|Property Reference Number||100081165472|
An Attractive Repositioning Opportunity in a Core Northern M25 Market.
The People Building Hemel Hempstead is located on Maylands Avenue in the Marylands Business District approximately 3 miles from Hemel Hempstead Station.
- The building provides a total of 98,206 sq ft of Grade A accommodation over ground and three upper floors.
- The building is in close proximity to a wealth of amenity including Nuffield Health Fitness and Wellbeing Gym, Costa Coffee and Aldi.
- Benefits from a WAULT of 1.0 years to expiry and 0.5 years to break.
- This asset produces a passing rent of £1,607,312 per annum. This equates to a low passing rent of £18.65 per sq ft (on let space
- Quoting rents on refurbished buildings on the adjacent Breakspear Park are now in excess of £27.50 per sq ft.
- Real repositioning opportunity to refurbish the vacant floor space to provide grade A office space in a prime Hemel Hempstead location and set a new rental tone for the building.
- Reversionary potential given prime rents achieved in Hemel Hempstead are in excess of £27.00 per sq ft.
- We are instructed to seek offers in excess of £10,500,000, subject to contract and exclusive of VAT which reflects a low price per square foot of £107.