Commercial Property - Investment - Fully Let Investment Retail shop with two self contained studio flats above

Generating £28,080 per annum with growth potential
Highly prominent location close to Northampton town centre
For Sale at £399,000 representing an initial gross return of 7%
Available to purchase at an asking price of £399,000 exclusive subject to exisiting occupational tenancies
Location: 

The property occupies a prominent corner position at the junction between the busy A4500 Wellingborough Road and Victoria Road approximately 1/2 mile east of Northampton town centre. Wellingborough Road is a main entrance way into Northampton Town Centre with a variety of different shops and heavy footfall with a variety of retail and restaurant uses. The large St Michaels multi storey car park is within a short walking distance to the property.

Northampton is one of England’s fastest growing towns and is the strategic location for many national organisations as their central hub for business. Northampton has excellent rail and road communications, with hourly train services to London and road links to the M1 at Junctions 15, 15a & 16 and additionally to the A14 in the North.

Description: 

A fully let mixed retail and residential property investment presently generating £28,080 per annum by way of a FRI 15 year lease from 24th May 2019 at a rent passing of £12,000 per annum exclusive (rent review pending) on the ground floor/basement plus two independently accessed self contained flats on first and second floors generating £8,400 and £7,680 respectively on 6 month AST leases.

Accommodation: 

Ground - Shop 319 sq ft    29.64 sq. m
Basement - Shop/Ancillary 317 sq ft   29.45 sq. m
1st - Studio Flat A 301 sq ft    27.96 sq. m
2nd - Studio Flat B 323 sq ft   30.01 sq. m
Total 1,260 sq ft    117.06 sq. m

 

Rates: 

Tenants responsibility 

Terms: 

A fully let mixed retail and residential property investment presently generating £28,080 per annum by way of a FRI 15 year lease from 24th May 2019 at a rent passing of £12,000 per annum exclusive (rent review pending) on the ground floor/basement plus two independently accessed self contained flats on first and second floors generating £8,400 and £7,680 respectively on 6 month AST leases.

VAT: 

All figures quoted are exclusive of any VAT that the landlord may have a duty or choose to impose.

Viewing: 

Strictly by appointment through the Sole Agents: HADLAND CHARTERED SURVEYORS TEL: 01604 639657

Sub Location: 
Wellingborough Road