Offers in region of
£750,000
(£360.58/sq. ft)
Property for sale18-19 George Street, St. Albans, Hertfordshire AL3
2,080 sq. ft
About this property
Attractive grade II listed building
Character location close to The Cathedral & St Albans Boys School
Freehold Investment
Combined rental income of £48,000 reflecting a 6.4% yield
Two self contained retail units
Wealth of character features
Combined income £46,500 per annum
Price £690,000 reflecting net internal yield 6.7%
No VAT payable
18 George Street: Recently let to Maison Selin Ltd at a passing rent of £29,500 per annum on a lease running until 30/09/2041 with tenant break clauses and upwards only rent reviews at year 5 and 10.
19 George Street: Recently let to a new bakery, Glaze, at £18,500 per annum. The lease runs until 05/04/2033 and includes a tenant break clause and a rent review scheduled for April 2028.
Both leases contain full repairing and insuring terms.
Upper Flat: Sold on a 999-year leasehold at a peppercorn rent. Importantly, the owner of the flat assumes a full repairing obligation for the entire building above the ground floor ceiling, including the roof, reducing ongoing maintenance obligations for the freeholder or shop tenants. Please refer to the lease for full details.
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