Greater London
Development

Status
Acquired from Delancey

Client
R&F Properties

Size
5.5 acres

CBRE was appointed by R&F Properties to manage the acquisition of the 5.5-acre Queen’s Square development in Croydon. As this was an on-market acquisition and the client was a new entrant developer from China, the challenges were immense. CBRE’s London network and the team’s China desk proved invaluable in identifying and successfully securing the site for £59m. The team managed the full scope of work from a compulsory purchase order advisory role to planning and development consultancy - which included financial modeling, residential sales and marketing advice. Development works are scheduled to start late in 2017 for the scheme, which will comprise approximately 1,100 residential units and 58,814 sq ft gross internal retail space.

CC Image courtesy of Matt Brown on Flickr

Status
Sold to Workspace Group

Client
Akzo Nobel Pension Fund c/o CBRE Global Investors

Size
2.9 acres

CBRE provided both planning and agency advice in regard to this residential development opportunity. The site was sold with vacant possession following the vacation of the building by Mecca Bingo. Whilst the site had residential redevelopment potential for circa 300 residential units the site was allocated as a protected employment area. Despite this CBRE prepared a robust planning case as to the potential for residential redevelopment alongside illustrative schemes prepared by Assael Architects which demonstrated a value enhancing vision for the site to the market. Through a competitive tender process the site was sold unconditionally for a figure in excess of £26m. An extremely strong result.

Status
Sold

Client
CBRE Global Investors

Size
2.27 acres

CBRE’s Greater London Land team advised Cadbury Pension Fund on the disposal of a 34,211 sq ft solus retail warehouse unit that was let to Matalan with 3.9 years to expiry. Strategically targeting the investment market with a re-gear of the existing lease and the development market with a residential mixeduse strategy, CBRE secured 30 offers - substantially exceeding Cadbury’s book value and the value of
two sales aborted prior to CBRE’s involvement. By demonstrating the potential to enhance the asset’s value, the team commanded more than £20m for the 2.27-acre site and exchanged contracts in an extremely short time period.

Status
Sold to Taylor Wimpey

Client
National Asset Management Agency

Size
2.5 acres

An unconditional deal was secured on this cleared site located next to the National Archive Office building. Although no tbenefitting from a planning permission and subject to two failed residential planning applications, the site was marketed by CBRE with the potential for a residential redevelopment. The land sold for £13.1m on an entirely unconditional basis with the deal being transacted within 10 working days.

Status
Acquired for Hub

Client
Hub

Size
0.69 acres

CBRE identified an off market opportunity for the unconditional acquisition of a distressed asset known as Chesterfield House. The largely vacant office building presented a planning opportunity to obtain planning permission for circa 250 residential units in the heart of Wembley. CBRE acted for Hub in acquiring the site off market for £10.8m.

Status
Sold to Berkeley Group

Client
Royal Mail

Size
6.0 acres

CBRE worked with Royal Mail and the local authority to create a planning case for residential development of this gateway site. Whilst a planning application was not submitted, the site was sold unconditionally to the Berkeley Group for over £11m.

Status
Acquired from Argon Capital

Client
Savills IM and Fruition Properties

Size
65,000 sq ft GIA

After introducing the opportunity, CBRE were retained by Fruition Properties and Savills IM to acquire 18-19 Crimscott Street just north of Old Kent Road. The existing buildings on site consisted of an old print-works extending to 14,000 sq ft. The property had planning permission to construct a new build office scheme rising seven storeys and measuring 52,000 sq ft NIA. Fruition Properties and Savills IM purchased the property with a view to achieving a new planning permission for a residential led redevelopment. CBRE provided both residential and commercial value advice throughout the acquisition process. CBRE also handled the negotiation on behalf of the purchaser which led to a successful conclusion and the site was acquired unconditionally for £8.5m.

Status
Sold to Bellway Homes

Client
Workspace Group

Size
1.9 acres

CBRE were instructed by Workspace Group to dispose of Lombard House, a residentially led mixed use development opportunity located within an established residential location with strong future growth potential, close to local transport and leisure amenities. The triangular shaped site measured to approximately 0.78 hectares (1.93 acres) and was offered to the market via informal tender on an unconditional basis. The brownfield site benefitted from short term income and detailed planning permission for 96 residential apartments and 2,300 sq m (25,000 sq ft) of commercial floor space. Through a detailed and competitive tender process the site was sold unconditionally to Bellway Homes for £5.7m.

Status
Sold to Angle Property

Client
Diageo

Size
0.4 acres

Diageo instructed CBRE to maximise value of this operational petrol filling station let on a long lease producing nominal income. Vacant possession was not achievable for 14 years.

CBRE identified the medium term potential for residential development and identified a Property Company to acquire the site on an unconditional basis.

The site was sold for £4.5m.

Status
Sold to S2 Estates

Client
Zurich Insurance

Size
1.6 acres

CBRE sold Zurich House a 70,000 sq ft office building in the centre of Sutton following Zurich vacating the building. No planning permission for alternative use was in place however there were, at the time, plans for a comprehensive town centre redevelopment. The site was sold to S2 Estates who purchased the building unconditionally for redevelopment purposes.

Status
Sold to Hexagon Housing

Client
MHA

Size
0.3 acres

Acting on behalf of MHA, CBRE were instructed to dispose of 634-636 Old Kent Road which was marketed with planning consent for a three to six storey building consisting of 42 residential units and 2,900 sq ft of flexible workspace. The site was sold to Hexagon Housing on an unconditional basis for £7m.