sign in sign up
<<
Home , Camden Town, Capital City Academy, Dollis Hill, London Designer Outlet, Neasden, Newman Catholic College

HARP ISLAND WORKS 6-8 Coombe Road, , NW10 0EB

Mixed use development opportunity with Resolution to Grant Planning Consent for 52 residential units and 7,837 sq ft of commercial space (Use Class E) EXECUTIVE SUMMARY

Site of 0.52 acres/ 0.21 hectares presently comprising a single storey warehouse with ancillary offices.

Freehold with Vacant Possession.

Located equidistant from Park Underground Station and Neasden Underground

Planning permission for the demolition of the existing building and redevelopment of the site to provide a scheme comprising:

37 Private Units (27,448 sq ft NSA)

4 Shared Ownership Units (3,963 sq ft NSA)

11 Affordable Rented Units (10,339 sq ft NSA)

2 x commercial units over Ground and First Floors totalling 7,836 sq ft GIA (Use Class E)

E(g) (ii) - Research and Development of Products or Processes E(g) (iii) - Industrial Processes

All units will likely qualify for Help to Buy.

Opportunity to discuss hand back of commercial space to vendor.

For sale via informal tender. Offers sought for the freehold interest on an unconditional basis. West Station Hendon

Hendon Station

West Hendon Playng Field Brent Cross Station Shopping Centre

Fryent Country Park Boxpark Wembley Preston Road Station Harp Island LOCATION Playing Field Harp Island Works is located in the Borough of Brent Resevoir Brent and is within walking distance from (9 Neasden Park minutes).

Wembley Park HARP ISLAND The site is bordered by Wembley to the south west, Neasden Station WORKS to the south east, Brent Cross to north east and a 254 acre park to the north west. The immediate area NEASDEN whilst principally residential, includes a variety of commercial Station uses. Further afield, Blackbird Hill comprises a range of retailers in addition to Lidl and Marks and Spencer. Coombe WEMBLEY GLADSTONE PARKGladstone Road backs onto Harp Island Close, a residential cul-de-sac. PARK Park

Neasden The site has excellent access to green spaces with Neasden Station Recreation Ground, Welsh Harp Open Space and Quainton Street Open Space to the south, all being within easy walking Station distance. Brent reservoir itself is a Site of Special Scientific Station Interest (SSSI) and offers activities such as bird watching, walking and canoeing as well as being home to four sailing clubs. Local primary schools include Braincroft Primary School and Wykeham Primary School, with a good range of secondary schools including The Crest , and .

Wembley has seen large scale development in recent years, however within the immediate locality there has been limited new build development. Quintain’s regeneration of the area surrounding Wembley Stadium is well known covering 85 acres and is one of the largest regenerations currently ongoing in Europe. Although the scheme is set to provide a large number of units the majority are to be delivered as Build- to-Rent. To date c. 3,000 units have been delivered of which c. 1,000 are Build-to-Rent. Brent Reservoir Carpenders Park

Hatch End East West Headstone Lane Finchley Central Harrow & Canons Park Queensbury North Harrow Kenton Kingsbury Hendon Central Crouch Harrow- on-the-Hill Preston Road Brent Cross Archway Neasden CONNECTIVITY Dollis Hill South Kenton Wembley Park Willesden Green Gospel The property is equidistant between Wembley Park (Jubilee and Kilburn Oak Holloway Road Metropolitan Lines) and Neasden (Jubilee) underground stations,Wembley Central Kentish both a 13 minute walk. Regular bus services run along BlackbirdStonebridge Park West Kensal Hill and Neasden Lane North with bus journey times of 4 minutes Caledonian Rise Park Road to Wembley Park and onward journey times via tube of circa 12 & Camden Road minutes to Baker Street and circa 22 minutes to Oxford Circus.Willesden The Junction Brondesbury

Pl site has a PTAL rating of 3. ea se refer t o lan d sc ap e str

Kilburn Finchley Road ateg y Queen’s Park 2

High Road 9 0 0

Mornington 0 Ame 1 6 146 Wembley Park 1 n 5 i Crescent t G m y a a t ² cce e King’s Cross B r f Station e o 1 ss r 7 n t t E o A 1 St Pancras 4 Ri v e r Re 1 C si 8 ( y Kilburn Park 9 c d 8 l e Edgware Road e ntia St John’s Wood Euston 1 S St 1 p 3 2 a o 2 c r l .8 e e s) 1 m 9 12 ² Warwick Angel 6000 1 2 2 Avenue 0 R Baker Street e s Euston Ame id Great Portland e 1 n 1 2 t 1 n i 2 Core a Edgware Square Warren 1 0 it l Baker Street Street m y ² Royal Oak Road Street B Farringdon 1 9 18200 2 0 2 Regent’s Park 20 Westbourne Park 2 C Goodge 3 a 6 Russell ( r 2 1 p

7 0 s a r 0 Barbican p k Street a i Square n c e g Bond Street Bayswater 2 s) Ladbroke Grove 4 Pl 2 4 ant .0 Oxford m ² Bond Street 4 5 6 7 8 2 Circus 5 Fi Moorgate re Latimer Road 6000 Onl E x it 2400 y 2 22 6

2 7 3 C o Ind 8 Oxford Circus c r yc e c icat h l a e n s iv A t gi o e r l n a o g g cat 2 f e a c a io i n n li d t o ie f s Ac Ped c e e P s 5 l Par ss t ant ri 7 t . o an 1 2 k m in C a ² 29 g r

Farringdon P Indica tive loca tion of protecte d lobby

o C U s o

m n t

i 2 m t L Ca r pa rk 4 e B o 3 r . c b 1 i

entra nc e C m a 6 o U b l n ² 5 m i y

0 m t 8 7 A 0 e . r 6 c

m ia 29 ² l Victoria

36

London Bridge FLOOR PLANS Key:

1b2p - 50 sqm (min)

2b4p - 70 sqm (min)

3b5p - 86 sqm (min)

Commercial Units

Other - Bins & Cycle Store, etc .

External A menity Space

B 0 3 3 . Wheelchair Un it C omplaint Part M4(3) 9 b 0 6 5 1 .1 p m ²

Pl ea se refe r t o l and B sc ap a e s lc trate 9 o g y m ny

²

2

9

0 B

0 a 0 Ame l 9 c 1 o 6 146 m n 1 n y 5 ² it G m y K a / B a ² D e cce t 32 B e / 8 d B B L e f m 1 d m 3 0 r o 6 B e ss 1 3 1 n r ² m ² e 3 7 12 d 88.4 b . t t E 1 ² 2 0 o A 4 m 5 2 Ri ² p v m e r ² Re 1 C si y 8 (9 d B c e K 8 e / le 8 d D ntia 2 S St m 3 7 / 1 1 p E Bat L 3 ² n m 2 a o 3 s 4 2 l . h ² c r m m S .8 e e 3 t s) ² ² . 1 m m 9 ² ² B F e 6000 12 d i r

2 e m S

3 t f ² . m i 1 g

2 ² h

2 4 3

0 t

0

i n

R 0

e g Pro s B Bat

Ame i e C R d 1 d L AOV e 3 E 4 t o n h o e 1 n 1 3 m i S r 2 m s s t c

1 b e t m . ² a t 1 ² e 2 n ia e B Core 0 it ² b ir

r d 1 l s

m y y ² B B 0 S 2b4 3 2 m² t . B . 7 0 1 9 18200 e 4 2 0 12 d . p 3 2 2 2 m m ² ² Bat K 4 / m h 2 D B 7 / a ² m L l B c o 2 e ² 7 C 1 d ny 3 6 5 m a 1 ( r m ² 2 1 p 7 0 ² s a E r 0 n p k 3 s a i m . c n A e g ² 2 s) 0 A 3 0 4 Pl 2b4 E 7 . n 2 3 2 ant 0 3 s 4 6 7 8 m . 7 b .0 . . p 4 4 0 2 B ² 1 e B .7 p m m 1 d a 5 l m ² ² 1 c m K 7 o 4 5 6 7 8 / ny ² 2 ² Bat 2 D m 5 Fi 8 / ² 4 L h m re m ² 6000 Onl E ² x B it e 2400 y B B a 12 d l a 2 c lc m 2 9 o o S ny 6 ² 2 t 6 m ny . m m ² ² ²

4300 Pro A t 2 e 0 7 S S 3 3 t c Bat 2 t 1 t . . C a 4 m 51.9 b 0 Ind B i e h o 8 e r d m ² B 2 2 c B 12 d s F e r yc i e B 12 d p e c cat 1 e ² h l 12 d m 1 i e d r 1 m a i 2 8 m n s v ² 1 e A t m gi o e m ² ² r l ² ² f n a o i g g cat Cor g K 2 f e B a / h c a io 26 m² D a n E AOV l i n / e t c li d K n L t o 3 s i 6 m² o

i A n e f / m . ny s 2 D Bat

7 / S g L 2 t ² K m . 5

Ped / Ac m h D

m L 26 m² ² ² /

² o c S R ise r L e e P 2 t s 5 l . b Par ss t ant m R i

se r b ri 7 ² t an .2 o 1 Bat y k i C m 4 n h g a ² m 7500 r ² 6200

K / 2 D S 5 / L 1 t m Bat S S . S t m 2 t 1 t 1 . . ² 4 . m ² m h m Bat Bat m ² ² Bat ² 4 K 4 ² h h D m / m 4 E 2 D h n 5 / ² m e 3 ² L Ame P Indica tive loca ti s m ² on of protecte d lobby m . E f

PROPOSED GROUND FLOOR PLAN K ² n e P o ² S / 3 s K 2 t 2 D . S l C m / n 55 U . 5 / 2 t D e

s m 2 n o L ² . a / s m n ² m m 5 L i t m landscs m t

² ² i e y

i b 2 m t ² L B r ² a r pa rk 4 e B e l s efer C e o B 3 r 1 d B B B t . B 4 e e e e r c 1 12 d b 1 e 1 d 12 d 12 a

d s ia 1 d m 3 a entra nc e C m 1 1 2 1 t p t 4 m p 6 ² e o U b l 2 m m m o ² m ² g e n ² a 5 m ² ²

y y i ²

c

0 m t 8 7 A e 0 e . r 6 c

m ia B l a ² lc 7 o B B B ny a a a m l c lc lc ² 6 o 7 o 6 o ny ny ny m m m ² ² ² PROPOSED THIRD FLOOR PLAN PROPOSED

COOMBE ROAD COOMBE ROAD THE PROPERTY

DESCRIPTION

The existing site is square in shape and totals 0.52 acres / 0.21 hectares. Presently the site comprises two single storey warehouses measuring 7,223 ACCOMMODATION sq ft GIA and were previously used as a brick depot with a scaffolding yard to the rear. A two-storey ancillary office building is situated to the north of the site. The west of the site fronts onto the and is in Flood Zone 2/3. The planning permission provides for an opening up of the river frontage by way of a new riverside walk. RESIDENTIAL

NSA NSA GIA GIA Average 1 Bed 2 Bed 3 Bed Total (sq m) (sq ft) (sq m) (sq ft) Unit Size Core A 14 21 2 37 2,550 27,448 3,106 33,432 742 PLANNING (Private) The property benefits from resolution to grant planning permission (Ref: Core B 0 3 8 11 961 10,339 1,115 11,999 940 20/2473) for; (Affordable Rented) Core C 0 0 4 4 368 3,963 441 4,749 991 The application seeks permission to demolish the existing industrial units (Shared Ownership)

and to redevelop the site to provide a part three-, four-, six-, and seven- Total 14 24 14 52 3,879 41,750 4,662 50,180 803 storey building comprising two duplex commercial units on the ground and first floors (Use Class E(g) (ii) and (iii) ), and 52 residential units on the first to seventh floors (comprising 14 x 1bed, 24 x 2bed and 14 x 3bed COMMERCIAL units), together with associated parking, cycle parking, refuse storage and landscaping including a public footpath along the bank of the River Brent. Use Class E (g) (ii) & (iii) GIA (sq m) Sq Ft (GIA)

The planning consent includes 27 car parking spaces and 98 cycle spaces. Commercial Unit A 251 2,700 Commercial Unit B 477 5,137 The S106 agreement contributions total £188,560. Total 728 7,837 Ancillary 276 2,977 Mayoral and Local Borough CIL is estimated at £1,194,036 subject to applicable reliefs.

Please note these figures are estimates and any interested party should undertake their own calculation.

MARKET OVERVIEW

RESIDENTIAL COMMERCIAL

There are presently 3,961 private sale units under construction in LB Brent albeit 1,847 of them (47%) are being developed as PRS by Quintain. Private sale units are achieving c. Use Class E (g) (ii) and (iii) provides for business uses including Research and Development and £700 psf in Wembley Parade (Anthology) and Alto (Quintain). There is very little by way Industrial purposes. These new use classes correspond to the old use classes B1(b) and B1 (c) of recent new build comparables in the locality, albeit headline prices are in the order of and can be leased to a wide range of commercial occupiers for which there is strong demand in the c. £650 psf. area. Headline rents are in the order of £15-16 psf. The ability to potentially sub-divide the E (g) (ii) and (iii) use space will likely drive £psf.

£20

£18

£16

£14

£12

Morgan Place - Higgins Homes Alto - Quintain £10

£8

2015 2016 2017 2018 2019 2020 2021 2022 2023 2023 Specialised Industrial Logistics Light Industrial Brent London Data: Costar

Total Sq Ft Rent / sq ft Sign Date Address Rent PA Term Tenant Leased / Yr 01/11/2020 Apsley Way 3,610 16.50 59,565.00 - -

12/05/2020 1-4 First Way 2,597 16.17 41,993.49 - -

02/12/2019 High Rd 2,975 14.45 42,988.75 10 yrs Marble & Bathroom World Ltd

26/09/2019 Cobbold Rd 2,400 14.16 33,984.00 - Trifolium Lingerie

19/07/2019 Dalmeyer Rd 1,920 13.54 25,996.80 10 yrs Quick Hire UK

01/07/2019 High Rd 6,627 17.00 112,659.00 - Topps Tiles

01/07/2019 North End Rd 1,148 20.03 22,994.44 5 yrs C & R Motors Ltd

29/04/2019 Neasden Ln 25,574 15.08 385,655.92 10 yrs TAIT

29/04/2019 Neasden Ln 9,687 16.24 157,316.88 10 yrs TAIT

15.91

Wembley Parade - Anthology FURTHER INFORMATION

TENURE

The property is held freehold under title number MX77267 TECHNICAL

A phase II environmental survey has been undertaken that confirms that ground conditions are relatively benign. VAT

The site is elected for VAT. BASIS OF SALE

The property will be sold with the benefit of vacant possession by way of Informal Tender. Offers are sought for the freehold interest on an unconditional basis FURTHER INFORMATION

A dedicated project data room has been set up and interested parties are able to register for login details via the joint selling agents. INSPECTION

All viewings are strictly by appointment only through the joint selling agents;

Matt Sharman Will Agnew Levy Real Estate Colliers International T: 020 7747 0110 T: 020 7344 6713 [email protected] [email protected]

Kit Haig Matthew Earnshaw Levy Real Estate Colliers International T: 020 7747 0111 T: 020 7344 6561 [email protected] [email protected]

MISREPRESENTATION ACT 1967 - Levy Real Estate LLP and Colliers International for themselves and for the Vendors or lessors of this property whose agents they are given notice that: All description, dimensions, reference to condition and necessary permissions for use and occupation and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Any services mentioned have not been tested and therefore prospective occupiers should satisfy themselves as to their operation. These particulars are produced in good faith and set out a general guide only and do not constitute part of any offer or contract. No person in the employment of Levy Real Estate LLP has any authority to make or give representation or warranty in relation to this property. All prices and rents are quoted exclusive of VAT unless otherwise stated. Jan 2021.