OPPORTUNITY TO BUY MIXED-USE FREEHOLD PROPERTY WITH 4 BEDROOM FLAT ABOVE IN HERTFORDSHIRE AVAILABLE ON VACANT POSSESSION WITH REF #CS0680

The area features a mix of family homes and a steady flow of potential customers for any retail business. The surroundings includes a range of local businesses and shops, contributing to high foot traffic and increased visibility for the property. The property has good public transportation options as bus routes run along St. Albans Road, and Watford Junction Railway Station, which provides direct trains to London and other places, is just a short distance away. Additionally, an English grammar school is conveniently located nearby.

OVERVIEW:
This well-maintained freehold property includes a newly refurbished four-bedroom house and a commercial unit. The property has been extensively renovated, with £300,000 invested recently. The residential portion features a separate entrance, one box room, one suite room, three toilets, and two bathrooms.

The commercial space is currently divided into two sections: one side operates as a beauty salon and the other as a newsagent. The new owner has the flexibility to convert the space into a large Convenience store, big barber shop, restaurant or other retail premises. The business has been owner-occupied since 2009 and has been established for 90 years. However, due to health reasons, the owner is relocating out of the city.

Additional features that include solar panels, a newly installed gas supply, and the property has a garage with space for 4 to 5 cars, which could potentially be converted into a flat (subject to planning permission). The second level, currently used for storage, could also be converted into additional flat (subject to planning permission).

The property offers strong rental potential. In our eyes the estimated rent can be achievable of £25,000 per annum for the shop and £30,000 per annum for the flat, totaling around £55,000 per annum. The additional parking space is also available for rent, which could generate additional rental income.

Another potential is that each it could potentially be used as an HMO, subject to planning permission.

This property offers a great investment opportunity with both immediate rental income and future development potential.

TURNOVER: Before the shop was extended, the vendor was generating approximately £10,000 per week. With the increased size, In our eye it has the potential to achieve around £15,000 per week, even without offering Oyster or lottery services.

TENURE: Freehold

Size (Approximately):
Total – 1850 sqft
– Uppers: 1,066.27 sqft
– Commercial Below: 785.41 sqft

Please note that these sizes are approximate, and we do not guarantee their accuracy. We recommend confirming the measurements yourself.

The goodwill value of the business is included in the freehold price.

The owner is seeking offers in the region of £1,000,000 for the freehold interest.

AVAILABLE ON VACANT POSSESSION

For further information, please contact the BTC Commercial and Investment team at 0208 889 7474 or email commercial@btcint.com.