AL5 29 & 29A High Street, Harpenden

Prime freehold retail investment in prime trading position on the High Street, Harpenden.

The property comprises two ground floor retail units with part storage at first floor, together with five residential flats above that are self-contained with an entrance from the high street, that have been sold off.

Mountain Warehouse occupy part of the ground floor. The other half of the ground floor is occupied by WH Smith where there is a Long Leasehold of their unit at a peppercorn rent. There are five residential flats, each sold on 125 year leases from 25th December 2007.

The property is available to purchase by way of a sale & leaseback to Mountain Warehouse Ltd on the basis of a new, effectively full repairing and insuring lease, for a term of 10 years without break with an upward only rent review at year 5. The commencing rent will be £100,000 per annum exclusive and with the benefit of the residential ground rent income of £500 pa.

In accordance with AML Regulations, the successful purchaser will be required to satisfy the Vendor on the source of funds for the acquisition.

Harpenden is a prosperous town located 25 miles to the northwest of London in the county of Hertfordshire. The town has a resident population of close to 30,000. Over 50% are within the sector of Wealthy Achievers, Suburban Area, compared to an average of 15% across the UK.

Major retailers in town include Waitrose, Marks & Spencer, Cotswold, Sainsburys, Waterstones, Boots and a wealth of quality independent retailers and restaurateurs.

Harpenden has excellent communications being situated three miles east of the M1 motorway, which in turn links to the M25. London Thameslink is a line on the South East commuter network providing direct journeys into London St Pancras, with 7 trains per hour and a fastest journey time of 26 minutes.

Affluent and desirable London commuter town

Substantial and attractive building located in 100% prime trading position on High Street

Freehold

New lease-back to Mountain Warehouse Ltd providing a total of 10 years unexpired term certain

Attractive covenant

Mountain Warehouse have been trading successfully here for over ten years

Lease-back rent of £100,000 per annum, which reflects £100 Zone A providing excellent prospects for rental growth

The freehold includes adjoining WH Smith's and five residential flats sold off on a LLH basis