Maxted Park, Hertfordshire
Our Commercial Agency team was instructed as sole agents to advise on the letting of 4-8 Maxted Park, Hemel Hempstead, which had become surplus to requirements. The property was slightly unusual. It has a terrace of three separate units plus a semi-detached pair of units at a right angle to the other terrace. Both buildings were linked by a retro fitted roof over the whole parking area.
The client wanted to let the entire site to one business although marketing was commenced on the basis of flexibility to lease the units separately.
After a period of marketing, during which we were approached by several companies to take individual units, we were finally approached by a tenant who needed to expand and relocate within this Hertfordshire town and who wanted the whole site.
The layout of the units was ideal for the tenant, with a need for a separate manufacturing area as well as a separate storage area for stock. Terms were agreed for a new 10 year lease close to the asking rent with a short rent free period for dealing with refurbishment.
Our team knew the tenant, having previously let other premises to them within the town centre, and was able to facilitate the agreement of terms that were mutually acceptable to both parties.
For further information on this property or to discuss a future property requirement, contact:
Ian Archer, Director, on 01442 220801 or via email to ian.archer@argroup.co.uk.