Retail premises for sale in North Orbital Road, St Albans AL2

Guide price £9,000,000 (£415.15/sq. ft)
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Retail premises for sale

21,679 sq. ft*

Property features

  • The site consists of the front element of the retail park
  • Arranged as 10 units, with an additional 2 Units (C5 and C9) sold off on long le
  • Approx. 140 car parking spaces
  • Current income for the 9 let Units is £533,604 per annum
  • Fixed rent increases within several of the Leases
  • One of the 10 Units is currently under refurbishment (re-let for further income)
  • Strong Tenant profile including Wenzels, Costa, Loaf and Dominos
  • Potential for significant rental uplift with erv of approx. £765,000 by 2033

Property description

The site lies in a prominent position, situated on the North Orbital Road, consisting of a multi-let retail park which is being sold with the benefit of existing income.

The site is arranged as ten units with an additional two units (C5 and C9) sold off on long leases.

There are approx. 140 car parking spaces on site, including ev charging for 6 cars. The site is regulated by anpr parking system, run by Smart Parking, which records over 20,000 vehicle movements per month.

The North Orbital Road (A414) has over 100,000 vehicles pass the site per day.

Comprehensive CCTV coverage is installed across the entire site.

The current annual income is £533,604 per annum, with an erv of approx. £765,000 per annum by 2033.

There is a potential for significant rental uplift through a combination of fixed increases within the existing leases, letting vacant units (C2/C3), and longer-term asset management.

There may be an opportunity for future redevelopment of the site, subject to obtaining the necessary planning consents.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
GLPG, W1H on +44 20 3007 0694 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by GLPG, and do not constitute property particulars. Please contact GLPG for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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