St Albans - 17-23 Chequer Street

Location:

St Albans is an attractive and historic south east cathedral city located in Hertfordshire, 6 miles (10 km) east of Hemel Hempstead and 25 miles (40 km) north west of Central London.

 

The city is strategically located 4 miles (6 km) from the M1/M25 interchange providing fast access to the national motorway network and within easy reach of Central London, as well as both Luton and Heathrow airports. 

 

Direct rail links are provided by the Thameslink service into London St Pancras with a journey time of approximately 20 minutes thereby underpinning the city’s reputation as an affluent commuter hub to London.

  • Description

    The subject property comprises two retail units arranged over ground, basement, first and second floors. The property occupies a prime location in part of the city’s main restaurant circuit, hosting operators including Bill’s, Cote, Pizza Express, The Ivy, Prezzo, Carluccio’s, Loch Fyne, Wagamama’s and Thai Square.

     

    Nando’s trade ground and the majority of the first floor as sales. The basement is arranged as a manager’s office and other ancillary accommodation. The first floor although predominantly used as an open plan restaurant also accommodates a staff room and toilets. The second floor is predominantly unused ancillary accommodation. Toni & Guy trade the ground floor as an open plan hairdressing salon fitted to the tenant’s corporate specification. The basement is used for ancillary purposes. There is a secondary frontage and customer access onto Pudding Lane/Market Place.

  • Tenure

    Freehold

  • Tenancy (ies)

    Let to Nando’s Chickenland Ltd (t/a Nando’s) and Essensuals Holdings Ltd (t/a Toni & Guy).

  • Current Rent PAX

    140000

  • Service Charge

    The property is currently managed by JLL and a service charge budget is in place running until March 31st 2018 equating to £0.87 psf. The subject property could be managed on an adhoc basis rather than a formal service charge.

  • Price

    £2,400,000 (Subject to Contract and exclusive of VAT )

  • Yield

    5.50%

MISREPRESENTATION: These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchaser should satisfy himself and as to the correctness of these details, Neither the agents nor the vendor or lessors are to be or become under any liability or claim in respect of these particulars. These particulars are supplied on the understanding that all negotiations are conducted through this office.

All viewings are strictly by prior appointment.
Please contact:

David Freeman
Ed Smith
Patrick Over
Simona Malinova