Investment/Development Opportunity16-22 Theobald Street, Borehamwood, Hertfordshire WD6 4SE

An income producing Freehold building comprising a mix of retail space, offices & an HMO Investment & Development Advisors

GLPG

Aerial Image of the site with outline

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A Freehold building comprising 10 x HMO Single Letting Rooms, 4 x A1 Retail Units & B1 Office Space

The HMO’s are split into two sections (1 x 4-room & 1 x 6-room), the 6-room HMO benefits from an HMO license, however, it is our understanding that the 4-room HMO does not require a license Freehold interest offered for sale

Highly reversionary income, currently approx. £128,000 per annum

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Existing GIA Approx: 6,653 sq. ft. / 619 sq. m.

Prominent site measuring approx. 5,484 sq. ft. / 509.47 sq. m. / 0.12 acres, including approx. 10 car parking spaces to the rear Elstree & Borehamwood Railway Station is just 600 feet from the site, with trains travelling into Kings Cross in less than 30 minutes

Viewings by appointment only - please contact a member of our team to arrange an inspection

INVESTMENT SUMMARY

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FLOOR PLAN

The building comprises a

number of entrances to

access the various HMO’s,

Retail Units & Office

Spaces.

The total floor area of the

building is estimated at

6,653 square feet / 619 square metres.

Please note, these

measurements are for

guide purposes and

should not be relied upon.

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Existing Building

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600 feet from Elstree and Borehamwood Railway Station

0.1 Miles from Borehamwood Retail Park

0.5 Miles from Tesco Supermarket

0.5 Miles from Elstree Studios

0.6 Miles from Meadow Park

0.7 Miles from Yavnah College

1.1 Miles from Merryfield Community Primary School

1.3 Miles from Radlett High Street

1.8 Miles from Radlett Golf Club

Approx. 15 Minute Drive to Intu Watford Shopping Centre

Approx. 20 Minute Drive to Brent Cross Shopping Centre

Located just 600 feet from Borehamwood Railway Station, with trains travelling into Kings Cross in under 30 minutes. The site is surrounded by an abundance of local amenities, including restaurants, shops, major supermarkets & a retail park.

Elstree & Borehamwood Station is 600 feet away

Borehamwood Retail Park is 0.1 miles away

KEY DISTANCES

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TENANCY SCHEDULE

A rare opportunity to secure a prominent building, located just 600 feet from Elstree & Borehamwood Railway Station.

The building offers excellent asset management opportunities in addition to potential re-development, subject to all necessary consents.

Currently let to a mix of tenants, comprising 10 x HMO letting rooms, a plumbing, kitchen & bathroom store, storage area and showroom, a single-let spacious office and a dry cleaner.

The current income is approx. £128,000 per annum which we understand to be highly reversionary. Plumbco is holding over and has not had a rent review in a number of years. The second-floor B1 office space is currently sub-let by Plumbco and there may be an opportunity to separate this whilst negotiating the terms of a new lease with Plumbco.

The building is located just 600 feet from Elstree & Borehamwood Railway Station, with trains travelling into London’s Kings Cross in less than 30 minutes.

Located seconds from all local amenities, Borehamwood has experienced continuous growth over the past decade, including a large retail park, high-profile retailers, supermarkets and restaurants.

DESCRIPTION

DATA ROOM

Please CLICK HERE to visit our online data room containing the following set of documents:

USE CLASSES & PLANNING

The Property benefits from a mix of A1, B1 & C3 Use Classes

HMO License in place for the 6-room element of the 10-rooms total

FLOORUSE CLASS

A1/B1PLUMBCO

C3

CURRENT INCOME

HMO (10-Room)

LOST SOCK

MAGIC BOX CREATIVE B1(a)

A1 £12,000

LEASE LENGTH

Dec-2023

Holding Over

Part FF & SF

Part GF

Part SF

Part GF, FF & SF

Sub-let by Plumbco

6-month notices

£54,960

£60,970

Sub-let by Plumbco

TOTAL £127,930

TENANT

1. Existing Floor Plans2. Site Location Plan3. Title Register4. Title Plan 5. Tenancy Schedule

Please note, the data room is being regularly updated and will shortly contain a copy of the various leases and a copy of the HMO license.

Access Code: 1622theobald (case sensitive)

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Price On Application

Offers

To be sent in writing detailing a proposal, timescales, method of funding and solicitor details

Tenure

Freehold

Viewings

By appointment only - please contact a member of our team to arrange an inspection Deposit

10% of the final purchase price will be payable to the Seller’s solicitor upon exchange of contracts

VAT

It is our understanding that the property is not elected for VAT

Dean Leslie07446 918 939020 3640 6420

Dean.leslie@glpg.co.uk

Matt Glazer 07879 774 584 020 3640 6420

Matt.glazer@glpg.co.uk

Adam Freedman07572 121 301020 3640 6420

Adam.freedman@glpg.co.uk

For more information, please visitwww.glpg.co.uk/properties/1622theobald

Investment & Development Advisors

GLPG

Please contact sole agents, GLPG:

Disclaimer: GLPG on their own behalf and on behalf of the Owner/Landlord of this property whose agents give notice that this document does not constitute any form of contract for sale or lease. Statements should not be

relied upon and interested parties are advised to satisfy themselves as to the correctness of each statement. GLPG is the trading name of GLPG Limited, a company registered in England No: 09871398

GLPG