NORTHUMBERLAND. FOR SALE Freehold Office Investment with Planning Consent for a 27,157 sq Ft (GIA) Student Housing Block

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1 CGI of student housing Existing FOR SALE Freehold Office Investment with Planning Consent for a 27,157 sq Ft (GIA) Student Housing Block G U I D E P R I C E 4. 2 m i l l i o n m i l l i o n NORTHUMBERLAND H O U S E 11 The Pavement, Popes Lane Ealing. London W5 4NG

2 KEY 1. Red Lion 4. Cote 2 Rose & Crown 5. Carluccios 3. New Inn 6. Ealing Shopping Centre 7. Proposed Brentford Football Stadium

3 LOCATION Northumberland House is situated within the London Borough of Hounslow, close to its boundary with the London Borough of Ealing. The property is situated at the junction of Popes Lane (B4491) and Lionel Road North in a predominantly residential area approximately ¾ mile from Ealing town centre. Communications are excellent. The M4 (Junction 2) is less than a mile to the south of the property via Lionel Road North, South Ealing Underground Station (Piccadilly Line) is approximately 8 minutes walk to the north west. The A406 North Circular Road is accessed via South Ealing Road and the A315. South Ealing is also served by the E3 (Chiswick), and the 65 (Kingston) bus routes. DESCRIPTION The existing building comprises a purpose built L shaped office building which adjoins a retail parade at its frontage with Popes Lane. It is arranged over ground and 2 upper floors together with a basement car park and is currently used as a serviced office centre. ACCOMMODATION: The existing accommodation, measured in accordance with the RICS code of measuring practice (6 th Edition) on the basis of Net Internal Area (NIA) as follows: FLOOR USE Sq M Sq Ft Ground (Front) Reception Area Ground Offices ,952 First (Front ) Offices First Offices ,591 Second Offices NET INTERNAL AREAS 1, ,840 3

4 TENANCY: The entire property is currently let on FRI terms to Boon and Sons (Holdings) Ltd, trading as Oasis Business Centre Ltd for a term expiring on the 25th December 2014 at a rent of 72,000 per annum exclusive, the lease is excluded from the security of tenure provisions of the 1954 Landlord & Tenant Act part II'. EXISTING & PROPOSED FOOTPRINT: There is a net additional increase of 36 sq m (4.5%) Existing Site Plan 4

5 NORTHUMBERLAND HOUSE PLANNING CONSENT: Planning permission has been granted for the demolition of an existing office building and underground parking and the erection of a new part three, part four storey building to provide 77 No units of student accommodation at Northumberland House, 11 The Pavement, Popes Lane, London W5 4NB in accordance with the terms of the application, Ref 00886/11/P18 (P/2012/2322), dated 20 August 2012, subject to the conditions set out in the schedule. 5

6 PROPOSED STUDENT ACCOMODATION SCHEDULE: 6 LOWER GROUND GROUND FIRST FLOOR SECOND FLOOR Room No Area Sq M Area Sq Ft Room No Area Sq M Area Sq Ft Room No Area Sq M Area Sq Ft Room No Area Sq M Area Sq Ft GEA GEA GEA GEA GIA GIA GIA GIA FLOOR BY FLOOR TOTAL AREAS (sq m & sq m) FLOOR GROSS EXTERNAL AREA SQ M GROSS EXTERNAL AREA SQ FT GROSS INTERNAL AREA SQ M GROSS INTERNAL AREA SQ FT Lower Ground Floor Ground Floor First Floor Second Floor TOTAL

7 SUMMARY OF CLOSEST INSTITUTIONS UNIVERSITY/COLLEGE STATION or LOCATION TRANSPORT TRAVEL TIME ( includes walk from tube) West London College Ealing Campus South Ealing Walk / Bus minutes walk / 12 min bus West London College Hammersmith Campus Barons Court Underground - Piccadilly & District 22 minutes - underground West London College- Acton Campus Acton Town Underground Piccadilly /Bus E3 13 min underground / 15 min bus West London College Southall Campus Beaconsfield Road UB1 Bus 65 & Overground (Ealing Broadway) 42 minutes bus & overground University of West London Ealing Campus Saint Mary's Road W5 Walk 19 minutes - walk University of West London Brentford Campus Boston Manor Road TW8 Walk 28 minutes - walk Kingston University Kingston Bus minutes - bus Pepperdine University South Kensington Underground - Piccadilly & District 29 minutes - underground Kaplan Aspect West Kensington Underground - District 23 minutes - underground Boston University London Earls Court Underground - Piccadilly & District 25 minutes - underground Ashborne College High Street Kensington Underground - Piccadilly & District 33 minutes - underground Imperial College White City Campus (under construction) Wood Lane Station Underground Piccadilly, Circle or Hammersmith & City 33 minutes - underground Imperial College - St Mary s Campus Paddington Underground - Piccadilly & District 40 minutes - underground Chelsea School of Design Imperial Wharf Underground - Piccadilly, District & Overground 40 minutes - underground A B C D E A Imperial College - St Mary s B. Ashborne College C Kingston University D University of West London Ealing E Pepperdine University 7

8 SHORTAGE OF STUDENT ACCOMMODATION IN LONDON Ealing, Hammersmith & West London College comprises four campuses, with over 25,000 students. The College offer various full-time and part time courses across a broad range of subjects for students of different ages, levels and needs. Students enjoy the benefits of our extensive range of facilities and a safe learning environment. However, one of the major issues we face is the provision of accommodation for our students. There are limited, affordable options available in the surrounding areas. I am sure that the location of the above-mentioned student accommodation will be of great interest to students based at our Hammersmith, Ealing and Acton campuses as we currently have a lack of suitable accommodation for our students We currently have over 2,000 international students who require housing in the UK, upon arrival. Rachel Gurney, International Manager Ealing, Hammersmith & West London College The London Student population is suffering from a massive under supply of housing and the pipeline is currently set to fulfil just 2.5% of pent up demand. Existing consented schemes together with sites where consent is being sought provide a total pipeline of 20,944 purpose build student beds within the next months. Knight Frank estimates that there are currently 233,000 full time students in London who are unable to access either halls of residence or purpose built student accommodation. If the entire pipeline quoted above were available now, it would satisfy only 9% of current demand. Property Week November 2013 We believe it is realistic for numbers of international students in higher education to grow by 15%-20% over the next five years there is no cap on the number of students who can come to study in the UK and no intention to introduce one. International Education: Global Growth and prosperity July 2013 Department for Business, Innovation and Skills 8

9 FREEHOLD SALE: Guide price of 4.2 million. FURTHER DETAILS Total current rent received 72,000 per annum exclusive VAT: Is applicable to the sale Full planning details available on request. FOR FURTHER INFORMATION PLEASE CONTACT Shaun Wolfe Island Studios 22 St Peters Square Hammersmith London W6 9NW Misrepresentation Act 1967: These particulars are believed to be correct but their accuracy is not guaranteed and they do not form part of any contract. Unless otherwise stated, all prices and rents are quoted exclusive of VAT

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