Description
Situated in a prime South Quay location surrounded by major corporates in a range of sectors including finance, tech and education.
South Quay bridge will link new development at South Quay with Canary Wharf and Wood Wharf. It will be designed to accommodate projected pedestrian flows well into the future. It will shorten walking times to the Elizabeth line station and other public transport links, as well as improving access to jobs, retail and other services at Canary Wharf.
Location
Harbour Exchange is a unique Central London estate located in Docklands’ South Quay, surrounded by vibrant local amenities, further enhanced by its proximity to the Canary Wharf Estate. Originally developed as a major office hub, much of the surrounding area is being redeveloped as state of the art residential, including Berkeley’s South Quay Plaza and Galliard’s Millharbour Village.
The building is part of the Harbour Exchange Estate, which comprises ten self-contained buildings on a 7-acre landscaped site. The estate provides piazza style space with access to an extended water frontage with stunning views of Canary Wharf.
3 Harbour Exchange is situated in a prominent position overlooking Marsh Wall to the north and Limeharbour to the east. To the north of the Harbour Exchange Estate is Canary Wharf’s Wood Wharf. The master plan, designed by Allies and Morrison Architects, creates a strong and complementary mix of uses, including residential, phased office space, 550,000 sq ft of shops, restaurants and community uses.
Canary Wharf has a working population of approximately 120,000 people and a further 150,000 people living within a 1-mile radius. It is one of London’s premier business districts, attracting a diverse tenant base from all sectors, and evolving into an established location for health and life sciences. The area offers a wide range of lifestyle activities, over 300 shops, cafés, bars and restaurants. There is a growing residential sector with 2,368 apartments complete and a further 3,500 + in the pipeline. Canary Wharf Group is one of the largest sustainable developers. With over 16.5 acres of parks and waterside gardens across the Estate, a partnership with the Eden Project has seen it establish a blueprint for urban spaces.
Communications to Harbour Exchange are excellent with easy access to London’s efficient and rapidly expanding public transport network. The introduction of the Elizabeth Line has further enhanced connectivity to Canary Wharf, greatly improving journey times through London and providing access to Heathrow Airport in just 39 minutes.
Terms
The building will be sold by way of a transfer of 100% of the equity shares held in an Isle of Man registered Special Purchase Vehicle company holding the property interest.
For sale with vacant possession for £22,000,000 which is equivalent to a low capital value of £240 per sq.ft based upon the current let area.
Alternatively, the building is also available to let on terms by negotiation.
Specifications
- VAV air-conditioning
- Clear floor to ceiling height of 2.7m (3.2m slab to slab)
- Suspended ceiling
- Fully accessible raised floor
- Standby generation potential
- 1:10 sq m occupational density
Planning
3 Harbour Exchange currently holds a planning use for offices.
The building is located in the Isle of Dogs and South Poplar Opportunity Area within Tower Hamlets’ designated Tall Tower Zone and therefore suitable for redevelopment.
Alternatively, the existing building is suitable for conversion to alternative uses including residential using Permitted Development Rights and education.
Interested parties are expected to make their own enquiries into the potential for development. Any changes will require all the necessary consents.
VAT
The building is elected for VAT however it is likely that the sale will be structured as a Transfer of a Going Concern (TOGC)
Situation
Situated in a prime South Quay location surrounded by major corporates in a range of sectors including finance, tech and education.
South Quay bridge will link new development at South Quay with Canary Wharf and Wood Wharf. It will be designed to accommodate projected pedestrian flows well into the future. It will shorten walking times to the Elizabeth line station and other public transport links, as well as improving access to jobs, retail and other services at Canary Wharf.
