96 Queensway Bletchley, Milton Keynes Buckinghamshire MK2 2RU

96 Queensway
Bletchley, Milton Keynes
Buckinghamshire
MK2 2RU

Prominent Retail Investment

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
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Prominent Retail Investment

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

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.