41/45 Midland Road Bedford Bedfordshire MK40 1PW

41/45 Midland Road
Bedford
Bedfordshire
MK40 1PW

Prime Freehold Retail Investment

Let to Caversham Trading Limited (t/a Brighthouse)
Tenant break option between November 2014 and November 2015 not exercised
May 2015 Rent Review outstanding
Excellent retail position on pedestrianised Midland Road
Opposite The Harpur Shopping Centre housing occupiers including Primark, Boots and WH Smith
Other nearby occupiers include Marks & Spencer, Tesco Metro, BHS and Next
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
11
Auction
23rd March 2016
Rent
£70,000 per Annum Exclusive
Status
Sold
Price
£1,000,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Insolvency Practitioners Deloitte

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Prime Freehold Retail Investment

Let to Caversham Trading Limited (t/a Brighthouse)
Tenant break option between November 2014 and November 2015 not exercised
May 2015 Rent Review outstanding
Excellent retail position on pedestrianised Midland Road
Opposite The Harpur Shopping Centre housing occupiers including Primark, Boots and WH Smith
Other nearby occupiers include Marks & Spencer, Tesco Metro, BHS and Next
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 11
Auction 23rd March 2016
Rent £70,000 per Annum Exclusive
Status Sold
Price £1,000,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Insolvency Practitioners Deloitte

Property Information

Location

Miles: 17 miles north-east of Milton Keynes, 28 miles south-west of Cambridge
Roads: A6, A421, A428, M1
Rail: Bedford Railway Station, Bedford St Johns Railway Station
Air: London Luton Airport

Situation

The property is situated in a prominent position on the northern side of the pedestrianised Midland Road, in the heart of the town centre. The property faces The Harpur Shopping Centre, which houses occupiers including Primark, Argos, Topshop/Topman, WH Smith and Boots the Chemist. Other nearby occupiers include Marks & Spencer, Tesco Metro, New Look, Bonmarché, BHS, Poundworld and Savers.

Tenure

Freehold.

Location

Miles: 17 miles north-east of Milton Keynes, 28 miles south-west of Cambridge
Roads: A6, A421, A428, M1
Rail: Bedford Railway Station, Bedford St Johns Railway Station
Air: London Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises a double-fronted ground floor retail unit with ancillary accommodation on the first floor. The property benefits from rear access via Saffron Close.
Six Week Completion

Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is 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/(Reversion)
Ground First	Retail/Ancillary Ancillary	247.30 sq m 261.80 sq m	(2,662 sq ft) (2,818 sq ft)	CAVERSHAM TRADING LIMITED (1) (t/a Brighthouse)	10 years from 18/05/2010 on a full repairing and insuring lease	£70,000	18/05/2015 (2) (17/05/2020)
Totals		509.10 sq m	(5,480 sq ft)			£70,000

(1) Brighthouse now trade from over 300 stores in the UK. For the year ending 31st March 2015, Caversham Trading Limited reported a turnover of £67,479,000, pre-tax profits of £2,759,000 and a total net worth of £56,365,000. (Source: www.brighthouse.co.uk and Experian Group 22/02/2016).
(2) The May 2015 rent review remains outstanding. Any rental uplift is to be capped at £87,500 p.a.x.