A
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
76
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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CROWNDALE ROAD PANCRAS ROAD
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STREETEVERSH
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DELANCEY STREET
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CHALK FARM ROAD
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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
15 MINSTO THE CITY
8 MINSTO THE
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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Approximate times - Source: Google Maps / Eurostar
H
41414
22222
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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252
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5354
55
Cre
sc ent E
state
J uniper Crescent
101-108 J uniper Crescent E s tate
93-1
00 J un
iper
79-84
J unip
er C
resce
nt E sta
te
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
Retail
Retail
Retail
Retail
Retail
Playground
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29-42
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Retail
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Chalk Farm R oad
J unip
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Swans Y
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Gilbeys Yard
Camde
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Commercial
Chalk Farm R oad
River
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Offices
Offices
Offices
Offices
Retail
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Retail
Retail
Retail
Retail
Retail
J unip
erCres
cent
Swans Yar
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lRetailet l
Retail
Retail
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.
1514
1
2
3
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
20 21
BLOCK A
BLOCK B
BLOCK F
PFS
BLOCK E2
BLOCK E1
BLOCK C
BLOCK D
AB
PFS
C
D
E1
E2
F
ROUN
D HOUSE W
AY
ENGIN
E HOUSE W
AY
GOODS YARD
CAMDEN YARD
INTERCHANGE YARD
RAILWAY PARK
WINDING VAULTS
WAY
MAKE
RS YA
RD
WIN
DING VA
ULTS W
AY
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.
ACCOMMODATION SCHEDULEPrivate Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix
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%
GIA Summary Sqm Sq ft
Private 7,833 84,314
Intermediate Rented 3,862 41,570
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
CGI - For illustrative purposes only
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.
Full floorplans available on the data room site.
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.
ACCOMMODATION SCHEDULEPrivate Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix
1 Bed Flat 32 18,213 569 39.0%
2 Bed Flat 50 43,809 876 61.0%
82 62,022 756 100.0%
GIA Summary Sqm Sq ft
Private 7,500 80,729
Residential Facilities 552 5,942
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
CGI - For illustrative purposes only
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%
GIA Summary Sqm Sq ft
Intermediate Rented 2,341 25,198
Affordable Rented 1,024 11,022
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
CGI - For illustrative purposes only
2928
1 BED 2 BED 3 PEOPLE 2 BED 4 PEOPLE 3 BED 4 BED 6 PEOPLE RETAIL RESIDENTIAL FACILITIES
CORE PLANT
Full floorplans available on the data room site.
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.
ACCOMMODATION SCHEDULEPrivate Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix
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%
GIA Summary Sqm Sq ft
Private 3,933 42,334
Residential Facilities 152 1,636
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
CGI - For illustrative purposes only
3130
STUDIO 1 BED 2 BED 3 PEOPLE 2 BED 4 PEOPLE RESIDENTIAL FACILITIES
CORE
Full floorplans available on the data room site.
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
ACCOMMODATION SCHEDULEPrivate Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix
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%
Affordable Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix
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%
GIA Summary Sqm Sq ft
Private 165 1,776
Intermediate Rented 554 5,963
Affordable Rented 1,917 20,634
2,636 28,374
GROUND
LEVEL 2
LEVEL 3KEY
CGI - For illustrative purposes only
3332
1 BED 2 BED 3 PEOPLE 2 BED 4 PEOPLE 3 BED 4 BED 6 PEOPLE CORE PLANT
Full floorplans available on the data room site.
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
ACCOMMODATION SCHEDULEPrivate Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix
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%
Affordable Rent Proposed units NSA (sq ft) Avg unit size (sq ft) Unit% of Mix
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%
GIA Summary Sqm Sq ft
Private 4,774 51,387
Affordable Rented 8,634 92,936
Office 639 6,878
Workshops 217 2,336
Retail 177 1,905
14,441 155,441
LEVEL 1
LEVEL 7LEVELS 5-6
GROUNDKEY
CGI - For illustrative purposes only
3534
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
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
CGI - For illustrative purposes only
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
Full floorplans available on the data room site.
GIA Summary Sqm 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
.
.
.
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
Declan Pope+44 (0)20 3296 4045
Martin Supple +44 (0)20 7152 5898
Oliver Christy+44 (0)20 7152 5035
Richard Howard +44 (0)20 7152 5497
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