29-31 St Peter’s Street, St Albans, AL1 3DP

Prime South East Retail & Residential Investment

• St Albans is one of the UK’s most affluent and desirable Cathedral Cities, located just 20 miles north east of Central London.
• Situated on the prime retail thoroughfare of St Peter’s Street
• Two attractive, very well located retail buildings, let to the robust covenants of Costa Limited and Vision Express (UK) Limited, together with two residential flats let on ASTs
• Weighted average unexpired lease term on the commercial income of 7.47 years (5.44 years to break)
• Well secured income stream and rebased rents following two lease renewals in September 2024.
• Potential to extend further above Vision Express, subject to planning.
• Freehold. The property is held on two separate titles. There is future scope to split and sell separately.

Proposal

We are instructed to seek offers in excess of £3,335,000 (Three Million, Three Hundred and Thirty-Five Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this level would reflect an attractive net initial yield of 6.75% on the commercial income and £435 psf on the residential accommodation, after allowing for standard purchaser’s costs.

For further information or to arrange a viewing please contact Ben Tyack