For Sale by Auction on 14th December 2023
The property comprises two combined single storey semi-detached industrial/warehouse units with ancillary officeaccommodation, showrooms and mezzanine floors. Theproperty extends to approximately 12,215 sq ft (1,134.6 sq m)in total. The Receivers understand there are c.20 car parkingspaces included in the sale, this is subject to confirmation withlegal advisors.
The property has most recently been used as a Light Industrial/ Warehouse unit with ancillary office and showroomaccommodation, but may suit a number of alternative uses.
The building was constructed circa 1955. The property mayhave refurbishment / redevelopment potential, subject toobtaining the necessary consents.
Location
Watford is a town and borough inHertfordshire, 15 mi (24 km) north-west ofCentral London, on the banks of the RiverColne.
The property is located within theShakespeare Industrial Estate which isaccessed from Shakespeare Street or AcmeRoad, off Leavesden Road. The propertybenefits from excellent communications withthe M25 (J19/20) and the M1 (J5)Motorways. The industrial estate is wellsituated for access to London, Birminghamand the North.
Watford Junction Railway Station isapproximately 1.2 miles to the south of theproperty which provides regular services toLondon Euston, St Albans, Milton Keynes,Birmingham and the North.
The estate comprises other similar lightindustrial/warehouse units accessed fromthe adjoining residential roads ofShakespeare Street and Acme Road.
Accommodation
The property provides the following gross internal area:
Ground Floor = 11,460 sq ft (1,064.5 sq m)
Mezzanine - 755 sq ft (70.1 sq m)
Total - 12,215 sq ft (1,134.6 sq m)
Terms
Tenure - The property is held by way of two Freehold interests under title numbers HD242604 & HD242605.
There is currently a lease to Acrylic Design Watford Limited for a term of 5 years from22/02/2022 at a rent of £80,000 per annum. The lease is contracted out of the security oftenure provisions of the Landlord & Tenant Act 1954. Please refer to legal pack / data roomfor more information.
The property will be sold subject to any tenancies which may or may not exist at the time ofthe sale (refer to the legal pack / joint agents).
Business Rates - The property’s rateable value is assessed as £82,000 in the 2023 Rating List.
Planning - Watford Borough Council (01923 278293) www.watford.gov.uk
The property has most recently been used as a Light Industrial / Warehouse unit withancillary office and showroom accommodation. Interested parties should rely on their ownenquiries regarding the lawful use of the property and any potential for change of use.
Shakespeare Industrial Estate is subject to an Article 4 Directive restricting PermittedDevelopment rights.
EPC - The property benefits from an EPC Rating of ‘E’ (119).
Services - We understand the property benefits from all mains services, albeit none have been tested.
We are advised that the property benefits from 3-phase power & a gas heating system.The office space benefits from a comfort cooling system.
Offers - Guide Price £1,750,000.00
VAT - Please refer to the legal documents.
Costs - Each party to be responsible for theirown costs incurred in the transaction.
Specification
- Freehold Light Industrial / Warehouse unit totalling 12,215 sq ft (1,134.6 sq m)
- Asset management opportunities
- Located near Watford town centre
- Suitable for owner occupation or investors / developers
- Offers in excess of £2,000,000 are invited for the freehold interest