Commercial Property - Retail Properties - TOWN CENTRE MIXED-USE INVESTMENT

Located on popular secondary high street
Comprises of takeaway on ground floor and basement with residential above
Planning application submitted for an additional two flats
Current passing rent of £36,000 per annum until 09/06/2022
Passing rent of £39,000 per annum as of 09/06/2022
Available to purchase at £645,000, subject to the existing tenancy agreements
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.

The new £330 million University of Northampton Waterside Campus is located along
the River Nene and provides state of the art education facilities to 15,000 students
and is just a short walk from the town centre. The campus opened in September 2018.
Gold Street is one of the town’s key gateways, leading pedestrians from the railway
station into the town centre. National retailers and operators located on Gold Street
include, Turtle Bay, Wilkinson, Poundland, and Travelodge with Argos, Peacocks,
Iceland, Home Bargains and many other located nearby in the St Peters Way Car Park.

The car park provides 531 spaces and a strong pedestrian flow on to Gold Street
through St Peters Walk. The nearby leisure complex - Sol Central is a popular visitor
attraction with a cinema, and Ibis Hotel located within it.

Description: 

The property comprises a 4 storey mixed-use property + cellar accommodation of
traditional masonry construction underneath a pitched roof.
The commercial section comprises an A3/A5 restaurant premises with a glazed
frontage and fully equipped kitchen facilities. The ground floor restaurant area
benefits from a suspended ceiling, tiled floor and entrance porchway. There is
customer disabled and male/female W. C’s located on the ground floor.
The large basement comprises ancillary storage space, staff kitchenette and staff W.C
facilities. The property benefits from all main services, these, however, have not been
tested.
Currently, there are two flats, however, the owner has submitted a planning
application for a further two flats.

Accommodation: 
Ground floor 67.9 SQ M 731 SQ FT
Basement 62.3 SQ M 671 SQ FT
TOTAL 130.2 SQ M 1,402 SQ FT

 

Rates: 
Rateable Value: £TBC
Rates Payable 2022/23: £TBC

(Excludes Small Business Rates Relief which may apply)

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 the relevant Borough Council Rating Department.

Terms: 

Available to purchase at £645,000, subject to the existing tenancy agreements

VAT: 

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

Legal Costs: 

Each party shall bear their own legal costs involved in the transaction.

Viewing: 

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

Sub Location: 
GOLD STREET