57 London Road Bedford Bedfordshire MK42 0NX

57 London Road
Bedford
Bedfordshire
MK42 0NX

Freehold Leisure Investment

  • Let to Mecca Bingo Limited - a part of The Rank Group
  • September 2016 Rent Review linked to RPI - (estimated rent as at March 2016 £197,206 per annum)
  • Approximately 19,448 sq ft with Car Parking
  • Site area of approximately 0.99 acres
  • Potential for alternative uses (subject to existing lease, planning and consents)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    23
  • Auction
    19th May 2016
  • Rent
    £179,687 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Leisure Investment

  • Let to Mecca Bingo Limited - a part of The Rank Group
  • September 2016 Rent Review linked to RPI - (estimated rent as at March 2016 £197,206 per annum)
  • Approximately 19,448 sq ft with Car Parking
  • Site area of approximately 0.99 acres
  • Potential for alternative uses (subject to existing lease, planning and consents)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 23
  • Auction 19th May 2016
  • Rent
  • Status Sold Post
  • Price  
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
17 miles north-east of Milton Keynes, 28 miles south-west of Cambridge
Roads
A6, A421, A428, M1
Rail
Bedford St Johns Railway Station
Air
London Luton Airport
Situation

The property is located on the western side of London Road (A600), close to its junction with Ivy Road and adjacent to the Kingfisher Business Park, about one mile south-east of Bedford town centre. Immediately adjacent to the property are tenants trading as Premier Kitchens & Bedrooms and The Picture Gallery, whilst the Kingfisher Business Park housing occupiers including Screwfix,
Crown Decorator Centre and Eurocell. Within walking distance is Alban Retail Park which house occupiers including B&M Home Store, Dunelm and Subway.

Tenure

Freehold.

Location
Miles
17 miles north-east of Milton Keynes, 28 miles south-west of Cambridge
Roads
A6, A421, A428, M1
Rail
Bedford St Johns Railway Station
Air
London Luton Airport
Situation

The property is located on the western side of London Road (A600), close to its junction with Ivy Road and adjacent to the Kingfisher Business Park, about one mile south-east of Bedford town centre. Immediately adjacent to the property are tenants trading as Premier Kitchens & Bedrooms and The Picture Gallery, whilst the Kingfisher Business Park housing occupiers including Screwfix,
Crown Decorator Centre and Eurocell. Within walking distance is Alban Retail Park which house occupiers including B&M Home Store, Dunelm and Subway.

Tenure

Freehold.

Description

The property comprises a bingo hall at ground, first and mezzanine floor levels. The property benefits from a surface and undercroft car park for approximately 40 cars. The approximate site area is 0.99 acres.

Six Week Completion

VAT

VAT is applicable to this lot.

EPC

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

Description

The property comprises a bingo hall at ground, first and mezzanine floor levels. The property benefits from a surface and undercroft car park for approximately 40 cars. The approximate site area is 0.99 acres.

Six Week Completion

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Floor Floor Areas (Approx) Tenant Term Rent p.a.x Review (Reversion)
Ground
First
Mezzanine
225.57 sq m
1,548.73 sq m
32.54 sq m
(2,428 sq ft)
(16,670 sq ft)
(350 sq ft)
MECCA BINGO
LIMITED (1)
Approximately 15 years
and 1 month from
10/08/2006
£179,687 29/09/2016(3)
(28/09/2021)(4)
Total
1,806.84 sq m
(19,448 sq ft)
    £179,687

(1) For the year ending 30th June 2015, Mecca Bingo Limited reported a turnover of £208,231,000, pre-tax profits of £23,804,000 and a total net worth of £457,546,000 (Source: Experian Group 06/06/2016). Mecca Bingo are part of The Rank Group who have been entertaining Britain since 1937 under the Mecca & Grosvenor Casino brands (Source www.rank.com 07/06/2016).
(2) The lease is subject to a schedule of condition.
(3) The 2016 rent review is linked to RPI and is capped at £208,307.04 per annum.
(4) The tenant has an option to renew at the end of the term of the lease.

Property Documents

  • Catalogue Page
    Updated Date
    31.10.19
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    31.10.19
    File Size
    86 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Hamlins Roxburghe House273-287 Regent Street
London
W1B 2AD
Mark Hurst +44 (0)20 7355 6024mark.hurst@hamlins.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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