March 29, 2022
Batchworth House, Church Street, Rickmansworth, WD3 1JE March 2022
Wesleyan Assurance Society has disposed of the freehold interest in Batchworth House, Church Street, Rickmansworth, WD3 1JE, to Bugler Developments Limited.
The property is situated in the town centre and comprises a modern office on ground and two upper floors, with a gross internal area of 11,553 sq ft and net internal area of 8,611 sq ft, together with 38 car spaces.
The second floor is vacant and the ground and first floors are let, producing a current income of £153,400 per annum, with vacant possession possible by April 2022. The property offered various asset management initiatives, including a refurbishment/ extension of the offices or conversion to residential.
The purchase price of £3,350,000 reflected a capital value of £389 per sq ft on the net internal area and £290 per sq ft on the gross internal area.
Wesleyan Assurance Society was represented by Nightingale Partners, whilst Bugler Developments Limited was represented by Brasier Freeth.