Chartered Surveyors &
Commercial Property Advisors

Project Description

FOR SALE Retail & Residential Investment

Harpenden is a prosperous commuter town having a population of close to 30,000 and is situated equidistant between St Albans and Luton with both towns being 4 miles (6.43km) away.
Major retailers in the town include Waitrose, Sainsburys Marks & Spencer, Boots and WH Smith as well as a wealth of independent retailers and restaurants. Employers in the town include Rothamsted Research, the world’s oldest agricultural research station and many small and medium sized businesses. Harpenden has recently been judged to be the 10th best retail centre out of the top 1,000 in the country when measured for the strength of the retail offer within the town and its relative prosperity (HDH Vitality Rankings 2022).

The property is situated on the west side of Vaughan Road, between its junctions with High Street and Bower’s Way within a short walk of Harpenden Railway Station. The property is located in a conservation area.

The property is arranged on ground and two upper floors to provide four self-contained retail units on the ground floor with 13 flats on the two upper floors and within part of the roof void.
The four retail units are let on four separate occupational leases. Ten of the residential flats are let on individual 999 year leases whilst the remaining three are to be let on new long leases from completion of a sale. These flats are currently let on Assured Shorthold Tenancies and can be purchased on that basis if required, subject to negotiation. The flats are arranged around three separate cores. The property benefits from rear service access and car parking to the rear.

Offers in excess of £2m to show a purchaser a net initial yield of 6.51% after deducting purchaser’s costs of acquisition.

For an initial discussion contact Paul Jessop on 01582 346110 or email: paul@jessopco.co.uk

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