98-106 Queensway Bletchley Milton Keynes MK2 2RU

98-106 Queensway
Bletchley
Milton Keynes
MK2 2RU

Retail and Office Investment

Four Retail Units with Office Accommodation on Upper Floors
Prominent position on prime retailing pitch
Future Redevelopment Potential on Upper Floors (Subject to Consents)
Nearby occupiers include Greggs, Specsavers, Barclays, New Look and Dorothy Perkins

Lot
13
Auction
27th March 2014
Rent
£80,000 per Annum Exclusive
Status
Sold
Price
£775,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers

Interested?

Expand
Photos
Map

Retail and Office Investment

Four Retail Units with Office Accommodation on Upper Floors
Prominent position on prime retailing pitch
Future Redevelopment Potential on Upper Floors (Subject to Consents)
Nearby occupiers include Greggs, Specsavers, Barclays, New Look and Dorothy Perkins

Lot 13
Auction 27th March 2014
Rent £80,000 per Annum Exclusive
Status Sold
Price £775,000
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: 4 miles south of Milton Keynes, 27 miles north-west of Hemel Hempstead, 55 miles north-west of London
Roads: A5, A421, M1, M40
Rail: Bletchley Mainline Station (41 minutes to London Euston)
Air: Luton Airport

Situation

The property is situated on the southern side of Queensway, Bletchley’s principal retail thoroughfare. Brunel Shopping Centre lies some 120 metres to the west, housing retailers such as WH Smith, Boots, Wilkinson and Savers. Other nearby occupiers include Greggs, Specsavers, Barclays, New Look, Dorothy Perkins and Halifax.

Tenure

Freehold.

Location

Miles: 4 miles south of Milton Keynes, 27 miles north-west of Hemel Hempstead, 55 miles north-west of London
Roads: A5, A421, M1, M40
Rail: Bletchley Mainline Station (41 minutes to London Euston)
Air: Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises four ground floor retail units with self-contained offices on upper floors accessed from Queensway. The property benefits from a yard area to the rear.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers 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 applicable to this lot.

Viewings

There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site.
Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Viewings

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
98	Ground	Retail	62.89 sq m	(677 sq ft)	MILTON KEYNES MOBILITY LTD	10 years from 23/04/2012 until 22/04/2022 (1)	£14,500	23/04/2017
100	Ground	Retail	123.37 sq m	(1,328 sq ft)	MEAT WORLD LTD	15 years from 13/02/2012 until 12/02/2027	£20,000	13/02/2017 and 13/02/2022
104	Ground	Retail	171.96 sq m	(1,851 sq ft)	CROPFRAME LTD (t/a Ladbrokes)	125 years from 28/03/2007	Peppercorn	(27/03/2132)
106	Ground	Retail	166.30 sq m	(1,790 sq ft)	MIND (THE NATIONAL ASSOCIATION FOR MENTAL HEALTH)	10 years from 18/04/2013 until 17/04/2023 (1)	£20,000	18/04/2018
102	First - West First - East Second - West	Office Office Office	110.46 sq m 135.08 sq m 110.46 sq m	(1,189 sq ft) (1,454 sq ft) (1,189 sq ft)	INDIVIDUALS (t/a Austin Ray Solicitors)	20 years from 25/12/1985 6 years from 25/12/1999 See note (2)	£4,725 (2) £9,100 £11,675 (2)	(24/12/2005) (3) (24/12/2005) (3)
102	Second - East	Office	135.08 sq m	(1,454 sq ft)	VACANT POSSESSION
Totals			1,015.60 sq m	(10,932 sq ft)			£80,000

(1) The lease provides an option to determine on the fifth anniversary of the term.
(2)The tenant (t/a Austin Ray Solicitors) is in occupation of the second floor west however the Receivers have no documentation relating to this. The current passing rent for 102 Queensway is £25,500 p.a.x. The lease of the first floor east has a fixed rental income of £9,100 p.a.x. and the initial rent for the 1985 lease of the first floor west was £4,725 p.a.x. The remaining £11,675 p.a.x. has been apportioned to the second floor west.
(3)The tenant is holding over.