FREEHOLD COMMERCIAL INVESTMENT
Guide price: £725,000 - £750,000
Location & Description
A substantial two storey property comprising a large ground floor shop plus first floor ancillary accommodation and rear car park.
Occupying a prominent position within this busy local shopping centre which serves the surrounding residential area. Nearby multiple retailers include The Co-operative Food, Premier, Greggs, Iceland, William Hill, NatWest, Coral, Barclays and others.
Leagrave mainline station is within about ½ mile. Luton town centre is about 3 miles away and has good road links via the M1.
ACCOMMODATION (Based on VOA website)
Ground Floor: 3,032 sq ft (281.7 sq m)
First Floor Ancillary: 1,920 sq ft (178.4 sq m) plus staff WCs
The entire property is let on a repairing and insuring lease to Optimisation Investments Ltd (who are a subsidiary of WM Morrison Supermarkets Plc) for 15 years from 03.03.2014 at £42,000 p.a. Rent reviews 2019 & 2024. Tenant's break 2024 on 6 months notice.
The property is currently underlet to Sue Ryder.
The holding company, WM Morrison Supermarkets Plc, for year ending 31.01.2016 reported a turnover of £16.12bn and a net worth of £3.76bn.
EQUIVALENT TO £42,000 p.a.
- Entirely Let to a Subsidiary of WM Morrison Supermarkets Plc
- Equivalent £42,000 p.a.
- Underlet to Sue Ryder
- Potential for Future Development (subject to consent)
Sold for £748,000.
Notwithstanding a clause in the special conditions the property is offered subject to the tenancies described in the tenancy schedule and the contract copies are amended