Commercial property
Sold Mixed Use, Freehold Investment with Asset Management and Development Potential : Orchard Road, Royston, Hertfordshire

Summary

• Located in the south east in a residential area, adjacent to a mainline train station
• Royston lies within the Oxbridge Growth Corridor
• Freehold
• Multi let to four tenants in five units, comprising a mix of industrial, office and retail units
• The property provides 3,603.14 sq m (38,785 sq ft) on a total site of 1.62 acres (0.66 hectares) with a low site cover of approximately 30%
• WAULT of 6.62 years to expiry and 3.59 years to break
• 60% of the income is secured against D&B 5A1 covenants
• Current income of £321,484 per annum equating to £8.29 per sq ft overall
• Offers are sought in excess of £4,310,000 subject to contract and exclusive of VAT for our client's freehold interest reflecting a net initial yield of 7.00% assuming purchaser's costs of 6.56%
• Attractive low Capital Value rate of £111.13 per sq ft /residential values at £430 per sq ft
• Phased residential redevelopment potential with a total site value in excess of £5,000,000 subject to securing planning consent