RAINE HOUSE 2-12 BEAUMONT GROVE AND 1, 2 & 3 LOUISA STREET - Savills
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R A INE HOUSE
2-12 BEAUMONT GROVE AND 1, 2 & 3 LOUISA STREET
LONDON E1
An exciting opportunity
with potential for a variety
of uses in a fast evolving
WHITECHAPEL ANCHOR RETAIL PARK
part of London.
GENESIS CINEMA
E XE CU T I V E SUMM A R Y
> Situated just off Mile End Road (A11), in one of London’s
most fashionable sub markets and strategically
STEPNEY GREEN
R A INE HOUSE
2-12 BEAUMONT GROVE AND 1, 2 & 3 LOUISA STREET
positioned between The Royal London Hospital and
Queen Mary’s University.
> Excellent transport connectivity being situated opposite
Stepney Green Underground station and within 800
metres (0.5 miles) of Whitechapel Elizabeth Line Station
> Existing building comprises 1,477.6 sq m (15,905
sq ft) GIA of office and day care (Use Class E)
accommodation arranged over ground and two upper
floors
MILE END ROAD (A11) > The two upper floors and part of the ground floor is
single let to Salamon and Seaber. The majority of the
ground floor will be sold vacant
> Total passing rent of £90,000 per annum
> Full vacant possession is achievable by February 2024
> Potential to redevelop the existing building, add
massing and increase the GIA by c.50% to 2,227 sq m
(23,971 sq ft), subject to planning
> Potential for alternative uses, including residential and
life sciences, subject to any necessary consents
> Offers are invited in excess of £5,500,000 subject to
contract and exclusive of VAT, reflecting a low capital
value of £345 per sq ft on the existing GIA
1|2
Property from Beaumont Grove
DE SCRIP T I ON T E N A NC Y SCHE DUL E
Raine House is a purpose built office and day care building comprising 1,477.6 sq m Floor GIA (Sq m) GIA (Sq ft) Tenant Lease Start Lease Lease Rent (Per
Break Expiry Annum)
(15,905 sq ft) GIA arranged over ground and two upper floors.
2 144.2 1,552
The day centre facilities are at ground level with the office accommodation across the 1st and 2nd floor. Vehicular Salamon & 03/02/2024 /
access to the property is located via a shared accessway off Beaumont Grove between nos.2-4 and no 6. Beaumont 1 749.7 8,070 04/02/2014 03/02/2030 £90,000
Seaber Ltd 03/02/2026
Grove and a second access to a rear courtyard via Louisa Street. G 106.3 1,144
G 477.4 5,139 Vacant - - - -
Total 1,477.6 15,905 £90,000
3|4
Property from Louisa Street
5|6
FIRST FLOOR
FL OOR PL A NS
LET TO TENANT SOLD VACANT
GROUND FLOOR
Office 1
Lab 04
Storage 2
Lab 01
Kitchen
Office
WC
Office 2
Plant Room
Storage 2 Storage 1
Lab 02
WC 3
WC 1
Circulation
WC 2
Office 3
Lab 03
Circulation 3
Archive
Kitchen Office 3 Office 2 Office 1
Storage 1
No Access - Room 1
Office 4
Office 6
Lounge
Salon/ Hairdresser Office 7
Office 5
Loading Bay
Storage 3
SECOND FLOOR
Reception
Covered Area - Garage
Plans not to scale. For Identification purposes only.
7|8
PL A NNING
The property is located in the London As a result of the new Use Class E, the entire property can now be used for
Borough of Tower Hamlets. The the following uses, without the need for a change of use planning application:-
property is located in the Stepney
Green Conservation Area. The
property is not listed. There is a > Shops > Financial/Professional Services
Grade II Listed terrace located on the
southern side of Louisa Street. > Restaurants/Cafes > Creche/Nursery
The whole property is in Class E Use > Offices > Medical/Health Services
(Commercial, Business and Service).
The Day Care Centre element of > Light Industrial > R&D / Laboratory
the building would previously have
been a D1 Use and the remainder
A Planning Summary Note prepared by HGH Consulting is available on the
in Use Class B1(b) (Research and
dataroom.
development of products and
processes).
CGI of feasibility study
T HE OPP OR T UNI T Y L IF E SCIE NCE S
Raine House provides various opportunities to The property is in the London Borough of Tower Hamlets,
substantially reposition the existing building through which has been identified as an area for new development
refurbishment, redevelopment or alternative uses. particularly in the Biotech and Life Sciences sectors. NHS
Property Services has submitted plans for a Life Science
BR3 architects have designed a commercial scheme that centre on parcels of land next to Royal London Hospital.
increases the existing buildings gross internal area by
c.50%, to provide a total GIA of c.2,227 sq m (23,971 sq ft) The scheme, which will comprise c.1 million sq ft, will
brand new office accommodation. The proposed scheme provide flexible space for life sciences activities, commercial
provides the opportunity to add massing with a new 3rd accommodation and open public space. Queen Mary
and 4th floor, significantly improve the buildings internal University has agreed to take a major stake in the scheme
layout to serve modern day office standards, and deliver as part of their vision, along with Barts Health NHS Trust,
enhanced servicing and amenity. to establish this area of East London as a major centre of
excellence in Life Sciences.
Floor Sq m GIA Sq ft GIA
Given the generous floor to ceiling heights at Raine House,
Ground 618 6,652 the potential exists for Life Sciences use.
First 753 8,105
Second 503 5,414
Third 353 3,800
Total 2,227 23,971
CGI of feasibility study
9 | 10
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Raine House is located in East London Green S tre
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opposite Stepney Green Underground Ce rne
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Ald
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Station within a vibrant mixed use quarter
Wilmot St
Cephas Avenue
Cephas Street
experiencing substantial development. St
ood Stre
The building is located 2km (1.3 miles) to Bartholmew
Anchor rk
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the East of the City of London within the Roa
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Stepney End
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R A INE HOUSE
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Royal London Hospital Stepney
Green Park
Stepney Way
The area benefits from an array The evolution of the area is set to
of amenities, with national and continue with the opening of the
independent retailers, bars, Elizabeth Line (Crossrail) in 2022
restaurants and cafes. In addition at Whitechapel, and the £300m
to this, the area is home to various ongoing Whitechapel regeneration
large new office schemes, major masterplan. The plan will revitalise
residential redevelopments, this part of East London with a £300M WHITECHAPEL £105M NEW URBAN QUARTER OF
student housing, and one of £105m new town hall, a new Barts MASTERPLAN TOWN HALL 3,500 NEW HOMES
London’s largest self-contained Life Sciences medical research
residential campus, the prestigious campus, and an urban quarter of
Queen Mary University, which has 3,500 new homes, commercial
over 16,000 enrolled students and accommodation offering over
is within 300m of Raine House. 5,000 jobs, and public spaces.
The area is also home to the
Royal London Hospital, London’s
largest hospital site, and the BMI
Independent Hospital which is
within 350m of Raine House. NEW BARTS COMMERCIAL RANKED 3RD IN TELEGRAPH’S
LIFE SCIENCES MEDICAL ACCOMMODATION OFFERING TOP 20 PLACES TO INVEST
RESEARCH CAMPUS 5,000 JOBS IN LONDON
11 | 12
NEARBY TUBE STATIONS BETHNAL GREEN
(1,000m)
WHITECHAPEL
(750m)
STEPNEY GREEN
(Opposite)
CONNE C T I V I T Y
A ND CROSSR A IL
Raine House is extremely well connected being situated opposite Stepney Green
underground station (District Line and Hammersmith & City) and 750 metres from the THE ELIZABETH LINE (CROSSRAIL)
Whitechapel Elizabeth Line (Crossrail) entrance on Cambridge Heath Road. The Elizabeth Line (Crossrail) is Europe’s largest The new Whitechapel Elizabeth Line station will use
infrastructure project which, once completed, will the existing Whitechapel Road entrance to the London
comprise a 100km east-west underground line. It will Underground and London Overground station, with a new
bring an additional 1.5 million people within 45 minutes separate entrance onto Cambridge Heath Road providing
commuting distance of London’s key business districts. access to all lines and within a 10 minutes walk of Raine
Around 200 million passengers will travel on the Elizabeth House
Line each year and the route will provide a 10% increase to
rail capacity in the capital.
Stratford
5 mins
Reading Heathrow Bond Street Farringdon
63 mins 38 mins 10 mins 5 mins
Whitechapel
Slough Paddington Tottenham Liverpool
41 mins 13 mins Court Road Street
7 mins 2 mins Canary Wharf
3 mins
13 | 14
F UR T HE R
INF ORM AT I ON
EPC
The property has an EPC rating of D. The certificate and
recommendation report are available on the dataroom.
METHOD OF SALE AND TENURE
The property is held Freehold under title numbers
LN23874 and NGL211671. The building is also held as
part Long (good) Leasehold under title number 461333.
These interests are for sale via informal tender (unless
sold prior).
VAT
The property is not elected for VAT
DATAROOM
Further detailed information relating to the property is
available via the dataroom:
www.rainehousee1.com
PROPOSAL
Offers are invited in excess of £5,500,000 subject to
contract and exclusive of VAT, reflecting a low capital
value of £345 per sq ft on the existing GIA.
Junction of Louisa Street and Beaumont Grove
15 | 16
KE Y CON TA C T S
For further information please contact:
SAVILLS COMPTON
Darren Arnold Shaun Simons
020 7409 9926 07788 423 131
darnold@savills.com ss@compton.london
Sean Cooper Kyle Joss
020 7409 9948 07712 241 851
scooper@savills.com kj@compton.london
Hugh Bushell Milton Karamani
020 7075 2860 07720 070 466
hbushell@savills.com mk@compton.london
On the instructions of:
Important Notice
Savills, their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in
relation to the property either here or elsewhere, either on their own behalf
or on behalf of their client or otherwise. They assume no responsibility for any
statement that may be made in these particulars. These particulars do not form
part of any offer or contract and must not be relied upon as statements or
representations of fact.
2. Any areas, measurements or distances are approximate. The text, photographs
and plans are for guidance only and are not necessarily comprehensive. It should
not be assumed that the property has all necessary planning, building regulation
or other consents and Savills have not tested any services, equipment or
facilities. Purchasers must satisfy themselves by inspection or otherwise.
Designed and Produced by Savills Marketing: 020 7499 8644 | March 2022You can also read
