Freehold Retail Investment
Freehold Retail Investment
The property is prominently situated on the south side of Gold Street in the heart of Northampton town centre. Nearby occupiers include Wilkinsons, Travelodge, Ladbrokes and 99p Stores.
Freehold.
The property is prominently situated on the south side of Gold Street in the heart of Northampton town centre. Nearby occupiers include Wilkinsons, Travelodge, Ladbrokes and 99p Stores.
Freehold.
The property comprises two adjoining retail units with retail accommodation on the ground floor and ancillary accommodation on the first floor and basement. The property benefits from a substantial frontage to Gold Street and rear access via Woolmonger Street.
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.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises two adjoining retail units with retail accommodation on the ground floor and ancillary accommodation on the first floor and basement. The property benefits from a substantial frontage to Gold Street and rear access via Woolmonger Street.
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.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review/(Reversion) | |
|---|---|---|---|---|---|---|---|
| Basement Ground First |
Ancillary Retail Ancillary |
150.00 sq m 353.50 sq m 337.90 sq m |
(1,615 sq ft) (3,805 sq ft) (3,637 sq ft) |
POUNDSTRETCHER LIMITED (1) |
15 years from 27/08/2002 on a full repairing and insuring lease | £70,000 | (26/08/2017) |
| Ground | Retail | 164.16 sq m |
(1,767 sq ft) |
FOOD TRENDS LIMITED |
15 years from 13/07/2011 until 2026 on a full repairing and insuring lease | £27,000 (2) | 13/07/2016 13/07/2021 |
| Totals | 1,005.56 sq m |
(10,824 sq ft) |
£97,000 (2) | ||||
(1) Poundstretcher Limited was established in 1981 and is the UK’s leading discount retailer of products for the home, with more than 400 retail stores across Britain. (Source: www.poundstretcher.co.uk 09/09/2014)
(2)As to the Food Trends Ltd lease, the current rent reserved is £25,000 per annum exclusive. The lease provides for the rent to be increased to £27,000 per annum exclusive on 13th July 2015. The seller will pay the buyer the difference between £25,000 p.a.x. and £27,000 p.a.x. from completion of the sale until 13th July 2015.
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