6 Week completion
Located in the Stratford Office Village amongst a variety of occupiers, just off Great Monks Street (V5) and being in this mixed commercial and residential area and only 1½ miles to Wolverton Rail Station. The open spaces of Ouse Valley Park are a short distance to the north.
Wolverton lies approx. 3 miles north-west of Milton Keynes and benefits from excellent road access via the A5 and M1 (Junction 14).
Comprising 2 interconnecting Office Buildings arranged over ground and first floors with allocated parking for 14 Cars.
Ground Floor Offices
Area Approx. 2,585 sq ft
Plus Kitchen & WCs
First Floor Offices
Area Approx. 2,465 sq ft
Plus WC ________________
Total Area Approx. 5,050 sq ft
VAT is applicable to this Lot
Leasehold - Held on 2 separate leases each for a term of 999 years (less 3 days) from 22nd November 2002 at a fixed ground rent of £10 p.a. (Total ground rent is £20 p.a.).
The entire property is let on a full repairing and insuring lease to DDRT Limited (operating as The Retail Ombudsman - see Tenant Profile) for a term from 9th September 2016 to 31st December 2030 (in occupation since January 2016) at a current rent of £60,000 per annum exclusive rising to £65,000 p.a. in 2021 and £70,000 p.a. in 2026.
In 2015, DDRT Ltd were given a long-term operating contract from The Retail Ombudsman to provide professional services which runs past the period of the lease. The Retail Ombudsman is authorised by Government to operate as an ‘ombudsman' and is an approved alternative dispute resolution provider in the retail, home services, non-regulated energy and aviation sectors