Highly Sought After Investment And Development Opportunity In The Heart Of Bethnal Green
18Victoria
ParkSq
A highly attractive investment opportunity
Investment Summary
• Freehold
• Located in the heart of Bethnal Green, one of London’s most up diverse, fastest growing and vibrant districts.
• The property occupiers a prominent corner position on Victoria Park Square with extensive views overlooking Museum Gardens.
• 18 Victorian Park Square benefits from superb connectivity being 160m from Bethnal Green Underground Station (Central Line) running into Liverpool Street Station in 3 minutes.
• The property comprises two buildings, an impressive period building to the front and large1960s building to the rear.
• Comprises 11,615 sq ft of office accommodation arranged across the two buildings over lower ground, ground, first and second floors with the benefit of onsite parking.
• Significant development opportunity with potential to increase massing with extension to the rear.
• Potential for a wide variety of uses such as hotel, residential and offices subject to planning.
• Sold with Vacant Possession.
• Offers are invited in excess of £4,950,000 subject to contract and exclusive of VAT.
• A sale at this level reflects a low capital value of £426 per sq ft.
Exterior view of 18 Victoria Park Square, with Victorian frontage, overlooking Museum Gardens opposite
18 Victoria Park Sq
Overview
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Victoria Park
Broadway Market
In recent years Bethnal Green has been the subject of a significant amount of inward investment from a wide range of developers, investors and owner occupiers looking to capitalise on its excellent location.
Strategically positioned in the heart of East London, Bethnal Green borders Shoreditch to the west, Hackney to the north and Whitechapel to the south. Bethnal Green has become a popular location for many of the Tech, Media, Creative & Fashion sectors, who are looking to take advantage of Bethnal Green’s close proximity to the City of London (1.9 miles to the south west), Old Street Roundabout (1.6 miles to west) and Canary Wharf (2.6 miles to the south).
One of London’s vibrant and fastest growing districts – Bethnal Green
V&A Museum of Childhood
Mama Shelter
Oval Space
Columbia Road Flower
Market
2 mins walk 9 mins walk
10 mins walk 15 mins walk
Queen Mary University of
London
16 mins walk
Journey times from the building. Source: TfL.
BOXCAR Brewery & Taproom
5 mins walk
18 Victoria Park Sq
Aerial Location
Broadway Market
Canary Wharf
Gas Holders
Containerville Bethnal Green
18Victoria
ParkSq
Bethnal Green
Cambridge Heath
Whitechapel
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Buzzing with vibrancy
18 Victoria Park Square is situated on the north eastern side of Victoria Park Square on a prominent position overlooking Museum Gardens.
London Cocktail Club The Beehive Coffee
Pavilion Victoria Park
Juice Trap
Regent’s Canal
Campania
18 Victoria Park Sq
Situation
Bethnal Green benefits from an excellent amenity offering with an eclectic blend of open spaces, trendy railway arches, independent retailers, gourmet restaurants, bars and numerous leisure activities. Synonymous with London’s popping music and art scene, Bethnal Green boasts some of London’s most well-known music venues and art galleries including The Oval. This desirable blend of leisure amenities and commercial offerings has led to Bethnal Green becoming a popular place to live, work, meet and eat.
The Café Chantant
Victoria Park Lake
Ombra
V&A Museum of Childhood
London Fields
Mama Shelter
Arepa & Co
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An area full of talent
18 Victoria Park Square is situated on the north eastern side of Victoria Park Square on a prominent position overlooking Museum Gardens.
Museum Gardens has often been described as the focal point of Bethnal Green, with numerous shops, bars and Paradise Row Railway Arches in a 200-metre radius. Museum Gardens is also home to world famous V&A Children’s Museum.
1 HSBC2 Iceland3 McDonald’s4 KFC5 Tesco Metro6 Halifax7 The Star of Bethnal Green 8 Cakebox
9 BOXCAR Brewery & Taproom10 Specsavers11 Boots12 The Hive13 Co-op Food14 The Green Truffle15 Sainsbury’s Local16 Bikeworks
Local Occupiers1 York Hall2 Victoria Park3 Queen Mary University4 Columbia Road Flower Market5 Haggerston Park6 V&A Museum of Childhood
7 London Buddhist Centre 8 Bethnal Green Library 9 Bethnal Green Post Office10 Mile End Hospital11 Oval Space12 BP Petrol Station13 Bethnal Green Police Station
Amenities1 The East London Hotel2 Mama Shelter3 Town Hall Hotel4 Travelodge
Hotels
Regent’s Canal
Roman Road
Roman Road
Mare
Stre
et
Mare S
treet C
ambridge H
eath Road
Cam
bridge Heath R
oad
Hackney Road
Bishops Way
Bethnal Green Road
Bethnal Green Road
Cheshire Street
Three Colts Road
Victoria Park Road
Pritchard’s Road
Warner Place
Vallance Road
Sheep Lane
Old Bethnal Green Road
Old Ford Road
Old Ford Road
Columbia Road
Vyner Street
Victoria Park Sq
Globe Road
Sugar Loaf Wlk
Gosset Street
Queensbridge R
oad
Globe Road
Grove Road
Grove Road
CambridgeHeath
BethnalGreen
BethnalGreen
Stepney Green
VictoriaPark
HaggerstonPark
BethnalGreen
GardensWeaversFields
MuseumGardens
MiddletonGreen
OvalSpace
Columbia RoadFlower Market
Mile EndHospital
Broadway Market
Containerville
V&A Museum of Childhood
Queen MaryUniversity of London
18Victoria
ParkSq1
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Surrounding Area Map
18 Victoria Park Sq
Situation
18 Victoria Park Square benefits from excellent connectivity being in close proximity to numerous transport hubs.
Bethnal Green Underground Station is located 160 metres to the west of the property and is served by the Central Line running into Liverpool Street Station in 3 minutes.
Liverpool Street Station is one of London best connected rail stations and is served by the London Underground, National Rail, Overground and from 2022, Crossrail.
Overground
Northern Line
Hammersmith & City LineCircle LineMetropolitan Line
Hackney Downs
London Fields
Cambridge Heath
Bethnal Green
Stratford
3 mins walk
8 mins walk
10 mins cycle
Old Street
Moorgate
Tower Hill
Mile End
Monument
Bank
Midtown / West End
Whitechapel
Aldgate East
Aldgate
Homerton
Hackney Wick
Highbury & Islington
CanonburyDalston Kingsland
18Victoria
ParkSq
District Line
Connections Near & Far
Quick & easy links
Bethnal Green Overground station is located 0.5 miles to the south of the property while Whitechapel Rail Station is located 0.9 miles to the south. From 2022, as well as London Underground services, Whitechapel Station will benefit from the arrival of Crossrail.
Journey times from the building. Source: TfL.
Image of Whitechapel Crossrail Station
Liverpool Street
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A prominent building with a Victorian aesthetic
18 Victoria Park Square offers a highly attractive opportunity to significantly increase massing and create a desirable offering maintaining the buildings rich history and period features.
The prominent corner property comprises a Victorian front building which is arranged over lower ground, ground and three upper levels with fantastic views overlooking Museum Gardens. The front building connects to a larger 1960’s building to the rear. 1
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18 Victoria Park Sq
The Building
The property is arranged over two buildings and provides 11,615 sq ft (1,079 sq m) of commercial accommodation. The front building is an attractive Victorian building boasting many of its coveted original features. The 1960’s rear building provides open plan floor plates with natural light from two elevations.
18 Victoria Park Square offers excellent potential for a wide variety of uses subject to planning.
1 Views overlooking Museum Gardens
2 Ground floor accommodation with courtyard
3 Open plan commercial space
4 Ground floor stairwell
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Floor Sq Ft (GIA) Sq M (GIA)
Second 810 75
First 4,701 437
Ground 5,199 483
Lower Ground 905 84
Total 11,615 1,079
Arranged over four floors with potential for a variety of uses
Lower Ground Floor
905 Sq Ft / 84 Sq M
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SUGAR LOAF WALK
18 Victoria Park Sq
Accommodation
Ground Floor
5,199 Sq Ft / 483 Sq M
First Floor
4,701 Sq Ft /437 Sq M
Second Floor
810 Sq Ft / 75 Sq M
NPlans not to scale. For indicative purposes only.
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SUGAR LOAF WALK
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Office Space Core Terrace
Courtyard
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A great opportunity
18 Victoria Park Square offers significant development potential for a wide variety of uses, subject to the necessary consents.
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Pricing underlined by strong commercial and residential
values within the locality.
Mixture of highly desirable Victorian features and
modern design capabilities.
Extensive views overlooking the park.
Potential for a wide variety of uses including hotel, residential and offices subject to planning.
The site offers potential for a significant refurbishment
and extension to the rear subject to planning.
High growth sub-market with significant development and investment projects taking place
within the immediate vicinity.
18 Victoria Park Sq
Development Potential
Potential to extend
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Exciting opportunity to restore characterful building with the ability to create modern 21st century contemporary building to the rear.
1 Exterior facing Museum Gardens
2 Rear of building
3 Ground floor interior space
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1-3 Barnsbury Square N1
Date: Q4 2020Size: 9,316 sq ftRent: £30.70 per sq ftPP: £6,150,000Cap Val: £660 per sq ft
2-16 Bayford Street E8
Date: Q4 2020Size: 14,802 sq ftRent: -PP: £6,600,000Cap Val: £581 per sq ft
16 Prescott Street E1
Date: Q1 2020Size: 8,772 sq ftRent: -PP: £4,950,000Cap Val: £564 per sq ft
469 Bethnal Green Road E2
Date: Q4 2019Size: 10,014 sq ftRent: -PP: £5,100,000Cap Val: £509 per sq ft
Canal Place 1-3 Sheep Lane E8
Date: Q1 2021Size: 2,110 sq ftRent: £30.70 per sq ftTerm: 10 yearsFloor: 1stTenant: Yeast Bakery Ltd
Cost effective and in demand
Occupier demand in 2021 has significantly increased with businesses across the City Fringe restarting their office searches.
Demand has been primarily driven by the Tech, Media and Creative industries who are craving a return to the office.
Covid-19 has created a two tier market, with tenants demanding cost effective high quality accommodation. This requirement has led to an increase in demand for Grade A office
accommodation in outer core locations with excellent connectivity such as Bethnal Green. However, supply continues to be constrained with a very limited development pipeline over the course of 2021 & 2022.
Non-core locations such as Bethnal Green continue to outperform core locations with occupier demand increasing for cost effective high specification accommodation with excellent local amenities situated in close proximity to major business districts such as the City of London & Shoreditch.
2 Hillman StreetE8
Date: Q1 2021Size: 29,534 sq ftRent: £28.00 per sq ftTerm: 5 yearsFloor: Ground-4th floorTenant: Dept. Work & Pensions
84 Teesdale Street E2
Date: Q3 2020Size: 764 sq ftRent: £36.00 per sq ftTerm: 3 year leaseFloor: 2ndTenant: The Art of Football
Long Street Studios 5-9 Long Street EC2
Date: Q3 2020Size: 1,008 sq ftRent: £50.00 per sq ftTerm: 3 yearsFloor: GroundTenant: Social Blue
Occupational Evidence
Investment Market
18 Victoria Park Sq
Office & Residential Markets
Flat 28 Mulberry House Victoria Park Square E2
Date: Q4 2020Size: 639 sq ftPP: £595,000Cap Val: £929 per sq ft
Flat 27 Minstrel Court Teesdale Close E2
Date: Q4 2020Size: 760 sq ftPP: £580,000Cap Val: £763 per sq ft
Bethnal Green is one of East London’s most popular residential areas and continues to see a steady increase in residential values.
Fuelled by young professionals, first time buyers and local families who are drawn to the area by the excellent connectivity into Central London and abundance of amenities. Average sold house prices within Bethnal Green have seen a 9.24% increase over the past 5 years. Existing flat’s within the immediate area have averaged £800 per sq ft+ when sold in recent years with new build and converted properties exceeding £900 per sq ft+.
A great place for young buyers
Flat 42 Dinmont House Pritchard Road E2
Date: Q2 2021Size: 495 sq ftPP: £360,000Cap Val: £727 per sq ft
Residential Transactions
2 Ainsley Street E2
Date: Q2 2020Size: 720 sq ftPP: £560,000Cap Val: £778 per sq ft
27 Wood Close E2
Date: Q1 2021Size: 631 sq ftPP: £610,000Cap Val: £966 per sq ft
6 Sugar Loaf Walk E2
Date: Q4 2020Size: 638 sq ftPP: £492,000Cap Val: £771 per sq ft
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Pricing
Offers are invited in excess of £4,950,000 subject to contract and exclusive of VAT. This reflects a low capital value of £426 per sq ft.
Compton and Kingsbury Consultants give notice that these particulars are set out as a general outline only for the guidance of 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 Party 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 Compton or Kingsbury Consultants has any authority to make any representation or warranty whatsoever in relation to this property. April 2021.
Designed and produced by Cre8te - 020 3468 5760 - cre8te.london
Julian Meir 07956 949 604 [email protected]
Shaun Simons 07788 423 131 [email protected]
Jordan Oldfield 07736 177 891 [email protected]
Chris Incledon 07787 130 719 [email protected]
Tenure
The property is held freehold under title number’s NGL196034 & 257747.
Contact
Planning
The front building is Grade II* listed. The rear building is not listed. The property is located within the Bethnal Green Gardens Conservation Area.
EPC
A copy of the EPC is available upon request.
VAT
The property is elected for VAT.
Further Information