Adjacent to Marks & Spencer, WHSmith, Next, Superdry, Superdrug and Boots the Chemist
Excellent trading location in pedestrianised Market Square
VAT-free Investment
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 98
Auction 13th October 2016
Rent £76,000 per Annum Exclusive
Status Sold
Price £780,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
17 miles north-west of Milton Keynes, 66 miles north-west of Central London
Roads
A43, A45, A428, A508, M1 (Junction 15A)
Rail
Northampton Railway Station
Air
London Luton Airport
Situation
The property is located in an excellent trading location on the eastern side of Market Square, almost adjacent to the entrance of Market Walk Shopping Centre, in the heart of the town centre. The Grosvenor Shopping Centre is a short walk away housing occupiers including Primark, Sainsbury's, Topman, WHSmith, Next, Superdry, Superdrug, Boots the Chemist, Costa and McDonald's. Other nearby occupiers include Marks & Spencer, Tesco Metro, H & M, Nando's, Prezzo, ASK Italian and JD Wetherspoon.
Tenure
Freehold.
Location
Miles
17 miles north-west of Milton Keynes, 66 miles north-west of Central London
Roads
A43, A45, A428, A508, M1 (Junction 15A)
Rail
Northampton Railway Station
Air
London Luton Airport
Situation
The property is located in an excellent trading location on the eastern side of Market Square, almost adjacent to the entrance of Market Walk Shopping Centre, in the heart of the town centre. The Grosvenor Shopping Centre is a short walk away housing occupiers including Primark, Sainsbury's, Topman, WHSmith, Next, Superdry, Superdrug, Boots the Chemist, Costa and McDonald's. Other nearby occupiers include Marks & Spencer, Tesco Metro, H & M, Nando's, Prezzo, ASK Italian and JD Wetherspoon.
Tenure
Freehold.
Description
The property comprises a ground floor restaurant with ancillary accommodation at basement and first floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor restaurant with ancillary accommodation at basement and first floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground Basement First
Restaurant/Ancillary Ancillary Ancillary
274.05 sq m 52.02 sq m 56.20 sq m
(2,950 sq ft) (560 sq ft) (605 sq ft)
BURGER KING LIMITED (1)
35 years from 29/09/1985 on a full repairing and insuring lease
£76,000
(28/09/2020)
Totals
382.27 sq m
(4,115 sq ft)
£76,000
(1) Founded in 1954, Burger King is the second largest hamburger chain in the world. In 2010, 3G Capital, a global multi-million dollar investment firm focused on long term value creation, purchased the stocks of Burger King Corporation for $4 billion, making it a privately held company (Sources: www.burgerking.co.uk and www.3g-capital.com 07/09/2016). The property is sublet to a Burger King franchisee.
