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Lot 14 Click here for addendum

Commercial Investment - Gross Yield 10%
6 Week Completion

Situation

Occupying a prominent position close to the junction with the pedestrianised Market Square and High Street, nearby branches of Taylors Estate Agents, Timpson and Santander as well as a variety of independent retailers.
Leighton Buzzard is an attractive market town situated 12 miles north-west of Luton and 8 miles south of Milton Keynes, with excellent transport links being well served by the A5 and 9 miles from the M1 motorway (Junction 11A).

Property

Forming part of a mid-terrace Grade II Listed building comprising a Ground Floor Shop and Basement. In addition the property includes 2 Parking Spaces accessed via a front archway.

Accommodation

Ground Floor Shop
Gross Frontage 29'3"
Internal Width 28'7"
narrowing at rear to 8'10"
Shop Depth 37'3"
Built Depth 53'8"
Area Approx. 853 sq ft¹
WC
Basement
Area Approx. 125 sq ft

¹Area taken from VOA.

VAT is applicable to this Lot

Tenure

Leasehold for a term of 999 years from completion at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to Keech Hospice Care as a Charity Shop (having 33 branches) for a term of 10 years from 16th January 2020 at a current rent of £13,500 per annum exclusive.

Rent Review and Tenant's Break 2025

Note: In the Vendor's opinion, the retail market has improved considerably since the letting was carried out and the Vendor suggests that the ERV, were the premises to be let in the open market today, would be £25,000 p.a.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

6 North Street, Leighton Buzzard, Bedfordshire LU7 1EN