Predominantly let to NHS Property Services Limited
Lease expires March 2025
2017 Rent Review outstanding (notice recently served quoting £75,200 per annum)
Approximately 3,829 sq ft with on-site car parking
Popular and affluent Hertfordshire commuter town
Lot 25
Auction 5th December 2018
Rent Gross: £69,750 per Annum Exclusive
Status Withdrawn Post
Price
Sector Medical Centre/Doctors, Healthcare
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
4 miles north-east of Hitchin, 20 miles south-west of Cambridge
Roads
A505, A1(M) (Junction 9)
Rail
Letchworth Garden City Railway Station
Air
London Luton Airport
Situation
The property is situated in a predominantly residential location, at the junction of Sollershott East and Ralph Swingler Place, with Baldock Road (A505) to the south and Letchworth Garden City centre some 0.5 miles to the north.
Tenure
Leasehold. The property is held from Letchworth Garden City Heritage Foundation for a term of 125 years from 24/06/2001 until 23/06/2126 at nil rent.
Location
Miles
4 miles north-east of Hitchin, 20 miles south-west of Cambridge
Roads
A505, A1(M) (Junction 9)
Rail
Letchworth Garden City Railway Station
Air
London Luton Airport
Situation
The property is situated in a predominantly residential location, at the junction of Sollershott East and Ralph Swingler Place, with Baldock Road (A505) to the south and Letchworth Garden City centre some 0.5 miles to the north.
Tenure
Leasehold. The property is held from Letchworth Garden City Heritage Foundation for a term of 125 years from 24/06/2001 until 23/06/2126 at nil rent.
Description
The property comprises a ground and part first floor doctors surgery, with a residential flat located on part first floor, which is let on a long lease. The property benefits from a large site with car parking for approximately 7 cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
EPC Rating Band C. See legal pack at acuitus.co.uk
Description
The property comprises a ground and part first floor doctors surgery, with a residential flat located on part first floor, which is let on a long lease. The property benefits from a large site with car parking for approximately 7 cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
EPC Rating Band C. See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Part First
Medical Surgery Medical Surgery
248.02 sq m 107.66 sq m
(2,670 sq ft) (1,159 sq ft)
NHS PROPERTY SERVICES LIMITED (1)
20 years from 25/03/2005 until 24/03/2025
£69,750
25/03/2017 (2) 25/03/2021
Part First
Residential Flat
-
(-)
AN INDIVIDUAL
125 years from 25/12/1988 until 24/12/2113
–
–
Total Commercial Area
355.68 sq m
(3,829 sq ft)
£69,750
(1) For the year ended 31st March 2017, NHS Property Services Limited reported a turnover of £792,269,000, a pre-tax loss of £32,786,000 and a net worth of £3,269,287,000 (Source : Experian 01/11/2018). (2) The 2017 rent review is outstanding and a rent review notice quoting £75,200 p.a. has been served. NB. Under the provisions of the Estate Agents Act 1979, a Director of the Associate Auctioneer declares an interest in this property.
