DELTA COURT
DELTA COURT & ADJACENT LAND
COLES GREEN ROAD,
LONDON NW2 7HB
FREEHOLD INTEREST FOR SALE
1
DELTA COURT
DESCRIPTION
Delta Court was constructed in the 1950s,
with two additional floors added in 2005
(PP/05/1992). The property comprises 38
residential apartments extending to
2,119 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.
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 2,119 sq m / 22,804 sq ft
(GIA excluding common parts)
Immediately to the north is an adjoining
plot of land occupied by a empty B1/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 0.815 acres
(0.3298 hectares).
Ho
use
12
6
16
12
5h
5f
1
7
13
CO
S
1 48
LE
7
12
GR
EE
N
AD
RO
11
9
11
1
7
11
11
3
W orks
te
ga
Ox m
r
Fa
1
10
Oxgate F arm
W orks
39
24
W orks
41
2
W orks
AD
Freehold
E
OS
60.3m
45
Tenure
CL
W orks
RO
£500,000 (AST ERVs +
regulated tenancies)
ST
UR
OO
ERV (pa)
4
2
H
EY
RL
97.37%
8
W orks
TE
Occupancy
14
43
£432,820
E
OS
58.3m
WA
Passing
Rent (pa)
CL
47
0.815 acres
(0.2687 hectares)
38
Delta C ourt
u Combined site area of 0.815 acres
(0.2687 hectares)
Total Site
Area
1 to
T ank
u Significant scope for further residential
development and asset management
initiatives
2,119 sq m / 22,804 sq ft
DA
CE
58.1m
u ERV when fully let approximately
£500,000 per annum
Area
(sq m/sq ft)
x
11
9
13
L
KE
u Current passing rent £432,820 per
annum (occupied by 30 ASTs, seven
regulated tenants and four garage
licenses; one recently refurbished flat and
12 garages are vacant)
38 apartments, adjacent
vacant building & 16
garages
to
2
5
14
u Located in Cricklewood, within the
London Borough of Brent close to the
Brent Cross Cricklewood Regeneration
Area
Units
a
to
gic
Ma
1 50
AD
G1
S TR
RO
LD
F IE
rks
u Vacant B1/light industrial building on
adjacent site
KES
EA
Wo
1
u 16 garages situated to the rear (four
let on short licenses, 12 vacant) and 20
additional surface car parking spaces
To the rear of the property are 16 garages
arranged along the west boundary of the
site, extending to 261 sq m (2,807 sq ft).
8
G1
INVESTMENT
SUMMARY
4
DELTA COURT
NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432
Savills (UK) Ltd.NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.
Recently refurbished apartment
Recently refurbished apartment
3
DELTA COURT
LOCATION
FURTHER DEVELOPMENT
POTENTIAL
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 120 shops including Apple, Gap, John Lewis,
Marks and Spencer and Fenwick. The Welsh Harp Reservoir, a 170
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 1.6 miles to the south, and Dollis
Hill London Underground Station (Travel Zone 3 – Jubilee Line) is
about 1.4 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 1 of the M1 is
situated to the north east.
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.
A1
A5
BRENT CROSS CRICKLEWOOD
REGENERATION
In July 2014 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 2015, 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 2015 budget announced that Brent Cross will benefit from a
new £97m railway station. More information can be found via the
following link http://brentcrosscricklewood.com
NOTTING HILL
HYDE
PARK
SHEPHERDS
BUSH
A4
6
40 LONDON
A2
A23
A316
A4
08
8
A307
A100
A3036
A308
A203
A219
A3216
A202
A3205
CRICKLEWOOD
CR
K
IC
GLADSTONE PARK
E
LAN
OD
WO
E
L
ICK
CE
RO
AD
AY
DW
OA
BR
A406
D
OO
W
LE
88
A 40
NEASDON
Flat No.
Level
Beds
Floor area
(sq ft)
Floor area
(sq m)
Tenancy
Type
Status
Tenancy
Start Date
Tenancy
End Date
01-April-15
14-Aug-12
10-Mar-14
01-Sep-82
21-Mar-14
01-Apr-11
06-Mar-13
29-Nov-14
01-Dec-85
01-Sep-84
28-Feb-15
02-Nov-14
19-Nov-14
09-Feb-14
17-Nov-14
22-Dec-13
01-Jul-75
01-Aug-67
31-Mar-16
13-Aug-13
09-Mar-15
1
G
2
565
52.5
Vacant
Vacant
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
G
G
G
1
1
1
1
2
2
2
2
3
3
3
3
G
G
G
G
1
1
1
1
2
2
2
2
3
3
3
3
4
4
4
4
4
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
3
3
2
Studio
Studio
578
578
565
565
578
578
565
565
578
578
565
565
578
578
565
565
578
578
565
565
578
578
565
565
578
578
565
565
578
578
565
868
868
952
400
400
53.7
53.7
52.5
52.5
53.7
53.7
52.5
52.5
53.7
53.7
52.5
52.5
53.7
53.7
52.5
52.5
53.7
53.7
52.5
52.5
53.7
53.7
52.5
52.5
53.7
53.7
52.5
52.5
53.7
53.7
52.5
80.6
80.6
88.4
37.2
37.2
AST
Periodic
Periodic
Regulated
Periodic
Periodic
Periodic
AST
Regulated
Regulated
AST
AST
AST
Periodic
AST
Periodic
Regulated
Regulated
AST
Periodic
Periodic
Regulated
Periodic
Regulated
AST
AST
AST
Periodic
Periodic
Periodic
AST
Periodic
AST
AST
Periodic
Periodic
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
AST Agreed
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
Let
15-Jan-14
25-Sep-12
01-Oct-75
24-Sep-14
01-Nov-80
03-Jan-15
20-Nov-14
12-Jun-14
28-Jan-14
09-Jan-13
01-Jan-13
23-Mar-15
01-Mar-14
01-Nov-14
30-Sep-14
17-Jun-13
23-Nov-13
02-Jan-16
19-Nov-15
11-Jun-15
27-Jan-15
08-Jan-14
31-Dec-13
22-Mar-16
28-Feb-15
31-Oct-15
29-Sep-15
16-Jun-14
22-Nov-14
38
4&5
2
1028
95.5
Periodic
Let
29-Mar-13
28-Sep-13
20-Mar-15
31-Mar-12
05-Mar-14
28-Nov-15
27-Feb-16
01-Nov-15
18-Nov-15
08-Feb-15
16-Nov-15
21-Dec-14
14-Jan-15
24-Sep-13
23-Sep-15
View towards Wembley stadium from top
floor flats
Term
Rent pcm
Rent per
annum
1 year
1 year
1 year
NA
1 year
1 year
1 year
1 year
NA
NA
1 year
1 year
1 year
1 year
1 year
1 year
NA
NA
£1,250
£955.50
£1,000
£411.67
£1,050
£866.66
£1,007
£1,130
£411.67
£411.67
£1,250
£1,120
£1,080
£925
£1,050
£1,023.50
£411.67
£411.67
£1,250
£950
£1,000
£411.67
£1,140
£411.67
£1,160
£1,160
£1,130
£1,000
£979.38
£1,084.64
£1,250
£1,390
£1,425
£1,350
£795
£760
£15,000
£11,466
£12,000
£4,940
£12,600
£10,400
£12,084
£13,560
£4,940
£4,940
£15,000
£13,440
£12,960
£11,100
£12,600
£12,282
£4,940
£4,940
£15,000
£11,400
£12,000
£4,940
£13,680
£4,940
£13,920
£13,920
£13,560
£12,000
£11,753
£13,016
£15,000
£16,680
£17,100
£16,200
£9,540
£9,120
£1,430
£17,160
£35,843.35
£430,120
£225
£2,700
£36,068.35
£432,820
1 year
1 year
NA
1 year
NA
1 year
1 year
1 year
1 year
1 year
1 year
1 year
1 year
1 year
1 year
1 year
1 year
6
months
LE
J1
A4
PADDINGTON
CH
IC
HE
J2
A1202
CITY OF
LONDON
WEST
END
MAYFAIR
A
Y
1
A4
W E S T WA
AD
RO
A501
PARK ROYAL
A40
E
REGENT’S
PARK
D
AR
GW
A4200
LING
BRENT CROSS
STATION
ED
R
ULAR
IRC
C
N
A119
Four of the garages are let on licences achieving a total rent of £2,700 per annum. 12 garages are vacant.
In addition, the vendor has been approached to install a UK Broadband mast on the roof. An initial offer of £13,500
per annum has been submitted.
A400
A41
NORTH
CIRCULAR
ROAD
The flats at Delta Court produce £430,120 per annum. There are seven regulated tenancies, 30 ASTS, 17 of which
are now periodic tenanciescies, and one recently refurbished flat is vacant. All flats are let on a funished basis.
The adjacent site with the derelict B1/light industrial building is 0.136
acres with a site footprint of 550 sq m (5,920 sq ft).
WELSH HARP
RESERVOIR
A406
RENT
The total passing rent is £432,820 per annum.
The ERV when fully let is approximately £500,000 per annum (ERV for AST apartments plus regulated tenants
income).
M1
A503
J1
TENANCIES
The 16 garages to the rear of the property extend to approximately
0.06 acres with a site footprint of 261 sq m (2,807 sq ft).
M1
OW
DELTA COURT
Garage
1, 3, 9 & 11
DOLLIS HILL
Total
Garage
License
22,804
Let
6-12
months
Not to scale - for identification purposes only
4
5
DELTA COURT
DELTA COURT
FLOOR PLANS
GROUND
FLOOR
Bedroom
12' x 11'6''
3.66 x 3.51m
Bedroom
10'3'' x 7'
3.12 x 2.13m
Bedroom
12' x 11'6''
3.66 x 3.51m
Bedroom
12' x 11'6''
3.66 x 3.51m
Bedroom
10'3'' x 7'
3.12 x 2.13m
Bedroom
10'3'' x 7'
3.12 x 2.13m
4TH
FLOOR
Bedroom
12' x 11'6''
3.66 x 3.51m
Reception
Room
19' x 11'6''
5.79 x 3.51m
Bedroom
10'3'' x 7'
3.12 x 2.13m
Kitchen
11'3'' x 9'9''
3.43 x 2.97m
Reception
Room
13'6'' x 11'3''
4.11 x 3.43m
Kitchen
8' x 6'
2.44 x 1.83m
Bedroom
10'3'' x 8'3''
3.12 x 2.51m
Bedroom
12' x 11'3''
3.66 x 3.43m
Reception
Room
13'6'' x 11'6''
4.11 x 3.51m
Reception
Room
13'6'' x 11'6''
4.11 x 3.51m
Bedroom
10'3'' x 7'
3.12 x 2.13m
Reception
Room
13'6'' x 11'3''
4.11 x 3.43m
Kitchen
8' x 6'
2.44 x 1.83m
Kitchen
10'6'' x 6'9''
3.20 x 2.06m
Kitchen
8' x 6'
2.44 x 1.83m
Kitchen
10'6'' x 6'9''
3.20 x 2.06m
Bedroom
12' x 11'6''
3.66 x 3.51m
Reception
Room
13'6'' x 11'3''
4.11 x 3.43m
Kitchen
8' x 6'
2.44 x 1.83m
Kitchen
10'6'' x 6'9''
3.20 x 2.06m
1ST - 3RD
FLOORS
Bedroom
10'3'' x 8'3''
3.12 x 2.51m
Reception
Room
13'6'' x 11'3''
4.11 x 3.43m
Bedroom
10'3'' x 8'3''
3.12 x 2.51m
Bedroom
12' x 11'3''
3.66 x 3.43m
Bedroom
10'3'' x 8'3''
3.12 x 2.51m
Bedroom
12' x 11'3''
3.66 x 3.43m
Reception
Room
13'6'' x 11'3''
4.11 x 3.43m
Kitchen
8' x 6'
2.44 x 1.83m
Kitchen
8' x 6'
2.44 x 1.83m
Kitchen
10'6'' x 6'9''
3.20 x 2.06m
Bedroom
10'3'' x 8'3''
3.12 x 2.51m
Bedroom
10'3'' x 8'3''
3.12 x 2.51m
Bedroom
13'9'' x 11'
4.19 x 3.35m
Reception
Room
13'6'' x 11'6''
4.11 x 3.51m
Reception
Room
13'6'' x 11'3''
4.11 x 3.43m
Kitchen
10'6'' x 6'9''
3.20 x 2.06m
Bedroom
12' x 11'3''
3.66 x 3.43m
6
Reception
Room
13'6'' x 11'6''
4.11 x 3.51m
Bedroom
12' x 11'3''
3.66 x 3.43m
Bedroom
12' x 11'3''
3.66 x 3.43m
Reception
Room
13'6'' x 11'6''
4.11 x 3.51m
Kitchen
11'3'' x 9'9''
3.43 x 2.97m
Bedroom
13'9'' x 11'
4.19 x 3.35m
Bedroom
10'3'' x 8'3''
3.12 x 2.51m
Reception
Room
21'9'' x 10'9''
6.63 x 3.28m
Studio
23'3'' x 17'3''
7.09 x 5.26m
Bedroom
12' x 11'3''
3.66 x 3.43m
Reception
Room
21'9'' x 10'9''
6.63 x 3.28m
8'3'' x 6'6''
2.51 x 1.98m
Bedroom
15' x 9'3''
4.57 x 2.82m
Bedroom
10'3'' x 7'
3.12 x 2.13m
Studio
23'3'' x 17'3''
7.09 x 5.26m
Kitchen
16'3'' x 9'
4.95 x 2.74m
Bedroom
13'6'' x 10'3''
4.11 x 3.12m
Bedroom
15'6'' x 10'3''
4.72 x 3.12m
5TH
FLOOR
Bedroom
12' x 11'6''
3.66 x 3.51m
Bedroom
13'3'' x 10'6''
4.04 x 3.20m
Kitchen
16'6'' x 8'
5.03 x 2.44m
Reception
Room
13'6'' x 11'3''
4.11 x 3.43m
GARAGES
Kitchen
8' x 6'
2.44 x 1.83m
Kitchen
10'6'' x 6'9''
3.20 x 2.06m
Bedroom
10'3'' x 8'3''
3.12 x 2.51m
Garage
16'5" x 9'
5.00 x 2.74m
Reception
Room
13'6'' x 11'6''
4.11 x 3.51m
Bedroom
11'3'' x 11'
3.43 x 3.35m
Bedroom
11' x 7'3''
3.35 x 2.21m
Kitchen
8' x 6'
2.44 x 1.83m
Reception
Room
13'6'' x 11'6''
4.11 x 3.51m
Bedroom
10'3'' x 7'
3.12 x 2.13m
Bedroom
11'3'' x 11'
3.43 x 3.35m
Bedroom
11' x 7'3''
3.35 x 2.21m
Kitchen
10'6'' x 6'9''
3.20 x 2.06m
Bedroom
12' x 11'6''
3.66 x 3.51m
Bedroom
10'3'' x 7'
3.12 x 2.13m
Reception
Room
13'6'' x 11'3''
4.11 x 3.43m
Kitchen
10'6'' x 6'9''
3.20 x 2.06m
Bedroom
12' x 11'6''
3.66 x 3.51m
Reception
Room
19' x 11'6''
5.79 x 3.51m
Reception
Room
13'6'' x 11'6''
4.11 x 3.51m
Garage
16'5" x 9'
5.00 x 2.74m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Garage
16'5" x 9'6"
5.00 x 2.90m
Bedroom
12' x 11'3''
3.66 x 3.43m
7
DELTA COURT
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
www.savills.com/deltacourt
CONTACTS
Davina Clowes
+44 (0) 207 016 3838
[email protected]
James Laverack
+44 (0) 20 7016 3770
[email protected]
u Adjacent site at 148 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 W1G 0JD
Important Notice
Savills, 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
April 2015
8