35-39 Abington Street Northampton Northamptonshire NN1 2AW

35-39 Abington Street
Northampton
Northamptonshire
NN1 2AW

  • 35-39 Abington Street<br>Northampton<br>Northamptonshire<br>NN1 2AW

Freehold Former Department Store Investment with Redevelopment Potential

  • Substantial Former Department Store and Self Contained Retail Unit
  • Adjacent to the substantial Grosvenor Shopping Centre
  • Approximate Floor Area 5,303.85 (57,087 sq ft)
  • Busy and Popular University Town.
  • Pedestrianised Prime Town Centre Location
  • Redevelopment Potential to Over 60 Flats, 3 x Retail units and a Gym/Leisure (subject to consents)
  • Asset Management Opportunity
  • Nearby Occupiers Include Metro Bank, Vodafone, Sports Direct, H&M, Waterstones, and Costa Coffee
  • Lot
    17
  • Auction
    12/Jul/2022
  • Rent
    £36,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £2,100,000 - £2,300,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

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

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
Situation

The property is located in a prime retailing position on the north side of the pedestrianised Abington street, Northampton's principal retail thoroughfare. The property benefits from a significant frontage to Abington Street and being adjacent to The Grosvenor Shopping Centre with an annual footfall of approximately 9.5 million. Nearby occupiers include Metro Bank, Vodafone, Sports Direct, H&M, Waterstones, and Costa Coffee.

The town also benefits from a popular University with a recently opened £330m campus less than 1 km south of the town centre.

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
Situation

The property is located in a prime retailing position on the north side of the pedestrianised Abington street, Northampton's principal retail thoroughfare. The property benefits from a significant frontage to Abington Street and being adjacent to The Grosvenor Shopping Centre with an annual footfall of approximately 9.5 million. Nearby occupiers include Metro Bank, Vodafone, Sports Direct, H&M, Waterstones, and Costa Coffee.

The town also benefits from a popular University with a recently opened £330m campus less than 1 km south of the town centre.

Tenure

Freehold.

Description

The property, a substantial large format retail building comprising ground and first floor retail accommodation and second floor ancillary accommodation. There is an additional self contained retail unit on the ground floor retail.

The property in not Listed and is not situated in a Conservation Area and may benefit from substantial high level redevelopment. The Seller has undertaken a feasibility study for the redevelopment of 65 residential apartments, retail units and gymnasium which has been well received by the Local Authority. A copy of the feasibility study, the planning pre application and the correspondence from the Local Authority is available in the legal pack.

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, a substantial large format retail building comprising ground and first floor retail accommodation and second floor ancillary accommodation. There is an additional self contained retail unit on the ground floor retail.

The property in not Listed and is not situated in a Conservation Area and may benefit from substantial high level redevelopment. The Seller has undertaken a feasibility study for the redevelopment of 65 residential apartments, retail units and gymnasium which has been well received by the Local Authority. A copy of the feasibility study, the planning pre application and the correspondence from the Local Authority is available in the legal pack.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Unit Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent Review/(Reversion)
35-39



39
Ground
First
Second

Ground
Retail
Retail
Ancillary

Retail
1,970.00
2,490.00
688.30

155.05
(21,205)
(26,803)
(7,409)

(1,670)
RETAIL MASTERS
LIMITED
(CRN 12811036)
3 years from 27/06/2022
(2)
£36,000
(1)
Upward Only Review
on 6 month anniversary
(26/06/2025)
Total Approximate Floor Area    
5,303.35
(57,087)
(3)
   
£36,000
 

(1) The lease provides for the rent to be paid monthly. The above rent has been annualised.
(2) The lease provides for a Landlords option to determine the lease at any time upon serving 1 month written notice. The lease is outside the security of tenure provisions of the Landlord and Tenant Act 1954.
(3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).

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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    30.06.22
    File Size
    35 MB
    Login to View
  • Brochure
    Updated Date
    22.06.22
    File Size
    1 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

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
DKLM Solicitors 3 Cranwood Street
London
EC1V 9PE
Maurice Esterkin 020 3988 7905m.esterkin@dklm.co.uk

Useful Links

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

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now