Investment For Sale, Milton Keynes
Summary
- Freehold retail investment for sale.
- Prominent position in thriving town centre.
- Fully let ground floor on a full repairing and insuring leases
- Rental income of £33,250 pa exclusive.
- ERV £45,750 pa once fully let
- Redevelopment opportunity (STPP)
Location
Newport Pagnell is a historic market located in the north-eastern fringe of Milton Keynes, approximately 4 miles north-east of Central Milton Keynes. The Town benefits from excellent road connectivity, positioned adjacent to J14 of the M1 Motorway and both the A422 and Wolverton road, which in turn provides direct routes to the surrounding suburbs and wider geographical circumference of Milton Keynes.
59-61 Union Street High Street occupies a prominent towncentre position adjacent with the Highstreet, the immediate vicinity is predominantly categorised by a wide range of local amenities including boutique retailers, restaurants, and everyday conveniences.
Get directions from Google Maps
Further Information
Price £400,000
Rent £4.74 - £8.29 per sq ft £8,000 - £14,000 per annum exclusive
Rates Payable Upon Enquiry
Description
The property forms part of a historic terrace built of traditional brick construction, decorated externally, with clay plain tile roof with ridge chimneys. Internally, the property is configured to provide 3 retail units at ground floor level with office accommodation to the upper parts.
The Tenant of 61, Sevy Styles, are currently renewing their lease for a further 5 years with a break clause in the 3rd anniversary. The unit is fully self contained and is fitted as a hair salon in the tenant’s bespoke in-house style.
Unit 59 has a new 5 year lease as a ladies hairdresser, with a break clause, and is fully self-contained with a small yard at the rear.
Unit 61a is not self-contained but has the benefit to use the staff welfare facilities of the upper floor and is let as a gentleman’s barbers on a 5 year lease with a break clause.
The office accommodation comprises 3 main suites and is fitted to a good specification including carpeted timber flooring, electric heating, fluorescent strip lighting and perimeter wall mounted sockets.
Tenancy details available upon request.
Downloads
Gallery
