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Champneys Beauty CollegeChesham Road, Wigginton, Tring, HP23 6HX
- New
- Freehold
Key features
- Prime investment opportunity in enviable location
- Let to Champneys Tring Ltd
- 4A1 D&B Rating and 90/100 Incans Rating
- New 15 year FRI lease with no breaks
- Commencing Rent of £175,000 per annum
- Guide price of £2,350,000, representing a 7% NIY
- Site area approximately 1.75 acres (0.708 hectares)
- Lapsed planning consent for change of use to residential
A unique detached freehold investment located on the Champneys Tring Spa Resort Estate
About this property
Description
The Champneys Beauty College is a two-storey property comprising several classrooms, treatment rooms and administrative offices. The site spans approximately 1.75 acres (0.708 hectares) and provides car parking for approximately 35 vehicles. The building is of brick construction and is designed with multiple large fenestration that provide natural light. It is constructed with a primary pitched roof which is flat in part.
Covenant
Champneys’s Beauty College was founded in 1976 at the current site Tring, Hertfordshire. An additional college was subsequently established in Holborn, London. During this time the Beauty College has built a name as one of the UK's leading beauty therapy training colleges.
Tenure
Freehold. The property is let to Champneys Tring Ltd with guarantee from Champneys Henlow Ltd on a brand new 15 year FRI lease from May 2024 with No Breaks. The rent passing £175,000p.a with five yearly rent reviews on an upwards only basis in accordance with CPI at a collar of 2% and a cap of 4%. Champneys have the benefit of a buy back clause.
Planning
Current use is as Beauty College. However The property had planning permission for a Change of use from Class C1 (Beauty College) to Class C3 residential granted on 06 May 2021; thus, the planning has lapsed. The planning number - 21/00993/FUL and the local council - Dacorum Borough council.
Local information
- Champneys Beauty College forms part of the 170 acre Champneys Tring Spa Resort which is located in the beautiful Hertfordshire village of Wiggington which is located between Tring and Berkhamsted.
- The property is located approximately 30 miles north west of London close to Buckinghamshire borders and is accessible from both Chesham Road which provides the main entrance as well as from Rossway Lane which provides a surrounding area is typically made up of open countryside and large luxury residential properties.
- Road communications are good with the A41 being easily accessible which provides access to the M25 with Tring and Berkhamsted railway stations providing excellent accessibility to Central London with journey times from 32 minutes.
- Tring is in Hertfordshire, about 48 km (30 miles) north west of London, near the Buckinghamshire border. The town has very good transport links, including the A41 dual carriageway and Tring railway station, which provides regular services to London Euston and Birmingham.
- Tring, a town with a population of around 12,000 persons, is a mix of families, professionals and retirees. It offers a unique blend of rural and urban lifestyles, making it a magnet for both residents and visitors.
- The local economy includes retail, education and tourism. Notable attractions include the National History Museum at Tring and the nearby Chiltern Hills Area of Outstanding Natural Beauty. The area also has various amenities, including shops, schools and recreational facilities.
Energy performance
C (60)