65-67 George Street Luton Bedfordshire LU1 2AP

65-67 George Street
Luton
Bedfordshire
LU1 2AP

Freehold Retail Investment

Ground & part first floors let to Savers Health and Beauty Limited on a new 10 year lease until 2023 (subject to note 2 below)
Prime town centre location opposite The Mall Shopping Centre
Nearby occupiers include Primark, BHS, McDonald’s, Lloyds TSB and HSBC
Six Week Completion

Lot
9
Auction
13th February 2014
Rent
£65,000 per Annum Exclusive
Status
Sold
Price
£710,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers

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Freehold Retail Investment

Ground & part first floors let to Savers Health and Beauty Limited on a new 10 year lease until 2023 (subject to note 2 below)
Prime town centre location opposite The Mall Shopping Centre
Nearby occupiers include Primark, BHS, McDonald’s, Lloyds TSB and HSBC
Six Week Completion

Lot 9
Auction 13th February 2014
Rent £65,000 per Annum Exclusive
Status Sold
Price £710,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers

Property Information

Location

Miles: 20 miles south-east of Milton Keynes, 33 miles north-west of Central London
Roads: A6, A505, M1 (Jct 10/11)
Rail: Luton Rail (direct to London in approximately 35 mins)
Air: Luton Airport

Situation

The property is situated in a prime location in Luton town centre on the southern side of George Street. The property lies opposite an entrance to The Mall Shopping Centre which houses retailers such as Boots, Marks and Spencer, Debenhams, Next and H&M. Other nearby occupiers include Primark, BHS, McDonald’s, Lloyds TSB and HSBC.

Tenure

Freehold.

Location

Miles: 20 miles south-east of Milton Keynes, 33 miles north-west of Central London
Roads: A6, A505, M1 (Jct 10/11)
Rail: Luton Rail (direct to London in approximately 35 mins)
Air: Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with storage accommodation on part first floor. The remaining part first and second floors are accessed via a staircase within the retail tenant’s demise.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers Phillip Matthews and Edward Starling and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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 Storage	261.07 sq m 112.97 sq m	(2,810 sq ft) (1,216 sq ft)	SAVERS HEALTH AND BEAUTY LIMITED (1)	10 years from 12/09/2013 until 11/09/2023 on a full repairing and insuring lease (2)	£65,000	12/09/2018
First Second	Storage Storage	153.93 sq m 105.70 sq m	(1,657 sq ft) (1,138 sq ft)	VACANT POSSESSION
Totals		633.67 sq m	(6,821 sq ft)			£65,000

(1) Founded in 1988, Savers currently runs over 230 stores, extending throughout England, Scotland and Wales. (Source: www.savers.co.uk 15/01/2014)
(2)The lease provides a tenant’s option to determine on the fifth anniversary of the term on payment to the landlord of £32,500.