Albans Well, 55 St. Peters Street, St. Albans, AL1 3DY

Description
The Albans Well occupies part of the ground floor of a four storey modern development which was created from a former BHS department store. The property was comprehensively refurbished with the Albans Well opening in 2021. Externally the property has the benefit of external seating for approximately 64 covers which fronts Cattle Walk which is held by way of a pavement licence.

Location
St Albans is an affluent cathedral city in Hertfordshire which is located 25 miles north of London and 6 miles north west of Watford. It is easily accessible to both the M1 and M25 Motorways and has regular train service into London with journey times into London St Pancras from 19 minutes making it a popular location for commuters. The Albans Well is located in the heart of the city centre on St Peter’s Street at its junction with Cattle Walk. The property sits beneath a 130 bed Travelodge Hotel and is adjacent to Black Sheep Coffee. Other occupiers nearby include M&S, Itsu, Costa Coffee, Tesco, Saint & Sinner (McMullen’s) and the Beech House (Oakman Inns).

Tenure
The property is held by way of a lease for a term expiring on 8th December 2040 at a current rent of £135,000 per annum. The rent is subject to upwards only rent review on 9 December 2025 and five yearly thereafter with reviews increased in line with the RPI index subject to a minimum increase at each review of 5% and maximum increase of 15%.

Premises Licence
The property has the benefit of a Premises Licence which permits the sale of alcohol at the following times;
Thursday-Saturday – 10am-1am
Sunday-Wednesday – 10am-12am

Rateable Value
2023 - £150,000.

Trading Information
Trading information from when the premises were trading may be made available to interested parties upon written request.

EPC
B - 34.

VAT
The property is elected for VAT.

Service Charge
The property is subject to a service charge further details of which are available upon request.

Viewings
The premises have ceased trading so all viewings must be made by prior appointment with the sole agents Savills.

Terms
The premises are available without premium.

Money Laundering
Prospective purchasers will need to provide proof of identity and residence as part of Savills mandatory anti money laundering checks.

Further Information
For further information please contact;

Paul Breen
Tel:


Jack Phillips
Tel:
jack.