Prominent position on Bletchley's principal retailing thoroughfare
Tenant in occupation since at least 1995
4 miles south of Milton Keynes
Nearby occupiers include Specsavers, Barclays, Halifax and Lloyds banks and Greggs
Producing £22,000 p.a.x. (subject to note 2)
Lot 67
Auction 13th July 2017
Rent £22,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
4 miles south of Milton Keynes, 22 miles north-west of Luton, 47 miles north-west of London
Roads
M1, A5, A421
Rail
Bletchley Railway Station
Air
London Luton Airport
Situation
Bletchley is located some 4 miles south of Milton Keynes and has excellent communications to London via the M1. The property is situated on the south side of Queensway, the principal retailing street in Bletchley. Neighbouring occupiers include Specsavers, Barclays, Halifax and Lloyds banks and Greggs. The Brunel Shopping Centre is some 100 metres to the west.
Tenure
Virtual Freehold. Held for a term of 999 years from completion at a fixed peppercorn rent.
Location
Miles
4 miles south of Milton Keynes, 22 miles north-west of Luton, 47 miles north-west of London
Roads
M1, A5, A421
Rail
Bletchley Railway Station
Air
London Luton Airport
Situation
Bletchley is located some 4 miles south of Milton Keynes and has excellent communications to London via the M1. The property is situated on the south side of Queensway, the principal retailing street in Bletchley. Neighbouring occupiers include Specsavers, Barclays, Halifax and Lloyds banks and Greggs. The Brunel Shopping Centre is some 100 metres to the west.
Tenure
Virtual Freehold. Held for a term of 999 years from completion at a fixed peppercorn rent.
Description
The property comprises a ground floor retail unit which forms part of a larger building.
VAT
VAT is applicable to this lot.
Note
90 Queensway is being offered as lot 76.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit which forms part of a larger building.
VAT
VAT is applicable to this lot.
Note
90 Queensway is being offered as lot 76.
Completion Period
Six Week Completion
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
Reviews
Floor
Retail
141.25 sq m
(1,520 sq ft)
INDIVIDUAL t/a Partyrama
15 years from 15/03/2017 until 2032 (1)
£22,000 (2)
15/03/2022 15/03/2027
Totals
141.25 sq m
(1,520 sq ft)
£22,000 (2)
(1) The lease provides for a tenant option to determine the lease on 14th March 2022 and 14th March 2027. (2) The current rent reserved under the terms of the lease is £21,500 per annum exclusive. The lease provides for the rent to increase to £22,000 per annum exclusive on 15th March 2019. The seller will pay the buyer the difference between the current rent reserved of £21,500 per annum exclusive and £22,000 per annum exclusive from completion of the sale until 15th March 2019. Therefore the property will produce an income of £22,000 per annum exclusive from completion of the sale.
