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ShoreditchEstate 

LondonE1


LondonE1 

TwoShoreditch 

ThreeShoreditch 

OneShoreditch 


EXECUTIVE Summary 

Location 

Shoreditch 

Developments 

History & Tech City 

site plan 

structure 

tenure & Tenancy 

03 

06 

10 

11 

12 

44 

46 

OneShoreditch 

Overview 

consented scheme 

description 

Specification 

Floor plans 

14 

16 

18 

20 

21 

22 

TwoShoreditch 

Overview 

existing buildings 

development 

potential 

Floor plans 

24 

26 

28 

30 

32 


Overview 

EXISTING BUILDINGS 

development 

potential 

floor plans 

34 

38 

38 

40 

42

EXECUTIVE SUMMARY 

The Shoreditch ESTaTE offers a 

rare opportunITy to purchaSE three 

Long Leasehold sites in the heart 

of Shoreditch. 

One ShoredITCh has planning conSEnt 

for a high quaLITy dEVELopment whILST 

Two and Three ShoredITCh offer 

numerous dEVELopment opporTUnITIES. 

The ESTaTE comprISES 22 properTIES 

providing a current floor area of 

18,743 sq m (201,735 sq ft) arranged 

on a total site area of 0.82 hECTarES 

(2.02 acrES). 

OneShoreditch 

1 

2 

3 

One Shoreditch comprises 0.39 hectares (0.96 acres) containing 13 properties of 

various uses and ages, the majority of which are now derelict and dilapidated. 

Full planning consent was granted on 5th October 2011 for the redevelopment of the 

site and adjoining Depot site, 10 Blossom Street to provide approximately 14,403 sq m 

(155,032 sq ft) of office and ancillary accommodation. 

Two Shoreditch comprises a triangular site of approximately 0.28 hectares (0.69 acres) 

bounded by Fleur de Lis Street, Elder Street and the railway lines to the north. The site 

contains properties totalling 4,755 sq m (51,181 sq ft) and includes a large open 

courtyard. An initial feasibility study has been undertaken showing a B1 office scheme 

of circa 8,464 sq m (91,106 sq ft NIA). 

Three Shoreditch comprises a rectangular site of approximately 0.15 hectares (0.37 acres) 

bounded by Blossom Street, Fleur de Lis Street and Elder Street and contains two 

properties providing a total of 2,445 sq m (26,313 sq ft). An initial feasibility study 

has been undertaken showing a part conversion and part new build 61 unit residential 

development of 3,509 sq m (37,767 sq ft) net saleable area. 


The three sites are to be sold via a single three year Option Agreement with obligations 

that the developer must meet prior to drawing down three separate Development 

Agreements. Individual 150 year headleases will be granted on completion of the 

development of each site. 

The following payments apply to the Call Option, Development Agreements and 

Headleases. Offers are invited on the payments to be made on practical completion. 

TwoShoreditch 

SITE 

CALL OPTION 

AGREEMENT 

paymENT LICENCE 

FEE PA 

DEVELOPMENT 

AGREEMENT 

PAYMENT LICENCE 

FEE PA 

HEADLEASE 

PAYMENT GROUND RENT 

OVERAGE 

PROVISIONS 

One £100,000 £7.5m £130,000 5% of rents receivable* Please see 

structure 

Two £50,000 £5.5m £90,000 Offers 5% of rents receivable* 

£6m 

document 

invited 

Three £30,000 £5.5m £75,000 

5% of rents receivable* or in the 

£1,000 per residential unit data room 

*subject to a minimum 

Shoreditch Estate, London E1 

03

OneShoreditch 


LondonE1 


TwoShoreditch

CARMELITE STREET 

LOcation 

LANE 

GREEN LANE 

ATTON GARDEN 

OAD 

NORTHAMPTON ROAD 

HOLBORN 

CIRCUS 

BOUVERIE STREET TEMPLE AVENUE 

The Shoreditch Estate is located in the heart of Shoreditch to the 

north of the City of London within the London Borough of Tower 

Hamlets. The area contains a diverse and vibrant range of occupiers 

particularly from the technology, media and telecoms industries as 

well as an eclectic mix of restaurants, bars and retailers. 

ST ANDREW STREET 

CORPORATION ROW 

SHOE LANE 

FARRINGDON ROAD 

ST. JOHN STREET 

CLERKENWELL ROAD 

FARRINGDON STREET FARRINGDON STREET 

ST BRIDE STREET 


COMPTON STREET 

The Shoreditch Estate comprises three adjoining sites totalling 0.82 

hectares (2.02 acres) bound by Shoreditch High Street, Folgate 

Street, Fleur de Lis Street, Commercial Street, Elder Street and 

Blossom Street. 


GOSWELL ROAD 

CLERKENWELL ROAD 

NEWGATE STREET 

OLD STREET 

The location benefits from numerous transport communications due 

to its central location and is ideally situated less than five minutes’ 

walk to the north of Liverpool Street Station. Liverpool Street Station 

provides access to four underground lines, National Rail links, and 

from 2018, Crossrail. 

The Shoreditch Estate is located in close proximity to the Liverpool 

Street Crossrail Station which will significantly improve the location with 

trains scheduled to be running from 2018. Crossrail is Europe’s largest 

infrastructure project enhancing capacity across Central London by 

20%. Over 250 million passengers a year will use the service which will 

link Heathrow, the West End, the City and Canary Wharf. 

SNOW HILL 

CHARTERHOUSE STREET 

CHARTERHOUSE STREET 

CHARTERHOUSE SQ 

CARTHUSIAN STREET 

Shoreditch High Street Station provides access to the London 

Overground with direct links to Canada Water and Highbury 

and Islington. 

LOCAL TRANSPORT LINKS 

Liverpool St 

Circle 

Hammersmith 

& City 

Metropolitan 

Central 

Crossrail 

HEATHROW AIRPORT 

MAIDENHEAD 

FLEET STREET TOTTENHAM LUDGATE 

COURT ROAD CIRCUS HOLBORN 

BOND STREET 

WHITEFRIAR STREET 

TUDOR STREET 

HOLBORN VIADUCT 

EMBANKMENT 

VICTORIA EMBANKMENT 

Moorgate 

Circle 

Hammersmith 

& City 

Metropolitan 

Northern 

Crossrail 

NEW BRIDGE STREET 

Thameslink 

BLACKFRIARS UNDERPASS 

LUTON 

AIRPORT 

KING’S CROSS 

ST. PANCRAS 

WEST SMITHFIELD 

LUDGATE HILL 

CHANCERY LANE 

BLACKFRIARS 

SMITHFIELD 

MARKET 

OLD BAILEY 

Bank 

Central 

Northern 

Waterloo & City 

DLR 

GILTSPUR STREET 

FARRINGDON 

BARBICAN 

ST. PAULS 

LONG LANE LONG LANE 

ST 

BARTHOLOMEW’S 

HOSPITAL 


LondonE1 

ST PAUL’S CHURCHYARD 

CARTER LANE 

KING EDWARD STREET 

MONTAGUE STREET 

GOSWELL ROAD 

ALDERSGATE STREET 

QUEEN VICTORIA STREET QUEEN VICTORIA STREET 

WHITE LION HILL 

STOCK 

EXCHANGE 

MOORGATE LIVERPOOL 

STREET 

BANK 

LONDON BRIDGE 

ALDGATE 

Shoreditch High St 

London Overground 

ST MARTIN’S LE GRAND 

ALDERSGATE STREET 

HIGHBURY & ISLINGTON 

SHOREDITCH 

HIGH STREET 

WHITECHAPEL 

ST PAUL’S CATHEDRAL 

PETER’S HILL 

MUSEUM OF 

LONDON 

STRATFORD 

LONDON WALL 

GRESHAM STREET 

BARBICAN 

WOOD STREET 

LOVE LANE 

CHADWELL HEATH 

SHENFIELD 

WEST HAM 

WHITECROSS STREET 

SILK STREET 

CHISWELL STREET 

CHEAPSIDE POULTRY 

CANARY WHARF 

WOOLWICH 

ABBEY WOOD 

UPPER THAMES STREET 

BUNHILL ROW 

MOOR LANE 

GRESHAM STREET LOTHBURY 

CANNON STREET CANNON STREET 

06 

OLD STREET 

ROPEMAKER STREET SOUTH PLACE 

MOORGATE 

PRINCES STRRET 

BANK 

MANSION 

HOUSE 

OLD 

STREET 

CITY ROAD 

FINSBURY PAVEMENT 

MOORGATE 

THROGMORTON STREET 

BANK OF 

ENGLAND 

TABERNACLE STREET 

FINSBURY SQUARE 

FINSBURY 

ROYAL 

EXCHANGE 

LEONARD STREETLEONARD STREET 

WORSHIP STREET 

CIRCUS 

LONDON WALL 

CORNHILL 

WILSON STREET 

ELDON STREET 

GRACECHURCH 

PAUL STREET 

EPWORTH STREET 

BLOMFIELD STREET 

SUN STREET 

OLD BROAD STREET 

THREADNEEDLE STREET 

CLIFTON STREET 

BROADGATE 

BISHOPSGATE 

HOLYWELL ROW 

LIVERPOOL STREET 

WORMWOOD STREET 

FENCHURCH STREET 

GREAT EASTERN STREET 

SCRUTTON STREET 

CURTAIN ROAD 

PRIMROSE STREET 

BEVIS MARKS 

ST MARY AXE 


EASTCHEAP 

APPOLD STREET 

LLOYD’S 

OF 

LONDON 

LIVERPOOL 

STREET 

MINCING LANE 

BISHOPSGATE 

LEADENHALL STREET 

FENCHURCH STREET 

LANE 

NORTON FOLGATE SHOREDITCH HIGH STREET 

HOUNDSDITCH 

DUKE’S PLACE 

FLEUR DE LIS 

BLOSSOM STREET 

SHOREDITCH 

HIGH STREET 

STREET 

OneShoreditch 

TwoShoreditch 

MIDDLESEX STREET 

ELDER STREET 

REDCHURCH STREET 


FOLGATE STREET 

LAMB STREET 

BRUSHFIELD STREET 

BELL LANE 

WENTWORTH STREET 

ST BOTOLPH STREET 

BETHNAL GREEN ROAD 

QUAKER STREET 

COMMERCIAL STREET 

FASHION STREET 


ALDGATE HIGH STREET WHITECHAPEL HIGH STREET 

CROSSWALL 

SPITALFIELDS 

MARKET 

ALDGATE 

PORTSOKEN STREET 

GOODMAN’S YARD 

BRICK LANE 

BRAHAM STREET 

ALIE STREET 

PRESCOT STREET 

07

08 


09

Shoreditch developments 

History 

1 - Principal Place 

Planning consent has been granted for a Foster 

& Partners designed office building of 55,742 sq M 

(600,000 sq ft) with 4,180 sq m (45,000 sq ft) 

floor plates. The scheme also incorporates a 52 

storey residential tower. 

Developer: Brookfield 

Architect: Foster & Partners 

2 - The Stage 

A planning application will shortly be submitted 

for a development comprising 380 residential 

units, 3,716 sq m (40,000 sq ft) of retail and 

37,161 sq m (400,000 sq ft) of offices arranged 

around 1.2 acres of public space. 

Developer: Plough Yard Development 

Architect: Pringle Brandon Drew 

− The Shoreditch Estate lies on a Scheduled Ancient 

Monument with the southern half of One Shoreditch 

within the precinct of the Priory and Hospital of St 

Mary Spital. The Priory and Hospital, which date back 

to 1197, was dissolved in 1539 under Henry VIII and 

largely demolished or adapted to secular uses. 

− The 17th Century saw an influx of Huguenots and the 

area’s historical association with the silk industry was 

established. 

− The late 17th and 18th Centuries saw the development 

of Georgian terraced housing to accommodate the 

master weavers controlling the silk industry. However 

periodic crises in the silk industry brought on in part by 

cheap French imports and The Spitalfields Riots led to 

the downturn in the silk market. 

− By the Victorian era the silk industry had entered a 

period of long decline and Spitalfields became a 

byword for urban deprivation. Commercial uses came 

to predominate the area with houses replaced by 

warehouses and workshops. The Spitalfields Fruit and 

Vegetable market dominated the area in the late 19th 

and early 20th Century. 

− From the 1960s onwards a “new Georgian” ethos lead 

to campaigns to save the old merchant terraces and 

a gentrification of the area commenced. Urban 

regeneration has seen the erection of large modern 

office blocks as well as the preservation of Old 

Spitalfields Market since 1991 when the Fruit and 

Vegetable Market moved to Leyton. 

− As well as the commercially led regeneration of the 

area, it has become well known for its arts and music 

scene, which combined with the vibrant environment, 

has attracted a new and diverse occupier base of 

technology, media and telecoms companies to the area. 

Tech City 

− In November 2010 David Cameron set out the 

Governments ambition to help East London become one 

of the world’s great technology centres by supporting 

the existing cluster of organisations in the area. 

 

“It’s clear that in East London we have the potential 

to create one of the most dynamic working 

environments in the world”. 

David Cameron, Prime Minister – November 2010 

3 - The Fruit & Wool EXCHANGE 

planning consent was recently granted for a 

development which will provide 36,232 sq m 

(390,000 sq ft) of office accommodation, 2,694 sq M 

(29,000 sq ft) of retail and restaurants, a public 

house and over 1,997 sq m 21,500 sq ft of 

dedicated SME space. 

Developer: Exemplar and City of London 

Architect: bennetts associates 

4 - Bishopsgate Goods Yard 

Bishopsgate Goods Yard is an important strategic 

site of 4.7 hectares (11.614 acres). The future 

of the site could provide up to 2,000 new homes, 

offices and 1.7 hectares (3.459 acres) of open 

space for the local community. 

Developer: Ballymore and Hammerson 

− With 3,200 new IT start ups in the last four years, 

London’s Tech City has grown exponentially and now 

employs approximately 48,000 people. 

− A number of large multi-national companies including 

Cisco, Facebook, Google and Vodafone have invested 

in the technology hub, with Google opening an 

Innovation Centre, Vodafone bringing its Ventures 

Investment Fund and Amazon opening a Digital Media 

Development Centre. 

10 


11

32 

31 

w) 

D 

3 

8 

1 

3 

222 

221 

223 


2 

169 

225 

30 

167 

6 

PH 

NICHOLLS & CLARKE 

25 

26 

T unnel 

228 

24 

23 

w) 

SP 

SP 

6 

SL 

SL 

4 

14 

13 

19 18 17 16 15 

Bishopsgate 

Court 

0m 10m 20m 30m 

Bishopsgate 

Bars 

233 

232 

20 

2 

0m 10m 20m 30m 

Bishopsgate 

Bars 

D 

4 

8 

3 

13 

233 

Bishopsgate 

Court 

2 

PH 

232 

20 

2 

228 

3 

225 

OneShoreditch 

14 

19 18 17 16 15 

norton folgate 

3 to 10 

1 

222 

223 

221 

T unnel 

shoreditch high STREET 

3 to 10 

21 

22 

23 

T unnel 

13 to 15 

5 to 7 9 11 11a 

17 

24 

25 

16 

26 

20a 

15 

folgate STREET 

Site of 

The Priory and Hospital 

of St Mary 

30 

14 

13 to 15 

5 to 7 9 11 11a 

31 

13 

Blossom 

Place 

20 18 16 10 8 6 

32 

12 

20 18 16 10 8 6 

Site of 

21 

22 

17 

16 

20a 

15 

The Priory and Hospital 

of St Mary 

Ordnance Survey © Crown Ordnance Copyright 2012. Survey All rights © reserved. Crown Copyright 2012. All rights reserved. 

Licence number 100020449. Licence Plotted number Scale - 1:1250 100020449. Plotted Scale - 1:1250 

1 

22 

169 

167 

T unnel 

1970s 

Warehouse 

14 

23 

25 

26 

13 

11 

blossom street 

TwoShoreditch 

1887 

Warehouse 

25 to 27 

28 

12 

1 

24 

34 

22 

36 30 

26 

15 to 21 

161 

2 

The Depot 

10 Blossom 

Street 

14 to 22 8 6 4 

23 

19 

32 

13 

15 

5 

1 to 15 

23 

25 

26 

1927 

Warehouse 

FLEUR DE LIS STREET 

11 


1 to 3 

25 to 27 

28 

24 

commercial STREET 

Loom Court 

34 

36 30 

26 

15 to 21 

161 

2 

14 to 22 8 6 4 

23 

19 

32 

13 

15 

5 

elder street elder street 

1 to 15 

1 to 3 

NORTON FOLGATE 

SHOREDITCH HIGH HIGH STREET STREET 

Blossom Place 

FOLGATE STREET 

1970s Warehouse 

1887 Warehouse 


The Depot 

10 BLOSSOM ST 



Loom Court 

ELDER STREET 

ELDER STREET 

For indicative purposes only. 

12 


13

Norton Folgate 

1ShoreditchEstate 

LondonE1 

Blossom Place - Water Poet garden 

Blossom Street warehouses 

Arts and Crafts buildings 


OneShoreditch

One Shoreditch comprises 13 properties on a 0.39 

hectares (0.96 acres) site with planning consent for 

refurbishment, reconstruction and redevelopment to 

provide offices, a public house and retail accommodation. 

A summary of the existing properties is set out below 

Properties nia Sq M nia SQ FT Rent Per 

Annum 

13 Norton Folgate 365.7 3,936 £36,897 

14 Norton Folgate 185.5 1,997 - 





Blossom 

Place 

BLOSSOM street 


ELDER street 






5 & 7 Folgate Street 550.3 5,923 £103,585 

9-11a Folgate Street 828.4 8,917 £153,900 

16/17 Blossom Street 589.3 6,343 £114,720 

2 Shoreditch High Street 164.9 1,775 - 

3-10 Shoreditch High Street (inc 12/14 

Blossom Street & 15 Blossom Street) 

7,054.8 75,937 £33,000 

Total 11,542 124,241 £472,402 

tenancies 

The buildings are currently multi-let to 24 tenants, predominantly on short term leases with 

landlord break options allowing the implementation of the planning consent. The current 

income is £472,402 per annum exclusive, a detailed tenancy schedule is available in the 

data room. 

Arts and Crafts buildings 


building summary 

− 

− 

− 

− 

− 

2 & 3-10 Shoreditch High Street, 16/17 Blossom Street and 13 & 20 Norton Folgate are not 

deemed to be of importance to the conservation area or of heritage / historical interest. 

The 19th Century brick warehouses on the western side of Blossom Street and Fleur de Lis 

Street are heritage assets of architectural and historical interest. 

The “Arts and Crafts” block on the corner of Folgate Street and Blossom Street is also a 

heritage asset and is deemed to make a positive contribution to the Conservation Area. 

14-19 Norton Folgate are deemed to make a positive contribution to the Conservation Area 

and are therefore to be retained, repaired and adapted. 

None of the properties are Statutory Listed, however they are located within the Elder Street 

Conservation Area. 

Shoreditch High Street and Norton Folgate 

OneShoreditch 

16 

Shoreditch Estate, London E1 17

Consented Scheme 

Planning consent has been granted for the regeneration of the former ‘Nicholls & Clarke’ Site 

through the reconstruction and redevelopment of properties on a rectangular site bounded by 

Shoreditch High Street, Fleur de Lis Street, Folgate Street, Blossom Street and Norton Folgate, 

known as One Shoreditch. 

The consented scheme will create an attractive and well specified development whilst preserving 

and enhancing the character and appearance of the Elder Street Conservation Area. Full planning 

consent was granted on 5th October 2011 (PA/10/02764) for the redevelopment of the former 

Nicholls & Clarke Site and adjoining Depot Site, 10 Blossom Street, for commercial led mixed 

use purposes, comprising buildings between four and nine storeys in height to provide a GEA 

of approximately 18,775 sq m of B1 (office); approximately 1,816 sq m of A1 (retail) and A3 

(restaurant) and approximately 663 sq m of A4 (public house), together with the creation of a 

new public courtyard at Blossom Place. 

Consented Scheme gia Sq M gia Sq FT nia Sq M nia Sq FT 

New Build Office 11,546 124,280 8,438 90,826 

Warehouses 2,142 23,056 1,400 15,069 

Arts & Crafts Buildings 1,426 15,349 1,278 13,756 

13-15 Norton Folgate 1,161 12,497 684 7,363 

16-19 Norton Folgate 1,198 12,895 981 10,559 

The Depot, 10 Blossom Street 2,445 26,318 1,622 17,459 

Total 19,918 214,395 14,403 155,032 

It is envisaged that the Depot Site, 10 Blossom Street will be developed in conjunction with 

Loom Court, 14-22 Elder Street to form Three Shoreditch. 


Warehouses 


New Build 


The Depot 

10 Blossom St 

16-19 


13-15 


Arts & Crafts 

new build 


refurbishment / 

reconstruction 

Proposed new development of One Shoreditch 

*Not to scale. For indicative purposes only. 

OneShoreditch 

18 


Planning 

The properties are located within the London Borough of Tower Hamlets and the Elder Street 

Conservation Area. They are also located on a Scheduled Ancient Monument (Medieval Priory 

and Hospital of St Mary Spital). 

Description 

One Shoreditch will provide a prominent mixed use scheme comprising Grade A offices and 

retail in addition to retained warehouse style offices and ancillary retail. 

− 

The new office building on Shoreditch High Street will be accessed via a prominent 

reception area and will provide 8,438 sq m (90,826 sq ft) of Grade A office and retail 

accommodation arranged over lower ground, ground and nine upper floors. The floor 

plates range from approximately 743.2 sq m (8,000 sq ft) of retail accommodation on the 

ground floor to 1,459.9 sq m (15,715 sq ft) of offices on the first floor. 

Specification 

The offices have been designed to meet the latest BCO standards and have a target BREEAM 

rating of excellent. The key features and specification varies between buildings but are as follows: 

− 

− 

− 

− 

− 

− 

− 

− 

− 

− 

New office floor plates of up to 1,460 sq m (15,715 sq ft) 

Prominent entrances on Norton Folgate, Shoreditch High Street and Blossom Street 

Maximum 3m floor to ceiling heights 

Roof terraces on the 3rd and 7th floors 

Flexible air conditioning designed for either fan coil 

or chilled beam systems 

8 passenger lifts, 3 fire / goods lifts and a cycle lift 

Shower and changing facilities 

92 cycle spaces 

1 car parking space 

New public realm space at Blossom Place 

− 

− 

− 

− 

− 

16/17 Blossom Street will be redeveloped, replacing the existing modern infill block with a 

high quality office building allowing improved access into the reformed Blossom Place. 

The warehouses bounded by Fleur de Lis Street and Blossom Street are to be retained and 

converted to B1 office use. These buildings will interlink with Shoreditch High Street as well 

as benefitting from a separate entrance accessed from Blossom Street and Blossom Place. 

The Arts & Crafts Buildings will be redeveloped behind their facades and adapted to 

provide 1,279 sq m (13,756 sq ft) of office accommodation with public house / restaurant 

uses on the ground floor. 

14-19 Norton Folgate are to be refurbished and reconstructed to provide A1 / A3 

accommodation on the ground floor with access to Blossom Place and office 

accommodation above totalling 1,665 sq m (17,922 sq ft). 

13 Norton Folgate will be redeveloped to provide a prominent new reception area which 

will give access to both the Arts & Craft building and 14-19 Norton Folgate, whilst 

retaining retail accommodation on the ground floor. 

Further Information is contained in the data room including: 

− S.106 

− Tenancy Schedules 

− Leases 

− Planning Information 

− CGIs and floor plans 

project team 

− Avanti Architects − Hoare Lea (Services) 

− Planning & Regeneration Ltd − Gordon Ingram Associates (RoL) 

− MOLA (Archaeology) − WSP (Traffic) 

− Waterman Civils (Structure) − Open Planning (Access Statement) 

One Shoreditch 

7th floor roof terrace 


OneShoreditch 

20 


FLOOR PLANS of proposed development 

GROUND floor 

3RD floor 




The Depot, 

10 Blossom 

Street 


The Depot, 

10 Blossom 

Street 





Water Poet Pub 



OFFICES - 449 sq m (4,833 sq ft) 

retail - 1,071 sq m (11,528 sq ft) 


OFFICES - 2,442 sq m (26,285 sq ft) 

CORE 


public house - 314 sq m (3,380 sq ft) 

CORE 

OneShoreditch 

22 


23

6 Elder Street 


LondonE1 

1927 warehouse 




TwoShoreditch

Two Shoreditch comprises a triangular site of approximately 

0.28 hectares (0.69 acres) bounded by Fleur de Lis Street, 

Elder Street and the railway lines to the north. 

1927 

Warehouse 

The site contains seven properties which are outlined below 

as well as a derelict building and a large open courtyard. 

PROPERTIES NIA SQ M NIA SQ FT RENT PER 

ANNUM 

2 Elder Street - - 

4 Elder Street 428.5 4,612 £38,004 


1970s 

Warehouse 

1887 

Warehouse 



ELDER street 

6 Elder Street 417.7 4,496 £52,044 

8 Elder Street 317.5 3,418 £40,328 


1887 Warehouse & 1970s Warehouse 1,549.4 16,678 - 

1927 Warehouse 1,868.3 20,110 - 

161 Commercial Street 173.4 1,867 - 

Total 4,755 51,181 £130,376 

TENANCIES 

The buildings are currently multi-let to nine tenants on short term leases with landlord break 

options allowing redevelopment or refurbishment. The current income is £130,376 per annum 

exclusive, a detailed tenancy schedule is contained in the data room. 

existing buildings site plan 

commercial street 


2 & 4 Elder Street 

1927 

Warehouse 

1970s 

Warehouse 

1887 

Warehouse 

ELDER street 


PLANNING 


Conservation Area. 4, 6 and 8 Elder Street are locally listed. 

161 Commercial Street and Elder Street 

TwoShoreditch 

26 


27

Existing Buildings 

4, 6 and 8 Elder Street 

The three properties form part of a Victorian terrace of converted warehouses. The properties are 

arranged over basement, ground and three upper floors and are constructed with brick elevations, 

central steel columns, suspended wooden floors and single glazed timber sash windows. 


2 Elder Street is a derelict former warehouse building originally constructed over ground and 

first floor. 

PROPERTY 4 ELDER STREET 6 ELDER STREET 8 ELDER STREET 

FLOOR NIA SQ M NIA SQ FT NIA SQ M NIA SQ FT NIA SQ M NIA SQ FT 

3rd 79.5 856 72.9 785 46.5 500 

2nd 80.6 868 81.4 876 72.6 781 

1st 80.6 868 82.0 883 72.2 777 

Ground 92.8 999 80.5 867 15.9 171 

Lower Ground 94.9 1,021 100.8 1,085 110.5 1,189 

TOTAL 428.5 4,612 417.7 4,496 317.5 3,418 

1887 Warehouse & 1970s warehouse 

This property comprises a brick built warehouse under a pitched tile roof with wooden casement 

windows arranged over basement, ground and three upper floors serviced by a goods lift. 

Believed to date from 1887 the property also benefits from a single storey ground floor extension 

under a corrugated roof which was added in circa 1970. 

PROPERTY FLOOR NIA SQ M NIA SQ FT 

1887 Warehouse & 1970s Warehouse 3rd 250.3 2,694 


2nd 251.0 2,702 

1st 242.8 2,614 

Ground 564.8 6,080 

Basement 240.4 2,588 

TOTAL 1,549.4 16,678 

The 1927 warehouse is located in the centre of the site and provides a brick built warehouse 

constructed under a flat roof and arranged over basement, ground and three upper floors and 

benefits from a large open yard fronting onto Fleur de Lis Street. 


1927 Warehouse 3rd 205 2,211 

2nd 339 3,648 

1st 393 4,235 

Ground 603 6,496 

Lower Ground 327 3,520 

Total 1,868 20,110 

161 commercial Street 

161 Commercial Street is arranged over ground and first floors. Historically the property has 

offered ground floor retail, however it is currently in a state of dilapidation. 


1887 warehouse 1970s warehouse 

161 Commercial Street 1st 80.6 868 

Ground 92.8 999 

TOTAL 173.5 1,867 

TwoShoreditch 

28 


29

Development Potential 

Avanti Architects have undertaken a feasibility study which has outlined the substantial 

development potential provided by the site. 

The proposed scheme which is outlined below, has the potential to deliver in excess of 

8,361 sq m (90,000 sq ft NIA) and the proposed floor plans, CGIs and section drawings are 

contained in the data room. 

Potential purchasers should make their own enquiries with the local planning authority and 

ensure that they comply with the terms of the Call Option Agreement regarding use and area. 

AREA SCHEDULE 

FLOOR NIA SQ M NIA Sq Ft GIA SQ M GIA Sq Ft 

5th 218 2,347 280 3,014 

4th 938 10,097 1,104 11,883 

3rd 1,773 19,084 1,988 21,399 

2nd 1,805 19,429 2,017 21,711 

1st 1,721 18,525 1,923 20,699 

Ground 1,559 16,781 1,988 21,399 

Basement* 450 4,844 900 9,688 

Total 8,464 91,106 10,200 109,793 

Corner of Blossom Street and Fleur de Lis Street 

*Assumed area 

Proposed northern elevation of Two Shoreditch 

Proposed development - corner of Blossom Street and Fleur de Lis Street 

TwoShoreditch 

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31


GROUND floor 

1 Shoreditch 

High Street 

3RD floor 

Warehouses 

Depot Site 

14-22 Elder St 

GROUND FLOOR 1,559m2 NIA 1ST FLOOR 1,721m2 NIA 


CORE 

blossom STREET 



ELDER STREET 

THIRD FLOOR 1,773m2 NIA 

1,988m2 GIA 


CORE 

blossom STREET 



ELDER STREET 

TwoShoreditch 

32 


33


LondonE1 

Elder Street 

10 Blossom Street 

The Depot - corner of Blossom Street and Fleur de Lis Street 

ThreeShoreditch

Three Shoreditch comprises two properties on a 

rectangular site of approximately 0.15 hectares 

(0.37 acres) bounded by Blossom Street, Fleur de Lis 

Street and Elder Street. 

Existing Buildings 

Loom Court, 14-22 Elder Street 

The property is located on the corner of Elder Street and Fleur de Lis Street and comprises an 

office building constructed in 1973. The property is of a traditional brick construction beneath 

a flat roof, and is arranged over ground and three upper floors providing 1,951.7 sq m (21,009 

sq ft) of office accommodation. 



The Depot 

10 

Blossom 

Street 


Loom 

Court 

ELDER street 

The property is let to Frizzell Group Limited for a period of 25 years from 5th September 1989 

at a current rent of £730,000 per annum. 


Frizzell Group have sublet the property in its entirety to Ashurst Morris Crisp for a term expiring 

on 1st September 2014. 

A copy of the lease and sublease are contained in the data room. 


Loom Court, 14/22 Elder Street 3rd 533.5 5,743 

2nd 534.1 5,749 

1st 536.2 5,772 

Ground 347.9 3,745 

Total 1951.7 21,009 

The Depot, 10 Blossom Street 

The property comprises a two storey building arranged over ground and 1st floor. Believed to 

date from the 1950s the property is of a brick construction under a flat roof. 

The property is let to Hoxton Street Studios for a term to expire on 13th September 2015 

at a current rent of £36,589 per annum exclusive, subject to a landlords only rolling break 

option operable from 28th September 2012 on six months notice. 


The Depot, 10 Blossom Street 1st 48.5 522 

Ground 444.2 4,782 

TOTAL 492.7 5,304 

planning 


Conservation Area. 

View from Loom Court 


38 


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Development Potential 

Avanti Architects have undertaken a feasibility study which has outlined the substantial 

residential development potential provided by the site. They have assessed the potential of 

redeveloping or reconstructing Loom Court and The Depot to provide a single residential scheme. 

The Depot Site currently has planning consent for 1,622 sq m (17,459 sq ft NIA) as part of the 

planning consent granted at One Shoreditch. 

The proposed residential scheme which is outlined below, has the potential to deliver 

approximately 61 units with a total net saleable area in excess of 3,509 sq m (37,767 sq ft). 

The proposed floor plans, CGIs and sections drawings are contained in the data room. 

Potential purchasers should make their own enquiries with the local planning authority and 

ensure that they comply with the terms of the Call Option Agreement regarding use and 

floor area. 

AREA SCHEDULE 

FLOOR NSA SQ M NSA Sq Ft 

4th 719 7,744 

3rd 704 7,581 

2nd 704 7,581 

1st 704 7,581 

Ground 676 7,281 

Total 3,509 37,767 

Elder Street - view south 

Elder Street - view north 


40 


41


Ground floor 

1st, 2ND & 3rd floor 




ELDER STREET 


ELDER STREET 

2 bedroom 


2 bedroom 


1 bedroom 

studio 

circulation 

1 bedroom 

studio 

circulation 


42 


43

STRUCTURE 

The City of London Corporation (CoL) as the Freeholder will grant a single non-assignable 

three year Call Option Agreement over sites One, Two and Three Shoreditch, which consists 

of 22 properties with a total site area of approximately 0.82 hectares (2.02 acres). The Call 

Option will enable the Developer to draw down a Development Agreement for each of the three 

sites provided that the Developer’s obligations under the Call Option Agreement have been 

complied with. Following completion of each phase of the development a new 150 year geared 

headlease will be granted. 

The following payments apply to the Call Option, Development Agreement and Headlease. 

SITE 

CALL OPTION 

AGREEMENT 

PAYMENT 

CALL OPTION 

LICENCE 

FEE PA 

The City of London Corporation (CoL) will grant a single non-assignable three year Call Option 

Agreement over One, Two and Three Shoreditch. A payment of £6m will be payable by the 

Developer upon the grant of the Call Option. 

The Call Option will require the Developer to comply with a number of obligations prior to being 

able to draw down a Development Agreement on each of the sites. 

These conditions will include securing acceptable planning consents in respect of each of the 

sites. A planning consent exists in respect of One Shoreditch and part of Three Shoreditch 

(10 Blossom Street). 

The Developer will have to obtain CoL’s approval to any planning applications prior to 

submission. Proposals must comply with the following use / minimum area criteria: 

SITE MINIMUM AREA TO BE CREATED PERMITTED USE 

area sq m 

area sq ft 

One 12,774 137,500 (NIA) B1 office space with ancillary retail, 

restaurant and public house uses 

Two 6,503 70,000 (NIA) B1 office space with ancillary retail and 

restaurant uses 

Three 3,716 

4,180 

DEVELOPMENT 

AGREEMENT 

PAYMENT LICENCE 

FEE PA 

40,000 (GIA) 

45,000 (GIA) 

HEADLEASE 

PAYMENT 

GROUND RENT 

Residential or; 

B1 offices with ancillary uses 

OVERAGE 

PROVISIONS 

One 

£100,000 £7.5m £130,000 5% of rents receivable* Please see 

structure 

Two £50,000 £5.5m £90,000 Offers 5% of rents receivable* 

£6m 

document 

invited 

in the data 

5% of rents receivable* or 

Three £30,000 £5.5m £75,000 

room 

£1,000 per residential unit 

*subject to a minimum 

The Developer will assume responsibility for the management, security and associated costs 

of the sites during the Call Option Period (subject to CoL approval). They will be entitled to 

retain all rents and other income generated with the exception of the rent payable by the 

tenant of Loom Court, 14/22 Elder Street. The Developer will be responsible for securing vacant 

possession or agreeing enforceable binding agreements to secure the same. 

The Developer will pay to the CoL a licence fee in respect of each site during the call option 

period which is payable until drawdown of each development agreement. The licence fees are 

as follows: 

− One Shoreditch - £100,000 pa 

− Two Shoreditch - £50,000 pa 

− Three Shoreditch - £30,000 pa 

DEVELOPMENT AGREEMENTS 

Once all of the conditions set out in the call option agreement have been met the Developer may 

call upon the CoL to grant three Development Agreements. The Development Agreements will be 

for a duration of five years subject to an obligation to commence construction within 12 months. 

On the granting of the Development Agreements the following payments will be made to the CoL: 

− One Shoreditch - £7.5m 

− Two Shoreditch - £5.5m 

− Three Shoreditch - £5.5m 

The following licence fees will be payable for the duration of each Development Agreement: 




If practical completion is not achieved within 36 months of the grant of the Development 

Agreement then the licence fee will double. 

HEADLEASES 

Following completion of a development on each of the sites a new 150 year headlease will be 

granted. Each lease will reserve a ground rent payable from practical completion which will be 

the greater of: 

− 5% of rents receivable for the commercial accommodation; or 




In the event that Three Shoreditch is developed for residential purposes a ground rent of 

£1,000 per residential unit, doubling every 25 years will be payable. 

On completion of each site the Developer will make a further capital payment to the CoL. 

Offers are invited in respect of these payments. 

OVERAGE PROVISIONS 

There will be overage provisions relating to the floor areas, residential sale prices and 

developers profit. 

COSTS 

The Developer will bear all of the CoL’s reasonable legal, surveying and other costs in dealing 

with this transaction. 

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364 

1 

26 

52 

78 

104 

130 

156 

This certificate has been produced by E P C g e n, a software module developed by B R E for C L G under contract with F M. The author of the program is J o s e O r t i z (o r t i z j @ b r e . c o . u k ). Some security features proves the authenticity of this document. 

SK-002602-130743 

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364 

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130 

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SK-024641-131863 

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SK-640230-020663 

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182 208 234 

182 208 234 

338 

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286 

260 

338 

312 

286 

260 

TENURE 

The properties on the Estate are currently all owned Freehold under nine titles. 

The properties are to be sold by way of new 150 year leasehold interests. 

The draft headleases are contained in the data room. 

TENANCY 

The Shoreditch Estate is currently let to a total of 36 tenants producing a total rent of 

£1,369,367 per annum. Copies of the tenancy schedules and all the leases are provided 

in the data room. 

Energy Performance Certificate 

Non-Domestic Building 

13 Norton Folgate 

London 

E1 6DB 

Certificate Reference Number: 

0990-9020-0321-7120-4070 

Proposal 

Offers are invited subject to contract for payments which are to be paid on 

practical completion. 

Further information 

Access to the online data room is available at www.shoreditchestate.com 

This certificate shows the energy rating of this building. It indicates the energy efficiency of 

the building fabric and the heating, ventilation, cooling and lighting systems. The rating is 

compared to two benchmarks for this type of building: one appropriate for new buildings 

and one appropriate for existing buildings. There is more advice on how to interpret this 

information on the Government’s website www.communities.gov.uk/epbd. 

Energy Performance Asset Rating 

More energy efficient 

A+ 

A 0-25 

B 26-50 

C 51-75 

D 76-100 

E 101-125 

F 126-150 

G Over 150 

Less energy efficient 

Technical information 

Main heating fuel: Grid Supplied Electricity 

Building environment: Heating and Natural Ventilation 

2 

Total useful floor area (m ): 415 

Building complexity 

(NOS level): 3 

Net zero CO emissions 

2 

115 

This is how energy efficient 

the building is. 

Benchmarks 

Buildings similar to this one 

could have ratings as follows: 

38 If newly built 

If typical of the 

67 existing stock 




London 

E1 6BT 


0990-7067-0341-0190-7044 








A+ 

A 0-25 

B 26-50 

C 51-75 

D 76-100 

E 101-125 

F 126-150 

G Over 150 



2 

73 




Benchmarks 

Main heating fuel: Natural Gas 


2 











3-10 Shoreditch High Street 

London 

E1 6PG 


0990-0531-6420-4629-2006 








A+ 

A 0-25 

B 26-50 

C 51-75 

D 76-100 

E 101-125 

F 126-150 

G Over 150 



2 

128 




Benchmarks 

Main heating fuel: Natural Gas 


2 









+ 

46 


47

CONTACT 

Oliver Sadler 

oliver.sadler@allsop.co.uk 

Jonathan Ruback 

jonathan.ruback@allsop.co.uk 

Howard Kauffman 

howard.kauffman@allsop.co.uk 

www.shoreditchestate.com 

Important notice 

DISCLAIMER: Allsop LLP on its behalf and for the Vendors or Lessors of this property, whose Agents they are, give notice 

that: These particulars are set out as a general outline only for guidance to 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 Parties 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 Allsop LLP has any authority to make 

any representation or warranty whatsoever in relation to this property. Unless otherwise stated, all prices and rents are quoted 

exclusive of VAT. December 2012. 

Brochure designed & produced by Saentys +44 (0)20 7407 8717 www.saentys.com info@saentys.com 

48

www.shoreditchestate.com

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