£1,850,000 Guide Price
FREEHOLD INCOME PRODUCING INVESTMENT OPPORTUNITY FOR SALECOMPRISING TWO COMMERCIAL & ONE RESIDENTIAL PART – WITH POTENTIAL FOR FUTURE REDEVELOPMENT (SUBJECT TO NEGOTIATING VACANT POSSESSION & PLANNING PERMISSION).
Situated along Shenley Road, close to the junction with Elstree Way, the subject properties are conveniently situated for the shopping and transport facilities of Borehamwood.
The detached building fronting Shenley Road is arranged as offices occupying the ground floor with a separate self-contained residential flat above. To the rear of the site is a modern, purpose-built day nursery with car parking.
All 3 elements are currently subject to lease – current combined income soon to be £116,300 PAX (See details overleaf)
OFFERS INVITED FOR THE FREEHOLD
GROUND FLOOR OFFICE
The ground floor has been extended by way of a single storey extension across the rear, and the offices currently occupy the entire ground floor area, aside from a small entrance lobby with stairs rising to the first floor flat – accessed from the front.
The unit is configured with an open plan office/reception to the rear, and with 4 further offices, kitchenette & WCs.
Excluding the 2 front bay windows, the unit has an approximate depth of; 34’9 and a width of 33’ (10.59m x 10.06m).
Gross Internal Area: Approximately 1,070ft² (99m²)
Business Rates: According to the VOA web site, the 2017 Rateable Value is £9,400. This is NOT the amount of rates payable. For the actual amount of rates payable, interested parties are advised to make their own enquiries with The Borough of Hertsmere.
Lease: 10-year lease from 2015.
Passing Rent: £17,500 PAX
FIRST FLOOR FLAT
Front entrance door leading to ground floor lobby with stairs rising to landing.; Gas centrally heated, double glazed.
Reception 15’ x 12’ (4.57m x 3.66m)
Kitchen 10’3 x 7’3 (3.12m x 2.21m)
Bedroom 1 12’ x 11’6 (3.36m x 3.51m)
Bedroom 2 9’6 x 9’ (2.90m x 2.74m )
Bathroom 6’6 x 5’9 (1.98m x 1.75m)
LEASE: AST – £13,800 PA.
NURSERY BUILDING TO REAR
Purpose-built nursery building with 6 ‘play rooms’, 2 offices, staff room, kitchen, servery & WCs on both levels (disabled WC on ground floor).
Gross Internal Area: Approximately 5,675ft² (527m²)
According to the VOA web site, the 2017 Rateable Value is £46,960. This is NOT the amount of rates payable. For the actual amount of rates payable, interested parties are advised to make their own enquiries with The Borough of Hertsmere.
Lease: The lease runs until 2033.
Passing Rent: £74,500 PAX from May 2021 increases to £85,000 PAX for the next 2 years.