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*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
Important Auction & Property Update
  • 42 High Street<br>Leighton Buzzard<br>Bedfordshire<br>LU7 1EA
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* 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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/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)
£32,50025/06/2019 (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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    23.10.19
    File Size
    8 MB
    Login to View
  • Catalogue Page
    Updated Date
    02.10.19
    File Size
    979 KB
    View PDF
  • Site Plan
    Updated Date
    02.10.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Associate Auctioneers
High View Estates 2/8 Scrutton Street
London
EC2A 4RT
Alex Klemin 0207 247 1513a.klemin@highviewestates.co.uk
Seller's Solicitors
Hoffman-Bokaei Solicitors Suite 2, Exhibition House, Addison Bridge Place, Hammersmith Road
London
W14 8XP
Brian Hoffman 020 7433 2380bh@hoffman-bokaei.co.uk

Useful Links

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