1. Realla
  2. Shops, retail for sale
  3. London
  4. Welwyn Garden City
Analyse market data for Welwyn Garden City

Shops, retail units for sale in Welwyn Garden City

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1 shop, retail unit

  1. 4-24 Howardsgate & 6-8 Wigmore South, Welwyn Garden City, AL8 6BQ

    Retail for sale

    • £5,600,000
    • 840 sq ft
    • Car park
    • Office space
    • Restaurant
    • Train transport
    • Transport

    Prime pitch retail parade located in the centre of Welwyn Garden City.
    □ Welwyn Garden City is an affluent, well-connected South East commuter town.
    □ Prominent position on Howardsgate, Welwyn Garden City’s dominant high street retail pitch.
    □ Excellent footfall location, with Sainsbury’s supermarket and car park to the rear, accessed via Wigmore South.
    □ Nearby occupiers include Cote Brasserie, Bills, Pizza Express, Halifax, Costa and Prezzo.
    □ Currently configured as 8 retail units and 4 residential apartments.
    □ The retail is multi let to eight tenants including Superdrug, Zizzi’s Restaurant, Martins & Co, Cancer Research and The Salvation Army.
    □ Attractive Average Weighted Unexpired Lease Term of 8.2 years to expiries and 5.9 years to breaks.
    □ Total passing rent of £406,450 per annum.
    □ Reversionary potential to £413,171 per annum.
    □ Highly secure income with 93% rated by Creditsafe as Low Risk or Very Low Risk covenants.
    □ Strong trading pitch with recent lease regears demonstrating tenant commitment to the location and only two unlet units on Howardsgate.
    □ Virtual freehold – 999 year interest at a peppercorn rent.
    □ Asset management opportunities to regear leases with existing occupiers, convert the office space to residential.
    □ Seeking offers in excess of £5,600,000.  Allowing for £1,100,000 for the residential element and Purchaser’s costs of 6.61% this reflects an attractive Net Initial Yield 7.36%.

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