Block of Flats for sale in the Elstow, Bedford

Build-to-Rent in Elstow available for sale

Block of Flats for Sale Within 5 miles of the Elstow, Bedford

Riverside North

Bedford, MK40 1AS

Build-to-Rent for Sale
£12,420,000
170,000 sq ft

Bedford Build-to-Rent for Sale

Located in Bedford, a growing town in South-East England with a catchment of over 300,000 people and 8.5 million annual visitors, this modern leisure, hotel, and residential scheme was constructed in 2017 on a 3-acre site with a total floor area of 170,376 sq ft. The property is anchored by leading operators including Premier Inn, Vue Cinema, Zizzi, Miller & Carter, Wagamama, and Loungers, with circa 70% of income secured to Premier Inn, Vue, and Mitchells & Butlers. The asset generates a net operating income of £1,325,372 per annum and benefits from a WAULT of 14.41 years to expiry and 10.51 years to break, with rent reviews scheduled for 2027. Held long leasehold from Bedford Borough Council (240 years unexpired) at a peppercorn rent, the property is offered via a Jersey-based SPV for a corporate deal. Bedford’s position as a leisure destination is reinforced by the recent closure of Cineworld out of town and the proposed first Universal Studios in the UK just 5km south, presenting a compelling investment opportunity.