89-93 St. Peters Street St Albans Hertfordshire AL1 3EN
89-93 St. Peters Street St Albans Hertfordshire AL1 3EN
Prominent Virtual Freehold Retail/Showroom Investment in Affluent Hertfordshire City
Large triple-fronted premium showroom let to Zoohause Limited - a boutique designer furniture outlet
New 10 year lease from October 2023 (subject to option)
Approximately 3,738 sq ft plus large car park/delivery yard to rear
Prominent corner location in St Albans, on the roundabout junction of St Peters Street and Catherine Street and 600m from St Albans City Station
Occupiers in St Albans include Marks & Spencer, Tesco Express, Boots the Chemist, Superdrug, Five Guys, Joe & The Juice, Caffè Nero, Pret A Manger, Itsu, Hotel Chocolat, Slug and Lettuce and JD Wetherspoon
Prominent Virtual Freehold Retail/Showroom Investment in Affluent Hertfordshire City
Large triple-fronted premium showroom let to Zoohause Limited - a boutique designer furniture outlet
New 10 year lease from October 2023 (subject to option)
Approximately 3,738 sq ft plus large car park/delivery yard to rear
Prominent corner location in St Albans, on the roundabout junction of St Peters Street and Catherine Street and 600m from St Albans City Station
Occupiers in St Albans include Marks & Spencer, Tesco Express, Boots the Chemist, Superdrug, Five Guys, Joe & The Juice, Caffè Nero, Pret A Manger, Itsu, Hotel Chocolat, Slug and Lettuce and JD Wetherspoon
Lot 6
Auction 9th July 2024
Rent £90,000 per Annum Exclusive (3)
Status Available
Guide* £875,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
7 miles north of Watford, 23 miles north of Central London
The property is very prominently situated in central St Albans, an affluent London commuter City, on the north side of St Peters Street (A1081) at its busy junction with Hatfield Road and Catherine Street. The property benefits from being approximately 600 metres from St Albans City Railway Station. Occupiers in St Albans include Marks & Spencer, Tesco Express, Boots the Chemist, Superdrug, Five Guys, Joe & The Juice, Caffè Nero, Pret A Manger, Itsu, Hotel Chocolat, Slug and Lettuce and JD Wetherspoon.
Tenure
Virtual Freehold. for a term of 999 years from completion at a peppercorn rent.
Location
Miles
7 miles north of Watford, 23 miles north of Central London
The property is very prominently situated in central St Albans, an affluent London commuter City, on the north side of St Peters Street (A1081) at its busy junction with Hatfield Road and Catherine Street. The property benefits from being approximately 600 metres from St Albans City Railway Station. Occupiers in St Albans include Marks & Spencer, Tesco Express, Boots the Chemist, Superdrug, Five Guys, Joe & The Juice, Caffè Nero, Pret A Manger, Itsu, Hotel Chocolat, Slug and Lettuce and JD Wetherspoon.
Tenure
Virtual Freehold. for a term of 999 years from completion at a peppercorn rent.
Description
The property comprises a large showroom arranged on the ground floor, forming part of a larger building, plus large car park/delivery yard to rear.
The property has an extensive triple frontage of 39.1 metres to the busiest roundabout in St Albans and also benefits from ceiling heights ranging between 3 and 3.5 metres.
VAT
VAT is 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
The property comprises a large showroom arranged on the ground floor, forming part of a larger building, plus large car park/delivery yard to rear.
The property has an extensive triple frontage of 39.1 metres to the busiest roundabout in St Albans and also benefits from ceiling heights ranging between 3 and 3.5 metres.
VAT
VAT is 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
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Rent Review
Ground
Retail/Ancillary
347.27
(3,738)
ZOOHAUSE LIMITED (1)
10 years from 25/10/2023 (2)
£90,000 (3)
25/10/2028
Total
347.27
(3,738)
£90,000
(1) Zoohause Limited are a boutique furniture designer that offer an eclectic mix of furniture pieces. They were established in 2016 and now trade from two different locations, in St Albans and Woburn (www.zoohause.co.uk). (2) The lease is subject to a tenant option to determine on 25/10/2028. (3) The tenant is benefitting from half rent from 25/10/2023 until 24/10/2024. The Seller will pay the Buyer the rent that would have been due in the absence of the period of half rent. Therefore the property will effectively produce £90,000 per annum exclusive from completion of the sale. The landlord holds a rent deposit equivalent to 6 months rent.
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.
