Riverside House, 4-18A Amwell End Ware Hertfordshire SG12 9HW

Riverside House, 4-18A Amwell End
Ware
Hertfordshire
SG12 9HW

Substantial Freehold Retail and Residential Parade Investment

Unbroken parade comprising 8 retail units with residential upper parts
Separate snooker hall located at Riverside House
Totalling approximately 1,388.68 sq m (14,948 sq ft), with car parking
Approximate site area 0.21 hectares (0.52 acres)
Active management/redevelopment potential (subject to consents)
Midway between Ware Railway Station and Ware High Street
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
24
Auction
23rd March 2016
Rent
£169,480 per Annum Exclusive
Status
Sold
Price
£2,655,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Receivers CBRE

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Substantial Freehold Retail and Residential Parade Investment

Unbroken parade comprising 8 retail units with residential upper parts
Separate snooker hall located at Riverside House
Totalling approximately 1,388.68 sq m (14,948 sq ft), with car parking
Approximate site area 0.21 hectares (0.52 acres)
Active management/redevelopment potential (subject to consents)
Midway between Ware Railway Station and Ware High Street
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 24
Auction 23rd March 2016
Rent £169,480 per Annum Exclusive
Status Sold
Price £2,655,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Receivers CBRE

Property Information

Location

Miles: 8 miles east of Welwyn Garden City, 10 miles south-west of Bishops Stortford, 20 miles north of Central London
Roads: A10, A414, A1(M) (Junction 4), M11 (Junction 7), M25 (Junction 25)
Rail: Ware Railway Station
Air: London Stansted Airport, London Luton Airport

Situation

Ware is an attractive Hertfordshire town situated 20 miles north of Central London. The property is prominently situated on the west side of Amwell End, a busy route between the High Street to the north and Ware Railway Station to the south. Nearby occupiers include Costa Coffee, Martin’s Convenience Store, Barclays and Lloyds Banks and a number of independent retailers.

Tenure

Freehold.

Location

Miles: 8 miles east of Welwyn Garden City, 10 miles south-west of Bishops Stortford, 20 miles north of Central London
Roads: A10, A414, A1(M) (Junction 4), M11 (Junction 7), M25 (Junction 25)
Rail: Ware Railway Station
Air: London Stansted Airport, London Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial unbroken parade of eight retail units (arranged as seven shops) with seven self-contained residential flats on the first and second floors as well as a snooker hall located at Riverside House. The property benefits from a site area of 0.21 hectares (0.52 acres) and car parking to the rear.

Six week completion

Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound toaccept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Review/ (Reversion)
4	Ground	Retail/Ancillary	60.39 sq m	(650 sq ft)	THE BREAD BIN (BAKERS) LIMITED	15 years from 24/06/2008	£12,500	24/06/2018 (23/06/2023
6	Ground	Retail/Ancillary	81.38 sq m	(876 sq ft)	BEACHES AND CREAM TANNING & BEAUTY LIMITED	5 years from 31/05/2012	£13,000 (1)	(30/05/2017)
8 & 16a	Ground First/ Second	Retail/Ancillary Flat	81.47 sq m Not Measured	(877 sq ft)	INDIVIDUALS (t/a Occasions Florist)	Approx 26 years from 24/06/1991	£19,500	28/07/2017 (29/07/2019)
10	Ground	Retail/Ancillary	77.11 sq m	(830 sq ft)	INDIVIDUALS (t/a The Coffee Bar)	12 years from 06/04/1998	£11,900	(05/04/2010)
10a	First/ Second	Flat	60.57 sq m	(652 sq ft)	INDIVIDUALS	AST - 12 months from 07/09/2013	£6,900	Holding over
10b	First/ Second	Flat	60.57 sq m	(652 sq ft)	INDIVIDUAL	AST - 12 months from 09/09/2015	£7,500	(08/09/2016)
12	Ground	Retail/Ancillary	77.11 sq m	(830 sq ft)	LITTLE ANGELS NURSERIES LIMITED ON ASSIGNMENT (t/a Carnival)	10 years from 30/08/2006	£13,800	28/08/2016 29/08/2016)
12a	First/ Second	Flat	60.57 sq m	(652 sq ft)	INDIVIDUAL	AST - 12 months from 18/11/2013	£6,900	Holding over
12b	First/ Second	Flat	60.57 sq m	(652 sq ft)	INDIVIDUAL	AST - 12 months from 30/01/2016	£7,980	(29/01/2017)
14-16, 14a	Ground First/ Second	Retail/Ancillary Flat	154.31 sq m Not Measured	(1,661 sq ft)	A.F. BLAKEMORE AND SON LIMITED (2) (t/a Spar)	15 years from 04/03/1998	£29,500	Holding over
18 & 18a	Ground First/ Second	Retail Flat	73.21 sq m Not Measured	(788 sq ft)	INDIVIDUAL (t/a Andrews Fish Bar)	31 years from 24/06/1991	£18,000	24/06/2017 (23/06/2022)
Riverside House	First & Second	Leisure	541.42 sq m	(5,828 sq ft)	POCKETS SNOOKER & SOCIAL CLUB LIMITED	20 years from 18/10/1993 (3)	£22,000	(17/10/2013)
Totals			1,388.68 sq m	(14,948 sq ft)			£169,480

NB. The residential rents stated above have been annualised.
(1) The seller is holding a £3,250 rent deposit.
(2) For the year ending 26th April 2015, A.F. Blakemore and Son Limited reported a turnover of £1,275,954,000, pre-tax profits of £9,011,000 and a total net worth of £62,838,000. (Source: Experian Group 29/02/2016)
(3) A new lease to Pockets Snooker & Social Club Limited has been agreed for a term of 5 years from 25th December 2015 at a rent of £11,000 p.a.x for the first floor only. The lease is in solicitors hands and due to complete shortly.