Nu-World, Peacock Court, Ringlet Road, Hemel Hempstead, Hertfordshire HP2 7DP
Barnett Ross Property AuctioneersBarnett Ross was formed in October 2002, drawing upon the combined 60 year's auction experience of John Barnett and Jonathan Ross, and immediately established itself as one of the largest independent auction houses in the U.K.
Read more Read moreLot 13 Click here for addendum Leasehold Commercial Investment Gross Yield 9.2% 6 Week Completion Situation Located just off Three Cherry Trees Lane in the Barratt Homes Swallow Fields Development which comprises approx. 400 homes, opposite a One-Stop Convenience Store and being approx. 2½ miles from the Town centre. Hemel Hempstead lies approx. 3 miles from St Albans and is close to the M1 (Junction 8) being approx. 25 miles north-west of central London. Property Built in 2018, the property forms part of a purpose built 4 storey building comprising a Ground Floor Commercial Unit which has frontages/entrances on both Ringlet Road and Three Cherry Trees Lane. In addition, the property includes 4 Parking Spaces . Note: We understand the tenant spent approx. £87,500 on fitting out the premises. Accommodation Ground Floor Commercial Unit GIA Approx. 1,990 sq ft VAT is applicable to this Lot Tenure Leasehold for a term of 199 years from 6th December 2018 at a peppercorn ground rent. Tenancy The property is let on a full repairing and insuring lease to NU-World CIC (with 2 personal Guarantors) t/a Nu World (Preschool Play Centre with Cafe) for a term of 10 years from 21st September 2020 at a current rent of £30,000 per annum exclusive. Rent Review & Tenant's Break 2025 There is a £9,000 (incl. VAT) Rent Deposit held.
