Retail premises for sale

Marlowes, Hemel Hempstead, Hertfordshire HP1

Prime Mixed-Use Freehold Investment & Development Opportunity

An exceptional opportunity to acquire a prominent mixed-use freehold asset located within the heart of Hemel Hempstead town centre, benefiting from strong income generation and significant future development potential.

The property is currently arranged as a ground floor commercial unit and first floor office accommodation, producing a combined rental income of £58,500 per annum.

Investment Summary

Ground Floor Commercial Unit

Let on a 15-year lease
Lease commencement: March 2025
Passing rent: £32,500 per annum
Accommodation extends to approximately 223 sq m (2,400 sq ft)

First Floor Offices (Use Class B1)

Let on a 5-year lease
Lease commencement: January 2025
Passing rent: £26,000 per annum
Accommodation extends to approximately 241 sq m (2,594 sq ft)

Total Income

£58,500 per annum
Development Potential

The property benefits from pre-application drawings for the conversion and redevelopment of the upper parts to provide 14 residential apartments, with parking to the rear presenting a rare opportunity to enhance value through residential development, subject to obtaining the necessary consents.

Location

158 Marlowes occupies a prominent position within Hemel Hempstead town centre, a well-established commercial and residential location benefiting from a wide range of retail, leisure and transport facilities. The property enjoys excellent connectivity via the A41, M1 and M25 motorway networks, together with direct rail services from Hemel Hempstead station into London Euston.

Key Features
Freehold mixed-use investment
Strong annual income of £58,500
Ground floor commercial premises let on a new 15-year lease
First floor offices let on a new 5-year lease
Total accommodation of approximately 464 sq m (4,994 sq ft)
Pre-application scheme for 14 residential flats
Asset management and development opportunities
Town centre location

For further information, tenancy documentation or development proposals, please contact the sole selling agent.