Summary
Unique retail/office investment opportunity
Location
The attractive market town of Leighton Buzzard is located in Central Bedfordshire, equidistant from Milton Keynes and Luton. This thriving and historic town, which is currently experiencing rapid residential and commercial expansion, benefits from a wide variety of specialist and national retailers, including, Waitrose, M&Co and Holland and Barrett. There is a sizeable industrial area to the south of the town, and construction of a new retail park is underway, to include Pets at Home, Wickes and M&S Food. There are excellent transport links with easy access to the A5, and now also to the M1 since the completion of J11A and the A5-M1 link last year. Leighton Buzzard Train Station is located on the West Coast Main Line, with services to London Euston (35 minutes), Milton Keynes (9 minutes) and Birmingham New Street (1 hour and 14 minutes).
Leck House is an attractive Grade II Listed building comprising two self contained ground floor retail units along with five self contained office suites to the rear and five residential flats that have been sold off on long ground leases.
The property has a private car park to the rear with 14 spaces plus bin area.
Tenancies
Leck House is let on effective full repairing and insuring lease terms with the cost for keeping the structure, exterior and common parts recharged to the various tenants.
Please download Tenancy Schedule.
Tenure
Freehold
VAT
We are advised that the property is elected for VAT purposes and that the sale can be treated as a transfer of going concern (TOGC).
Proposal
We are instructed to seek offers in the region of £XXX (EIGHT HUNDRED AND NINETY FIVE THOUSAND POUNDS), which reflects a net initial yield of 7.61% after allowance of purchasers costs of 5.63%.