New 10 year lease from July 2016 (subject to option)
Close to Marks & Spencer, Primark, Debenhams, Boots the Chemist and Next
Pedestrianised trading location close to The Harpur Shopping Centre
Popular and affluent county town
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 4
Auction 16th February 2017
Rent £50,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
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 Railway Station
Air
London Luton Airport
Situation
The property is prominently situated on the eastern side of Harpur Street, which connects to Silver Street to the south, in the heart of Bedford town centre. Nearby occupiers include Clarks,
Poundland and Burger King, with Marks & Spencer diagonally opposite. The Harpur Shopping Centre is located nearby housing retailers including Primark, Tesco Metro, Boots the Chemist, WH Smith and Debenhams.
Tenure
Freehold. Part of the shop to the rear at ground floor is held long leasehold for a term of 999 years from 9th September 1960.
Location
Miles
17 miles north-east of Milton Keynes, 28 miles south-west of Cambridge
Roads
A6, A421, A428, M1
Rail
Bedford Railway Station
Air
London Luton Airport
Situation
The property is prominently situated on the eastern side of Harpur Street, which connects to Silver Street to the south, in the heart of Bedford town centre. Nearby occupiers include Clarks,
Poundland and Burger King, with Marks & Spencer diagonally opposite. The Harpur Shopping Centre is located nearby housing retailers including Primark, Tesco Metro, Boots the Chemist, WH Smith and Debenhams.
Tenure
Freehold. Part of the shop to the rear at ground floor is held long leasehold for a term of 999 years from 9th September 1960.
Description
The property comprises a ground floor shop with retail/ancillary accommodation on the first floor.
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 ground floor shop with retail/ancillary accommodation on the first floor.
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
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Retail/Ancillary Retail/Ancillary
178.84 sq m 141.39 sq m
(1,925 sq ft) (1,522 sq ft)
SUE RYDER (2)
10 years from 28/07/2016 until 27/07/2026 (3) on a full repairing and insuring lease
£50,000 (1)
28/07/2021
Totals
320.23 sq m
(3,447 sq ft)
£50,000 (1)
(1) The lease is subject to fixed rental increases until July 2020. The current rent under the terms of the lease is £22,500 per annum rising to £45,000 per annum on 28/10/2017, rising to £47,500 per annum on 28/07/2018 and then £50,000 per annum on 28/07/2020. The seller has agreed to adjust the completion monies so that the property will effectively produce £50,000 per annum from completion of the sale. (2) Sue Ryder is a registered charity providing health and social care services in local communities. Sue Ryder has more than 11,000 volunteers and is supported through fundraising and retail activities via over 450 outlets nationwide. (Source: www.sueryder.org 09/01/2017). This is Sue Ryder's only shop in Bedford town centre with their St. John's Hospice located about six miles away. (3) The lease is subject to a tenant only option to determine on 28th July 2021. (4) Part of the shop to the rear at ground floor is held long leasehold for a term of 999 years from 9th September 1960.
