36 Abington Street and 3 Fish Street
Northampton
Northamptonshire
NN1 2AA

Prime Freehold Double Fronted Retail Investment

  • Let to Ladbrokes Gaming and Betting Limited until 2027 (no breaks)
  • Directly opposite the main entrance to the major 67 unit Grosvenor Shopping Centre
  • 2017 rental increase from £65,000 to £75,000 p.a.x.
  • Neighbouring occupiers include Vodafone, Waterstones, Holland & Barrett, Costa, HSBC and Greggs
  • Lot
    72
  • Auction
    24/May/2018
  • Rent
    £75,250 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 36 Abington Street and 3 Fish Street<br>Northampton<br>Northamptonshire<br>NN1 2AA
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Property Information

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

The property is located in a prime trading location on the southern side of the pedestrianised Abington Street, Northampton’s principal retail thoroughfare. One of the main entrances to the major 67 unit Grosvenor Shopping Centre is directly opposite, with the shopping centre benefiting from retailers including Boots the Chemist, Primark, WH Smith and Superdrug. Marks & Spencer are located directly opposite, with other neighbouring occupiers including Tesco Metro, Costa, H&M, River Island and JD Sports.

Tenure

Freehold.

Description

The property comprises ground floor retail and basement ancillary accommodation, with selfcontained hairdressing salon on the upper floors. The property benefits from a double frontage to Fish Street.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
Ground
Basement
Retail
Ancillary
107.50 sq m
29.60 sq m
(1,157 sq ft)
(318 sq ft)
LADBROKES
BETTING AND
GAMING
LIMITED (1)
15 years from
27/02/2012 until
2027 on a full
repairing and
insuring lease (2)
£75,000 (3)27/02/2022
(26/02/2027)
Upper PartsHairdressing
Salon
  INDIVIDUAL999 years from
26/11/2013
£250 
Total
137.10 sq m
(1,475 sq ft)
  £75,250 

(1) For the year ending 31st Decemeber 2016, Ladbrokes Betting and Gaming Limited reported a turnover of £843,978,000, a pre-tax profit of negative £499,547,000 and a total net worth of £722,200,000 (Source: Experian Group 17/4/2018).
(2) The tenant option to determine the lease in 2022 has been removed.
(3) The rent was increased to £75,000 per annum exclusive at the 2017 rent review.

Property Documents

  • Catalogue Page
    Updated Date
    02.05.18
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    02.05.18
    File Size
    4 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44(0)20 7034 4854billy.struth@acuitus.co.uk
Associate Auctioneers
Chown Commercial Limited 24 Bridge Street
Northampton
NN1 1NT
Simon Chown 01604 604050 spc@chowncommercial.co.uk
Seller's Solicitors
Fieldfisher Riverbank House, 2 Swan Lane
London
EC4R 3TT
Mariana Burns 0207 861 4000mariana.burns@fieldfisher.com

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