Part Vacant Industrial Investment/Occupier Opportunity
Summary
- Substantial Industrial Premises
- Principle Industrial District
- Part Let / Mostly Vacant
- Partly Refurbished
- Good Prominence
- Freehold
Accommodation
The accommodation comprises the following areas:
| Name | sq ft | sq m |
| Unit - Unit A | 6,086 | 565.41 |
| Unit - Unit B | 2,965 | 275.46 |
| Unit - Unit C | 2,923 | 271.56 |
| Total | 11,974 | 1,112.43 |
Location
Hitchin is an attractive and affluent market town in the home county of Hertfordshire. Approximately 1-mile north of the town centre is its principle industrial and commercial district, formed along Wilbury Way.
The subject property occupies a prominent position on Wilbury Way. The mainline train station is about 3/4 of a mile away, providing frequent services to Cambridge and London King’s Cross. Furthermore, the A1(M) J8 is approximately 5 miles to the east.
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Mainline Stations
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Hitchin16 mins
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Letchworth Garden City35 mins
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Baldock73 mins
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Arlesey81 mins
Underground Station
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Broxbourne358 mins
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Crews Hill397 mins
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Cheshunt403 mins
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Hadley Wood403 mins
Further Information
Price £1,300,000
EPC Rating This property has been graded as C
Description
The premises are formed of three units (A, B and C), one of which is occupied under a new lease; the other two being available with vacant possession.
Primarily, the premises comprise of industrial/logistics accommodation. There is office accommodation to the front, arranged over ground, first and second floor.
Having undergone comprehensive refurbishment, the premises now benefit from: upgraded electric boards (providing 3-phase power), WCs, LED lighting, carpet tiles and roller shutter access.
There is forecourt parking to the front and allocated parking to the rear. Wilbury Way also provides for road parking.
Terms
We are instructed to seek offers for the freehold interested (subject to the existing tenancy in Unit C) for £1,300,000.
Unit C Investment Summary
• Tenant: Colin Hill Bar & Catering Supplies Ltd.
• Lease Date: 19/12/2024.
• Term: 5-years (expires 18/12/2029).
• Rent: Year 1 = £18,100 | Year 3 = £23,400 | Year 3-5 = £28,500
• Rent Review: N/A.
• Break Option: N/A.
• LTA 54: Excluded (not protected).
• Copy lease available upon request.
VAT
Plus VAT at the appropriate rate.
Legal Costs
Each party is to bear its own costs incurred.
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