2-6 hampstead high street london nw3

12-6 HAMPSTEAD HIGH STREET, LONDON NW3

2-6 Hampstead High Street London NW3Rare Prime Retail and Office Investment


INVESTMENT SUMMARY• Substantial retail, office and residential corner block located in the affluent and sought-after London Suburb of Hampstead.

• Situated within a 100% prime pitch on the eastern end of Hampstead High Street.

• Retail tenants include: Gap, Oliver Bonas and Whistles.

• Total income of £503,200 per annum.

• Freehold.

• Potential for alternative uses on the existing office space and the rear car park, subject to necessary planning consents.

• Offers in excess of Offers in excess of £9,920,000 (NINE MILLION NINE HUNDRED AND TWENTY THOUSAND POUNDS) subject to contract and exclusive of VAT.

• Net initial yield of 4.75% after allowance for purchaser’s costs of 6.8%

2-6 HAMPSTEAD HIGH STREET, LONDON NW3 3

LOCATIONHampstead is one of London’s most affluent “village” locations, having more millionaires within its boundaries than any other area in the UK. 791 acres of Hampstead Heath provides one of London’s oldest and most visited parks, which alongside the areas period architecture, numerous restaurants, bars & cafes, make up Hampstead’s famous community creating a thriving hub for both retailing and leisure activity.

Whilst home to wealthy city financiers, celebrities and business entrepreneurs, Hampstead has managed to retain its original village feel with 18 Grade II listed properties on Hampstead High Street alone. It is this undoubted charm that has continued to draw major national retailers to the area and make Hampstead an internationally renowned retailing destination.

Hampstead is situated approximately 4 miles (6.4 km) north of central London, lying within the London Borough of Camden. Road communications in and around Hampstead are excellent with the A41 Finchley Road and the A406 linking directly to junction 1 of the M1 motorway, 3.2 miles (5 km) to the north.

Hampstead benefits from strong public transport facilities with Hampstead Underground Station (Northern Line) situated in close proximity to the subject premises. Hampstead Heath and Finchley Road Overground Rail Stations are also located within close proximity. Hampstead has a major bus terminal known as Hampstead Heath located nearby South End Green. Its most frequent service is route 24 which has over 100 years been linked to the area with nearby West End and Victoria. There are numerous other bus routes that currently serve Hampstead.

Heathrow International Airport is located just 22 miles (35 km) from the west of Hampstead.

R E G E N T S PA R K

H A M P S T E A DH E AT H

P R I M R O S EH I L L

CRIC

KLEW

OO

D B

RO

AD

WAY

KILB

URN

HIG

H R

OA

D

MA

IDA

VALE

A5

98

WILLESDEN LANE

HARROW ROAD A404

A5205

WEST E

ND

LA

NE

ABBEY RO

AD

B517

SALIS

BU

RY

RO

AD

B413 CARLTON VALE

B413

A5

02

ROSSLYN HILL

HAVERSTOCK HILL

A5205

A41

A41

BELSIZE PARK

HAMPSTEAD

ST. JOHNSWOOD

MAIDAVALE

KILBURN

BRONDESBURY PARK

WEST HAMPSTEAD

FINCHLEY RD

FINCHLEY RD& FROGNAL

HAMPSTEAD


DEMOGRAPHICS

SITUATION

Hampstead is home to some of the most expensive housing in the London area, or indeed anywhere in the world. Hampstead’s affluence is highlighted by the percentage of catchment population employed with the professional occupation, which stands at 21% compared to the national average of 11%. Average weekly disposable income is £690 compared to the GB average of £485.

Hampstead has a large resident catchment population of 482,500 people.

The subject property is situated in a prominent prime position at the northern side of Hampstead High Street. Local occupiers in the area include: Reiss, HSBC, Hobbs, The Kooples, Cote, Waterstones, Boots and Café Rouge.

2-6 High Street


DESCRIPTION

TENURE

The subject property comprises a substantial corner retail, office and residential block. The retail element is split into two self-contained units and two further units that have been combined to provide one large retail unit. Each unit benefits from principal entrances fronting onto Hampstead High Street.

The office element is located on the first floor of the property, while the residential element provides four self-contained flats on the second and third floor of the property. Access to the residential and office accommodation is provided via a side road located at the eastern elevation of the property.

There is a car park to the rear of the property accessed via the side road providing approximately 8 parking spaces.

Freehold.

OS Plan B&W

526600526600

526700526700

185600 185600

185700 185700

0 5 10 20 30 40 50

Metres

Scale: 1:1250

2-6 Hampstead High Street

LondonNW3 1PRSupplied by: National Map Centre

HertsLicense number: 100031961Produced: 27/09/2017Serial number: 1890700

Plot centre co-ordinates: 526647,185648Download file: lewispart_2-6hampstead.

zipProject name: lewispart_2-6hampstead

© Crown copyright and database rights 2017. OS 100031961


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12 - 26

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15 - 19

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32

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1- 2

1 - 37

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24

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1 - 8

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HAMPSTEAD

HAMPSTEAD

0 10 20 30 40 m


ACCOMMODATION & TENANCYThe subject property is multi let producing a current income of £503,200 per annum, in accordance with the tenancy and accommodation schedule below.

Address Tenant Description Area (Sq m) Area (Sq ft) Lease Terms Rent Review Rent £pa EPC

2 Hampstead High Street First Urban Properties Ltd First Floor Offices 254.37 2,738

5 years

From: 25/03/2015

To: 24/03/2020

£88,000* E

3 Hampstead High Street Whistles Ltd

Ground Floor Sales

Ground Floor Ancillary

Ground Floor ITZA

89.15

6.71

56.95

960

72

613

10 years

From: 01/11/2014

To: 31/10/2024

01/11/2019 £115,800 D

4 Hampstead High Street Oliver Bonas Ltd

Ground Floor Sales

Ground Floor Ancillary

Ground Floor ITZA

60.12

29.12

41.81

647

313

450

10 years

From: 18/09/2009

To: 17/09/2019

17/09/2019 £91,250 D

5 Hampstead High Street GPS (Great Britain) LtdGround Floor Sales

Ground Floor ITZA

79.76

45.79

859

493

5 years

From: 24/06/2015

To: 23/06/2020

£94,500 C

6 Hampstead High Street GPS (Great Britain) LtdGround Floor Sales

Ground Floor ITZA

118.91

52.40

1,280

564

5 years

From: 24/06/2015

To: 23/06/2020

£114,000 C

Car Parking First Urban Properties Ltd

5 years

From: 26/03/2015

To: 25/03/2020

£10,250

Hampstead High St 2/6 - Flats 3a-d Expring 07/11/2160 15/11/2034

Total 638.13 6,869 £503,200

* £88,000 per annum is the gross rent which is inclusive of S/C and insurance payments fixed for the term of the lease of £10,600. Therefore, the net rent is £77,400 per annum.


Oliver Bonas Ltd

Oliver Bonas is an established national retailer specialising in fashion and homeware. The company operates out of over 61 stores in locations across the UK.

For the year ending 31/12/2016 Oliver Bonas Ltd reported a turnover of £50.098M and pre tax profits of £4.069M. For the same period the company reported a net worth of £5.83M.

GPS (Great Britain) Limited (T/A Gap)

Gap is one of the largest and most recognisable clothing brands in the world with over 3,727 stores located in locations worldwide. The company employs over 135,000 people and is the 3rd largest fashion retailer in terms of international locations. The company also has several well-known subsidiaries such as: Banana Republic, Old Navy, Intermix and Athletica.

for the year ending 28/01/2017 GPS (Great Britain) Limited reported a turnover of £276.34M and a net worth of £59.71M.

Whistles Ltd

Whistles is a contemporary fashion brand operating out of over 110 stores in various high streets and shopping centres across the UK, 39 of which are in London. The company also has stores in Dubai, Tokyo, Zurich, Madrid, Singapore, Dublin and Hong Kong.

For the year ending 28/01/2017 GPS (Great Britain) Limited reported a turnover of £276.34M and a net worth of £59.71M.

COVENANT INFORMATION


VATValue added tax will be applicable to the sale of this property.

PROPOSALWe are seeking offers in excess of £9,920,000 (NINE MILLION NINE HUNDRED AND TWENTY THOUSAND POUNDS) subject to contract and exclusive of VAT. A purchase at this level will reflect a net initial yield of 4.75% after allowance for unadjusted purchaser’s costs of 6.8%.


FURTHER INFORMATION

Should you wish to view the property or require any further information please contact the sole agents.

15/19 Cavendish Place, London W1G 0QE Tel: 0207 580 4333

www. lewisandpartners.com

Stephen [email protected]

Joseph [email protected]

Steven [email protected]

SUBJECT TO CONTRACT AND EXCLUSIVE OF VAT

1. These particulars do not constitute any part of the offer for sale or contract for sale.2. All statements contained in these particulars as to this property are made without responsibility on the part of Lewis & Partners LLP or the vendors or lessors.3. None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.4. Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars.5. Any plans or photographs or drawings shown in these particulars are to enable prospective purchasers or tenants to locate the property. The plans are photographically reproduced and therefore not to scale except where expressly stated. The plans, photographs or drawings are for identification purposes only.6. No warranty or undertaking is given in respect of the repair or condition of the properties or any items expressed to be included in the sale.7. Any properties or drawings of the relevant property or part thereof or the neighbouring areas may not depict the property or the neighbouring areas at the date a prospective purchaser or tenant inspects the property. Prospective purchasers are strongly advised to inspect the property and neighbouring areas.8. Lewis & Partners LLP have not measured the property and have relied upon clients information. Therefore Lewis & Partners LLP give no warranty as to their correctness or otherwise and the purchasers must rely on their own measurements.9. All terms quoted are exclusive of value added tax unless otherwise stated.10. The vendors do not make nor do Lewis & Partners LLP nor any person(s) in their employment give any warranty whatsoever in relation to this property.11. These details are believed to be correct at the time of compilation but may be subject to subsequent amendment.12. These details were prepared as of SEPTEMBER 2018 Adrian Gates Photography & Design 07710 316 991

LEWIS & PARTNERS LLP FOR THEMSELVES AND FOR THE VENDORS OF THIS PROPERTY WHOSE AGENT THEY ARE GIVE NOTICE THAT:-

2-6 hampstead high street london nw3

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