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Lot 11 Click here for addendum

Retail Investment – Gross Yield 10%
4 Week Completion

Situation

Located near to the junction with Windsor Road on this retail and commercial artery which is ideal for attracting both local and passing trade and amongst a host of independent traders all serving the surrounding residential population.
Watford North Station (London Northwestern) is approx. mile distant and Watford town centre lies approx. 1 miles to the south.
Watford is approx. 16 miles north-west of central London benefitting from good links via the A41 to the M1 (Junction 5) and the M25 (Junction 19).

Property

Forming part of a retail parade comprising 2 Ground Floor Shops together with a Rear Yard behind No. 338.

Accommodation

No. 338 - Ground Floor Shop
Internal Width	10'2"
Shop & Built Depth	31'1"
No. 338a - Ground Floor Shop
Internal Width	8'9"
Shop & Built Depth	43'2"
WC

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from completion at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to NW Supermarket Ltd as a Butcher (No. 338) and a Fishmonger (No. 338a) for a term of 10 years from 28th November 2024 (renewal of a previous lease) at a current rent of £15,000 per annum exclusive.

Rent Review and Tenants Break 2029

There is a £7,500 Rent Deposit held.

Note: Nos. 340, 340a, 342/342a, 344 & 344a St Albans Road are also being offered for sale in this Auction - see Lots 12 to 16.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

338/338a St Albans Road, Watford, Hertfordshire WD24 6PQ