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Lot 19

6 Week completion

SITUATION

Located in the Stratford Office Village amongst a variety of occupiers, just off Great Monks Street (V5) and being in this mixed commercial and residential area and only 1½ miles to Wolverton Rail Station. The open spaces of Ouse Valley Park are a short distance to the north.
Wolverton lies approx. 3 miles north-west of Milton Keynes and benefits from excellent road access via the A5 and M1 (Junction 14).

PROPERTY

Comprising 2 interconnecting Office Buildings arranged over ground and first floors with allocated parking for 14 Cars.

ACCOMMODATION

Ground Floor Offices
Area Approx. 2,585 sq ft
Plus Kitchen & WCs
First Floor Offices
Area Approx. 2,465 sq ft
Plus WC ________________

Total Area Approx. 5,050 sq ft

VAT is applicable to this Lot

TENURE

Leasehold - Held on 2 separate leases each for a term of 999 years (less 3 days) from 22nd November 2002 at a fixed ground rent of £10 p.a. (Total ground rent is £20 p.a.).

TENANCY

The entire property is let on a full repairing and insuring lease to DDRT Limited (operating as The Retail Ombudsman - see Tenant Profile) for a term from 9th September 2016 to 31st December 2030 (in occupation since January 2016) at a current rent of £60,000 per annum exclusive rising to £65,000 p.a. in 2021 and £70,000 p.a. in 2026.

TENANT PROFILE

In 2015, DDRT Ltd were given a long-term operating contract from The Retail Ombudsman to provide professional services which runs past the period of the lease. The Retail Ombudsman is authorised by Government to operate as an ‘ombudsman' and is an approved alternative dispute resolution provider in the retail, home services, non-regulated energy and aviation sectors
Visit: www.theretailombudsman.org.uk

PLANNING

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

Units 12 &14 Walker Avenue, Stratford Office Village, Wolverton Mill, Milton Keynes, Buckinghamshire MK12 5TW