COMMERCIAL PROPERTY

Commercial property

Commercial Property Market

Introduction

The report analysis the property market of St. Albans situated is in Hertfordshire. The report makes the recommendations for investments by the property investors. There are mainly three sectors of the research inclusive of office, industrial and retail. The paper also discusses the advantages of commercial property investment in St Albans in Hertfordshire as compared to other districts.

Outline of St. Albans

St. Albans is mainly situated between the motorways of M25, M1 and A1. The towns surrounding St. Albans are Hatfield, Harpenden, Welwyn Garden City, Hemel Hempstead and Watford. There are two railway stations in St. Albans. One is the St. Albans City Station connecting to London Kings Cross and second is the St Albans Abbey Station connecting to Watford. St Albans is one of the popular towns to live with its history and attractiveness provided with well infrastructure of road and rail links. St Albans was known as Verulamium before in Roman Britain time, where it was the third largest Roman City. The river flowing through the city is called Ver River. The river also crosses Verulamium Park which is a good spot for recreation and walks. The name of St Albans is kept after the first Christian martyr of Britain. The city includes historical sites and building including the St Albans Cathedral, buildings along Fishpool Street situated near the Cathedral (hertfordshrie.com).

St Albans also comprises if two museums representing the culture and history of the city. The museums have preserved the Roman history in the Verulamium museum. This also includes the Roman Theatre and Hypocaust. The other museum, St Albans Museum represents the story of St Albans with the departure of Romans till the current date. St Albans also comprises of various boutiques along George Street and Holywell Hill. The city comprises of two small shopping centres: Christopher Place and The Maltings. St Albans also comprises of excellent pubs and restaurants which attracts many people from adjacent towns as well. Alban Area is the city centre utilized for the comedy, theatre, cinema and other related events. St Albans also comprises of two nightclubs. For now, there is no cinema in the city. Therefore, the nearest cinemas of Hemel Hempstead, Watford and Hatfield are used. St Albans is also known for the provision of locations for various shootings of Hollywood movies. The Campaign for Real Ale (CAMRA) organizes the annual beer festival in the city. St Albans also includes the Verulam Golf Course which is the original home of the Ryder Cup (hertfordshrie.com).

Market Trends [rents and yield of town and out of town]

St Albans is the historic market town and presently within the London commuter belt it is the sought-after dormitory town. The prices of property are particularly high within the district making it expensive towns of UK. The range of rental prices for retail is from £15,000 to £49,500 per annum, office ranges varies from £15,500 to £107,000, leisure lease ranges from £149,000 to £250,000. Within Hertfordshire, the major retail and commercial centres include ...