£12,900,000
Retail premises for sale
Property photos
Just added
£12,900,000
(£373.02/sq. ft)
Retail premises for sale
Bircherley Green, Hertford SG1434,583 sq. ft
Local area information
Property location
Nearby amenities
- Abel Smith School 0.2 miles
- Hertford East 0.2 miles
- Richard Hale School 0.3 miles
- Hertford North 0.6 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Hertford to find out more about the local area.
Features and description
Investment Consideration:
Gross Initial Yield: 6.38%
Rental Income: £822,750 p.a.
VAT is applicable to this property. Togc available.
New-build in 2023 to a very high standard
Tenants include nhs Surgery, Starbucks, Boots, Card Factory, Pure Gym, 2 Restaurants, Nail Salon and Euro Car Parks
Comprises mixed-use waterfront development, consisting of 8 large retail units, 195 public car park and 98 residential apartments, all of which have been sold-off on long leaseholds
Total Commercial gia: 3,213 sq m (34,583 sq ft)
Ground floor commercial units benefit from EPC rating A
Situated within 5 min walk from Hertford East Station, providing direct services to London Liverpool Street, whilst Hertford North Station is located 0.9 miles away, offering direct services to Moorgate and London King`s Cross.
Occupiers nearby include Holland & Barret, M&S Foodhall, Snappy Snaps, wh Smith, Café Nero, Greggs and many more.
Property Description:
Lea Wharf is a prominent mixed-use waterfront development situated in the heart of Hertford town centre, adjacent to the River Lea and within walking distance of both Hertford East and Hertford North railway stations. The scheme has transformed a former dated shopping complex into a modern riverside destination comprising a mix of commercial accommodation and private residential apartments arranged around newly created public realm and pedestrian walkways. The property comprises 8 ground floor commercial units, together with 98 residential apartments on the upper floors, all of which have been sold off on long leaseholds. The scheme also benefits from landscaped riverside seating areas, public piazza space and improved pedestrian connectivity linking the town centre directly to the riverside environment. A concierge service and communal rooftop terrace are provided within parts of the residential element. The development benefits from a refurbished multi-storey car park providing 195 spaces, 40 of which have been allocated to selected apartments, 12 allocated to nhs tenant, 1 car club space, 10 EV spaces and 132 public car parking spaces managed by Euro Car Parks.
Ground Floor:
Unit 1: 230 sq m (2,476 sq ft)
Unit 1A: 144 sq m (1,550 sq ft)
Unit 2: 265 sq m (2,852 sq ft)
Unit 3: 583 sq m (6,275 sq ft)
Units 4-5: 573 sq m (6,168 sq ft)
Units 5A, 6 & 7: 430 sq m (4,628 sq ft)
Unit 8: 58 sq m (624 sq ft)
Unit 9: 930 sq m (10,010 sq ft)
Total Commercial gia: 3,213 sq m (34,583 sq ft)
Ground-Third Floor: 195 Spaces Car Park
Ground-Fourth Floor: Residential Apartments (sold-off)
Tenancy:
Unit 1 is at present let to Individual t/a Harley’s Bistro & Lounge for a term of 25 Years from 5th March 2025 at a current rent of £52,000 p.a. And the lease contains full repairing and insuring covenants. Rent review every 5 years open market upward only. No breaks.
Unit 1A is at present let to Sportswift Limited t/a Card Factory for a term of 5 Years from 21st February 2024 at a current rent of £30,000 p.a. And the lease contains full repairing and insuring covenants. No breaks.
Unit 2 is at present let to Starbucks Coffee Company (UK) Limited for a term of 15 Years from 30th January 2025 at a current rent of £60,000 p.a. And the lease contains full repairing and insuring covenants. Rent review on 30.01.30 and 30.01.35 linked to rpi (annual 1% collar & 3% cap). Tenant option to determine on 29.01.30 and 29.01.35 with min 3 months notice.
Unit 3 is at present let to Boots UK Limited for a term of 10 Years from 25th December 2023 at a current rent of £103,000 p.a. And the lease contains full repairing and insuring covenants. Rent review on 25.12.28 open market upward only. No breaks
Units 4-5 are at present let to Loungers UK Limited for a term of 15 Years from 28th March 2024 at a current rent of £74,740 p.a. And the lease contains full repairing and insuring covenants. Rent review on 28.03.29 and 28.03.34 open market upward only. No breaks.
Units 5A, 6,7 are at present let to Pure Gym Limited for a term of 10 Years from 2026 at a current rent of £138,000 p.a. And the lease contains full repairing and insuring covenants. 10 Year lease has been agreed and currently in legals.
Unit 8 is at present let to Individual t/a Hertford Nails for a term of 10 Years from 25th March 2024 at a current rent of £16,009 and the lease contains full repairing and insuring covenants. Rent review on 25.03.29 open market upward only. No breaks.
Unit 9 is at present let to 4 Individuals t/a nhs Surgery for a term of 25 Years from 26th January 2024 at a current rent of £208,975 and the lease contains full repairing and insuring covenants. Rent review every 5 years open market upward only. No breaks. Includes 12 allocated parking spaces.
Car park is at present let to Euro Car Parks on management agreement with estimated annual revenue of £140,024, based on trading history.
Residential apartments have been sold-off on long leaseholds for a term of 999 year from 2023 at a ground rent of peppercorn.
Location:
Hertford is located some 22 miles north of central London, midway between Hatfield and Harlow and some 5 miles east of Welwyn Garden City. The town is served by both the A10 and the A414 dual carriageways, which provide access to the M1, M11 and M25 motorways. Hertford East Railway Station is within 5 min walk and provides direct train services to London Liverpool Street, whilst Hertford North provides direct trains to Moorgate. Lea Wharf occupies a highly prominent riverside position in the heart of Hertford town centre, forming part of the town’s principal mixed-use regeneration scheme. The development benefits from immediate access to the town`s established retailing, restaurants, cafés and leisure amenities, whilst also providing direct frontage onto the River Lea and newly created public realm areas. The property is situated within 5 min walk from Hertford East Station, providing regular direct services to London Liverpool Street, whilst Hertford North Station is 0.9 miles away, offering direct services to Moorgate and London King`s Cross. The property also benefits from excellent road connectivity via the A414, which links directly with the A10, M25 and wider national motorway network.
Gross Initial Yield: 6.38%
Rental Income: £822,750 p.a.
VAT is applicable to this property. Togc available.
New-build in 2023 to a very high standard
Tenants include nhs Surgery, Starbucks, Boots, Card Factory, Pure Gym, 2 Restaurants, Nail Salon and Euro Car Parks
Comprises mixed-use waterfront development, consisting of 8 large retail units, 195 public car park and 98 residential apartments, all of which have been sold-off on long leaseholds
Total Commercial gia: 3,213 sq m (34,583 sq ft)
Ground floor commercial units benefit from EPC rating A
Situated within 5 min walk from Hertford East Station, providing direct services to London Liverpool Street, whilst Hertford North Station is located 0.9 miles away, offering direct services to Moorgate and London King`s Cross.
Occupiers nearby include Holland & Barret, M&S Foodhall, Snappy Snaps, wh Smith, Café Nero, Greggs and many more.
Property Description:
Lea Wharf is a prominent mixed-use waterfront development situated in the heart of Hertford town centre, adjacent to the River Lea and within walking distance of both Hertford East and Hertford North railway stations. The scheme has transformed a former dated shopping complex into a modern riverside destination comprising a mix of commercial accommodation and private residential apartments arranged around newly created public realm and pedestrian walkways. The property comprises 8 ground floor commercial units, together with 98 residential apartments on the upper floors, all of which have been sold off on long leaseholds. The scheme also benefits from landscaped riverside seating areas, public piazza space and improved pedestrian connectivity linking the town centre directly to the riverside environment. A concierge service and communal rooftop terrace are provided within parts of the residential element. The development benefits from a refurbished multi-storey car park providing 195 spaces, 40 of which have been allocated to selected apartments, 12 allocated to nhs tenant, 1 car club space, 10 EV spaces and 132 public car parking spaces managed by Euro Car Parks.
Ground Floor:
Unit 1: 230 sq m (2,476 sq ft)
Unit 1A: 144 sq m (1,550 sq ft)
Unit 2: 265 sq m (2,852 sq ft)
Unit 3: 583 sq m (6,275 sq ft)
Units 4-5: 573 sq m (6,168 sq ft)
Units 5A, 6 & 7: 430 sq m (4,628 sq ft)
Unit 8: 58 sq m (624 sq ft)
Unit 9: 930 sq m (10,010 sq ft)
Total Commercial gia: 3,213 sq m (34,583 sq ft)
Ground-Third Floor: 195 Spaces Car Park
Ground-Fourth Floor: Residential Apartments (sold-off)
Tenancy:
Unit 1 is at present let to Individual t/a Harley’s Bistro & Lounge for a term of 25 Years from 5th March 2025 at a current rent of £52,000 p.a. And the lease contains full repairing and insuring covenants. Rent review every 5 years open market upward only. No breaks.
Unit 1A is at present let to Sportswift Limited t/a Card Factory for a term of 5 Years from 21st February 2024 at a current rent of £30,000 p.a. And the lease contains full repairing and insuring covenants. No breaks.
Unit 2 is at present let to Starbucks Coffee Company (UK) Limited for a term of 15 Years from 30th January 2025 at a current rent of £60,000 p.a. And the lease contains full repairing and insuring covenants. Rent review on 30.01.30 and 30.01.35 linked to rpi (annual 1% collar & 3% cap). Tenant option to determine on 29.01.30 and 29.01.35 with min 3 months notice.
Unit 3 is at present let to Boots UK Limited for a term of 10 Years from 25th December 2023 at a current rent of £103,000 p.a. And the lease contains full repairing and insuring covenants. Rent review on 25.12.28 open market upward only. No breaks
Units 4-5 are at present let to Loungers UK Limited for a term of 15 Years from 28th March 2024 at a current rent of £74,740 p.a. And the lease contains full repairing and insuring covenants. Rent review on 28.03.29 and 28.03.34 open market upward only. No breaks.
Units 5A, 6,7 are at present let to Pure Gym Limited for a term of 10 Years from 2026 at a current rent of £138,000 p.a. And the lease contains full repairing and insuring covenants. 10 Year lease has been agreed and currently in legals.
Unit 8 is at present let to Individual t/a Hertford Nails for a term of 10 Years from 25th March 2024 at a current rent of £16,009 and the lease contains full repairing and insuring covenants. Rent review on 25.03.29 open market upward only. No breaks.
Unit 9 is at present let to 4 Individuals t/a nhs Surgery for a term of 25 Years from 26th January 2024 at a current rent of £208,975 and the lease contains full repairing and insuring covenants. Rent review every 5 years open market upward only. No breaks. Includes 12 allocated parking spaces.
Car park is at present let to Euro Car Parks on management agreement with estimated annual revenue of £140,024, based on trading history.
Residential apartments have been sold-off on long leaseholds for a term of 999 year from 2023 at a ground rent of peppercorn.
Location:
Hertford is located some 22 miles north of central London, midway between Hatfield and Harlow and some 5 miles east of Welwyn Garden City. The town is served by both the A10 and the A414 dual carriageways, which provide access to the M1, M11 and M25 motorways. Hertford East Railway Station is within 5 min walk and provides direct train services to London Liverpool Street, whilst Hertford North provides direct trains to Moorgate. Lea Wharf occupies a highly prominent riverside position in the heart of Hertford town centre, forming part of the town’s principal mixed-use regeneration scheme. The development benefits from immediate access to the town`s established retailing, restaurants, cafés and leisure amenities, whilst also providing direct frontage onto the River Lea and newly created public realm areas. The property is situated within 5 min walk from Hertford East Station, providing regular direct services to London Liverpool Street, whilst Hertford North Station is 0.9 miles away, offering direct services to Moorgate and London King`s Cross. The property also benefits from excellent road connectivity via the A414, which links directly with the A10, M25 and wider national motorway network.
More information
Listed by
Blue Alpine Partners
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