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Home , Bayswater, Central London, Knightsbridge, Maida Vale, Marylebone, Notting Hill

MIXED USE INVESTMENT OPPORTUNITY 2 3

Investment Summary Freehold, modern mixed use block strategically located to benefit from the wider regeneration taking place in Kilburn. g 50 units (extending to 2,813 sq g Lower ground floor unit (extending g Ability to re-configure the serviced m / 30,290 sq ft GIA including to 604 sq m / 6,500 sq ft NIA) let to apartments into 73 self contained common parts) comprising 38 high Big Stack Ltd producing £40,000 serviced suites (2008/1336/P). specification serviced apartments per annum. g Potential for an additional floor at (C1) arranged over first-third floors, g Situated next to Kilburn High roof level, subject to the necessary and 12 residential apartments Road Overground Station and consents. (C3) on the fourth floor, let to SO approximately 500m from Kilburn Quartier producing an income of g For sale as a single lot, subject to the Park Underground Station (Travel £1,080,000 per annum. existing tenancies and leases. Zone 2 - ). g Ground floor retail unit (extending g Located on the edge of to 613 sq m / 6,600 sq ft NIA) let providing quick access into Notting to Tesco producing £145,700 per Hill, the and Central annum. .

Units: 38 serviced apartments (C1); 12 residential apartments (C3); Basement Gym (D2) and Ground floor retail (A1) Total Area: Approximately (4,031 sq m) 43,390 sq ft

Net Income: £1,265,700 per annum

Tenure: Freehold

Occupancy: 100% 4

LOCATION KILBURN WEST

BRONDESBUR Y

Kilburn benefits from excellent KILBURN

transport communications. HIGH ROAD

SOUTH

HAMPSTEAD

The building is located on the east Travel Times F I

N

side of Kilburn High Road (A5) in KILBURN C H

Oxford Circus 13 minutes HIGH ROAD L E

Kilburn, NW6 in the London Borough of Y

R

Camden. It is approximately 4 miles Mainline 4 minutes O QUEEN’S A D (6.6 km) north west of Station PARK while Maida Vale is 0.9 miles (1.45 km) Piccadilly Circus 16 minutes KILBURN PARK ST JOHN’S WOOD

QUEEN’S PARK M to the south, Hampstead is 1.7 miles A ID London Euston 11 minutes A V (2.7 km) to the west, Regent’s Park is A L Mainline Station E

approximately 1.2 miles (1.9 km) to the REGENT’S PARK south east.

Kilburn High Road is served by a MAIDA VALE number of bus routes. The A5 (Kilburn P The area benefits from excellent ARK RO High Road) links Kilburn with Central transport communications. Adjacent AD London to the south and north towards to the property is Kilburn High Road E DGWA Overground station providing access the . R E to London Euston in 11 minutes. Kilburn RO A REGENT’S WARWICK D AVENUE PARK Park Underground Station (Bakerloo LONDON W Line) is approximately 500m to the EST WA WESTBOURNE Y HARRO south providing direct access to Central PARK W ROAD EDWARE London, Circus, Paddington ROAD ROYAL OAK Overground Station and Piccadilly Y WA Circus. ST WE LONDON PADDINGTON

BOND STREET E K PLAC DE PAR HY

BAYSWATER D R ROA LANCASTER SWATE BAY GATE

QUEENSWAY GATE HYDE PARK E RK AV PA ND HOLLAND LLA PARK HO

HYDE PARK CORNER HIGH STREET

Not to scale - for indentification purposes only 5

Regeneration The surrounding area is currently undergoing significant regeneration.

South Kilburn Regeneration Argo Business Centre 34A - 36 Kilburn High Road is located This mixed use development comprising close to the South Kilburn regeneration 93 residential flats in addition to 1,406 area and will therefore benefit from sq m of office space (B1) was granted an on-going investment programme full planning permission in May 2013 due to complete in January 2023. and is to be delivered by The Masterplan includes the creation Developments. It is located on Kilburn of 2,400 homes in addition to public Park Road within walking distance of amenities. Notable schemes that are 34A-36 Kilburn High Road. due to commence in the near future include Tollgate Gardens Estate (248 dwellings) that is to be developed by Citywest Homes and a development of 144 residential units on Albert Road which has recently gained full planning permission.

Kilburn Park This Catalyst Housing development is currently under construction and once completed will provide 144 apartments. Situated on Cambridge Avenue, it is directly off Kilburn High Road and opposite 34A – 36 Kilburn High Road. This scheme is next to Kilburn Park Underground Station. 6

Description 34A – 36 Kilburn High Road was built in 2006 and is arranged over basement, ground and four upper floors.

There are 50 apartments in total in the The ground floor retail unit (A1) is let to building, 38 of which are designated as Tesco for a term of 20 years from 23rd C1 aparthotel use arranged over the June 2006 at a rent of £145,700 per first to third floors and 12 of which are annum, following a recent rent review. C3 residential, arranged on the fourth floor. The basement unit (D2) is let to Fitness for Less, which is a subsidiary of Big The serviced apartments benefit from Stack Ltd, for a term of 15 years from permission to be subdivided into 73 21st September 2012 at a rent of self contained serviced suites. The £40,000 per annum. principal entrance and reception area are situated on Kilburn High Road providing lift access to all floors. The aggregate gross internal area of the 50 apartments is 2,813 sq m / 30,290 sq ft (including common parts). All of the units are let to So Quartier Ltd for a term of 5 years expiring on 15th April 2017. There is the option to gain vacant procession subject to 3 months notice prior to 16th April each year. 7

Planning There is permission in place to re- configure the 38 serviced apartments on the first to third floors into 73 self-contained serviced suites (2008/1336/P).

In addition, conceptual plans have been drawn up for an extra floor (5th level) for a scheme of five residential apartments (1 one bedroom and 4 two bedroom apartments). These are to be submitted imminently. 8

FLOOR PLANS N

Typical Floor Plan (1-4)

SPRINGFIELD LANE SPINGFIELD LANE

KILBURN HIGH ROAD

Not to scale - for indentification purposes only 9 10

Accommodation schedule

PROPERTY INFORMATION RENTAL INFORMATION Block Unit/Apartment Gross Gross Gross Gross Floor Beds Use Tenancy Tenancy Tenancy Tenant Rent Received Rent Review Break No. internal area internal area internal internal Class Type Start End (p.a.) Clause of units (Sq ft) of units (Sq m) area (Sq ft) area (Sq m) Big Stack Ltd Gym 6,500 603.9 6,500 603.87 Basement N/A D2 FRI 21/09/12 20/09/27 Big Stack Ltd £40,000 21st September, 2.5% fixed uplift Tesco Retail Unit 6,600 613.2 6,600 613.16 Ground N/A A1 FRI 23/06/06 22/06/26 Tesco £145,700 5 yearly rent reviews to market rent Serviced 1 398 37.0 1 Apartments 2 495 46.0 1 3 431 40.0 1 4 409 38.0 1 5 463 43.0 1 6 420 39.0 1 7 441 41.0 First 1 8 506 47.0 1 9 484 45.0 1 10 484 45.0 1

11 479 44.5 1 Yearly on 16th 3 months So Quartier 12 721 67.0 2 C1 IRI 16/04/12 15/04/17 £1,080,000 April, indexed to a notice prior Limited maximum of 2.5% to 17th April 13 684 63.5 7,922.00 735.98 2 14 398 37.0 1 15 495 46.0 1 16 431 40.0 1 17 409 38.0 1 18 463 43.0 1 Second 19 420 39.0 1 20 441 41.0 1 21 506 47.0 1 22 484 45.0 1 23 484 45.0 1 24 479 44.5 1 11

PROPERTY INFORMATION RENTAL INFORMATION Block Unit/Apartment Gross Gross Gross Gross Floor Beds Use Tenancy Tenancy Tenancy Tenant Rent Received Rent Review Break No. internal area internal area internal internal Class Type Start End (p.a.) Clause of units (Sq ft) of units (Sq m) area (Sq ft) area (Sq m) Serviced 25 721 67.0 2 Apartments 26 684 63.5 7,922.00 735.98 2 27 398 37.0 1 28 495 46.0 1 29 431 40.0 1 30 409 38.0 1 31 463 43.0 1 C1 32 420 39.0 1 Third 33 441 41.0 1 34 506 47.0 1 35 484 45.0 1 36 527 49.0 1 Yearly on 16th 3 months 37 587 54.5 1 So Quartier IRI 16/04/12 15/04/17 £1,080,000 April, indexed to a notice prior Limited 38 667 62.0 7,223.00 671.04 2 maximum of 2.5% to 17th April Residential 39 398 37.0 1 Units 40 495 46.0 1 41 431 40.0 1 42 409 38.0 1 43 463 43.0 1 44 420 39.0 1 Fourth C3 45 441 41.0 1 46 506 47.0 1 47 484 45.0 1 48 527 49.0 1 49 587 54.5 1 50 667 62.0 7,223.00 671.04 2 Total: 24,486 2,274.8 43,390 4,031 £- £1,265,700

*These floor areas have been supplied by the vendor and we understand they have been measured in accordance with the RICS Code of Measuring Practice. Tenure FUNDING Contacts The property is held freehold. SPF Private Clients has relationships For further information or to arrange viewing please contact the vendor’s selling with a variety of debt sources that are agents Savills & Colliers International: eager to provide attractive financing VAT packages for residential investments Savills UK Colliers International such as Kilburn High Road. SPF Darren Arnold Andrew White We understand the property is elected Private Clients has sourced indicative [email protected] [email protected] for VAT. terms with senior debt up to 75% LTV 020 7409 9926 020 7344 6722 available, subject to credit approval. To discuss further please contact a James Laverack Elliot Dobie Method of Sale member of the team. [email protected] [email protected] 020 7016 3770 020 7344 6719 The properties are offered for sale by Davina Clowes way of private treaty, as a single lot, Further [email protected] and subject to the existing tenancies 020 7016 3838 and leases. information A full set of background information is Viewings available on a secure website: Viewings are strictly by appointment www.kilburnhighroadnw6.com through the selling agents Savills & EPCs can be accessed here. Colliers International.

Important Notice

Savills and Colliers International, their clients and any joint agents 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.

Designed and Produced by Savills Marketing: 020 7499 8644 | February 2014