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53-57, Aylesbury Street, Fenny Stratford
MK2 2BQ
Guide Price
Block of Flats
0
0
0
SOLD
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SOLD SUCCESSFULLY BY AUCTION HOUSE BEDS & BUCKS
An opportunity to purchase an extremely well-presented Mixed Use development offering part residential with four refurbished apartments to the first floor and part commercial with five units to the ground floor. The property is centrally located in Fenny Stratford with a prominent high street position, fully let, generating a gross income of £105,600 per annum. The property also presents parking to the rear which is shared between the residential and commercial units with the remaining spaces let to a parking company on a lease where the profits are shared at 50% each. This opportunity offers an 8% yield with guaranteed income for at least 2 years.
Each of the four apartments is fully let on assured shorthold tenancies generating £52,800 per annum.
Each Commercial unit is fully let on a minimum 5-year term generating £53,100 p.a.
There are four newly renovated apartments presented in good order, each apartment has communal access to the front of the building with a secure entry phone system. The ground-floor lobby presents access to the car park and has stairs rising to the first-floor landing where doors lead to each apartment. The apartments comprise entrance hall, an open plan kitchen/lounge/diner with two bedrooms and a bathroom. Each flat has a balcony to the front elevation and has been finished to a good standard with off-road parking for one vehicle to the rear car park.
Five fully-let commercial units have high street window displays and pedestrian access. Each unit has two allocated parking spaces and vehicular access to the rear through the car park.
Each Unit Measures:
53a: 436 sq ft ITZA
53b: 439 sq ft ITZA
53c: 417 sq ft ITZA
57a: 439 sq ft ITZA
57b: 407 sq ft ITZA
At the rear, there is vehicular access to a 24-space car park which comprises allocated parking for the tenants and pay and display parking for visitors. The parking is controlled by Napier Parking Ltd on a 24-month lease commencing 14th June 2022, the profits are divided between the leasee and the freeholder 50/50 and currently generates roughly £30 pcm.
The property can be located on Aylesbury Street with vehicular access from George Street. Fenny Stratford is a quiet suburb of Milton Keynes partnering Bletchley and Denbigh North. Bletchley train station is a 5 minute walk providing fantastic commuter links to Birmingham and London.
*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide. Additional Fees and Disbursements will charged to the buyer - see individual property details and Special Conditions of Sale for actual figures.
The purchaser will be required to pay a buyers premium charge of £6,000 (£5,000 plus VAT)
The purchaser will be required to pay an administration charge of £900 (£750 plus VAT).
