39 - 41 Northbrook Street Newbury Berkshire RG14 1DT

39 - 41 Northbrook Street
Newbury
Berkshire
RG14 1DT

Freehold Retail and Office Investment with Residential Redevelopment Potential (s.t.c.)

  • Retail units let to Sportswift Limited t/a Card Factory and Stormfront Retail Limited
  • Self-contained office accommodation on upper floors part let to Pinkgreen Creative Limited
  • Residential conversion potential (subject to consents)
  • Adjacent to the Parkway Shopping Centre
  • Nearby occupiers include Jigsaw, H&M, McDonald’s and Costa Coffee
  • Lot
    6
  • Auction
    5th December 2018
  • Rent
    £97,420 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,120,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the instructions of Lasalle Investment Management
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail and Office Investment with Residential Redevelopment Potential (s.t.c.)

  • Retail units let to Sportswift Limited t/a Card Factory and Stormfront Retail Limited
  • Self-contained office accommodation on upper floors part let to Pinkgreen Creative Limited
  • Residential conversion potential (subject to consents)
  • Adjacent to the Parkway Shopping Centre
  • Nearby occupiers include Jigsaw, H&M, McDonald’s and Costa Coffee
  • Lot 6
  • Auction 5th December 2018
  • Rent
  • Status Sold
  • Price £1,120,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the instructions of Lasalle Investment Management

Property Information

Location
Miles
19 miles west of Reading
27 miles south of Oxford
Roads
A4, A39, A339, M4 (Junction 13)
Rail
Newbury Railway Station
Air
Heathrow Airport
Situation

Newbury is a popular market town some 19 miles west of Reading. The property occupies a prominent position on Northbrook Street, adjacent to the Parkway Shopping Centre. The scheme houses occupiers including Costa, Ecco, H&M, John Lewis and Fat Face. Other nearby occupiers include McDonald’s, Specsavers, Metro Bank and Blacks Outdoor Wear.

Tenure

Freehold.

Location
Miles
19 miles west of Reading
27 miles south of Oxford
Roads
A4, A39, A339, M4 (Junction 13)
Rail
Newbury Railway Station
Air
Heathrow Airport
Situation

Newbury is a popular market town some 19 miles west of Reading. The property occupies a prominent position on Northbrook Street, adjacent to the Parkway Shopping Centre. The scheme houses occupiers including Costa, Ecco, H&M, John Lewis and Fat Face. Other nearby occupiers include McDonald’s, Specsavers, Metro Bank and Blacks Outdoor Wear.

Tenure

Freehold.

Description

The property is an attractive three storey building, comprising two ground floor retail units with two selfcontained office suites on first and second floors. The offices are accessed via a dedicated entrance on Northbrook Street.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk.

Description

The property is an attractive three storey building, comprising two ground floor retail units with two selfcontained office suites on first and second floors. The offices are accessed via a dedicated entrance on Northbrook Street.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

Unit Floor Use
Floor Areas (Approx)
Tenant Term Rent p.a.x Review/
(Reversion)
39 Ground Retail
234.02 sq m
(2,519 sq ft)
SPORTSWIFT
LIMITED (1)
t/a Card Factory
5 years from
29/06/2018 (2)
£35,000 (28/06/2023)
41 Ground Retail
148.92 sq m
(1,603 sq ft)
STORMFRONT
RETAIL LIMITED (4)
10 years from
14/09/2011 (5)
£42,500 14/09/2016 (6)
40 First Office
185.62 sq m
(1,998 sq ft)
VACANT
POSSESSION
     
40 Second Office
185.06 sq m
(1,992 sq ft)
PINKGREEN
CREATIVE LIMITED
(3)
5 years from
10/11/2015
£19,920 (09/11/2020)
Total
753.62 sq m
(8,112 sq ft)
    £97,420  

(1) For the year ending 31 January 2018, Sportswift Limited reported a turnover of £403,120,000, pre-tax profits of £73,877,000 and a total net worth of £47,253,000 (Source: Experian Group 07/11/2018). Card Factory is the leading specialist retailer of greetings cards, gift dressings and party products in the UK with over 900 stores in both the UK and Ireland, with new stores opening every year (Source: www.cardfactory.co.uk 07/11/2018).
(2) The tenant is currently benefitting from a rent free period due to expire on 05/04/2019. The seller has agreed to adjust the completion monies so that the unit will effectively produce £35,000 from the completion of sale. The lease provides an option to determine on
28/06/2021. If the tenant does not exercise this option, they will benefit from paying a peppercorn rent between 29/06/2021 and 28/12/2021.
(3) Pink Green is an integrated creative agency delivering brand and marketing campaigns through film, digital and print (Source: https://pink.green/ 08/11/2018).
(4) Stormfront is the UK’s largest Apple premium reseller with 23 stores nationwide (Source: https://stormfront.co.uk 07/11/2018).
(5) Stormfront Retail Limited did not exercise their November 2018 break option and the notice period has now passed.
(6) The 2016 rent review is outstanding.

Property Documents

  • Catalogue Page
    Updated Date
    25.10.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    25.10.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Forsters LLP 31 Hill Street
London
W1J 5LS
Mary-Anne Murray 0207 863 8420Mary-Anne.Murray@Forsters.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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