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RIB’s Investment team were mandated with the sale of this prime Camden freehold property, with development potential located at 40-42 Parkway, NW1.
Camden is one of London’s key submarkets, famous for its counterculture and independent spirit. Parkway forms one of the main commercial thoroughfares in Camden and is well known for its vibrant food and beverage scene.
About the property
There are a number of notable occupiers located on the same street as the property including Co-Operative Food, Caffé Nero, Côte Brasserie, and Whole Foods in addition to a number of popular independent operators. The street benefits from high pedestrian footfall owing to its situation between Regents Park and Camden Town. The subject Camden property is located in a prime position on Parkway, close to the junction with Arlington Road.
The ground floor of the property was let on an FRI lease to Strada Trading Limited (trading as 40 Zero) for a term of 45 years expiring in March 2041.
The upper parts comprised residential accommodation (C3) over first and second floor levels forming two self-contained apartments.
The marketing process generated strong interest from both private and institutional buyers and a sale was ultimately agreed and completed to a Fund purchaser. This was one of 4 assets on Parkway NW1 that RIB had transacted on in the last 5 years demonstrating our expertise within the Camden area.