Ground & part first floors let to Savers Health and Beauty Limited on a new 10 year lease until 2023 (subject to note 2 below)
Prime town centre location opposite The Mall Shopping Centre
Nearby occupiers include Primark, BHS, McDonald’s, Lloyds TSB and HSBC
Six Week Completion
Lot 9
Auction 13th February 2014
Rent £65,000 per Annum Exclusive
Status Sold
Price £710,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Joint LPA Receivers
Property Information
Location
Miles
20 miles south-east of Milton Keynes, 33 miles north-west of Central London
Roads
A6, A505, M1 (Jct 10/11)
Rail
Luton Rail (direct to London in approximately 35 mins)
Air
Luton Airport
Situation
The property is situated in a prime location in Luton town centre on the southern side of George Street. The property lies opposite an entrance to The Mall Shopping Centre which houses retailers such as Boots, Marks and Spencer, Debenhams, Next and H&M. Other nearby occupiers include Primark, BHS, McDonald’s, Lloyds TSB and HSBC.
Tenure
Freehold.
Location
Miles
20 miles south-east of Milton Keynes, 33 miles north-west of Central London
Roads
A6, A505, M1 (Jct 10/11)
Rail
Luton Rail (direct to London in approximately 35 mins)
Air
Luton Airport
Situation
The property is situated in a prime location in Luton town centre on the southern side of George Street. The property lies opposite an entrance to The Mall Shopping Centre which houses retailers such as Boots, Marks and Spencer, Debenhams, Next and H&M. Other nearby occupiers include Primark, BHS, McDonald’s, Lloyds TSB and HSBC.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with storage accommodation on part first floor. The remaining part first and second floors are accessed via a staircase within the retail tenant’s demise.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers Phillip Matthews and Edward Starling and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with storage accommodation on part first floor. The remaining part first and second floors are accessed via a staircase within the retail tenant’s demise.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers Phillip Matthews and Edward Starling and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Retail Storage
261.07 sq m 112.97 sq m
(2,810 sq ft) (1,216 sq ft)
SAVERS HEALTH AND BEAUTY LIMITED (1)
10 years from 12/09/2013 until 11/09/2023 on a full repairing and insuring lease (2)
£65,000
12/09/2018
First Second
Storage Storage
153.93 sq m 105.70 sq m
(1,657 sq ft) (1,138 sq ft)
VACANT POSSESSION
Totals
633.67 sq m
(6,821 sq ft)
£65,000
(1) Founded in 1988, Savers currently runs over 230 stores, extending throughout England, Scotland and Wales. (Source: www.savers.co.uk 15/01/2014) (2)The lease provides a tenant’s option to determine on the fifth anniversary of the term on payment to the landlord of £32,500.
Contacts
Seller's Solicitors
Lawrence Graham LLP 4 More Riverside London SE1 2AU
