Commercial Property - Retail Properties - TOWN CENTRE RESTAURANT PROPERTY

PROMINENT TOWN CENTRE POSITION
DOUBLE FRONTED UNIT
NEW CINEMA EXPECTED TO OPEN LATE 2013 OPPOSITE
NEARBY DEVELOPMENT OF A 464 ROOM ACCOMMODATION BLOCK FOR THE UNIVERSITY OF NORTHAMPTON - EXPECTED COMPLETION BEGINNING OF 2014
TO LET ON A NEW LEASE AT AN INITIAL RENT OF £20,000 PER ANNUM, EXCLUSIVE.
Location: 

The property is located on Derngate on the eastern edge of Northampton Town centre. It is situated on a retail parade that sits opposite the Royal and Derngate Theatre. Works commenced late 2012 on a new cinema to adjoin on to the Royal and Derngate Theatre building with expected completion by late spring 2013. Works have also commenced on the site of the St John’s Surface Car Park for the development of a 464-room halls of residence, as accommodation for students of the University of Northampton.

There is a range of redevelopment activity within Northampton - being an Enterprise Zone area:

  • Multi-million pound re-development of the existing Railway Station
  • New £25m development of student accommodation for the university in the main town centre
  • New £7m bus station development on Northampton’s former Fishmarket
  • Proposals for the expansion of the Grovesenor Centre onto the current bus station site (Greyfriars)
  • New Cinema adjoining the Royal & Derngate Theatre
  • Advanced proposals for the relocation of the University of Northampton to a centrally accessible site
Description: 

The property comprises a double unit with large window display and frontage and two separate entrances. Accommodation is provided on the ground floor and basement, with kitchen and toilet facilities located on the ground floor level. 

Accommodation: 
Ground Floor    
Order & Seating Area: 50.08 sq m 539 sq ft
Kitchen: 17.93 sq m 193 sq ft
+ Separate male, female and disabled W.C’s
Basement    
Bar & seating area: 84 sq m 904 sq ft
Special wine store: 2.91 sq m 31 sq ft
Store: 3.26 sq m 35 sq ft
Office: 3.68 sq m 40 sq ft
Total Net Internal Area: 93.85 sq m  1,742 sq ft

 

Rates: 
Rateable Value (Estimate) £14,000
Rates Payable 2012/13 £6,412

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 (01933 231691).

Planning: 

We understand that the property has consent for A3 use. We advise applicants to make their own enquiries as to the suitability of the existing planning consent and their intended use of the property.  The local planning authority can be contacted on: - Tel: 01604 837837

Terms: 

The property is available to let on a new Full Repairing & Insuring lease for an initial rent of £20,000 per annum exclusive for a term to be agreed.  Subject to status and contract.  

Legal Costs: 

The ingoing tenant will be responsible for the landlord’s reasonable legal costs involved in the transaction. 

Viewing: 

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