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Although there's nothing in Colindale the local tube station is right in the centre, connecting to the Northern line taking you straight to central London. There are also many buses which run through, including the 186 which takes you to Brent Cross Shopping Centre. The cost of living isn't bad really, it depends how you live, for me I don't really spend anything much different to where I'm home in Somerset. There are a lot of food outlets in Colindale a subway, mcdonalds, and KFC, a few restaurants (sit down Chinese, Anglo Italian, and a nice pub with steaks and burgers) it all just depends what you're looking for.