253 & 255 Watling Street and 11–13 Station Approach, Radlett, Hertfordshire WD7 7AL

Description

An attractive Grade II Listed corner building on a Site Area of approx. 10,200 sq ft comprising 6 Self-Contained Commercial Units (4 on ground and first floors and 2 on ground floor only). The property includes areas for parking up to 8 cars together with Land to the rear of Nos. 243–251 Watling Street.

Accommodation

6 self-contained commercial units: 4 on ground and first floors and 2 on ground floor only.

Location

Occupying a prominent position at the junction with Shenley Hill in the heart of this popular shopping centre serving the surrounding affluent and sought-after residential area. Watling Street hosts multiple retailers including Gail's, Pizza Express, Wenzel's, Tesco Express, Hob Salons, Harpenden Building Society and a wide variety of independent retailers. The property is adjacent to Radlett Station (Thameslink) with central London approximately 15 miles to the south.

Tenure / Property Information

Investment Analysis

The guide is £1,200,000+ for a freehold asset comprising six self-contained commercial units, parking for up to eight cars and rear land of approximately 10,200 sq ft site area. The supplied sold comparables are historic, relate to individual neighbouring properties and do not establish a reliable value for this larger multi-unit asset. No specific rental evidence, passing income, floor areas, condition report, planning information or unit-by-unit valuation is supplied. A defensible GDV or maximum bid cannot therefore be calculated.

Investment Snapshot

Strategy Recommendation

Do not bid on yield, refinance or flip assumptions until the legal pack, unit-by-unit income and lease schedule, condition, planning/listed-building position, rear-land rights and all additional fees have been verified. Proceed only if the verified income and asset-management upside justify the £1,200,000+ guide.

Works Required

No specific physical defects or refurbishment requirements are evidenced. The opportunity appears to require asset-management due diligence covering the six commercial units, occupation and lease status, condition, services, parking and rear land. Any works to the Grade II Listed building would require appropriate review and consents; no works allowance is supportable from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A refinance assessment cannot be supported without a defensible GDV, verified rental income, lease information and refurbishment or asset-management costs. The known £1,500 including VAT administration charge is payable in addition to the purchase price, while other possible sale-condition costs are unspecified.

Buy-to-Let Analysis

BTL-style commercial investment analysis cannot be completed because no passing rent, rent schedule or sufficiently specific rental comparables are supplied. Occupancy, lease terms, tenant covenant strength and operating costs are also not provided, so income and yield cannot be established.

Flip Analysis

A flip surplus cannot be calculated. The supplied comparables are not sufficiently comparable to the six-unit commercial asset, and there is no supported GDV, works budget, transaction-cost budget or selling-cost allowance.

Investor Risks & Due Diligence

• No passing rent or sufficiently specific rental comparable is supplied, preventing yield analysis.

• Occupancy and lease terms for the six commercial units are not provided.

• The Grade II Listed status may constrain works or redevelopment, but no listed-building or planning information is supplied.

• The rear land, parking provision and development or use potential are not evidenced in the supplied material.

• Condition, services, floor areas and refurbishment requirements are unknown.

• The guide is £1,200,000+ and the £1,500 administration charge is known, but other possible fixed or variable sale-condition costs are unspecified.

• The historic sold comparables are individual neighbouring properties and may not be representative of this larger multi-unit asset.

Recommendation

Do not bid on yield, refinance or flip assumptions until the legal pack, unit-by-unit income and lease schedule, condition, planning/listed-building position, rear-land rights and all additional fees have been verified. Proceed only if the verified income and asset-management upside justify the £1,200,000+ guide.

Strategy Rating

Analysis Confidence

The property description and guide are supplied, but there is no rental evidence, occupancy or lease information, condition assessment, detailed accommodation schedule, planning evidence, GDV evidence or complete fee schedule.