Sold prior to auction, for an undisclosed amount
By Order of the Receiver
Commercial investment comprising retail shops, offices and 4 x 2 bedroom flats
Addendum:
1) First Floor Office 2 is let at £3540 p.a. 2) First Floor Office 4, The Library Office and the First Floor of the Sitting Room have been let for 12 months from 11th January 2016 at a rent of £12,740 p.a. to Herts County Council (HCS St Albans Day Service). 3) First Floor Office 5 is let at £2520 p.a 4) The current Rent Reserved is £89,900 p.a.
Description/Location
The property comprises 3 retail units and 5 office rooms with 4 x 2 bedroom flats above totalling 4575 sq/ft (source EPC). We believe the rental income is higher than £73,740, for confirmation please refer to the legal pack for a schedule of leases.
| No. | Accommodation | Lease Term |
|---|---|---|
| Umar Barbers | Ground floor retail unit with kitchenette and w.c. Appoximately 411 sq/ft | £11,700 p.a |
| S Café & The Sitting Room | Two ground floor retail units totalling approximately 828 sq/ft plus additional room of approximately 469 sq/ft | £2400 p.a. |
| The Studio | Ground floor unit with kitchenette and w.c. Approximately 643 sq/ft | £11,700 p.a |
| First Floor Office 1 | Office of approximately 100 sq/ft | £3540 p.a. |
| First Floor Office 2 | Office of approximately 97 sq/ft | VACANT |
| First Floor Office 3 | Office of approximately 151 sq/ft | £1560 p.a. |
| First Floor Office 4 | Office of approximately 94 sq/ft | VACANT |
| First Floor Office 5 | Office of approximately 82 sq/ft | £2640 p.a. |
| Flat C | First floor flat. Entrance hall, L shaped living room/kitchen, 2 bedrooms one with en-suite shower room, separate bathroom | £10,500 p.a. |
| Flat D | First floor flat. Entrance hall, kitchen, living room, utility room, 2 bedrooms, bathroom | £9900 p.a. |
| Flat E | Second floor flat. Entrance hall, living room/kitchen, 2 bedrooms, bathroom | £10,200 p.a |
| Flat F | Second floor flat. Entrance hall, living room/kitchen, 2 bedrooms, bathroom | £9600 |
Tenure
Freehold
Joint Agent
Duncan Perry Estate Agents
Viewing
Rent
Current Rent Reserved: £73,740 pa
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*Guide Price & Reserves
Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.
Property Information
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