TYPERetail, Mixed use, Flat, General Retail, Retail - High Street, Leisure Property, Land, Other Property Types & Opportunities, Residential, Licensed & Leisure, Commercial Land
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON25th November 2022
> Strong-yielding mixed-use freehold building offered for sale > The property is located in the heart of Borehamwood, just 500 feet from Elstree & Borehamwood Railway Station with trains travelling into Kings Cross in 25 minutes > A unique freehold building comprising 4 x retail units on the ground floor, 6 x newly converted 1-bed apartments and 10 x self-contained HMO units on the first/second floor > 75% of the commercial space is let to Plumbco UK Limited with the remaining unit being let to EWA Babenczuk trading as Lost Sock Dry Cleaners > The building is fully-let > Total current income of £219,902 per annum (Residential: £176,403 & Commercial: £43,500) > The HMO units are split into two sections (1 x 4-room & 1 x 6-room) - the 6-room HMO benefits from an HMO license and it is our understanding that the 4-room HMO does not require a license > There is an undercroft providing pedestrian & vehicular access to the rear including off-street parking
Further information is available at www.glpg.co.uk/properties/theobaldstreet/ - data room access code: BOREHAMWOOD (case sensitive)
The property is for sale at the forthcoming Allsop Auction on 15th December 2022 (Lot No. 53), unless sold prior, at a Guide Price of £2,800,000+ subject to contract.
Based on the guide price, a purchase at this level would reflect a NIY of 7.37% after allowing for purchaser costs of 6.5%.
Further information can also be found via the Allsop online catalogue (Lot No. 53).
If you have any questions or if you would like to arrange an inspection, please contact: