Highpoint Village, Station Approach, Hayes, UB3 4FN

Description Highpoint Village is a mixed-use development, spearheaded by the renowned Ballymore Group, offers a dynamic and thriving environment for retail and leisure businesses. The units are ideally located adjacent to the recently opened Hayes & Harlington Crossrail station, ensuring excellent connectivity and an influx of foot traffic. Hayes has seen a steady population increase over the past several years, with ongoing developments attracting a growing number of residents and workers. The local area offers a diverse population, including families, professionals, and students. This is supported by nearby educational institutions and the area's proximity to Heathrow Airport. Location The property is located just moments from the newly opened Crossrail station, providing fast, direct access to Central London in approximately 20 minutes. This enhanced connectivity will make Hayes one of the most desirable locations for both business and residential tenants. The development is well-connected by road, with easy access to the A40 and M4, offering fast routes into London and the wider Thames Valley area. The property is just a short distance from Heathrow Airport, making it an ideal location for both business and leisure customers. Octmarux Ltd The unit was previously operating as a children's soft play centre under the name of "Play Hayes" under the names tenant Octmarux Limited. The previous owner of Octmarux has sold all the shares Octumarux to a local nursery operator "Kiddiecare" with seven units in the area. Further information can be viewed at Held on lease dated 10th October 2023 on effective Full Repairing and Insuring terms for 20 years outside the security of tenure provisions of the Landlord & Tenant Act, thus expiring on 9th October 2043. The current rent payable is £29,500 pa (equivalent to £20 per sq.ft) with 5 yearly upward only, open market rent reviews, the next in October 2027. There is a tenant only break option on 9th April 2027 on 6 months prior notice. In the event that the break is not operated the tenant will be provided four months rent-free. There is a rent deposit of £11,250. Under the terms of the current lease, the tenant is responsible for the payment of Business Rates and Service Charge. The property is being offered for sale on a virtual freehold basis (999 years from 2020 at a peppercorn rent) for £312,000 + VAT (equivalent to £211 per sq.ft). A sale at this level would produce a 9.16% Net Initial Yield. Anti Money Laundering Regulations In accordance with the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, the purchaser will be required to complete identity checks and provide evidence of the source of funds.