PRIVATECLIENT

140/142 CAMDEN HIGH STREET LONDON, NW1 0NG

RARE MIXED USE INVESTMENT AND DEVELOPMENT OPPORTUNITY IN HISTORIC CAMDEN

CAMDEN

INVESTMENT CONSIDERATIONS ■ A rare opportunity to acquire a mixed use investment in the heart of Camden

■ Camden Market is the fourth most popular tourist attraction in London, attracting approximately 100,000 visitors every weekend

■ Prominent situation on Camden High Street with return frontage to Greenland Street

■ Situated within 115m of Camden Underground station

■ Commercial element let to the strong covenant of Lloyds Bank Plc who have operated at this address for 20 years

■ Residential upper parts extending to 450 sq m (4,848 sq ft) GIA excluding common parts

■ Total Passing Rent of £275,612 per annum

■ Freehold

■ Asset Management Opportunities including reconfiguration and redevelopment and extension of the upper parts (as illustrated in red above)

■ Offers sought in excess of £6,000,000 (Six Million Pounds) for the freehold interest, subject to contract and exclusive of VAT.

■ Property outline for identification purposes only. ■ Proposed extension (Option 2).

PRIVATE CLIENT

LOCATION

Camden Town is located in North West London, approximately 2 km (1.4 miles) from London’s West End and 6 km (3.6 miles) from the City of London. The area is principally known for its street markets which have been successfully trading in this location since the early 1970s. Camden offers 6 individual street markets which together act as a major tourist attraction, with the area ranked as London’s fourth most visited tourist attraction benefitting from the city’s annual 27 million visitors. Camden is known across the globe for its eclectic mix of street markets, bespoke shops and popular leisure offerings.

140/142 CAMDEN HIGH STREET, LONDON, NW1 0NG RARE MIXED USE INVESTMENT AND DEVELOPMENT OPPORTUNITY IN HISTORIC CAMDEN

Regent’sPark

London Zoo

TheRoundhouse

Morrisons

Camden Stables Market

CamdenMarket

PrimroseHill

Park Villege E (A5205)

Granby Terrace

Randolph St

Agar Grove

Agar Grove

Rousden St

P

ratt St

Greenland St

Plender St

King Henry’s Rd

Gloucester Ave

Regent’s Park Rd Gloucester Ave

Bayham St

Hawley Crescent

St Pancras Way

Royal C

ollege St

Crowndale Rd

Harrington Sq

Gloucester G

ate

Alb

any St

Outer Cir

B509 Adelaide Rd Chalk Farm Rd C

amden High St

K

en

tish

To

wn

Rd

Hawley Rd

Ca

md

en St

Eversholt St

Prince Albert Rd

Park

way

Delanc ey St

Camden Rd

Cam

den High St (A502)

Ha

mp

stea

d R

d

Lidingto n Pl

O

akl

ey

Sq

Ca

md

en St

CamdenRoad

CamdenRoad

CamdenTown

Euston

MorningtonCrescent

PRIVATE CLIENT

NORTHERN LINE

OVERGROUND

Camden Town is a popular residential and commercial centre and benefits from good road communications into Central London. Camden High Street links into the A400 which provides access into Central London via Euston Road (A501). The M1 linking London to the Midlands and the North commences 7km (5.3 miles) to the north west via the A502.

Camden Underground Station (Northern Line) is located on Camden High Street, immediately north of the subject property. The Northern Line connects North and South London via central stations of Leicester Square and Bank.

King’s Cross St Pancras International train station is located in close proximity to Camden. The station is home to Eurostar which connects London directly to Paris and the rest of continental Europe.

Camden is also well served by numerous bus routes connecting Camden to the rest of London.

Charing Cross9 mins

Bank 17 mins

Leicester Square8 mins

Moorgate 15 mins

Tottenham Ct Road6 mins

Old Street 6 mins

Goodge Street5 mins

Angel 5 mins

Warren Street5 mins

King’s Cross St Pancras

8 mins

Mornington Cresent1 mins Chalk

Farm2 mins

Belsize Park

4 mins

Hampstead

7 mins

Euston2 mins

140/142 CAMDEN HIGH STREET, LONDON, NW1 0NG RARE MIXED USE INVESTMENT AND DEVELOPMENT OPPORTUNITY IN HISTORIC CAMDEN

PRIVATE CLIENT

CA

MD

EN

TO

WN

UNDERGROUND

Gospel Oak

6 mins

Kentish Town West

2 mins

Highbury & Islington7 mins

Caledonian Road &

Barnsbury3 mins

Canonbury8 mins

Hampstead Heath8 mins

Finchley Rd & Frognal10 mins

Brondesbury13 mins

West Hampstead

12 mins

Dalston Kingsland10 mins

CA

MD

EN

RO

ADOVERGROUND

CITY WEST ENDKINGS CROSS & ST PANCRAS STATIONS

EUSTON STATION

CAMDEN TOWN

CAMDEN MARKET

CAMDEN HIGH STREET

CAMDEN LOCK

REGENT’S PARK

Outline for identification purposes only.

140/142 CAMDEN HIGH STREET, LONDON, NW1 0NG RARE MIXED USE INVESTMENT AND DEVELOPMENT OPPORTUNITY IN HISTORIC CAMDEN

PRIVATE CLIENT

SUBJECT PROPERTY

50 metres

For more information on our products and services:www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011

Camden Town

Experian Goad Plan Created: 18/02/2019Created By: Allsop

Copyright and confidentiality Experian, 2017. © Crowncopyright and database rights 2017. OS 100019885

CAMDEN TOWN

© Crown Copyright, ES 100004106. For identification purposes only.

140/142 CAMDEN HIGH STREET, LONDON, NW1 0NG RARE MIXED USE INVESTMENT OPPORTUNITY IN HISTORIC CAMDEN

PRIVATE CLIENT

SITUATION

The property is situated in the heart of Camden High Street on a prominent corner position with Greenland Street. Camden High Street benefits from a vast retail catchment which is strengthened by a number of restaurants, bars, clubs and concert venues all within a close proximity.

Nearby occupiers to the subject property include M&S Foodhall, Vodafone, Pret A Manger, Tesco Express, Boots, Waitrose, Waterstones and Burger King.

PRIVATE CLIENT

DESCRIPTION

The property forms a five-storey mixed-use corner building with a bank premises (A2) at ground floor and basement levels. The upper parts comprise residential accommodation (C3) over first, second, third and fourth floor levels forming 4 self-contained flats. The residential accommodation benefits from separate access off Greenland Street.

TENURE

Freehold.

140/142 CAMDEN HIGH STREET, LONDON, NW1 0NG RARE MIXED USE INVESTMENT OPPORTUNITY IN HISTORIC CAMDEN

PRIVATE CLIENT

TENANCY AND ACCOMMODATION SCHEDULES

Unit Floor Tenant Tenancy Area (Sq M)

Area (Sq Ft)

Lease Start Lease End Rent Review

Rent PA Comments

140/142 Camden High Street

Ground Lloyds TSB Bank Plc

186.36 2,006 25/12/2012 24/12/2022 £215,000 (£180 psf ITZA)

ITZA 118.64 1,277

Basement 132.85 1,430

Flat 1, 140a Camden High Street

First Private Individuals

AST 146.79 1,580 01/03/2018 31/08/2018 £21,600 3 Bedrooms, Kitchen, Reception Room, Bathroom

Flat 2, 140a Camden High Street

Second Private Individual

Regulated Tenancy

97.92 1,054 30/09/1982 n/a £9,371.50 2 Bedrooms, Kitchen, Reception Room, Bathroom

Flat 3, 140a Camden High Street

Third Private Individual

AST 107.58 1,158 18/05/2016 31/05/2017 £14,040 2 Bedrooms, Kitchen, Reception Room, Bathroom

Flat 4, 140a Camden High Street

Four Private Individuals

AST 98.01 1,055 01/03/2015 28/02/2017 £15,600 2 Bedrooms, Kitchen, Reception Room, Bathroom

769.51 8,283 £275,612

140/142 CAMDEN HIGH STREET, LONDON, NW1 0NG RARE MIXED USE INVESTMENT OPPORTUNITY IN HISTORIC CAMDEN

COVENANT

Lloyds Bank Plc, trading as Lloyds, is a British retail and commercial bank with branches across England and Wales. It has traditionally been considered one of the ‘Big Four’ clearing banks. The bank was founded in 1765 and is now the largest retail bank in Britain, with an extensive network of branches and ATMs across England and Wales.

The company reported the following financial performance:

31 Dec 2017 31 Dec 2016 31 Dec 2015

Sales Turnover £21,865,000,000 £20,900,000,000 £31,031,000,000

Profit Before Tax £5,035,000,000 £1,977,000,000 £1,372,000,000

Total Net Worth £47,675,000,000 £49,326,000,000 £43,108,000,000

Lloyds have operated from this address for approximately 20 years and it remains an important branch for them. Following a strategic overview of their portfolio the Camden Branch has remained open and the closest other branches are now located in Kentish Town (1 mile north) and Kings Cross (1.5 miles south east). Lloyds are established in their Camden address and discussions have been had about a further 5 year lease extension. Please refer to the agent for further information.

PRIVATE CLIENT

140/142 CAMDEN HIGH STREET, LONDON, NW1 0NG RARE MIXED USE INVESTMENT AND DEVELOPMENT OPPORTUNITY IN HISTORIC CAMDEN

CAMDEN RETAIL MARKET

Camden Town is an established retail destination within London benefiting from millions of tourists that visit each year. The area is famous for its markets, shops, restaurants, bars and live music venues which draws tourists and Londoners culminating in high footfall.

Camden is undergoing significant change with LabTech’s landmark mixed use development under construction at Hawley Wharf. The scheme is set to revitalise the railway arches and boost the retail offering as well as providing the largest farmer’s market in North London. The development will also incorporate 60 food and beverage spaces, 195 apartments and 60,000 sq ft of co working space.

There has been significant rental growth in Camden Town as is evidenced by the subject property. There was uplift at rent review in November 2017 where the rent moved from £190,000 pa to £230,000 pa to reflect £180 psf ITZA. Other lease events that show an improving rental tone have taken place recently in the nearby vicinity as demonstrated below:

Address Tenant Lease Event Rent psf ITZA

161 – 165 Camden High Street Tesco New Letting £215

158 Camden High Street Oseyo New Letting £260

146 Camden High Street Camden Local Store Rent Review £185

185 Camden High Street Wasabi New Letting £250

Prime rents in Camden Town have risen significantly across the last 5 years and currently sit at circa £415 psf Zone A.

140/142 CAMDEN HIGH STREET, LONDON, NW1 0NG RARE MIXED USE INVESTMENT AND DEVELOPMENT OPPORTUNITY IN HISTORIC CAMDEN

PRIVATE CLIENT

RESIDENTIAL ACCOMMODATION - EXISTING FLOORPLANS

Existing First Floor

Existing SecondFloor

Bedroom 1 Kitchen / Dining

Kitchen / Dining

Bedroom 2

Bedroom 2

Bedroom 3

Bathroom

Living Room

Bedroom 1

Living Room

EXISTING SECOND FLOOR

EXISTING FOURTH FLOOR

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Bedroom 1

Kitchen / Dining

Bedroom 2

Bathroom

Living Room

Bedroom 1

Kitchen / Dining

Bedroom 2

Bathroom

Living Room

Existing First Floor

Existing SecondFloor

Bedroom 1 Kitchen / Dining

Kitchen / Dining

Bedroom 2

Bedroom 2

Bedroom 3

Bathroom

Living Room

Bedroom 1

Living Room

EXISTING FIRST FLOOR

EXISTING THIRD FLOOR

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Bedroom 1

Kitchen / Dining

Bedroom 2

Bathroom

Living Room

Bedroom 1

Kitchen / Dining

Bedroom 2

Bathroom

Living Room

GIA (excluding common parts): 146.79 sq m (1,580 sq ft) GIA (excluding common parts): 97.92 sq m (1,054 sq ft)

GIA (excluding common parts): 107.58 sq m (1,158 sq ft) GIA (excluding common parts): 98.01 sq m (1,055 sq ft)

140/142 CAMDEN HIGH STREET, LONDON, NW1 0NG RARE MIXED USE INVESTMENT AND DEVELOPMENT OPPORTUNITY IN HISTORIC CAMDEN

PRIVATE CLIENT

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ASSET MANAGEMENT

The subject property, currently fully let, is located in a sought after central London location which experiences high rental demand. We are of the opinion that the current rent is below market rent and there is an opportunity to increase rental income / maximise individual resale values by refurbishing the existing accommodation.

Our opinion of the estimated rental value (ERV) of flats 1, 3 and 4 refurbished in current configuration and flat 2 (subject to regulated tenancy) in current configuration is in the region of £105,000 per annum. All interested parties should make their own enquiries.

REDEVELOPMENT

The property offers opportunity to redevelop and reconfigure the residential accommodation subject to obtaining the necessary planning consents.

Our clients submitted a pre-planning application enquiry on 22nd November 2018 for two proposed schemes. The pre-application response was positive with respect to option 2 which proposed the following:

“The erection of an additional two storeys (including mansard extension) at second floor level (along Greenland Street) and reconfiguration of existing residential units to provide 9x self-contained flats”

The full response from the council to the pre-application is available to inspect in the dataroom.

We are of the opinion that a proposed scheme such as option 2 will maximise rental income / individual resale values. Assuming planning permission is granted for the proposed scheme detailed in option 2, we are of the opinion that the ERV is in the region of £220,000 per annum. All interested parties should make their own enquiries.

PLANNING

Local Planning Authority The London Borough of Camden Website: www.camden.gov.uk

We understand that the property is not listed but it is situated within a Conservation Area.

Outline for identification purposes only.

140/142 CAMDEN HIGH STREET, LONDON, NW1 0NG RARE MIXED USE INVESTMENT AND DEVELOPMENT OPPORTUNITY IN HISTORIC CAMDEN

PRIVATE CLIENT

RESIDENTIAL ACCOMMODATION - PROPOSED FLOORPLANS

Apartment 3(37.2 sq m / 400 sq ft)

1 Bedroom

Apartment 2(39.8 sq m / 428 sq ft)

1 BedroomApartment 1

(41.2 sq m / 443 sq ft)2 Bedrooms

Apartment 4(44.5 sq m / 479 sq ft)

2 Bedrooms

Apartment 5(61.2 sq m / 659 sq ft)

2 Bedrooms

PROPOSED SECOND FLOOR

PROPOSED FOURTH FLOOR

Apartment 7(76.7 sq m / 825 sq ft)

2 Bedrooms

Apartment 6(64.9 sq m / 698 sq ft)

2 Bedrooms

Apartment 9(63.5 sq m / 683 sq ft)

1 Bedroom

Apartment 8(76.7 sq m / 825 sq ft)

1 Bedroom

Apartment 3(37.2 sq m / 400 sq ft)

1 Bedroom

Apartment 2(39.8 sq m / 428 sq ft)

1 BedroomApartment 1

(41.2 sq m / 443 sq ft)2 Bedrooms

Apartment 4(44.5 sq m / 479 sq ft)

2 Bedrooms

Apartment 5(61.2 sq m / 659 sq ft)

2 Bedrooms

PROPOSED FIRST FLOOR

PROPOSED THIRD FLOOR

Apartment 7(76.7 sq m / 825 sq ft)

2 Bedrooms

Apartment 6(64.9 sq m / 698 sq ft)

2 Bedrooms

Apartment 9(63.5 sq m / 683 sq ft)

1 Bedroom

Apartment 8(76.7 sq m / 825 sq ft)

1 Bedroom

GIA (excluding common parts): 118.2 sq m (1,271 sq ft) GIA (excluding common parts): 170.6 sq m (1,836 sq ft)

GIA (excluding common parts): 141.6 sq m (1,523 sq ft) GIA (excluding common parts): 135.3 sq m (1,456 sq ft)

PROPOSALOffers sought in excess of £6,000,000 (Six Million Pounds) for the freehold interest, subject to contract and exclusive of VAT.

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 03.19

allsop.co.uk

For further information or to make arrangements for viewing please contact:

PRIVATE CLIENT TEAM RESIDENTIAL INVESTMENT & DEVELOPMENT

Alex Butler020 7543 6722alex.butler@allsop.co.uk

Michael Linane020 7344 2623michael.linane@allsop.co.uk

Jonathan Butcher020 7543 6755jonathan.butcher@allsop.co.uk

Owen Rees020 7344 2643owen.rees@allsop.co.uk

EPCsAvailable within the dataroom.

VATThe property is not elected for VAT.

DATAROOMFor access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/camden

CAMDEN