Brent Yard, Travellers Lane, Welham Green

LOCATION

The property occupies a highly strategic and accessible location at the north point of the M25.

It is within a main industrial estate which is accessed from J2 of the A1(M) (2 miles) and then approximately 5 miles from J23 M25 (South Mimms).  Alternative access to J24 is via Potters Bar.

The A414 dual carriageway provides a fast link to the east M1 at J6 & 7.

The towns of Potters Bar, Borehamwood, St Albans and Hatfield are all close by.

The property is immediately next to Welham Green station which provides a fast electrified service to London Kings Cross/St Pancras.

DESCRIPTION

A roughly level area of land of a slightly irregular shape as shown on the plan which has a full concrete surface and is fully finished as an HGV transport depot.

Features include:-

• Heavy duty electric sliding entrance gate across a wide splayed HGV recessed entrance area.
• Full palisade security fencing approx. 3m high
• Heavy duty concrete yard surface
• Floodlighting

Please note, in addition to its existing use, the site is considered suitable for the construction in whole or in part of warehouse, workshop or office accommodation.

TENURE

The site is to be sold freehold subject to a lease to Hallett Silberman Limited ending March 27 2023.  The lease was entered into as part of a sale of a company in 2014.

The rent payable is £82,820 which was fixed at the commencement without review.  The lease does not exclude provisions in sections 24-28 of the Landlord & Tenant Act 1954.  No notices have been served.

The lease is guaranteed by R Swain & Sons Ltd who have an AAA ICMS credit rating.

To note, the tenant also leases a warehouse unit to the west to which direct access is taken from this yard but there are no rights to do so if there was a different occupational tenant to the current lessee.

NOTE

We consider the current rental value to be in excess of £4.00 psf (£218,000 p.a.)

GUIDE PRICE

£3,500,000 plus VAT  

PLANNING

The site is wholly located within the main Welham Green employment area with a presumption in favour of B1, B2 or B8 use.  It is subject to an Article 4 Direction.

At an informal consultation with the local planning authority (Welwyn & Hatfield Council) in 2018 in principle approval was indicated for a redevelopment of a 4-storey self-storage facility of over 87,000 sq ft.  (Copy available on request).

APPROX. (GIA) SITE AREAS

1.25 acres

RATEABLE VALUE

Please see the VOA website. We believe it has a current helpfully low Rateable Value of £17,500.

INSPECTION

For further information please contact Mike Davies or Daniel Hiller at Davies & Co or joint agents Aitchison Raffety (Mark Bunting)

NOTE

Unless otherwise stated all prices, rents or other stated costs are subject to VAT.

Under Anti-Money-Laundering Regulations we are required to obtain proof of identity for individuals and controlling Directors.

Energy Performance Certificate - Not applicable