LOT 21

Land at Finmere Mill, Tingewick, Buckinghamshire, MK18 4JA

FREEHOLD COMMERCIAL INVESTMENT

Result: Sold for £86,000 Guide price: £70,000 plus*

Auction Date

Thursday, 20th February 2020 12:00pm

By Order Of LPA Receivers

Tingewick is reached via the A421 off Junction 13 of the M1 and is just a few miles west of Milton Keynes. The property is in a rural location and is reached from the west bound carriageway of the A421 close to Finmere Aerodome and accessed from a shared vehicular roadway alongside B1/industrial units.

EQUIVALENT TO £10,640.82 p.a.

Site Area:

5,000 sq ft (464.6 sq m) A rectangular site with four large fuel tanks and associated plant.
Offered subject to any tenancies & third party interests including the lease to Ford Fuels Limited for 10 years from 21.10.2013 at £10,640.802 p.a. The lease (see legal pack) states it is outside of the provisions of the Landlord & Tenant Act 1954 (no documents to evidence this) although the tenant has an option to renew. The landlord can refuse to grant a renewal lease in limited circumstances.

There are fuel tanks on the premises and the Seller is unable to confirm whether the fuel tanks belong to the occupational tenant or are a landlord fixture. There are no letting documents available that confirm ownership.

Status

Sold for £86,000

Addendum

VAT is payable but this can be treated as a transfer of a going concern.

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.