Investment/Development Opportunity16-22 Theobald Street, Borehamwood, Hertfordshire WD6 4SE
An income producing Freehold building comprising a mix of retail space, offices & an HMO Investment & Development Advisors
GLPG
Aerial Image of the site with outline
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A Freehold building comprising 10 x HMO Single Letting Rooms, 4 x A1 Retail Units & B1 Office Space
The HMO’s are split into two sections (1 x 4-room & 1 x 6-room), the 6-room HMO benefits from an HMO license, however, it is our understanding that the 4-room HMO does not require a license. Freehold interest offered for sale
Highly reversionary income, currently approx. £128,000 per annum
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Existing GIA Approx: 6,653 sq. ft. / 619 sq. m.
Prominent site measuring approx. 5,484 sq. ft. / 509.47 sq. m. / 0.12 acres, including approx. 10 car parking spaces to the rear Elstree & Borehamwood Railway Station is just 600 feet from the site, with trains travelling into Kings Cross in less than 30 minutes
Viewings by appointment only - please contact a member of our team to arrange an inspection
INVESTMENT SUMMARY
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FLOOR PLAN
The building comprises a
number of entrances to
access the various HMO’s,
Retail Units & Office
Spaces.
The total floor area of the
building is estimated at
6,653 square feet / 619 square metres.
Please note, these
measurements are for
guide purposes and
should not be relied upon.
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600 feet from Elstree and Borehamwood Railway Station
0.1 Miles from Borehamwood Retail Park
0.5 Miles from Tesco Supermarket
0.5 Miles from Elstree Studios
0.6 Miles from Meadow Park
0.7 Miles from Yavnah College
1.1 Miles from Merryfield Community Primary School
1.3 Miles from Radlett High Street
1.8 Miles from Radlett Golf Club
20 Minute Drive to Brent Cross Shopping Centre
20 Minute Drive to Intu Watford Shopping Centre
Located just 600 feet from Borehamwood Railway Station, with trains travelling into Kings Cross in under 30 minutes. The site is surrounded by an abundance of local amenities, including restaurants, shops, major supermarkets & a retail park.
Elstree & Borehamwood Station is 600 feet away
Borehamwood Retail Park is 0.1 miles away
KEY DISTANCES
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TENANCY SCHEDULE
A rare opportunity to secure a prominent building, located just 600 feet from Elstree & Borehamwood Railway Station.
The building offers excellent asset management opportunities in addition to potential re-development, subject to all necessary consents.
Currently let to a mix of tenants, comprising 10 x HMO letting rooms, a plumbing, kitchen & bathroom store, storage area and showroom, a single-let spacious office and a dry cleaner.
The current income is approx. £128,000 per annum which we understand to be highly reversionary. Plumbco is holding over and has not had a rent review in a number of years. The second-floor B1 office space is currently sub-let by Plumbco and there may be an opportunity to separate this whilst negotiating the terms of a new lease with Plumbco.
Located seconds from all local amenities, Borehamwood has experienced continuous growth over the past decade, including a large retail park, high-profile retailers and restaurants.
In addition to being just 600 feet from Elstree & Borehamwood Railway Station, with trains travelling into London’s Kings Cross in less than 30 minutes.
DESCRIPTION
DATA ROOM
Please CLICK HERE to visit our online data room containing the following set of documents:
1. Existing Floor Plans 2. Site Location Plan 3. Title Register 4. Title Plan 5. Tenancy Schedule
Please note, the data room is being regularly updated and will shortly contain a copy of the various leases and a copy of the HMO license.
Access Code: 1622theobald (case sensitive)
USE CLASSES & PLANNING
The Property benefits from a mix of A1, B1 & C3 Use Classes
HMO License in place for the 6-room HMO element of the 10-rooms total
FLOORUSE CLASS
A1/B1PLUMBCO
C3
CURRENT INCOME
HMO (10-Room)
LOST SOCK
MAGIC BOX CREATIVE B1(a)
A1 £12,000
LEASE LENGTH
Dec-2023
Holding Over
Part FF & SF
Part GF
Part SF
Part GF, FF & SF
Sub-let by Plumbco
6-month notices
£54,960
£60,970
Sub-let by Plumbco
TOTAL £127,930
TENANT
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Price Offers over £1,750,000, subject to contract
Offers
To be sent in writing detailing a proposal, timescales, method of funding and solicitor details
Tenure
Freehold
Viewings
By appointment only - please contact a member of our team to arrange an inspection Deposit
10% of the final purchase price will be payable to the Seller’s solicitor upon exchange of contracts
VAT
It is our understanding that the property is not elected for VAT
Dean Leslie07446 918 939020 3640 6420
Matt Glazer 07879 774 584 020 3640 6420
Adam Freedman07572 121 301020 3640 6420
For more information, please visitwww.glpg.co.uk/properties/1622theobald
Investment & Development Advisors
GLPG
Please contact sole agents, GLPG:
Disclaimer: GLPG on their own behalf and on behalf of the Owner/Landlord of this property whose agents give notice that this document does not constitute any form of contract for sale or lease. Statements should not be
relied upon and interested parties are advised to satisfy themselves as to the correctness of each statement. GLPG is the trading name of GLPG Limited, a company registered in England No: 09871398
GLPG