Available
Flitwick – Medivet Veterinary Practice
47 The Ridgeway, Flitwick, Bedfordshire MK45 1DJFreehold Veterinary Practice Investment
Price
£425,000
Rent P.A.
£28,500
Yield
6.71%
Tenure
Freehold
Lease Term
10 Years
Years Left on Lease
10y 2m
Area
2,333 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Tenant in occupation since 2010. Property has been newly refurbished to a high standard
- Comprises single storey building operating as a veterinary practice on a plot of 0.10 acres
- Future residential development potential, subject to obtaining the necessary consents
- Property benefits from 2 car parking spaces at front
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises single storey detached building operating as a veterinary practice. The property benefits from 2 parking spaces at front and provides the following accommodation and dimensions:
Ground Floor: 216.70 sq m (2,333 sq ft)
Reception, Treatment Rooms, Staff Rooms, Kitchenette, Shower, WCs
Ground Floor: 216.70 sq m (2,333 sq ft)
Reception, Treatment Rooms, Staff Rooms, Kitchenette, Shower, WCs
Tenancy Description
The property is at present let to Medivet Group Ltd* for a term of 10 years from 11th May 2025 at a current rent of £28,500 per annum and the lease contains full repairing and insuring covenants. Rent review in May 2030 open market upward only. Tenant option to determine in May 2030 with min 6 months notice. Lease renewal. Tenant in occupation since 2010 and currently paying £25,000 p.a. until 11th May 2025. Vendor will top-up rent so the buyer receives the equivalent to £28,500 p.a. from completion.
*Medivet was founded in 1987 and now operates over 350 branches across the UK. In 2021 CVC Capital Partners acquired Medivet for in excess of £1bn. (www.medivet.co.uk).
*Medivet was founded in 1987 and now operates over 350 branches across the UK. In 2021 CVC Capital Partners acquired Medivet for in excess of £1bn. (www.medivet.co.uk).
Tenancies & Accommodation
Location Description
Flitwick is a town and civil parish in Bedfordshire, situated in close proximity to the M1, providing easy access to London and to the north. The property is situated on the north side of The Ridgeway at its junction with Catherine Road, within 0.7 miles from Flitwick Station. Occupiers close by include a wide range of local business in a predominantly residential area.
