Freehold Long Let Supported Living Investment with RPI Rent Reviews
Let to Juventas Services Limited, a Supported Living Provider
New 25 year lease from March 2021, expiring in March 2046 (subject to option)
RPI Linked Rent Reviews - minimum uplift to £49,021 pa in 2026, £54,123 pa in 2031 and £59,757 pa in 2036
Alternative Use Potential (subject to lease & consents)
Includes large garden to the rear on 0.48 acre
(0.20 ha) site
VAT-Free Investment
Lot 22
Auction 24th September 2021
Rent £44,400 per Annum Exclusive
Status Sold Prior
Price
Sector Medical Centre/Doctors, Healthcare
Auction Venue Live Streamed Auction
Property Information
Location
Miles
2 miles south of March Town Centre
17 miles east of Peterborough
27 miles north of Cambridge
Roads
A141, A142
Rail
March
Air
Cambridge Airport, London Stansted
Situation
March is a market town and civil parish in Cambridgeshire, approximately 17 miles east of Peterborough and 27 miles north of Cambridge. The property is located on the east side of Wimblington Road, at it's junction with Hook Drove, and close to Mill Hill Roundabout, providing access onto the A141 which provides access onto the A1. The property is situated in a relatively rural location with nearby occupiers including Mill Hill Garage (Petrol Filling Station) and PT Motors car dealer.
Tenure
Freehold.
Location
Miles
2 miles south of March Town Centre
17 miles east of Peterborough
27 miles north of Cambridge
Roads
A141, A142
Rail
March
Air
Cambridge Airport, London Stansted
Situation
March is a market town and civil parish in Cambridgeshire, approximately 17 miles east of Peterborough and 27 miles north of Cambridge. The property is located on the east side of Wimblington Road, at it's junction with Hook Drove, and close to Mill Hill Roundabout, providing access onto the A141 which provides access onto the A1. The property is situated in a relatively rural location with nearby occupiers including Mill Hill Garage (Petrol Filling Station) and PT Motors car dealer.
Tenure
Freehold.
Description
The property comprises a two storey care centre which was formerly a 5 bedroom house. The property comprises six bedrooms and a study on the first floor, a kitchen and four living/reception rooms on the ground floor together with a large garden to the rear, on a site area of approximately 0.48 acres (0.20 ha).
VAT
VAT is not applicable to this lot.
Planning
The property, previously a 5 bedroom house, may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to www.fenland.gov.uk/planningandbuilding
Completion Period
Six Week Completion
EPC
See legal pack at www.acuitus.co.uk.
Description
The property comprises a two storey care centre which was formerly a 5 bedroom house. The property comprises six bedrooms and a study on the first floor, a kitchen and four living/reception rooms on the ground floor together with a large garden to the rear, on a site area of approximately 0.48 acres (0.20 ha).
VAT
VAT is not applicable to this lot.
Planning
The property, previously a 5 bedroom house, may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to www.fenland.gov.uk/planningandbuilding
Completion Period
Six Week Completion
EPC
See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground/First
Children’s Care Home/ Ancillary
213.68 sq m
(2,300 sq ft)
JUVENTAS SERVICES LIMMITED (1)
25 years from 09/03/2021 until 08/03/2046 (2) on a full repairing and insuring lease
£44,400
5 yearly compounded RPI linked rent reviews, collared at 2% pa and capped at 4% pa
Total
213.68 sq m
(2,300 sq ft)
£44,400
(1) Juventas Services Limited, incorporated in 2015 is an innovative and forward-thinking organisation who are focused upon delivering high-quality services to vulnerable children and young people (www.juventasservices.co.uk). Juventas currently operates from 15 properties throughout Cambridgeshire & the UK (Juventas Management Extracts, August 2020). (2) The lease is subject to a tenant option to determine on 09/03/2036.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Contacts
Seller's Solicitors
ET Law Reedham House, 31-33 King Street West Manchester M3 2PN 0161 866 8887
