Six self contained units generating a gross rental income of £34,464 per annum

Located on the London Road Industrial Estate on the southern side of this historic market town with good road access to the A1m both North and South. About 6,064 Sq. Ft. Gross Internal Area divided into six self-contained units (referred to as sections of unit 4) which are let on commercial leases generating a gross rental income of £34,464 per annum with sections 3,4,5,6,7 being let separately on individual leases and sections 8 & 9 let together on the same lease. To the side of the building is parking for each section. Please note sections 1 and 2 of the unit (to the rear) have been sold separately. The current vendor is in the process of renewing the leases on sections 3,4 and 5. If completed before the auction then the rental income will rise to £41,744 Gross PA If it is not completed by auction day then there is potential for the new owner to conclude the lease renewals as per the redacted HoTs included in the legal pack. In the main most of the units are self-contained with kitchen and toilet facilities. Each unit is rated separately for Business rates. Development: Subject to obtaining all relevant permissions, and whilst no formal investigation has been undertaken the unit sits on a development with some multi storey buildings and as such it is our opinion there is potential for the addition of either 1 or 2 more floors.

Tenure

Freehold

Ground Floor

Six self contained units

Further Information

EPC Ratings Sections 3,4 & 5 rated E until June 2031 Section 6 rated E until October 2029 Section 7 rated D until June 2031 Sections 8 & 9 rated E until February 2029 Business Rates Section 3 £6,600 Section 4 £6,200 Section 5 £4,150 Section 6 £2,600 Section 7 £2,275 Sections 8 & 9 £4,400

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

North Hertfordshire District Council

Solicitors

Setfords (Guildford), Ref: Dilpesh Shah, Tel: 01462 412515

Offered in association with

Satchells Commercial

Additional Fees

Buyer's Premium - 1.2% inc VAT of the purchase price, payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.