• Located in a prime position within the pedestrianised Marlowes –Hemel
Hempstead’s main retailing destination
• Hemel Hempstead is a popular commuter town within Hertfordshire with direct
trains to London Euston within 27 minutes
• The upper parts over the first and second floor have most recently been used
as offices and ancillary accommodation to the retained retail units at ground
floor. Access to them is direct from the High Street.
• Total existing floor area is 15, 505ft2
• The upper parts benefit from six separate consents which allows for the
conversion to 26 flats – 21 x Studios and 5 x 1 bed with a total proposed NIA
of 10, 336ft2
• A class aa application for the “Construction of a two storey upwards
extension…” was submitted in February 2023. If granted, the application will
allow for the development of an additional 26 flats – 25 x 1 bed and 1 x 2 bed
with a total proposed NIA of 11, 466ft2.
• Once completed, the entire scheme will provide 52 flats – 21 x studios, 30 x
1 bed and 1 x 2 bed with a total NIA of 21, 802ft2.
• We believe on completion, the scheme should generate a rent in the region of
£725, 000pa
• Full vacant possession to be provided on completion
• A structural survey is available on request
• Freehold
• VAT is not applicable
• We are instructed to seek £1, 300, 000 Subject To Contract for the 26 unit
conversion with an overage payable of £800, 000 Subject To Contract and
Planning for the additional 26 unit rooftop development.

Property location on the map: Use mouse double click to (Zoom IN: LEFT button; Zoom OUT: RIGHT button)

Similar properties: