Let to Meller Design Solutions Limited on a five year lease renewal (subject to option)
Tenant in occupation of Unit H since at least 2008
Benefits from on-site parking
Situated on well located and established business park
Lot 85
Auction 19th October 2017
Rent £69,543 per Annum Exclusive
Status Sold
Price £745,000
Sector Office
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
1 mile south-east of Bedford town centre, 17 miles north-east of Milton Keynes, 28 miles south-west of Cambridge
Roads
A5134, A600, A421, A6, M1 (Junction 13)
Rail
Bedford and Bedford St Johns Railway Stations
Air
London Luton Airport
Situation
Business Park, which is strategically located 1 mile southeast of Bedford town centre on Mile Road (A5134), which connects the A6 and the A421, which in turn provides access to the M1 and national motorway network. Nearby occupiers include Travis Perkins, Brewers, SIG Plc, European Oat Millers, Plumbase and the adjacent Bedford Academy.
Tenure
Virtual Freehold. To be held for a term of 999 years from completion of the sale at a peppercorn rent.
Location
Miles
1 mile south-east of Bedford town centre, 17 miles north-east of Milton Keynes, 28 miles south-west of Cambridge
Roads
A5134, A600, A421, A6, M1 (Junction 13)
Rail
Bedford and Bedford St Johns Railway Stations
Air
London Luton Airport
Situation
Business Park, which is strategically located 1 mile southeast of Bedford town centre on Mile Road (A5134), which connects the A6 and the A421, which in turn provides access to the M1 and national motorway network. Nearby occupiers include Travis Perkins, Brewers, SIG Plc, European Oat Millers, Plumbase and the adjacent Bedford Academy.
Tenure
Virtual Freehold. To be held for a term of 999 years from completion of the sale at a peppercorn rent.
Description
The property comprises two adjoining office buildings arranged over ground and first floors, benefiting from suspended ceilings, recessed Cat II lighting, central heating and the right to park 35 cars to the front and rear of the buildings.
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
The property comprises two adjoining office buildings arranged over ground and first floors, benefiting from suspended ceilings, recessed Cat II lighting, central heating and the right to park 35 cars to the front and rear of the buildings.
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
Reversion
Ground First
Office Office
357.87 sq m 374.60 sq m
(3,852 sq ft) (4,032 sq ft)
MELLER DESIGN SOLUTIONS LIMITED (1)
5 years from 31/03/2017 on a full repairing and insuring lease (2)
£69,543
30/03/2022
Totals
732.47 sq m
(7,884 sq ft)
£69,543
(1) For the year ending 31st December 2016, Meller Design Solutions Limited reported a turnover of £21,236,894, pre-tax profits of £1,470,170 and a total net worth of £5,639,088 (Source: www.riskdisk.com 29/08/2017). (2) The lease provides for a tenant option to determine on 30th March 2020 upon providing 6 months’ prior written notice.
Contacts
Seller's Solicitors
Reed Smith LLP The Broadgate Tower, 20 Primrose Street London EC2A 2RS
