Entirely let to Baleday Limited until November 2025 (no breaks)
Fixed Rental Uplift in 2020
Nearby occupiers include Lloyds TSB, Barclays, William Hill, Pizza Express and Boots Chemist
Currently producing £39,987 per annum exclusive rising to £45,685 per annum exclusive in 2020
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 51
Auction 11th February 2016
Rent £39,987 per Annum Exclusive
Status Sold
Price £540,000
Sector High Street Retail
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Joint LPA Receivers
Property Information
Location
Miles
13 miles north-west of Luton, 12 miles south of Milton Keynes
Roads
A5, M1 (Junction 11)
Rail
Leighton Buzzard Rail (34 minutes to London Euston)
Air
London Luton Airport
Situation
Leighton Buzzard is a town located near the Chiltern Hills between Luton and Milton Keynes. The property is situated in a prominent town centre position on Market Square, at its junction with Bell Alley. Nearby occupiers include Lloyds TSB, Barclays, William Hill, Pizza Express and Boots Chemist
Tenure
Freehold.
Location
Miles
13 miles north-west of Luton, 12 miles south of Milton Keynes
Roads
A5, M1 (Junction 11)
Rail
Leighton Buzzard Rail (34 minutes to London Euston)
Air
London Luton Airport
Situation
Leighton Buzzard is a town located near the Chiltern Hills between Luton and Milton Keynes. The property is situated in a prominent town centre position on Market Square, at its junction with Bell Alley. Nearby occupiers include Lloyds TSB, Barclays, William Hill, Pizza Express and Boots Chemist
Tenure
Freehold.
Description
The property, a Grade II listed building, comprises two ground floor retail units, with storage/ancillary accommodation on the upper floors.
Six Week Completion
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers 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.
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 available here.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a Grade II listed building, comprises two ground floor retail units, with storage/ancillary accommodation on the upper floors.
Six Week Completion
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers 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.
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 available here.
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
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
12
Ground First Second
Retail Storage/Ancillary Ancillary
70.8 sq m 159.4 sq m 70.7 sq m
(762 sq ft) (1,716 sq ft) (761 sq ft)
BALEDAY LIMITED (1) (2)
13 years 5 months from 01/07/2012 until 30/11/2025 on a full repairing and insuring lease
£39,987
01/12/2020 (3)
14
Ground First
Retail/Ancillary Storage/Ancillary
103.4 sq m 36.0 sq m
(1,113 sq ft) (388 sq ft)
Totals
440.30 sq m
(4,740 sq ft)
£39,987 rising to £45,685
(1) Baleday Limited is a wholly owned subsidiary of Praesepe Holdings Limited. Founded in 2007, The Praesepe Group has in excess of 170 leisure outlets across the UK with brands including Cashino, Gaming, Beacon Bingo and The Crystal Rooms (Source: www.praesepeplc.com 07/01/2016). (2) 14 Market Place has been sublet and is trading as a café. (3) The 2020 rent review provides a fixed uplift to £45,685 p.a. in 2020.
Contacts
Seller's Solicitors
Wedlake Bell Solicitors 52 Bedford Row London WC1R 4LR
