Comprises shop on ground and lower ground floors t/a Keech Hospice Care
Self-contained 3 bed maisonette on first and second floors
Shop let on a lease until December 2033 (subject to option)
Tenant of commercial area has been in occupation since 2013
Affluent and popular London commuter town
Busy retail parade location on Watling Street (A5183) close to Radlett Railway Station
VAT Free Investment
Lot 2
Auction 9th July 2024
Rent £43,500 per Annum Exclusive
Status Sold
Price £668,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
2 miles north east of Watford, 12 miles north west of Central London
Roads
M1, A1, M25
Rail
Radlett Railway Station (Thameslink)
Air
London Luton Airport, London Heathrow Airport, London Gatwick Airport
Situation
Radlett is an affluent and historic Hertfordshire town popular amongst commuters, with Radlett Railway Station providing a Thameslink service to London St. Pancras in just 26 minutes. Nearby occupiers include Tesco Express, Wenzel's, Pizza Express together with an eclectic mix of local retailers and restaurants. The property is located some 100 metres from Radlett Station on the eastern side of Watling Street (A5183), a busy arterial route between St. Albans and London and benefits from on street parking immediately outside.
Tenure
Freehold.
Location
Miles
2 miles north east of Watford, 12 miles north west of Central London
Roads
M1, A1, M25
Rail
Radlett Railway Station (Thameslink)
Air
London Luton Airport, London Heathrow Airport, London Gatwick Airport
Situation
Radlett is an affluent and historic Hertfordshire town popular amongst commuters, with Radlett Railway Station providing a Thameslink service to London St. Pancras in just 26 minutes. Nearby occupiers include Tesco Express, Wenzel's, Pizza Express together with an eclectic mix of local retailers and restaurants. The property is located some 100 metres from Radlett Station on the eastern side of Watling Street (A5183), a busy arterial route between St. Albans and London and benefits from on street parking immediately outside.
Tenure
Freehold.
Description
The property comprises a shop arranged over ground and lower ground floors together with a self contained 3 bed maisonette on the upper two floors. The residential accommodation is accessed from the rear.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a shop arranged over ground and lower ground floors together with a self contained 3 bed maisonette on the upper two floors. The residential accommodation is accessed from the rear.
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
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground Lower Ground
Retail Ancillary
56.30 58.20
(606) (626)
KEECH HOSPICE CARE (1)
10 years from 05/12/2023 (2)
£28,500
05/12/2028
First Second
3 bed maisonette
74.00
(797)
INDIVIDUALS
12 month AST from 21/08/2023 (3)
£15,000
-
Total Approximate floor area
188.50
(2,029) (4)
£43,500
(1) Keech Hospice Care is a registered Charity under number 1035089 who provide free, specialist care for adults in Luton and Bedfordshire, and children from Bedfordshire, Hertfordshire and Milton Keynes living with a life-limiting illness. Keech Hospice Care currently trade from 38 stores across three counties (www.keech.org.uk). (2) The lease provides for a Tenant option to determine the lease on 05/12/2028 upon serving 6 months written notice. (3) A rental deposit of £650 is held by the Seller. (4) The commercial floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk), with the residential floor areas being provided by the Seller.
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.
