We’ve known for some time that 156 West End Lane – aka “The Travis Perkins building” would be up for sale. Camden council, which owns the site, have decided to sell it to raise money. The council offices that it used to house have been relocated and aside from the ground floor showroom and supplies shop, the building is empty.
Deloitte’s real estate division is acting for Camden and has published a short brochure asking for tenders for the site. It’s being pitched as a residential development opportunity.
|The site is larger than one might imagine
(taken from Deloitte’s brochure)
The brochure makes clear, however, that Travis Perkins has an existing lease for the premises.
“Travis Perkins operate a builders merchants from part ground floor of the site, which includes a timber yard at the rear. Travis Perkins have been granted a new lease dated 20 May 2013, with landlord break provisions enabling vacant possession at the earliest date of 1 December 2016.”
One might reasonably assume that a developer could buy Travis Perkins out of its lease, except that a) Travis Perkins is known to be very keen to stay on, and b) the planning process being what it is, it’s highly unlikely that any work would start on the site much before late 2015 anyway and if property prices continue to rise a developer might decide to sit it out. There was a rumour that Travis Perkins might want to buy the site itself to ensure its survival, so it will be interesting to see whether it submits a tender.
The point, however, is that while the floors of office space above Travis Perkins sit empty, Camden council is paying for an empty building. More than £5,200 in fact.
It’s hard to imagine that some of that cost couldn’t be recouped while the building stands empty. It’s office space, so perhaps a floor could be given over to flexible working space – a mini West Hampstead Hub for home workers to collaborate, or even just get out of the house, perhaps? I’m sure the collective brains of the area could come up with some other creative solutions.
It seems inevitable that eventually the building will be knocked down and rebuilt as flats. Deloitte’s brochure points out
The site offers greatest potential for higher scaled development to the western frontage (i.e. West End Lane) and to the south towards the railway lines, with a transition in scale towards the more sensitive residential interface to the north (Lymington Road).
Although it’s not the most loved building on West End Lane, one resident told me at the weekend that it seemed madness to knock it down and rebuild, when surely it could just be converted into flats. It will be interesting to see the general public reaction to this – the first major redevelopment as opposed to brownfield/greenfield proposal in the area for some time.
In last year’s survey of local architecture, the red brick building came bottom of the ranking. Two people loved it, 8 were indifferent, and 74 hated it. One of the things people didn’t like was the height, but it’s hard to envisage that whatever replaces it will be smaller. I hope that if it is redeveloped and Travis Perkins has to leave that any ground-floor frontage will be kept as smaller units to encourage a more diverse range of shops.
Tenders are due in by the 19th of September – in case you’re interested.