Burger King 25 Market Square Northampton Northamptonshire NN1 2DF

Burger King
25 Market Square
Northampton
Northamptonshire
NN1 2DF

Freehold Retail/Restaurant Investment

Let to Burgerking Limited t/a Burger King
Section 26 notice served by the subtenant requesting a new lease (2)
Close to Marks & Spencer, WHSmith, Next, Superdry, Superdrug and Boots the Chemist
Excellent trading location in pedestrianised Market Square
VAT-free investment

Lot
38
Auction
26th March 2020
Rent
£76,000 per Annum Exclusive
Status
Sold
Price
Sector
Restaurant
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

Important Update

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Freehold Retail/Restaurant Investment

Let to Burgerking Limited t/a Burger King
Section 26 notice served by the subtenant requesting a new lease (2)
Close to Marks & Spencer, WHSmith, Next, Superdry, Superdrug and Boots the Chemist
Excellent trading location in pedestrianised Market Square
VAT-free investment

Lot 38
Auction 26th March 2020
Rent £76,000 per Annum Exclusive
Status Sold
Price
Sector
Restaurant
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

Property Information

Location

Miles: 17 miles north-west of Milton Keynes; 66 miles north-west of Central London
Roads: A43, A45, A428, A508, M1 (Junction 15A)
Rail: Northampton Railway Station
Air: London Luton Airport

Situation

The property is located in an excellent trading location on the eastern side of Market Square, almost adjacent to the entrance of Market Walk Shopping Centre, in the heart of the town centre. The Grosvenor Shopping Centre is a short walk away housing occupiers including Primark, Sainsbury's, Topman, WHSmith, Next, Superdry, Superdrug, Boots the Chemist, Costa and McDonald's. Other nearby occupiers include Marks & Spencer, Tesco Metro, H&M, Nando's, Prezzo, ASK Italian and JD Wetherspoon.

Tenure

Freehold.

Location

Miles: 17 miles north-west of Milton Keynes; 66 miles north-west of Central London
Roads: A43, A45, A428, A508, M1 (Junction 15A)
Rail: Northampton Railway Station
Air: London Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor restaurant with ancillary accommodation at basement and first floors.

VAT

VAT is not applicable to this lot.

EPC

Band F. Available at acuitus.co.uk

Description

The property comprises a ground floor restaurant with ancillary accommodation at basement and first floors.

VAT

VAT is not applicable to this lot.

EPC

Band F. Available at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reversion
Ground Basement First	Restaurant/Ancillary Ancillary Ancillary	274.05 sq m 52.02 sq m 56.20 sq m	(2,950 sq ft) (560 sq ft) (605 sq ft)	BURGERKING LIMITED t/a Burger King (1)	35 years from 29/09/1985 on a full repairing and insuring lease	£76,000	28/09/2020 (2)
Total		382.27 sq m	(4,115 sq ft)			£76,000

(1) Founded in 1954, Burger King is the second largest hamburger chain in the world. The Burger King system operates more than 17,800 locations in more than 100 countries and U.S. territories. Almost 100 per cent of Burger King restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades (Source: https://www.bk.com/about-bk / www.rbi.com 26/02/2020). The property is sublet to a Burger King franchisee.
(2) The subtenant has served a Section 26 notice on the vendor, dated 18th February 2020, requesting a new lease. Please see legal pack for further details.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.