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CPE
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.
Hébergement
Le bien offre les surfaces de plancher nettes intérieures suivantes :
| Hébergement | pieds carrés | M² |
| Façade brute | 35’3” ft | 10.74 m |
| Façade nette | 34’1” ft | 10.39m |
| Ground Floor Sales Area | 2,182 | 202.71 |
| ITZA | 1,218 |
Un ensemble de plans d'étage est disponible en téléchargement.
Mandat
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
Location
Le bien est loué à 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 £ par an.
Valeur locative
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.
Valeur imposable
The rateable value is £46,000 with a current multiplier of 38.2 pence.
Frais de service
The current service charge for the property is £5,844.16 plus VAT. The full cost is recovered from Boots Hearingcare Limited.
Engagement
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%) et 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 | |
| Chiffre d'affaires | £169.639m | £155.503m |
| Pre-tax profit | £23.004m | £16.658m |
| Actif net | £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.
T.V.A.
La propriété a été enregistrée à la TVA. Il est prévu que la vente soit traitée comme un transfert d'entreprise en activité (TOGC) sous réserve du respect des dispositions du contrat de vente.
Proposition
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% et un rendement réversible de 7.20%, based upon acquisition costs at 4.18%.
Veuillez noter qu'un acheteur se verra facturer des frais de transaction de 1,01 TP3T du prix d'achat plus la TVA.
Considérations d'investissement
- 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
- Revenu de réversion
- Profil de rendement attractif.
Disclosure
Note that a member of Singer Vielle has an interest in this property
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