This property features a ground floor retail space operating under use Class E, currently leased to a convenience store and off-licence. The shop benefits from high visibility and foot traffic, making it an appealing asset for potential investors.
Above the commercial unit are two floors comprising a self-contained four-bedroom flat, complete with separate bathroom and kitchen facilities. This residential space is currently occupied under an assured shorthold tenancy but presents significant renovation and subdivision opportunities. Subject to appropriate planning permissions, there is the potential to convert the flat into multiple smaller units, enhancing rental income prospects.
Situated in the heart of Watford town centre on Market Street, the property enjoys easy access to a variety of amenities. The Atria shopping centre is just a short five-minute walk away, along with numerous dining options that add to the area's vibrant atmosphere. Additionally, transportation links are excellent; both Watford High Street station and Watford Junction station are within a convenient distance, providing efficient services to London Euston and other key destinations.
The current tenancies include a full repairing and insuring lease for the ground floor shop until January 2035, generating an annual rent of £25,000, with a scheduled tenant break and rent review in 2030. The flat currently yields £1,550 per month on an assured shorthold tenancy for one year.
This property not only offers immediate rental income but also holds substantial upside potential through renovations or reconfiguration of the upper residential unit in this bustling area.
