Lot

17

1 Station Road and 129 High Street, Newport Pagnall, MK16 0AG

Bidding Closed

SOLD FOR

£646,000

Property Enquiries

Jeremy Lamb

jeremy.lamb@bidx1.com
+44 (0) 20 7703 4401

Viewings/Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Description

Map

Viewings


Property Summary
  • BY ORDER OF THE LPA RECEIVERS
  • Substantial freehold site
  • Part vacant possession 
  • Development potential (subject to consents)
Tenure

Freehold

Location

Newport Pagnell is a popular commuter town on the outskirts of Milton Keynes and benefits from excellent commuter links via the M1. The property is situated between Caldecote Street and High Street servicing a large residential catchment area. Public transport includes Milton Keynes Central railway station with regular direct trains to London Euston railway station with a journey time of approximately 34 minutes. Shopping amenities are at High Street. Recreation facilities can be found at Bury Fields.

Tenancy

Please refer to legal documents

Rental Information

£33,000 per annum with vacant possession of the entire first floor and rear car park

Planning

It is considered that the upper floor of 1 Station Road may be suitable under permitted development rights for change of use to residential unit(s). There is also potential to extend to the rear of number 1, and possibly above number 129 High Street. With vacant possession of the rear car park there is further potential for a new build scheme, all subject to consents. Interested parties must rely on their own enquires in this regard to Milton Keynes Council planning department. Telephone 01908 691691

VAT
Please refer to the legal documents.
Property Table
UnitAccommodationTenancyRent
1b (First floor)Reception, three office rooms, internal storage, staff toilets. Net internal area approx 72.69 sq. m (782 sq . ft)VacantVacant
1 (Ground floor. Use class A1)Retail area, staff/wc. Net internal area approx 77.9 sq.m (839 sq. ft)Let to Subway Realty Limitied (sub-franchise in occupation) on a 15 year lease from 27/06/2014 with upward only rent reviews every 5 years (next review due June 2019)£20,000 per annum
129 High Street-Use class A5Retail area, kitchen, staff toilets. Net internal area approx 42.7 sq. m (459 sq. ft)Let to an individual t/a Sunats Kebab House on a 15 yer lease from 08/04/2014 with reviews every 5 years (2019 April review is outstanding)£13,000 per annum

Note: Areas provided are from the Valuation Office Agency - GOV.UK. Interested parties must rely on their own enquiries in this regard.

*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted "subject to contract". Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. A minimum participation fee of £4,500 must be paid by all bidders who wish to partake in the auction. A participation fee of £4,500 is comprised of the £1,000 (inclusive of VAT) administration fee payable directly to BidX1 and £3,500 relating to your bidder security (partial deposit payment). A higher participation fee may be payable depending on the reserve price of the Lot. However, even in those circumstances, the administration fee shall remain at £1,000 (inclusive of VAT). The participation fee is fully refundable if you do not make the successful bid in relation to a Lot at auction. If you make a successful bid in relation to a Lot at auction your participation fee is non-refundable.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.







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