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Watling St 18,884 SF 94% Leased Retail Building Radlett WD7 7NA $9,090,909 ($481.41/SF) 6.26% Cap Rate
Investment Highlights
- Strong local demand for convenience retail
- Gross floor area of approximately 38,000 sq ft
- Asset management potential for lease regears
Executive Summary
Oakway Parade presents an opportunity to acquire a historic mixed-use property in Radlett, Hertfordshire, an affluent commuter village located approximately 17 miles northwest of central London. This characterful terrace, originally constructed in 1924, spans multiple retail and residential units along Watling Street, a prominent commercial axis in Radlett. The parade offers a gross floor area of approximately 38,000 sq ft, combining ground-floor retail, restaurants, galleries, and dental surgeries, with offices and 10 residential units above.
The property generates current income of £419,600 per annum, projected to increase to approximately £458,000 per annum through near-term lettings and ERV optimization. Positioned on a well-trafficked thoroughfare close to Park Road, the property benefits from high levels of passing pedestrian and vehicular traffic, contributing to its robust trading environment.
The site includes disused rear buildings granted planning consent in 2021 for approximately 10,000 sq ft of new offices and studios, creating additional development potential. Opportunities exist for asset management initiatives, such as lease regears, residential refurbishments, or alternative use redevelopment. Offers in excess of £6,700,000 are invited for the freehold interest, excluding 163–165 Watling Street.
The property generates current income of £419,600 per annum, projected to increase to approximately £458,000 per annum through near-term lettings and ERV optimization. Positioned on a well-trafficked thoroughfare close to Park Road, the property benefits from high levels of passing pedestrian and vehicular traffic, contributing to its robust trading environment.
The site includes disused rear buildings granted planning consent in 2021 for approximately 10,000 sq ft of new offices and studios, creating additional development potential. Opportunities exist for asset management initiatives, such as lease regears, residential refurbishments, or alternative use redevelopment. Offers in excess of £6,700,000 are invited for the freehold interest, excluding 163–165 Watling Street.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Office
Building Size
18,884 SF
Building Class
B
Year Built
1924
Price
$9,090,909
Price Per SF
$481.41
Cap Rate
6.26%
NOI
$569,335
Percent Leased
94%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.42
Lot Size
1.03 AC
Frontage
335’ on Watling Street
Amenities
- Storage Space
Space Availability
- Space
- Size
- Space Use
- Position
- Available
A single ground floor and basement shop currently forming part of ‘Va Pensiero’ Italian restaurant approx. 1,110 sqft plus ancillary areas. The premises currently has Class E use currently trading ancillary area/function room to main restaurant with rear access in basement. Vacant Possession from 31st January 2026.
| Space | Size | Space Use | Position | Available |
| Ground | 1,110 SF | Restaurant | In-Line | Now |
Ground
| Size |
| 1,110 SF |
| Space Use |
| Restaurant |
| Position |
| In-Line |
| Available |
| Now |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
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Street
Map
Ground
| Size | 1,110 SF |
| Space Use | Restaurant |
| Position | In-Line |
| Available | Now |
A single ground floor and basement shop currently forming part of ‘Va Pensiero’ Italian restaurant approx. 1,110 sqft plus ancillary areas. The premises currently has Class E use currently trading ancillary area/function room to main restaurant with rear access in basement. Vacant Possession from 31st January 2026.
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Nearby Major Retailers
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Presented by
Watling St
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