Dunstable Street, Ampthill, Central Bedfordshire
Size
1,539
Tenure
Freehold
EPC
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Parking
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- Primary use
- High street retail
- Frontage
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No floor / site plan
Key features
- Freehold retail & residential investment
- Double fronted retail unit with self contained residential upper parts
- Let to Indigo Residential Ltd until 26th September 2032
- Current income of £30,000 per annum
- Rent review as at 27th September 2027 to the higher of OMRV or indexed uplifts
- Valuable reversion in 2027 to minimum of £35,109 per annum
- Potential to take back upper parts in 2032
- Offers in the region of £495,0000
- Initial yield of 5.79% and a reversionary yield of 6.70%
Description
architecture and wealth of both national and independent retailers. The town has a resident population in the order of 8,822 and is located approximately 7 miles (11.26 km) south of Bedford and 10 miles (16.09 km) east of Milton Keynes. The town adjoins the A507 which links the town with the M1 Motorway (J13) and the A1(M) (J10).
The property comprises a two storey double fronted retail unit constructed of brick under a pitched slate roof. The first floor comprises a two-bedroom self- contained flat having the benefit of a separate access from Dunstable Road via the gate to the side of the property which leads to an attractive courtyard and the single-storey storage building to the rear of the property.
The property is located in a conservation area and is listed Grade II.
The entire property is let to Indigo Residential Ltd under the terms of a full repairing & insuring lease dated 8th February 2023 demising the property for a term of 10 years from 27th September 2022 at a current rent of £30,000 per annum. The landlord holds a rent deposit of £7,300.
The lease excludes the security of tenure provisions of the Landlord & Tenant
Act 1954 (as amended).
The residential upper parts are sub-let to a private individual under an Assured Shorthold Tenancy. There is a rent review as at 27th September 2027 to the higher of open market rental value or the increase in the Consumer Price Index, subject to a cap of 4% per annum and a collar of 2% per annum. The minimum uplift on rent review will be £35,109 per annum. Further details on request.
Indigo Residential Ltd is a long established chain of residential estate agents operating in the
Bedfordshire area. Further details on request.
There is the potential to restructure the lease on expiry in 2032 and take back possession of the residential upper parts.
We are instructed to seek offers in the region of £495,000 to show a purchaser a net initial
yield of 5.79% and a minimum reversionary yield of 6.70% after allowing for purchasers
costs of acquisition.
- Service charge
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- Business rates
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- Use class
- E
- Listed building
- Yes
- Floors in building
- 2
- Business for sale
- No
An Energy Performance certificate helps you understand the current energy efficiency of a property.
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- BREEAM rating
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- Environmental description
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Brochure
Dunstable Street, Ampthill, Central Bedfordshire
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Disclaimer - Property reference Ampthill. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Jessop & Co, Luton. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.