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EPC
The property has an EPC rating of ‘C’, valid until June 2034. Note the unit was assessed prior to the recent full refurbishment of the unit.
Alojamiento
La propiedad ofrece las siguientes áreas internas netas:
| Alojamiento | pies cuadrados | Metros cuadrados |
| Frente Bruto | 35’3” ft | 10.74 m |
| Frente Neto | 34’1” ft | 10.39m |
| Ground Floor Sales Area | 2,182 | 202.71 |
| ITZA | 1,218 |
Un conjunto de planos de planta está disponible para descargar.
Tenencia
Long leasehold for a term from 12th June 2026 until 28th December 2187 (161.5 years) at a peppercorn. The lease provides for appropriate rights for access to the rear service area and rights to install air conditioning units at the rear of the property. The lease provides for a specific exclusion from any liabilities in relation to inherent defects; there are no known inherent defects but this is an additional safeguard for an investor.
The immediate landlord is Regent Street Projects Limited. The ultimate freeholder is Letchworth Garden City Corporation
Tenencia
La propiedad se alquila a Boots Hearingcare Limited (Co. No. 00823009) on a full repairing and insuring lease for a term of ten years from 29th May 2026 with a tenant break option on 28th May 2031. The tenant was granted a 12 months’ rent-free period. The initial rent is £25.000 por año.
Valor de alquiler
The passing rent equates to a low Zone A rate of £20.53.
In comparison, lettings at the Letchworth Shopping Centre in recent years have been as follows:
- Specsavers – let September 2025 at £70,000 per annum – £25.68 Zone A
- F Hinds – let September 2025 at £18,000 – £33.24
- EE – let November 2022 £19,250 – £39.38
- Starbucks – let October 2023 – £40,000 – £38.76 ZA
- WH Smith (TG Jones) let August 2023 at £33,500 – £27.43 ZA
- Boots – let August 2023 £72,000 – £31.08
- Premier Travel – let June 2023 at £16,000 pa – £29.60 Zone A
Boots Hearingcare renegotiated the rent which had been agreed, which resulted in the low current rent. This offers excellent prospects for rent increases.
We consider the open market rental value to be £30,500 per annum based upon £25 Zone A.
Valor Tasable
The rateable value is £46,000 with a current multiplier of 38.2 pence.
Cargo por servicio
The current service charge for the property is £5,844.16 plus VAT. The full cost is recovered from Boots Hearingcare Limited.
Pacto
Boots Hearingcare is one of the UK’s leading private hearing care providers, operating from over 500 locations nationwide, including centres within Boots stores.
The company is jointly owned by Sonova Holding AG (51%) y Boots UK Limited (49%). Sonova, headquartered in Switzerland, is a global leader in hearing care solutions and one of the world’s largest manufacturers of hearing aids. Boots UK acquired its 49% interest in 2013, strengthening an established partnership between the two businesses.
Boots Hearingcare Limited (Company No. 00823009) has reported the following financial results:
| Year ended 31 March 2026 | Year ended 31 March 2025 | |
| Rotación | £169.639m | £155.503m |
| Pre-tax profit | £23.004m | £16.658m |
| Activos netos | £17.104m | £10.161m |
The latest results demonstrate continued growth, with turnover increasing by approximately 9.1% and pre-tax profit increasing by approximately 38.1% year-on-year.
Further information is available at www.bootshearingcare.com.
IVA
La propiedad ha sido registrada a efectos del IVA. Se prevé que la venta se considerará una transferencia de una empresa en funcionamiento (TOGC) sujeta al cumplimiento de las disposiciones del contrato de venta.
Propuesta
The property is available at an asking price of £400,000, (Four Hundred Thousand Pounds) subject to contract, reflecting a net initial yield of 6.0% y un rendimiento reversionario de 7.20%, based upon acquisition costs at 4.18%.
Tenga en cuenta que al comprador se le cobrará una tarifa de transacción de 1.0% del precio de compra más IVA.
Consideraciones de inversión
- The property is located in an affluent location within the London commuter belt
- The property occupies a prime retailing pitch within the Garden Square Shopping Centre
- Undoubted income
- New letting from May 2026
- The tenant has extensively fitted out the unit to a high standard
- Attractive small lot size for an investor
- Ingresos por reversión
- Perfil de rendimiento atractivo.
Disclosure
Note that a member of Singer Vielle has an interest in this property
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