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£3,650,000Retail property (high street) for sale
1 - 8 New College Parade, Finchley Road, Swiss Cottage, NW3 5EP
Under offer
Retail property (high street)
19940
Features and description
- Freehold
- Prominent retail parade situated in a prime position on the Finchley Road, in close proximity to Swiss Cottage and Finchley Road underground stations
- 19,940 sq ft (1,852.5 sq m) of retail and sold off residential accommodation arranged over basement, ground, 1st and 2nd floors
- The retail accommodation comprises 10,527 sq ft (977.9 sq m) spread across six units which are fully let to a strong tenant lineup featuring six retail / leisure occupiers
- Total passing rent of £252,253 per annum
- The overall WAULT across the retail accommodation is 6.78 years to expiries
- Potential to add massing subject to necessary consents. Brand new mixed-use scheme designed by Benchmark Architects
Description
8 New College Parade comprises a mixed use building arranged over basement, ground and two upper floors totalling 19,940 sq ft (1,852.5 sq m).
The commercial element comprises of six units providing 10,527 sq ft (977.9 sq m) of retail accommodation, arranged over ground and basement floors.
The residential accommodation comprises 16 flats totalling 9,413 sq ft arranged over 1st and 2nd floors. All flats have been sold off on long-leasehold interests; eight are sold off on 999 year terms, and seven are sold off on 189 year terms from 1978. One apartment has a lease expiring in December 2077.
Location
1-8 New College Parade is located within the London Borough of Camden and occupies a prominent position on the Finchley Road.
The wider area is mixed-use, largely comprising the affluent surrounding residential areas of Hampstead, Belsize Park and Swiss Cottage. The retail and leisure amenity offering across the Finchley Road includes the O2 Centre to the west, and occupiers such as Waitrose, Pret, Anytime Fitness, Pure Gym, and Boots within the immediate proximity.
The building directly next door to 1-8 New College Parade (9-12 New College Parade) is due to be redeveloped to deliver a boutique hotel. Plans involve replacing the existing building with a six-storey building, including 59 hotel rooms, three new residential apartments and approximately 2,150 sq ft of retail space.
8 New College Parade comprises a mixed use building arranged over basement, ground and two upper floors totalling 19,940 sq ft (1,852.5 sq m).
The commercial element comprises of six units providing 10,527 sq ft (977.9 sq m) of retail accommodation, arranged over ground and basement floors.
The residential accommodation comprises 16 flats totalling 9,413 sq ft arranged over 1st and 2nd floors. All flats have been sold off on long-leasehold interests; eight are sold off on 999 year terms, and seven are sold off on 189 year terms from 1978. One apartment has a lease expiring in December 2077.
Location
1-8 New College Parade is located within the London Borough of Camden and occupies a prominent position on the Finchley Road.
The wider area is mixed-use, largely comprising the affluent surrounding residential areas of Hampstead, Belsize Park and Swiss Cottage. The retail and leisure amenity offering across the Finchley Road includes the O2 Centre to the west, and occupiers such as Waitrose, Pret, Anytime Fitness, Pure Gym, and Boots within the immediate proximity.
The building directly next door to 1-8 New College Parade (9-12 New College Parade) is due to be redeveloped to deliver a boutique hotel. Plans involve replacing the existing building with a six-storey building, including 59 hotel rooms, three new residential apartments and approximately 2,150 sq ft of retail space.
Area statistics
Crime score
High crime
10/10
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