16-22 Theobald Street, Borehamwood, Hertfordshire WD6 4SE

An income producing Freehold building comprising a mix of retail space, offices & an HMO

Key Information

Location

Borehamwood, WD6

Planning Status

HMO License & Associated Consents

Price

£ On Application

Description

Investment/Development Opportunity

Data Room

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Overview

A rare opportunity to secure a prominent building, located just 600 feet from Elstree & Borehamwood Railway Station.

The building offers excellent asset management opportunities in addition to potential re-development, subject to all necessary consents.

Currently let to a mix of tenants, comprising 10 x HMO letting rooms, a plumbing, kitchen & bathroom store, storage area & showroom, a single-let spacious office and a dry cleaner.

The current income is approx. £128,000 per annum which we understand to be highly reversionary. Plumbco is holding over and has not had a rent review in a number of years. The second-floor B1 office space is currently sub-let by Plumbco and there may be an opportunity to separate this whilst negotiating the terms of a new lease with Plumbco.

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Investment Summary

  • A Freehold building comprising 10 x HMO Single Letting Rooms, 4 x A1 Retail Units & B1 Office Space
  • The HMO’s are split into two sections (1 x 4-room & 1 x 6-room), the 6-room HMO benefits from an HMO license, however, it is our understanding that the 4-room HMO does not require a license
  • Freehold interest offered for sale
  • Highly reversionary income, currently approx. £128,000 per annum
  • Existing GIA Approx: 6,653 sq. ft. / 619 sq. m.
  • Prominent site measuring approx. 5,484 sq. ft. / 509.47 sq. m. /  0.12 acres, including approx. 10 car parking spaces to the rear

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