May 2011 Archives

We've been monitoring this little site on Southwark Street for well over a decade. We saw the small sapling which struggled to gain a foothold on what remained of the roof in 2001 turn into a fairly substantial tree by 2009. The building itself, however, has not fared so well, indeed so frail is it now that parts are only held up with the aid of scaffolding, but even in this state it still retains a certain charm (click on the image for hi-res(ish)):

This is a site that's good to go, oven-ready with a still valid consent for 8 flats and a restaurant behind a retained facade. What's more it's up for sale through Sterling Developments, an offer around the £2m mark should secure. Someone please develop it. 

and the X Factor and American Idol have all got one thing in common, Simon Cowell. He's becoming so ubiquitous that he's even appearing on planning applications, surely it can't be the same one can it. Have a look under Applicant Details:

The houseowners on the banks of the Mississippi have taken matters into their own hands when it comes to flood protection. Most times it seems to work...

 ...sometimes, however, it doesn't:

Go here for more pics. 

On the Pint of Milk Test we've blogged many times on pricey London homes. There was Roman Abramovich's plans to knock through two Knightsbridge blocks to create a mega mansion. There was also the speculated £4,000 per square foot at the Shard, meaning a £17million price tag for those apartments and we can't forget the 45 units sold at an aggregate price of £963,511,720 at One Hyde Park.

Well, Winfield House, in Regents Park would most definitely surpass them all, the only snag being it won't be coming to market anytime soon. This is the US ambassador to Britain's London residence and where Barrack Obama stayed on his recent state visit, when he came a day early from Ireland fearing the worst from the ash cloud. It is also where the Obama's hosted a banquet for the Queen on Wednesday, the last day of their visit.

Set over 12 acres in the grounds of Regents Park, the house boasts the largest private garden in central London, after that of Buckingham Palace.

It's housed the US ambassador to Britain since 1955 and has seen its fair share of statesmen pass through its doors. This link from the US Embassy has more on its history. 

You can only imagine what kind of security measures the building has in place or what type of price it would fetch if ever it was to be sold. The latter won't happen any time soon, even with the US embassy moving to Nine Elms, I can't see the US ambassador upping sticks to be nearer to it. Can you envisage the Queen having to go to Vauxhall for a state dinner? 

A few weeks ago we blogged about the new planning rules (or lack of) governing the change of use from office to resi. In the news this week is Dutch developer Qbic with plans to convert empty offices to boutique hotels. Apparently they have a swanky construction method called "all-in-one" which is basically a pod with all you need, bed, furniture etc which they slot into the existing design. The advantage of the method? It's fast, 3 months from start to finish. So if it's quick to insert would it be as quick to remove? The reason I ask is that wouldn't this be an ideal temporary use for vacant commercial space. Take the Shell Centre for example, the owner says it's going to be three years untill the development starts and it's currently looking in to temporary uses. You could do a lot worse than put a boutique hotel on this central site for a couple of years. Apparently Qbic is about to secure its first block in London very soon, watch this space...

Over 10 years ago, developer London & Bath submitted a planning application to erect a 31 storey office building on this site, just next to the elevated section of the M4. After a number of refusals, re-submissions, amendments and nicknames ("The Chiswick Dick" was a personal favourite) the size went all the way down to 5 storeys, passing 26 and 15 storeys on the way.

So far nothing has been developed. However, London & Bath (now with Galliard) haven't given up. On the contrary, they have new plans for the site, designed by Ken Shuttleworth, already nicknamed "The Octopus". It'll look like this...

Ok... so it's...well just a bit...shall we say... different. I like it.

Someone told me yesterday that The Heron (the resi one) in the City had topped out. Blimey, I thought, that's quick. Turns out it wasn't strictly the case, what has reached it's full height (almost) is the tower core around which the tower proper will be built. Still, it's a development that's not hanging about, either in terms of construction or sales. And it's quite nice to read a brochure where all the pictures of the nice places really are on your doorstep.

Go here for a time-laps video of construction so far.

If you go down to the Royal Docks today this is one of the sites you're going to see:

That's the entrance, this is what it looks like inside:

This is Ballymore's Minoco Wharf formerly Manhattan Wharf and big plans are afoot. (Don't worry that the pictures are around a year old, it still looks the same)

Remember those new fangled Enterprise Zones that George Osborne introduced in the Budget. There was only one in London, but crucially for Ballymore it was here.

I said the plans were big, here's how big. The developer plans to build a small town on the site totalling 3,500 residential units together with shops, doctors, dentist, cafes, restaurants, nursery school, primary school and a community hall. In total there will be around 20,000 people living and working in the area when this development is complete.

...in Croydon there was a flat for sale a few weeks ago for £114,745. It's been a long time since we've seen anything that low, it and the rest of the development has, perhaps unsurprisingly, now sold out.

What's the link between these two buildings? The Shard and One Hyde Park... with...

these... a pair of Nike Air Max, one of the most iconic brands in recent popular culture.

Well, if it wasn't for Renzo Piano and Lord Rogers, architects of the Shard and One Hyde Park respectively, the Nike Air Max and trainers specifically with the 'bubble' of air in the sole may never have been invented. How comes? Well this short film about an architect come shoe designer for Nike, who was inspired by the Pompidou Centre in Paris, designed together by Rogers and Piano, should explain it.

Apparently the concept of the Pompidou Centre where the internal functioning structures of the building are presented on the exterior, influenced the shoe designer to expose the air cushion, make it visual and to let people see inside.

The Royal Institute of British Architects announced the winners of the 2011 RIBA Awards on Thursday. The awards for architectural excellence went to a total of 97 buildings in the UK and Europe (89 in the UK and 8 in the rest of the EU). This is basically the long list for the Stirling Prize, as the short list will be drawn up from these 97 overall 'winners'.

There were 26 winners from London, a few of which were also LRR sites. These were City Step on Bear Lane, SE1, Claremont on Claredale Street, E2 and the H10 Hotel on Waterloo Road, also SE1.

This is City Step, an 89 residential unit scheme close to Bankside and the Tate built by house builder Galliard. Make your own mind up whether you think this is worthy of the Stirling Prize, because architecture is obviously subjective. I'm not saying anything. The London SE1 site had a quote from one of the judges which said "This is sophisticated residential architecture of the highest order"... 

A scheme I'm more fond of is this one, a 77 unit scheme in Bethnal Green called Claremont and developed by Hill Residential (below left). The last of the sites LRR took an active role in monitoring was this (below right), on the corner of Waterloo Road and Westminster Road (click on the image to enlarge). Interestingly the developer had the benefit of both a permission for a hotel, as well as a student development scheme on the site, choosing in the end to build out this 4 star hotel.

Other London schemes included in the winners list were the Angel building by Derwent, N1, One New Change, Ravensourne College on Greenwich Peninsula and the 2012 Olympic Velodrome.   

A 117m, 35-storey tower on Stratford High Street has just been given permission by Newham Council. Situated at the very western end of the road at 2-12 High Street it also abuts Tower Hamlets and the A12 Blackwall tunnel approach road. It will provide 191 residential units in total, all of them private with the commitment to providing an S106 payment for the Council's affordable housing fund.

The only snag though is that a viability statement for the development found that just £1.3m could be available, eating up any further contributions towards education, health, the environment and the like, which would normally see some funds from the developer. Due to this an affordable housing 'review mechanism' will be applied which will determine any payment in lieu, at a later stage, when residential values will be clearer and the scheme's viability is more certain.

In other words the developer is hoping for a real up turn in the areas property prices due to the Olympics, for this scheme to get off the drawing board. If they don't, then this proposal will find it impossible to get off the ground. For comparison the Athena development, also on Stratford High Street, which completed last year, as far as LRR understand didn't manage to sell any. Instead all the 169 private units became serviced apartments.

Have a look at the shot below, it takes a while for the picture to emerge, a warship complete with two helicopters hiding in plain sight behind Galliard's New Capital Quay in Deptford.

The site was in the news this week. Apparently Galliard is close to agreeing terms with NAMA to enable it to kick start construction on the halted site which has seen little action since 2010, even though some serious off-plan deposits were taken. 

A site on the eastern side of the Isle of Dogs, which is situated on the banks of the Thames and looks out at the Millennium Dome has had scoping opinion submitted. This part of the Isle of Dogs has largely been missed off the radar in terms of regeneration and gentrification consisting largely of social housing estates. And that's exactly what East Thames Group is planning on redeveloping. The application comprises the demolition of around 8 blocks containing 189 residential units and the erection of up to 400 new residential units, plus a community centre. This is what the site looks like today.

And a rough idea of the estates new composition...

Last week saw an application submitted to Wandsworth Council for Marco Polo House, most people will know it as the QVC building though. The sites on Queenstown Road, opposite Battersea Park and not far from Battersea Power Station. If you ever travel in to Victoria on the train you can't miss it, it's a pretty hideous attempt at  post-modernism with marble which didn't really work. Built in 1987 it could be demolished as early as next year if plans go through; a 25 year lifespan! This is the site in question if you don't know it.

New plans from developer Anastasia Ltd, a joint development from someone who at this stage isn't clear. The £500million scheme will provide 456 residential units in total, 385 of those private and the rest, 75 to be shared ownership. DP9 is the agent with Scott Brownrigg the planning consultant. 15,000 sq ft of retail space and 213 car parking spaces will also be provided. QVC are due to vacate the building next year, when it moves to Chiswick Park. The site was bought by Marcus Cooper for £63 million in 2006 with the Land Registry now indicating the freeholder as Anastasia Ltd, the applicants of this scheme; no price was stated however. This is what the new scheme will look like...

... is in East Sheen, corner of Christchurch and Fife Road and it's called Luccombe House, but if you wanted to get a street view of it you'd be dissapointed:

So how are you going to get a good look at it then? No problem, the Pint of Milk Test went there so you don't have to, this is what it looked like this morning:

and

and guess who's got a house almost opposite on Fife Road, none other than Tom Cruise.

A few more sites with development potential have been offered to the market this week:

Lambert Smith Hampton is marketing a couple of sites with potential for residential development on behalf of the London Borough of Hammersmith & Fulham:

 - 147 Stevenage Road, a 1970s day care centre just to the north of Craven Cottage on a site of 0.164 hectares. Further details are available here.

- 59-61 Broughton Road, a mixed use Victorian building near the Imperial Wharf development, on a site of 0.2 hectares. Further details are available here.

Knight Frank and Savills are marketing Hornbury Villa on Ladbrooke Grove. This substantial house includes two double garages and a garden and is thought to offer potential for comprehensive redevelopment. The guide price is £8 million.

The Estates Office is offering London House in Parsons Green to the market. Offers are sought in excess of £4 million for the office and retail building, which produces and income of £300,000 and is thought to offer scope for development.

A partially built scheme on East India Dock Road has been reduced, with offers now invited in the region of £750,000 for the Miami Beach Art Deco style building. Alan Selby & Partners and Shaw & Co are dealing with the sale, which was blogged about earlier this year here.

Allsop is to auction a scheme with planning consent in Harrow on 26th May. The site on Greenhill Way has permission for 37 flats and has a guide price of £1.9-£2 million. Further details are available here.

A "luxury, boutique scheme", marketed as "Calico" has now been released off plan by developer Nanofunds through marketing agent Hamptons International.

The development comprises eight one-bedroom apartments and a two-bed penthouse. Prices for the one-beds range between £337,500 and £357,500, while the penthouse is selling for £660,000. These figures represent £ per sq ft values from £673 up to £782. The properties are available on 999-year leases. www.calicolondonse1.com

To attract investors, a corporate lettings agreement has been secured for this development, to take these apartments on a seven-year term from purchasers who buy into the scheme from an investment point of view.

Nanofunds Property Investment Vehicle is small property fund management firm focusing on "boutique" investment opportunities in London and the South East. It was founded and is advised by property consultant and agent Hamptons International and Bmor, a privately-owned specialist property investment company.

Land Securities have submitted a planning application to redevelop their Kingsgate House site at 66-74 Victoria Street. The scheme will provide 102 residential units, 203,000 sq ft of grade A office space and 29,000 sq ft of shops and restaurants. Here's what the site looks like now...

and what it will look when complete...

This will be much improved on what is there already, with the public realm benefitting considerably. I went along to the NLA half day conference on Central London Residential this Wednesday just gone where Land Securities director of residential sales and acquisitions was guest speaking. He jokingly informed the audience that the bad news for shareholders that most of Victoria resembles the first image, uninspiring and drab 60's built office blocks, the good news, they own most of them. He also stated that Land Securities plan to start work next year on their Victoria interchange site, now maybe being renamed Victoria Circus/Circle? as well as Arundel Court on the Strand.  

A number of development sites have been offered to the market this week, with opportunities including:

The Old Town Hall in Fulham - opposite Fulham Broadway tube and thought to offer potential for either hotel or residential development. Available through Lambert Smith Hampton 020 7198 2000.

11 Farm Lane in Fulham - in the heart of Fulham Broadway, formerly providing facilities for the elderly and thought to offer potential for residential development. Also available through Lambert Smith Hampton.

55 Dabeney Road in Homerton - a short distance to the south of Clapton Park. A 8,800 sq ft office building currently occupies the site, but it is thought to be suitabe for residential redevelopment. Available through BNP Paribas Real Estate 020 7338 4000.

76-80 Bridport Place in Hackney - a Georgian Terrace with potential for intensification between Hoxton and De Beauvoir Town. Also through BNP Paribas.

London Residential Research subscribers will soon be getting their complimentary 'Red Book', the yearly analysis of the market. A key feature will be schemes which have seen the private units taken over by RSL's in order to offer valuable affordable housing. These schemes are then further benefited with the help of HCA funding. One such example of this is the scheme below in Charlton being developed by Greenacre Homes with Gallion Housing Association as RSL.

The site itself is situated on Harvey Gardens, opposite The Valley, home to Charlton Athletic FC. Here's the site from the other angle showing exactly how close it is.

Whether your home is this close to a football ground could be a positive or a negative, and really depends on your own view point. For social housing tenants moving into this development and seeing their house swarmed by an army of football fans every other weekend as a downside they will be pleased that Charlton are no longer in the Premier League and pulling in the crowds. Whilst languishing down in League One, the 27,000 capacity ground has recently only been getting attendances of around 15,000.

A couple of weeks ago Lewisham Council granted planning permission to London & Quadrant for a large mixed tenure scheme just south of Catford. The significance of this grant however goes further than just that. The site to be fully redeveloped is the Excalibur Estate, London's only pre-fab estate left and the UK's largest surviving. I took a trip down there last week; quite green and pleasant to be fair, a bit of mock Tudor too!

Originally built soon after the war by German and Italian prisoners of war and intended to last no more than a decade, the estate represents an ambitious housing project of 160,000 homes hurriedly erected during an acute housing shortage. The Department for Culture gave grade II listed status to 6 of the best preserved examples; English Heritage however recommended 21 properties for such status. Interestingly they did have the power to make the estate a conservation area making it much more difficult to redevelop but decided against it, knowing the council were fervently against the idea. The Guardian's got an interesting article about the debate here.

The London & Quadrant scheme will provide 133 private units and 238 social units. To give you an idea of it, here's a couple of extracts from the design and access document.