Busy town centre location on prime pedestrianised retailing thoroughfare
Close to Market Walk and Grosvenor Shopping Centres
Nearby occupiers include Topshop/Topman, River Island, Waterstones, Superdrug, Costa and Caffè Nero
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 5
Auction 23rd March 2016
Rent £50,000 per Annum Exclusive
Status Sold
Price £565,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
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 International Airport, London Luton Airport, London Stansted Airport
Situation
The property is prominently situated in Northampton town centre on the north side of Abington Street, the town’s pedestrianised retail thoroughfare. The property is adjacent to Market Walk Shopping Centre and close to the Grosvenor Shopping Centre, with other nearby occupiers including Topshop/Topman, River Island, Waterstones, Superdrug, Costa and Caffè Nero.
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 International Airport, London Luton Airport, London Stansted Airport
Situation
The property is prominently situated in Northampton town centre on the north side of Abington Street, the town’s pedestrianised retail thoroughfare. The property is adjacent to Market Walk Shopping Centre and close to the Grosvenor Shopping Centre, with other nearby occupiers including Topshop/Topman, River Island, Waterstones, Superdrug, Costa and Caffè Nero.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation with additional retail and ancillary accommodation on the first floor. The second floor is not demised to Moss Bros Group Plc and is accessed by a ladder only.
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 ground floor retail accommodation with additional retail and ancillary accommodation on the first floor. The second floor is not demised to Moss Bros Group Plc and is accessed by a ladder only.
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.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground & First
Retail/ Ancillary
482.90 sq m
(5,198 sq ft)
MOSS BROS GROUP PLC (1)
10 years from 23/09/2013 until 22/09/2023 on a full repairing and insuring lease (2) (3)
£50,000
23/09/2018
Second
Ancillary
Not measured (restricted access)
Totals
482.90 sq m
(5,198 sq ft)
£50,000
(1) For the year ending 25/01/2015, Moss Bros Group Plc reported a turnover of £114,728,000, pre-tax profits of £4,824,000 and a total net worth of £35,475,000. (Source: Experian Group 17/02/2016). (2) The lease provides for a tenant option to determine on 23rd September 2018, on providing 6 months’ prior notice. (3) The lease is subject to a schedule of condition.
