43 Marlowes Hemel Hempstead HP1 1LD

43 Marlowes
Hemel Hempstead
HP1 1LD

Prominent Restaurant Investment

  • Tenant trading as Mazza (Indian Restaurant)
  • New 20 year lease from June 2015 (No breaks)
  • Situated on Marlowes, close to several independent restaurants and offices
  • Popular Hertfordshire commuter town
  • VAT-free investment
  • Lot
    39
  • Auction
    13th July 2017
  • Rent
    £45,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £520,000
  • Sector
    Restaurant
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Prominent Restaurant Investment

  • Tenant trading as Mazza (Indian Restaurant)
  • New 20 year lease from June 2015 (No breaks)
  • Situated on Marlowes, close to several independent restaurants and offices
  • Popular Hertfordshire commuter town
  • VAT-free investment
  • Lot 39
  • Auction 13th July 2017
  • Rent
  • Status Sold
  • Price £520,000
  • Sector
    Restaurant
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
7 miles west of St Albans, 16 miles north-west of High Wycombe, 23 miles north of Central London
Roads
A41, M1 (Junction 8), M25
Rail
Hemel Hempstead Railway Station (26 mins to London Euston)
Air
Heathrow Airport, Luton Airport
Situation

The property is situated on the eastern side of The Marlowes, close to its junction with Midland Road. Marlowes is the town's principal retailing thoroughfare, with occupiers including Tesco Express, WH Smith, Poundland
and branches of Lloyds, HSBC and Halifax banks. Hemel Hempstead is a popular Hertfordshire commuter town, with excellent rail communications to London.

Tenure

Virtual Freehold. Held for a term of 999 years expiring 25th June 3013 at a peppercorn rent.

Location
Miles
7 miles west of St Albans, 16 miles north-west of High Wycombe, 23 miles north of Central London
Roads
A41, M1 (Junction 8), M25
Rail
Hemel Hempstead Railway Station (26 mins to London Euston)
Air
Heathrow Airport, Luton Airport
Situation

The property is situated on the eastern side of The Marlowes, close to its junction with Midland Road. Marlowes is the town's principal retailing thoroughfare, with occupiers including Tesco Express, WH Smith, Poundland
and branches of Lloyds, HSBC and Halifax banks. Hemel Hempstead is a popular Hertfordshire commuter town, with excellent rail communications to London.

Tenure

Virtual Freehold. Held for a term of 999 years expiring 25th June 3013 at a peppercorn rent.

Description

The property comprises a ground floor restaurant with ancillary accommodation on the basement floor, forming part of a larger building.

VAT

VAT is not 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 a ground floor restaurant with ancillary accommodation on the basement floor, forming part of a larger building.

VAT

VAT is not 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

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Ground
Basement
Restaurant/Ancillary
Ancillary
151.76 sq m
52.69 sq m
(1,634 sq ft)
(567 sq ft)
M UDDIN
t/a Mazza
Restaurant (1)
20 years from
05/06/2015 until
04/06/2035 on
effectively full
repairing and
insuring terms
£45,000 05/06/2020
and five
yearly
thereafter
Total  
204.48 sq m
(2,201 sq ft)
    £45,000  

(1) Mazza restaurant provides a uniquely styled environment offering the best in Indian and Bangladeshi cuisine (Source: www.mazza-restaurant.co.uk 01/06/2017). A rent deposit of £20,000 is held by the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    01.11.19
    File Size
    528 KB
    View PDF
  • Site Plan
    Updated Date
    01.11.19
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Blake Morgan 6 New Street Square
London
EC4A 3DJ
Euan Mitchell 02070 145 263euan.mitchell@blakemorgan.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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