Theobald Street, Borehamwood, Hertfordshire
£143.61 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
27,157 sq ft
2,523 sq m
- SECTOR
Land for sale
Key features
- Development Opportunity to construct 37 apartments and a retail outlet for sale . 22 x 2-bed , 15 x 1-bed and a ground floor apartments and a 1722 sqft retail outlet
- The ground floor retail outlet which is 1722 sqft has been very popular already without advertising by national operators at a rental of £100,000.00 per annum.
- The development is in an excellent location fronting the main road of Theobald Street
- 5 Minutes walk from Elstree Borehamwood train station where there is a train every 10 minutes into London central within 20 minutes
- There is currently an income of £80,000.00 plus vat per annum from the existing buildings which after a period the owner only has to serve 3 months notice to get all vacant
Description
Property Address
26-30 Theobald Street, Borehamwood, Hertfordshire, WD6 4SE
Development
Demolition of an existing light industrial estate and the construction of a building that comprises of 37 apartments (22 x 2-bed and 15 1 x bed) and a ground floor retail outlet being 1722 sq ft. See the enclosed particulars.
Temporary Lettings
There are 3 light industrial units in a parade that are to be demolished – units, 3, 4 and 5. These units are currently let on a temporary basis with a combined rental of £80,000 + VAT per annum.
The three leases are for a term of 3 years from 1 December 2026 until 30 November 2029. The leases are opted out of the Landlord and Tenant Act and as from 31 August 2027 the owner can terminate all 3 leases giving 3 months’ notice which is a rolling break clause until the end of each term.
Planning Consent
Planning consent was granted on 8 October 2024, application number 23/1775/FUL.
Contributions would be as follows:-
• Carbon offset payment - £58,700.00
• NHS Payment - £52,968.00
• CIL - £729,852.56
The planning consent was obtained by others.
For our scheme which was approved by committee recently. The decision will be crystalised once the section 106 Deed of Variation is signed.
To confirm the amended scheme does not include any affordable. The above carbon offset and NHS payments would be unchanged and having watched the webcast of the recent committee meeting it was acknowledged that the payment of £279,866.00 towards Highways was not being sought.
Because we have recently had the affordable element removed from the planning consent, the CIL has gone from £651,012.64 to £729,852.56. Later if this figure is reduced the seller will retain whatever is saved.
Offers
Offers are sought for £3,900,000 + VAT (Three million, nine hundred thousand pounds)
Part Exchanges would be considered.
Any further questions please ask.
Brochures
Theobald Street, Borehamwood, Hertfordshire
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Elstree & Borehamwood Station0.2 miles
- Radlett Station2.6 miles
- Stanmore Station2.7 miles
About Mandale Group, Stockton On Tees
Mandale House, Mandale Park, Urlay Nook Road, Eaglescliffe, Stockton on Tees, TS16 0TANotes
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