Freehold Convenience Store with 2 Vacant Residential Flats and Further Development Potential
Ground floor let to One Stop Stores Limited (Part of Tesco) until 2035 (subject to option)
Includes two flats subject to vacant possession and 6 car parking spaces at the rear
Potential to reconfigure and further develop the residential to create three flats (subject to consents)
Lot 18
Auction 4th November 2021
Rent £17,400 per Annum Exclusive
Status Sold Prior
Price
Sector Supermarket/Convenience
Auction Venue Live Streamed Auction
Property Information
Location
Miles
13 miles south east of Bedford
12 miles north east of Luton
35 miles north of central London
Roads
A507, A1 (Junction 10)
Rail
Arlesey Railway Station
Air
London Luton Airport, London Stansted Airport
Situation
Stotfold is some 5 miles north of Hitchin and approximately 35 miles north of Central London and benefits from being immediately adjacent to the A1(M) and is accessible via junction 10. The property is situated in a predominantly residential area on the east side of Regent Street, opposite its junction with Trinity Road, some 500 metres north of the town centre.
Tenure
Freehold.
Location
Miles
13 miles south east of Bedford
12 miles north east of Luton
35 miles north of central London
Roads
A507, A1 (Junction 10)
Rail
Arlesey Railway Station
Air
London Luton Airport, London Stansted Airport
Situation
Stotfold is some 5 miles north of Hitchin and approximately 35 miles north of Central London and benefits from being immediately adjacent to the A1(M) and is accessible via junction 10. The property is situated in a predominantly residential area on the east side of Regent Street, opposite its junction with Trinity Road, some 500 metres north of the town centre.
Tenure
Freehold.
Description
The property is a detached building comprising a lock up convenience store on the ground floor with two self contained flats on the first floor and the right to park 6 motor vehicles in the driveway to the side of the property. Please see the Transfer document dated 17th June 1997 under Title number BD199922, a copy of which is available in the legal pack.
The property may benefit from the potential to reconfigure and further develop the residential to create three flats (subject to consents).
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
See legal pack.
Description
The property is a detached building comprising a lock up convenience store on the ground floor with two self contained flats on the first floor and the right to park 6 motor vehicles in the driveway to the side of the property. Please see the Transfer document dated 17th June 1997 under Title number BD199922, a copy of which is available in the legal pack.
The property may benefit from the potential to reconfigure and further develop the residential to create three flats (subject to consents).
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground
Retail
150.01 sq m
(1,614 sq ft) (3)
ONE STOP STORES LIMITED (1)
15 years from 25/12/2020 (2)
£17,400
25/12/2025 (25/12/2035)
First
Residential
1 Bedroom Flat
VACANT POSSESSION
First
Residential
Studio Flat
VACANT POSSESSION
Total CommercialFloor Area
150.01 sq m
(1,614 sq ft)(3)
£17,400
(1) For the year ending 29th February 2020, One Stop Stores Limited(CRN02462858) whose ultimate beneficial owner is Tesco PLC, reported a turnover of £1,175,302,000, pre-tax profits of £27,614,000 and a Net Worth of £148,002,000 (NorthRow.com 04/10/2021) (2) The lease provides for a tenant option to determine the lease on 25/12/2026 and 25/12/2031. (3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk)
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.
