96 Queensway
Bletchley, Milton Keynes
Buckinghamshire
MK2 2RU

Prominent Retail Investment

  • Prominent position on Bletchley's principal retailing thoroughfare
  • Tenant in occupation since at least 1995
  • 4 miles south of Milton Keynes
  • Nearby occupiers include Specsavers, Barclays, Halifax and Lloyds banks and Greggs
  • Producing £22,000 p.a.x. (subject to note 2)
  • Lot
    67
  • Auction
    13/Jul/2017
  • Rent
    £22,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £250,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • 96 Queensway<br>Bletchley, Milton Keynes<br>Buckinghamshire<br>MK2 2RU
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Property Information

Location
Miles
4 miles south of Milton Keynes, 22 miles north-west of Luton, 47 miles north-west of London
Roads
M1, A5, A421
Rail
Bletchley Railway Station
Air
London Luton Airport
Situation

Bletchley is located some 4 miles south of Milton Keynes and has excellent communications to London via the M1. The property is situated on the south side of Queensway, the principal retailing street in Bletchley. Neighbouring occupiers include Specsavers, Barclays, Halifax and Lloyds banks and Greggs. The Brunel Shopping Centre is some 100 metres to the west.

Tenure

Virtual Freehold. Held for a term of 999 years from completion at a fixed peppercorn rent.

Description

The property comprises a ground floor retail unit which forms part of a larger building.

VAT

VAT is applicable to this lot.

Note

90 Queensway is being offered as lot 76.

Completion Period

Six Week Completion

Buyer's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews
Floor
Retail
141.25 sq m
(1,520 sq ft)
INDIVIDUAL
t/a Partyrama
15 years from
15/03/2017 until 2032 (1)
£22,000 (2)15/03/2022
15/03/2027
Totals 
141.25 sq m
(1,520 sq ft)
  £22,000 (2) 

(1) The lease provides for a tenant option to determine the lease on 14th March 2022 and 14th March 2027.
(2) The current rent reserved under the terms of the lease is £21,500 per annum exclusive. The lease provides for the rent to increase to £22,000 per annum exclusive on 15th March 2019. The seller will pay the buyer the difference between the current rent reserved of £21,500 per annum exclusive and £22,000 per annum exclusive from completion of the sale until 15th March 2019. Therefore the property will produce an income of £22,000 per annum exclusive from completion of the sale.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    05.07.17
    File Size
    12 MB
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  • Catalogue Page
    Updated Date
    21.06.17
    File Size
    974 KB
    View PDF
  • Site Plan
    Updated Date
    21.06.17
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Alec LinfieldAlec Linfield +44 (0)20 7034 4860alec.linfield@acuitus.co.uk
Seller's Solicitors
Boyes Turner LLP Abbots House , Abbey Street
Reading
RG1 3BD
Philip Jacques 0118 952 7246pjacques@boyesturner.com

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