Great Denham | Bedford | Mk40 4Gp

ROMAN GATE LOCAL CENTRE | GREAT DENHAM | BEDFORD | MK40 4GP

Freehold Local Centre Retail Investment

Punch Retail & Leisure Investment | 01908 311517 | www.punch.org.uk | e: [email protected]

INVESTMENT CONSIDERATIONS ……………………………………………………….……………………..

▪ Well established local centre parade of five retail units comprising 5,590 sq ft

▪ Fully let to a blend of regional/local tenants

▪ Rental income £112,664 per annum

▪ Large freehold plot approx 0.35 acres with tenant parking spaces service yard to rear

▪ Units share 50 space customer car park with Sainsbury Local anchor unit

▪ Development set within fast growing expansion area of West Bedford/Kempston

▪ Serving core area catchment population in Great Denham parish of 3,500 (2016 : 3,056 https://www.citypopulation.de/php/ uk-parishes-eastofengland.php? LOCATION adm2id=E04011892) …………………………………………………………………………………………………………………………………………..……………………….. ▪ Modest rents of approx £20 per sq ft and . Great Denham is a substantial population centre situated on the western fringe of Bedford within most recent letting at £21 per sq ft the affluent Kempston Ward with a population of 3,500 on the outer ring road around Bedford ▪ We are instructed to seek offers in the linking the A421 dual carriageway to the south with Biddenham and Brompton and the A428 to region of £1,315,000 (One Million Three the north. There are excellent road communications with easy access to the M1 junction 14 to the west as well as links to the A6 and further east via the A421 to the A1. Hundred and Fifteen Thousand pounds) for the freehold interest subject to contract Bedford is an attractive market town on the fringe of the south east and the population of the and exclusive of VAT for our client’s wider Bedford conurbation is 139,000. Rail to central London via East Coast main line is just 30 freehold interest minutes non-stop. Great Denham is continuing to grow with considerable ongoing residential de-

velopment. As an example of this the land directly opposite the property is currently being developed by David Wilson Homes for 202 new homes

See https://www.dwh.co.uk/new-homes/bedfordshire/H699701-Ripley-View-at-Great-Denham/#

Punch Retail & Leisure Investment| 01908 311517 | w ww.punch.org.uk | e: [email protected]

SITUATION …………………………………………………………………………………….………… Roman Gate Local Centre is situated at the heart of a residential expansion of 2,760 new homes developed over the past 10 years just to the west Bedford. The property sits just off the Braunston Way western bypass which links the A421 dual carriageway with Biddenham to the north. See https://www.bedford.gov.uk/ environment_and_planning/planning_town_and_country/ major_planning_applications/great_denham.aspx It is of note that the area shown undeveloped on the OS extract opposite at Q4 2018 with 202 units and the build programme is well advanced

DESCRIPTION ………………………………………………………………………………………..……….

The property comprises of six retail units totalling 5,589 sq ft (519.3 sq m) let to a blend of regional/local tenants. Completed in July 2017 Roman Gate Local Centre is a purpose built local centre with tenant parking in a large secure rear service area and benefits from use of the main 50 space shopper car park shared with Sainsbury Local.

TENURE ……………………………………………………………………………………………….

The property is held freehold. The approximate extent of the Title is shaded red on the OS plan opposite.

Punch Retail & Leisure Investment | 01908 311517 | www.punch.org.uk | e: [email protected] LAYOUT PLAN

Punch Retail & Leisure Investment | 01908 311517 | www.punch.org.uk | e: [email protected]

COVENANT INFORMATION

The property is let to a mixture of both national and local retail covenants as detailed in the above schedule of areas and tenancies. SERVICE CHARGE

Roman Gate local centre is subject to a service charge currently running at approximately £1.00 per sq ft.

VAT The property has been elected for VAT.

SCHEDULE OF AREAS AND TENANCIES

PROPOSAL ……………………………………………………………………….………………..……………. We are instructed to seek offers in the region of £1,315,000 (One Million Three Hundred and Fifteen Thousand Pounds) subject to contract and exclusive of VAT for our client’s freehold interest

Based on current net income of £112,664 per annum a purchase at this price would show an investor a net initial yield of 8.02% assuming purchaser’s costs of 6.8%.

SUBJECT TO CONTRACT

FURTHER INFORMATION ……………………………………………………………………….………….…………………. Punch Retail & Leisure

Patrick Punch | 07798 827826 | [email protected]

Helen Cottrell | 01908 311517| [email protected]

Important Notice

Punch Retail & Leisure their clients and any joint agents give notice that: 1 They are not authorised to make or give any representation or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representation of fact. 2 Any areas, measurements or distances are approximate only. The text photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Punch Retail & Leisure have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Punch Retail & Leisure Investment | 01908 311517 | www.punch.org.uk | e: [email protected]