30/32 Howardsgate
Welwyn Garden City
Hertfordshire
AL8 6BJ

Well located Restaurant and Retail Investment

  • Let to Bill's Restaurants Limited and Sue Ryder
  • Bill's Restaurant let until 2039 (subject to option)
  • Prominent town centre location in affluent commuter town
  • Less than 100m from the Howard Shopping Centre
  • Strategic location between Sainsbury's and John Lewis
  • Lot
    24
  • Auction
    12/Feb/2020
  • Rent
    £115,000 per Annum Exclusive
  • Status
    Sold Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • 30/32 Howardsgate<br>Welwyn Garden City<br>Hertfordshire<br>AL8 6BJ
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
7 miles west of Hertford
24 miles north of Central London
Roads
A1(M) (Junctions 4, 5 & 6), A1000,
M25 (Junction 23)
Rail
Welwyn Garden City Railway Station
Air
London Luton Airport
Situation

Welwyn Garden City is an affluent commuter town approximately 20 miles north of London. The property is located in the heart of the town, occupying a prominent position on Howardsgate. The Howard Shopping Centre is less than 100m to the north-east and is adjacent to a busy mainline railway station providing regular services to London King's Cross in approximately 25 minutes. The Howard Shopping Centre houses occupiers including Marks & Spencer, H&M, Boots and WH Smith. Other nearby occupiers include Caffe Nero, Superdrug, Pizza Express, Prezzo and John Lewis.

Tenure

Virtual Freehold. 999 years held from Wigmores South Limited from 25th March 1988 at a peppercorn rent, plus share of the freehold. Please refer to the legal pack for further information.

Description

The property comprises two ground floor retail units, with unit 30 benefiting from an extensive return frontage onto Wigmores South. The two units share a service area, connecting to a rear communal service yard. The units form part of a larger building which does not form part of the sale.

VAT

VAT is applicable to this lot.

EPC

30 & 32 Howardsgate - Band C. Available to download at acuitus.co.uk

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
No. 30 GroundRetail/
Ancillary
214.61 sq m
(2,310 sq ft)
SUE RYDER (1)10 years
from
11/06/2014
until
23/06/2024
£50,000 
No. 32 GroundRestaurant/
Ancillary
305.65 sq m
(3,290 sq ft)
BILL’S RESTAURANTS
LIMITED (2)
on assignment from
Prezzo Plc (3)
t/a Bill’s
25 years
from
08/08/2014
until
07/08/2039
(4)
£65,00008/08/2024
and five
yearly
Total  
520.26 sq m
(5,600 sq ft)
  £115,000 

(1) Sue Ryder is a registered national charity providing health and social care services in local communities. Sue Ryder has 450+ shops across the UK (Source: www.sueryder.org 06/01/2020).
(2) Bill's Restaurant & Bar have 82 restaurants across the UK (Source: 08/01/2020).
(3) The property was assigned to Bill's Restaurants Limited on 26th September 2014 from Prezzo Plc, who have entered into an Authorised Guarantee Agreement (AGA).
(4) The lease provides a tenant option to determine on 08/08/2029, subject to 12 months' notice.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    22.01.20
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    22.01.20
    File Size
    880 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Forsters LLP 31 Hill Street
London
W1J 5LS
Ben Brayford 0207 863 8333ben.brayford@forsters.co.uk  Holly Badi 0207 399 4784holly.badi@forsters.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now