4 - 8,12 - 14 Park Street Luton Bedfordshire LU1 3EP

  • 4 - 8,12 - 14 Park Street<br>Luton<br>Bedfordshire<br>LU1 3EP

4 - 8,12 - 14 Park Street
Luton
Bedfordshire
LU1 3EP

Freehold Retail Parade/Office Investment

  • 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
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Moorfields Receivers
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Freehold Retail Parade/Office Investment

  • 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.

Contacts

Seller's Solicitors
Dentons UKMEA LLP One Fleet Place
London
EC4M 7WS
Abbey Wiggett 0207 246 7330abbey.wiggett@dentons.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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