Lot 73 – Cornwall Place Shopping Centre, High Street, Buckingham, MK18 1SB

Property Enquiries

Simon Bailey

simon.bailey@bidx1.com
+44 (0) 20 3929 8403

Viewing Registration / Enquiries

BidX1 Support Team

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

Vendor Solicitor

Cara Keen

cara-keen@birketts.co.uk
+44 (0) 1603 232 300
Description
Map
Viewings

Addendum
Unit 9 – Agreement in principle has been reached with the tenant for a new 10 year lease without break at a rent of £13,600pa, subject to 3 yearly rent reviews. A summary of the terms is available within the legal pack
Property Summary
  • Attractive Buckinghamshire town
  • Asset management opportunities
  • Tenants include TUI UK Ltd
  • Adjacent to Waitrose and public car park
  • Current rent £268,064 per annum
  • Six week completion available
  • On the Instructions of a UK Fund
Tenure

Freehold

Location

Buckingham lies about 30 miles north east of Oxford and 21 miles south of Northampton and a has a population of just over 12,000. It can be accessed via the A422, A43, A5 and A421, which in turn provide access to the M40 and M1 motorways. Rail services are via Milton Keynes Central, which lies about 12 miles to the east.

High Street forms part of the A422 in the town centre, with the property lying on the south side of the road near its junction with Cornwalls Meadow. The property lies adjacent to the main town centre car park (Cornwalls Meadow Car Park) and Waitrose Supermarket with other nearby occupiers including Vision Express, Lloyds Pharmacy, Boots, Tesco Express, M&Co and Barclays.

Description

The property provides a pedestrianised town centre shopping precinct with dual access from High Street to the front and Cornwalls Meadow Car Park to the rear. It is arranged as a number of single and two storey buildings of traditional construction providing a mix of retail, restaurant and medical units. The precinct benefits from a strong footfall being one of the main pedestrian thoroughfares linking the main town centre car park and the town centre. There is a small yard area to the side that includes some on-site car parking.

Tenancy

Please refer to legal documents

Planning

Aylesbury Vale District Council (01296 585858) www.aylesburyvaledc.gov.uk

VAT
Please refer to Legal Documents
Property Table

Accommodation & Tenancies

 

Unit

Accommodation

Tenant

Tenancy

Commencement Date

Rent (PA)

1a & 1b

Medical 123.93 sq m (1,344 sq ft)

Selvaraj Balaji t/a The Gallery Dental

Lease expires 14/02/2026 (1)

20/03/2008

£16,700

1

Retail 34.84 sq m (375 sq ft)

Sandrasegarampillai Senthilrajan t/a Sabits Off-License

Lease expires 18/09/2033 (2)

19/09/2008

£16,000

2

Retail 27.87 sq m (300 sq ft)

Vape Direct Ltd

Lease expires 29/06/2022 (3)

30/06/2017

£10,500

3

Retail 102.28 sq m (1,101 sq ft)

Suleyman Ata & Nicola Ata t/a black Pepper Turkish Cuisine

Lease expires 30/03/2023

31/03/2008

£20,180

4

Retail 82.77 sq m (891 sq ft)

MVD Ltd

Lease expires 18/06/2028

19/06/2018

£19,500 (4)

5

Retail 54.53 sq m (587 sq ft)

VACANT

Under offer on a new 5 year lease (3 year break) at £12,900pa with 3 month's rent free (refer to legal pack)

 

 

6

Retail 54.72 sq m (589 sq ft)

Rachel at Panache Ltd t/a Panache Barbers

Lease expires 21/12/2022

22/12/2017

£11,750

7

Retail 67.35 sq m (725 sq ft)

Shlusar Wellness Ltd t/a Megasun Wellness

Lease expires 27/04/2022

28/04/2016

£12,750 (5)

8

Retail 52.49 sq m (565 sq ft)

Curious Minds Vintage Ltd t/a Curious Minds Clothing

Lease expires 23/11/2022 (6)

16/09/2013

£10,000

9

Retail 57.04 sq m (614 sq ft)

Gyre & Gimble Ltd

Lease expires 01/06/2020

02/06/2017

£13,600

 

10

Retail 68.00 sq m (732 sq ft)

Detach Ltd t/a Willow Spring Dry Cleaning

Lease expires 23/06/2020

24/06/2010

£14,500

11

Retail 81.75 sq m (880 sq ft)

TUI UK Ltd

Lease expired 06/05/2018

07/05/1993

£19,500

11a

Retail 169.08 sq m (1,820 sq ft)

Wing Kwong Lui & Jade Jsze Chuah t/a Jia Jia Le

Lease expires 16/03/2031

18/03/1991 (7)

£23,000

12

Retail 75.43 sq m (812 sq ft)

Louise Jane Riley t/a Sweet Autumn

Lease expires 18/12/2024 (8)

19/12/2014

£16,000

12a

Retail 88.53 sq m (953 sq ft)

VACANT

 

 

 

13

Retail 104.14 sq m (1,121 sq ft)

Hair Host LLP

Lease expires 30/06/2025 (9)

01/07/2015

£19,484

14

Retail 70.32 sq m (757 sq ft)

Back to Nature (Buckingham) Ltd t/a Back to Nature Healthfood Shop

Lease expires 20/10/2021

11/04/1990 (10)

£12,100

15

Retail 102.36 sq m (1,102 sq ft)

Vibin's Kitchen Ltd t/a Vibin's Cafe Bar & Restaurant

Lease expires 09/03/2028

10/03/2008

£19,500 (11)

16

Retail 42.36 sq m (456 sq ft)

Dandy Lions Child Boutique

Lease expires 30/09/2019

05/08/2011 (12)

£13,000

TOTAL

 

 

 

 

£268,064

(1) There is a tenant's break clause on 14/02/2021 & a rent review on 15/02/2021
(2) There is a rent review & tenant's break clause on 19/09/2023
(3) There is a tenant’s break clause on 29/06/2020 & a rent review on 30/06/2020
(4) The rent is currently £16,250pa until 18/06/2022, which will be topped up by the vendor & there is a rent review on 19/06/2023
(5) There is a rent review on 28/04/2019
(6) There is a tenant's break clause on 23/11/2021
(7) Lease renewal on 14/05/2014 & rent review on 17/03/2021 & 17/03/2026
(8) There is a tenant's break clause & a rent review on 19/12/2019
(9) There is a rent review on 01/07/2020 & annually until expiry. There is a tenant's break clause on 30/06/2020
(10) Lease renewal on 21/10/2016
(11) The rent is currently £16,500pa until 09/03/2022, which will be topped up by the vendor & there is a rent review on 10/03/2023
(12) Lease renewal on 24/11/2016

EPC

Refer to the legal documentation


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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.
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