Commercial Property - Office Buildings - TOWN CENTRE OFFICE WITH TENANTED BASEMENT CAFÉ

PERIOD TOWN CENTRE OFFICE BUILDING WITH TENANTED BASEMENT CAFÉ
POTENTIAL FOR REDEVELOPMENT SUBJECT TO OBTAINING THE REQUISITE PLANNING CONSENTS
CONVENIENT LOCATION BETWEEN ABINGTON STREET AND ST. GILES STREET
NEW UNIVERSITY OF NORTHAMPTON WATERSIDE CAMPUS LOCATED NEARBY
NORTHAMPTON COUNTY COUNCIL, NORTHAMPTON GENERAL HOPSPITAL AND ST. ANDREWS HEALTHCARE ALL LOCATED NEARBY
THE PROPERTY IS AVAILABLE TO PURCHASE SUBJECT TO THE EXISING OCCUPATIONAL LEASE FOR THE BASMENT AND VACANT POSSESSION OF THE OFFICE SECTIONS AT AN ASKING PRICE OF £300,000 EXCLUSIVE
Location: 

Northampton is England’s second largest town with a population of 222,500 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. Northampton currently has an Enterprise Zone status which aims to support both new and expanding businesses by offering incentives.
St. Giles Terrace is characterised by a mixture of commercial and residential uses, in particular the road is a popular location for legal practices. The subject property is located within the St. Giles Conservation area, the building is listed.
Northampton General Hospital and St. Andrews Healthcare are located close by, as are the newly constructed Northampton County Council offices and the new University of Northampton Waterside Campus.

Description: 

The property comprises of a Victorian brick-built town house style office building underneath a pitched welsh slate roof. The accommodation is over 4 floors, with the basement accommodation currently being used as a popular café. There may be the potential for alternative uses, subject to obtaining the requisite planning consents.

Tenancy: 

The basement and garden area of the property are currently let out as a café on a 10 year lease as of 1st April 2014 at an annual rent of £5,000 per annum exclusive.

Accommodation: 
Ground floor 25.6 sq m 276 sq ft
First floor 30.5 sq m 328 sq ft
Second floor 30.3 sq m 326 sq ft
Basement 36.8 sq m 396 sq ft

 

Rates: 

Ground floor café
Rateable Value: £ 2,350
Rates Payable 2019/2020: £ 1,153.85
Estimated Rates Payable 2019/2020 (with Small Business Relief) £ 0

Ground, first and second floor offices
Rateable Value: £ 6,000
Rates Payable 2019/2020: £ 2,946
Estimated Rates Payable 2019/2020 (with small business rates relief) £ 0

The Rates Payable figure is an estimate. It does not take into account any Transitional Arrangements. It is important that interested parties verify this information with Northampton Borough Council Rating Department on (0300 330 7000).

Terms: 

The property is available for sale at an asking price of £300,000 exclusive. This is subject to the occupational lease of the basement. The office sections of the building (ground, first and second floors) will be vacant upon possession.

VAT: 

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

Viewing: 

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

Sub Location: 
ST GILES TERRACE