
A2041
A13
RIPPLE ROAD
A124
EASTERN WAYA2016
EASTERN WAY
A2016
CHOATS MANOR WAY
A13
BRONZE AGE WAY
A2016
MAR
SH W
AY
DAGENHAM ROAD
NEW ROAD
A1306
QUEENS ROADN
ORTH
END
ROAD
A206
A1251
ROM VALLEY WAY
A125
EASTERN AVENUE EAST
A118
A2041
EAST CROSS ROUTE
RUCKHOLT ROAD
A106
BURDETT RO
AD
BLACKWALL TUNN
EL NO
RTHERN
APPROACH
RAINHAM ROAD NO
RTH
WHALEBO
NE LANE SOUTH
NORTH CIRCULAR ROAD
WALTHAMSTO
W AVEN
UE (NORTH CIRCULAR ROAD)
A406
ROMFORD ROAD
A1112
EASTERN AVENUEA12 EASTERN AVENUE WEST
A12
A1251
SOUTHEND ROAD
WO
OD
FORD
NEW
RO
AD
A104
HIGH
RO
AD W
OO
DFO
RD G
REEN
HO
E STREET
A112
A103
7
A1009
OLD
CH
URC
H RO
AD
NEW ROADA1009
A112
A112
MARKH
OU
SE ROAD
A1006
CHURCH RO
A D
A1006
BLACKHORSE R
OAD
A406
HALL
LANE
A1009
CHINGFORD LANE
A1009
HIGH RO
AD
WO
OD
FORD
RO
AD
A119
9
CHIGW
ELL R
OAD
A113
BROADMEAD ROAD
A1009
CHIG
WELL ROAD
CHIGWELL ROAD
HIGH
STRE
ET
WH
ALEB
ON
E LA
NE N
ORT
H
A1112
HAINAULT ROAD
HIGH ROAD
A118
GREEN LANE
GREEN LANE
A1083
WOOD LANE
LONDON ROAD
A118
FENCEPIECE ROAD
A123
WESTFER
RY ROAD
PRES
TON'
S RO
AD
MANCHESTER ROAD
EVELYN STREET
A200
HOMERTON HIGH STREET
CASSLAND ROADA106
VICTORIA PARK ROAD
LEA BRIDGE ROAD
A104
EASTWAY
KNEE HILL
ERITH ROAD
A206
WOOLWIC
H ROAD
A206
DOVER ROAD / SHOOTERS HILL
SHOOTERS HILL ROAD
A207
HORNCHURCH ROADA124
UPPER RAINHAM ROAD
A125
MAIN ROAD
NORTH STREET
A125
RUSH GREEN ROAD
A124
WOOD LANE
A1112
FRASER ROAD
BEXL
EY R
OAD
A220
RAIN
HAM
RO
AD
RAINHAM R
OAD
A125
HEATH
WAY
A1240
A1306
HARRO
W M
ANO
R WAY
PLUMSTEAD HIGH STREETA206
BOSTALL HILLWIC
KHAM LANE
A209
UPPE
R W
ICKH
AM L
ANE
PORTERS AVENUE
A1153
A13
LODG
E AV
ENUE
A1153
RIPPLE ROAD
A123
A123
ALFRED'S WAY (EAST HAM AND BARKING BY-PASS)
A205
BARKING ROAD
A124
A117
ILFORD LANE
A123
A124
A117
ROMFORD ROAD
A118
FOREST DRIVE
HIGH STREET N
ORTH
CRANBROO
K ROAD
A13
ALBERT ROADA112
A112
PRINCE REG
ENT LAN
E
UPTO
N L
ANE
A114
A114
HIGH STREET
A112
A112
BLAKE HALL RO
ADA114
ALDERSBROOK ROAD
A116
HERM
ON H
ILL
A113
HOLLYBUSH
HILL
WHIPPS CROSS ROAD
A114
A106
A104
LEA BRIDGE ROAD
WOOLWICH ROAD
TRAFALGAR ROAD
A206
CREEK ROAD
CEN
TRE
ROAD
A114
A112
GROVE GREEN ROAD
A106
HIGH RO
AD LEYTON
A118
LEYTON ROAD
A11
GRO
VE ROAD
MANOR RO
AD
A406
A406
A102
A12
A12
A12
A12
A102
M11
REEDLE LANE
OXLOW L ANE
RAINHAM ROAD SO
UTH
REXEL
LOCATION The site occupies a prominent corner at the junction of Rainham Road South, Oxlow Lane and Dagenham Road, the site is on the north-western edge of the Sterling and Wantz Industrial Estate within the London Borough of Barking and Dagenham. Oxlow Lane and Dagenham Road form an east-west route connecting Beacontree and Romford. Rainham Road North and Rainham Road South are busier distributor roads connecting Goodmayes and Chadwell Heath to the north and South Hornchurch and Rainham to the south.
There are a number of schools within a mile of the site including Eastbrook School, Trinity School and Richard Albion School as well as Barking and Dagenham College. A number of leisure facilities and green spaces are located nearby. A football ground, cricket club and a sports and social club are located within a 10-minute walk. Nearby green spaces are similarly close by offering parks, nature reserves and lakes for local residents.
DESCRIPTION The existing buildings on site are separated into two distinct footprints. On the southern boundary, the linear warehousing is terminated at the east with a three storey office building and returns to the west, increasing to 5-6 storeys and providing two levels of warehousing. The building to the northern boundary is used as warehousing with office space arranged over two floors. The total site area is 6.13 acres (2.48 ha).
The site is well served by public transport with excellent connections via bus and tube. Dagenham East Underground Station is located to the south of the site, providing District Line services into Central London. Bus services on Rainham Road and Dagenham Road are served by the 103 and 364 services.
DISTANCES
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WEST HAM
21MINS
BARKING
10MINS
VICTORIA
49MINS
BLACKFRIARS
43MINS
MONUMENT
36MINS
DAGENHAM EAST
0MINS
12 M
INSREXEL
UPMISTER
9MINS
RESIDENTIALLand in the outer London Boroughs has been increasingly in demand as pressure to deliver London Housing under the Mayors London Plan targets. Those London Boroughs with improving infrastructure, transport links and major regeneration areas have been the focal point in terms of meeting these targets. More than 35,000 new homes are proposed to be built in the borough over the next 20 years, which in turn will create high-value opportunities in the retail and leisure sectors. Population growth through new housing and a rising birth rate, as well as an increasingly diverse population, bring new opportunities for markets and a built-in opportunity for real sales growth.
Barking and Dagenham offers some of London’s most affordable brownfield development sites, as well as highly competitive office, retail, industrial and commercial space. Major investment is already flowing into the borough with major development schemes such as; Barking Riverside (10,000+ new homes and services), Beam Park (3,000 new homes and 1,000 new jobs) and
Chadwell Heath (new Crossrail station and 3,000+ new homes). Dagenham has seen house price growth of 15% over the last 24 months, with average apartment values £25,000+ above the national average.
INDUSTRIALThe logistics market is inevitably moving towards a new norm in terms of speed of delivery as consumers increasingly require shorter delivery time, immediacy, or even bespoke delivery slots when purchasing online. A combination of factors including population growth, urbanisation, higher density living and further growth in e-commerce, will create extra demand for last-mile logistics units, particularly in locations in, and around the M25 motorway.
The Barking and Dagenham market, however, saw a drop in demand in 2018 to a total of 162,000 sq ft take-up versus the circa 340,000 sq ft transacted in 2017. Rather than a slowdown in occupier appetite for the area, the lack of available units in the market is believed to have hampered activity as occupiers were left with very limited, if not any, options to fulfil requirements. In fact, as of the end of December 2018, Barking and Dagenham market had a vacancy rate of 2.8%, drastically down from the previous peak of 13.5% in 2012.
MARKET COMMENTARY
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PLANNING Local Authority support in principle following pre-application advice for a mixed-use, residential-led development including 455 residential units and associated commercial uses.
The site forms part of a wider area that is designated as a Locally Significant Industrial Site (LSIS). The northern edge of the site is subject to a Tree Preservation Order, and the site is adjacent to the Eastbrook Neighbourhood Centre.
As the site is used predominantly for warehousing, with a small element of the site being used as an ancillary trade counter, it is considered to fall within Class B8 of the Town and Country (Use Classes) Order 1987 (as amended). It is therefore understood to be within a lawful “storage and distribution” use.
PRINCIPLE OF POTENTIAL USE The Council’s Core Strategy makes clear at Policy EC3 that the partial release of sites within a designated Locally Significant Industrial Site will be considered acceptable where it can be demonstrated that the remaining part of the designated site will be more intensively developed to ensure no net loss of employment provided.
The proposed scheme has also had regard to the proposed policies relating to industrial land in the new draft of the London Plan.
Supporting the viability of the scheme, whilst also contributing to another Borough priority, the proposals incorporate a range of new market and affordable homes. The exact amount of market and affordable housing proposed would be agreed subject to detailed financial modelling of the scheme for which permission was sought.
SCALE & HEIGHT The site offers significant potential for increased height where this relates effectively to the street. The wider area also includes a number of medium-rise buildings with large footprints.
PROPOSED DEVELOPMENT
TOTAL RESIDENTIAL UNITS1B2P 159 50m2 35%
2B3P 69 63m2 15%
2B4P 159 70m2 35%
3B5P 68 86m2 15%
455 100%AREA
Gross Residential Area 36,892m2 (382,188ft2)
Net Residential Area 29,279m2 (315,159ft2)
Residential Net to Gross 79%
COMMERCIALLight Industrial 7,000m2 (75,347ft2)
B8 Storage 7,700m2 (82,822ft2)
B1 Office (Excluding Parking) 7,000m2 (75,347ft2)
Total 21,700m2 (233,577ft2)
PARKINGPTAL Rating 3
Residential Disabled Parking 49
Total Residential Parking
261 (57%)
B1 Space Parking 21
B8 Storage Parking 17
Light Industrial Parking 52
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DISCLAIMER: Colliers International gives 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 Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. (05/19). Colliers International is the licensed trading name of Colliers International Business Space UK LLP which is a limited liability partnership registered in England and Wales with registered number OC391631. Our registered office is at 50 George Street, London W1U 7GA.
FURTHER INFORMATION An information pack has been prepared as part of this sale to include but not limited to; title information, historic planning pack, updated planning note and surveys. All details can be accessed from the dataroom www.rexelRM10.com
METHOD OF SALE The subject property is for sale via informal tender with a bid date to be announced by sole agents Colliers International in due course.
The Vendor has requested that all offers are unconditional of planning and the Vendor is not bound to accept the highest and/or any offer.
TENURE Freehold with delayed Vacant Possession.
GUIDE PRICE Offers in excess of £18,000,000.
VAT VAT will be chargeable on the purchase price at the prevailing rate.
VIEWINGS ARE AVAILABLE STRICTLY BY PRIOR APPOINTMENT THROUGH SOLE AGENTS COLLIERS INTERNATIONAL.For any additional information on this sale please speak to one of the following in the Colliers Residential Development department;
ANDREW WHITEResidential Development020 7344 [email protected]
JAMES BURKEResidential Development020 7344 [email protected]
MEGAN ORRResidential Development020 7344 [email protected]
AKHTAR ALIBHAIIndustrial and Logistics020 7344 [email protected]
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