St Albans, Hertfordshire – Prime Retail Unit Let to Pret a Manger
25-27 St Peter's Street, St Albans, AL1 3DP
Offers in excess of £2,000,000
- Property Type:
- Sub Type:
- Net Initial Yield:
- Affluent Cathedral City, 25 miles north west of Central London.
- Prominently positioned on St Peter’s Street benefiting from a high footfall.
- The property comprises an attractive building arranged over ground and first floor.
- Let to the strong covenant of Pret A Manger (Europe) Limited.
- Unexpired lease term of 6.4 years, expiring 3 April 2028.
- Total area of approximately 3,319 sq ft (308.4 sq m).
- Rent of £150,000 per annum.
- Longer term redevelopment potential subject to planning.
- Offers sought in excess of £2,000,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7.06% assuming purchaser’s costs of 6.28%.