London Borough of Newham Portfolio_Property for Sale
London Borough of Newham Portfolio_Property for Sale
London, Greater London, UK, EMEA

London Borough of Newham Portfolio

Portfolio description

  • 399-401 High St, Stratford, E15 4QZ
  • 403-405a High St, Stratford, E15 4QZ
  • 405b High Street, Stratford, E15 4QZ
  • 407-409 High St, Stratford, E15 4QZ
  • 411 High Street, Stratford, E15 4QZ
  • 415-417 High St, Stratford, E15 4QZ
  • 179 Upton Lane, E7 9PJ
  • 192-194 The Grove, Stratford E15 1NS
  • 55 Hallsville Road, Canning Town E16 1EE
  • Napier Works, 57-63 Napier Road, 55 Napier Road and 64 Ranelagh Street LONDON E6 2SG
  • 18-28 Fort Street, London E16 2BD
  • 199 Freemasons Road, E16 3PD
  • Land at Alan Hocken Way, E15 3AT
  • The Lamb, Pelley Road, E13 0NL
  • 98-100 Windmill Lane, E15 1PH
  • 57 Leigh Road, E6 2AR
  • Land adj. 83 Churchill Road, E16 3DY


The London Borough of Newham is situated in East London, with a population of 387,576, which is the fourth highest of the London boroughs. It is 5 miles (8 km) east of the City of London, north of the River Thames (the Woolwich Ferry and Woolwich foot tunnel providing the only crossings to the south), bounded by the River Lea to its west and the North Circular Road to its east.

 

Stratford, at the heart of the London Borough of Newham, is famous for the 2012 London Olympics, and has seen considerable regeneration and renewal in recent years, being a desirable residential and business location.

 

Located on Central, Jubilee DLR- Stratford is now more connected than ever with the recent development of Crossrail and the Elizabeth Line allowing commuters to reach Liverpool Street within 7 minutes, Bond Street within 15 minutes and Heathrow Airport within 44 minutes.

...

Investment Highlights

  • Seventeen properties located in the London Borough of Newham, including a substantial block on Stratford High Street
  • Retail, office, ancillary residential, industrial, leisure, and development sites with considerable untapped asset management potential
  • Many assets let on ground rents or concessionary terms
  • Various rent reviews outstanding, with significant reversionary potential
  • Interesting development opportunities (subject to consents)


Process

We are instructed by the London Borough of Newham to seek offers for this portfolio of freehold and leasehold interests held in these assets OR alternatively offers may be considered for individual assets alone. Offers are invited subject to contract, and exclusive of VAT.

Further property information on each of the assets is available within the on-line data-room and bidders are expected to have considered this information prior to submitting offers.

Offers are to be made in writing no later than 12 noon on 12/11/2024, using the proforma below, which is separately downloadable from the JLL listing website. Prospective purchasers are to provide as detailed information as possible, and will be reviewed by our clients, who will then decide with whom heads of terms will be agreed.

Offers should be submitted by email to BOTH of the following:

  • neville.pritchard@jll.com
  • nathank.chan@jll.com

Once received, offers will be acknowledged, and once a decision is made which to accept, bidders will be notified if they have, or have not been successful. Our clients reserve the right to not accept the highest, or any offers, and deal with complete discretion over the prospective sale. Offers should be a specific price, and not a formula designed to provide a margin over competing bids. All sections of the proforma should be completed to allow the offer to be fully considered.


Offer Proforma – Newham Portfolio

Offers are to be submitted using the proforma below:

 

Question

  1. Exact name of prospective purchaser:
  2. Address of the prospective purchaser:
  3. Contact name:
  4. Telephone number:
  5. Email address:
  6. Is the bid for the whole portfolio (Yes/No) ?
  7. If the bid is for a single property, please confirm the Lot Number in the portfolio, and full address. (If more than a single lot please list individually).
  8. Offer level, exclusive of VAT, and subject to contract:
  9. Any other conditions to the offer (Note: offers with fewer conditions will be preferred)
  10. Confirmation the bidder has reviewed the VAT status of the property (where a property is VAT registered, VAT will be payable in addition to the purchase price)
  11. Confirmation that the bidder has reviewed the data-room (Yes/No)
  12. Confirmation that the bidder will contribute a £5000 + VAT contribution to seller legal costs if the offer is accepted (Yes/No)
  13. Confirmation how a purchase will be funded. (eg. Cash buyer / debt required (is a loan agreed or to be sought). Proof of funds will be required prior to progessing with a transaction.
  14. Details of the prospective purchaser’s solicitors, with full address and contact details.
  15. Timescale – prospective purchasers will be expected to work to an unconditional exchange of contracts within 4 weeks of receipt of documentation from the vendors solicitors, with completion a month thereafter. A non-returnable deposit of 10% of the price will be due on exchange of contracts. Please confirm this is agreed (Yes/No)





Vendors Legal Costs

Our clients require prospective purchasers to commit to a contribution to their legal costs in undertaking a sale. Therefore buyers are to commit to an undertaking to contributing £5000 + VAT per property they agree to acquire.


Clawback provisions

The sale contracts will contain a provision that in the event that any assets are sold onward during the 18 months post completion of the portfolio purchase, 30% of any price increase will be due to London Borough of Newham.


Misrepresentation Act

Disclaimer

JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:-

a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;

b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;

c. no person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property;

d. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken.

Where properties are subject to rent reviews or lease renewal negotiations, or legal proceedings are pending or in place, these particulars are issued without prejudice.


SUBJECT TO CONTRACT AND EXCLUSIVE OF VAT

All offers must be submitted in writing before 12 noon on 12/11/2024, by email to:

neville.pritchard@jll.com AND nathank.chan@jll.com


© 2024 Jones Lang LaSalle IP, Inc. 

Attributes

Investment strategy
Opportunistic
Sales process
For sale by informal tender
Number of buildings
17
London Borough of Newham Portfolio (17 Properties)
London Borough of Newham Portfolio (17 Properties)

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Last updated
7 Nov 2024