Under Offer
1,152 Sq Ft
£295,000
  • Ref: 110737
  • Type: Investment, Office
  • Availability: Under Offer
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Property Summary

Virtual Freehold - Investment For Sale

Full Details

Offices located on the ground floor of a 3-storey building amounting to 1,152 Ft² arranged into private office rooms, kitchen and WC. To the front of the property is a grassed area that could be improved for car parking.

Location
Situated on Greycaine Road, an established and popular commercial location approx. one mile from Junction 5 of the M1 Motorway and 0.4 miles from the A41. It is therefore well located for the national road network with good access to the M25 Motorway (J19 and J20).

Rail communications are available at Watford North Station which links to Watford Junction Station (London Euston 16 minutes). Both stations are close to the property, being 0.2 miles and 1.3 miles respectively.

Terms
The property is offered as an investment sale of the virtual freehold.

It is held on a ground lease with approx. 992 years remaining (at a peppercorn ground rent) subject to a new effective full repairing and insuring underlease to Nairobi Coffee & Tea Company Limited (The). Company number 00399998.

The underlease being for a term of 10 years subject to an open market rent review at the 5th year at a rent of £20,000 per annum exclusive plus VAT. The lease will be subject to a tenant only option to determine at the 5th year upon 6 months prior notice.