Summary - 18-19 George Street, St. Albans, Hertfordshire AL3 4ES
1 bed 1 bath Commercial Property
Grade II listed, income-producing high-street investment near St Albans Cathedral..
• Grade II listed timber‑framed high‑street building
• Two ground‑floor retail units plus long‑lease upper flat
• Combined income £46,500 pa; 6.7% net internal yield at £690,000
• One lease expires 09/2029; other until 04/2033 with break clause
• Upper flat held on 999‑year lease at peppercorn rent
• Flat owner responsible for repairs above ground‑floor ceiling
• Listed status restricts alterations and may raise repair costs
• Narrow frontage; compact footprint limits expansion potential
A rare Grade II listed, timber‑framed building on St Albans’ central high street, offered as a freehold investment. The property comprises two ground‑floor retail units and a long‑lease upper flat, producing a combined income of £46,500 per annum and reflecting a net internal yield of 6.7% at the asking price of £690,000. The building displays strong town‑centre footfall, excellent local amenities and close proximity to the Cathedral and well‑regarded schools.
Both retail leases are on full repairing and insuring terms, giving rental stability: one unit let until September 2029, the other until April 2033 (with a tenant break and a rent review in 2028). The upper flat is sold on a 999‑year lease at a peppercorn rent; importantly that lease places responsibility for repair of the building above ground‑floor ceiling with the flat owner, reducing the freeholder’s immediate maintenance liabilities.
Material considerations are straightforward: the Grade II listing brings statutory constraints that will restrict alterations and could complicate refurbishment or conversion. The site has a narrow street frontage and a compact footprint, limiting expansion potential. Prospective purchasers should check lease details carefully (break clause, rent review timings, and the extent of the flat owner’s repairing obligations) and allow for listed‑building maintenance costs where applicable.
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