camden quarter brochure 20thapril v1 no throw out pages · new camden quarter ... the nineteenth...

THE LOCATION 08

THE SITE 14

THE SCHEME 18

BLOCK A 22

BLOCK B 24

BLOCK C 26

BLOCK D 28

BLOCK E1 30

BLOCK E2 32

BLOCK F 34

PFS SITE 36

MARKET COMMENTARY 38

FURTHER INFORMATION 42

32

New Camden Quarter New Camden Quarter represents a new landmark mixed use

development opportunity located between vibrant Camden

and affluent Primrose Hill

A unique central London opportunity to provide a truly mixed

use scheme incorporating residential, office and retail including

the re-delivery of a new Morrisons store

Camden’s bustling town centre situated a stone’s throw to

the south of the site providing extensive amenity and key

transport connections

A resolution to grant planning consent for the redevelopment of

the 8 acre site has been obtained to deliver 573 apartments

alongside substantial office and retail including provision

of a new Morrisons store and petrol filling station (Camden

planning ref. 2017/3847/P)

The supply of quality new build residential in the locality is

limited, providing an exciting opportunity for a purchaser to

develop a new product for the market. In addition, the demand

for office space is flourishing with a number of recent high

profile occupiers entering the Camden market.

CAMDEN MARKET

THE CANAL

LONDON ZOO

PRIMROSE HILL

CAMDEN TOWN

ST PANCRAS INTERNATIONAL

THE CITY

CANARY WHARFTHE SHARD

EUSTON STATION

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THE LOCATIONTHE NEW QUARTER WILL BE NESTLED BETWEEN CAMDEN

MOST EXCITING CREATIVE HUBS AND AFFLUENT PRIMROSE HILL KNOWN FOR ITS PANORAMIC

VIEWS OF THE LONDON SKYLINE

9

THE LOCATIONNew Camden Quarter will become a new destination responding to Camden Town’s renowned alternative creativity and Primrose Hill’s quaint village feel. This new destination will no doubt add to the continued desirability of this well-connected pocket of North London steeped in history.

CAMDEN MARKET Amongst the world’s most famous markets, it attracts nearly 30 million visitors a year, making it one of London’s top tourist attractions. The market exemplifies Camden’s unique retail offering focusing on the independent and the unique, and a thriving counterpoint to the flagship stores of Oxford Street and Regent Street just 8 minutes away on the Underground.

ATTRACTS RESIDENTS, BUSINESSES AND STUDENTS

ALIKE. THE STRONG TRANSPORT CONNECTIONS PROVIDE EASE

OF ACCESS ACROSS THE CAPITAL ADDING TO ITS APPEAL.

Formerly the main artery supplying London with goods from England’s industrial north, the Regent’s Canal is no longer a means to get from A to B but a destination in its own right. The towpath now hums with dog-walkers, joggers and cyclists travelling from upmarket Primrose Hill, Regent’s Park to the west and buzzing Islington to the east. Camden Lock Market is a popular stopping point being one of the world’s most famous markets with a plethora of artisan goods and memorabilia.

Rail has formed an important part in the history of Camden. The iconic Roundhouse began life in 1847 as a railway turntable. The establishment of Euston, King’s Cross and St Pancras stations drove a new wave of development in the nineteenth century, and their recent modernisation has sparked one of Europe’s largest regeneration schemes. The stations provide easy transport around London and connect Camden to vast swathes of the country and even Europe via the Eurostar.

Considered a major creative media and advertising hub within London, Camden is one of the key points of the Soho – Clerkenwell media triangle. Google’s recent commitment to base its London headquarters in King’s Cross, its first wholly owned and designed building outside the US, is the largest and latest in a multitude of businesses primarily in the media, cultural and creative sectors attracted by the areas unique atmosphere.

Camden’s strong transport links to London’s world class colleges and universities has led to approximately 30,000 full time students living in the Borough.

THE ROUNDHOUSEThe iconic Roundhouse venue has hosted luminaries such as David Bowie, Pink Floyd, Jimi Hendrix, Bob Dylan and Led Zeppelin, but began life in 1847 as a railway turntable.

Camden Town

LOCAL OCCUPIERSRESTAURANTS

Mildreds CamdenThe Blues KitchenPorkys BBQQ Grill Poppies Fish & Chips BintangSushi WakaNamaasté Kitchen

BARS

Brewdog Camden Assembly Joe’s Bar Lockside LoungeFity-five Proud Camden

MUSIC

The RoundhouseDingwallsThe Dublin CastleThe Jazz CaféElectric BallroomGreen Note

ATTRACTIONS

Primrose HillStables Market The CanalZSL London ZooCamden Beach

Deriving it’s name from the flower that covered it, Primrose Hill was once used as a Royal hunting ground. In the mid-19th Century the surrounding areas began to be developed and soon blossomed to the area as we know it today characterised by Victorian villas and terraces along the quaint streets.

This Grade I listed park covers an expanse of 410 acres and plays host to gardens, a boating area, sports pitches and children’s playgrounds. To the north is Primrose Hill offering fantastic views of Central London to the South East.

Primrose Hill

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MORNINGTON CRESCENT

CAMDEN TOWN

KING'S CROSS ST. PANCRAS

ST. PANCRAS INTERNATIONAL

KING'SCROSS

CHALK FARM

CAMDEN ROAD

EUSTON

London Zoo

Regent’s park

Primrose Hill

OLDEST

SCIENTIFIC ZOO

STUNNING VIEWS OF LONDON

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WEST END

CIRCA

2HRSTO PARIS OR BRUSSELLS

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LOCAL OCCUPIERSRESTAURANTS

Mildreds CamdenThe Blues KitchenPorkys BBQQ Grill Poppies Fish & Chips BintangSushi WakaNamaasté Kitchen

BARS

Brewdog Camden Assembly Joe’s Bar Lockside LoungeFity-five Proud Camden

MUSIC

The RoundhouseDingwallsThe Dublin CastleThe Jazz CaféElectric BallroomGreen Note

ATTRACTIONS

Primrose HillStables Market The CanalZSL London ZooCamden Beach

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Camden Market

THE SITENEW CAMDEN QUARTER

SITS CENTRE STAGE WITHIN VIBRANT AND

DYNAMIC CAMDEN

THE SITEThe New Camden Quarter site extends to approximately 3.2 Hectares (circa. 8 Acres) and is bounded to the east and west by railway lines. The south of the site is bounded by Oval Road, Gilbeys Yard and Camden Lock. Camden Market is located to the east running under the railway track at the south eastern corner of the site.

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sc ent E

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J uniper Crescent

101-108 J uniper Crescent E s tate

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resce

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64-68 J uniper Crescent E state

45-53 J uniper Crescent E state

Crescent E s tate

34-44 J unipercent Estate

Crescent E state

54-64 J uniper

Retail

Retail

Retail

Retail

Playground

Railway

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Playground

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River

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There are three main parts to the site:

1. The main Morrisons site, accessed from Chalk Farm Road via Juniper Crescent

2. The Morrisons Petrol Filling Station site which is located on an island site, accessed from Chalk Farm Road (separate to the main site)

3. The leasehold element which forms the south eastern tip of the main Morrisons site. There is a pedestrian access route to Camden Market from this section of the car park via a staircase.

The existing Morrisons supermarket extends to approximately 77,500 sq ft. with large areas of hard standing providing customer car parking to the east. The retail unit is serviced via a small access road that runs along the site’s western edge, alongside the railway line. There is also a bus stop to the north and various access points and rights of way across the site.

Further information related to title can be found in the data room.

TENURENew Camden Quarter consists of two freehold titles:The main site is held under Freehold title number NGL703708 and the petrol filling station site is held under Freehold title number NGL755432.

Parts of the Freehold title are subject to a lease of underground tunnels. The lease is held under NGL861194

The main site also benefits from a long leasehold interest in the south east corner of the site (part of the current Morrisons surface car park), which lies above Camden Market. The lease length is 999 years (from 17 February 2006) over this section, with the freehold being owned by Triangle Extension’s Limited. The lease is held under title number NGL861438.

The data room contains a comprehensive title review including details of electricity sub-stations, access rights/agreements, restrictions and services.

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THE SCHEMETHE NEW DEVELOPMENT

COMBINED WITH THE MORRISONS STORE WILL

PROVIDE AROUND 1,300 JOBS WHILST ALSO DELIVERING 573 RESIDENTIAL UNITS.

1919

Private Proposed Units Total NSA (sq ft) Average unit size (sq ft) Unit % of Mix

Studio Flat 62 27,104 437 16.2%

1 Bed Flat 139 78,183 562 36.4%

2 Bed Flat 142 116,524 821 37.2%

3 Bed Flat 38 38,212 1,006 9.9%

3 Bed Maisonette 1 1,324 1,324 0.3%

382 261,347 684 100%

Intermediate Rented Proposed Units Total NSA (sq ft) Average unit size (sq ft) Unit % of Mix

1 Bed Flat 43 23,939 557 53.1%

2 Bed Flat 28 21,808 779 34.6%

2 Bed Maisonette 10 9,957 996 12.3%

81 55,704 688 100%

Affordable Rented Proposed Units Total NSA (sq ft) Average unit size (sq ft) Unit % of Mix

1 Bed Flat 27 14,908 552 24.5%

2 Bed Flat 22 17,330 788 20.0%

2 Bed Maisonette 9 8,353 883 8.2%

3 Bed Flat 25 24,692 926 22.7%

3 Bed Maisonette 19 22,121 1,001 17.3%

4 Bed Flat/House 8 10,613 1,066 7.3%

110 98,017 891 100%

Total Proposed Units Total NSA (sq ft) Average unit size (sq ft) Unit % of Mix

Studio 62 27,104 437 10.8%

1 Bed Flat 209 117,030 560 36.5%

2 Bed Flat 192 155,662 811 33.5%

2 Bed Maisonette 19 18,310 964 3.3%

3 Bed Flat 63 62,904 998 11.0%

3 Bed Maisonette 20 23,445 1,172 3.5%

4 Bed Flat/House 8 10,613 1,327 1.4%

573 415,068 724 100%

GIA Summary (Main site) Total (sqm) Total (sq ft)

Private Residential 32,908 354,218

Intermediate Rented 6,757 72,732

Affordable Rented 11,575 124,592

Residential Facilities 778 8,374

Office 4,523 48,685

Workshops 667 7,180

Affordable Workspace 1 565 6,082

Morrisons (incl. Parking, Service areas and Ancillary) 19,352 208,303

Retail 672 7,233

Urban Farm 1,047 11,270

78,844 848,669

GIA Summary (PFS site) Total (sqm) Total (sq ft)

Office 6,873 73,980

Morrisons PFS Kiosk 360 3,875

Retail 1,086 11,690

Other 723 7,782

9,042 97,327

Total GIA 87,886 945,996

S106 & CIL Contributions

Total S106 contributions £7,360,025

Reduced S106 contributions if the various targets within the S106 are achieved

£4,102,469

S106 costs per unit (Total/Reduced) £12,845 / £7,160

Estimated Community Infrastructure Levy (Mayoral & Borough)

£11,600,000

Trigger Development Stage Time from planning consent

1 Completion of Ground Floor Slab of the temporary store

2 years 6 months

2 Occupation of the temporary store

3 years 3 months

3 Implementation of the main site

3 years 6 months

Morrisons’ heritage as food makers and shopkeepers continues today and the new store’s reworked version of Market Street will showcase craft skills so customers can watch the team of trained butchers, bakers and fishmongers at work. A new Morrisons supermarket will retain existing employment whilst also providing an exceptional source of amenity on site.

The new development combined with the Morrisons store will provide around 1,300 jobs through further creation of approximately 32,500 sqm of commercial space; ranging from small affordable workspaces and retail units; light industrial workshops for makers; large office floor plates that can be occupied by one tenant or subdivided for multiple occupancy.

To the south the scheme will have a more residential feel where ground floor spaces will be lined with individual front doors to family sized duplexes and townhouses. Commercial activity is focused along the primary routes and to the north, closer to the town centre. An enhanced quality of public space will be delivered by five new public spaces including one park to the northeast railway boundary, making the most of existing trees to create a green space, for residents, workers and visitors to enjoy and relax in. In contrast the civic square in front of the store; the neighbourhood square to the southeast reminiscent of a typical London square; a new space in front of the Interchange Warehouse will improve this listed building’s setting. Facilities will include play equipment for all ages, community gardens and allotments for growing. All have been designed to be overlooked and uses carefully considered to create a sense of ownership and safe guard the spaces for all users.

The petrol filling site on Chalk Farm Road will be redeveloped to provide office accommodation over a petrol filling station. To maintain trade the Morrisons will be moved to a temporary store located in the new building above the petrol filling station site meaning the petrol filling station will be closed during the construction of the new store on the main site.

As part of the S106 Agreement, any purchaser would be required to comply with the following timeframes in order to avoid initiating a S106 viability review.

THE SCHEMEThe site has received a resolution to grant planning consent to deliver a scheme of 573 homes which will range in size from studios to four bedroom town houses. There will be a variety of rent and ownership options and 37% of the homes will be affordable, by floor area. Homes will include apartments, duplexes and family sized townhouses. The variety of building scales and housing typologies have been designed to encourage a mixed community and promote a diverse population with a variety of daily routines to activate new streets and spaces, all creating a strong sense of neighbourhood.

Full details available on the data room site.

Full details available on the data room site. All planning documents are available on the data room site.

Full schedule of accommodation available on the data room site.Note: The above areas assume 37% affordable housing by floor area on the assumption of GLA grant funding being available.

In the event grant funding is not available, the scheme will revert to the original consent of 35% affordable housing by floor area.1 The S106 allows for an increase of the affordable workspace area to 945 sqm / 10,172 sq ft through the insertion of mezzanines, subject to feasibility.18

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BLOCK A

BLOCK B

BLOCK F

PFS

BLOCK E2

BLOCK E1

BLOCK C

BLOCK D

AB

PFS

C

D

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E2

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ROUN

D HOUSE W

AY

ENGIN

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GOODS YARD

CAMDEN YARD

INTERCHANGE YARD

RAILWAY PARK

WINDING VAULTS

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MAKE

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SOUTHAMPTON SQUARE

TYPICAL FLOOR

GROUND

LEVEL 1

NEW CAMDEN QUARTER

BLOCK ASUMMARY ARCHITECT: PIERCY AND COMPANY ARCHITECTSNUMBER OF UNITS: 107STOREYS: 14USE CLASSES: A1 / A3, B1, C3

COMMENTARY Situated on the north western corner of the site, Block A is the tallest building in the masterplan. It represents a gateway into the development for pedestrians and cyclists, and acts as a landmark for this new urban quarter.

Block A consists of two residential towers rising above B1 office space at first floor and a mix of uses at ground floor.

The massing of the block has been informed by relationships with key Camden views, particularly with reference to the Grade II* listed Roundhouse, and the creation of new vistas within the masterplan. The façade has been designed to achieve a tactile, well detailed interface at ground floor level with a material palette of brick, concrete and metal. This has drawn inspiration from the industrial and infrastructural typology of Camden, as seen in local landmarks such as the Roundhouse and the Great Wall of Camden.

ACCOMMODATION SCHEDULEPrivate Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix

Studio 28 12,357 441 26.2%

1 Bed Flat 42 23,425 558 39.3%

2 Bed Flat 24 20,021 834 22.4%

3 Bed Flat 13 13,369 1,028 12.1%

107 69,172 646 100.0%

GIA Summary Sqm Sq ft

Private 8,703 93,678

Office 1,135 12,217

Workshops 145 1,561

Retail 177 1,905

10,160 109,361

AB C

D

E1

E2

F

KEY

CGI - For illustrative purposes only

2322

STUDIO 1 BED 2 BED 3 PEOPLE 2 BED 4 PEOPLE 3 BED 4 BED 6 PEOPLE OFFICE WORKSHOPS RETAIL CORE PLANT

Full floorplans available on the data room site.

NEW CAMDEN QUARTER

BLOCK BSUMMARY ARCHITECT: ALLIES & MORRISONNUMBER OF UNITS: 128STOREYS: 8USE CLASSES: A1, B1, C3, SUI GENERIS

COMMENTARY Block B sits in the heart of the scheme, facing onto two new public spaces at the northwest corner of the site and entrance to the new neighbourhood from Chalk Farm Road. The most prominent building on the site, the arches around its base tie the development into the adjacent railway, providing a strong visual language for the change in levels across the site and a unique facade to the new supermarket at lower ground floor.

The arches also form the bottom tier of a tripartite opening arrangement reflecting the use classes of each level, with arches for the supermarket, larger picture windows for the workspaces on the two floors above and domestic sized openings for the residential across the higher floors.

The buildings important central location means that it has two primary elevations forming an introduction to the site. The building is also topped by storey high lettering, a nod to Camden Lock Bridge, announcing the new neighbourhood – “CAMDEN GOODS YARD”. Behind this site a series of greenhouses designed to accommodate the urban farm.


Studio 12 5,242 437 14.0%

1 Bed Flat 31 17,308 558 36.0%

2 Bed Flat 25 19,397 776 29.1%

3 Bed Flat 18 18,223 1,012 20.9%

86 60,170 700 100.0%

Intermediate Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix

1 Bed Flat 16 8,665 542 38.1%

2 Bed Flat 20 15,909 795 47.6%

2 Bed Maisonette 6 6,071 1,012 14.3%

42 30,645 730 100.0%


Private 7,833 84,314


Office 2,749 29,590

Affordable Worskspace 1 100 1,076

Retail 47 506

Morrisons Store 5,430 58,448

Morrisons Car Parking 10,935 117,703

Morrison Back of House & Plant 2,987 32,152

33,943 365,359

AB C

D

E1

E2

F

GROUND

LEVEL 7

KEY


2524

LEVEL 1

STUDIO 1 BED 2 BED 3 PEOPLE 2 BED 4 PEOPLE 3 BED 4 BED 6 PEOPLE OFFICE MORRISONS RETAIL ANCILLARY MORRISONS

URBAN FARM CORE PLANT

1 The S106 allows for an increase of the affordable workspace area to 276 sqm / 2,971 sq ft through the insertion of mezzanines, subject to feasibility.


TYPICAL FLOOR

NEW CAMDEN QUARTER

BLOCK C

COMMENTARY Block C’s irregular shape is informed by historical precedent and sculpted by the primary routes through the site and interaction between the public spaces. The building’s façade twists to invite pedestrians into and between the public spaces.

The volume of the building is split into two with a void in the middle. This delivers more double aspect residential units and allows the two parts to have different heights to reflect their individual situations.

The building is primarily residential, with a resident’s gym at ground and lower ground level. Small retail units and workspaces are also incorporated at ground floor level.


1 Bed Flat 32 18,213 569 39.0%

2 Bed Flat 50 43,809 876 61.0%

82 62,022 756 100.0%


Private 7,500 80,729


Workshops 305 3,283

Affordable Workspaces 1 465 5,005

8,822 94,959

AB C

D

E1

E2

FSUMMARY ARCHITECT: ALLIES & MORRISONNUMBER OF UNITS: 82STOREYS: 10USE CLASSES: A1, B1, C3

LEVEL 8

GROUND

LEVELS 1-7

KEY


2726

1 BED 2 BED 3 PEOPLE 2 BED 4 PEOPLE 3 BED 4 BED 6 PEOPLE WORKSHOPS RETAIL RESIDENTIAL FACILITIES

CORE PLANT

Full floorplans available on the data room site.1 The S106 allows for an increase of the affordable workspace area to 669 sqm / 7,201 sq ft through the insertion of mezzanines, subject to feasibility.

NEW CAMDEN QUARTER

BLOCK D

COMMENTARY Building D forms part of the residential backbone to the southern aspect of the site, and mediates between the building heights of the masterplan and the adjacent Gilbey’s Yard.

The overall composition of the block is three stories of deck access flats atop a “plinth” of family sized maisonettes. These maisonettes have a back garden, connecting onto a communal garden. The facades are a mix of pale terracotta inset panels, Reddish and buff brick to act as a mediator between Block B and the reddish tone of the Interchange building.

A retail unit and community centre sit at ground floor in the east and west “wings” of the building respectively.

ACCOMMODATION SCHEDULEIntermediate Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix

1 Bed Flat 25 14,176 567 75.8%

2 Bed Flat 8 5,899 737 24.2%

33 20,075 608 100.0%

Affordable Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix

3 Bed Maisonette 9 10,280 1,142 100.0%

9 10,280 1,142 100.0%




Residential Facilities 74 797

Retail 118 1,270

3,557 38,287

SUMMARY ARCHITECT: ALLIES & MORRISONNUMBER OF UNITS: 42STOREYS: 5USE CLASSES: A3, C3

AB C

D

E1

E2

F

LEVELS 2-4

LEVEL 1

GROUND

KEY


2928

1 BED 2 BED 3 PEOPLE 2 BED 4 PEOPLE 3 BED 4 BED 6 PEOPLE RETAIL RESIDENTIAL FACILITIES

CORE PLANT


NEW CAMDEN QUARTER

BLOCK E1

COMMENTARY Located at the south east boundary of the site, block E1 is the second tallest building in the development. The Block is entirely private residential, with a concierge space at ground floor which will serve the entire development.

The façade and design is influenced by the art deco and white modernist buildings in Camden and further afield, intentionally contrasting with the deep reveals and tectonic reveals of Block A’s elevations. The building is clad in white hit and miss brickwork, with key detailing drawing on the local built context, such as the glazed bullnose bricks which reference the nearby Grade II listed Interchange building.


Studio 10 4,542 454 20.0%

1 Bed Flat 24 13,715 571 48.0%

2 Bed Flat 16 12,749 797 32.0%

50 31,006 620 100.0%


Private 3,933 42,334


4,085 43,971

SUMMARY ARCHITECT: PIERCY & COMPANY ARCHITECTSNUMBER OF UNITS: 50STOREYS: 11USE CLASSES: C3

AB C

D

E1

E2

F

LEVELS 5 - 10

LEVELS 1 - 4GROUND

KEY


3130

STUDIO 1 BED 2 BED 3 PEOPLE 2 BED 4 PEOPLE RESIDENTIAL FACILITIES

CORE


NEW CAMDEN QUARTER

BLOCK E2

COMMENTARY Block E2 consists of a mix of three storey townhouses and five storey stacked maisonettes, with a floor of flats in between. The building completes the residential backbone to the south of the site, and signals a shift in scale to accommodate the adjacent Gilbey’s Yard.

The design aims to create a regular, ordered street with front gardens and entrances at regular intervals. The units have access to a shared communal garden to the rear of the block. The façade consists of two shades of buff brick, paler on the townhouses and graduating to a darker and more saturated colour on the stacked maisonettes. Timber cladding and an expressed brick frame at ground and first floor is employed to bring a domestic scale to the entrance of each home.

SUMMARY ARCHITECT: ALLIES & MORRISONNUMBER OF UNITS: 23STOREYS: 5USE CLASSES: C3

AB C

D

E1

E2

F


3 Bed Maisonette 1 1,324 1,324 100.0%

1 1,324 1,324 100.0%

Intermediate Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix

1 Bed Flat 2 1,098 549 33.3%

2 Bed Maisonette 4 3,886 972 66.7%

6 4,984 831 100.0%


1 Bed Flat 4 2,196 549 25.0%

2 Bed Maisonette 2 1,894 947 12.5%

3 Bed Maisonette 5 6,039 1,208 31.3%

4 Bed House 5 7,158 1,432 31.3%

16 17,287 1,080 100.0%


Private 165 1,776

Intermediate Rented 554 5,963


2,636 28,374

GROUND

LEVEL 2

LEVEL 3KEY


3332

1 BED 2 BED 3 PEOPLE 2 BED 4 PEOPLE 3 BED 4 BED 6 PEOPLE CORE PLANT


NEW CAMDEN QUARTER

BLOCK F

COMMENTARY Block F is a predominantly residential building with smaller workspaces at ground floor. Although similar in scale to Block B, the block is an ensemble of buildings that responds to the differing spatial hierarchies and typologies of the neighbouring buildings, tying the masterplan together. To achieve this each elevation has a different appearance to mirror the adjacent building, with prominent projecting corners stepping up to the taller Blocks A and E1.

The series of buildings are tied together by a shared language of the use of brick, warehouse proportions in the detailing and the inclusion of ironmongery.

SUMMARY ARCHITECT: ALLIES & MORRISONNUMBER OF UNITS: 141STOREYS: 10USE CLASSES: A1, B1, C3

AB C

D

E1

E2

F


Studio 12 4,963 414 21.4%

1 Bed Flat 10 5,522 552 17.9%

2 Bed Flat 27 20,548 761 48.2%

3 Bed Flat 7 6,620 946 12.5%

56 37,653 672 100.0%


1 Bed Flat 23 12,712 553 27.1%

2 Bed Flat 22 17,330 788 25.9%

2 Bed Maisonette 7 6,549 936 8.2%

3 bed Flat 25 24,692 988 29.4%

3 Bed Maisonette 5 5,802 1,160 5.9%

4 Bed House 3 3,455 1,152 3.5%

85 70,540 830 100.0%


Private 4,774 51,387


Office 639 6,878

Workshops 217 2,336

Retail 177 1,905

14,441 155,441

LEVEL 1

LEVEL 7LEVELS 5-6

GROUNDKEY


3534

STUDIO 1 BED 2 BED 3 PEOPLE 2 BED 4 PEOPLE 3 BED 4 BED 6 PEOPLE OFFICE WORKSHOPS RETAIL CORE PLANT


NEW CAMDEN QUARTER

PFS Site

COMMENTARY Once redeveloped the PFS site will continue to provide a petrol filling station, alongside a diversified retail offering, cafes, restaurants and approximately 6,700 sqm of office workspace. The site will also play an important part of the phasing of the development, as it will temporarily accommodate the food store during the first phase.

The building’s design continues the massing of the Great Wall of Camden whilst providing a more active frontage than currently exists through the provision of new shop fronts. Floors one to five provide large and flexible office floorplates, with the fifth floor set back.

The massing of the building is articulated by breaking it down into its constituent parts. The base of the block is formed of heavy brick piers, expressing the plinth and transfer structure required to provide a 5.5m roof height for the petrol filling station. Above this the office space is formed out of two volumes of lightweight timber construction, given a golden hue by the solar shading fins and blinds. From the 4th floor of the corner building there is a winter garden allowing the vegetation to be seen from the street, creating a striking entrance marker to this new quarter.

SUMMARY ARCHITECT: NIALL MCLAUGHLIN ARCHITECTSNUMBER OF UNITS: -STOREYS: 6USE CLASSES: A1 / A3, B1

AB

PFS

C

D

E1

E2

F

ACCOMMODATION SCHEDULE

TEMPORARY PLANS

FINAL PLAN


3736

GROUND FLOOR

GROUND FLOOR

FIRST FLOOR

TYPICAL FLOOR

KEY

Floors 2 to 5 will be as per the final plans

OFFICE MORRISONS RETAIL ANCILLARY MORRISONS

CORE PLANT



Office 6,873 73,980

Morrisons PFS Kiosk 360 3,875

Retail 1,086 11,690

Other 723 7,782

9,042 97,327

.

.

.

Tena

nt E

lec.

R

iser

PETROL STATION

CAR PARK

LONDONLatest forecasts show London’s population is set to increase significantly in the coming years, becoming Europe’s first true ‘megacity’ with a population of over 10m in around 10-12 years. This growth will be under-pinned by a huge increase in the Capitals working age population, with the number of those aged 15-65 set to increase by just under 9% by 2027. When comparing these figures with other popular European and North American investment locations (see below graph), the scale of this increase becomes clear.

10 YEAR WORKING AGE POPULATION FORECAST

LONDON BOROUGH OF CAMDENIn the previous decade Camden has established itself as one of the hottest residential markets in the capital, with rates of house price inflation outstripping most other Boroughs. Since the market downturn of 2007/2008, house prices in Camden have risen 79% beyond their previous peak in late 2007. This is indicated in the below graph, where a clear outperformance over both the inner and outer London averages is evident.

CAMDEN TOWN (NW1)When going into a little more detail and analysing the postcode central to Camden Town itself (NW1), we can see that after a strong H1, and a steady H2, prices finished 2017 in-line with the Borough average at 3.5%. Rental values in NW1 took a slight fall during the year, falling -1.7%, some way below the 10 year long-run average of +2.3% per annum.

The aforementioned rapid population growth, along with on-going strong investor demand in London, will go a large way to maintaining the current high levels of demand, underpinning future rates of house price inflation. As below left, a large degree of this demand looks set to be focused on the Borough of Camden, with house values forecast to grow by over 53% by 2027 and the price of the average home set to exceed £1m by 2021.

London

San Fransisco

Los Angeles

New York

-4.0% -2.0% 0.0% 2.0%

-2.6%

1.7%

2.3%

4.9%

8.7%

4.0% 6.0% 8.0% 10.0%

Paris

Source: ONS/US Census Bureau/Eurostat/Oxford Economics

Source: Cushman & Wakefield Research

Camden(Borough)

InnerLondon

OuterLondon

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

CAPITAL VALUES FROM PREVIOUS (2007) PEAK

Source: Oxford Economics

10 YEAR HOUSE PRICE FORECASTS

Source: UK HPI

Camden(Borough)

InnerLondon

OuterLondon

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

£1,115

Camden (NW1) Capital Values - LHS

£1,135

£1,155

£1,175

£1,195

£1,215

£1,235

£1,255

£1,275

£510

£515

£520

£525

£530

£535

Jan

17

Feb 1

7

Mar 1

7

Apr 1

7

May

17

Jun

17

Jul 1

7

Aug

17

Sep 1

7

Oct

17

Nov

17

Dec

17

Camden (NW1) Weekly Rents - RHS

MARKET COMMENTARYRESIDENTIAL

3938

4140

LONDON OFFICE DEMANDThe London office market had another strong year in 2017, with total annual volumes reaching 11.7 million sq ft, 10% ahead of the 5-year annual average. This trend that looks set to continue in 2018. There are three key reasons for this – constrained supply, significant take-up activity by flexible workplace providers leading to a further curtailment of that supply, and better trading conditions for most occupiers meaning a more proactive decision making process. Supply will remain constrained given that a significant proportion of the forthcoming pipeline is either already let or under offer. C&W estimate that half of all space under construction is currently prelet, and the graph below shows how quickly supply constraint came about.

It would be logical to assume that the downturn in supply may have come about because the pipeline of forthcoming schemes dried up, but the graph below demonstrates that the fall in supply was not simply led by subdued development activity – had that been the case there would not have been the quarter on quarter activity shown, taking 2017 to well above the five-year average.

2012

14.0

12.0

10.0

Sq ft

(mill

ions

)

8.0

7.0

6.0

5.0

4.02013 2014 2015 2016 2017

Q1

Q3

Q2 5-year average

Q4

Occupiers have also been far less geographically constrained in recent years. The diagram below shows just how footloose high quality occupiers have become, preferring to acquire the right building for their brand, and to attract and retain the talent they need to flourish.

This linking of Camden to the West End will be further enhanced by redevelopment of Euston Station – with a new mixed use scheme arriving above the rails immediately behind the existing station.

CENTRAL LONDON LEASING VOLUMES BY QUARTER 2013-2017

OCCUPIER ACTIVITY MIRRORS OUTWARD PUSH

16.0

14.0

12.0

10.0

8.0

6.0

4.0

2.0

0.0

West End

Central London

City

East London

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

VACANCY RATES

MARKET COMMENTARYCOMMERCIAL

CHISWICK SPITALFIELDS

CAMDEN

BATTERSEA

This very significant new development, together with King’s Cross, the Crick Institute and Regent’s Place will have an immensely important positive impact on Camden as an office location.

What is also shown in the graph below is that a great deal of this activity has taken place in and around King’s Cross. This is of significant benefit to Camden – King’s Cross has linked Camden to the West End, with occupiers seeing Camden as being far more inherently linked to the Central London narrative than before.

42

Jack Simmons +44 (0)20 3296 4991

[email protected]

Declan Pope+44 (0)20 3296 4045

[email protected]

Martin Supple +44 (0)20 7152 5898

[email protected]

Oliver Christy+44 (0)20 7152 5035

[email protected]

Richard Howard +44 (0)20 7152 5497

[email protected]

Cushman & Wakefield Debenham Tie Leung Limited give notice to anyone who may read these particulars as follows: 1.These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4 The photographs appearing in this brochure show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 7. Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact. April 2018

Brochure designed and produced by SAENTYS +44 (0)20 7407 8717 | [email protected] | www.saentys.com

DATA ROOMPlease visit the data room site for key legal, planning and technical documentation.

WWW.NEWCAMDENQUARTER.COM

PROPOSALSOn behalf of Morrisons, offers are sought for the Freehold interest in titles NGL755432 and NGL703708 alongside the long leasehold interest in title NGL861438. The sale will initially be subject to a development lease of the entirety with the transfer of the Freehold/Long leasehold interests on Morrisons’ occupation of the new store and associated areas.

The Morrisons areas will be re-provided and be subject to a 999 year lease at a peppercorn rent.

RESIDENTIAL RETAIL OFFICES

FURTHER INFORMATION

CONTACTPlease contact a member of the Cushman & Wakefield team for further information:

The PFS site is required to form the first phase of the development and on construction completion the first floor will be used as a temporary Morrisons store until the new store within Block B has been completed. Both the new and temporary stores will be reprovided to Morrisons at shell and core.

WWW.NEWCAMDENQUARTER.COM

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