DELTA COURT & ADJACENT LAND COLES GREEN ROAD, LONDON NW2 7HB

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1 & ADJACENT LAND COLES GREEN ROAD, LONDON NW2 7HB FREEHOLD INTEREST FOR SALE

2 INVESTMENT SUMMARY Substantial freehold apartment block with associated garages and adjacent vacant site. u An unbroken freehold apartment block configured to provide 38 apartments (2 x studios, 34 x 2 beds and 2 x 3 bed) extending to 2,9 sq m / 22,804 sq ft (GIA excluding common parts) u 6 garages situated to the rear (four let on short licenses, 2 vacant) and 20 additional surface car parking spaces u Vacant B/light industrial building on adjacent site DESCRIPTION Delta Court was constructed in the 950s, with two additional floors added in 2005 (PP/05/992). The property comprises 38 residential apartments extending to 2,9 sq m (22,804 sq ft) arranged over ground and five upper floors. The building has two cores, each core providing access to the upper floors via a passenger lift and staircase. The two cores are interlinked internally via a corridor on the fourth floor. Internally, the flats are in good letting condition, with the exception of the regulated tenancy flats which require modernisation. S TR EAKES FIEL D R OAD Magic House 4 50 To the rear of the property are 6 garages arranged along the west boundary of the site, extending to 26 sq m (2,807 sq ft). Immediately to the north is an adjoining plot of land occupied by a empty B/light industrial building extending to 550 sq m (5,920 sq ft). The subject property is held on two titles with the entire site extending to 0.85 acres ( hectares) Works 6 a to x G to G8 6 u Located in Cricklewood, within the London Borough of Brent close to the Brent Cross Cricklewood Regeneration 58.m KE LCEDA CLOSE 2 5h 5f u Current passing rent 432,820 per annum (occupied by 30 ASTs, seven regulated tenants and four garage licenses; one recently refurbished flat and 2 garages are vacant) u ERV when fully let approximately 500,000 per annum 58.3m T ank 48 Delta Court to 38 COLES GR EE N R OAD m 9 EYH URS T CLOSE u Significant scope for further residential development and asset management initiatives WATE RLOO ROAD 45 4 Oxgate F arm 3 u Combined site area of 0.85 acres ( hectares) Oxgate Farm NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. Crown copyright licence number Savills (UK) Ltd.NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed. 0 Units (sq m/sq ft) Total Site Passing Rent (pa) 38 apartments, adjacent vacant building & 6 garages 2,9 sq m / 22,804 sq ft 0.85 acres ( hectares) 432,820 Occupancy 97.37% ERV (pa) Tenure 500,000 (AST ERVs + regulated tenancies) Freehold Recently refurbished apartment Recently refurbished apartment 2 3

3 A406 LOCATION The subject property is located on the west side of Coles Green Road, Cricklewood in the London Borough of Brent in north west London. Cricklewood is located between Willesden Green to the west, Brondesbury and Kilburn to the south, Brent Cross to the north, West Hampstead and Childs Hill to the south east and east. Coles Green Road runs parallel to Edgware Road which runs north/south connecting Central London to the North Circular (A406). Among a range of nearby amenities is the Brent Cross Shopping Centre, providing over 20 shops including Apple, Gap, John Lewis, Marks and Spencer and Fenwick. The Welsh Harp Reservoir, a 70 hectare park comprising open water, marshes, trees and grassland, is located less than a mile to the north of the property. TRANSPORT Cricklewood mainline train station is.6 miles to the south, and Dollis Hill London Underground Station (Travel Zone 3 Jubilee Line) is about.4 miles south of the property. In addition various bus routes run along Edgware Road connecting to Central London. Road communications are excellent. The A406 (North Circular) is located 300 metres to the north of the property and provides circular access around Greater London. Junction of the M is situated to the north east. A4 NORTH CIRCULAR ROAD PARK ROYAL A40 A36 A406 A4088 J WEST WAY SHEPHERDS BUSH A5 NOTTING HILL HYDE PARK A4 PADDINGTON A308 A29 A4 A3205 A A4200 REGENT S PARK A50 NEASDON WEST END MAYFAIR A406 N CIRCULAR RD A326 A400 LONDON A3036 A203 A23 A9 A202 CITY OF LONDON A00 A202 A4088 A503 A2 WELSH HARP RESERVOIR GLADSTONE PARK DOLLIS HILL M FURTHER DEVELOPMENT POTENTIAL We consider that the adjacent site and garages to the rear of Delta Court offer an opportunity for further residential development, subject to the necessary consents. The 6 garages to the rear of the property extend to approximately 0.06 acres with a site footprint of 26 sq m (2,807 sq ft). The adjacent site with the derelict B/light industrial building is 0.36 acres with a site footprint of 550 sq m (5,920 sq ft). BRENT CROSS CRICKLEWOOD REGENERATION In July 204 the London Borough of Brent gained planning permission for the Brent Cross Cricklewood master plan. This is a 4 billion plan to create a new town centre delivering 7,500 new homes, 27,000 jobs, three schools, new parks and community facilities. In February 205, a joint venture between Argent and Related Companies was recommended to Brent Council to develop a key 78 hectare site near Brent Cross Shopping Centre which forms part of the wider regeneration masterplan. In addition the chancellor within the 205 budget announced that Brent Cross will benefit from a new 97m railway station. More information can be found via the following link EDGWARE ROAD CRICKLEWOOD CRICKLEWOOD BROADWAY CHICHELE ROAD BRENT CROSS STATION A4 CEICKLEWOOD LANE Not to scale - for identification purposes only TENANCIES The total passing rent is 432,820 per annum. The flats at Delta Court produce 430,20 per annum. There are seven regulated tenancies, 30 ASTS, 7 of which are now periodic tenanciescies, and one recently refurbished flat is vacant. All flats are let on a funished basis. Four of the garages are let on licences achieving a total rent of 2,700 per annum. 2 garages are vacant. The ERV when fully let is approximately 500,000 per annum (ERV for AST apartments plus regulated tenants income). In addition, the vendor has been approached to install a UK Broadband mast on the roof. An initial offer of 3,500 per annum has been submitted. Flat No. Level Beds 4 5 Floor area (sq ft) Floor area (sq m) Type Status Start Date End Date Term Rent pcm Rent per annum G Vacant Vacant 2 G AST Let 0-April-5 3-Mar-6 year,250 5,000 3 G Periodic Let 4-Aug-2 3-Aug-3 year ,466 4 G Periodic Let 0-Mar-4 09-Mar-5 year,000 2, Regulated Let 0-Sep-82 NA , Periodic Let 2-Mar-4 20-Mar-5 year,050 2, Periodic Let 0-Apr- 3-Mar-2 year , Periodic Let 06-Mar-3 05-Mar-4 year,007 2, AST Let 29-Nov-4 28-Nov-5 year,30 3, Regulated Let 0-Dec-85 NA , Regulated Let 0-Sep-84 NA , AST Let 28-Feb-5 27-Feb-6 year,250 5, AST Let 02-Nov-4 0-Nov-5 year,20 3, AST Let 9-Nov-4 8-Nov-5 year,080 2, Periodic Let 09-Feb-4 08-Feb-5 year 925, AST Let 7-Nov-4 6-Nov-5 year,050 2,600 7 G Periodic Let 22-Dec-3 2-Dec-4 year, ,282 8 G Regulated Let 0-Jul-75 NA ,940 9 G Regulated Let 0-Aug-67 NA , G AST AST Agreed,250 5, Periodic Let 5-Jan-4 4-Jan-5 year 950, Periodic Let 25-Sep-2 24-Sep-3 year,000 2, Regulated Let 0-Oct-75 NA , Periodic Let 24-Sep-4 23-Sep-5 year,40 3, Regulated Let 0-Nov-80 NA , AST Let 03-Jan-5 02-Jan-6 year,60 3, AST Let 20-Nov-4 9-Nov-5 year,60 3, AST Let 2-Jun-4 -Jun-5 year,30 3, Periodic Let 28-Jan-4 27-Jan-5 year,000 2, Periodic Let 09-Jan-3 08-Jan-4 year , Periodic Let 0-Jan-3 3-Dec-3 year, , AST Let 23-Mar-5 22-Mar-6 year,250 5, Periodic Let 0-Mar-4 28-Feb-5 year,390 6, AST Let 0-Nov-4 3-Oct-5 year,425 7, AST Let 30-Sep-4 29-Sep-5 year,350 6, Studio Periodic Let 7-Jun-3 6-Jun-4 year 795 9, Studio Periodic Let 23-Nov-3 22-Nov-4 year 760 9, & Periodic Let 29-Mar-3 28-Sep-3 6 months,430 7,60 35, ,20, 3, 9 & License Let View towards Wembley stadium from top floor flats 6-2 months 225 2,700 Total 22,804 36, ,820

4 PLANS GROUND 4TH 9' x '6'' 5.79 x 3.5m 9' x '6'' 5.79 x 3.5m '3'' x 9'9'' 3.43 x 2.97m '3'' x ' 3.43 x 3.35m '3'' x ' 3.43 x 3.35m '3'' x 9'9'' 3.43 x 2.97m ' x 7'3'' 3.35 x 2.2m ' x 7'3'' 3.35 x 2.2m 3'9'' x ' 4.9 x 3.35m 3'9'' x ' 4.9 x 3.35m 2'9'' x 0'9'' 6.63 x 3.28m Studio 23'3'' x 7'3'' 7.09 x 5.26m 5'6'' x 0'3'' 4.72 x 3.2m 3'6'' x 0'3'' 4. x 3.2m 6'3'' x 9' 4.95 x 2.74m Studio 23'3'' x 7'3'' 7.09 x 5.26m ST - 3RD S 5TH 8'3'' x 6'6'' 2.5 x.98m 2'9'' x 0'9'' 6.63 x 3.28m 5' x 9'3'' 4.57 x 2.82m 3'3'' x 0'6'' 4.04 x 3.20m 6'6'' x 8' 5.03 x 2.44m GARAGES 6'5" x 9' 5.00 x 2.74m 6'5" x 9' 5.00 x 2.74m 6 7

5 TENURE Both properties are held freehold. VAT We understand that VAT is not payable on the two properties being offered for sale. METHOD OF SALE The property is offered for sale by way of private treaty, as two separate lots: u Delta Court subject to the existing tenancies FURTHER INFORMATION A full suite of background information, including EPCs and tenancy information can be found on the online data room at CONTACTS Davina Clowes +44 (0) dclowes@savills.com James Laverack +44 (0) jlaverack@savills.com u Adjacent site at 48 Coles Green Road Should a closing date be set for the submission of offers, all parties who have expressed an interest will be advised accordingly. VIEWINGS Viewings are to be arranged strictly through Savills as the sole selling agent. 33 Margaret Street London WG 0JD Important Notice Savills, their clients and any joint agents give notice that:. 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: April 205 8