Buxted Medical Centre, Framfield Road, UCKFIELD, East Sussex, TN22 5FD
starts 09:30 AM at Grand Connaught Rooms
Ideal SIPP Investment with Rent backed by NHS
Two outstanding Rent reviews
Current Rent £151,638 per annum
This bespoke medical centre is located within the heart of Buxted at the junction of Framfield Road with the High Street. Buxted lies on the A272 between Uckfield to the south west and Hadlow Down to the east, the A272 links west to the A22 and A26 providing good road links south towards Lewes or north east to Royal Tunbridge Wells. Transport links are further enhanced with a rail connection at Buxted which provides direct services to London Bridge with a journey time of approximately 1 hour 15 minutes. Buxted itself provides a good range of local facilities whilst more comprehensive shopping and recreational facilities are available at Uckfield whilst the surrounding countryside provides a range of outdoor pursuits.
Buxted medical Centre is a bespoke built medical centre set in grounds that provide on-site parking for visitors and staff to the property. The building is purpose built and constructed within the last 10 years or so providing some 781 sq m (8,406 sq ft) of internal space. Leading off a central reception and waiting area the east wing is a single storey section of the building providing pharmacy dispensary area, treatment and minor surgery space, office and ancillary space. The west wing is arranged over two floors, the upper floor mainly utilised for GP consulting rooms together with office, wc facilities etc whilst the lower floor is mainly arranged to provide admin function offices, record storage facilities, staff areas and facility management associated space.
The lease provides for the rent to be reimbursed to the tenant from the NHS, please refer to the lease regarding this. The entire property is let for a term of 25 years without break clauses from 20th April 2012 therefore expiring April 2037.
Rent Reviews/ Outstanding Rent Reviews:
The lease provides for rent reviews every three years , the initial rent was £134,987 , this was reviewed in April 2015 to the current passing rent of £151,638 . The landlord did not trigger the rent reviews as at 2018 and also, the current review due April 2021 remains outstanding with no notice served to trigger this however, the rent reviews are not time restricted therefore a buyer could exercise such reviews and collect the back rent – the sale entitles the buyer to retain any back rent arising as a result of the outstanding reviews.
Potential back rent Payable to New Owner:
Purchasers must rely on their own enquiries as to potential rent and amounts they may receive in back rent as a result of the outstanding reviews however, the increase in rent in 2015 equates to a rise of 12.3%. If this rate of rise was applied to the current outstanding reviews the rent as at April 2018 would be £170,289 per annum and as at April 2021 would be £191,234 per annum. On this assumption, this would provide the buyer on completion of the reviews back rent of some £55,983 for the period April 2015 to April 2018 and a further £5,236 to July 2021, this would of course increase until such times as the review was finalised.
Total Current Rent Reserved
£151,638 with no arrears and two rent reviews outstanding.
Held on a lease from the Trustees of The Basil Ionides Memorial Centre for a term of 125 years from 19th April 2011. The rent payable under this lease equates to 10% of the gross rent payable arising from the underlease and is reviewed in accordance with the underlease. Copies of Both leases are available from the auctioneers.
The property can be sold as a purchase of the company offering a considerable SDLT saving – Please contact the auctioneers to discuss this.
For each Lot, a contract documentation fee of £1,150 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
Lot location is based upon nearest property postcode only. Actual location of property being sold may differ.
Information about this lot will be sent to your friend.