Entirely let to Baleday Ltd (t/a Cashino) until November 2025 (no breaks)
Nearby occupiers include Nando’s, Burger King, HSBC, Superdrug and River Island
Busy town centre location on prime pedestrianised retailing thoroughfare
Close to the Grosvenor Shopping Centre and Market Square
Lot 18
Auction 9th July 2014
Rent
Status Sold
Price £825,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Joint LPA Receivers
Property Information
Location
Miles
19.5 miles north of Milton Keynes, 57 miles south-east of Birmingham, 67 miles north-west of Central London
Roads
A508, A43, M1
Rail
Northampton Rail Station
Air
Luton Airport
Situation
The property is prominently situated in Northampton town centre on the northern side of Abington Street, a prime pedestrianised retailing thoroughfare. The property is within close proximity to the Grosvenor Shopping Centre and Market Square with other nearby occupiers including Nando’s, Burger King, HSBC, Superdrug and River Island.
Tenure
Freehold.
Location
Miles
19.5 miles north of Milton Keynes, 57 miles south-east of Birmingham, 67 miles north-west of Central London
Roads
A508, A43, M1
Rail
Northampton Rail Station
Air
Luton Airport
Situation
The property is prominently situated in Northampton town centre on the northern side of Abington Street, a prime pedestrianised retailing thoroughfare. The property is within close proximity to the Grosvenor Shopping Centre and Market Square with other nearby occupiers including Nando’s, Burger King, HSBC, Superdrug and River Island.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with an additional self-contained retail unit on the first floor.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
6 Week Completion
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 ground floor retail unit with an additional self-contained retail unit on the first floor.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
6 Week Completion
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
Reviews
Ground First Second
Retail Retail Ancillary (4)
192.51 sq m 110.16 sq m Not Measured
(2,072 sq ft) (1,186 sq ft) Not Measured
BALEDAY LIMITED (1) (t/a Cashino) (2)
13 years and 5 months from 01/07/2012 until 30/11/2025 on a full repairing and insuring lease
£91,399 (3)
01/12/2015 and 01/12/2020
Totals
302.67 sq m
(3,258 sq ft)
£91,399 (3)
(1) Baleday Limited is a wholly owned subsidiary of Praesepe Holdings Limited. Praesepe is the UK’s largest chain of adult gaming centres operating from a total of 170 adult gaming centres, bingo clubs and family entertainment centres in 100 towns and cities throughout Great Britain. (Source: www.cashinogaming.com 05/06/2014) (2) The tenant has sublet the first floor retail unit. (3) For the purposes of clarification, the current rent is £80,000 p.a.x. rising to £91,399 p.a.x. in December 2015 and £104,422 p.a.x. in December 2020. The seller has agreed to adjust the completion monies so that the property effectively produces £91,399 p.a.x. from completion of the sale. (4) Please note that the second floor has low head height and can only be accessed by step ladder via first floor.