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10 And 12 Station Road, Harpenden, AL5 4SW
3,904 Sq Ft / Other / Investment
Withdrawn - Last updated: 04 April 2023
Summary
Two storey end of terrace premises divided into two retail units known as 10 and 12 Station Road and two self contained flats known as 10a and 12a Station Road. 10 and 10a are individually let, 12 and 12a are let as shop and flat. Additional income from parking and an access arrangement. The current total income is £63,080 per annum. The lease to 12/12a provides a future stepped rental increase by £1,250 per annum effective 24th May 2024. Commercial leases expire in 2030 and 2032 with no breaks.
Key Points
Total current income £63,080 per annumStepped rent rise to £64,330 per annumNet initial yield 5.04%Shop lease expires 2030 and 2032Freehold Investment
Viewings
Strictly by appointment via sole agent
VAT
The property is not elected for VAT.
Tenancy Schedule
10 Station Road - Butchers Shop. Rent: £22,000 Lease Expires: 22nd February 2030
10a Station Road-Flat. Rent: £11,400
12 and 12a Station Road- Indian Restaurant and Flat. Rent: £28,750* Lease Expires: 24th May 2032
Use of Access - Simmons Bakery (2 Station Road). Rent: £400. Lease Expires: Annually
2 Parking Spaces - Barber’s Shop (8 Station Road). Rent: £480. Lease Expires: Annually
License for 10 Station Road to park one car. £50 per annum
Total: £63,080
*12 and 12a are subject to a stepped rent increasing to £30,000 per annum on 24th May 2024
Location
Northern side of Station Road approximately 100 metres (0.6 miles) east of its junction with the High Street (A108) in the centre of the town of Harpenden.Terms
The property is available freehold subject to various leases
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