Albans Well, 55 St. Peters Street, St. Albans, AL1 3DY

Description
The Naturalist occupies part of the ground floor of a four storey modern development which was created from a former BHS department store. The property was comprehensively refurbished with the Albans Well opening in 2021. Externally the property has the benefit of external seating for approximately 64 covers which fronts Cattle Walk which is held by way of a pavement licence.

Location
St Albans is an affluent cathedral city in Hertfordshire which is located 25 miles north of London and 6 miles north west of Watford. It is easily accessible to both the M1 and M25 Motorways and has regular train service into London with journey times into London St Pancras from 19 minutes making it a popular location for commuters. The Albans Well is located in the heart of the city centre on St Peter’s Street at its junction with Cattle Walk. The property sits beneath a 130 bed Travelodge Hotel and is adjacent to Black Sheep Coffee. Other occupiers nearby include M&S, Itsu, Costa Coffee, Tesco, Saint & Sinner (McMullen’s) and the Beech House (Oakman Inns).

Tenure
The property is held by way of a lease for a term expiring on 8th December 2040 at a current rent of £135,000 per annum. The rent is subject to upwards only rent review on 9 December 2025 and five yearly thereafter with reviews increased in line with the RPI index subject to a minimum increase at each review of 5% and maximum increase of 15%.

Premises Licence
The property has the benefit of a Premises Licence which permits the sale of alcohol at the following times;
Thursday-Saturday – 10am-1am
Sunday-Wednesday – 10am-12am

Rateable Value
2023 - £150,000.

Trading Information
Trading information may be made available to interested parties upon written request.

EPC
B - 34.

Fixtures and Fittings
The sale of the property will include trade fixtures and fittings which are in the absolute ownership of the Vendor and in situ on completion. Any branded or lease items owned by third parties will be removed.

VAT
The property is elected for VAT.

Service Charge
The property is subject to a service charge further details of which are available upon request.

Viewings
Staff are unaware of our clients intention to dispose of this property. Consequently all customer visits must be carried out discreetly and under no circumstances should any direct approach be made to any members of staff. Should you wish to view the property then make a prior appointment via the sole selling agents Savills.

Terms
Offers are invited for the benefit of our clients leasehold interest.

Money Laundering
Prospective purchasers will need to provide proof of identity and residence as part of Savills mandatory anti money laundering checks.

Further Information
For further information please contact;

Paul Breen
Tel:


Jack Phillips
Tel:
jack.