The site extends to 1.02 acres (0.41 hectares) and forms a reverse 'L' shape within an island of land bounded by Osiers Road to the north, east and south.To the west, the site abuts the Radius development by Taylor Wimpey.
The current accommodation comprises B1 offices, B2 light industrial and B8 storage/distribution, in all extending to 40,722 sq ft GIA.
The existing buildings, of one and two storeys, are predominantly brick built with both flat and pitched roof elements. Vehicular access is provided to Osiers Road to the north, east and south west corner of the site.
The existing accommodation is let to seven separate tenants, generating an annual income of £244,375 pa.
Vacant possession can be obtained in June 2017, providing an ideal window to secure detailed planning consent.
All leases and associated documents are available to download from the data room at www.victoriaworkssw18.co.uk ( Agency Pilot Software Ref: 7566 )
Location
Victoria Works is located to the north of Wandsworth Town in the Wandle Delta, close to the point at which the River Wandle meets the River Thames.
Once an area of industrial significance, the area has made way for wholescale redevelopment to produce high quality residential accommodation in an extremely popular location. Victoria Works provides the final sizeable opportunity to develop within this tranquil riverside location.
The site is perfectly located to enjoy all that the local area has to provide and residential amenities are abundant within close proximity. The Thames Path offers riverside walks and idyllic cycling opportunities whilst Southside shopping centre, cinema and restaurant complex is situated just 7 minutes walk from the site. Wandsworth Park lies just 200m to the west and King George’s Park within 600m to the south, together providing over 80 acres of recreational open space.
Wandsworth is seeing an emergence of boutique shops, restaurants and bars and with the ongoing redevelopment of the Ram Brewery, the first phase of which is due to complete in Autumn 2017, the area is about to change beyond recognition.
Accommodation
The site extends to 1.02 acres (0.41 hectares)
Terms
TITLE - The Freehold and Long Leasehold interests are held under Titles TGL123919 and SGL29358.
VAT - The Freehold interest is not elected for VAT. The Long Leasehold interest is elected for VAT and it is envisaged it will be sold as a Transfer of Going Concern (TOCG).
VENDOR - The interests are owned and managed separately by
i) Russell-Cooke Trust Company (Freehold)
ii) Trident Holdings Investments Limited (Long Leasehold)
OFFERS - Offers are to be invited on an informal tender basis on a subject-to-planning and/or unconditional basis. Offers on a subject to planning basis are permitted to be conditional on vacant possession.
Specification
- 1.02 acre (0.41 hectare) freehold site
- Situated in an idyllic enclave of recently completed development between the
- River Thames, the River Wandle and Wandsworth Park
- Wandsworth Town Station is just over 5 minutes on foot
- Existing offices and warehouses extending to 40,722 sq ft GIA
- Allocated for residential-led mixed-use development
- Currently let to 6 tenants, generating £244,375 pa
- The Vendor has implemented a strategy to secure vacant possession in June 2017, to provide a window to secure planning consent
- Unconditional and subject to planning offers are invited for the freehold and long leasehold interests