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Shop for sale

Marlowes, Hemel Hempstead, Hertfordshire

1,093 sq. ft. | £80,000

Property Description

Commercial information

  • 1,093 sq ft (101 sq m)
  • Use class orders: A3 Restaurants and Cafes

Key features

  • A well located main road shop/fully licensed A3 restaurant and takeaway established 3 years ago approx to be found at the Old Town end of this continuously evolving new town close to the Civic Centre/
  • Also Hemel Hempstead mainline railway station, Jarman Square Leisure Centre and access to the M1 motorway nearby.
  • The property comprises on the ground floor the following.
  • Restaurant 609 sq ft approx with seating capacity for 38 persons.
  • Kitchen 122 sq ft approx fully fitted.
  • Separate external storage at the rear 362 sq ft approx.
  • Separate male and female toilets.
  • The residential upper part comprises a self contained 2 bedroom flat with internal access only and currently let on an informal monthly basis and producing an income of 1,000 per calendar month.
  • Lease on a

Full description

Warren Anthony Commercial are delighted to bring to the market this well located main road shop/fully licensed A3 restaurant and takeaway established 3 years ago approx to be found at the Old Town end of this continuously evolving new town close to the Civic Centre/Library and Dacorum Campus/West Herts College with the town centre with its excellent shopping facilities, Marlowes Shopping Centre, coffee shops, bars and restaurants nearby.

Also Hemel Hempstead mainline railway station, Jarman Square Leisure Centre and access to the M1 motorway nearby.

The property comprises on the ground floor the following.
Restaurant 609 sq ft approx with seating capacity for 38 persons.
Kitchen 122 sq ft approx fully fitted.
Separate external storage at the rear 362 sq ft approx.
Separate male and female toilets.

The residential upper part comprises a self contained 2 bedroom flat with internal access only and currently let on an informal monthly basis and producing an income of £1,000 per calendar month.

Lease on a full repairing and insuring basis renewable for a term of 25 years from April 2012 subject to 5 yearly upward rent reviews.

Rental £15,000 per annum exclusive.

Premium £80,000 subject to contract for the benefit of the lease, business, goodwill, fixtures and fittings.

Opening hours Monday - Closed. Tuesday, Wednesday, Thursday and Sunday 5 pm - 10.30 pm. Friday and Saturday 5 pm - 11 pm.

Turnover with a current turnover we understand to be between £3,500 - £4,000 per week/£180,000 - £200,000 per annum with a net profit in the region of £40,000 - £50,000 per annum but offering much potential for higher figures subject to maybe longer opening hours and outside catering.

Staff owner managed with 3 full time and 3 part time staff.

Business rates with a rateable value of £17,000 with rates payable we are informed by the current owner to be £7,000 per annum. However, all interested parties are recommended to make their own enquiries to the local rating department at Dacorum Borough Council.

Legal costs to be confirmed.

Local authority Dacorum Borough Council.

Warren Anthony will charge a fee of £250 plus VAT for taking up references for any proposed tenant. This fee is non refundable after the references have been applied for whether they are accepted or not by the landlord.

A holding deposit will be required to secure the property. The deposit will buy a period of exclusivity and will be held in the Warren Anthony client account.

Any fixtures, fittings, equipment, machinery and plant which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition.

Warren Anthony for themselves for the Lessors, Vendors and their agents give notice that,

1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries.

2. These details do not constitute any part of an offer or contract.

3. All statements or details contained within these particulars are without any responsibility on any part to Warren Anthony.

4. All rent, prices, fees and charges are quoted exclusive of VAT.

For more information or appointment to view please contact our Watford office on either 01923 220 012.

Important Notice
We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller.


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