A substantial 6,297 sq ft (585 sq m) town-centre commercial opportunity, occupying a prominent position fronting Marlowes in the heart of Hemel Hempstead. Offered with vacant possession and a new 999-year lease on completion, the property provides an excellent opportunity for investors and owner-occupiers alike.
The property comprises a substantial open-plan commercial unit, currently presented in shell condition and providing a flexible blank canvas for an incoming purchaser, with store to the rear and WC, kitchenette space for staff on the first floor . The unit benefits from Class E use, providing flexibility for a wide variety of uses including retail, office, medical/clinic, gym, café/restaurant and showroom, subject to any necessary consents.
The property benefits from a prominent frontage onto Marlowes, together with rear servicing from King Harry Street, a commercial lift, power and water points and an EPC rating of C. The remaining fit-out can therefore be undertaken by the purchaser to suit their intended use.
Marlowes forms the principal pedestrianised shopping and commercial area within Hemel Hempstead town centre, providing an established and busy trading location. Tesco Express is immediately adjacent, with other national occupiers nearby including Costa Coffee, Boots, Superdrug, Holland & Barrett and Poundland. The town centre also benefits from substantial public parking provision, while Hemel Hempstead railway station and convenient access to the M1 and M25 provide wider transport connections.
For investment purposes, the property has an estimated rental value of approximately £85,000 per annum, equating to a potential 10% gross yield based on the £850,000 guide price, before VAT and purchaser's costs and assuming letting at the estimated rental value.
A new 999-year lease will be granted on completion with a ground rent of £100 per annum. Full details regarding the service charge, permitted use and provisions for assignment and subletting will be contained within the legal pack.
The property is elected for VAT, and VAT will therefore be applicable to the purchase price. A buyer's premium will also be payable by the successful purchaser, with purchasers advised to refer to the legal pack and auction terms for full details.
A 42-day completion period will be available, providing additional flexibility for purchasers intending to utilise commercial finance.
An excellent opportunity to acquire a substantial vacant Class E commercial asset with significant occupational and investment potential in a prominent Hemel Hempstead town-centre position.
Guide Price: £850,000 Plus VAT
Tenure: Leasehold – New 999-Year Lease
Ground Rent: £100 Per Annum
EPC: C
Estimated Rental Value: £85,000 PA
Potential Gross Yield at Guide: 10%
Completion: 42 Days
Auction: Online Auction – 4th November 2026
