Freehold Retail and Office Investment with Development Potential
Existing building currently arranged as four retail units and a self contained office
Residential development potential (Subject to consents)
Prominent corner position in the centre of town
Nearby occupiers include Domino's Pizza, Co-op Food and Morrisons.
Lot 27
Auction 21st May 2020
Rent £71,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of Trustees
Property Information
Location
Miles
45 miles North of Central London
25 miles south-west of Cambridge
Roads
A1, A6, A507, M25
Rail
Arlesey Railway Station
Air
London Luton and London Stansted Airport
Situation
This Grade II listed property is located in the picturesque market town of Shefford, conveniently located approximately 45 miles north of Central London, 9 miles south-east of Bedford and 5 miles south-west of Biggleswade. The property is situated in the centre of Shefford on the High Street, in a prominent corner position at the junction with Northbridge Street. Nearby occupiers include Domino's Pizza, Co-op Food and Morrisons.
Tenure
Freehold.
Location
Miles
45 miles North of Central London
25 miles south-west of Cambridge
Roads
A1, A6, A507, M25
Rail
Arlesey Railway Station
Air
London Luton and London Stansted Airport
Situation
This Grade II listed property is located in the picturesque market town of Shefford, conveniently located approximately 45 miles north of Central London, 9 miles south-east of Bedford and 5 miles south-west of Biggleswade. The property is situated in the centre of Shefford on the High Street, in a prominent corner position at the junction with Northbridge Street. Nearby occupiers include Domino's Pizza, Co-op Food and Morrisons.
Tenure
Freehold.
Description
The property is a substantial three storey corner building currently comprising 4 retail units and a self contained office. The upper floors might be suitable for residential development (subject to consents).
VAT
VAT is not applicable to this lot.
Planning
Planning consent was granted in 2006 (ref:06/00183/FULL) for 4 shop units, 3 flats and 1 maisonette, although this has since lapsed. (centralbedfordshire.gov.uk/planning)
Completion Period
Six Week Completion
EPC
Available from the legal pack at acuitus.co.uk
Description
The property is a substantial three storey corner building currently comprising 4 retail units and a self contained office. The upper floors might be suitable for residential development (subject to consents).
VAT
VAT is not applicable to this lot.
Planning
Planning consent was granted in 2006 (ref:06/00183/FULL) for 4 shop units, 3 flats and 1 maisonette, although this has since lapsed. (centralbedfordshire.gov.uk/planning)
Completion Period
Six Week Completion
EPC
Available from the legal pack at acuitus.co.uk
Tenancy & Accommodation
Unit
Floor
Use
Tenant
Term
Rent p.a.x
Review/ (Reversion)
1&2
Ground
Retail
H & T SMITH t/a Rosebuds Tea Rooms
10 years from 19/02/2016
£20,000
19/02/2021 (18/02/2026)
3
Ground and First
Retail
INDIVIDUALS t/a Especially You (Hairdresser)
7 years from 07/07/2014
£18,000
(06/07/2021) (1)
4
Ground
Retail
SPITFIRE TRAVEL LTD (Travel Agent)
10 years from 09/12/2015
£10,000
(08/12/2025)
5
Ground, First and Cellar
Retail
INDVIDUAL t/a The Loft (restaurant/bistro)
10 years from 09/01/2014
£17,000
(08/01/2024)
6
Second
Office
SHEFFORD ACCOUNTANCY SERVICES LTD
(2)
£6,000
(2)
Total
£71,000
(1) As to unit 3, the tenant has expressed interest in taking more space within the building together with renewing their existing lease. (2) As to unit 6, the tenant has exercised their option to determine the lease, which will take effect in June 2020.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
