Harpenden Rail (25 mins direct to London St Pancras International)
Air
Luton International Airport
Situation
Harpenden is a popular Hertfordshire town some 27 miles north-west of London. The property is situated approximately 1 mile from the town centre in a mixed residential and industrial area, strategically located close to the M1 (junctions 9 & 10) and A1(M) (junctions 4 & 6). Adjacent to the property is the new Lodge Park Waterside development, creating 67 one and two bedroom flats. The Allied Business Centre is also nearby with occupiers including Willis Publicity, Elliot Scientific and Boxer Systems.
Tenure
Freehold.
Location
Miles
5 miles north of St Albans, 27 miles north-west of central London
Harpenden Rail (25 mins direct to London St Pancras International)
Air
Luton International Airport
Situation
Harpenden is a popular Hertfordshire town some 27 miles north-west of London. The property is situated approximately 1 mile from the town centre in a mixed residential and industrial area, strategically located close to the M1 (junctions 9 & 10) and A1(M) (junctions 4 & 6). Adjacent to the property is the new Lodge Park Waterside development, creating 67 one and two bedroom flats. The Allied Business Centre is also nearby with occupiers including Willis Publicity, Elliot Scientific and Boxer Systems.
Tenure
Freehold.
Description
The property comprises three ground floor industrial units with mezzanine ancillary accommodation in units A and B & C. The mezzanine accommodation for units B and C have not been included in the floor areas. The property benefits from roller shutter doors, on-site parking for each unit and a secure yard area for units B and C. The site has an approximate area of 0.38 hectares (0.94 acres.) .
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises three ground floor industrial units with mezzanine ancillary accommodation in units A and B & C. The mezzanine accommodation for units B and C have not been included in the floor areas. The property benefits from roller shutter doors, on-site parking for each unit and a secure yard area for units B and C. The site has an approximate area of 0.38 hectares (0.94 acres.) .
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Gross Approx)
Tenant
Term
Rent p.a.x
Reviews
Unit A
Ground Mezzanine
Industrial Industrial
423.5 sq m 69.9 sq m
(4,559 sq ft) (752 sq ft)
EMMAUS ST ALBANS t/a Emmaus Furniture Re-Use (1)
15 years from 03/02/2015 until 02/02/2030 (2)
£35,000 (6)
03/02/2020 03/02/2025
Units B & C
Ground
Industrial
845.41 sq m
(9,100 sq ft)
A PLUS JOINERY LTD t/a Hertswood (3)
5 years from 29/09/2015 until 28/09/2020
£57,330 (6)
Unit D
Ground
Industrial
422.70 sq m
(4,550 sq ft)
WRIGHT TILES LIMITED t/a Just Tiles (4)
21 years 04/12/2006 until 03/12/2027 (5)
£28,250 (6)
Total
1,761 sq m
(18,961 sq ft)
£120,580
(1) Emmaus St Albans is a charity working to end homelessness. Established in the 1940s, Emmaus now have over 90 charity shops across the UK (Source: www.emmaus.org.uk 17/02/2017). (2) Under the terms of the lease, the current rent is £33,500 per annum with a fixed rental increase to £35,000 per annum in February 2018. The seller has agreed to adjust the completion monies so that the unit will effectively produce £35,000 per annum from completion of the sale. The lease provides a tenant option to determine on 03/02/2025. (3) Hertswood is a UK joinery manufacturer of bespoke conservatories and orangeries, hardwood windows and doors, with over 15 years experience. Hertswood is widely known to the trade as A Plus Joinery Ltd (Source: www.hertswood.com 17/02/2017). (4) Just Tiles are specialists in ceramic wall and floor tiles, domestic and contract fixing (Source: www.justtiles.com 17/02/2017). (5) The current lease is for a term of 11 years expiring 03/12/2017, although, in addition, a reversionary lease is in place from expiry of the current term until 02/12/2027 at a rent of £28,250 per annum. The seller has agreed to adjust the completion monies so that the unit will effectively produce £28,250 per annum from completion of the sale. (6) The seller holds a rental deposit for each unit.