24 George Street, St. AlbansRetail Investment | £575,000 (Offers in excess of) | Under Offer
The property is located on George Street within the attractive St Albans city centre and benefits from good visibility. George Street is adjacent to the main shopping areas of Market Place and Chequers Street. George Street has a variety of uses and predominantly contains independent operators such as Amalily London (Jewellers), The Abbey (Restaurant), Galio (Jewellers) Earleys’s (Women’s clothing store), The Shaker (Kitchen furniture) and many more.
St Albans is one of the principal commercial centres in Hertfordshire with a district population of approximately 147,000. The town is served by the M1 motorway (J6 and J8) and is approximately 3.6 miles from the M25 (J20/J21). The town is served by the Thameslink railway with the station being approximately 0.7 miles from the property.
The property is let on a lease for 10 years on full repairing and insuring terms expiring on 28 January 2023 at an annual rent of £29,500 per annum. Renewal terms have been agreed with the tenant for a new lease term of 10 years subject to a tenant 5 year break at a rent of £31,000 per annum exclusive.
The property comprises a mid-terraced building within the Conservation Area. The premises are arranged over three floors. The ground floor is currently used as a hairdressing salon with the upper floors being used as treatment rooms and/or storage. To the rear is a small courtyard. We believe the property is Grade II Listed.
24 George Street
2,229 Sq. ft