The property comprises a former detached office building of modern construction beneath a pitched roof arranged over ground and first floors totalling approximately 512 sq m (5,511 sq ft). The building has been converted under Permitted Development rights to provide x12 one bedroom apartments. Each of the apartments are arranged as a kitchen/living room, bedroom and bathroom with flats 3, 4, 9 and 10 benefitting from ensuite bathrooms as well as separate cloakrooms.
The flats have been finished to a high standard with wooden flooring, LED spotlights, Montpellier appliances (including integrated fridge freezer, washing machine, slimline dishwasher, oven and induction hobs), tiled bathrooms, underfloor heating and an intercom system. The larger flats that benefit from an ensuite also include a cloakroom with additional WC and wash hand basin.
Externally there are 14 car parking spaces on a site extending to approximately 0.11 hectares (0.26 acres).
Location
Watford lies approximately 18 miles north west of Central London and can be accessed via the A412, A41 and A441. It lies within the M25 motorway, from which it can be accessed via junctions 18, 19 and 20 and the M1 motorway lies approximately 5 miles to the east accessible at junction 5. The area has strong public transport links with nearby Watford Junction railway station providing direct rail services to London Euston with a journey time of approximately 20 minutes. Additionally, Croxley Underground Station lies less than a mile from the property and is serviced by the Metropolitan Line providing direct services to Baker Street and Aldgate and Rickmansworth railway station provides fast trains on the Metropolitan Line reducing journey time by about 15 minutes. Luton Airport and Heathrow Airport are approximately 18 miles to the north and 20 miles to the south respectively.
Tolpits Lane (A4145) lies about 3 miles south west of the town centre running south from Hagden Lane. The property forms part of a business park on the north side of the road adjacent to Moor Park Industrial Estate. The area is predominantly commercial in nature and to the north of the property is Croxley Common Moor providing 100 acres of protected grassland. Shopping and recreational facilities are provided in nearby Watford (3 miles) and Rickmansworth (2 miles).
Accommodation
Approximately - 512 sq m (5,511 sq ft)
Terms
Price - £2,750,000
EPC Rating - 92 Band D
Specification
- Freehold residential investment
- Arranged as x12 one bedroom flats
- Flats benefit from a high quality finish throughout
- Asset management opportunities
- Approximately 512 sq m (5,511 sq ft)
- Currently operated as serviced apartments
- Producing £135,360 per annum
- On the instructions of James Liddiment and Paul Greenhalgh of Kroll Advisory acting as Joint LPA Receivers