Shepherd's Bush Green

8/6/2019 Shepherd's Bush Green

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58 SHEPHERD’S BUSH GREENLONDON W12 PRIME FREEHOLD WEST LONDON HOTEL DEVELOPMENT



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Artists impressions showing the completed refurbishment works





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LOCATIONThe hotel is prominently located opposite Shepherds Bush Common in the heart of Shepherds Bush Green.

Shepherds Bush is an established commercial and residential location approximately 5 kilometres (3 miles) west of Central London. Situated in the London Borough of Hammersmith and Fulham the area houses desirable commercialand residential property which will be further boosted in value by the considerable development activity in the vicinity.

The area benefits from an affluent population and an excellent communications network resulting in a vibranteconomy within close proximity to Kensington, Fulham, Holland Park and Notting Hill.

SITE SITUATIONThe site is centrally located in Shepherds Bush Green and lies within 500 metres of the 17 acre BBC Media Campusand White City, which is a source of major employment and activity in the area.

The main commercial and retail facilities are situated in the West 12 Shopping Centre on the opposite side of theCommon consisting of 43 shops, 2 open air malls, a Vue cinema and an extensive leisure provision. In addition, theinternationally renowned Empire live music venue is 150 metres to the South of the subject site and is host to anumber of exclusive entertainment events throughout the year.

Maps are not to scale. Foridentification purposes only.



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The area is serviced by two Shepherds Bush undergroundstations, within close proximity to the subject property,providing access to the Central and Hammersmith andCity lines. We understand these transport links will befurther improved as part of the Westfield LondonShopping Centre at a cost of £170 million including:

A new Hammersmith & City line station to be calledWood Lane in 2008.

The Central line Shepherds Bush undergroundstation will double in size.

A new station on the West London Railway providingconnections to Clapham Junction, Gatwick, Brightonand Luton.

A new bus station

A new Southern transport interchange connectingthe London Underground, bus, West London Railwayand taxi services.

Consequently, a number of locations and events whichare of great attraction to hotel operators are highlyaccessible, for example:

The West End – accessible within 15 minutes via theCentral line.

Heathrow Airport – Paddington provides a HeathrowExpress service with a journey time of 15 minutes.Paddington can be reached within 10 minutes on theHammersmith and City line. Alternatively Heathrowis within a 30 minutes typical drive time.

Kings Cross and the Channel Tunnel Rail Link arewithin 20 minutes on the Hammersmith and Cityline.

Earl’s Court and Olympic Exhibition Centre are easilyaccessed by bus or taxi with a journey time of 5minutes.

The Olympics - the Central Line provides servicesto Stratford taking approximately 35 minutes.

Wembley and Twickenham international sportingarenas are within 30 minutes travelling time by taxior public transport.

COMMUNICATION LINKSThe site benefits from excellent transport connections:

The property is situated on Shepherd’s Bush Road (A219) providing direct access to the A4 which in turn leads tothe M4 (Junction 1) located 2.5 miles (4.0 km) to the South West. Shepherd’s Bush Green is a hub on the local roadnetwork, with four main roads radiating from the west and three approaching from its eastern apex meeting at theHolland Park Roundabout. This position makes it an essential node for the car and bus network.

BBC

WHITE CITY

NEW WOOD LANE

GOLDHAWK ROAD

SHEPHERD’S BUSH

SHEPHERD’SBUSH MARKET

Shepherd’s BushCommon

The White CityPartnershipMasterplan

Westfield LondonShopping Centre

Hammersmith & City line

Central line

British Rail



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THE PROPOSED HOTEL SITEThe planning permission for the existing building,formerly a cinema, incorporates the conversion to afour star standard hotel of approximately 19,000 sq m(204,516 sq ft) over 12 floors including 4 basementlevels. The Local Authority is very supportive of thedevelopment with planning permission and listedbuilding consent secured in February 2006.

The design requires the retention of the existing façadewhich will add to the hotels character and provide anopportunity to create a distinctive and unique hotel ina prominent location. The extensive area for banqueting,conference, meeting and exhibition space will give thehotel a distinguished market position by allowing itto host events on a scale which few central Londonhotels can provide.

Features include:

Demolition of the existing building with the exceptionof the front façade which must be retained.

186 rooms; discussions with the local authority toincrease the consent to 220 rooms.

583 sq m of retail and 3,000 sq m of leisure facilitiescomprising conference/banqueting, auditorium,meeting and exhibition space and a health club.

A favourable S106 agreement where the principalcontribution is £100,000 towards the redevelopmentof the adjacent Green.

The Planning Permission and Listed Building Consent are available on theLondon Borough of Hammersmith and Fulham website, application reference2005/00831/FUL and 2005/00958/LBC.

Ground Floor

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First Floor

REGENERATION / DEVELOPMENTShepherds Bush will benefit from the two large scaleregeneration projects, namely the Westfield LondonShopping Centre & The White City Partnership Masterplan,which will significantly boost the local economy.

The Westfield London Shopping Centre is within500 metres of the subject property and will be oneof Europe’s largest shopping centres comprisingapproximately 150,000 sq m (1,614,000 sq ft) and 4,500car parking spaces, due for completion in 2008. Thescheme will contain 5 major anchor stores includingHouse of Fraser, Marks & Spencer and Debenhamstogether with over 40 cafés, restaurants and barsand a 14 screen cinema.

The northern section, owned by the White CityPartnership, are in the early stages of master planninga comprehensive mixed use redevelopment of approximately 372,000 sq m (4 million sq ft).

As part of the regeneration initiatives Shepherds BushCommon and the surrounding highways are to beredesigned to enhance the quality of the open spaceusing funds of £12 million provided by the LocalAuthority. It is anticipated that these large regenerationprojects, coupled with the major attraction of the BBCMedia Campus, will transform Shepherds Bush into athriving high quality urban centre where people exercisea choice to live, work and visit for its retail, leisure andcultural experiences.

Above and below:Artistsimpressions showing the newshopping centre at White Cityand the new transportinfrastructure

Not to scale. For identificationpurposes only.



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LONDON HOTEL MARKETThe security alerts of recent years have had little impacton the London hospitality sector with the capitals visitornumbers continuing to grow. In 2006 approximately 25million tourists visited London of which 53.6%accounted for overseas visitors with 20% originatingfrom the USA. TRI Hospitality Consulting annualstatistics reveal London hotels have had their strongestyear since 2000 with occupancy rates of 83.9%.

According to TRI, the strongest area of growth is at thetop end of the market (room rate category exceeding£135) with particular growth in the corporate sector. Thedevelopment design falls within this category and withthe substantial corporate facility will enable it to takeadvantage of the continuing demand.

MICRO HOTEL MARKETThe local hotel market is dominated by budget to poorquality accommodation. Inferior standard hotels, such asthe K West and the Hilton Kensington, are positionedfurther away from the employment and business centresof White City and the BBC Media Campus. Consequently,the subject site provides an opportunity to create asuperior standard hotel in a closer and more accessiblelocation.

Pending the selection of the hotel operator, the BBC haveexpressed interest in placing a guarantee for 50 roomsannually. The area lacks the presence of upper to superiorstyle hotels with the BBC resorting to high transportationcosts for employees and guests travelling to the capitalon business.

TENUREFreehold.

Proposed East Elevation

PRICEOffers in excess of £26 million subject to contract andexclusive of VAT.

Proposed North East View

Proposed East Cross Section

Not to scale. For identification purposes only. This plan is based upon the Ordnance Survey Map with the sanction of the controller of H.M. Stationery Office. Crown Copyright reserved.



FURTHER INFORMATION

Mark ShipmanDirect Line: 020 7529 5708Email: [email protected]

Michael Elliott53 Brooks MewsLondonW1K 4EF

www.michaelelliott.co.uk

David HarrisonDirect Line: 020 7529 5705Email: [email protected]

Misrepresentation Act 1967 Conditions under which particulars are issued: Messrs Michael Elliott LLP for themselves and for the vendor of this property, whose agentsthey are give notice that:1. These particulars do not constitute, nor constitute any part of, an offer or contract. 2. None of the statements contained in these particulars as to this property is to berelied on as a statement or representation of fact. 3. Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of thestatements contained in these particulars. 4. The vendor does not make or give, and neither Messrs Michael Elliott LLP nor any person in their employment has anyauthority to make or give, any representation or warranty whatever in relation to this property.Finance Act 1989: Unless otherwise stated all prices and rents are quoted exclusive of VAT.Property Misdescription Act 1991: These details are believed to be correct at the time of compilation but may be subject to subsequent amendment.June 2007

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Shepherd's Bush Green