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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.

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
$12,368,273 CAD
Price Per SF
$654.96 CAD
Cap Rate
6.26%
NOI
$774,586 CAD
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

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • Retailer
  • -
  • -
  • -

An Indian restaurant serving a special array of Indian Food made fresh to order using the finest ingredients.

  • Dawncroft Limited
  • -
  • -
  • -
  • -
  • Designers at Adams
  • -
  • -
  • -
  • -
  • Services
  • -
  • -
  • -

Local Turkish Barbers based in Radlett, which opened in 2017.

  • Services
  • -
  • -
  • -

A specialist children’s hair salon, they provide an all-round haircut experience in a lively, fun, and family-friendly environment with entertainment such as fun chairs/cars, DVDs, Netflix, gaming consoles (PS4 and XBOX) and much more! A lot of thought has been put into decorating their salon to manage anxiety which can come in handy with their little buddies who are anxious about getting their haircut. All their stylists have extensive knowledge and several years of experience in children’s haircuts. With amazing customer service and great, professional and caring hair stylists, their team really go the extra mile to make your stay a fun and exciting time. In addition to the well-loved balloons and lollipops, their prices include a sticker and a toy for all boys, and girls get their nails painted (using a special water-based nail polish) and a ring at the end of their visit to their salon.

  • Radlett Laundrette
  • Services
  • -
  • -
  • -

Local laundrette and laundry services provider based in Radlett.

  • Manufacturing
  • -
  • -
  • -

Their excellent customer service has been widely praised across the country. Their aim is to give you the best kitchen possible for how you and your family live in your home, specifically for your needs and how you like to work. Being a family run business, they know how important a kitchen is to a household. With over 25 years of experience offering an exceptional service to all their clients, their small team means you can always deal with the same designer, and always know that it will only be their own outstanding and widely praised fitting team in your home. All of their kitchens are individually designed to suit your needs and your budget, with total project management from initial ideas to the finished product. Simply pop in to their showroom and choose from an amazing range of kitchens. Their highly skilled team will arrange an initial meeting in one of their showrooms or at your home to create a design to suit all of your requirements.

  • Teamtogs
  • Manufacturing
  • -
  • -
  • -
  • Retailer
  • -
  • -
  • -

At Va Pensiero restaurant they have an unparalleled passion for Italian food, so they use the freshest and finest ingredients in their dishes. Their clients can always expect a personal and prompt service with a smile at Va Pensiero, alongside the organic and contemporary environment at their restaurant to complete a great food experience. As well as a mouth-watering menu, they have an excellent wine list featuring a wide range of Italian and world wines. Their “A la Carte” menu, is supplemented by a specials menu so that they can offer you a greater variety at regular intervals and make the most of seasonal produce. At Va Pensiero they are happy to assist you to make the most of your special occasions whether personal or work related all you have to do is to contact them. Due to the restaurant’s popularity, it is advisable to book in advance. They are ready to take your booking details and answer any queries you may have.

  • Yarnscombe Investments
  • -
  • -
  • -
  • -
Tenant Industry SF Occupied Rent/SF Lease End
Retailer - - -
Dawncroft Limited - - - -
Designers at Adams - - - -
Services - - -
Services - - -
Radlett Laundrette Services - - -
Manufacturing - - -
Teamtogs Manufacturing - - -
Retailer - - -
Yarnscombe Investments - - - -

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • Ground
  • 1,110 SF
  • Restaurant
  • In-Line
  • Now

Un magasin au rez-de-chaussée et sous-sol faisant actuellement partie du restaurant italien « Va Pensiero », environ 1 110 pieds carrés plus des zones annexes. Les locaux ont actuellement un usage de Classe E, servant de zone annexe/salle de réception au restaurant principal avec accès arrière au sous-sol. Possession vacante à partir du 31 janvier 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

Ground

Size 1,110 SF
Space Use Restaurant
Position In-Line
Available Now

Un magasin au rez-de-chaussée et sous-sol faisant actuellement partie du restaurant italien « Va Pensiero », environ 1 110 pieds carrés plus des zones annexes. Les locaux ont actuellement un usage de Classe E, servant de zone annexe/salle de réception au restaurant principal avec accès arrière au sous-sol. Possession vacante à partir du 31 janvier 2026.

Nearby Major Retailers

Caffè Nero
Natwest
Barclays
  • Listing ID: 40415548

  • Date on Market: 2026-05-06

  • Last Updated:

  • Address: Watling St, Radlett WD7 7NA

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