Full Details
Location -
The property is located in on the well established Greycaine Industrial Estate in north Watford. There is easy access to both the the M1 (J5) which is 1.5 miles to the east and the M25 (J9&10) is approximately 2 miles away. Watford North train station is a few minutes walk away which provides trains to London Euston via Watford Junction in 26 minutes.
Description -
The unit comprises a mid-terrace industrial building constructed with brick elevations and profile steel cladding above which are used as a plumbing and heating trade counter. The unit includes offices, warehouse and trade counter to the ground floor with an extensive mezzanine floor providing offices and additional storage accommodation.
There is a large loading and car parking area to the front of the unit.
INVESTMENT SUMMARY
The premises are currently let to Tucker French Limited for a term of 10 years from 17th November 2015 at a passing rent of £43,000. The property will be sold subject to a new 20 year lease that will commence on 31st July 2025 at a passing rent of £63,000 per annum with five yearly upwards only rent reviews and five year tenant break options. The lease is inside the Landlord & Tenant Act 1954 Part II.
Accommodation -
The accommodation comprises the below areas measured on a gross internal area basis:
Ground Floor:
Warehouse & Trade Counter - 333.21 sq m / 3,586.70 sq ft
Mezzanine:
Offices & Stores - 228.04 sq m / 2,454.58 sq ft
Total: 561.25 sq m / 6,041.28 sq ft
Terms -
Our client seeks £895,000 for their freehold interest.
VAT is not applicable.
Rateable Value -
The Valuation Office indicates a Rateable Value as of 1st April 2023 of £38,500. Rate in the £ for 24/25 is 49.9p
Energy Performance Rating -
The EPC rating for this property is D-94.
Viewing -
By appointment with the Sole Agents Duncan Bailey Kennedy:
Tom Good / Phillip Mawby
tomg@dbk.co.uk / phillipm@dbk.co.uk
01494 450951