M I X E D U S E I N V E S T M E N T O P P O R T U N I T Y

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Investment summaryFreehold, modern mixed use block strategically located to benefit from the wider regeneration taking place in Kilburn.

g 50 units (extending to 2,813 sq m / 30,290 sq ft GIA including common parts) comprising 38 high specification serviced apartments (C1) arranged over first-third floors, and 12 residential apartments (C3) on the fourth floor, let to SO Quartier producing an income of £1,080,000 per annum.

g Ground floor retail unit (extending to 613 sq m / 6,600 sq ft NIA) let to Tesco producing £145,700 per annum.

g Lower ground floor unit (extending to 604 sq m / 6,500 sq ft NIA) let to Big Stack Ltd producing £40,000 per annum.

g Situated next to Kilburn High Road Overground Station and approximately 500m from Kilburn Park Underground Station (Travel Zone 2 - Bakerloo Line).

g Located on the edge of Maida Vale providing quick access into Notting Hill, the West End and Central London.

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%

g Ability to re-configure the serviced apartments into 73 self contained serviced suites (2008/1336/P).

g Potential for an additional floor at roof level, subject to the necessary consents.

g For sale as a single lot, subject to the existing tenancies and leases.

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EDGWARE ROAD

KILBURN HIGH RO

AD

MAIDA VALE

WESTWAY

WESTWAY HARROW ROAD

FIN

CH

LEY R

OA

D

PARK ROAD

HOLLAND PARK AVE

BAYSWATER ROAD

HYDE PARK PLACE

HYDE PARK

REGENT’S PARK

PRIMROSE HILL

QUEEN’S PARK

KILBURN PARK

KILBURN HIGH ROAD

LONDONPADDINGTON

MARBLE ARCHBOND STREET

EDWAREROAD

REGENT’SPARK

LANCASTERGATE

QUEENSWAY

NOTTING HILLGATE

HOLLANDPARK

LONDONMARYLEBONE

BAKER STREET

ROYAL OAK

WESTBOURNEPARK

MAIDA VALE

WARWICKAVENUE

BAYSWATER

KNIGHTSBRIDGE

HYDE PARKCORNER

HIGH STREETKENSINGTON

ST JOHN’S WOOD

SWISS COTTAGE

SOUTHHAMPSTEAD

QUEEN’SPARK

KILBURN

BRONDESBURY

WESTHAMPSTEAD

LOCatIOnKilburn benefits from excellent transport communications.The building is located on the east side of Kilburn High Road (A5) in Kilburn, NW6 in the London Borough of Camden. It is approximately 4 miles (6.6 km) north west of Central London while Maida Vale is 0.9 miles (1.45 km) to the south, Hampstead is 1.7 miles (2.7 km) to the west, Regent’s Park is approximately 1.2 miles (1.9 km) to the south east.

The area benefits from excellent transport communications. Adjacent to the property is Kilburn High Road Overground station providing access to London Euston in 11 minutes. Kilburn Park Underground Station (Bakerloo Line) is approximately 500m to the south providing direct access to Central London, Oxford Circus, Paddington Overground Station and Piccadilly Circus.

travel times

Oxford Circus 13 minutes

Paddington mainline station

4 minutes

Piccadilly Circus 16 minutes

London euston mainline station

11 minutes

Kilburn High Road is served by a number of bus routes. The A5 (Kilburn High Road) links Kilburn with Central London to the south and north towards the M1 motorway.

Not to scale - for indentification purposes only

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regeneratIOnThe surrounding area is currently undergoing significant regeneration.south Kilburn regeneration

34A - 36 Kilburn High Road is located close to the South Kilburn regeneration area and will therefore benefit from an on-going investment programme due to complete in January 2023. The Masterplan includes the creation of 2,400 homes in addition to public amenities. Notable schemes that are 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.

argo Business Centre

This mixed use development comprising 93 residential flats in addition to 1,406 sq m of office space (B1) was granted full planning permission in May 2013 and is to be delivered by James Taylor Developments. It is located on Kilburn Park Road within walking distance of 34A-36 Kilburn High Road.

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DesCrIPtIOn34A – 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 building, 38 of which are designated as C1 aparthotel use arranged over the first to third floors and 12 of which are C3 residential, arranged on the fourth floor.

The serviced apartments benefit from permission to be subdivided into 73 self contained serviced suites. The 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.

The ground floor retail unit (A1) is let to Tesco for a term of 20 years from 23rd June 2006 at a rent of £145,700 per annum, following a recent rent review.

The basement unit (D2) is let to Fitness for Less, which is a subsidiary of Big Stack Ltd, for a term of 15 years from 21st September 2012 at a rent of £40,000 per annum.

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PLannIngThere 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.

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FLOOr PLanstypical Floor Plan (1-4)

Not to scale - for indentification purposes only

SPRINGFIELD LANE

KIL

BU

RN

HIG

H R

OA

D

SP

ING

FIE

LD

LA

NE

n

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aCCOmmODatIOn sCheDuLe

PrOPerty InFOrmatIOn rentaL InFOrmatIOn

Block unit/apartment no.

gross internal area of units (sq ft)

gross internal area of units (sq m)

gross internal area (sq ft)

gross internal area (sq m)

Floor Beds use Class

tenancy type

tenancy start

tenancy end

tenant rent received (p.a.)

rent review Break Clause

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 Apartments

1 398 37.0

7,922.00 735.98

First

1

C1 IRI 16/04/12 15/04/17So Quartier Limited

£1,080,000 Yearly on 16th April, indexed to a maximum of 2.5%

3 months notice prior to 17th April

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 1

8 506 47.0 1

9 484 45.0 1

10 484 45.0 1

11 479 44.5 1

12 721 67.0 2

13 684 63.5 2

14 398 37.0

Second

1

15 495 46.0 1

16 431 40.0 1

17 409 38.0 1

18 463 43.0 1

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

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PrOPerty InFOrmatIOn rentaL InFOrmatIOn

Block unit/apartment no.

gross internal area of units (sq ft)

gross internal area of units (sq m)

gross internal area (sq ft)

gross internal area (sq m)

Floor Beds use Class

tenancy type

tenancy start

tenancy end

tenant rent received (p.a.)

rent review Break Clause

Serviced Apartments

25 721 67.0

7,922.00 735.98

2

C1

IRI 16/04/12 15/04/17So Quartier Limited

£1,080,000Yearly on 16th April, indexed to a maximum of 2.5%

3 months notice prior to 17th April

26 684 63.5 2

27 398 37.0

7,223.00 671.04

Third

1

28 495 46.0 1

29 431 40.0 1

30 409 38.0 1

31 463 43.0 1

32 420 39.0 1

33 441 41.0 1

34 506 47.0 1

35 484 45.0 1

36 527 49.0 1

37 587 54.5 1

38 667 62.0 2

Residential Units

39 398 37.0

7,223.00 671.04

Fourth

1

C3

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

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 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.

tenureThe property is held freehold.

vatWe understand the property is elected for VAT.

methOD OF saLeThe properties are offered for sale by way of private treaty, as a single lot, and subject to the existing tenancies and leases.

vIewIngsViewings are strictly by appointment through the selling agents Savills & Colliers International.

FunDIngSPF Private Clients has relationships with a variety of debt sources that are eager to provide attractive financing packages for residential investments such as Kilburn High Road. SPF Private Clients has sourced indicative terms with senior debt up to 75% LTV available, subject to credit approval. To discuss further please contact a member of the team.

Further InFOrmatIOnA full set of background information is available on a secure website:

www.kilburnhighroadnw6.com

EPCs can be accessed here.

COntaCtsFor further information or to arrange viewing please contact the vendor’s selling agents Savills & Colliers International:

Savills UK

Darren Arnold darnold@savills.com 020 7409 9926

James Laverack jlaverack@savills.com 020 7016 3770

Davina Clowes dclowes@savills.com 020 7016 3838

Colliers International

Andrew White andrew.white@colliers.com 020 7344 6722

Elliot Dobie elliot.dobie@colliers.com 020 7344 6719

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