Kings Way Health Centre, Unit 18 Stevenage Leisure Park Kings Way Stevenage Hertfordshire SG1 2FP

Kings Way Health Centre, Unit 18 Stevenage Leisure Park
Kings Way
Stevenage
Hertfordshire
SG1 2FP

Well Located Medical Investment

Let to Busy Bees Day Nurseries (Trading) Limited (Guaranteed by Busy Bees Day Nurseries Limited) and sublet to Hertfordshire Primary Care Trust (1)
Let until 2026 with annual rental increases linked to RPI
Situated on the busy Stevenage Leisure Park
Adjacent to Stevenage Railway Station
Neighbouring occupiers include McDonald's, Cineworld, Prezzo, Nando's and David Lloyd

Lot
72
Auction
19th October 2017
Rent
£142,554 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Well Located Medical Investment

Let to Busy Bees Day Nurseries (Trading) Limited (Guaranteed by Busy Bees Day Nurseries Limited) and sublet to Hertfordshire Primary Care Trust (1)
Let until 2026 with annual rental increases linked to RPI
Situated on the busy Stevenage Leisure Park
Adjacent to Stevenage Railway Station
Neighbouring occupiers include McDonald's, Cineworld, Prezzo, Nando's and David Lloyd

Lot 72
Auction 19th October 2017
Rent £142,554 per Annum Exclusive
Status Sold Prior
Price
Sector
Medical Centre/Doctors, Healthcare
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 32 miles north of Central London, 14 miles east of Luton
Roads: A1(M), A602, M25, A10
Rail: Stevenage Railway Station
Air: Luton Airport, Stansted Airport

Situation

Stevenage is a popular London commuter town some 30 miles north of Central London that benefits from excellent connections to London via to the A1(M) and M25. The property is situated on the busy Stevenage Leisure Park, some 1 mile to the south of Stevenage town centre and immediately adjacent to Stevenage Railway Station which is some 160 metres to the north. Occupiers on the leisure park include McDonald's, Cineworld, Nando’s, Prezzo and David Lloyd.

Tenure

Long Leasehold. Held for a term of 127 years from 15/10/2001 at a fixed peppercorn rent.

Location

Miles: 32 miles north of Central London, 14 miles east of Luton
Roads: A1(M), A602, M25, A10
Rail: Stevenage Railway Station
Air: Luton Airport, Stansted Airport

Situation

Tenure

Long Leasehold. Held for a term of 127 years from 15/10/2001 at a fixed peppercorn rent.

Description

The property comprises a modern detached building comprising ground floor medical centre
accommodation. The property was formerly used as a children’s day nursery and may be suitable for longer term redevelopment to other uses including leisure (subject to consents).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

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	Review/ (Reversion)
Ground	Medical Centre	563.04 sq m	(6,059 sq ft)	BUSY BEES DAY NURSERIES (TRADING) LIMITED Guaranteed by Busy Bees Day Nurseries Limited and sublet to Hertfordshire Primary Care Trust (1)	25 years from 16/10/2001 to 15/10/2026 on a full repairing and insuring lease	£142,554	16/10/2017 Annual rental increases linked to RPI (2)
Totals		563.04 sq m	(6,059 sq ft)			£142,554

(1) For the year ending 31st December 2016, Busy Bees Day Nurseries (Trading) Limited reported a turnover of £26,336,000, pre-tax profits of £8,544,000 and a total net worth of £95,048,000 (Source: www.experian.com 07/09/2017). For the year ending 31st December 2016, Busy Bees Day Nurseries Limited reported a turnover of £33,524,000, pre-tax profits of £5,270,000 and a total net worth of £21,879,000 (Source: www.experian.com 07/09/2017).
(2) The property is sublet for a term of 10 years from 21/06/2010. The tenant as stated on the sub-lease is Hertfordshire Primary Care Trust which has now ceased to exist. The provider arm of the Hertfordshire Primary Care Trust developed as an NHS Trust and became Hertfordshire Community NHS Trust who is the current sub tenant.