Summary - 18-19 George Street, St. Albans, Hertfordshire AL3 4ES
1 bed 1 bath Commercial Property
Two retail units with stable income and characterful frontage near the Cathedral.
Freehold Grade II listed building in central St Albans
Two retail units plus long‑leased upper flat; combined income £46,500 pa
18 George St: let to The Bride until 10/09/2029 at £28,000 pa
19 George St: let to Glaze until 05/04/2033 at £18,500 pa; break clause and 2028 rent review
Upper flat on 999‑year lease; tenant liable for roof and upper repairs (see lease)
Small rear courtyard for both units; timber‑framed historic frontage
Listed status restricts alterations and may increase consent/repair costs
Narrow street frontage and compact footprint limit expansion potential
This Grade II listed, timber‑framed building on George Street offers a rare freehold investment in the heart of St Albans, close to the Cathedral and established schools. The property comprises two street‑facing retail units producing a combined income of £46,500 pa and a long‑leased upper flat. The building’s historic frontage and exposed timber detailing give immediate kerb appeal to shoppers and diners in a busy town‑centre location.
Lease terms provide income stability: 18 George Street is let to The Bride until September 2029 at £28,000 pa; 19 George Street is let to bakery Glaze until April 2033 at £18,500 pa (includes break clause and rent review April 2028). Both retail leases are full repairing and insuring. The upper flat is on a 999‑year lease at a peppercorn rent and carries responsibility for repairing the building above the ground‑floor ceiling, which reduces the landlord’s direct maintenance exposure — buyers should check the full lease wording for exact obligations.
Strengths include town‑centre footfall, attractive period character, a small rear courtyard for both units, and potential for rental growth at review points. Material considerations: listed status may restrict alterations and add consent costs; the footprint is compact with a narrow frontage; one retail lease has an approaching mid‑term break clause and rent review that could affect future income. The asking price of £690,000 reflects a net internal yield of 6.7% and no VAT is payable.
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