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Mixed Use Investment, 27-29 Railway Street, Hertford, SG14 1BZ

1,976 Sq Ft / Retail / Investment

For Sale - £550,000.00

Under Offer - Last updated: 21 November 2023

Considered a landmark town centre building, 27-29 Railway Street is arranged over basement, ground and two upper floors.

The ground floor retail premises is let to Mr Barber Shops Limited with guarantors.

The first and second floors are fully self contained and comprise 6 rooms with vacant possession.

The open plan basement has full height headroom and is with vacant possession.

The shop has been well fitted, cared for and maintained by the current occupiers who operate a barbers business.

The first and second floors comprise 6 individual rooms to include toilet and kitchen facilities. These upper floors were most recently used for multi let offices although would equally suit conversion to residential. The majority of rooms have electric wall heaters, carpeting, lighting and security entry phone system. The fire alarm system is untested.

Location

27-29 Railway Street stands in the very heart of this historic county town immediately opposite Barclays Bank and Toni & Guy and the entrance into the new Lea Wharf (formerly Bircheley Green) retail and residential development. Other retailers in near immediate proximity include Holland & Barrett, Boots, Café Nero, Hamptons Estate Agents, O2 and Boots Pharmacy.

Hertford is a strong county town 8 miles due north of junction 25 of the M25. There is immediate access onto the A414 providing eastward M11 connections at Harlow and westward A1M/M1 connections at Hatfield and beyond.

Hertford East and Hertford North rail stations provide London Liverpool Street and London Kings Cross connections. London Stansted International Airport is accessed from the M11 junction at Bishops Stortford.

Accommodation

Basement - 522 sq ft

Shop (from ratings website) - 504 sq ft

First floor - 477 sq ft

Second floor - 473 sq ft

Total - 1,976 sq ft

All floor areas and dimensions are approximate.

Terms

TENANCIES: The ground floor shop is let to Mr Barber Shops Limited with 3 guarantors for a term of 10 years from 16 November 2017 on full repairing and insuring terms at the current passing rent of £22,000 per annum exclusive. There is a rent review in November 2022.

All other parts of the building are to be sold with vacant possession.

TENURE: Freehold subject to the leases as referenced above.

PRICE: £550,000 subject to contract only.

VAT: TBA.

LEGAL COSTS: Each party to be responsible for their own legal costs.

EPC: TBA.

RATEABLE VALUE: We are aware of the following rateable values:

Basement - £ 1,125
Shop - £18,000
Room 1 - £ 2,500
Room 2 - £ 2,125
Room 3 - £ 1,525
Room 4 - £ 910
Room 5 - £ 2,050

All rateable values with effect 1 April 2017.

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £550,000.00 NA

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Contact agents

Aaran Forbes

Paul Wallace Commercial

01992 830264



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