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Albert Bygrave Retail Park, North Orbital Road, St Albans, AL2 1DL

Guide Price
£9,000,000

Business rates & charges may apply

GLPG, Marylebone
SIZE

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SECTOR

Retail property retail park for sale

Site Plan
1

Key features

  • The site consists of the front element of the retail park
  • Arranged as 10 units, with an additional 2 Units (C5 and C9) sold off on long leases
  • Approx. 140 car parking spaces
  • Current income for the 9 let Units is £533,604 per annum, plus fixed increases within several of the Leases
  • One of the 10 Units is currently under refurbishment, in readiness to re-let for further income
  • Strong Tenant profile including Wenzels, Costa, Loaf and Dominos
  • Potential for significant rental uplift with a ERV of approx. £765,000 by 2033
  • Longer-term asset management & development opportunities, subject to obtaining the necessary planning consents

Description

The site lies in a prominent position, situated on the North Orbital Road, consisting of a multi-let retail park which is being sold with the benefit of existing income.

The site is arranged as ten units with an additional two units (C5 and C9) sold off on long leases.

There are approx. 140 car parking spaces on site, including EV charging for 6 cars. The site is regulated by a ANPR parking system, run by Smart Parking, which records over 20,000 vehicle movements per month.

The North Orbital Road (A414) has over 100,000 vehicles pass the site per day.

Comprehensive CCTV coverage is installed across the entire site.

The current annual income is £533,604 per annum, with an ERV of approx. £765,000 per annum by 2033.

There is a potential for significant rental uplift through a combination of fixed increases within the existing leases, letting vacant units (C2/C3), and longer-term asset management.

There may be an opportunity for future redevelopment of the site, subject to obtaining the necessary planning consents.

Energy Performance Certificates

Unit C6BUnit C7Albert HouseAlbert HouseUnit C7BUnit C7 Unit C1BUnit C2Unit C7AUnit C1 & C1AUnit C6BUnit C1CUnit C7Unit C7Unit C1 & C1AUnit C1CUnit C1BUnit C2Unit C7A

Brochures

Marketing Brochure

Albert Bygrave Retail Park, North Orbital Road, St Albans, AL2 1DL

Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Park Street Station1.5 miles
  • St. Albans Station1.7 miles
  • St. Albans Abbey Station1.8 miles

Notes

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Disclaimer - Property reference Bygrave. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by GLPG, Marylebone. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data ©OpenStreetMap contributors.

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