Unsold - Refer to Auctioneer
Commercial investment comprising a block of 5 retail units with 5 flats above
Addendum:
1) Flat 2, 67 Queensway - The sellers solicitors have been informed by the letting agent that the current rent is £510 pcm 2) Flat 3, 67 Queensway – The rent is £525 pcm. Let on a 6 month AST from 19th June 2015. 3) Flat 6, 67 Queensway, - The sellers solicitor have been informed by the letting agent that tenancy is on a periodic tenancy and the rent is currently £425.00 per month and will increase on the 1st April 2016 to £450.00 per calendar month. 4) Flat 7 at 67 Queensway – The AST commenced on the 28th November 2003 for a term of 12 months and is now periodic. 5) First Floor Flat, 65 Queensway – The tenancy is now periodic and the rent is £360 pcm 6) The total rent roll based on this information is increased to £202,530
Description/Location
Bletchley is located approximately 2.5 miles to the south west of Milton Keynes. Junction 14 of the M1 is approximately 4 miles. Rail services to London Euston are available. The property comprises a terrace of 5 retail units with 5 flats above. The property also benefits from a rear car park/loading area accessed via a service road.
| Floor | Accommodation | Current Rent | Rent Terms |
|---|---|---|---|
| 53-55 Queensway | Ground floor retail unit 7499 sq/ft (ITZA 1568 sq/ft) & first floor offices 2957 sq/ft (source RICS report) | £73,500 p.a. | Let on a 63 year effective F.R.I. lease from 25th December 1963 to 24th December 2026. Rent review every 21 years. |
| 57-59 Queensway | Ground floor retail unit 1954 sq/ft (ITZA 1189 sq/ft) & first floor accommodation 1276 sq/ft (source RICS report) | £40,000 p.a. | Let to 'Cash Converters (UK) Ltd' on a 10 year F.R.I. lease from 12th December 2012. Rent review on 5th year. |
| 61 Queensway | Ground floor retail unit 976 sq/ft (ITZA 591 sq/ft). Source RICS report) | £17,500 p.a | Let to 'Card Shop' on a 12 year F.R.I. lease from 23rd May 2015. Rent reviews every 3 years. |
| 63 Queensway | Ground floor retail unit 1010 sq/ft (ITZA 608 sq/ft). Source RICS report | £20,000 p.a. | Let to D.W. Roberts (Optometrists) on a 5 year I.R.I lease from 3rd July 2012. |
| 65 Quensway | Ground floor retail unit 1053 sq/ft (ITZA 614 sq/ft). Source RICS report) | £23,750 p.a | Let to Don Brothers (Cash Betting Ltd), trading as 'Betfred' on a 10 year F.R.I lease from 11th February 2015. Rent review on 5th year. |
| Flat 2, 67 Queensway | A 2 bedroom flat with lounge, kitchen and bathroom (700 sq/ft. Source EPC) | £6120 p.a. | Let on an Assured Shorthold Tenancy for 12 months from 25th August 2014. £510 p.c.m |
| Flat 3, 67 Queensway | A 2 bedroom flat with lounge, kitchen, and bathroom (678 sq/ft. Source EPC) | £6300 p.a. | Let on an Assured Shorthold Tenancy for 6 months from 19th June 2015. Rent £525 p.c.m. |
| Flat 6, 67 Queensway | A 2 bedroom flat with lounge, kitchen and bathroom (613 sq/ft. Source EPC) | £5100 | Let on an Assured Shorthold Tenancy for 6 months from 1st November 2002. £425 p.c.m. |
| Flat 7, 67 Queensway | A 2 bedroom flat with lounge, kitchen, bathroom (603 sq/ft. Source EPC) | £5940 | Let on an Assured Shorthold Tenancy for 12 months from 28th November 2003. £495 p.c.m |
| First Floor Flat, 65 Queensway | A 2 bedroom flat with lounge, kitchen and bathroom | £4320 | Let on an Assured Shorthold Tenancy for 6 months from 1st January 2004. Rent £360 p.c.m |
Tenure
Freehold
Joint Agent
Local Authority
Milton Keynes Council
Viewing
Network Auctions - 020 7871 0420
Rent
Current rent £202,530 p.a
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Property Information
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