A THE LOCATION 08
THE SITE 14
THE SCHEME 18
BLOCK A 22
BLOCK B 24
BLOCK C 26
BLOCK D 28
BLOCK E1 30
BLOCK E2 32
BLOCK F 34
PFS SITE 36
MARKET COMMENTARY 38
FURTHER INFORMATION 42 New Camden Quarter
New Camden Quarter represents a new landmark mixed use development opportunity located between vibrant Camden and affluent Primrose Hill
A unique central London opportunity to provide a truly mixed use scheme incorporating residential, office and retail including the re-delivery of a new Morrisons store
Camden’s bustling town centre situated a stone’s throw to the south of the site providing extensive amenity and key transport connections
A resolution to grant planning consent for the redevelopment of the 8 acre site has been obtained to deliver 573 apartments alongside substantial office and retail including provision of a new Morrisons store and petrol filling station (Camden planning ref. 2017/3847/P)
The supply of quality new build residential in the locality is limited, providing an exciting opportunity for a purchaser to develop a new product for the market. In addition, the demand for office space is flourishing with a number of recent high profile occupiers entering the Camden market.
2 3 CANARY WHARF THE SHARD
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CAMDEN MARKET PRIMROSE HILL THE LOCATION THE NEW QUARTER WILL BE NESTLED BETWEEN CAMDEN LGOF$GF=G>FGJL@DGF 6 7 THE Primrose Hill LOCATION Deriving it’s name from the flower that covered LOCAL OCCUPIERS it, Primrose Hill was once used as a Royal hunting ground. In the mid-19th Century the New Camden Quarter will become a new destination responding to Camden surrounding areas began to be developed and RESTAURANTS soon blossomed to the area as we know it today 1 Town’s renowned alternative creativity and Primrose Hill’s quaint village feel. characterised by Victorian villas and terraces Mildreds Camden This new destination will no doubt add to the continued desirability of this along the quaint streets. 2 The Blues Kitchen 3 Porkys BBQ well-connected pocket of North London steeped in history. 4 J=?=FLKH9JC Q Grill 5 Poppies Fish & Chips This Grade I listed park covers an expanse of 6 Bintang 410 acres and plays host to gardens, a boating 7 Sushi Waka area, sports pitches and children’s playgrounds. 8 Namaasté Kitchen To the north is Primrose Hill offering fantastic views of Central London to the South East. Camden Town BARS 9 Brewdog 10 Camden Assembly 11 Joe’s Bar Formerly the main artery supplying London with goods from 12 Lockside Lounge England’s industrial north, the Regent’s Canal is no longer a 13 Fity-five means to get from A to B but a destination in its own right. 14 Proud Camden The towpath now hums with dog-walkers, joggers and cyclists travelling from upmarket Primrose Hill, Regent’s Park to the west and buzzing Islington to the east. Camden Lock MUSIC Market is a popular stopping point being one of the world’s most famous markets with a plethora of artisan goods and 15 The Roundhouse memorabilia. 16 Dingwalls 17 The Dublin Castle Rail has formed an important part in the history of Camden. 18 The Jazz Café The iconic Roundhouse began life in 1847 as a railway 19 Electric Ballroom turntable. The establishment of Euston, King’s Cross and 20 Green Note St Pancras stations drove a new wave of development in the nineteenth century, and their recent modernisation has sparked one of Europe’s largest regeneration schemes. ATTRACTIONS The stations provide easy transport around London and 21 connect Camden to vast swathes of the country and even Primrose Hill Europe via the Eurostar. 22 Stables Market 23 The Canal Considered a major creative media and advertising hub 24 ZSL London Zoo within London, Camden is one of the key points of the Soho 25 Camden Beach – Clerkenwell media triangle. Google’s recent commitment to base its London headquarters in King’s Cross, its first wholly owned and designed building outside the US, is the CAMDEN MARKET largest and latest in a multitude of businesses primarily in the media, cultural and creative sectors attracted by the areas Amongst the world’s most famous unique atmosphere. ;9E<=FK 8 9 C H A L K F T S M LOCAL OCCUPIERS A E URRAY STREET T D R E M R P A A Y R T O O O S N R P A RESTAURANTS OAD C R ADELAIDE R D R R N K I D A E M 11 S O D 1 W R W Mildreds Camden O 6 O CHALK FARM 15 A M 25 M Y A A 2 S The Blues Kitchen R Y E 10 C A 3 H H Porkys BBQ I 4 L Q Grill L 4 VE O 222 R 5 R G AD R Poppies Fish & Chips O NRY’S RO 14 A KING HE G STUNNING A 6 A Bintang D 7 3 VIEWS OF CAMDEN ROAD Sushi Waka 8 G Namaasté Kitchen LONDON L O Camden Market U C E S R BARS T E E R G A 16 E V E 9 N 5 N 12 Brewdog U T E 10 ’ S LYM Camden Assembly P 11 E Joe’s Bar A 13 S R ROAD 1 TREE 12 N K Lockside Lounge T 13 R Fity-five O Y ROAD JAMESTOW 19 14 A O R Proud Camden D TZ I F 23 CAMDEN MUSIC Primrose Hill OVAL ROAD TOWN 15 The Roundhouse C 16 18 Dingwalls 9 BAYHAM STREET A 15 MINS 17 M The Dublin Castle C 8 18 A D TO THE CITY The Jazz Café Y 21 WAY M E 19 O D N Electric Ballroom E 20 R ARK S Green Note K 17 N T P W D 7 H R A 20 I E RO G A T E ATTRACTIONS R Y BE T H T L E 2 E A E S C R T 21 N ST Primrose Hill RI R P DELANCEY 22 E Stables Market ALBERT STREET E T 23 The Canal 24 ZSL London Zoo P A 25 R Camden Beach K V D I OA L 8 MINS E R L AL A D G N P E W A TO THE O N R C C R A WEST END S R 24 O O London Zoo A U D MORNINGTON T E CRESCENT R C I R CIRCA L@=OGJD<K C L ALBANY STREET CH OLDEST E D A A L 2HRS TO SCIENTIFIC ZOO O R EVERSHO N TO PARIS OR ST N A R I BRUSSELLS E H N ET A O M LT STREET D E P L S KING'S A A T ST. PANCRAS U C E GU CROSS A INTERNATIONAL D Regent’s park STU R S O S A T R D E ET D OA R KING'S CROSS STON EUSTON EU ST. PANCRAS Approximate times - Source: Google Maps / Eurostar THE SITE NEW CAMDEN QUARTER SITS CENTRE STAGE WITHIN VIBRANT AND DYNAMIC CAMDEN 56 55 23 54 1 53 2 52 1 a 21 5 1 100 5 a 50 3 49 4 d 1a 19 3 4 17 d 41 a 24 Ch o alk 48 15 R 22 Farm d R o 47 n ad 13 la 20 rt 4 5- 46 a 44 3 a 11 18 4 3 H 4 40 9 42 39 16 RRetailetail 38 37 7 14 36 RRetailetail 5 12 2 3 10 1 8 3 THE 29 1 6 25 27 4 21 23 17 cent Estate 34-44 J uniper 19 C 1 rescent E state 3 15 45-53 J unipe r Cresc 9 ent E s 1 tate Retail 27 1 28 5 54- 7 64 J Cr unip 26 1 esce er nt E 3 SITE state 25 24 le w 64-6 8 J a unip 23 er C H Playground res cen t E s tate Retail 22 21 20 Playground Retail C ha lk Fa The New Camden Quarter site extends to approximately 3.2 Hectares J rm un R ipe oa r e 19 C at d r st e t E s en ce sc n re t r C 18 pe ni Retail J u 4 - 8 (circa. 8 Acres) and is bounded to the east and west by railway lines. 79 17 t 120 en sc re C er 9 The south of the site is bounded by Oval Road, Gilbeys Yard and Camden C 3 p r - i e 1 s 0 n c Commercial 0 e u n J t u J E n i s p t a e t r e 1 t E state 09 iper Crescen 101-108 J un Lock. Camden Market is located to the east running under the railway track 119 at the south eastern corner of the site. Commercial RetailRetail RRetailetail RetailRetail There are three main parts to the site: TENURE RRetailetail 3 ck 1 L o n Railway de m RetailRetail a 1. The main Morrisons site, accessed from Chalk Farm New Camden Quarter consists of two freehold titles: C Road via Juniper Crescent The main site is held under Freehold title number NGL703708 and the petrol filling station site is held under A s 2. The Morrisons Petrol Filling Station site which is s o rd c Freehold title number NGL755432. ia a t Y e d s P n r located on an island site, accessed from Chalk Farm a e w s S s Road (separate to the main site) Parts of the Freehold title are subject to a lease of 82 underground tunnels. The lease is held under NGL861194 51- 3. The leasehold element which forms the south eastern RRetailetail tip of the main Morrisons site. There is a pedestrian Offices The main site also benefits from a long leasehold interest in 4 30 RRetailetail 5 3 0 rd Ya access route to Camden Market from this section of ys lbe the south east corner of the site (part of the current Morrisons Gi the car park via a staircase. Offices surface car park), which lies above Camden Market. The 60 58 -42 Offices lease length is 999 years (from 17 February 2006) over 56 29 54 The existing Morrisons supermarket extends to Retail Offices this section, with the freehold being owned by Triangle River 1 approximately 77,500 sq ft. with large areas of hard 8 2 e d Extension’s Limited. The lease is held under title number h standing providing customer car parking to the east. NGL861438. The retail unit is serviced via a small access road that runs along the site’s western edge, alongside the railway The data room contains a comprehensive title review line. There is also a bus stop to the north and various including details of electricity sub-stations, access rights/ access points and rights of way across the site. agreements, restrictions and services. Further information related to title can be found in the data room. 14 15 THE SCHEME THE NEW DEVELOPMENT COMBINED WITH THE MORRISONS STORE WILL PROVIDE AROUND 1,300 JOBS WHILST ALSO DELIVERING 573 RESIDENTIAL UNITS. Private Proposed Units Total NSA (sq ft) Average unit size (sq ft) Unit % of Mix Studio Flat 62 27,104 437 16.2% 1 Bed Flat 139 78,183 562 36.4% THE 2 Bed Flat 142 116,524 821 37.2% 3 Bed Flat 38 38,212 1,006 9.9% SCHEME 3 Bed Maisonette 1 1,324 1,324 0.3% 382 261,347 684 100% Intermediate Rented Proposed Units Total NSA (sq ft) Average unit size (sq ft) Unit % of Mix The site has received a resolution to grant planning consent to deliver 1 Bed Flat 43 23,939 557 53.1% a scheme of 573 homes which will range in size from studios to four bedroom 2 Bed Flat 28 21,808 779 34.6% town houses. There will be a variety of rent and ownership options and 37% 2 Bed Maisonette 10 9,957 996 12.3% of the homes will be affordable, by floor area. Homes will include apartments, 81 55,704 688 100% duplexes and family sized townhouses. The variety of building scales and Affordable Rented Proposed Units Total NSA (sq ft) Average unit size (sq ft) Unit % of Mix housing typologies have been designed to encourage a mixed community 1 Bed Flat 27 14,908 552 24.5% and promote a diverse population with a variety of daily routines to activate 2 Bed Flat 22 17,330 788 20.0% new streets and spaces, all creating a strong sense of neighbourhood. 2 Bed Maisonette 9 8,353 883 8.2% 3 Bed Flat 25 24,692 926 22.7% 3 Bed Maisonette 19 22,121 1,001 17.3% 4 Bed Flat/House 8 10,613 1,066 7.3% Morrisons’ heritage as food makers and shopkeepers 110 98,017 891 100% continues today and the new store’s reworked version of K)(. ;AD Market Street will showcase craft skills so customers can Total Proposed Units Total NSA (sq ft) Average unit size (sq ft) Unit % of Mix watch the team of trained butchers, bakers and fishmongers S106 & CIL Contributions Studio 62 27,104 437 10.8% at work. A new Morrisons supermarket will retain existing Total S106 contributions £7,360,025 1 Bed Flat 209 117,030 560 36.5% employment whilst also providing an exceptional source of Reduced S106 contributions £4,102,469 amenity on site. if the various targets within 2 Bed Flat 192 155,662 811 33.5% the S106 are achieved The new development combined with the Morrisons store 2 Bed Maisonette 19 18,310 964 3.3% S106 costs per unit (Total/Reduced) £12,845 / £7,160 will provide around 1,300 jobs through further creation of 3 Bed Flat 63 62,904 998 11.0% approximately 32,500 sqm of commercial space; ranging Estimated Community Infrastructure £11,600,000 from small affordable workspaces and retail units; light Levy (Mayoral & Borough) 3 Bed Maisonette 20 23,445 1,172 3.5% industrial workshops for makers; large office floor plates that 4 Bed Flat/House 8 10,613 1,327 1.4% Full details available on the data room site. can be occupied by one tenant or subdivided for multiple 573 415,068 724 100% occupancy. As part of the S106 Agreement, any purchaser would be GIA Summary (Main site) Total (sqm) Total (sq ft) required to comply with the following timeframes in order to To the south the scheme will have a more residential feel Private Residential 32,908 354,218 where ground floor spaces will be lined with individual front avoid initiating a S106 viability review. doors to family sized duplexes and townhouses. Commercial Intermediate Rented 6,757 72,732 activity is focused along the primary routes and to the north, Trigger Development Stage Time from Affordable Rented 11,575 124,592 closer to the town centre. An enhanced quality of public planning consent Residential Facilities 778 8,374 space will be delivered by five new public spaces including 1 Completion of 2 years 6 months one park to the northeast railway boundary, making the Ground Floor Slab of Office 4,523 48,685 most of existing trees to create a green space, for residents, the temporary store Workshops 667 7,180 workers and visitors to enjoy and relax in. In contrast the 2 Occupation of the 3 years 3 months 1 civic square in front of the store; the neighbourhood square Affordable Workspace 565 6,082 temporary store to the southeast reminiscent of a typical London square; Morrisons (incl. Parking, Service areas and Ancillary) 19,352 208,303 a new space in front of the Interchange Warehouse will 3 Implementation of 3 years 6 months improve this listed building’s setting. Facilities will include the main site Retail 672 7,233 play equipment for all ages, community gardens and Full details available on the data room site. Urban Farm 1,047 11,270 allotments for growing. All have been designed to be All planning documents are available on the data room site. overlooked and uses carefully considered to create a sense 78,844 848,669 of ownership and safe guard the spaces for all users. GIA Summary (PFS site) Total (sqm) Total (sq ft) The petrol filling site on Chalk Farm Road will be Office 6,873 73,980 redeveloped to provide office accommodation over a petrol Morrisons PFS Kiosk 360 3,875 filling station. To maintain trade the Morrisons will be moved Retail 1,086 11,690 to a temporary store located in the new building above the petrol filling station site meaning the petrol filling station will Other 723 7,782 be closed during the construction of the new store on the 9,042 97,327 main site. Total GIA 87,886 945,996 Full schedule of accommodation available on the data room site. Note: The above areas assume 37% affordable housing by floor area on the assumption of GLA grant funding being available. In the event grant funding is not available, the scheme will revert to the original consent of 35% affordable housing by floor area. 18 1 The S106 allows for an increase of the affordable workspace area to 945 sqm / 10,1721919 sq ft through the insertion of mezzanines, subject to feasibility. PFS BLOCK C BLOCK B BLOCK A BLOCK D BLOCK E1 BLOCK F PFS BLOCK E2 GOODS CAMDEN RAILWAY PARK YARD YARD INTERCHANGE B C YARD A ROUND HOUSE WAY WINDING VAULTS WAY SOUTHAMPTON MAKERS YARD SQUARE D F ENGINE HOUSE WAY E1 E2 WINDING VAULTS WAY 20 21 NEW CAMDEN QUARTER KEY TYPICAL FLOOR STUDIO BLOCK A 1 BED B C 2 BED 3 PEOPLE A 2 BED 4 PEOPLE 3 BED SUMMARY D 4 BED 6 PEOPLE OFFICE F E1 WORKSHOPS ARCHITECT: PIERCY AND COMPANY ARCHITECTS RETAIL E2 CORE NUMBER OF UNITS: 107 PLANT STOREYS: 14 USE CLASSES: A1 / A3, B1, C3 COMMENTARY Situated on the north western corner of the site, Block A is LEVEL 1 the tallest building in the masterplan. It represents a gateway into the development for pedestrians and cyclists, and acts as a landmark for this new urban quarter. Block A consists of two residential towers rising above B1 office space at first floor and a mix of uses at ground floor. The massing of the block has been informed by relationships with key Camden views, particularly with reference to the Grade II* listed Roundhouse, and the creation of new vistas within the masterplan. The façade has been designed to achieve a tactile, well detailed interface at ground floor level with a material palette of brick, concrete and metal. This has drawn inspiration from the industrial and infrastructural typology of Camden, as seen in local landmarks such as the Roundhouse and the Great Wall of Camden. CGI - For illustrative purposes only ACCOMMODATION SCHEDULE GROUND Private Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix Studio 28 12,357 441 26.2% 1 Bed Flat 42 23,425 558 39.3% 2 Bed Flat 24 20,021 834 22.4% 3 Bed Flat 13 13,369 1,028 12.1% 107 69,172 646 100.0% GIA Summary Sqm Sq ft Private 8,703 93,678 Office 1,135 12,217 Workshops 145 1,561 Retail 177 1,905 10,160 109,361 Full floorplans available on the data room site. 22 23 NEW CAMDEN QUARTER KEY GROUND LEVEL 1 STUDIO BLOCK B 1 BED B C 2 BED 3 PEOPLE A 2 BED 4 PEOPLE 3 BED D 4 BED 6 PEOPLE SUMMARY OFFICE F E1 MORRISONS ARCHITECT: ALLIES & MORRISON RETAIL E2 ANCILLARY NUMBER OF UNITS: 128 MORRISONS STOREYS: 8 URBAN FARM CORE USE CLASSES: A1, B1, C3, SUI GENERIS PLANT COMMENTARY TYPICAL FLOOR LEVEL 7 Block B sits in the heart of the scheme, facing onto two new public spaces at the northwest corner of the site and entrance to the new neighbourhood from Chalk Farm Road. The most prominent building on the site, the arches around its base tie the development into the adjacent railway, providing a strong visual language for the change in levels across the site and a unique facade to the new supermarket at lower ground floor. The arches also form the bottom tier of a tripartite opening arrangement reflecting the use classes of each level, with arches for the supermarket, larger picture windows for the workspaces on the two floors above and domestic sized openings for the residential across the higher floors. The buildings important central location means that it has two primary elevations forming an introduction to the site. The building is also topped by storey high lettering, a nod to Camden Lock Bridge, announcing the new neighbourhood – “CAMDEN GOODS YARD”. Behind this site a series of greenhouses designed to accommodate the urban farm. CGI - For illustrative purposes only ACCOMMODATION SCHEDULE Private Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix GIA Summary Sqm Sq ft Studio 12 5,242 437 14.0% Private 7,833 84,314 1 Bed Flat 31 17,308 558 36.0% Intermediate Rented 3,862 41,570 2 Bed Flat 25 19,397 776 29.1% Office 2,749 29,590 3 Bed Flat 18 18,223 1,012 20.9% Affordable Worskspace 1 100 1,076 86 60,170 700 100.0% Retail 47 506 Morrisons Store 5,430 58,448 Intermediate Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix 1 Bed Flat 16 8,665 542 38.1% Morrisons Car Parking 10,935 117,703 2 Bed Flat 20 15,909 795 47.6% Morrison Back of House & Plant 2,987 32,152 2 Bed Maisonette 6 6,071 1,012 14.3% 33,943 365,359 42 30,645 730 100.0% 1 The S106 allows for an increase of the affordable workspace area to 276 sqm / 2,971 sq ft through the insertion of mezzanines, subject to feasibility. Full floorplans available on the data room site. 24 25 NEW CAMDEN QUARTER KEY LEVEL 8 1 BED BLOCK C 2 BED 3 PEOPLE C B 2 BED 4 PEOPLE A 3 BED 4 BED 6 PEOPLE SUMMARY D WORKSHOPS F RETAIL E1 RESIDENTIAL FACILITIES ARCHITECT: ALLIES & MORRISON CORE E2 NUMBER OF UNITS: 82 PLANT STOREYS: 10 USE CLASSES: A1, B1, C3 COMMENTARY Block C’s irregular shape is informed by historical LEVELS 1-7 precedent and sculpted by the primary routes through the site and interaction between the public spaces. The building’s façade twists to invite pedestrians into and between the public spaces. The volume of the building is split into two with a void in the middle. This delivers more double aspect residential units and allows the two parts to have different heights to reflect their individual situations. The building is primarily residential, with a resident’s gym at ground and lower ground level. Small retail units and workspaces are also incorporated at ground floor level. CGI - For illustrative purposes only GROUND ACCOMMODATION SCHEDULE Private Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix 1 Bed Flat 32 18,213 569 39.0% 2 Bed Flat 50 43,809 876 61.0% 82 62,022 756 100.0% GIA Summary Sqm Sq ft Private 7,500 80,729 Residential Facilities 552 5,942 Workshops 305 3,283 Affordable Workspaces 1 465 5,005 8,822 94,959 1 The S106 allows for an increase of the affordable workspace area to 669 sqm / 7,201 sq ft through the insertion of mezzanines, subject to feasibility. Full floorplans available on the data room site. 26 27 NEW CAMDEN QUARTER KEY LEVELS 2-4 1 BED BLOCK D 2 BED 3 PEOPLE B C 2 BED 4 PEOPLE A 3 BED 4 BED 6 PEOPLE SUMMARY D RETAIL RESIDENTIAL F E1 FACILITIES CORE ARCHITECT: ALLIES & MORRISON PLANT NUMBER OF UNITS: 42 E2 STOREYS: 5 USE CLASSES: A3, C3 LEVEL 1 COMMENTARY Building D forms part of the residential backbone to the southern aspect of the site, and mediates between the building heights of the masterplan and the adjacent Gilbey’s Yard. The overall composition of the block is three stories of deck access flats atop a “plinth” of family sized maisonettes. These maisonettes have a back garden, connecting onto a communal garden. The facades are a mix of pale terracotta inset panels, Reddish and buff brick to act as a mediator between Block B and the GROUND reddish tone of the Interchange building. A retail unit and community centre sit at ground floor in the east and west “wings” of the building respectively. CGI - For illustrative purposes only ACCOMMODATION SCHEDULE Intermediate Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix GIA Summary Sqm Sq ft 1 Bed Flat 25 14,176 567 75.8% Intermediate Rented 2,341 25,198 2 Bed Flat 8 5,899 737 24.2% Affordable Rented 1,024 11,022 33 20,075 608 100.0% Residential Facilities 74 797 Retail 118 1,270 Affordable Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix 3,557 38,287 3 Bed Maisonette 9 10,280 1,142 100.0% 9 10,280 1,142 100.0% Full floorplans available on the data room site. 28 29 NEW CAMDEN QUARTER KEY LEVELS 5 - 10 STUDIO BLOCK E1 1 BED B C 2 BED 3 PEOPLE A 2 BED 4 PEOPLE RESIDENTIAL FACILITIES D SUMMARY CORE F E1 ARCHITECT: PIERCY & COMPANY ARCHITECTS NUMBER OF UNITS: 50 E2 STOREYS: 11 USE CLASSES: C3 COMMENTARY Located at the south east boundary of the site, block E1 is the second tallest building in the development. The Block is entirely private residential, with a concierge space at ground floor which will serve the entire development. The façade and design is influenced by the art deco and white modernist buildings in Camden and further afield, intentionally contrasting with the deep reveals and tectonic reveals of Block A’s elevations. The building is clad in white hit and miss brickwork, with key detailing drawing on the GROUND LEVELS 1 - 4 local built context, such as the glazed bullnose bricks which reference the nearby Grade II listed Interchange building. CGI - For illustrative purposes only ACCOMMODATION SCHEDULE Private Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix Studio 10 4,542 454 20.0% 1 Bed Flat 24 13,715 571 48.0% 2 Bed Flat 16 12,749 797 32.0% 50 31,006 620 100.0% GIA Summary Sqm Sq ft Private 3,933 42,334 Residential Facilities 152 1,636 4,085 43,971 Full floorplans available on the data room site. 30 31 NEW CAMDEN QUARTER KEY LEVEL 3 1 BED BLOCK E2 2 BED 3 PEOPLE B C 2 BED 4 PEOPLE A 3 BED 4 BED 6 PEOPLE SUMMARY D CORE PLANT F E1 ARCHITECT: ALLIES & MORRISON NUMBER OF UNITS: 23 E2 STOREYS: 5 LEVEL 2 USE CLASSES: C3 COMMENTARY Block E2 consists of a mix of three storey townhouses and five storey stacked maisonettes, with a floor of flats in between. The building completes the residential backbone to the south of the site, and signals a shift in scale to accommodate the adjacent Gilbey’s Yard. The design aims to create a regular, ordered street with front gardens and entrances at regular intervals. The units have access to a shared communal garden to the rear of the block. The façade consists of two shades of buff brick, GROUND paler on the townhouses and graduating to a darker and more saturated colour on the stacked maisonettes. Timber cladding and an expressed brick frame at ground and first floor is employed to bring a domestic scale to the entrance of each home. CGI - For illustrative purposes only Affordable Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix 1 Bed Flat 4 2,196 549 25.0% ACCOMMODATION SCHEDULE 2 Bed Maisonette 2 1,894 947 12.5% 3 Bed Maisonette 5 6,039 1,208 31.3% 4 Bed House 5 7,158 1,432 31.3% Private Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix 16 17,287 1,080 100.0% 3 Bed Maisonette 1 1,324 1,324 100.0% 1 1,324 1,324 100.0% GIA Summary Sqm Sq ft Private 165 1,776 Intermediate Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix Intermediate Rented 554 5,963 1 Bed Flat 2 1,098 549 33.3% 2 Bed Maisonette 4 3,886 972 66.7% Affordable Rented 1,917 20,634 6 4,984 831 100.0% 2,636 28,374 Full floorplans available on the data room site. 32 33 NEW CAMDEN QUARTER KEY GROUND LEVEL 1 STUDIO BLOCK F 1 BED B C 2 BED 3 PEOPLE A 2 BED 4 PEOPLE 3 BED SUMMARY D 4 BED 6 PEOPLE OFFICE F E1 WORKSHOPS ARCHITECT: ALLIES & MORRISON RETAIL E2 CORE NUMBER OF UNITS: 141 PLANT STOREYS: 10 USE CLASSES: A1, B1, C3 COMMENTARY LEVELS 5-6 LEVEL 7 Block F is a predominantly residential building with smaller workspaces at ground floor. Although similar in scale to Block B, the block is an ensemble of buildings that responds to the differing spatial hierarchies and typologies of the neighbouring buildings, tying the masterplan together. To achieve this each elevation has a different appearance to mirror the adjacent building, with prominent projecting corners stepping up to the taller Blocks A and E1. The series of buildings are tied together by a shared language of the use of brick, warehouse proportions in the detailing and the inclusion of ironmongery. CGI - For illustrative purposes only ACCOMMODATION SCHEDULE Private Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix Studio 12 4,963 414 21.4% 1 Bed Flat 10 5,522 552 17.9% 2 Bed Flat 27 20,548 761 48.2% 3 Bed Flat 7 6,620 946 12.5% 56 37,653 672 100.0% Affordable Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix GIA Summary Sqm Sq ft 1 Bed Flat 23 12,712 553 27.1% Private 4,774 51,387 2 Bed Flat 22 17,330 788 25.9% Affordable Rented 8,634 92,936 2 Bed Maisonette 7 6,549 936 8.2% Office 639 6,878 3 bed Flat 25 24,692 988 29.4% Workshops 217 2,336 3 Bed Maisonette 5 5,802 1,160 5.9% 4 Bed House 3 3,455 1,152 3.5% Retail 177 1,905 85 70,540 830 100.0% 14,441 155,441 Full floorplans available on the data room site. 34 35 PFS NEW CAMDEN QUARTER KEY FINAL PLAN OFFICE GROUND FLOOR MORRISONS PFS Site RETAIL ANCILLARY MORRISONS C CORE B SUMMARY A PLANT PETROL STATION D F ARCHITECT: NIALL MCLAUGHLIN ARCHITECTS E1 NUMBER OF UNITS: - STOREYS: 6 E2 USE CLASSES: A1 / A3, B1 TYPICAL FLOOR COMMENTARY Once redeveloped the PFS site will continue to provide a petrol filling station, alongside a diversified retail offering, cafes, restaurants and approximately 6,700 sqm of office workspace. The site will also play an important part of the phasing of the development, as it will temporarily accommodate the food store during the first phase. The building’s design continues the massing of the Great Wall of Camden whilst providing a more active frontage than currently exists through the provision of new shop TEMPORARY fronts. Floors one to five provide large and flexible office PLANS floorplates, with the fifth floor set back. The massing of the building is articulated by breaking it GROUND FLOOR down into its constituent parts. The base of the block is formed of heavy brick piers, expressing the plinth and transfer structure required to provide a 5.5m roof height for the petrol filling station. Above this the office space is formed . Elec out of two volumes of lightweight timber construction, given CAR PARK Tenant Riser a golden hue by the solar shading fins and blinds. From the 4th floor of the corner building there is a winter garden allowing the vegetation to be seen from the street, creating a striking entrance marker to this new quarter. CGI - For illustrative purposes only FIRST FLOOR ACCOMMODATION SCHEDULE GIA Summary Sqm Sq ft . Office 6,873 73,980 Morrisons PFS Kiosk 360 3,875 Retail 1,086 11,690 . Other 723 7,782 Floors 2 to 5 will be as per the final plans 9,042 97,327 Full floorplans available on the data room site. 36 37 MARKET COMMENTARY RESIDENTIAL LONDON LONDON BOROUGH OF CAMDEN Latest forecasts show London’s population is set to increase In the previous decade Camden has established itself as The aforementioned rapid population growth, along with on-going strong investor significantly in the coming years, becoming Europe’s first true one of the hottest residential markets in the capital, with rates demand in London, will go a large way to maintaining the current high levels ‘megacity’ with a population of over 10m in around 10-12 of house price inflation outstripping most other Boroughs. of demand, underpinning future rates of house price inflation. As below left, a years. This growth will be under-pinned by a huge increase Since the market downturn of 2007/2008, house prices large degree of this demand looks set to be focused on the Borough of Camden, in the Capitals working age population, with the number in Camden have risen 79% beyond their previous peak in with house values forecast to grow by over 53% by 2027 and the price of the of those aged 15-65 set to increase by just under 9% by late 2007. This is indicated in the below graph, where a average home set to exceed £1m by 2021. 2027. When comparing these figures with other popular clear outperformance over both the inner and outer London European and North American investment locations (see averages is evident. below graph), the scale of this increase becomes clear. CAPITAL VALUES FROM PREVIOUS ;9E<=F FO)!;9HAL9DN9DM=K J=FLK (2007) PEAK 10 YEAR WORKING AGE £535 POPULATION FORECAST £1,275 £1,255 60.0% £530 £1,235 50.0% £1,215 £525 40.0% London 8.7% £1,195 30.0% £520 £1,175 20.0% £1,155 San Fransisco 4.9% £515 10.0% £1,135 0.0% £1,115 £510 Los Angeles 2.3% Camden Inner Outer (Borough) London London Jul 17 Jun 17 Jan 17 Apr 17 Feb 17 Oct 17 Sep 17 Dec 17 Aug 17 Mar 17 Nov 17 Source: Oxford Economics May 17 New York 1.7% Camden (NW1) Capital Values - LHS 10 YEAR HOUSE PRICE FORECASTS Camden (NW1) Weekly Rents - RHS Source: Cushman & Wakefield Research -2.6% Paris 80.0% 70.0% 60.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 50.0% CAMDEN TOWN (NW1) 40.0% Source: ONS/US Census Bureau/Eurostat/Oxford Economics When going into a little more detail and analysing the postcode central to 30.0% Camden Town itself (NW1), we can see that after a strong H1, and a steady 20.0% H2, prices finished 2017 in-line with the Borough average at 3.5%. Rental values 10.0% in NW1 took a slight fall during the year, falling -1.7%, some way below the 10 0.0% year long-run average of +2.3% per annum. Camden Inner Outer (Borough) London London Source: UK HPI 38 39 MARKET COMMENTARY COMMERCIAL LONDON OFFICE DEMAND OCCUPIER ACTIVITY MIRRORS OUTWARD PUSH The London office market had another strong year in 2017, Occupiers have also been far less geographically What is also shown in the graph below is that a great deal with total annual volumes reaching 11.7 million sq ft, 10% constrained in recent years. The diagram below shows of this activity has taken place in and around King’s Cross. ahead of the 5-year annual average. This trend that looks just how footloose high quality occupiers have become, This is of significant benefit to Camden – King’s Cross has set to continue in 2018. There are three key reasons for this preferring to acquire the right building for their brand, and to linked Camden to the West End, with occupiers seeing – constrained supply, significant take-up activity by flexible attract and retain the talent they need to flourish. Camden as being far more inherently linked to the Central workplace providers leading to a further curtailment of that London narrative than before. supply, and better trading conditions for most occupiers meaning a more proactive decision making process. Supply will remain constrained given that a significant proportion of the forthcoming pipeline is either already let or under offer. C&W estimate that half of all space under construction is currently prelet, and the graph below shows how quickly supply constraint came about. CAMDEN It would be logical to assume that the downturn in supply may have come about because the pipeline of forthcoming schemes dried up, but the graph below demonstrates that the fall in supply was not simply led by subdued development activity – had that been the case there would not have been the quarter on quarter activity shown, taking 2017 to well above the five-year average. CENTRAL LONDON LEASING VOLUMES BY VACANCY RATES QUARTER 2013-2017 CHISWICK SPITALFIELDS 14.0 16.0 14.0 12.0 12.0 10.0 10.0 8.0 ions) ll 8.0 t (mi 7.0 f 6.0 Sq BATTERSEA 6.0 4.0 5.0 2.0 4.0 0.0 2012 2013 2014 2015 2016 2017 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 This linking of Camden to the West End will be further This very significant new development, together with King’s enhanced by redevelopment of Euston Station – with a Cross, the Crick Institute and Regent’s Place will have an West End City Q1 Q2 5-year average new mixed use scheme arriving above the rails immediately immensely important positive impact on Camden as an Q3 Q4 Central London East London behind the existing station. office location. 40 41 FURTHER INFORMATION DATA ROOM Please visit the data room site for key legal, planning and technical documentation. WWW.NEWCAMDENQUARTER.COM PROPOSALS On behalf of Morrisons, offers are sought for the Freehold The PFS site is required to form the first phase of the interest in titles NGL755432 and NGL703708 alongside development and on construction completion the first floor the long leasehold interest in title NGL861438. The sale will be used as a temporary Morrisons store until the new will initially be subject to a development lease of the store within Block B has been completed. Both the new entirety with the transfer of the Freehold/Long leasehold and temporary stores will be reprovided to Morrisons at interests on Morrisons’ occupation of the new store and shell and core. associated areas. The Morrisons areas will be re-provided and be subject to a 999 year lease at a peppercorn rent. CONTACT Please contact a member of the Cushman & Wakefield team for further information: RESIDENTIAL RETAIL OFFICES Jack Simmons Martin Supple Richard Howard +44 (0)20 3296 4991 +44 (0)20 7152 5898 +44 (0)20 7152 5497 [email protected] [email protected] [email protected] Declan Pope Oliver Christy +44 (0)20 3296 4045 +44 (0)20 7152 5035 [email protected] [email protected] Cushman & Wakefield Debenham Tie Leung Limited give notice to anyone who may read these particulars as follows: 1.These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4 The photographs appearing in this brochure show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 7. Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact. April 2018 Brochure designed and produced by SAENTYS +44 (0)20 7407 8717 | [email protected] | www.saentys.com 42 WWW.NEWCAMDENQUARTER.COM