Prominent corner position on prime pedestrianised retail pitch
Adjacent to McDonald’s Restaurant and Rev Clothing
Nearby occupiers include Marks & Spencer, Costa Coffee, Savers and Subway
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 21
Auction 23rd March 2016
Rent £80,000 per Annum Exclusive
Status Sold
Price £800,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
15 miles north-east of Northampton, 27 miles south-east of Leicester, 55 miles south-east of Birmingham
Roads
A6003, A509, A14 (M) (Junction 7)
Rail
Kettering North Rail
Air
East Midlands Airport
Situation
Kettering is the second largest commercial centre in Northamptonshire, approximately 15 miles north-east of Northampton midway between the M1 Motorway and the A1(M). The property is situated in a prominent corner location on the western side of the pedestrianised High Street, at its junction with Meadow Road. The property lies adjacent to McDonald’s, with other near occupiers including Marks & Spencer, Costa Coffee, Savers and Subway.
Tenure
Freehold.
Location
Miles
15 miles north-east of Northampton, 27 miles south-east of Leicester, 55 miles south-east of Birmingham
Roads
A6003, A509, A14 (M) (Junction 7)
Rail
Kettering North Rail
Air
East Midlands Airport
Situation
Kettering is the second largest commercial centre in Northamptonshire, approximately 15 miles north-east of Northampton midway between the M1 Motorway and the A1(M). The property is situated in a prominent corner location on the western side of the pedestrianised High Street, at its junction with Meadow Road. The property lies adjacent to McDonald’s, with other near occupiers including Marks & Spencer, Costa Coffee, Savers and Subway.
Tenure
Freehold.
Description
The property comprises a large ground floor retail unit with first floor and basement ancillary accommodation, and benefits from rear servicing.
NB: A partner of Reid Rose Gregory discloses an interest in the property.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a large ground floor retail unit with first floor and basement ancillary accommodation, and benefits from rear servicing.
NB: A partner of Reid Rose Gregory discloses an interest in the property.
VAT
VAT is applicable to this lot.
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
Retail/Ancillary Ancillary Ancillary
466.09 sq m 10.96 sq m 305.27 sq m
(5,017 sq ft) (118 sq ft) (3,286 sq ft)
PEACOCKS STORE LIMITED (1)
15 years from 01/02/2003 on a full repairing and insuring lease
£80,000
01/02/2018
Totals
782.33 sq m
(8,421 sq ft)
£80,000
(1) For the year ending 28th February 2015, Peacocks Stores Limited reported a turnover of £351,680,000, pre-tax profits of £67,042,000 and a total net worth of £133,220,000. (Source: Experian Group 24/02/2016). Originally established in 1884, Peacocks is a value fashion chain with over 450 stores in the UK. Peacocks is now a part of the Edinburgh Woollen Mill Group, which includes other brands including Ponden Home Interiors, Jane Norman and The Edinburgh Woollen Mill (source: www.peacocks.co.uk 25/02/2016).
