Tenants include Asda Stores Limited and Northampton Vets4Pets Limited
Potential redevelopment and asset management opportunities (subject to consents)
Majority benefits from open A1 food and non food use
Less than 250 metres from Beckett Retail Park
Approximate site area of 0.324 hectare (0.8 acre)
Large car park for approximately 54 cars
Six Week Completion Available
Lot 23
Auction 10th July 2012
Rent £180,000 per Annum Exclusive
Status Sold
Price £1,480,000
Sector Retail Warehouse
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On the instructions of A Swarbrick and AR Bloom of Ernst & Young LLP, acting as Joint Administrators of Canley 4 Limited
Property Information
Location
Miles
22 miles north-west of Bedford, 53 miles south-east of Birmingham, 70 miles north of London
Roads
A4500, A428, M1 (Junctions 15/16)
Rail
Northampton Railway Station
Air
Northampton Airport
Situation
The property is situated in a prominent position on the eastern side of St James Road (A4500) which links to the M1 motorway (Junction 16) to the west. Beckett Retail Park housing retailers such as Majestic Wine, HSS Hire, Maplin and Benson for Beds lies less than 250 metres to the east with other nearby occupiers including Bathstore.com, NatWest Bank and First Travel.
Tenure
Freehold.
Location
Miles
22 miles north-west of Bedford, 53 miles south-east of Birmingham, 70 miles north of London
Roads
A4500, A428, M1 (Junctions 15/16)
Rail
Northampton Railway Station
Air
Northampton Airport
Situation
The property is situated in a prominent position on the eastern side of St James Road (A4500) which links to the M1 motorway (Junction 16) to the west. Beckett Retail Park housing retailers such as Majestic Wine, HSS Hire, Maplin and Benson for Beds lies less than 250 metres to the east with other nearby occupiers including Bathstore.com, NatWest Bank and First Travel.
Tenure
Freehold.
Description
The property comprises a single storey retail warehouse unit and a separate single storey veterinary surgery. The property benefits from a large car park for 54 cars and an approximate site area of 0.324 hectare (0.8 acre)
NOTE
This property is being marketed for sale on behalf of A Swarbrick and AR Bloom, Joint Administrators of Canley 4 Limited and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Administrators are not bound to accept the highest or any offer and are acting as agents of the Company only and without personal liability.
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 a single storey retail warehouse unit and a separate single storey veterinary surgery. The property benefits from a large car park for 54 cars and an approximate site area of 0.324 hectare (0.8 acre)
NOTE
This property is being marketed for sale on behalf of A Swarbrick and AR Bloom, Joint Administrators of Canley 4 Limited and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Administrators are not bound to accept the highest or any offer and are acting as agents of the Company only and without personal liability.
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
Retail
1,104.00 sq m
(11,886 sq ft)
ASDA STORES LIMITED (1)
15 years from 18/08/2006 until 17/08/2021 (2)
£150,000
18/08/2015
Ground
Veterinary Surgery
249.54 sq m
(2,686 sq ft)
NORTHAMPTON VETS4PETS LIMITED (3) guaranteed by Vets4Pets Veterinary Group Limited (t/a Vets4Pets)
15 years from 04/11/2009 until 03/11/2024
£30,000
04/11/2014 and 03/11/2019
Totals
1,353.54 sq m
(14,572 sq ft)
£180,000
(1) For the year ending 31st December 2010, Asda Stores Limited reported a turnover of £20,535,300,000, pre-tax profits of £491,800,000 and a total net worth of £4,231,300,000. (Source: www.riskdisk.com 11/06/2012) (2) The tenant is not currently in occupation. The lease provides for a tenant option to determine on 18th August 2015. The tenant must pay a premium of £150,000 to exercise this break. (3) Founded in 1991, Vets4Pets is a successful veterinary practice with branches in over 70 locations across the UK and Channel Islands. (Source: www.vets4pets.com 11/06/2012)
Contacts
Seller's Solicitors
Maxwell Winward LLP 100 Ludgate Hill London EC4M 7RE
