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Shakespeare Road, Bedford, Bedfordshire MK40

For sale
  • Long Term Investment Opportunity Benefitting from 3 Yearly RPI Rent Reviews.
  • Located in a leafy residential street within an 8 minute walk (0.4 miles) of Bedford Train Station (Thameslink) and the town centre.
  • 3/4 star boutique hotel on a Freehold site of 0.30 acres.
  • First time on the market since 2012.
  • Highly attractive Edwardian property totalling 8,808 sq ft (NIA) approximately of accommodation, benefiting from;
    • 23 en-suite guest bedrooms.
    • Events room.
    • Bar.
    • Restaurant.
    • Garden.
    • Parking.
  • The property is maintained to a very high standard by the tenant.
  • A Full Repairing and Insuring lease for a term of 15 years from 6 February 2017 expiring on 5 February 2032 (10.7 years unexpired, no breaks).
  • 2 guarantors to the lease.
  • The current passing rent is £95,500 per annum.
  • The lease benefits from 3 yearly rent reviews based on the Retail Price Index (RPI).
  • Exemplary rent payment history with no arrears.
  • The property is not elected for VAT.
  • We are instructed to seek offers in excess of £1,250,000 (One million, two hundred and fifty thousand pounds), subject to contract.
  • A purchase at this price would equate to;
    • 7.2% Net Initial Yield.
    • £142 per sq ft Capital Value.
    • £54,350 per key.
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