Entirely let to 99p Stores Limited until 2024 (no breaks)
Situated on prime pedestrianised retail thoroughfare
Nearby occupiers include H&M, Marks & Spencer, Greggs and The Co-operative Bank
Large approximate area of 2,059.13 sq m (22,165 sq ft)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 44
Auction 23rd March 2016
Rent £160,000 per Annum Exclusive
Status Sold
Price £1,910,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
17 miles north of Milton Keynes, 31 miles south of Leicester, 50 miles south-east of Birmingham
Roads
A428, A508, A14, M1
Rail
Northampton Rail
Air
Birmingham International, London Luton
Situation
The property is situated in the heart of the town centre on the northern side of the pedestrianised Abington Street, Northampton’s prime retail thoroughfare. The property is situated a short distance from both the Newland Walk and Market Walk Shopping Centres and backs onto Wellington Street Car Park. Nearby occupiers include H&M, Marks & Spencer, Greggs and The Cooperative Bank.
Tenure
Freehold.
Location
Miles
17 miles north of Milton Keynes, 31 miles south of Leicester, 50 miles south-east of Birmingham
Roads
A428, A508, A14, M1
Rail
Northampton Rail
Air
Birmingham International, London Luton
Situation
The property is situated in the heart of the town centre on the northern side of the pedestrianised Abington Street, Northampton’s prime retail thoroughfare. The property is situated a short distance from both the Newland Walk and Market Walk Shopping Centres and backs onto Wellington Street Car Park. Nearby occupiers include H&M, Marks & Spencer, Greggs and The Cooperative Bank.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation on first to third floors.
Six 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 ancillary accommodation on first to third floors.
Six Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
10 years from 22/07/2014 until 21/07/2024 on a full repairing and insuring lease (3)
£160,000
22/07/2019 (2)
Totals
2,059.13 sq m
(22,165 sq ft)
£160,000 rising to a minimum of £175,000 in July 2019 (2)
(1) Started in 2001, 99p Stores is the UK’s second largest single price point retailer, with over 250 stores nationwide and 2 million customers every week. (Source: www.99pstoresltd.com 25/02/2016). (2) As to the 2019 review, the lease provides for the rent to be reviewed to open market value, subject to a minimum of £175,000 in 22/07/2019 and a maximum of £184,000. (3) The tenant is not liable to repair the boiler unless the tenant puts it to use.
