docbrochure - Wells Court, Hampstead
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brochure - Wells Court, Hampstead
A unique residential conversion opportunity in the heart of Hampstead Village, NW3 1QN The Opportunity The Property Location Gallery Market Overview The Opportunity The picturesque village of Hampstead is one of the most sought after residential locations in north London. It benefits from the renowned beauty of Hampstead Heath, the vibrant atmosphere of the High street, all within close proximity to central London. Located in the prime centre of Hampstead, the property offers a unique conversion opportunity to deliver a highly desirable residential scheme. \ Residential Conversion Opportunity \ Sheltered Housing within C3 Use Class \ Existing – 24 bedsits and flats / 902 sq m NIA / 1,076 sq m GIA approx \ For sale on behalf of the London Borough of Camden \ Offers invited for the Freehold interest www.wellscourt-hampstead.co.uk Planning Sales Process Contact The Opportunity The Property Location Gallery The Property \ Overview Market Overview Planning Sales Process Contact The Property \ Accommodation Wells Court is situated in the heart of Hampstead within 100 meters of Hampstead Underground Station (northern line) connecting residents to Central London within 15 minutes. Oriel Place is a pedestrianised street and lies adjacent to Hampstead High Street which is home to many highend national and boutique retailers. The property comprises a substantial late Victorian (1880s), 5 storey purpose built housing block. The frontage directly overlooks Oriel Place Gardens, an area of designated Public Open Space. The building lies within the Hampstead Conservation Area and has been identified as a positive contributor. The building is arranged over five floors and comprises 24 bedsits and one bedroom flats, one is being used as an office/common room and one as a laundry room. It was converted into its current use in the 1970s. Local buildings are of a similar design and architecture to Wells Court, the majority of which are of traditional Victorian masonry construction featuring sash windows. Due to the urbanised location of the property there is no parking available, although this is unproblematic due to the great location. Building Footprint 254 sq m Net Internal Area 902 sq m (9,710 sq ft) Gross Internal Area 1,069 sq m (11,516 sq ft) Gross External Area 1,198 sq m (12,898 sq ft) (Approximate Areas) The Property \ Background Wells Court is owned by the London Borough of Camden and was formerly used as sheltered housing for the elderly. As part of the Council’s Community Investment Programme and the Adult Social Care Accommodation Strategy to modernise and upgrade the Council’s sheltered housing stock, the residents have moved into modernised, fit for purpose accommodation. Wells Court is therefore surplus to requirements. www.wellscourt-hampstead.co.uk The Opportunity The Property Location Overview Gallery Market Overview The Local Area Transport Location \ Overview Hampstead is mentioned as early as William the Conqueror’s Domesday Book, it later became one of London’s first spa suburbs in the 1700s, and after the opening of its railway station in the 1860s, it expanded dramatically and became a popular area amongst wealthy families who commuted into the city centre. Wells Court is situated in the heart of Hampstead Village, which has a range of small independent boutique shops, cafes, bars and restaurants, but with all the convenience of being 15 minutes from Central London. In close proximity to Hampstead Heath, it also allows residents access to the largest area of parkland in London. www.wellscourt-hampstead.co.uk Planning Sales Process Contact The Opportunity The Property Location Overview Gallery Market Overview The Local Area Transport Planning Sales Process Contact Location \ The Local Area Retail & Leisure The property connects to both Hampstead High Street and Heath Street, which are very popular with both Londoners and tourists. The immediate area is full of upscale boutiques, such as Hampstead Bazaar and Del Maestrio, as well as many national retailers including Boots, Tony and Guy, Hobbs London, Jigsaw, Nicole Farhi and Kurt Gieger. There are numerous fashionable restaurants, cafés and bars from French to Thai. Notable restaurants include Gaucho, Jin Kichi, Villa Blanca. There is also a selection of independent deli’s and coffee shops, and a plethora of traditional British pubs as well as a thriving community market. Open Spaces Nearby, the world famous Hampstead Heath is the largest area of parkland in London, and one of the largest city parks in the world, covering almost 800 acres. It is one of the capitals highest natural points, providing some of the best views available to the public. Known locally as ‘The Heath’ the park provides public swimming ponds open 365 days of the year. Arts & Culture Hampstead itself maintains much of its village character with a total of 18 Grade II listed buildings on the high street alone. Hamstead has rich cultural heritage interest including Keats House the former home of the famous poet John Keats, stately homes Burgh House and Kenwood House and Erno Goldfringer’s House at 2 Willow Road which is now a National Trust Property. www.wellscourt-hampstead.co.uk Hampstead’s boutique cinema Everyman offers a private screening room and there are a number of art galleries including Catto Gallery and New End Gallery. Hampstead also hosts the Affordable Art Fair on a yearly basis which attracts thousands of visitors. Education Excellent schooling is a big draw for the area and includes the well regarded University College School, Southbank International School, St Margaret’s Girls School and South Hampstead High School for Girls, Devonshire House Preparatory School, Hampstead Hill School and Haverstock Secondary School. The Opportunity The Property Location Overview Gallery Market Overview The Local Area Transport Planning Sales Process Stevenage A6 A505 M11 A1(M) click to enlarge Hertford M1 A414 Underground Wells Court is a very short walk to Hampstead Underground (Northern Line) station which provides access to Central London within 15 minutes. The station is within Travelcard Zone 2 and forms the boundary for Zone 3. Train The nearest railway station is Hampstead Heath railway approximately 0.6 miles away. This station forms part of the London Overground network and provides transport to destinations including Clapham Junction, Stratford and Richmond Upon Thames. Bus Hampstead Village is well served by the major nearby bus terminus Hampstead Heath in South End Green. The number 24 bus service has served the area for over 100 years and provides access to the West End, Victoria and Pimlico. Other bus routes which currently service Hampstead Village include the 46, 168, 210, 268, 603, C11 and N5. Road The area is serviced by an extensive road network. Finchley Road (A41 north) runs to Marylebone Road via Baker Street and provides direct access to Central London. In addition, good access to the A406 (North Circular) allows connectivity to the rest of London. Hemel Hemstead A414 Harlow St.Albans A41 A414 A10 A414 Epping M25 A413 Watford Barnet Enfield M11 M1 M25 A12 Edgware A406 M40 Fly All of London’s major airports including Heathrow, London City and Gatwick are within easy reach of Hampstead. A120 A10 A602 Location \ Transport Stansted A120 Luton A5 Wells Court offers excellent transport options and benefits from a PTAL rating of 4. Contact A10 Wembley A406 A40 M4 A12 HAMPSTEAD Barking Stratford M25 A13 LONDON A4 A127 A12 City A13 M4 Windsor Heathrow A205 A4 A205 Richmond A3 A205 A2 By National Rail from Hampstead: Euston Oxford Circus Bank approx 9 mins approx 13 mins via Victoria Line approx 18 mins (TFL website) click here to zoom in on road map www.wellscourt-hampstead.co.uk click here to view train connections Dartford northern line | Towards Edgware overground | road map | close Towards High Barnet Golders Green Archway Hampstead Tufnell Park Finsbury Park Kentish Town Belsize Park Towards Walthamstow Central Chalk Farm Highbury & Islington Camden Town Mornington Crescent King’s Cross St. Pancras Euston Angel Old Street Warren Street Bond Street Towards Stratford & Epping Oxford Circus Towards Ealing Broadway Liverpool Street Moorgate Tottenham Court Road Holborn Chancery Lane Bank St. Paul’s Green Park Monument Charing Cross Victoria Waterloo Pimlico London Bridge Elephant & Castle Vauxhall (Source: TFL) Please click here to see full Tube Map. Towards Clapham www.wellscourt-hampstead.co.uk northern line | overground | road map | close Watford Junction Hampstead Heath Finchley Road & Frognal Willesden Junction Kensal Rise Kensal Green Queen’s Park Brondesbury Park Kentish Town West W est Hampstead Camden Road Brondesbury Kilburn High Road South Hampstead Highbury & Islington Caledonian Road & Barnsbury Dalston Kingsland Hackney Central Canonbury Dalston Junction Homerton Haggerston Euston Hoxton 2 Shoreditch High Street Shepherd’s Bush Whitechapel Shadwell Kensington (Olympia) Wapping Rotherhithe Bermondsey West Brompton Canada Water Surrey Quays Gunnersbury Kew Gardens Imperial Wharf Richmond 4 Queens Road Peckham Clapham Junction Wandsworth Road Clapham High Street Peckham Rye Denmark Hill www.wellscourt-hampstead.co.uk New Cross (Source: TFL) Hackney Wick Stratford | overground | road map | close E a s t Heath Road HAMPSTEAD HEATH rc h R ow Pr W el lR oa d W ell W alk He at h Ro ad Hi ll u th r eA c in mp ste o rR ad Hig hS tree t www.wellscourt-hampstead.co.uk Kemp la A502 Denni ng Ro a gford Rd d La ne Willow Road Pi lg r Carlin Ga Ha Wil oug hby Roa d l. lP e i Or a lk W nR oa d Fl as k Hampstead EVERYMAN CINEMA ad Chu rist ch ur ch Ea st HAMPSTEAD eet H e a th S tr Holly Walk Fro gn al Ch New End et Stre l Hil ar k ll P Hi R e dington Road BURGH HOUSE & HAMPSTEAD MUSEUM H e a th ll y Ho O ak o nn Ca e l ac P n yto ay W l Hampstead Grove Lo we rT e r rac e l ak O l Hi FENTON HOUSE eet h Str Heat m Hil a sh y He ne a L nch Bra Tem A502 im ’s pl e woo d Ave northern line y Rd Hampstead Heath 0.6 miles The Opportunity The Property Location Gallery Market Overview www.wellscourt-hampstead.co.uk Planning Sales Process Contact close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk close www.wellscourt-hampstead.co.uk The Opportunity The Property Location Gallery Market Overview Planning Sales Process Contact Market Overview Hampstead is affluent, and is one of London’s most sought after residential locations. It has some of the most expensive housing in the capital and more millionaires live within Hampstead’s boundaries than any other area of the UK. Several other luxury developments, include, West Heath Place comprising 60 two-bed, three-bed and four-bed apartments, Axis, Finchley Road provides a new mixed use development comprising of one and two bedroom apartments, The Lexington, Finchley Road, a development of 80 apartments and houses and 58 West Heath Drive, comprising seven luxury three bedroom apartments. The scarcity of available properties and development opportunities coming to market in the locality, coupled with growing demand from people aspiring to live in one of the most desirable parts of the capital, has led to an upward pressure on residential values. Demand is also high from overseas buyers looking to expand their investment in the city outwards, with London traditionally viewed as a ‘safe haven.’ The average property price in NW3 is much higher than the London average. The majority of new schemes are on the outskirts of Hampstead, a residential opportunity within Hampstead Village itself provides a unique opportunity. According to the Land Registry House Price Index (September 2015), average house prices across the London Borough of Camden are £826,892, compared to £499,997 for London. A new residential scheme by Barratt Homes, is located on Finchley Road, marketed as Kidderpore Green providing 128 residential units. A large proportion of the units have been sold off plan illustrating high demand for residential stock in the area. Property type Avg. current value Avg. £ per sq ft. Avg. No of beds Avg. £ paid (last 12m) Detached £5,472,523 £1,498 5.1 £4,654,411 Semi-detached £3,560,674 £1,421 4.3 £3,353,596 Terraced £2,286,895 £1,259 3.8 £2,373,774 Flats £1,041,883 £1,181 2.2 £1,040,216 Property value data for NW3 (Source: Zoopla) www.wellscourt-hampstead.co.uk The Opportunity The Property Location Gallery Market Overview Planning Sales Process Contact Planning Wells Court is in the centre of Hampstead village which is a designated town centre location. It is also within the Hampstead Conservation Area, and is identified as a positive contributor. There is a strong presumption that ‘Wells Court’ will be retained and refurbished in any proposals. Wells Court operated within a C3 use class as sheltered housing as defined in paragraph 7.2 of Policy DP7 as ‘commonly self-contained homes with limited onsite support (usually within Use Class C3)’. Sheltered housing for older people is protected under policy DP7 of the Camden Development Policies. However, Wells Court has been identified as unsuitable for its current users, and even with investment, cannot be brought up to a standard that is suitable to meet the needs of elderly or frail sheltered residents now, or in the future. Residents of Wells Court have been relocated to new and improved sheltered housing, close by; including Monro House, Henderson Court and Waterhouse. The above circumstances, is likely to be the most relevant in making a case for any loss of the care home in any future planning application. Planning Statement Conclusion and Recommendation: The loss of sheltered housing (use class C3) is likely to be justified in policy terms, in the context of investment proposals for other sheltered housing in nearby locations. The LPA would seek to optimise the number of units delivered on the site taking into account the constraints of the existing building, the desire to create a mix of unit sizes and subject to other planning policies including the provision of affordable housing. The building’s prominent location in the Hampstead CA makes it sensitive to change and although there may be limited scope for development at roof level this will be subject to a full planning and design assessment including: its impact on the streetscape, short and long views and residential amenity. Design execution and quality of materials will be key to the acceptability of any external alterations to the existing building. The planning statement is provided by London Borough of Camden (LBC) planning officers to provide clarity to perspective purchasers. The advice constitutes informal officer opinion that is without prejudice to the formal consideration by the Local Planning Authority (LPA) of any subsequent planning applications. A Planning Statement is available in the data room, which sets out parameters within the existing consent as well as what would constitute development and therefore require a planning consent. www.wellscourt-hampstead.co.uk The Opportunity The Property Location Gallery Market Overview Planning Sales Process Contact Sales Process Basis Of Sale - Subject to Contract The freehold interest in the whole site is being offered with vacant possession. The property is offered for sale by informal tender, in accordance with the head of terms document provided in the data room. Tenure The London Borough of Camden own the freehold interest and is registered with the Land Registry under the title number NGL 89457. A Title Report is available in the data room. Professional Fees The Purchaser shall on exchange of contracts pay a non-refundable Administration Fee of 2% of the purchase price. Offers are to be received by 12 noon on Thursday 28th January 2016 and are to be submitted by post using the Bidder Submission Template together with the Heads of Terms document, addressed to: Deposit A 10% deposit will be payable on exchange of contracts. Ref: WCH FAO Helen Moss Lambert Smith Hampton United Kingdom House, 180 Oxford Street, London W1D 1NN Offers The Vendors preference is for unconditional offers, but consideration to conditional offers will be considered if they represent best overall value. VAT VAT is payable on the purchase price. The London Borough of Camden is not bound to accept the highest or any offer and reserve the right to enter into negotiations with any party. Energy Performance Certificate The EPC is available in the data room. A Bidder Submission Template and further details can be found in the data room. www.wellscourt-hampstead.co.uk Viewing Days Viewing days will be arranged for interested parties, strictly by appointment only through the sole agent. The Opportunity The Property Location Gallery Market Overview Planning Sales Process Contact Contact Viewings strictly by appointment only through the sole agent. Helen Moss [email protected] 020 7198 2143 07837 815 305 Adam Procter [email protected] 020 7198 2297 PRINT THIS BROCHURE www.wellscourt-hampstead.co.uk MISREPRESENTATION © Lambert Smith Hampton Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters. Designed by Zest Design & Marketing 020 7079 3090 (01593) November 2015.
