Watford - Freehold Light Industrial Investment

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Investment Consideration:
Gross Initial Yield: 5.33%
Rental Income: £24,000 p.a.
VAT is NOT applicable to this property
Comprises mid-terrace light industrial unit t/a vehicle repair workshop
Let until 2028. No breaks. Rent review in July 2025 open market upward only
Situated in Mowat Industrial Estate, within short walk from Watford North Train Station and occupiers nearby including McDonalds, Tesco Express and more.

Property Description:
Comprises light industrial unit t/a vehicle repair workshop, providing the following accommodation and dimensions:
Ground Floor Workshop: 120 sq m (1,292 sq ft)
First Floor Office: 67 sq m (721 sq ft)
First Floor Store: 38 sq m (409 sq ft)
Second Floor Store: 29 sq m (312 sq ft)
Total area size: 254 sq m (2,734 sq ft)

Tenancy:
The property is at present let to Cousins Garage Ltd (with personal guarantee) for a term of 18 years from 12th July 2010 at a current rent of £24,000 per annum and the lease contains full repairing and insuring covenants. Rent review on 12.07.25 open market upward only. No breaks.

Location:
Mowat Industrial Estate is well located within a short distance of St Albans Road, the A41 North Western Avenue, the A4008 Stephenson Way and Junction 5 of the M1. Sandown Road runs broadly parallel with St Albans Road and links Bushey Mill Lane with Balmoral Road, close to the latter’s junction with St Albans Road. Access to the national motorway network is excellent with Junction 5 of the M1 approximately one mile away and Junction 19 and 20 of the M25, less than a 10-minute drive. The property is situated within short walk from Watford North Train Station and occupiers nearby including McDonalds, Tesco Express and more.