Doherty Baines has been appointed by Vauxhall Bondway Ltd, as part of a structured disposal by a unit linked investment pension fund, to market the freehold interest in a key site in the Vauxhall Nine Elms Battersea Opportunity Area (VNEB).
The site comprises around 0.7 acres and is currently occupied by Vauxhall Bondway Self Storage in a building of around 100,000 ft² (approx. 9,300 m²). It lies within the Vauxhall Heart Quarter of the VNEB regeneration area, in which there is planning policy support for a tall building cluster comprising a mix of residential, commercial and leisure uses.
The VNEB area is already seeing the early stages of comprehensive regeneration, buoyed by the Government's support for an extension of the Northern Line to Battersea Power Station. Schemes that either have planning or are awaiting a decision include the US Embassy, Ballymore's Embassy Gardens, St George's Wharf Tower, New Covent Garden Market's Garden scheme, Green Property's One Nine Elms, Royal Mail's Nine Elms Parkside and Sainsburys Nine Elms.
It is anticipated that a purchaser will come forward who is keen to be involved in the vision for VNEB by capitalizing on one of the few freehold sites available in the area, and Doherty Baines will be approaching the market in mid-May.