Green Lane 3 Estate, Green Lane, Letchworth Garden City, Hertfordshire, SG6 1HP
87,164 Sq Ft / Industrial / General Industrial
For Sale
- £3,000,000.00
Under Offer - Last updated: 27 August 2024
Summary
The property comprises two 1990’s built terraces of 20 small industrial starter units (400-500 sq ft) and two larger industrial units with 5.5m eaves (8,525 sq ft & 6,290 sq ft) and yards. All the units benefit from three phase power with roller shutter doors. The larger of the two terraces is of steel frame construction with brick and blockwork elevations underneath a stell clad mono pitched roof. Consisting of 15 units, each benefits from 5m minimum eaves heights, WC accommodation and allocated parking. The second smaller terrace comprises five units of steel
frame construction. The elevations and mono pitched roof are fully clad with profile steel sheets with the units benefitting from approx. 4m eaves, and allocated parking to the front. Unit 17 and 18 are located immediately on the right hand side as you enter the estate road and are of portal frame
construction with brickwork elevations underneath profile asbestos sheet roofs. Each provides detached warehouse accommodation and benefit from 2 storey office accommodation to the front and secure loading yards / parking to the side and rear.
Key Points
The property is situated in the heart of the Letchworth industrial catchment.The subject property incorporates 24,116 sq ft of light industrial estate, spread across 22 units.Rent Roll: £282,359.50 per annum (£11.64 psf overall).Most of the units are between 400 sq ft to 500 sq ft, with the two outliers being Units 17 & 18 which are 6,290 sq ft & 8,525 sq ft respectively.The virtual freehold site is 2.001 acres, a new 999 year long leasehold at peppercorn (allowing a wide range of commercial uses but restricting against residential) will be created.Both units 17 & 18 are nearing the end of their life cycle and need either refurbishment or redevelopment, works to modernise these buildings will significantly boost rental and investment values.Location
Letchworth Garden City is located in North Hertfordshire close to the Bedfordshire border. The town is very well connected, with the A505 passing through the town east to west and the town being adjacent to junction 9 of the A1(M). The A1(M) provides access to the national motorway network
and directly connects with London to the south. The A505 provides local connections to Luton and the M1 to the west and Cambridge (A10 and M11) to the east. The town lies 32 miles (51 km) north of London, on the railway linking London to Cambridge including nonstop services to London
Kings Cross in approximately 35 minutes.
Property Quote Price(s)
| Description | Sale type | Guide price | Price type |
| |
For Sale Freehold
|
£3,000,000.00
| NA |
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