Download - Allsop

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.
ThreeShoreditch
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