A town centre retail & residential ground rent investment producing £33,050 pax
Location
32 Fore Street stands immediately opposite Market Place and the Shire Hall adjacent to the former HSBC bank building just past the Church Street junction.
The Salisbury Inn restaurant & hotel, Dinnio mediterranean restaurant and the Hertford House restaurant are just a little further along Fore Street towards Parliament Square, whilst the Practitioner, Corn Exchange, Cinnabar, Veyso’s, Pizza Express and Lussmanns are along Fore Street to the east out towards Marks & Spencer and Tesco.
Hertford is a strong market town serviced by numerous public car parks including the Gascoyne Way multi storey, St Andrew Street, Hartham Lane and London Road, whilst Sainsbury, Tesco and Aldi have substantial car parks to the immediate north, east and west of the town centre.
The rail network is available from Hertford East and Hertford North, the former with a London Liverpool Street service via Tottenham Hale with its Victoria Line underground connections and the latter with a London Kings Cross connection with Victoria Line underground connections at Finsbury Park.
Accommodation
A former Grade II listed inn now trading as a café at ground floor level with self contained residential units above.
Basement - Unmeasured
Ground floor retail - 1,518 sq ft
First floor 1 bedroom flat - 452 sq ft
First floor studio apartment - 388 sq ft
Second floor 2 bedroom flat - 818 sq ft
All dimensions and floor areas are approximate.
TENANCIES: The ground floor and basement parts are let to The Mudlarks Community, a Hertford based charity which supports adults and young people with learning disabilities.
All 3 upper floor residential dwellings are each sold on 150 year long leases.
The Mudlarks retail/café rental is set at £32,500 per annum exclusive on a lease for 10 years and to expire 28 April 2030 on an Act excluded lease.
The current cumulative ground rental income from the flats is £550 per annum subject to 25 yearly RPI rent reviews.
Terms
For sale