Acquired
Woburn Sands – Dry Cleaners & Office Space
43/45 High Street, Woburn Sands, Milton Keynes MK17 8RBFreehold Shop & Office Investment
Tenure
Freehold
Lease Term
10 Years
Years Left on Lease
3y 11m
Area
1,317 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Well located in popular and prosperous town centre
- Commercial unit let to Jeeves of Woburn on a lease expiring in 2028 (No Breaks).
- Occupiers close by include Co-operative Food, Barclays, Age UK, The Post Office and a pharmacy, amongst other local shops and restaurants.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property is arranged on basement, lower ground, ground and one upper floor to provide a shop presently trading as a dry cleaners, whilst the first floor comprises residential accommodation. Part of the shop has been subdivided to provide an additional self-contained shop unit with ancillary first floor accommodation, which currently trades as a florist and has been sublet. The property benefits from additional access from Club Lane.
The property provides the following accommodation and dimensions:
Shop Frontage: 29’8” ft on High Street
Lower Ground Floor: 450 sq ft
Basement: 245 sq ft
Ground Floor 294 sq ft
First Floor 328 sq ft
Total: 1,317 sq ft
The property provides the following accommodation and dimensions:
Shop Frontage: 29’8” ft on High Street
Lower Ground Floor: 450 sq ft
Basement: 245 sq ft
Ground Floor 294 sq ft
First Floor 328 sq ft
Total: 1,317 sq ft
Tenancy Description
The shop is at present let to Mrs N. Nathwani t/a Jeeves of Woburn for a term of 10 years from 11th December 2018 (No Breaks) at a current rent of £18,500 per annum. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants. A rent deposit of £4,625 is held. Part of the property has been sublet.
Tenancies & Accommodation
Location Description
Woburn Sands is a prosperous village, which straddles the border between Bedfordshire and Buckinghamshire and is situated some 3 miles south-east of Milton Keynes centre. The village enjoys excellent communications, with the M1 at Junction 13 within 2 miles and the national rail network is available at Milton Keynes. Woburn Safari Park, Abbey and Championship golf course are 2 miles to the south. The property is located on the east side of the High Street (A5130), close to its junction with Club Lane.
