6A & 6B Abington Street Northampton Northamptonshire NN1 2AJ

  • 6A & 6B  Abington Street<br>Northampton<br>Northamptonshire<br>NN1 2AJ

6A & 6B Abington Street
Northampton
Northamptonshire
NN1 2AJ

Freehold Retail and Office Investment

  • Comprises two retail units with self-contained office accommodation on the upper floors
  • 6A let to Nero Holdings Limited t/a Caffè Nero
  • Busy town centre location on major retailing thoroughfare
  • Nearby occupiers include Marks & Spencer, Waterstones, Holland & Barrett, Moss Menswear, River
  • Island and Costa
  • Residential redevelopment potential of upper floors (subject to consents)
  • Lot
    4
  • Auction
    19th October 2017
  • Rent
    £80,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,030,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Insolvency Practitioners at Deloitte
Important Update
  • Expand
  • Photos
  • Map

Freehold Retail and Office Investment

  • Comprises two retail units with self-contained office accommodation on the upper floors
  • 6A let to Nero Holdings Limited t/a Caffè Nero
  • Busy town centre location on major retailing thoroughfare
  • Nearby occupiers include Marks & Spencer, Waterstones, Holland & Barrett, Moss Menswear, River
  • Island and Costa
  • Residential redevelopment potential of upper floors (subject to consents)
  • Lot 4
  • Auction 19th October 2017
  • Rent £80,000 per Annum Exclusive
  • Status Sold
  • Price £1,030,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Insolvency Practitioners at Deloitte

Property Information

Location
Miles
17 miles north-west of Milton Keynes, 50 miles south-east of Birmingham, 66 miles north-west of Central London
Roads
A43, A45, A428, A508, M1 (Junction 15A)
Rail
Northampton Railway Station
Air
Birmingham Airport, London Luton Airport, London Stansted Airport
Situation

The property is prominently situated in Northampton town centre on the south side of Abington Street, the town’s pedestrianised retail thoroughfare, at its junction with Dychurch Lane. The Market Walk and Grosvenor Shopping Centres are located close by, with other nearby occupiers including Marks & Spencer, Waterstones, Holland & Barrett, Moss Menswear, River Island and Costa.

Tenure

Freehold.

Location
Miles
17 miles north-west of Milton Keynes, 50 miles south-east of Birmingham, 66 miles north-west of Central London
Roads
A43, A45, A428, A508, M1 (Junction 15A)
Rail
Northampton Railway Station
Air
Birmingham Airport, London Luton Airport, London Stansted Airport
Situation

The property is prominently situated in Northampton town centre on the south side of Abington Street, the town’s pedestrianised retail thoroughfare, at its junction with Dychurch Lane. The Market Walk and Grosvenor Shopping Centres are located close by, with other nearby occupiers including Marks & Spencer, Waterstones, Holland & Barrett, Moss Menswear, River Island and Costa.

Tenure

Freehold.

Description

The property comprises two retail units arranged over ground and basement with self-contained office accommodation on the first and second floors, accessed via Dychurch Lane. The first and second floors may be suitable for residential redevelopment (subject to consents).

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two retail units arranged over ground and basement with self-contained office accommodation on the first and second floors, accessed via Dychurch Lane. The first and second floors may be suitable for residential redevelopment (subject to consents).

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/
(Reversion)
6A Ground

Basement
Retail/
Ancillary
Ancillary
140.00 sq m

90.95 sq m
(1,507 sq ft)

(979 sq ft)
NERO
HOLDINGS
LIMITED (1)
5 years
from
20/11/2014
£50,000 (19/11/2019)
6B Ground

Basement
Retail/
Ancillary
Ancillary
98.93 sq m

70.80 sq m
(1,065 sq ft)

(762 sq ft)
INDIVIDUAL
to trade as
Styles of
London
10 years
from the
date of
completion
(2)
£30,000 (2) 5th anniversary
(10 years from
the date of
completion)
6A/6B First

Second
Office/
Ancillary
Office/
Ancillary
253.99 sq m

252.97 sq m
(2,734 sq ft)

(2,723 sq ft)
VACANT      
Total  
907.64 sq m
(9,770 sq ft)
    £80,000  

(1) For the year ending 31st May 2016, Nero Holdings Limited reported a turnover of £248,761,000, pre-tax profits of £24,237,000 and a total net worth of £191,791,000 (Source: Experian Group 01/09/2017).
(2) The lease has been agreed and is in solicitors’ hands due to complete imminently. On completion of the lease, the tenant will commence their fit-out works. The lease provides for a tenant option to determine on the 5th anniversary of the term. The tenant is to benefit from a four month rent free period from the date of completion. The seller has agreed to adjust the completion monies so that the unit will produce £30,000 p.a.x. from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    11.11.19
    File Size
    895 KB
    View PDF
  • Site Plan
    Updated Date
    11.11.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
CMS Cameron McKenna Nabarro Oswang LLP 2nd Floor, The Blade, Abbey Square
Reading
RG1 3BE
William Reed 020 7367 2845william.reed@cms-cmno.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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