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- Rare Freehold property situated in the heart of Camden and a stone’s throw from Mornington Crescent Underground Station.

- A highly characterful warehouse style building that benefits from exceptional ceiling heights.

- Existing Art Gallery and Residential accommodation with potential for alternative uses.

- Current floor area totalling 11,456 sq ft GIA.

- Scope to add significant floor area via extensions and installing mezzanine levels.

- Historic planning permission for approximately 17,000 sq ft GIA office/residential scheme.

- Of interest to owner occupiers, investors and developers.

- We are instructed to seek offers in excess of £7,000,000.

- Low capital value of £611 psf on the existing Gross Internal Area.

Investment Summary

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Of interest to Investors, Developers + Owner Occupiers

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The Property is situated on the corner of Symes Mews and Camden High Street. Camden High Street is a principle route linking two of London’s most thriving areas Camden and Kings Cross.

Camden is a highly popular office location particularly attractive to London’s TMT and Fashion occupiers. It is also world famous for its leisure and retail offering served by iconic music venues, bars and restaurants.

Located approximately 0.9km (0.6 miles) to the south east, Kings Cross is London’s largest and most successful regeneration project. Covering 134 acres the area is now home to numerous residential and office developments alongside shops, restaurants and a university campus. Kings Cross has attracted global companies including Google and Universal Music. Google have chosen King’s Cross to be home to their new 920,000 sq ft UK Headquarters.

Location

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KOKO, Camden – the iconic music venue.

Greater London House – ASOS HQ .

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Local Amenities & Transport LinksThe Property benefits from excellent transport links. Mornington Crescent Station is located a stone’s throw away providing direct links to London Euston and King’s Cross St Pancras via the Northern Line. Camden Road train station is a short walk away and provides direct links to Stratford via the London Overground. King’s Cross St Pancras is served by six Underground lines, two National Rail Stations and the Eurostar service which provides access to Paris and Brussels.

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1 La Patagonia 2 Band of Burgers 3 BYOC Camden4 The Lyttelton Arms 5 Leyas6 Pret A Manger

7 Cobden Arms 8 Be At One Camden 9 The Beatrice 10 KOKO Camden 11 Inamo12 Camden Bakery

13 ASOS HQ 14 Y&R London 15 Revlon International16 Camden Town Library

BARS,RESTAURANTS & NIGHTCLUBS OCCUPIERS

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STATION DISTANCE WALKING TIMES

Mornington Crescent 0.1 miles 2 minutes

Camden Town 0.3 miles 7 minutes

Camden Road 0.5 miles 10 minutes 15

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Existing Accommodation

Site Plan

The property is currently used as an Art Gallery under D1 use.

We have been provided with the following floor areas:

FLOOR GIA (SQ FT) GIA (SQ M)

Ground 5,568 517.3

First 3,788 351.9

Second 2,100 195.1

TOTAL 11,456 1,063.3

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The Property is prominently situated directly to the rear of a parade of buildings between 15 Camden High Street and the junction of Symes Mews and can be accessed via an entrance on Symes Mews and via a gated passageway from the High Street.

The highly characterful property has most recently been operated as an Art Gallery (D1 Use). The space is very unique benefitting from an abundance of natural light, fantastic ceiling heights and a private courtyard.

This is a print of the view of the title plan obtained from HM Land Registry showing the state of the title plan on 20 March 2018 at 18:12:36. This title plan showsthe general position, not the exact line, of the boundaries. It may be subject to distortions in scale. Measurements scaled from this plan may not matchmeasurements between the same points on the ground.

This title is dealt with by HM Land Registry, Croydon Office.

©Crown Copyright. Produced by HM Land Registry. Reproduction in whole or in part is prohibited without the prior written permission of Ordnance Survey.Licence Number 100026316.

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Existing Building

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Existing Floor Plans

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Tenure

Tenancy

The Property is held Freehold.

The property is to be sold with the following tenancy profile;

- Tenant - CTU Community Project

- Passing Rent - £50 per week + VAT

- Term – One Year from the Term Commencement Date, 1st January 2018

- Option to Determine – One-month notice

Development / Asset Management PotentialThe Property has most recently been occupied by an Art Gallery predominantly under D1 Use.

The Property has a history of a number of different uses (A1, B1 and C3) and has great potential to significantly increase the floor area through extensions and installing mezzanine levels subject to obtaining necessary planning permissions.

The Property is located within the London Borough of Camden and is not Listed.

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2008 (2012 Renewal) Planning PermissionRenewal of Full Planning Permission was granted on 6 April 2012 (reference 2011/3764/P), for alterations and extensions including the addition of a second floor extension and a full height side extension, in association with the change of use from a film studio, workshop (Class B1) and a tattoo parlour (Class A1) to an art gallery (Class D1) and 2 x self-contained studio flats (Class C3). (Renewal of 2008 permission reference 2008/0931/P)

2007 Planning Permission (Lapsed)Full Planning Permission was granted on 11 June 2007 (reference 2007/1271/P), for a change of use from tattoo parlour (Class A1) to offices (Class B1) at ground level including minor alterations to existing facades and the demolition of existing wc block and glazed structure. Erection of a 1 and 2 storey roof extension, to provide additional offices (Class B1) and three self-contained flats (Class C3).

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Investment Market

Occupational Market

Demand for vacant and short term income Freehold buildings has remained strong across Central London. The forefront of this market comprises Owner Occupiers and Serviced Office Operators. This Property is likely to be of interest to both as it will appear as a ‘blank canvas’ giving both Occupiers and Operators the ability to create a bespoke offering.

A schedule of the most recent and comparable transactions is provided below:

The Property would also command interest from investors / developers alike who may look to enhance the buildings income potential through refurbishment and/or explore alternative uses (Office/Residential/Leisure).

A schedule of the most recent and comparable office lettings is provided below:

DATE PROPERTY TENANCY PRICE (£)

PRICE (PSF)

Q3 201741-43 Chalton Street, NW1

Vacant Possession

13,350,000 £782

Q4 2016106-110 Kentish Town Road, NW1

Multi let Investment

25,300,000 £681

Q1 2016York House, 207-221 Pentonville Road, N1

Vacant Possession

34,250,000 £818

Q1 2016Old Sorting House, Essex Road N1

Vacant Possession

14,000,000£889psf (Existing GIA) £687psf (proposed NIA)

DATE PROPERTY RENT (PSF)

SIZE COMMENTS

Q1 2018 128 Albert Street, NW1 £52.50 13,339 sq ftFitted out warehouse style office

Q3 2017 64 Rochester Place, NW1 £55.00 1,732 sq ftSelf-contained mews building

Q3 2017 Utophia Village, NW1 £55.00 1,905 sq ftRefurbished mews development

Q3 2017 163 - Eversholt Street, NW1 £55.00 4,162 sq ft Refurbished office.

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Price

Further Information

We are instructed to seek offers in excess of £7,000,000 (Seven Million Pounds) subject to contract and exclusive of VAT, which reflects a low capital value of £611 per sq ft.

Disclaimer:

ADS RE Ltd (ADS RE) on its own behalf and on behalf of the vendors / lessors of the properties whose agent ADS RE is, gives notice that:

1 (a) All particulars provided are given as a general outline only for the guidance of the intending purchaser, lessee or tenant, and do not constitute in whole or in part, an offer of contract for sale or lease; (b) Whilst all particulars of properties given including but not limited to descriptions, dimensions, references to condition and necessary permissions for use and occupation and maps are believed to be correct and are given in good faith, they are however given without responsibility. None of the statements contained in these particulars as to the property are to be relied upon as statements or representations of fact; (c) The vendor / lessor does not make or give, and neither ADS RE 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 any properties. 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 / lessees or tenants should not rely on any particulars provided and are strongly advised to; (a) Satisfy themselves by inspection or otherwise as to the correctness of each statement contained in these particulars; (b) Inspect the property and the neighbouring area; ensure that any items expressed to be included are available and in working order; (c) Arrange a full measured, structural (and where appropriate environmental) survey of the property; and (d) Carry out all necessary searches and enquiries. April 2018

For further information please contact:

ADS REAL ESTATE ADVISORS

Dom Sidoli 020 3418 2040 dom@adsre.co.uk

George Collins 020 3418 2060 george@adsre.co.uk

ADS Real Estate Advisors 6 Brook Street London W1S 1BB

www.adsre.co.uk

ROBERT IRVING BURNS

Damien Field 0207 927 0620 damien@rib.co.uk

Ben Blausten 0207 927 6331 ben@rib.co.uk

Robert Irving Burns 23-24 Margaret Street London W1W 8LF

www.rib.co.uk

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