CamdenNewJournal

The independent London newspaper

A blot on the high street

Mystery of the Camden High Street 'unit' that’s been ‘To Let’ for the past six months

22 June, 2017 — By John Gulliver

Empty premises on Camden High Street under £1million apartments

IT’S a dreamland hot piece of property in the middle of Camden High Street – and yet it has stood with a forlorn “To Let” sign for the past six months.

The mystery of the apparently unlettable new shops has puzzled me for some time.

Are the rents demanded by the owners too high?

Roughly, they can reach more than £150,000 a year in neighbouring shops.

Or is there a fall in property lets?

I got to know the owner of the shop who sold it to make way for the new development, grossing several hundreds of thousands of pounds.

Rebuilt, I expected it would be let almost overnight.

If sold, the flats above it would have gone for up to £1million for a one-bedroom apartment.

The estate agent John D Wood has been trying to market it since the end of last year.

It has almost become a blighted spot in the high street.

Now, another agent – Bruce Commercial – has contacted me to suggest part of the “unit” is under offer.

Looking for a customer, Bruce says the “location” should appeal to a retailer “serving the local community rather than one looking to exploit the tourist route on the drag down to Camden Lock”.

But a “To Let” sign still looks down on passers-by.

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