47 High Street Leighton Buzzard Bedfordshire LU7 1DN

47 High Street
Leighton Buzzard
Bedfordshire
LU7 1DN

Freehold Retail Investment

Let to Blacks Outdoor Retail Limited (t/a Millets) – a subsidiary of JD Sports Fashion plc
New 10 year lease from June 2014 (No breaks)
In occupation since 2004 (previously in Waterborne Walk Shopping Centre)
Prime location in popular market town
Located between Waterborne Walk and Boots the Chemist and close to Waitrose, WH Smith, 99p Stores and Costa Coffee
Affluent and growing commuter town

Lot
42
Auction
11th December 2014
Rent
£40,000 per Annum Exclusive
Status
Sold
Price
£495,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Retail Investment

Let to Blacks Outdoor Retail Limited (t/a Millets) – a subsidiary of JD Sports Fashion plc
New 10 year lease from June 2014 (No breaks)
In occupation since 2004 (previously in Waterborne Walk Shopping Centre)
Prime location in popular market town
Located between Waterborne Walk and Boots the Chemist and close to Waitrose, WH Smith, 99p Stores and Costa Coffee
Affluent and growing commuter town

Lot 42
Auction 11th December 2014
Rent £40,000 per Annum Exclusive
Status Sold
Price £495,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 12 miles south-east of Milton Keynes; 13 miles north-west of Luton; 42 miles north-west of Central London
Roads: A5, A418, A4146, M1
Rail: Leighton Buzzard Railway Station
Air: Luton Airport

Situation

Leighton Buzzard is an affluent and growing commuter market town located midway between Luton and Milton Keynes. The property is situated between Market Square and Waterborne Walk Shopping Centre in a prime retailing position on High Street.
The town also benefits from an outdoor market which is held twice a week.
Significant nearby retailers include Waitrose, Boots the Chemist, Wilkinson, New Look, Superdrug, Costa Coffee and WH Smith.

Tenure

Freehold.

Location

Miles: 12 miles south-east of Milton Keynes; 13 miles north-west of Luton; 42 miles north-west of Central London
Roads: A5, A418, A4146, M1
Rail: Leighton Buzzard Railway Station
Air: Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises ground floor retail with ancillary accommodation at basement, first and second floor levels.

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 ground floor retail with ancillary accommodation at basement, first and second floor levels.

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	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
Ground Basement First Second	Retail/Ancillary Ancillary Ancillary Ancillary	152.45 sq m 27.40 sq m 84.45 sq m 24.25 sq m	(1,641 sq ft) (295 sq ft) (909 sq ft) (261 sq ft)	BLACKS OUTDOOR RETAIL LIMITED t/a Millets (1)	10 years from 07/06/2014 on a full repairing and insuring lease	£40,000 (2)	07/06/2019 (06/06/2024)
Totals		288.55 sq m	(3,106 sq ft)			£40,000

(1) Blacks Outdoor Retail Limited is a subsidiary (and part of The Outdoor Division) of JD Sports Fashion plc. It currently trades from around 80 Millets and 74 Blacks stores. JD Sports Fashion plc are expanding Blacks Outdoor Retail Limited through corporate and single shop acquisitions, most recently acquiring Oswold Bailey Limited. (Source: www.jdplc.com and www.millets.co.uk).
(2)As part of the lease negotiations, the tenant was granted a rent free period of 9 months spread over the first five years of the term.
The seller will pay the buyer the rent that would have been due in the absence of the concessionary rental period. Therefore, the property will produce £40,000 p.a.x. from completion of the sale.