The Story So Far

ALPHA HOUSE REGIS ROAD KENTISH TOWN LONDON NW5

The Property  This is a very good quality brick built single storey industrial building with ancillary offices totalling about 1,860 sqm/20,000 sqft. It was built by Alpha Jewels Ltd., a subsidiary of Swarovski of Austria, for their own occupation about 15 years ago to a quality which only an owner occupier could afford. For example, it is constructed in a single span so there are no interrupting columns and only clear space, it is high, has windows in the side elevations and so has an unusually large amount of natural light. The walls are brick and not the usual plastic coated steel, it sits on its own self-contained site with car parking and is surrounded by a security fence.

It was offered vacant to Navigator after Alpha Jewels decided to relocate to Morocco. We bought at £2m with the intention of letting the building for two or three years, most probably to a distributor, with a view to working up a design to allow the building to be used for offices/studios.

Why Buy?  A very rare high quality single storey industrial building in an excellent part of Central London with very good growth prospects and the added benefit of an alternative use. The decision to buy certainly proved to be the right one, given the margin achieved on sale.

Why Sell?  Navigator employed Alford Hall Monaghan Morris, leading architects, to come up with a scheme and Jackson Coles, quantity surveyors, to cost it. Whilst doing so Recloose Ltd approached us as they were interested in buying the building for occupation by their associate company, Morgan UK, fashion retailers. Recloose/Morgan made "an offer we couldn't refuse". We sold our contract onto Recloose prior to completion.

This was an unusual deal for us. However, the margin offered was so great that we found ourselves incapable of refusal.

Contact Us

Navigator Securities
15 Bruton Place
London W1J 6LU

Ivor A French FRICS
T 020 7529 5544
M 078 9999 1111
Email Ivor

David Coleman MRICS
T 020 7529 5540
M 07956 966 677
Email David