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Agent's details

Commercial Investment Opportunity in St Albans

For sale: £9,000,000.00|Retail, Retail Park, Other, Other Property Types & Opportunities

Property details

FOR SALE£9,000,000.00
ADDRESSAlbert Bygrave Retail Park, North Orbital Road, St Albans, AL2 1DL
TYPERetail, Retail Park, Other, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON8th May 2024

Description

Commercial investment with asset management potential in St Albans, comprising the front
element of Albert Bygrave Retail Park.

The site lies in a prominent position, situated on the North Orbital Road, consisting of a multi-let retail park which is being sold with the benefit of existing income.

The site is arranged as ten units with an additional two units (C5 and C9) sold off on long leases.

There are approx. 140 car parking spaces on site, including EV charging for 6 cars. The site is regulated by a ANPR parking system, run by Smart Parking, which records over 20,000 vehicle movements per month.

The North Orbital Road (A414) has over 100,000 vehicles pass the site per day.

Comprehensive CCTV coverage is installed across the entire site.

The current annual income is £533,604 per annum, with an ERV of approx. £765,000 per annum by 2033.

There is a potential for significant rental uplift through a combination of fixed increases within the existing leases, letting vacant units (C2/C3), and longer-term asset management.

There may be an opportunity for future redevelopment of the site, subject to obtaining the necessary planning consents.

Location

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Location: Albert Bygrave Retail Park, North Orbital Road, St Albans, AL2 1DL

Watford (7.0 miles)

High Barnet (7.4 miles)

Stanmore (7.7 miles)

Park Street (1.4 miles)

St Albans (1.6 miles)

St Albans Abbey (1.8 miles)

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