16 & 18 Beech Road St Albans Hertfordshire AL3 5AS

16 & 18 Beech Road
St Albans
Hertfordshire
AL3 5AS

Freehold Retail and Residential Investment

Comprises a shop/take-away, a large 3-bed maisonette and vacant rear store
Shop let to Soar Investments Ltd (t/a Pizza Hut) on renewed lease expiring June 2033 (No breaks)
Maisonette above let on recently signed lease
Approximately 2,206 sq ft
VAT-free investment
Well located in established retail parade in predominantly residential area
Nearby occupiers include Tesco Express, Majestic Wines, Shell Garage and a number of independent traders within the parade

Lot
21
Auction
9th May 2024
Rent
£50,500 per Annum Exclusive
Status
Sold
Price
£625,000
Auction Venue
Live Streamed Auction
Octopus Bridging Loan
To be confirmed

Interested?

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Freehold Retail and Residential Investment

Comprises a shop/take-away, a large 3-bed maisonette and vacant rear store
Shop let to Soar Investments Ltd (t/a Pizza Hut) on renewed lease expiring June 2033 (No breaks)
Maisonette above let on recently signed lease
Approximately 2,206 sq ft
VAT-free investment
Well located in established retail parade in predominantly residential area
Nearby occupiers include Tesco Express, Majestic Wines, Shell Garage and a number of independent traders within the parade

Lot 21
Auction 9th May 2024
Rent £50,500 per Annum Exclusive
Status Sold
Price £625,000
Sector
High Street Retail, Residential
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 7 miles north of Watford, 20 miles north of Central London
Roads: A1, A414, A1057, A1081, M1 (Junction 8), M25 (Junction 22)
Rail: St Albans Railway Station (18 minutes to St Pancras)
Air: Luton Airport

Situation

The property is prominently located on the north side of Beech Road, close to its junction with Valley Road, in an established retail parade, situated in a predominantly residential area. Nearby occupiers include Tesco Express, Majestic Wines, Shell Garage and a number of independent traders within the parade.

Tenure

Freehold.

Location

Miles: 7 miles north of Watford, 20 miles north of Central London
Roads: A1, A414, A1057, A1081, M1 (Junction 8), M25 (Junction 22)
Rail: St Albans Railway Station (18 minutes to St Pancras)
Air: Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises a shop/take-away arranged on the ground floor and a separately-acessed 3-bed maisonette arranged on the first and second floors. The property benefits from a storage outbuilding to the rear of the property, offered vacant.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas (Approx sq ft) (1)	Tenant	Term	Rent p.a.x.	Rent Review
Ground	Take-Away/Ancillary	96.82	(1,042)	SOAR INVESTMENTS LTD (t/a Pizza Hut)	10 years from 16/06/2023	£26,500	16/06/2028
First/Second	Residential - 3-bed maisonette	98.00	(1,055)	NEW MAYFAIR ESTATES LTD	3 years from 18/04/2024 (2) at £2,000 pcm	£24,000	-
Outbuilding	Ancillary/Store	10.13	(109)	VACANT	-	-	-
Total		204.95	(2,206)			£50,500

(1) Areas provided by VOA (www.tax.service.gov.uk/business-rates)
(2) The lease is subject to a mutual option to determine at the expiry of the first year.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.