Sold

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:
Commercial
Sub Type:
Retail
Tenure:
Freehold
Net Initial Yield:
7.06%

Income

£150,000 pa

Description

  • 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.
  • Freehold.
  • 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%.