1 - 8 New College Parade, Finchley Road, NW3

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Key Points

Summary

Prominent retail investment opportunity situated on one of North London's most popular throughfares

Description

8 New College Parade comprises a mixed use building arranged over basement, ground and two upper floors totalling 19,940 sq ft (1,852.5 sq m).

The commercial element comprises of six units providing 10,527 sq ft (977.9 sq m) of retail accommodation, arranged over ground and basement floors.

The residential accommodation comprises 16 flats totalling 9,413 sq ft arranged over 1st and 2nd floors. All flats have been sold off on long-leasehold interests; eight are sold off on 999 year terms, and seven are sold off on 189 year terms from 1978. One apartment has a lease expiring in December 2077.

Location

1-8 New College Parade is located within the London Borough of Camden and occupies a prominent position on the Finchley Road.

The wider area is mixed-use, largely comprising the affluent surrounding residential areas of Hampstead, Belsize Park and Swiss Cottage. The retail and leisure amenity offering across the Finchley Road includes the O2 Centre to the west, and occupiers such as Waitrose, Pret, Anytime Fitness, Pure Gym, and Boots within the immediate proximity.

The building directly next door to 1-8 New College Parade (9-12 New College Parade) is due to be redeveloped to deliver a boutique hotel. Plans involve replacing the existing building with a six-storey building, including 59 hotel rooms, three new residential apartments and approximately 2,150 sq ft of retail space.

Availability_text

The accommodation comprises the following areas: