Let to tenants trading as; Coral, British Red Cross, Keech Hospice Care and Stan James Betting
Retail parade comprising 5 units (arranged as four shops)
Pedestrianised town centre location opposite the University of Bedfordshire
Close proximity to The Mall Shopping Centre
Totalling approximately 1,890.93 sq m (20,354 sq ft)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 7
Auction 7th July 2016
Rent £131,000 per Annum Exclusive
Status Sold
Price £1,345,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On behalf of Moorfields Receivers
Property Information
Location
Miles
20 miles south-east of Milton Keynes, 30 miles north-west of Central London
Roads
A6, A505, A1081, M1 (Junction 10)
Rail
Luton Railway Station
Air
London Luton Airport
Situation
The property is prominently situated on the south side of Park Street in the heart of Luton's pedestrianised town centre, opposite its junction with Church Street which leads to Luton Railway Station a short distance away. The property is adjacent to the University of Bedfordshire's Luton Campus and The Mall Shopping Centre anchored by Debenhams and Marks & Spencer. Other nearby occupiers include Boots the Chemist, Primark, 99p Stores, McDonald's, Specsavers, NatWest and Barclays Bank.
Tenure
Freehold.
Location
Miles
20 miles south-east of Milton Keynes, 30 miles north-west of Central London
Roads
A6, A505, A1081, M1 (Junction 10)
Rail
Luton Railway Station
Air
London Luton Airport
Situation
The property is prominently situated on the south side of Park Street in the heart of Luton's pedestrianised town centre, opposite its junction with Church Street which leads to Luton Railway Station a short distance away. The property is adjacent to the University of Bedfordshire's Luton Campus and The Mall Shopping Centre anchored by Debenhams and Marks & Spencer. Other nearby occupiers include Boots the Chemist, Primark, 99p Stores, McDonald's, Specsavers, NatWest and Barclays Bank.
Tenure
Freehold.
Description
The property comprises an unbroken parade of 5 ground floor retail units arranged as 4 shops with self-contained office accommodation on the first and second floors.
VAT
VAT is applicable to this lot.
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.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an unbroken parade of 5 ground floor retail units arranged as 4 shops with self-contained office accommodation on the first and second floors.
VAT
VAT is applicable to this lot.
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.
Completion Period
Six Week Completion
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)
Unit 4
Ground
Retail
162.67 sq m
(1,751 sq ft)
CORAL RACING LIMITED (1)
10 years from 10/05/2012 (2)
£31,000
10/05/2017 (09/05/2022)
Unit 5
Ground
Retail
140.19 sq m
(1,509 sq ft)
PASQUE CHARITY (TRADING) LIMITED t/a Keech Hospice Care
10 years from 30/04/2009
£27,000
(29/04/2019)
Unit 6
Ground
Retail
140.19 sq m
(1,509 sq ft)
BRITISH RED CROSS SOCIETY
10 years from 08/07/2008
£28,000
(07/07/2018)
Unit 7-8
Ground
Retail
211.53 sq m
(2,277 sq ft)
STAN JAMES (ABINGDON) LIMITED
10 years from 06/03/2009
£45,000
(05/03/2019)
12-14
Part Ground, First & Second
Office
1,236.35 sq m
(13,308 sq ft)
WELBECK PORTLAND PROPERTIES LIMITED
999 years from 03/10/2014
Peppercorn
Total
1,890.93 sq m
(20,354 sq ft)
£131,000
(1) For the year ending 27th September 2014, Coral Racing Limited reported a turnover of £668,107,000, pre-tax profits of £56,703,000 and a total net worth of £153,383,000 (Source: Experian Group 02/06/2016). (2) The lease provides for a tenant option to determine on 9th May 2017.
