The property is understood to have been constructed in the mid 1980’s and is a typical two storey hi-tech style building. The elevations are a mix of flat panels and glazing, there is a folding loading door to the rear elevation. There are 66 on site car parking spaces (ratio 1:312). The first floor is fitted as a mix of offices and showroom space around a central glazed atrium. The tenant has fitted air conditioning, a Board room, individual offices and a large break out area. The ground floor is used as laboratory, storage and manufacturing space.
( Agency Pilot Software Ref: 33958 )
Location
The property is situated on Mark Road within the The Willows Estate where other occupiers include Dräger Medical (Unit 2) and Capita IT Managed Solutions (Unit 3). Nearby uses include warehouse, offices, trade counter units and leisure. Mark Road is one of the principal roads within the large and successful Maylands Employment Area of Hemel Hempstead, running parallel to Maylands Avenue. Junction 8 of the M1 is around 1.5 miles away and the strategic junction of the M1(Junction 6a) and M25 (Junction 21) is approximately 4.5 miles away.
Accommodation
Ground Floor 10,894sq ft ( 1,012 sq m )
First Floor 9,699sq ft ( 901.0 sq m )
Total GIA 20,593 sq ft (1,913 sq m)
Terms
Tenancy A new headlease for a term of 10 years at an annual rent of £236,820 per annum exc (£11.50 per Sq.ft). The lease will incorporate a tenant only option to break at the end of the 5th year subject to 6 months proper written notice. The tenant is permitted to share occupation of the whole or part with Group Companies. The tenant is permitted to assign the whole only or sublet on a floor by floor basis.
Tenure The property is for sale freehold.
Occupational Market Overview Hemel Hempstead is a key south-east town strategically located alongside the M1 motorway at junction 8 and just outside the M25 London Orbital Motorway at Junction 21. In our experience due to the short supply hi-tech buildings transactions are not numerous but the companies who seek these type of properties do not wish to operate from standard industrial buildings.
Specification
- Possible opportunity for an owner occupier as consideration will be given to offering vacant possession of the whole.
- Prime location in M25 / M1 town.
- Offers invited over £2,800,000.