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Sold on 31/10/2022
£1,860,000 (Subject to Contract and Exclusive VAT)
Bedford has an urban area population of 294,000 (2020 ONS) with a primary catchment of approximately 320,000. The Bedford area is affluent and has a significantly higher than average number of working adults in the most affluent AB social grouping and is under-represented in the least affluent DE grouping.Excellent transport connections coupled with increasing residential provision, has led to Bedford becoming one of the countries most popular commuter towns. The new social shift to “work from home” is shifting employees further afield. As a result, Bedford is projected to see significantly above average growth in population over the period 2020-2025.Bedford is a major regional shopping destination, offering approximately 1,620 sq m of retail accommodation. With an above average volume of total retail spend with total retail expenditure surpassing £868m in 2021.The fully let and recently refurbished Harpur Centre (18,543 sq ft), anchored by Primark and Boots has significantly enhanced Bedford’s retail provision since its refurbishment in 2020. Midland Road remains a prime pedestrianised thoroughfare where major retailers represented include, Next, JD Sports, WH Smith and Holland & Barret
The subject property comprises of 3 retail units, 2 of which front onto prime Midland Road and 1 situated behind, fronting onto Allhallows with a prominent return frontage. The two units on Midland Road are located on the prime retailing pitch directly opposite the entrance to the Harpur Centre, whilst the unit to the rear benefits from excellent footfall due to proximity of the bus station accessed via Allhallows.
£188,000.00 per annum exclusive
H Samuel, Bodycare
Freehold
A net initial yield of 9.5%,
Surveyor | Investment
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