18-32 Midland Road

Description

Investment Summary
• Bedford is an affluent historic market town located approximately 50 miles (80km) north of London.
• Universal Studios has acquired c.500 acres of land three miles south of Bedford for a new theme park, set to attract 8.5 million visitors annually.
• The average household income in Bedford rose by 11.5% year-on-year in 2024 (ONS).
• Bedford has secured £22.6 million through the government’s Towns Fund, with a significant share directed towards the regeneration of Midland Road.
• The property benefits from dual frontage, occupying a prominent position on Midland Road, and into the mall within The Harpur Centre.
• The property is fully let to New Look Retailers Limited until July 2029.
• Total base rent of £80,000 per annum.
• The turnover rent between July 2024 to June 2025 generated a net operating income of £138,585.69.
• Freehold.

We are instructed to seek offers in excess of £755,000 (Seven Hundred and Fifty Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level based on the base rent reflects a net initial yield of 10.05% and a low capital value of £30 psf, assuming standard purchaser’s costs.

Adopting the July 24 - June 25 turnover figures, a purchase at quoting terms would reflect a running yield of 17.41% assuming standard purchasers’ costs.