The property comprises the ground floor retail unit within a purpose built block of 6 shops that includes a Spar convenience store, a fish and chip shop, a Domino's pizza, a cafe and a Funeral parlour
( Agency Pilot Software ref: 103737 )
Location
The premises are located in a mainly residential neighbourhood to the south east side of Abbots Langley, being part of a development of 6 shops and 24 flats developed in around 2007. The High Street is approximately 0.8 miles away. Abbots Langley is a village just 5 miles to the north-west of Watford, just inside the M25 adjacent to Junction 20, with a population of approximately 22,000 (2021 census) which has increased from the previous census figure of 19,700, and is a popular commuter village. The Harry Potter studios are based at Leavesden, on the eastern edge of Abbots Langley, within a 2 mile drive
Accommodation
945 sq ft (87.8 m2)
Terms
Ownership The ground floor shop only is owned by way of a 999 year ground lease from 1 January 2008 at a peppercorn rent on effectively full repairing and insuring terms. There is no residential accommodation included in this sale. There is a strict non-compete clause such that the property cannot be used as a betting shop, convenience store or cooked pizza shop. A copy of the Title document and long lease is available upon request.
Planning The shop has planning consent for a hot food takeaway granted in 2007 EPC Ground Floor Shop- D- 95
Services All main services are connected
VAT is payable in addition
Guide Price Offers invited in the region of £330,000 (Three hundred and thirty thousand pounds) for the 999 year virtual freehold interest plus VAT
Specification
• Virtual freehold fully let income producing GF retail investment.
• Income £26,000 pa
• Let from 20 September 2024 on a new 15 year lease
• 6 month rent deposit held
• Yield 7.73% gross initial