Brereton Road, Bedford

** SOLD SUCCESSFULLY BY AUCTION HOUSE BEDS & BUCKS **
**Exceptional Investment Opportunity: Mixed-Use Development**
This opportunity comprises two properties: 1 Brereton Road and 2 Priory Street, together forming a partially developed site with a total floor area of approximately 7,000 sq ft.
1 Brereton Road features two ground-floor commercial units. The first unit is leased to 'Al Malina' on a three-year agreement, generating an annual rental income of £24,000, while the second unit is currently vacant with a potential rental income of £17,000 per annum. On the upper floors, there is access to three partially refurbished one and two-bedroom apartments, which have a projected combined rental income of £34,740 per annum.
2 Priory Street is a two-storey vacant building measuring approximately 3,317 sq ft and requires full renovation. Planning permission has been secured for the development of four apartments.
Upon completion, the estimated rental income from the entire project is an impressive £123,042 per annum, making this a rare and lucrative investment opportunity in a mixed-use property with significant income potential.

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Accomodation -

Al Malina Store -

Shop - 9.55m x 8.84m + 3.89m x 3.20m (31'04 x 29'00 + 12' - Al Malina is a grocery/butchers let on a 3-year term for £24,000 per annum. There is a rent review and break clause on the 3rd and 7th year. The shop comes with front access and a pedestrian door to the rear courtyard.

Store Room - 7.09m x 4.09m (23'3 x 13'5) - With a door to the rear courtyard and access to a potential WC.

Vacant Commercial Unit - 6.45m x 3.73m (21'02 x 12'03) - With a shutter to the front and storage to the rear, there is pedestrian access to the rear courtyard. This vacant unit measures approximately 884 sq ft and would let for a figure in the region of £17,500 p.a.

Hall - 3.10m x 1.80m (10'02 x 5'11) -

Rear Room - 5.89m x 2.84m (19'04 x 9'04) - A door to the side leading to the courtyard.

Rear Room 2 - 4.52m x 3.20m (14'10 x 10'06) - A window to the rear

Under Stair Store - 1.96m x 1.88m (6'05 x 6'02) -

Residential Apartments 1 - 3 -

Entrance Hall - 7.75m x 1.93m (25'5 x 6'04) - Secure entry phone system to the street with stairs rising to the first floor.

Landing - 3.61m x 1.85m (11'10 x 6'01) -

Flat 1 - Measuring to approximately 566 sq ft this flat would rent for approximately £1,000 p.c.m generating £12,000 per annum.

Kitchen/Lounge - 4.09m x 3.53m (13'05 x 11'07) - Window to the side.

Bedroom One - 6.20m x 3.61m (20'04 x 11'10) -

Bedroom Two - 3.48m x 3.28m (11'05 x 10'09) - Window to the rear

Bathroom - 2.46m x 1.68m (8'01 x 5'06) - A window to the rear

Flat 2 - Measuring to approximately 580 sq ft this flat would rent for approximately £1,000 p.c.m generating £12,000 per annum.

Entrance Hall - 3.25m x 1.04m (10'08 x 3'05) -

Lounge - 4.88m x 2.59m (16'00 x 8'06) -

Kitchen - 3.61m x 2.39m (11'10 x 7'10) - Window to the front elevation.

Bedroom One - 4.55m x 2.41m (14'11 x 7'11) -

Bedroom Two - 3.63m x 3.48m (11'11 x 11'05) -

Bathroom - 2.36m x 1.32m (7'09 x 4'04) -

Flat 3 - Extending to approximately 428 sq ft the flat would rent in the region of £895 p.c.m generating £10,740 per annum.

Kitchen/Lounge/Diner - 4.93m x 398.07m (16'02 x 1306) -

Bedroom - 4.04m x 3.61m + 1.50m x 1.93m (13'03 x 11'10 + 4'1 -

Ensuite Bathroom - 2.01m x 1.40m (6'07 x 4'07) -

2 Priory Street - A two-storey building extending to approximately 3,317 sq. ft. with full planning to develop four further one and two-bedroom apartments. Estimated renovation costs in the region of £563,890 (£170 per sq. ft.)

Ground Floor - 7.52m x 5.59m + 14.45m x 5.59m (24'08 x 18'04 + 47 - Please refer to the legal pack for planning consent and proposed plans.

First Floor - 14.45m x 7.44m + 12.78m x 3.66m (47'05 x 24'05 + 4 -

Outside - There is off-road parking to the front of Brereton Road and vehicular access to the courtyard from Priory Street.

Courtyard - The courtyard services all parts of each of the buildings including delivery for the commercial units.

Price Information - *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.

Services - Services can not be confirmed, inspection is advised.

Buyers Admin Charge - The purchaser will be required to pay an administration charge of £1,140 (£950 plus VAT).

Buyers Premium Charge - The purchaser will be required to pay an administration charge of £4,800 (£4000 PLUS VAT)

Planning References - REF: 20/00715/S73
Remodelling and refurbishment of building and part change of use to form 2 office units (B1(a)) and 7 residential units (C3) including variation of condition 2 (approved plans) attached to 19/02127/FUL to allow for increase floor area of first floor flats onto ground floor roof area including amendments to internal layout of flats 1, 3 and 5. Addition of 5 rooflights and amendments to window sizes and external finishes.

PLANNING TO CHANGE COMMERICAL UNITS FROM OFFICES TO SHOPS: 23/01275/COU