Retail premises for sale

95-98 Bancroft, Hitchin SG5

Description

The subject premises are arranged over ground and first floor, accessed via Bancroft and a communal courtyard to the rear. They comprise three retail units (two of which have first floor space) and a first floor flat. The commercial occupiers include a physiotherapist, a nail salon and a cocktail bar. The premises combine 2,688 sqft (251.84 m2).

Location

Hitchin is an attractive and affluent market town in the home county of Hertfordshire, benefiting from good public parking provisions, road links to the A1(M) and a mainline train station with frequent and high speed services to both Cambridge and London King’s Cross.

The subject premises occupy a prominent and pavement-lined position within Hitchin town centre. The surrounding area is characterised by historic buildings together with a mixture of commercial and residential premises.

Hitchin was voted “No.1 town to live in Hertfordshire 2025” by lifestyle brand Muddy Stilettos.

Terms

The premises are available to buy on a freehold basis, subject to the existing tenancies, for £900,000.

Investment Profile

Hitchin is an affluent town with a vibrant retail, hospitality and leisure scene. Freehold premises seldom come to the open market. This proposed sale offers a buyer the opportunity to enter an attractive investment market or to expand upon their existing investment portfolio in the town.

The premises are fully tenanted and income producing with leases expiring up to 2040. The current rent roll = £72,350 pa. A tenancy schedule is available upon request together with copy lease documents.

VAT

We are advised that the property is not elected for VAT and therefore there shall be no VAT payable on the sale price.

Costs

Each party is to bear its own costs incurred.