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On Behalf of Fixed Charge Receivers CRICKLEWOOD LANE LONDON NW2 PRIME MIXED USE INVESTMENT & DEVELOPMENT OPPORTUNITY PROPOSED DEVELOPMENT CRICKLEWOOD THAMESLINK MIDDLESEX OF A 35,000 SQ FT PROPOSED DEVELOPMENT RAIL STATION UNIVERSITY HALLS ASDA SUPERSTORE AND OF GROUND FLOOR RETAIL (ST PANCRAS INTERNATIONAL OF RESIDENCE 100 RESIDENTIAL UNITS B&Q AND 44 RESIDENTIAL UNITS 11 MINS) (181 BEDROOMS) VIRGIN GYM CHILDS HILL 0.9 MILES CRICKLEWOOD LANE A5 MARBLE ARCH 4 MILES Site outline for indicative purposes only. CRICKLEWOOD LANE LONDON NW2 1-13 CRICKLEWOOD LANE INVESTMENT CONSIDERATIONS Mixed use property comprising: Retail: 17,280 sq ft NIA Office: 25,111 sq ft GIA (21,061 sq ft NIA) Residential: 15 flats (12,420 sq ft GIA) Comprising a total area of approximately 54,811 sq ft (5,012 sq m) Total site area of 0.91 acres (0.37 hectares) Freehold Current passing rent of £369,055 per annum Reversionary rent of £847,983 per annum Located in close proximity to the Brent Cross £4.5bn regeneration scheme Tenants include Co-Operative Foodstores Limited and Barndoc Healthcare Limited Prominent position close to Cricklewood Railway Station DEVELOPMENT POTENTIAL The property provides a number of potential residential led development opportunities, subject to planning, including: Immediate conversion of the 1st and 2nd floor offices at the rear to residential through Permitted Development Rights Increase in the height and density of the existing buildings Comprehensive redevelopment Offers are sought in excess of £12,000,000 DATAROOM (Twelve Million Pounds) subject to contract Further information is provided in the dataroom. and exclusive of VAT. A purchase at this level For access please register on the following website www.cricklewoodlane.com represents an overall capital value of only £219 psf and reversionary yield of 6.62% assuming purchaser’s costs of 6.76%. CRICKLEWOOD LANE LONDON NW2 BRITANNIA BUSINESS CENTRE LOCATION Cricklewood is a densely populated area of north-west London with an affluent catchment area in the London Borough of Barnet, approximately 5.8 miles (9.3 km) northwest of Central London. Cricklewood benefits from excellent communication links. The area is served by Thameslink providing regular services to London with a fastest journey time of 10 minutes to London St Pancras. Thameslink also serves a regular service to Luton Airport with a fastest journey time of 35 minutes. The area benefits from excellent road links being situated in close proximity to the A5 and the A41, M1 and other main routes into Central London. SITUATION The property is prominently located at the western end of Cricklewood Lane less than 50 metres from the A5 (Cricklewood Broadway). The area provides a wide variety of retailers with a mix of national and independent traders. These include Costa Coffee, Barclays, Santander, McDonalds, A505 Stevenage Burger King, KFC and Argos. Dunstable Stansted Luton Bishop’s A120 A418 Knebworth Stortford The property is situated adjacent to the Broadway Retail Park A5 A10 where occupiers include B&Q and Tile Depot. In the wider vicinity A1(M) A602 A44 M1 A131 A130 the area benefitsA34 from retail warehouse and leisureAylesbury occupiers Harpenden Welwyn Garden including Matalan, Wickes, Virgin Gym and Travelodge. City A40 Hertford A414 M11 The property is conveniently located in close proximity to Harlow OXFORD BerkhamstedA41 Hemel A12 Cricklewood Railway Station, which is situated within a 2 Hempstead St Albans Hatfield A4142 Thame minute walk (0.1miles). M10 A414 Chelmsford A138 D e r s J21 i A A414 n A420 g 4 d h Chipping a 1 A404 o a Potters Bar R Chesham Epping n m A4010 J20 to r d e a R m o Ongar o R o J23 S n DEMOGRAPHICS A to a J25 g J19 d ne 5 in J27 d a M25 M d L a Borehamwood d i C d J T o o l o h w a C kle A n h o ric 4 r C 1 d n la v s r e Cricklewood benefits from a low unemployment rate of 5% T t e e e r u M25 o m t n Watford r o e Enfield n A1 r v a o n A T 7 t c e n R 0 f e t 4 ro M1 M11 r o c r A130 High Rickmansworth R A o (source: 2011 Census). It has a total population of 79,476, with d a a H oa c o d South R e a A355 A413 le Billericay d Wycombe p F Brentwoodem a a significant young population reflected by the average age of T r d Oxney m a o J28 A d Wickford R Harefield a v t o H e f M40 R n o 36. The 5 year projected population growth from 2013-2018 a a u r r s d e c o s R t o M o A n p a H Harrow A10 5 s P R e G B is 6%. The area benefits from a majority of occupiers who rent A127 in o a A12 a Cricklewood e Brent e n ls J29 d Ruislip BasildonR a L w L L o ic o Romford a a d h r A404 J16 Cross d o f t rather than own. rc o ie h l y h w d Wembley R le R R o k o o A40 C a Benfleet ic a a Uxbridge e d Southend-on-Sear d d Ivy d C Henley-on-Thames Road a d r a A34 R o R o d Canvey Maidenhead a r d W Slough d fo a UNIVERSITY A13 M25 Stanford-le-Hopeh o e s s A R Island t COLLEGE ( ) Southall s c d r A404 M London o n a f SCHOOL SPORTS l t O k li C J15 v a A e City Ro l GROUND ad O 5 o M4 LONDON s d e Fulham a e o v W Windsor e o R r Hounslow A2 u e d G n d d s a h a r t e s Clapham o b a Heathrow v o A HAMPSTEAD e R w Richmond A R M4 r d o e Dartford n S n e a CEMETERY READING o H h R e n o e A316 r s o o l R t d w a W r o d s Staines a Gravesend d n R d k e Sheerness a ( ) Ashford t F W o A329 M D R c b 7 R e k le o e eli a e o f r n Egham l 0 e Kingston J2 a s d s M H 4 b t B d b w c A20 E d y r A a o S Bracknall o c A o R h ft s m A23 u m R C Upon Thames ad rd a a Wokingham Ascot Bromley on Ro ka o lo r li s a An S s a R J12 A d e Swanley R o A309 5 o a A3 ad a d M3 o d J3 Gillingham R A322 Croydon Rochester u d nd Roa o Walton-on-Thames eyes R Bagshot A232 A21 M2 K Sutton M25 M20 Sandhurst M25 Epsom Sittingbourne Shoreham Snodland J10 Woking A217 Biggin Hill A339 A22 J9 J5 M26 M20 M3 Famborough Sevenoaks Fleet A331 A3 M25 Maidstone BASINGSTOKE J8 J7 J6 A34 Oxted Aldershot Reigate A26 GUILDFORD Dorking Redhill Famham A21 A24 Tonbridge A303 Godalming M23 Horley Paddock Royal Wood Staplehurst Alton Witley Gatwick Tunbridge Cranleigh A264 Wells A229 A31 Crawley Three Bridges North A264 East Grinstead Horsham Horsham A23 Haywards Heath Burgess Hill CRICKLEWOOD LANE LONDON NW2 DESCRIPTION RETAIL BRITANNIA BUSINESS CENTRE RESIDENTIAL The retail element of the property benefits from excellent frontage onto The Britannia Business Centre is a three storey office building located The residential element comprises a total of 14 x two bed and 1 x one Cricklewood Lane with loading accessed to the rear, via the car park. to the rear of the property and is accessed via a roadway to the east bed self-contained flats of which one is currently vacant. Unit 1, 3, 5 - Comprises a ground floor supermarket with first and second floor side of the property off 1-3 Cricklewood Lane. The property provides The flats are divided into two separate elements known as storage and ancillary accommodation. approximately 21,061 sq ft NIA and 25,111 sq ft GIA and benefits Kingsway Court and Queensway Court. from approximately 25 car parking spaces, some of which are Unit 7 – Comprises a ground floor retail unit with ancillary storage undercroft together with a six person lift serving all floors. Kingsway Court consists of three flats on first floor and four flats on currently trading as a public house. the second floor and is accessed from a ground floor entrance on The ground floor is fitted out as a walk-in medical centre and is let to Unit 9 – Comprises a ground floor retail unit with ancillary storage Cricklewood Lane. Queensway Court consists of eight flats over first Barndoc Healthcare Ltd. The ground floor external area is used for currently trading as a convenience store. and second floors and accessed to the rear of the property. the undercroft parking and accessed via the car park which leads to Unit 9 A & B – Comprises a vacant double ground floor retail unit the reception. The first and second floors are currently vacant. (former bathroom showroom), with ancillary storage facilities and two separate access points to the rear.
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