Commercial Property - - FOR SALE TOWN CENTRE INCOME PRODUCING RESTAURANT INVESTMENT

INCOME PRODUCING INVESTMENT WITH PRESENT INCOME OF £24,000 PER ANNUM
POPULAR FOOD & BEVERAGE LOCATION
ASSET MANAGEMENT OPPORTUNITIES
LOCATED CLOSE TO NORTHAMPTONSHIRE COUNTY COUNCIL OFFICES AND THE NEW UNIVERSITY OF NORTHAMPTON WATERSIDE CAMPUS
AVAILABLE TO PURCHASE, OFFERS IN EXCESS OF £350,000 EXCLUSIVE.
Location: 

With a population in excess of 220,000 Northampton is one of England’s largest and 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. Bridge Street has historically been characterised by estate agency offices and pubs, clubs, restaurants and takeaways making it a popular night-time destination.

Description: 

The block of properties comprises of 2 ground floor retail units and 20 residential flats located on the upper floors. The property is of brick construction, with a rendered finish to the upper floors, underneath a flat roof.

The ground floor commercial units benefit from large glazed shop fronts. Internally the units have been fitted out to a high quality to suit the occupiers needs.

Tenancy: 
Property Tenant Passing rent Size Lease term Rent review Break option Notes
39-41 Bridge Street, Northampton Emesa Eats Ltd. £24,000 per annum exclusive 2,177 sq. ft 15 years from 27th November 2018 5 yearly 27th November 2023 (Tenant only - subject to 6 months prior written notice) Full Repairing and Insuring Lease.
Rent deposit deed of £12,000 held by the landlord

 

Accommodation: 

 

39-41 Bridge Street, Northampton 202.2 sq. m 2,177 sq. ft



 

Rates: 

Responsibility of the tenants

Terms: 

The investment is available to purchase at asking price of £350,000 exclusive.
It is anticipated that the commercial units will be sold as a Transfer of Going Concern, therefore it is likely that VAT is not applicable for the commercial units.

VAT: 

The asking price quoted excludes any VAT which the vendor may have a duty or choose to impose.
It is anticipated that the commercial units will be sold as a Transfer of Going Concern, therefore it is likely that VAT is not applicable for the commercial units.

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: 
Town centre