Summary - 15-17, MILL STREET MK40 3EU
1 bed 1 bath Commercial Property
Large town-centre retail units offering immediate income and redevelopment potential.
- Combined rental income £50,735 per annum exclusive
- Freehold interest with additional ground rent £3,405 pa
- Ground rent linked to RPI; review increases every ten years
- Tenant lease expires November 2030 — renewal risk
- Large overall size 4,198 sq ft; prominent Mill Street frontage
- Good footfall; close to Bedford station and many amenities
- Recently redeveloped; modern ground-floor retail finishes
- No flood risk; very low local crime statistics
An income-producing freehold in Bedford town centre, this substantial mixed-use building offers three ground-floor retail units generating a combined rent of £50,735 per year, plus an additional ground rent of £3,405 pa. The units have large glazed shopfronts, good natural light and strong pedestrian exposure on Mill Street, close to Bedford train station and a wide range of local amenities.
The long tenant lease runs until November 2030, providing immediate rental income for an investor seeking a short-to-medium term secure return. The ground rents are payable by long leaseholders and are index-linked to RPI with increases every ten years — a valuable income stream but one that may rebase upwards over time.
At 4,198 sq ft overall, the building is comparatively large for a city centre investment and was recently part of a wider redevelopment, so the accommodation is modern in finish. There is potential for alternative uses or future redevelopment subject to consents, making this suitable for investors targeting growth or eventual conversion.
Important considerations: the tenant lease expiry in 2030 creates near-term lease renewal or re-letting risk. The ground rent level is relatively high and index-linked, which affects long-term cashflow predictability. Buyers should satisfy themselves on lease terms, service charge arrangements and any planning restrictions before purchase.
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