Of Interest to Investor Clients – Hempstead
This freehold building divided into three self contained commercial units has come to the market for sale with the benefit of the rental income with potential uplift. Situated in the village of Hempstead, this sought after area benefits from a high footfall within this residential location. Close by is a neighbourhood pub, a Co-Op supermarket, doctors surgery and an Indian restaurant.
The property consists of 2 retail units and an office on the first floor, currently producing £26,200 per annum exclusive. The interiors shop lease expires in July this year and they are looking to vacate, giving the buyer the opportunity for a new tenant or trade from here themselves. The first floor offices are holding over and the lease for the pharmacy expires in April next year, therefore there are rental uplift opportunities.
There is potential for redevelopment, subject to planning.
Right Hand Shop – 148 Hempstead Road currently trading as ‘Strictly no Magnolia’, an interiors retail shop. The lease expires in July of this year at a current rent of £12,000 p.a.x. Approximately 322 sq.ft.
Left Hand Shop – 148b Hempstead Road has traded for many years as a pharmacy with a lease expire of April 2025 at a current rent of £10,000 p.a.x. Approximately 373 sq.ft.
First Floor Offices – trading as non surgical procedures and currently holding over at a rental of £4,200 p.a.x. Approximately 277 sq.ft.
Price for the freehold £360,000 with the benefit of the leases, subject to contract.
Rates: 148 Hempstead Road – RV £3,450. 148a Hempstead Road – RV 3,050 and 148b Hempstead Road – RV 4,100.
Legal Costs: Each party to bear their own legal costs.
