Summary - 29A, HIGH STREET AL5 2RU
1 bed 1 bath Retail Property (high street)
Prime freehold retail with 10-year leaseback to Mountain Warehouse and strong rental upside.
- Prime trading position on Harpenden High Street
A rare freehold retail investment in Harpenden’s prime High Street, offered with a new 10-year full repairing and insuring lease-back to Mountain Warehouse Ltd producing £100,000 pa. The building is an attractive Victorian, prominently positioned in a busy pedestrianised trading pitch, with excellent commuter links to London and a wealthy local catchment supporting strong retail footfall.
The freehold title includes two ground-floor retail units and five self-contained residential flats sold on long leases (125 years from 2007, c.115 years remaining). One retail half is let to Mountain Warehouse under the new lease; the adjoining WH Smith unit is held on a long lease at a peppercorn rent so generates no meaningful income. Residential ground rent adds a modest £500 pa.
Strengths are the prime trading location, secure covenant from an established national occupier, and clear rental growth potential from a Zone A start of £100. Material considerations: the WH Smith unit is long-leased at a peppercorn (restricting immediate income from that unit), residential flats have been sold off so future landlord control is limited, and the town centre crime level is noted as very high. The purchaser will need to comply with AML/source of funds checks prior to completion.
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