Cricklewood

Type: Stretch senior loan – planning

Loan amount: £35.2m

Term: 2 years

Location: Cricklewood

Loan secured against a 6.8-acre site in Cricklewood, North West London, currently comprising 86,000 sq ft (GIA) of retail warehousing (across three units) and 470 car parking spaces. The units are let to three tenants (B&Q, Tile Depot and Poundstretcher) on leases expiring in August 2020.

ASK’s client intends to obtain planning permission for a residential-led mixed-use scheme comprising in excess of 1,200 residential units alongside an element of commercial space.

Site is considered to have significant redevelopment potential and is one of the most prominent remaining development sites within the London Borough of Barnet.

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