prime london suburb freehold property with a1/a3 planning ... · benefit of a current a1/a3...

Prime London Suburb Freehold Property with A1/A3 planning consentFor sale with full vacant possession

PRIME TRADING LOCATION ON GEORGE STREET OPPOSITE THE SOON TO BE DEVELOPED HOUSE OF FRASER DEPARTMENT STORE

INVESTMENTSUMMARY

Richmond lies just 9 miles south west of Central London and is one of London’s most popular and prosperous boroughs offering a blend of urban and rural qualities in a major capital city.

Affluent borough population of approximately 196,000 people.

Thriving residential and tourist location served by National Rail and London Underground.

4.5m visitors to Richmond every year.

Freehold.

Benefit of a current A1/A3 planning consent.

Prime trading location on George Street adjacent to Marks & Spencer, whilst in close proximity to Anthropologie, Jo Malone, Molton Brown and the House of Fraser department store which will be redeveloped into 22,000 sq ft of prime retail and 42,000 sq ft of grade A office accommodation.

Potential to convert upper floor to residential and increase massing, subject to planning.

Our clients are seeking offers in excess of £2,000,000 (Two Million Pounds) subject to contract and exclusive of VAT, which reflects a capital value of £321 per sq ft.

GEORGE STREET, RICHMOND, TW9 1JY

RICHMONDGREEN

KING STREET

HILL STREET A307

RED LION STREET A307

GEORGE STREET A305

LOCATIONRichmond sits within the London Borough of Richmond upon Thames, located approximately 9 miles (14.5 km) to the south west of Central London. Richmond has excellent communication links, positioned within close proximity of Junction 1 of both the M4 to the north east and the M3 to the south west. These readily accessible motorways provide access to the M25 to the west. The town is served by a mainline railway station, with a fastest journey time to London (Waterloo) station of approximately 20 minutes. Richmond station is also serviced by the London Underground District Line. Heathrow Airport is within 11 miles of Richmond, serving a wide variety of both domestic and international destinations.

A205

Upper Richmond Rd A205

A3

A3

Kingst

onRd

RobinHoo

dWay

A3 A24

A24

Chertsey

RdA316

Twickenham Rd

A316

A316

A4

A4A214

A4

M4

A4

RIVER

TH

AMES

RichmondPark

HamptonCourt Park

Bushy Park

Royal Botanic Gardens

Kew

GunnerburyPark

WWT London Wetland

Centre

Wimbledon & Putney Commons

RoyalWimbledon

Golf Club

Wimbledon Park

RICHMOND

FULHAM

WIMBLEDONKINGSTON

UPON THAMES


DEMOGRAPHICSThe London Borough of Richmond has a population of 196,000 persons (GLA 2015) and a compact primary catchment population of circa 106,000 which is supplemented by a thriving tourist industry, attracted by the shopping and bars, Richmond Park and the River Thames.

Experian categorise 46.25% of the population (within the 15-minute drive-time) as being within the City Prosperity Mosaic grouping suggesting ‘high status city dwellers living in central location pursuing high reward careers’.

The Richmond office sector is focused on media, technology and financial services. Ebay, Paypal, Gumtree and Graze are represented, earning the town the nickname, ‘Silicon on Thames’. RBS, British American Tobacco, Philip Morris & Company, Serco and GSA Capital are also major employers in the borough, while GlaxoSmithKline, BskyB and Samsung amongst others all have significant UK headquarters nearby.

Richmond was voted London’s happiest place to live for the fifth year running by the Evening Standard Homes & Property 2019.


RETAILING IN RICHMONDRichmond is a busy and affluent commercial business centre with a unique national and independent retail offering.

The prime retailing thoroughfare is located along the length of George Street and part of lower George Street, where major occupiers include Whole Foods, Marks & Spencer, Waterstone’s, H&M, Anthropologie, Zara Home, Ole & Steen and Tesco. The House of Fraser department store will close in September and will be remodelled by Canadian & Portland into a mixed use development with 22,000 sq ft of prime retail/leisure on the ground floor and basement and 42,000 sq ft of office accommodation on the upper floors.

The town also has a particularly good range of quality fashion retailers including Joseph, The Kooples, Whistles, Gant, Jigsaw and Max Mara. Richmond has no managed retail floor space. The other main shopping streets in Richmond are The Quadrant and Hill Street, with the latter being primarily occupied by upmarket fashion retailers, restaurants and cafes. Richmond also benefits from a strong food and beverage provision, with representation including The Ivy, Gaucho, Franco Manca and Petersham Nurseries.


IN GOOD COMPANY.RICHMOND HAS

A SIGNIFICANTLY ABOVE AVERAGE

VOLUME AND QUALITY OF RETAIL

PROVISION.

RICHMONDGREEN

PAVED

COUR

T

GOLDEN COURT

RED LION STREET

KING STREET

GEORGE STREETHALFORD ROAD

PARADISE ROAD

WAKEFIELD ROAD

CHURCH TERRACELEWIS ROAD

ETON STREET

CASTLE YARD

WHITTAKER AVENUEOFFICE

SO BA

RVACA

NT

JEWEL

LERBR

ITANNIA

GELA

TERIA

JEWEL

LER

CHOCOLATIER

SALON

OFFICE

JEWEL

LER

DANIEL

I

HAIR-

DRES

SER

TOAST

CHOCOLATIER

ORGA

NICMIND

OFFICE

VENCHI

DWELLINGS

DWELLINGS

ST MARY MAGDALENE

CORAL

RUSSELL & BROMLEYPRET A MANGER

LEON

SANTANDER

HAIRDRESSER

THE ANGEL & CROWN

CAFE ALAMBRA

BEAUTY SALON

BOOKSHOP

GIFTSHOP

NEWBIE

BUREAU DE CHANGE

JEWELLER

CREW

KISSTHE

HIPPO COFFEE

AVED

A

NATIONWIDE

CAFE

FLORIST

JOE &THE JUICE

TRAILFINDERS

EE

BOWLEYS

BOLONGARO

TREVOR

MOOCA

COFFEE

HEROES

SURVEYORSOLICITOR

THE CRICKETERSDWELLINGS

OFFICE

OFFICE

OFFICE

OFFICE

OFFICE

OFFICE

OFFICE

OFFICE

HEALTH CENTRE

SOLICITOR

GANDYS

DAVID CLULOW

MOLTON BROWNJO MALONE

JEWELLER

GALLERY

DWELLINGS

DWELLINGS

HAIRDRESSER

CAFE

OFFICE

INTERIORS

THEPRINCE’S

HEAD

WHITE

STUFF

WATER

LILY

ITSU

OFFICE

OFFICEOFFICE

OFFICE

HAYS

OFFICE

DWELLINGS

HALL &

LA BUVETTE

DWELLINGS

DWELLINGS

KILLIK

& CO

ARTSTUDIOCHANGO

COBBLERSCAFE

JEWELLER

LULUGREYJEWELLER

AESOP

TIT FER TAT

HAIR-DRESSERSCOFFEE &

TEA SHOP

JEWELLER

CAFE

MARY’SLIVING

CAFE

NEW

STITCHES

VACANT

BEAUTY

SALON

RINCON

THAI ELEPHANT

BARBERS

HAIRDRESSERS

MAIL BOX

DRY CLEANING

RAYGUN

ESTATE AGENT

VACANT

BRIDAL SHOP

HILLTREE

BARBERS

AL BOCCONDI VINO

TASTE OF GUJARAT

MATSUBA

HEALTHCLINIC

FIRED EARTH

ESTATE AGENT

ESTATE AGENT

PATISSERIE VALERIEOFFICE

GENCOTIMPSONCARA

BEAUTY

SALON

CARDS GALORE

OFFICEESTATEAGENTS

KOOKS

TOYSTATION

ESTATE

AGENT

BEAUTY

SALON

RICHMOND SPORTS

KALL KWIK

PRT & PHCPY

OFFICE

BEAUCHAMP

VAPE SHOP

DRY CLEANING

OFFICE

HAIRDRESSER

DELI

HAIR-

DRESSER

TECHISM

FOOTSOLUTIONS

SWEATY BETTY

TANNERS

LIZARD MENSWEAR

DIVERSO MENSWEAR

VACANT

JEWELLER

ART GALLERY

URBAN DINER

ZADIG & VOLTAIRE

COTE

OFFICE

RICHMOND HILL

HEALTH CLUB

MATCHES

CURZON

OFFICE/ PIG’S EAR

NOBLE JONES

WAGAMAMA

CANCER

RESEARCH

L.K.BENNETT

DWELLINGS

WATERMAN’S

ARMS

THE OLD SHIP

ZIZZINAILED IT

IRIS

OFFICE

SPORTIN

G FEE

T

BOOK

SHOP

FISH RE

STAUR

ANTTR

ATTO

RIA

OFFIC

ENEAL

’S YARD

FEAT

HER & ST

ITCH

(To be redeveloped)

SITUATIONThe subject property is located in a prime trading location, in the central section of George Street adjacent to Marks & Spencer and opposite the proposed House of Fraser department store redevelopment.

DESCRIPTIONThe property currently comprises a retail unit arranged on ground and first floor and benefits from rear access from Red Lion Street.


ACCOMMODATIONThe property is currently arranged on ground and first floor and comprises the following approximate net internal floor areas:

Internal Width 40ft 5 inches 12.38 m

Ground Floor Sales 3,239 sq ft 300.91 sq m

Ground Floor ITZA 1,521.4 units

First Floor Ancillary 2,986 sq ft 277.40 sq m

Total 6,225 sq ft 578.31 sq m

PLANNING USEPlanning permission was granted in April 2018 for a change of use from Class A1 to flexible use within Class A1 and/or Class A3. Further details are available on request. New proposed legislation will make it easier to change land use in town centres, allowing empty shops to be converted into residential or alternative uses.

The property is situated within the Central Richmond Conservation Area.

EPCThe property has an EPC rating of D79 and further information is available from this office.


TENUREFreehold.

For further information please do not hesitate to contact:

Philip Hay BSc (Hons) MRICS020 7637 [email protected]

VATThe property is elected for VAT and VAT will be payable on the purchase price.

PROPOSALWe are instructed to seek offers in excess of £2,000,000 (Two Million Pounds) subject to contract and exclusive of VAT for the benefit of our client’s freehold interest. A purchase at this level reflects a capital value of £321 per sq ft.

Recent sales include 54 George Street which was sold in May 2019 to Dalesford Estates at a price of £5m reflecting a capital value of £623 per sq ft.

Messrs. Jackson Criss for themselves and for the vendors or lessors of this property whose agents they are to give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements of representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Messrs. Jackson Criss has any authority to make or give any representation or warranty whatever in relation to this property. 102463. Designed by TCC 07/20.

prime london suburb freehold property with a1/a3 planning ... · benefit of a current a1/a3...

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