Summary
Observer House comprises a detached, two-storey office/business building situated within the established Watford Business Park.
The property extends to approximately 17,328 sq ft and provides predominantly office accommodation arranged over ground and first floors, together with ancillary storage and operational space.
The accommodation comprises a mixture of open-plan and cellular offices, benefiting from air conditioning, raised/access flooring, suspended ceilings and WC facilities.
Originally developed as a hybrid business building, the property retains rear loading access and ancillary dispatch/storage accommodation, providing additional flexibility for occupiers requiring a combination of office and operational space.
Externally, the property benefits from in excess of 50 on-site car parking spaces.
Part of the ground floor is currently let, providing an existing rental income, whilst the balance of the accommodation is occupied by the vendor and is expected to be available with vacant possession on completion.
The sale therefore offers an opportunity for an owner-occupier to acquire a substantial self-contained headquarters building whilst benefiting from an existing income stream.
Key Points
Detached, self-contained two-storey office/business buildingApproximately 17,328 Sq.ftPart ground floor let, producing £68,442 per annumExisting occupational lease expiring November 2028Predominantly office accommodation with ancillary storage/operational spaceMixture of open-plan and cellular officesAir conditioning, raised/access flooring and suspended ceilingIn excess of 50 on-site parking spacesEstablished Watford Business Park locationLong leasehold interest with approximately 81 years expiredViewings
Strictly by appointment through the sole agents: Brasier Freeth LLP.
Location
Observer House is situated on Caxton Way within Watford Business Park, approximately two miles west of Watford town centre.
The property is well positioned for access to the regional motorway network, with Junction 5 of the M1 and Junctions 18 and 19 of the M25 all approximately five miles away.
Watford Junction Station is approximately 2.5 miles from the property and provides regular rail services to London Euston, the Midlands and the North. Local bus services also connect the business park with Watford town centre and surrounding areas.
Terms
The property is held by way of a long leasehold interest expiring on 24 March 2108, providing approximately 81 years unexpired.
The current head rent is understood to be £1,790 per annum, subject to review in accordance with the terms of the head lease.
Further details of the tenure and associated documentation are available upon request.