Entirely let to Coral Racing Limited until 2024 (no breaks)
Includes retail unit and first floor self-contained offices
Residential potential of uppers (subject to consents)
2019 tenant break not exercised
A Rent Review notice has been served at £38,000
Nearby occupiers include Waitrose, Costa Coffee, Boots, Pizza Express, Barclays, Lloyds and HSBC Banks
Lot 30
Auction 24th October 2019
Rent £32,500 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
40 miles north-west of Central London
12 miles south-east of Milton Keynes
13 miles north-west of Luton
Roads
A5, A418, A4146, M1
Rail
Leighton Buzzard Railway Station
Air
London Luton Airport, London Stansted Airport
Situation
Leighton Buzzard is an affluent and popular commuter market town located midway between Luton and Milton Keynes. The property is prominently situated on the south side of High Street, between Market Square and Waterborne Walk Shopping Centre in a prime retailing position. The town benefits from an outdoor market which is held twice a week. Nearby occupiers include Waitrose, Costa Coffee, Boots, Pizza Express, Barclays, Lloyds and HSBC Banks.
Tenure
Freehold.
Location
Miles
40 miles north-west of Central London
12 miles south-east of Milton Keynes
13 miles north-west of Luton
Roads
A5, A418, A4146, M1
Rail
Leighton Buzzard Railway Station
Air
London Luton Airport, London Stansted Airport
Situation
Leighton Buzzard is an affluent and popular commuter market town located midway between Luton and Milton Keynes. The property is prominently situated on the south side of High Street, between Market Square and Waterborne Walk Shopping Centre in a prime retailing position. The town benefits from an outdoor market which is held twice a week. Nearby occupiers include Waitrose, Costa Coffee, Boots, Pizza Express, Barclays, Lloyds and HSBC Banks.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with self-contained office accommodation on the first floor. The first floor may be suitable for residential redevelopment subject to consents.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack at acuitus.co.uk
Description
The property comprises a ground floor retail unit with self-contained office accommodation on the first floor. The first floor may be suitable for residential redevelopment subject to consents.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/Reversion
Ground First
Retail Office
124.07 sq m 115.66 sq m
(1,335 sq ft) (1,245 sq ft)
CORAL RACING LIMITED (1)
10 years from 25/06/2014 on a full repairing and insuring lease (2)
£32,500
25/06/2019 (3) (24/06/2024)
Total
239.73 sq m
(2,580 sq ft)
£32,500
(1) For the year ending 31st December 2017, Coral Racing Limited reported a turnover of £598,371,000, pre-tax profits of £7,642,000 and a total net worth of £75,914,000 (Experian Group: 11/09/2019). (2) The tenant did not operate their June 2019 option to determine the lease. (3) A Rent Review notice has been served on the tenant proposing a new rent of £38,000 for the 25/06/2019 review.
