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Cranborne Rd - Knuway House 1,171 sq ft Retail Unit Offered at £325,000 in Potters Bar EN6 3JN
Investment Highlights
- The property is being sold with a new 10-year lease in place to an established specialist occupier.
- The investment generates an initial rent of £20,000 per annum exclusive.
- Alchemy Parts Ltd has occupied the premises continuously since 2007 under current and predecessor entities.
Executive Summary
Unit 4 Knuway House is a refurbished mid-terrace business unit located on Cranborne Road within Cranborne Industrial Estate, Potters Bar. The property is arranged over ground and first floors and includes an open-plan showroom area, first-floor office accommodation, a toilet and tea station, feature LED lighting, a glazed sliding loading door and power distribution. Four allocated parking spaces are provided, with two spaces to the front and two to the rear. The permitted use is Class E(g)(iii) and B8. The property is held on a 999-year lease from April 2007 at a fixed peppercorn rent.
1 Unit Available
- Unit
- Unit Size
- Unit Use
- Price
- NOI
| Sale Type | Investment | Tenure | Long Leasehold |
| Net Initial Yield | 6.15% |
| Sale Type | Investment |
| Net Initial Yield | 6.15% |
| Tenure | Long Leasehold |
Description
Property Type: Business Unit / Industrial Investment
Address: Unit 4 Knuway House, Cranborne Road, Potters Bar, Hertfordshire EN6 3JN
Gross Internal Area (GIA): 1,171 sq ft
Ground Floor: 618 sq ft
First Floor: 553 sq ft
Tenure: Long Leasehold (999-year lease from April 2007)
Asking Price: £325,000 + VAT
Passing Rent: £20,000 per annum exclusive
Initial Yield: Approximately 5.9% (assuming purchaser costs of 6%)
Rent per Sq Ft: £17.08 per sq ft per annum
Tenant: Alchemy Parts Ltd
Lease Term: New 10-year lease
Break Option: Tenant-only break at Year 5
Rent Review: Year 5
Repairing Basis: Full Repairing and Insuring (subject to schedule of condition)
Use Class: E(g)(iii) and B8
Parking: 4 allocated spaces
EPC: D (85)
Business Rates: Payable by the tenant
Address: Unit 4 Knuway House, Cranborne Road, Potters Bar, Hertfordshire EN6 3JN
Gross Internal Area (GIA): 1,171 sq ft
Ground Floor: 618 sq ft
First Floor: 553 sq ft
Tenure: Long Leasehold (999-year lease from April 2007)
Asking Price: £325,000 + VAT
Passing Rent: £20,000 per annum exclusive
Initial Yield: Approximately 5.9% (assuming purchaser costs of 6%)
Rent per Sq Ft: £17.08 per sq ft per annum
Tenant: Alchemy Parts Ltd
Lease Term: New 10-year lease
Break Option: Tenant-only break at Year 5
Rent Review: Year 5
Repairing Basis: Full Repairing and Insuring (subject to schedule of condition)
Use Class: E(g)(iii) and B8
Parking: 4 allocated spaces
EPC: D (85)
Business Rates: Payable by the tenant
Sale Notes
Unit 4 Knuway House presents an opportunity to acquire a refurbished business unit investment within the established Cranborne Industrial Estate in Potters Bar. The property is offered for sale at £325,000 plus VAT by way of a 999-year leasehold interest from April 2007 at a fixed peppercorn rent.
The investment benefits from a new 10-year lease to Alchemy Parts Ltd, a long-established motorcycle accessories specialist with a proven occupational history at the property dating back to 2007. The lease incorporates a tenant-only break option and rent review at the fifth year and produces an initial rent of £20,000 per annum exclusive. The transaction reflects an approximate initial yield of 5.9%, assuming purchaser acquisition costs of 6%.
The property comprises a refurbished two-storey business unit providing showroom, storage and office accommodation. Located on the Cranborne Industrial Estate, the asset benefits from excellent access to Junction 24 of the M25, the A1(M), A1000 and Potters Bar railway station, providing strong regional and London connectivity.
The combination of an established tenant, long lease term, refurbishment works and strategic South East location provides an attractive investment opportunity for private investors, property companies and income-focused buyers.
The investment benefits from a new 10-year lease to Alchemy Parts Ltd, a long-established motorcycle accessories specialist with a proven occupational history at the property dating back to 2007. The lease incorporates a tenant-only break option and rent review at the fifth year and produces an initial rent of £20,000 per annum exclusive. The transaction reflects an approximate initial yield of 5.9%, assuming purchaser acquisition costs of 6%.
The property comprises a refurbished two-storey business unit providing showroom, storage and office accommodation. Located on the Cranborne Industrial Estate, the asset benefits from excellent access to Junction 24 of the M25, the A1(M), A1000 and Potters Bar railway station, providing strong regional and London connectivity.
The combination of an established tenant, long lease term, refurbishment works and strategic South East location provides an attractive investment opportunity for private investors, property companies and income-focused buyers.
| Unit | Unit Size | Unit Use | Price | NOI |
| Unit 4 | 1,171 sq ft | Retail | £325,000 (£277.54/sq ft) | £20,000 |
Unit 4
| Unit Size |
| 1,171 sq ft |
| Unit Use |
| Retail |
| Price |
| £325,000 (£277.54/sq ft) |
| NOI |
| £20,000 |
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Unit 4
| Unit Size | 1,171 sq ft |
| Unit Use | Retail |
| Price | £325,000 (£277.54/sq ft) |
| NOI | £20,000 |
| Sale Type | Investment |
| Net Initial Yield | 6.15% |
| Tenure | Long Leasehold |
| Description | |
|
Property Type: Business Unit / Industrial Investment Address: Unit 4 Knuway House, Cranborne Road, Potters Bar, Hertfordshire EN6 3JN Gross Internal Area (GIA): 1,171 sq ft Ground Floor: 618 sq ft First Floor: 553 sq ft Tenure: Long Leasehold (999-year lease from April 2007) Asking Price: £325,000 + VAT Passing Rent: £20,000 per annum exclusive Initial Yield: Approximately 5.9% (assuming purchaser costs of 6%) Rent per Sq Ft: £17.08 per sq ft per annum Tenant: Alchemy Parts Ltd Lease Term: New 10-year lease Break Option: Tenant-only break at Year 5 Rent Review: Year 5 Repairing Basis: Full Repairing and Insuring (subject to schedule of condition) Use Class: E(g)(iii) and B8 Parking: 4 allocated spaces EPC: D (85) Business Rates: Payable by the tenant |
|
| Sale Notes | |
|
Unit 4 Knuway House presents an opportunity to acquire a refurbished business unit investment within the established Cranborne Industrial Estate in Potters Bar. The property is offered for sale at £325,000 plus VAT by way of a 999-year leasehold interest from April 2007 at a fixed peppercorn rent. The investment benefits from a new 10-year lease to Alchemy Parts Ltd, a long-established motorcycle accessories specialist with a proven occupational history at the property dating back to 2007. The lease incorporates a tenant-only break option and rent review at the fifth year and produces an initial rent of £20,000 per annum exclusive. The transaction reflects an approximate initial yield of 5.9%, assuming purchaser acquisition costs of 6%. The property comprises a refurbished two-storey business unit providing showroom, storage and office accommodation. Located on the Cranborne Industrial Estate, the asset benefits from excellent access to Junction 24 of the M25, the A1(M), A1000 and Potters Bar railway station, providing strong regional and London connectivity. The combination of an established tenant, long lease term, refurbishment works and strategic South East location provides an attractive investment opportunity for private investors, property companies and income-focused buyers. |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Property Size | 6,837 sq ft | Typical Floor Size | 2,279 sq ft |
| Property Type | Office (Unit) | Year Built | 1975 |
| Costar Property Class | B | Total Plot Size | 1.14 ac |
| Floors | 3 | Parking Allocation | 4.68/1,000 sq ft |
| Total Property Size | 6,837 sq ft |
| Property Type | Office (Unit) |
| Costar Property Class | B |
| Floors | 3 |
| Typical Floor Size | 2,279 sq ft |
| Year Built | 1975 |
| Total Plot Size | 1.14 ac |
| Parking Allocation | 4.68/1,000 sq ft |
Amenities
- Security System
- Roller Shutters
- Air Conditioning
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Cranborne Rd - Knuway House
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