Description
The property forms part of the six storey mixed use Queens Wharf development which was completed in 2019. Riverside Studios occupy the basement, ground, first and part second floors of this building.

Ground Floor: The main entrance leads to the the foyer/reception and main bar/brasserie, with capacity of 120 internal and additional external covers and a small coffee shop. The majority of the ground floor footprint is then occupied by the three studios. Studio 1 (which is exclusively occupied by Riverside TV Studios Limited can accommodate retractable seating for 350 (standing 500), Studio 2 for 400 and Studio 3 for 200. Also located at this level on the southern riverside frontage is Sam’s Riverside (a high quality restaurant/bar occupied exclusively by Genuine Restaurants Limited) and the River Room which is a smaller events and performing space. To the rear of the ground floor is a scene dock and workshop and retail unit Sam’s Larder, accessed from Crisp Road.

Basement: The basement primarily consists of two cinema screens with 208 and 47 seats respectively and an associated cinema foyer bar. Additionally, there are 19 dressing rooms (7 of which are exclusively occupied by Riverside TV Studios Limited, a number of which have en-suite bathrooms, together with 8 sound/ lighting/production rooms, a green room, laundry, lighting gallery, 2 staff welfare rooms, 3 sets of male and female WC’s, voice over booth room, runners room and a variety of other plant and storage rooms. In addition, 12 car parking spaces (4 of which are occupied by Riverside TV Studios Limited and cycle storage are located in the basement. A number of these areas are demised to Riverside TV Studios Limited, further details of which are available upon request.

First Floor: The first floor accommodation mainly comprises office space with the remainder of the space occupied by the height of the ground floor studios, atrium and scene dock. The main office accommodation is accessed off a central corridor which wraps around the void over the ground floor foyer and benefits from ample natural light from the glass roof above. Some of the offices are occupied by Riverside Studios, one partially let to Stingray Digital International Limited and the others currently vacant. The control room for Studio 3 is also at this level.

Second Floor: The second floor accommodates a self-contained office suite which is occasionally used for rehearsal space. This office space benefits from its own separate access from Queen Caroline Street and can be accessed by stairs or lift.

Planning
Our enquires of the local authority have revealed that the property is not listed but is located in the Fulham Reach Conservation Area. Planning permission was granted in January 2014 and is subject to a number of conditions secured by way of a section 106 agreement. The principal use of the premises must be an arts and entertainment facility with specified ancillary uses. Further details are available via the following link.

EPC
B-28.

Tenure and Tenancy
The property is held on a long leasehold agreement for a term of 200 years from 7 October 2014 (unexpired term of 191 years) at a peppercorn rent. The user provisions of the long leasehold interest permit the property to be used as a television and film recording studio, theatre, cinema, dressing room, corporate entertainment space, restaurant, café and bar and other uses for the sale of food and drink. Assignees will be required to enter into a deed of covenant with the Council to observe the restriction on use.

The property is currently let to three tenants by way of five leases which are summarised in the table below. It is worth nothing that 309 sq m of space is being used for ad hoc hires which will generate additional rental income once let, as will the 209 sq m second floor office and other first floor office spaces, which can also be sub-let. Office space within the scheme is currently being marketed at a guide rent of £47.50 per square foot.

Service Charge
The property is subject to a service charge further details of which are available upon request.

The Occupational Tenants
Riverside Studios is currently part occupied by three different sub-tenants who occupy the property under four separate lease agreements.

Riverside TV Studios Limited (www.riversidetv.co.uk) currently occupy Studio 1, 7 of the dressing rooms and a number of the other ancillary rooms at basement level on a lease which expires in November 2039. Since the opening of the new Riverside Studios in 2019 the company have hosted a variety of shows in Studio 1 including the following;

• Have I Got News For You
• The Apprentice – Your Fired
• Richard Osman’s House of Games
• Top Of The Pops
• Peter Crouch Save Our Summer
• Sorry I Didn’t Know
• Mel Giedroyc: Unforgivable

Genuine Restaurants Limited currently operate the Sam’s Riverside Restaurant www.samsriverside.co.uk and Sam’s Larder (www.samslarder.co.uk) on site under two separate agreements, both of which expire in November 2039. The businesses are owned by Sam Harrison and Fanny Stocker who have successfully operated hospitality businesses in West London for a number of years. Sam’s Riverside has a current Google Review rating of 4.7 stars and a TripAdvisor rating of 4.5. Sam’s Larder, which also has outlets in Chiswick and Brentford, has a Google Review rating of 5.0.

Stingray Digital International Limited currently occupy office accommodation on the first floor of Riverside Studios by way of an agreement which expires in March 2024. The company deliver digitally transmitted programs to subscribers throughout Europe and Latin America and are a wholly owned subsidiary of Music Choice Limited. The ultimate parent undertaking is Stingray Group Inc. who are incorporated in Canada (www.stringray.com).

Business Rates
Rateable Value 1st April 2023 - £206,000

VAT
Please note that the property is elected for VAT which will be payable in addition to the purchase price should TOGC relief not be available to the purchaser.

Terms
Substantial offers are invited for the benefit of our client’s long leasehold interest which will be sold with vacant possession with the exception of those areas currently subject to occupational subleases and set out on page 6 of our brochure.

The occupational businesses which are separately sub-let will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.

Viewings & Contacts
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the staff employed at the venue.

For further information and all viewing requests please contact the sole selling agents Savills.