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Lot 16

Freehold Commercial Investment – Shop & Upper Part – Gross Yield 10%
In same family ownership since 1979
6 week completion

situation

Located close to the junction with The Crescent in this busy local shopping centre, amongst such multiples as Budgens, Martins, Barclays, Post Office, Boots, Haart Estate Agents, and a host of local traders.
Abbots Langley is a popular Hertfordshire village lying just off the main A41 some 41/2 miles north of Watford, within the M25 (between Junctions 20 & 21) where it joins the M1 (Junction 6 & 6a) approx. 23 miles from Central London.

Property

A mid terraced building comprising a Ground Floor Shop with rear Storage extension plus internal access to Ancillary Office/Storage on the first floor.
The property benefits from use of a rear service road accessed via The Crescent.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 18'8"
Internal Width 17'6"
Shop Depth 29'1"
Built Depth 64'2"
Sales Area Approx. 465 sq ft
Consulting Room Area Approx. 115 sq ft
Rear Store Area Approx. 140 sq ft
WC
First Floor Office/Storage
3 Rooms Area Approx. 405 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

tenancy

The entire property is let on a full repairing and insuring lease to Chemilab Limited (with 2 guarantors) t/a Abbey Pharmacy (having 5 branches) for a term of 15 years from 3rd October 2018 at a current rent of £15,000 per annum exclusive.

Rent Reviews October 2023 (Notice has not yet been served) and 2028

Note 1: There is a £7,500 Rent Deposit held.

Note 2: The property has been used as a Pharmacy since 2008.

*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.

45 High Street, Abbots Langley, Hertfordshire WD5 0AA