41/45 Midland Road Bedford Bedfordshire MK40 1PW

41/45 Midland Road
Bedford
Bedfordshire
MK40 1PW

Prime Freehold Retail Investment

  • Let to Caversham Trading Limited (t/a Brighthouse)
  • Tenant break option between November 2014 and November 2015 not exercised
  • May 2015 Rent Review outstanding
  • Excellent retail position on pedestrianised Midland Road
  • Opposite The Harpur Shopping Centre housing occupiers including Primark, Boots and WH Smith
  • Other nearby occupiers include Marks & Spencer, Tesco Metro, BHS and Next
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    11
  • Auction
    23rd March 2016
  • Rent
    £70,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,000,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Insolvency Practitioners Deloitte
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Prime Freehold Retail Investment

  • Let to Caversham Trading Limited (t/a Brighthouse)
  • Tenant break option between November 2014 and November 2015 not exercised
  • May 2015 Rent Review outstanding
  • Excellent retail position on pedestrianised Midland Road
  • Opposite The Harpur Shopping Centre housing occupiers including Primark, Boots and WH Smith
  • Other nearby occupiers include Marks & Spencer, Tesco Metro, BHS and Next
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 11
  • Auction 23rd March 2016
  • Rent
  • Status Sold
  • Price £1,000,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Insolvency Practitioners Deloitte

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, Bedford St Johns Railway Station
Air
London Luton Airport
Situation

The property is situated in a prominent position on the northern side of the pedestrianised Midland Road, in the heart of the town centre. The property faces The Harpur Shopping Centre, which houses occupiers including Primark, Argos, Topshop/Topman, WH Smith and Boots the Chemist. Other nearby occupiers include Marks & Spencer, Tesco Metro, New Look, Bonmarché, BHS, Poundworld and Savers.

Tenure

Freehold.

Location
Miles
17 miles north-east of Milton Keynes, 28 miles south-west of Cambridge
Roads
A6, A421, A428, M1
Rail
Bedford Railway Station, Bedford St Johns Railway Station
Air
London Luton Airport
Situation

The property is situated in a prominent position on the northern side of the pedestrianised Midland Road, in the heart of the town centre. The property faces The Harpur Shopping Centre, which houses occupiers including Primark, Argos, Topshop/Topman, WH Smith and Boots the Chemist. Other nearby occupiers include Marks & Spencer, Tesco Metro, New Look, Bonmarché, BHS, Poundworld and Savers.

Tenure

Freehold.

Description

The property comprises a double-fronted ground floor retail unit with ancillary accommodation on the first floor. The property benefits from rear access via Saffron Close.
Six Week Completion

Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

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 double-fronted ground floor retail unit with ancillary accommodation on the first floor. The property benefits from rear access via Saffron Close.
Six Week Completion

Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

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
First
Retail/Ancillary
Ancillary
247.30 sq m
261.80 sq m
(2,662 sq ft)
(2,818 sq ft)
CAVERSHAM
TRADING LIMITED
(1) (t/a Brighthouse)
10 years from 18/05/2010
on a full repairing and insuring lease
£70,000 18/05/2015 (2)
(17/05/2020)
Totals  
509.10 sq m
(5,480 sq ft)
    £70,000

(1) Brighthouse now trade from over 300 stores in the UK. For the year ending 31st March 2015, Caversham Trading Limited reported a turnover of £67,479,000, pre-tax profits of £2,759,000 and a total net worth of £56,365,000. (Source: www.brighthouse.co.uk and Experian Group 22/02/2016).
(2) The May 2015 rent review remains outstanding. Any rental uplift is to be capped at £87,500 p.a.x.

Property Documents

  • Site Plan
    Updated Date
    30.10.19
    File Size
    103 KB
    View PDF
  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    618 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Olswang LLP 99 High Holborn
London
WC1V 6XX
Alice Donzelot 02070 717 342alice.donzelot@olswang.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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