| Property Type | Land & Buildings / Investments / Offices |
| Tenure | For Sale |
| Size | 90,814 sq ft |
| Price | £22,000,000 |
| Business Rates | £12.37 per sq ft |
| Service Charge | £12.67 per sq ft |
| VAT | Applicable. (Likely to be sold as a TOGC) |
| Energy Performance Rating | This property has been graded as E (122) |
The Harbour Exchange Estate is a collection of striking office buildings offering a piazza–style commercial campus surrounded by attractive landscaped public realm and unique water frontage overlooking the world renowned Canary Wharf Estate.
3 Harbour Exchange is an attractive glass-clad office development occupying an island site on the northern tip of the estate within easy walking distance of the South Quay DLR station. The property was originally completed in 1988 and provides approximately 90,814 sq ft (8,436.9 sq m) of highly specified office accommodation over ground and ten upper floors. The property has been refurbished recently to include a new reception, enhanced communal areas, external canopy, remodelling of the landscape and a comprehensive renovation of the office floors. The building is of concrete frame construction with a distinctive reflective floor to ceiling double glazing.
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.
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.
The property provides flexible open plan floor plates of approximately 8,400 sq ft. The floors benefit from exceptional levels of natural light and stunning panoramic views across Central London. The floor plates wrap around a central core with two secondary cores situated either end of the building, each incorporating a firefighting / goods lifts and emergency stairs. The property has the following approximate net internal floor areas:
| Name | sq ft | sq m |
|---|---|---|
| 10th | 8,407 | 781.04 |
| 9th | 8,402 | 780.57 |
| 8th | 8,095 | 752.05 |
| 7th | 8,303 | 771.37 |
| 6th | 8,275 | 768.77 |
| 5th | 8,292 | 770.35 |
| 4th | 7,887 | 732.73 |
| 3rd | 7,814 | 725.94 |
| 2nd | 8,383 | 778.81 |
| 1st | 8,381 | 778.62 |
| Ground | 8,575 | 796.64 |
| Total | 90,814 | 8,436.89 |
VAV air-conditioning
Clear floor to ceiling height of 2.7m (3.2m slab to slab)
Suspended ceiling
Fully accessible raised floor
1:10 sq m occupational density
Situated in LB Tower Hamlets within the Isle of Dogs & South Poplar Opportunity Area and a designated Tall Tower Zone.
The building currently holds Class E office use and is suitable for retrofitting for continued office use, or conversion to alternative uses (including Permitted Development Rights for residential) or tall tower redevelopment subject to all necessary consents.
The building is elected for VAT however it is likely that the sale will be structured as a Transfer of a Going Concern (TOGC)
Long-leasehold interest being sold.
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 income at £22,000,000 reflecting a 10.54% Net Initial Yield which is equivalent to a low capital value of £242 per sq.ft based upon the current let area and allowing for 1.8% purchasers costs.
