Large freehold retail parade with redevelopment and residential conversion potential..
Freehold parade of three retail units with vacant possession
A substantial freehold parade of three vacant retail units on Watford’s pedestrianised High Street, offered with immediate vacant possession and clear uplift potential. The buildings provide 3,557 sq ft NIA (3,860 sq ft GIA) and a commercial ERV around £100,000 per annum, making this a straightforward acquisition for a developer or investor seeking town-centre regeneration opportunities.
The upper parts already present practical value-add options under Permitted Development Rights for residential conversion, and the adjoining taller properties indicate scope to seek consent for at least two additional storeys. Practical considerations such as flat roofs and a traditional brick façade mean external works and structural design will be central to any scheme; the asset is best suited to a buyer prepared to manage planning, design and construction phases.
Location advantages include a central, high-footfall position with excellent mobile signal and fast broadband, close to major amenities and top-performing schools. Material drawbacks are significant: the area records very high crime levels and the surrounding classification is inner-city constrained neighbourhoods, which may influence tenant mix, rental assumptions and insurance costs. The guide price is £1,100,000 plus VAT — buyers should factor professional fees, potential remediation or refurbishment works, and planning risk into acquisition costs.
In short, this is a large, well-located freehold retail parade with clear redevelopment and rental upside for a buyer with planning experience and an appetite for urban regeneration in a busy town-centre setting.