Unit E Bedford Business Centre, Mile Road Bedford Bedfordshire MK42 9TW

Unit E
Bedford Business Centre, Mile Road
Bedford
Bedfordshire
MK42 9TW

Virtual Freehold Office Investment

  • Let to Kimm & Miller (UK) Ltd on a new 5 year reversionary lease until 2022 (no breaks)
  • Tenant in occupation since at least 2012
  • Benefits from on-site car parking
  • Situated on well located and established business park
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    36
  • Auction
    30th March 2017
  • Rent
    £47,583 per Annum Exclusive
  • Status
    Sold
  • Price
    £500,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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* More information on the term "guide" can be found here

Virtual Freehold Office Investment

  • Let to Kimm & Miller (UK) Ltd on a new 5 year reversionary lease until 2022 (no breaks)
  • Tenant in occupation since at least 2012
  • Benefits from on-site car parking
  • Situated on well located and established business park
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 36
  • Auction 30th March 2017
  • Rent
  • Status Sold
  • Price £500,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
1 mile south-east of Bedford town centre, 17 miles north-east of Milton Keynes, 28 miles south-west of Cambridge
Roads
A5134, A600, A421, A6, M1 (Junction 13)
Rail
Bedford and Bedford St John’s Railway Stations
Air
London Luton Airport
Situation

The property is situated on the established Bedford Business Park, which is strategically located 1 mile southeast of Bedford town centre on Mile Road (A5134), which connects the A6 and the A421, which in turn provides access to the M1 and national motorway network. Nearby occupiers include Travis Perkins, Brewers, SIG Plc, European Oat Millers, Plumbase and the adjacent Bedford Academy.

Tenure

Virtual Freehold. To be held for a term of 999 years from completion of the sale at a peppercorn rent.

Location
Miles
1 mile south-east of Bedford town centre, 17 miles north-east of Milton Keynes, 28 miles south-west of Cambridge
Roads
A5134, A600, A421, A6, M1 (Junction 13)
Rail
Bedford and Bedford St John’s Railway Stations
Air
London Luton Airport
Situation

The property is situated on the established Bedford Business Park, which is strategically located 1 mile southeast of Bedford town centre on Mile Road (A5134), which connects the A6 and the A421, which in turn provides access to the M1 and national motorway network. Nearby occupiers include Travis Perkins, Brewers, SIG Plc, European Oat Millers, Plumbase and the adjacent Bedford Academy.

Tenure

Virtual Freehold. To be held for a term of 999 years from completion of the sale at a peppercorn rent.

Description

The property comprises a two storey end of terrace office building and benefits from suspended ceilings, recessed Cat II lighting, central heating and right to park 18 cars to the front and rear.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a two storey end of terrace office building and benefits from suspended ceilings, recessed Cat II lighting, central heating and right to park 18 cars to the front and rear.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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 Reversion
Ground
First
Office
Office
238.50 sq m 254.60 sq m
(2,567 sq ft) (2,735 sq ft)
KIMM & MILLER (UK) LTD (1)
10 years from 03/04/2012 on a full
repairing and insuring
lease (2)
£47,583 (2)
02/04/2022
Total
 
492.60 sq m
(5,302 sq ft)
    £47,583
 

(1) Formed in 2007, Kimm & Miller specialise in the design and manufacture of unique, high-quality gift products. For the year ending 29th February 2016, Kimm & Miller (UK) Ltd reported a turnover of £14,381,033, pre-tax profits of £95,077 and a total net worth of £1,616,682 (Source: Experian Group 27/02/2017).
(2) The tenant occupies the property under a lease for a term of 5 years from 3rd April 2012 at a current rent of £46,262 p.a.x. The parties have signed a reversionary lease for a term of 5 years from 3rd April 2017 (with no breaks) at a rent of £47,583 p.a.x. The tenant is to benefit from a 3 month rent free period commencing 3rd April 2017. The Seller has agreed to adjust the completion monies so that the property will effectively produce £47,583 p.a.x. from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    794 KB
    View PDF
  • Site Plan
    Updated Date
    29.10.19
    File Size
    436 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
Reed Smith LLP The Broadgate Tower, 20 Primrose Street
London
EC2A 2RS
Jamie Garside 0203 116 2806jgarside@reedsmith.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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