Sutton Works Operator

Tender description

The London Borough of Sutton (LBS), has a hugely ambitious plan to regenerate Sutton Town Centre. Developing new forms of workspace to replace space lost to permitted development is a key pillar of our regeneration ambition as we look to increase the economic vitality of the High Street and take advantage of the London Cancer Hub (LCH) development https://www.londoncancerhub.org/. LBS is actively investing to diversify the Town Centre and in October 2019, completed the purchase of 140 High Street. This former BHS department store is now occupied by H&M over the majority of the ground and part 1st floors. The building contains an additional c.35,000 sq. ft (GIA) of vacant space which has been stripped to a shell condition. Comprising both former shop floor and storage areas, the vacant parts benefit from excellent ceiling heights and offer a fantastic opportunity for repurposing to an innovative workspace. The project represents a unique opportunity for a dynamic operator who has experience of delivering regeneration focused projects to partner with the Council. The Sutton Works project is backed by the GLA's Good Growth Fund and the Strategic Investment Pot (SIP) Business Rates Retention scheme. Sutton Works will have a transformational regeneration effect on the Town Centre and be recognised as the most creative and innovative refurbishment of a former BHS store. The building occupies a prominent central position on Sutton High Street and is located 0.3 miles from Sutton Station. Directly opposite is the Council owned Times Square car park. Sutton Station benefits from Southern and Thameslink services with regular trains to Central London. It is also connected to the affluent surrounding Surrey commuter belt. London Victoria (29 min); London Bridge (32 min); London Blackfriars (38 min); City Thameslink (40 min); St Pancras International (47 min) There is easy access to the Northern Line via Morden Underground Station which is 2.9 miles from the building and serviced via bus (15 minutes). The vacant parts of the building that will form Sutton Works, are arranged over part ground, part 1st, 2nd and 3rd floors. There is also a redundant plant room on the 4th floor and two large flat roof areas. The total floor space currently available within the building is approximately 35,000 sq. ft (3,250 sq. m) GIA. The building has an extremely large footprint which offers opportunities to extend the accommodation. Extending and reconfiguring the building will be explored with the appointed operator during the design stage of the project. It is estimated that the design and construction stages of the project will be for 13-16 months.London Borough of Sutton expect to grant a full repairing and insuring lease for a period of 10-15 years