We are delighted to announce that we have successfully sold a Welwyn Garden City mixed use investment property which is located at 61 Howardsgate.
Welwyn Garden City is an affluent commuter town located in Hertfordshire, 20 miles north of London. The nearby train station serves Moorgate (47 mins) and Kings Cross (28 mins) providing fast links to Central London. In addition, the A1(M) is situated to the west of Welwyn Garden City and provides easy access to London and the wider motorway network.
The subject property is located on a pedestrianised section of Howardsgate, adjacent to McDonalds and approximately 100 yards away from the entrance to the Howard Centre. There are a number of notable retailers in the area including Marks and Spencer, Pizza Express, Costa Coffee, and Boots.
This recently sold Welwyn Garden Investment property comprises 10 apartments with four studios, two one-bedroom apartments, and four two-bedroom apartments located on the first, second, and third floors. The apartments are fully let on ASTs with a current passing rent of £93,600 per annum. In addition, there is a retail unit on the ground floor which is let on full repairing and issuing terms to Welwyn Garden City VE Ltd who are trading as Vision Express. The ground floor is on a 15 year lease expiring on 24th April 2023 and the passing rent is a total of £77,500 per year.
Welwyn Garden City has an estimated shopping population of 80,000 people with a town centre retail provision in excess of 500,000 square feet. The Howard Centre opened in October 1990 and is owned by LaSalle Investment Management. The centre provides 230,000 square feet across two levels with a number of anchor tenants including Next, WH Smith, and Boots.
“We were delighted to have completed on the sale of this Welwyn Garden investment property. The past year has seen us conduct far more transactions outside Central London as our Investment Department expands and evolves.” Commented Director of Investment and Development Mark Hoffman.
To view our marketing brochure for this property, please click here.
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