32a,34 & 36 High Street Newport Pagnell MK16 8AQ
01908 611408 www.stimpsonseves.co.uk Chartered Surveyors
32a,34 & 36 High Street Newport Pagnell MK16 8AQ
Freehold Mixed-Use Investment FOR SALE at a Guide Price of £1.2m Current Rental Income £69,150pa
Location Newport Pagnell is a historic, thriving market town in the north east of Buckinghamshire, situated approximately 5 miles to the north of Central Milton Keynes. There is easy access to Junction 14 of the M1 motorway, 20 minutes drive from both Bedford and Northampton and within a 10 minute drive from the main railway station in Milton Keynes. Newport Pagnell has retained its rural market town character, whilst enjoying the benefits of being within easy reach of all the amenities that the New City of Milton Keynes has to offer. This makes it popular with resident and visitors, whilst the steady low retail vacancy rates make it an attractive location for retailers, with the High Street offering a wide selection of shops, pubs, restaurants, all benefitting from ample free parking.
Terms
Description
Freehold investment for sale at a guide price of £1.2m
01908 611408
This freehold investment is of a substantive mixed-use property, rarely available on the High Street. The building is situated in the centre of Newport Pagnell and comprises three tenanted ground floor retail units, the largest of which has a prominent double frontage, a basement and use of an external store to the rear.
Rates — Rateable Value 32a £8,600 34 £7,300 36 £15,000
Contact Kimberley Gould or Neil Moran
[email protected] [email protected]
The first and second floors comprise four self-contained, two-bedroom flats, all currently let on assured shorthold tenancies.
The rates payable may be affected by transitional arrangements. Interested parties should call the local Rating Authority for further advice.
91a High Street Newport Pagnell MK16 8EN www.stimpsonseves.co.uk
Tenancy Schedule Unit
Size
Term
Current Rent
Comments
Legal Costs Each party is to be responsible for their own legal costs.
32a
63.32 sq m / 681.6 sq ft ITZA – 38.19 sq m / 411.1 sq ft
5 years from 19/05/14 to Harriet Thompson
£11,500 p.a. (Personal concession)
Effective FRI lease. A1 use. Rent review at 19/11/16. Headline rent £13,500pa.
VAT All figures are quoted exclusive of VAT, purchasers must satisfy themselves as to the applicable VAT position, seeking appropriate professional advice
34
46.96 sq m / 505.5 sq ft ITZA – 24.92 sq m / 268.2 sq ft
7 years from 24/06/11 to Window Butchers Ltd
£8,750 p.a.
Effective FRI lease. A1 use.
36
110.45 sq m / 1,188.9 sq ft ITZA – 69.31 sq m / 746 sq ft
12 years from 13/06/12 to £16,500 p.a. The Hospice of Our Lady and St John
Effective FRI lease. Rent reviews at 13/06/16 (currently outstanding) and 13/06/20. A1 use.
Assured shorthold tenancies £32,400 p.a.
Flat 1: £700pcm; Flat 2: £725pcm; Flat 3: £625pcm; Flat 4: £650pcm
EPC 32a: 69-Band C 34: 122-Band E 36: 103-Band E
Flat 1: Flat 2: Flat 3: Flat 4:
63-Band D 64-Band D 53-Band E 31-Band F
Flats 1-4 2 bedrooms
TOTAL RENTAL INCOME £69,150 p.a.
32a,34 & 36 High Street Newport Pagnell MK16 8AQ
Freehold Mixed-Use Investment FOR SALE at a Guide Price of £1.2m Current Rental Income £69,150pa
Location Newport Pagnell is a historic, thriving market town in the north east of Buckinghamshire, situated approximately 5 miles to the north of Central Milton Keynes. There is easy access to Junction 14 of the M1 motorway, 20 minutes drive from both Bedford and Northampton and within a 10 minute drive from the main railway station in Milton Keynes. Newport Pagnell has retained its rural market town character, whilst enjoying the benefits of being within easy reach of all the amenities that the New City of Milton Keynes has to offer. This makes it popular with resident and visitors, whilst the steady low retail vacancy rates make it an attractive location for retailers, with the High Street offering a wide selection of shops, pubs, restaurants, all benefitting from ample free parking.
Terms
Description
Freehold investment for sale at a guide price of £1.2m
01908 611408
This freehold investment is of a substantive mixed-use property, rarely available on the High Street. The building is situated in the centre of Newport Pagnell and comprises three tenanted ground floor retail units, the largest of which has a prominent double frontage, a basement and use of an external store to the rear.
Rates — Rateable Value 32a £8,600 34 £7,300 36 £15,000
Contact Kimberley Gould or Neil Moran
[email protected] [email protected]
The first and second floors comprise four self-contained, two-bedroom flats, all currently let on assured shorthold tenancies.
The rates payable may be affected by transitional arrangements. Interested parties should call the local Rating Authority for further advice.
91a High Street Newport Pagnell MK16 8EN www.stimpsonseves.co.uk
Tenancy Schedule Unit
Size
Term
Current Rent
Comments
Legal Costs Each party is to be responsible for their own legal costs.
32a
63.32 sq m / 681.6 sq ft ITZA – 38.19 sq m / 411.1 sq ft
5 years from 19/05/14 to Harriet Thompson
£11,500 p.a. (Personal concession)
Effective FRI lease. A1 use. Rent review at 19/11/16. Headline rent £13,500pa.
VAT All figures are quoted exclusive of VAT, purchasers must satisfy themselves as to the applicable VAT position, seeking appropriate professional advice
34
46.96 sq m / 505.5 sq ft ITZA – 24.92 sq m / 268.2 sq ft
7 years from 24/06/11 to Window Butchers Ltd
£8,750 p.a.
Effective FRI lease. A1 use.
36
110.45 sq m / 1,188.9 sq ft ITZA – 69.31 sq m / 746 sq ft
12 years from 13/06/12 to £16,500 p.a. The Hospice of Our Lady and St John
Effective FRI lease. Rent reviews at 13/06/16 (currently outstanding) and 13/06/20. A1 use.
Assured shorthold tenancies £32,400 p.a.
Flat 1: £700pcm; Flat 2: £725pcm; Flat 3: £625pcm; Flat 4: £650pcm
EPC 32a: 69-Band C 34: 122-Band E 36: 103-Band E
Flat 1: Flat 2: Flat 3: Flat 4:
63-Band D 64-Band D 53-Band E 31-Band F
Flats 1-4 2 bedrooms
TOTAL RENTAL INCOME £69,150 p.a.
