Renovation properties for sale in East of England

This expansive commercial property, spanning 6,297 square feet in the town centre, presents an attractive opportunity for both investors and owner-occupiers. Ideally situated on Marlowes in Hemel Hempstead, it is positioned to benefit from high visibility and foot traffic. Offered with vacant possession and a new long-term lease upon completion, this property can be transformed to suit a variety of business needs. Currently presented in shell condition, the open-plan layout offers a versatile blank canvas for customization. The unit features a rear store room and essential amenities such as a WC and kitchenette space located on the first floor. With Class E use, the space can accommodate numerous purposes including retail, office environments, clinics, gyms, cafes or restaurants, and showrooms. Any potential changes of use would require necessary consents. The prominent street frontage on Marlowes enhances visibility while rear access from King Harry Street provides convenient serviceability. The inclusion of a commercial lift along with power and water points adds value to the property's functionality. With an EPC rating of C, there are opportunities to improve energy efficiency through renovations if desired. Situated in an established commercial area that includes national retailers like Tesco Express, Costa Coffee, Boots, Superdrug, Holland & Barrett and Poundland enhances its attractiveness for businesses looking to capitalize on foot traffic. The available public parking nearby and accessibility to local transport links create further appeal for potential tenants or buyers. For those considering investment opportunities, this property has an estimated rental value of around £85,000 per year which could yield approximately 10% gross return based on the guide price provided. A new lease will be established upon completion with minimal ground rent obligations. VAT will apply to this purchase due to its election status. A buyer's premium is also applicable during the auction process. The legal pack will contain all pertinent details regarding service charges and other requirements related to leasing or subletting arrangements. Finally, offering a flexible 42-day completion period may prove beneficial for purchasers who plan to finance their acquisition commercially. This substantial asset presents significant potential for renovation and investment within a prime location in Hemel Hempstead's bustling town centre.