18-19 George Street, St. Albans, Hertfordshire

Property Details: • Type: Commercial Property • Tenure: N/A • Floor Area: 2080 sqft

Key Features: • Attractive grade II listed building • Character location close to The Cathedral & St Albans Boys School • Freehold Investment • Rear Courtyard for both units • Two self contained retail units • Wealth of character features • Combined income £46,500 per annum • Price £690,000 reflecting net internal yield 6.7% • No VAT payable

Location: • Nearest Station: St. Albans Abbey Station • Distance to Station: 0.48193136263568154 miles

Agent Information: • Address: King House, 55Victoria Street, St. Albans, AL1 3ER

Full Description: This attractive three-storey end-of-terrace freehold property comprises two ground-floor retail units and a self-contained two-bedroom flat above (which is sold off on a long leasehold). The building is full of character and offers stable income with potential for rental growth.<br /><br />18 George Street: Let to The Bride at £28,000 per annum. The lease runs until 10/09/2029.<br /><br />19 George Street: Recently let to a new bakery, Glaze, at £18,500 per annum. The lease runs until 05/04/2033 and includes a tenant break clause and a rent review scheduled for April 2028.<br /><br />Both leases contain full repairing and insuring terms. <br /><br />Upper Flat: Sold on a 999-year leasehold at a peppercorn rent. Importantly, the owner of the flat assumes a full repairing obligation for the entire building above the ground floor ceiling, including the roof, reducing ongoing maintenance obligations for the freeholder or shop tenants. Please refer to the lease for full details.