icons_size_white icons_size

AGENT'S DETAILS


Prime Freehold Retail Investment - Stevenage-Potential to develop upper parts into residential STPP

For sale: £1,300,000.00|6916 Sq Ft|Residential, Retail - High Street, Warehouse, Retail, Industrial

PROPERTY DETAILS

FOR SALE£1,300,000.00
SIZE6916 Sq Ft
ADDRESSThe Carphone Warehouse, 73 Queensway, Stevenage, Hertfordshire, SG1 1DN
TYPEResidential, Retail - High Street, Warehouse, Retail, Industrial
TENUREDevelopment Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON21st May 2020

DESCRIPTION

ADDRESS: 69/73 Queensway, Stevenage SG1 1DN
• Well located in pedestrianised pitch
• Potential to develop upper parts into residential STPP
• Ideal SIPP/Commercial investment
• Shopping centre is being redeveloped see
https://stevenage-even-better.com/stevenage-regeneration-schemes/
• Close to Boots, Wilkinsons, Vodaphone, O2, Greggs and Costa Coffee

LOCATION
Stevenage has a residential population in excess of 81000 and is located 31 miles north of central London The town is adjacent to the A1(M) and benefits from its proximity to Luton Airport, and regular rail services to London’s Kings Cross Station
SITUATION
The property is located on the east side of the pedeestrianised Queensway, close to the junction with Town Square, in the heart of the city centre.
DESCRIPTION
The property comprises 3 commercial units on ground floor with two upper floors
ACCOMMODATION
69 Queensway-Ground floor 1800 sq. ft, First 323 sq. ft and Second floor 355 sq. ft Total 2478 sq. ft
71 Queensway-Ground floor 1110 sq. ft, First 355 sq. ft and Second floor 280 sq. ft Total 1745 sq. ft
73 Queensway-Ground floor 1100 sq. ft, First 355 sq. ft and Second floor 238 sq. ft Total 1693 sq. ft
Total : 6916 sq ft
TENANCY
• 69 Queensway- Let to CEX Limited for 10 years commencing 13 October 2018, with a tenants only option to break on 13/10/23, at a current rental of £44,500 pa on a Fully repairing and insuring lease
• 71 Queensway-Let to Tea Time Limited -Trading as Mad Hatter-for 10 years commencing 22 May 2012, at a current rental of £25,000 pa on a Fully repairing and insuring lease
• 73 Queensway- Let to Carphone Warehouse Limited for 10 years commencing 13 September 2010, at a current rental of £47,500 pa on a Fully repairing and insuring lease
COVENENT:
Carphone reported a turnover of £2125m, a pre-tax profit of £42.8m, and a net worth of £1142 million
CEX Limited reported a turnover of £81m, a pre-tax profit of £5,2m and a net worth of £6m
TOTAL RENT: £117,000 p.a. VAT: Applicable
PRICE: Offers in excess of £ 1,300,000 – 8.4% Net

LOCATION

Location: The Carphone Warehouse, 73 Queensway, Stevenage, Hertfordshire, SG1 1DN

Stevenage (0.3 miles)

Knebworth (2.5 miles)

Hitchin (4.4 miles)

close
What do you think of our website?
Complete our survey and
you could win £1000
Start here