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Lot 13 Sold: £325,000

Nu-World, Peacock Court, Ringlet Road, Hemel Hempstead, Hertfordshire HP2 7DP

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Lot 13   Click here for addendum

Leasehold Commercial Investment
Gross Yield 9.2%
6 Week Completion

Situation

Located just off Three Cherry Trees Lane in the Barratt Homes Swallow Fields Development which comprises approx. 400 homes, opposite a One-Stop Convenience Store and being approx. 2½ miles from the Town centre.
Hemel Hempstead lies approx. 3 miles from St Albans and is close to the M1 (Junction 8) being approx. 25 miles north-west of central London.

Property

Built in 2018, the property forms part of a purpose built 4 storey building comprising a Ground Floor Commercial Unit which has frontages/entrances on both Ringlet Road and Three Cherry Trees Lane.
In addition, the property includes 4 Parking Spaces.

Note: We understand the tenant spent approx. £87,500 on fitting out the premises.

Accommodation

Ground Floor Commercial Unit
GIA Approx. 1,990 sq ft

VAT is applicable to this Lot

Tenure

Leasehold for a term of 199 years from 6th December 2018 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to NU-World CIC (with 2 personal Guarantors) t/a Nu World (Preschool Play Centre with Cafe) for a term of 10 years from 21st September 2020 at a current rent of £30,000 per annum exclusive.

Rent Review & Tenant's Break 2025

There is a £9,000 (incl. VAT) Rent Deposit held.

Enquire about this lot:

Photo of Nathan Schindler

Nathan Schindler
020 8492 9449
nschindler@barnettross.co.uk

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.