4-9 GLADSTONE PARADE

EDGWARE ROAD, CRICKLEWOOD, LONDON, NW2 6JS NORTH WEST LONDON RESIDENTIAL LED MIXED USE DEVELOPMENT OPPORTUNITY FOR SALE FREEHOLD WITH VACANT POSSESSION EXECUTIVE SUMMARY

A residential-led mixed use development opportunity in Cricklewood, North West London.

The site extends to 0.18 hectares (0.43 acres) and comprises a three storey retail parade with residential apartments on upper floors.

The site has a resolution to grant planning consent for a mixed use scheme comprising 54 residential units and 21 car parking spaces with a total residential NSA of 3,578 sq m (40,448 sq ft) and 4 commercial units extending to 420 sq m (4,519 sq ft) GIA at ground floor level.

Situated approximately 950 metres north west of Cricklewood station, which provides Thameslink services into London St Pancras and connects with the London Underground (Jubilee Line) at West Hampstead. It is also approximately 500 metres south of the new Brent Cross West Station which is due to open in 2022.

For sale freehold with vacant possession.

4-9 GLADSTONE PARADE, EDGWARE ROAD, LONDON, NW2 6JS 2 LOCATION

The site is located in Cricklewood, North West London. All distances and travel times taken from Google Maps (www.google.co.uk/maps) and (TfL tfl.gov.uk/)

West Hampstead and Kilburn are to the south and Brent Cross is to the north, with Brent Cross shopping centre 1.2 kilometres (0.7 miles) directly north of the site. Brent Cross is experiencing significant investment in infrastructure, housing and the retail and leisure facilities. Plans are in place for extensions and improvements to the existing shopping centre, the creation of a new town centre and upgrades to local parks alongside further new green spaces. THE SITE A wide range of amenities are provided on Edgware Road, including supermarkets, cafés, restaurants and gyms. Gladstone Open Space and Gladstone Park are located approximately 500 metres and 900 metres west of the site, providing extensive open green spaces.

Cricklewood Rail Station is approximately 950 metres to the south east and provides Thameslink services to London St Pancras International (11 minutes), and London Blackfriars (23 minutes) and connects with the London Underground (Jubilee Line) at West Hampstead. It is also approximately 500 metres south of the new Brent Cross West Station which is due to open in 2022.

There are regular bus services running from Edgware Road to Central London and local destinations.

4-9 GLADSTONE PARADE, EDGWARE ROAD, LONDON, NW2 6JS 3 THE SITE

SITE PLAN The site extends to approximately 0.18 hectares (0.43 acres) and comprises a three storey retail parade with residential apartments on upper floors and seven commercial units at ground floor level.

All of the internal elements have been stripped out with just the shell of the building remaining. The garages and gardens which were to the rear of the site have also been removed. The site fronts the A5 (Edgware Road), and is bound by Gladstone Park Gardens and Dollis Hill Avenue to the south east and north west, respectively. To the rear, the site is bound by two storey terraced and semi-detached houses with private rear gardens which front Gladstone Park Gardens and Dollis Hill Avenue. To the east, on the opposite side of Edgware Road are commercial buildings.

NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

4-9 GLADSTONE PARADE, EDGWARE ROAD, LONDON, NW2 6JS 4

Ordnance Survey © Crown Copyright 2020. All Rights Reserved. Licence number 100022432 Plotted Scale - 1:1250. Paper Size - A4 THE SITE

VIEW OF THE SITE FROM A5 (EDGWARE ROAD)

4-9 GLADSTONE PARADE, EDGWARE ROAD, LONDON, NW2 6JS 5 PLANNING & DEVELOPMENT POTENTIAL

The property is within the jurisdiction of the London Borough of Brent. It is not listed nor is it located within a conversation area. The site has a resolution to grant planning consent (Planning Reference: 18/4777) for:

“Demolition of the existing mixed used building and garages and construction of a part three to six storey building providing 225 sqm of flexible retail floorspace for shops/ financial professional services (Use Class A1/A2) and hot food takeaway (Use class A5) and 155 sqm for public house (Use Class A4) at ground floor level, and 54 residential units (Use Class C3) comprising 22 x 1 bed, 18 x 2 bed and 14 x 3 bed units with associated car and cycle parking spaces, bin stores and landscaping.”

CIL

The LB Brent committee report provides an estimated CIL liability of £1,209,530.7. Note that this figure does not allow for affordable housing relief and will be subject to indexation and interested parties should undertake their own calculation.

Section 106

The scheme is subject to a Section 106 Agreement which is currently in draft form and details the following index linked financial contribution:

CPZ Contribution - £27,000

Agreement for Lease

Retail Unit 4 (A5 – Hot Food Takeaway)

Agreement for lease to Bayram Guvercin and Murat Eldeniz for a term of 10 years at a rent of £13,500 + VAT per annum based on the consented planning drawings and areas.

4-9 GLADSTONE PARADE, EDGWARE ROAD, LONDON, NW2 6JS 6 PLANNING & DEVELOPMENT POTENTIAL

Proposed accommodation schedule

Residential Accommodation: Commercial Accommodation:

Floor GIA NIA Floor GIA

Sq M Sq Ft Sq M Sq Ft Sq M Sq Ft

Ground 450 4,838 159 1,716 Unit 1 141 1,660

First 1,036 11,155 894 9,622 Unit 2 64 687

Second 1,005 10,820 867 9,331 Unit 3 91 977

Third 846 9,109 720 7,745 Unit 4 60 648

Fourth 777 8,361 652 7,019 Total 356 3,834

Fifth 560 6,031 466 5,016 Refuse stores, cycle store, and partitions between units* Total 4,674 50,314 3,758 40,448 NIA

Excluding* 380 4,096

Including* 420 4,519

Private Sale Shared Ownership Social Rent

Type Units Sq M Sq Ft Units Sq M Sq Ft Units Sq M Sq Ft

1-Bed 18 1,003.2 10,799 - - - 4 218.2 2,349

2-Bed 13 911.7 9,813 3 224.8 2,419 2 138.4 1,489

3-Bed 7 606.7 6,530 2 158.6 1,707 5 496.2 5,341

Total 38 2,521.6 27,142 5 383.4 4,127 11 852.80 9,179

4-9 GLADSTONE PARADE, EDGWARE ROAD, LONDON, NW2 6JS 7 CONTACT For further information please contact:

VANDERMOLEN REAL ESTATE METHOD OF SALE

The property will be sold by way of informal tender (unless sold prior). Jonathan Vandermolen Sam Phillips A date for the submission of offers will be confirmed. [email protected] [email protected] 020 7290 2828 020 3971 6066 07831 509965 07956 341581 TENURE The property is for sale freehold with vacant possession. Zach Harris [email protected] 020 3971 6060 VIEWINGS 07540 612327 The site can be viewed from Edgware Road and Gladstone Park Gardens. Prospective purchasers should be made aware that inspections are made entirely at their own risk and no liability is accepted by the owner or their agents.

SAVILLS UK VAT Darren Arnold Sean Cooper We understand that the property is not elected for VAT. [email protected] [email protected] 020 7409 9926 020 7409 9948 07967 555521 07807 999521 FURTHER INFORMATION

Hugh Bushell Further information including planning, technical and legal [email protected] documentation is available at: 020 7409 9926 https://sites.savills.com/4_to_9_Gladstone_Parade 07976 747629

IMPORTANT NOTICE Maps are reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd, and published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

Savills, Vandermolen Real Estate and their clients 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. June 2020.