Entirely let to Baleday Limited until November 2020 (no breaks)
Strategic location between town’s main Shopping Centre and Civic Centre next to Hemel Hempstead Bus Terminal
Future Development Potential (subject to consents)
Lot 44
Auction 27th March 2014
Rent £34,275 per Annum Exclusive
Status Sold
Price £200,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Joint LPA Receivers
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 Rail Station (26 mins to London Euston)
Air
Heathrow Airport, Luton Airport
Situation
The property is situated on the northern side of The Square within Hemel Hempstead centre in a strategic location between the town’s main shopping centre and the civic centre. The town’s bus terminal is situated next to the property with other nearby occupiers including Ladbrokes, Greggs, Cancer Research and Jennings Bet.
The Market Square area has been earmarked as one of Hemel Hempstead’s potential development sites in Dacorum Borough Council’s Hemel Hempstead Town Centre Masterplan.
Tenure
Virtual Freehold. Virtual Freehold. Held for a term of 999 years from 24th January 2003.
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 Rail Station (26 mins to London Euston)
Air
Heathrow Airport, Luton Airport
Situation
The property is situated on the northern side of The Square within Hemel Hempstead centre in a strategic location between the town’s main shopping centre and the civic centre. The town’s bus terminal is situated next to the property with other nearby occupiers including Ladbrokes, Greggs, Cancer Research and Jennings Bet.
The Market Square area has been earmarked as one of Hemel Hempstead’s potential development sites in Dacorum Borough Council’s Hemel Hempstead Town Centre Masterplan.
Tenure
Virtual Freehold. Virtual Freehold. Held for a term of 999 years from 24th January 2003.
Description
The property comprises an end of terrace ground floor double retail unit with frontage onto Market Square and a separate entrance to the side of the property providing access to a service road to the rear.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are
acting in respect of this sale without personal liability.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an end of terrace ground floor double retail unit with frontage onto Market Square and a separate entrance to the side of the property providing access to a service road to the rear.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are
acting in respect of this sale without personal liability.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
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
Review
Ground
Retail
85.20 sq m
(917.09 sq ft)
BALEDAY LIMITED (1)
10 years from 01/12/2010 until 30/11/2020 on a full repairing and insuring lease
£34,275 (2)
01/12/2015
Totals
85.20 sq m
(917.09 sq ft)
£34,275 (2)
(1) Baleday Limited is a wholly owned subsidiary of Praesepe Holdings Limited. Praesepe is the UK’s largest chain of adult gaming centres operating from a total of 170 adult gaming centres, bingo clubs and family entertainment centres in 100 towns and cities throughout Great Britain (Source: www.cashinogaming.com 20/02/2014) (2)For the purposes of clarification the current rent is £30,000 p.a.x, rising to £34,274.60 p.a.x. in December 2015. The Seller has agreed to adjust the completion monies so that the property effectively produces £34,275 p.a.x. from completion of the sale.
Contacts
Seller's Solicitors
Wedlake Bell Solicitors 52 Bedford Row London WC1R 4LR
