Block of flats for sale

7 & 8 Furzehill Parade, Shenley Road, Borehamwood, Hertfordshire WD6

For sale by auction 23/10/2025 £1,100,000 - £1,150,000
Freehold investment - double shop & two flats



Location & Description
A double-fronted property comprising a ground floor shop with rear access to 2 self-contained flats above.
Located within the heart of the town centre and amongst a number of multiple retailers including Ladbrokes, Nando's and Starbucks whilst also being close to the Borehamwood Shopping Park. Elstree & Borehamwood station (Thameslink) is within mile.

Accommodation
Ground Floor: 1,468 sq ft (136.3 sq m) plus toilet
Two Split-Level Flats: Not Inspected - Each 2 bedrooms (one with en-suite), living room, kitchen, bathroom/toilet

Tenancy Details
Double Ground Floor Shop: Let on a repairing and insuring lease (subject to a schedule of condition) to Rennie Grove Peace Hospice Care for 10 years from 01.04.2022 at a current rent of £46,000 p.a. Rent Reviews 2025 (outstanding) and 2030 based on rpi. Tenant's break 31.03.2027 on 6 months' notice. Provisions of Sections 24-28 of the L&T Act 1954 (security of tenure) excluded.
Flat 1,7 Furzehill Parade: Let on a 12 month AST from 28.08.2021 (holding over) at a current rent of £1,750 pcm. The tenant has recently informed the Landlord that they are unable to pay any rent.
Flat 1,8 Furzehill Parade: Let on a 12 month AST from 06.12.2024 at a rent of £1,750 pcm.

Note
1. In respect of the outstanding rent review, the rent is calculated to be £56,024.73 p.a. (based on rpi). The tenant has offered an increase to £50,265 p.a. With an additional one off payment of £5,850.
2. We understand the property includes 8 parking permits (4 per building) in the rear car park. Two are currently allocated to the shop and one to each flat.
3. Video tour of the flat taken prior to current letting.
Auction Surveyor: Robert Woolfe
Contact:

Producing £88,000 P.A. (with outstanding rent review - see note 1)

EPC Rating
Commercial = tbc Both Flats = C