PROMINENT FREEHOLD OFFICE BUILDING

(SUITABLE FOR A VARIETY OF USES)

0.68 ACRE SITE AREA WITH 38 CAR PARKING SPACES

OF INTEREST TO OWNER OCCUPIERS, INVESTORS & DEVELOPERS

2 REGAL WAY, WATFORD WD24 4YJ

LOCATION: Prominently located at the junction of Regal Way and Imperial Way in a mixed commercial and residential area. The property is approximately 1.5 miles from Junction 5 of the M1 motorway and equidistant to the A41 intersection of the M25.

Watford North Station & Watford Junction are a short walk away and there are regular trains with a direct service to London Euston (approximately 18 minutes) and Gatwick Airport (via Clapham Junction).

Local commercial occupiers include Pure Gym (directly opposite), Relco, Screwfix, Howdens, Topps Tiles and other large trade counter operators.

DESCRIPTION: Comprises a stand-alone corner building arranged over ground and first floor, with 38 car parking spaces on a large site area of Approx 0.7 acres.

The offices underwent a Category A fit out back in 2016 that was

designed by Area Squared and benefits from the following :-

• Large site area of 0.68 acres

• CAT 5 cabling throughout

• Mitsubishi air conditioning

• Loading facilities

• 10 New unisex WC’s (6 on the Ground & 4 on the 1st Floor)

• 2 German Kitchens with Siemens Appliances

• Outdoor designed garden with seating for up to 40 people

• Large conference room

• 7 meeting rooms

• Evoke meeting room booking system

• Newly installed Male and Female WC’s

• 5 Persons Passenger Lift (400 Kg)

• Fully Alarmed • Secure car park for 38 cars

DIMENSIONS: APPROXIMATE GIA Ground Floor: 4631 Sq.Ft (430 Sq.M) First Floor: 4465 Sq. Ft (415 Sq. M) Total: 9096 Sq. Ft (845 Sq. M)

PLANNING: Watford Borough Council have confirmed that the site is suitable for a variety of commercial and employment uses (subject to planning).

They would like to see the site further developed. From 01St September 2020 offices (Use Class B1a) will be incorporated

into the new Use Class E. The new Class E (Commercial, Business & Services) includes retail, restaurant, office, financial/professional services, indoor sports, medical and nursery uses along with “any other commercial services”.

OFFICES: The existing building has further scope to add value, by extending

outwards into the car parking area and potentially going a storey or two higher (subject to planning).

A substantially larger new build office scheme would be looked at

favourably by the Council. There is potential for an additional building at the front section of the

site, subject to planning.

RESIDENTIAL: Recent government policy and the loosening up of the planning system should further benefit the site.

TERMS TENURE: Freehold RATES: The rates payable for 20/21 are £72,250 per annum VAT: The property is elected for VAT and therefore VAT will be payable in respect of the sale. PRICE: Offers in excess of £2,500,000 (Two Million Five Hundred Thousand

Pounds) reflecting an attractive capital value of only £275 per square foot. This does not take into account any planning gain.

VIEWINGS: Strictly by prior appointment through the owners’ SOLE agent Monopoly

Estates.

Contact: Richard Hanouka Email: richard@monopolyestates.com M: 07539 300 044

INTERNAL PHOTOS

ORDNANCE SURVEY MAP

GROUND FLOOR PLAN

1ST FLOOR PLAN

MISREPRESENTATION

Monopoly Estates, for themselves and for their client, whose agent they are, give notice that:

1. These particulars do not constitute any part of an offer or a contract.

2. All statements contained in these particulars are made without responsibility on the part

of Monopoly Estates or their client.

3. None of the statements contained in these particulars is to be relied upon as a statement or

representation of fact.

4. Any intending purchaser or tenant must satisfy themselves by inspection, or otherwise as to the

correctness of each of the statements contained in these particulars.

5. No person in the employment of Monopoly Estates has any authority to make any

representation or warranty whatsoever in relation to this property.

6. Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax (VAT).

Any intending purchasers or lessees must satisfy themselves independently as to the incidents of

VAT in respect of any transaction.

7. This document is not intended for distribution and may not be reproduced or further

distributed or published for and purpose. In particular, any tenants detailed in this property should

not be approached without prior written permission.

SUBJECT TO CONTRACT