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83B, Tolpits Lane, Watford, WD18 6NT

A single storey building arranged as a doctors surgery
Location: 83B Tolpits Lane, Watford, WD18 6NT
Property type: Flat, Healthcare, Other, Residential, Other Property Types & Opportunities
Tenure type: For Sale Freehold
Tenancy type: Investment
** UNSOLD – AVAILABLE AT £875,000 **

Of interest to investors and developers. Located within a densely populated residential area within easy reach of Watford town centre, a doctors surgery with planning permission for a replacement doctors surgery and nine flats. Currently let to Hertfordshire Primary Care Trust until 2022.

Watford, with a population of some 76,000, is located some 17 miles north-west of Central London
Located on Tolpits Lane, on the junction with Charlock Way
Located adjacent to a shopping parade and benefits from close proximity to Westfield Academy Secondary School and Westfield Community Sports Centre
The property is located in a densely populated residential area, approximately 1 mile south-west of Watford town centre
Good motor links via the M25
Watford Junction Rail
A single storey building arranged as a doctors surgery
The property benefits from car parking on site
Ground Floor – Doctors Surgery 202 sq m (2,174 sq ft)
Let to Hertfordshire Primary Care Trust for a term of 15 years from 1st April 2007 at a current rent of £16,375 per annum.
The lease provides for rent reviews every third year of the term and contains full repairing and insuring covenants. The property has been sublet and is trading as Holywell Surgery. There is an outstanding rent review which offers the potential for a rental uplift.
Planning permission (Ref: 17/00186/FUL) was granted by Hertfordshire County Council on 30th May 2017 for the demolition of the existing doctors surgery, erection of a replacement doctors surgery, and erection of 9 residential flats (2 x one bedroom and 7 x two bedroom).
VAT is applicable to this lot.
Total Current Rent £16,375 per annum
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