42 High Street
Leighton Buzzard
Bedfordshire
LU7 1EA

Freehold Retail and Office Investment

Entirely let to Coral Racing Limited until 2024 (no breaks)
Includes retail unit and first floor self-contained offices
Residential potential of uppers (subject to consents)
2019 tenant break not exercised
A Rent Review notice has been served at £38,000
Nearby occupiers include Waitrose, Costa Coffee, Boots, Pizza Express, Barclays, Lloyds and HSBC Banks

Lot
30
Auction
24/Oct/2019
Rent
£32,500 per Annum Exclusive
Status
Available
Price*
£475,000 - £495,000
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Map

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

Property Information

Location

Miles: 40 miles north-west of Central London; 12 miles south-east of Milton Keynes; 13 miles north-west of Luton
Roads: A5, A418, A4146, M1
Rail: Leighton Buzzard Railway Station
Air: London Luton Airport, London Stansted Airport

Situation

Leighton Buzzard is an affluent and popular commuter market town located midway between Luton and Milton Keynes. The property is prominently situated on the south side of High Street, between Market Square and Waterborne Walk Shopping Centre in a prime retailing position. The town benefits from an outdoor market which is held twice a week. Nearby occupiers include Waitrose, Costa Coffee, Boots, Pizza Express, Barclays, Lloyds and HSBC Banks.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with self-contained office accommodation on the first floor. The first floor may be suitable for residential redevelopment subject to consents.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/Reversion
Ground First	Retail Office	124.07 sq m 115.66 sq m	(1,335 sq ft) (1,245 sq ft)	CORAL RACING LIMITED (1)	10 years from 25/06/2014 on a full repairing and insuring lease (2)	£32,500	25/06/2019 (3) (24/06/2024)
Total		239.73 sq m	(2,580 sq ft)			£32,500

(1) For the year ending 31st December 2017, Coral Racing Limited reported a turnover of £598,371,000, pre-tax profits of £7,642,000 and a total net worth of £75,914,000 (Experian Group: 11/09/2019).
(2) The tenant did not operate their June 2019 option to determine the lease.
(3) A Rent Review notice has been served on the tenant proposing a new rent of £38,000 for the 25/06/2019 review.