16 & 18 Beech Road St Albans Hertfordshire AL3 5AS

  • 16 & 18 Beech Road<br>St Albans<br>Hertfordshire<br>AL3 5AS

16 & 18 Beech Road
St Albans
Hertfordshire
AL3 5AS

Freehold Retail and Residential Investment

  • Comprises a shop/take-away, a large 3-bed maisonette and vacant rear store
  • Shop let to Soar Investments Ltd (t/a Pizza Hut) on renewed lease expiring June 2033 (No breaks)
  • Maisonette above let on recently signed lease
  • Approximately 2,206 sq ft
  • VAT-free investment
  • Well located in established retail parade in predominantly residential area
  • Nearby occupiers include Tesco Express, Majestic Wines, Shell Garage and a number of independent traders within the parade
  • Lot
    21
  • Auction
    9th May 2024
  • Rent
    £50,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £625,000
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

Freehold Retail and Residential Investment

  • Comprises a shop/take-away, a large 3-bed maisonette and vacant rear store
  • Shop let to Soar Investments Ltd (t/a Pizza Hut) on renewed lease expiring June 2033 (No breaks)
  • Maisonette above let on recently signed lease
  • Approximately 2,206 sq ft
  • VAT-free investment
  • Well located in established retail parade in predominantly residential area
  • Nearby occupiers include Tesco Express, Majestic Wines, Shell Garage and a number of independent traders within the parade
  • Lot 21
  • Auction 9th May 2024
  • Rent £50,500 per Annum Exclusive
  • Status Sold
  • Price £625,000
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
7 miles north of Watford, 20 miles north of Central London
Roads
A1, A414, A1057, A1081, M1 (Junction 8), M25 (Junction 22)
Rail
St Albans Railway Station (18 minutes to St Pancras)
Air
Luton Airport
Situation

The property is prominently located on the north side of Beech Road, close to its junction with Valley Road, in an established retail parade, situated in a predominantly residential area. Nearby occupiers include Tesco Express, Majestic Wines, Shell Garage and a number of independent traders within the parade.

Tenure

Freehold.

Location
Miles
7 miles north of Watford, 20 miles north of Central London
Roads
A1, A414, A1057, A1081, M1 (Junction 8), M25 (Junction 22)
Rail
St Albans Railway Station (18 minutes to St Pancras)
Air
Luton Airport
Situation

The property is prominently located on the north side of Beech Road, close to its junction with Valley Road, in an established retail parade, situated in a predominantly residential area. Nearby occupiers include Tesco Express, Majestic Wines, Shell Garage and a number of independent traders within the parade.

Tenure

Freehold.

Description

The property comprises a shop/take-away arranged on the ground floor and a separately-acessed 3-bed maisonette arranged on the first and second floors. The property benefits from a storage outbuilding to the rear of the property, offered vacant.

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 shop/take-away arranged on the ground floor and a separately-acessed 3-bed maisonette arranged on the first and second floors. The property benefits from a storage outbuilding to the rear of the property, offered vacant.

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 sq m (1)
Floor Areas
(Approx sq ft) (1)
Tenant Term Rent p.a.x. Rent Review
Ground Take-Away/Ancillary
96.82
(1,042)
SOAR INVESTMENTS LTD (t/a Pizza Hut) 10 years from 16/06/2023
£26,500
16/06/2028
First/Second Residential - 3-bed maisonette
98.00
(1,055)
NEW MAYFAIR ESTATES LTD 3 years from 18/04/2024 (2) at £2,000 pcm
£24,000
-
Outbuilding Ancillary/Store
10.13
(109)
VACANT -
-
-
Total  
204.95
(2,206)
   
£50,500
 

(1) Areas provided by VOA (www.tax.service.gov.uk/business-rates)
(2) The lease is subject to a mutual option to determine at the expiry of the first year.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Brochure
    Updated Date
    13.05.24
    File Size
    4 MB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 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
Henry JohnHenry John +44 (0)20 7034 4860 +44 (0)7876 884 320henry.john@acuitus.co.uk
Seller's Solicitors
Spencer West LLP Longbow House 20 Chiswell Street
London
EC1Y 4TW
Jaymini Ghelani (0)20 7925 8080Jaymini.Ghelani@spencer-west.com

Useful Links

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

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