Commercial Property - Retail Properties - PRIME RETAIL UNIT WITH UPPER PARTS

GROUND FL: 8,400 FT2 FIRST FL: 5,600 FT2 SECOND/THIRD FL: 8,000 FT2
SUBSTANTIAL 3 STOREY PROPERTY AVAILABLE AS A WHOLE OR IN PARTS
LOCATED ON NORTHAMPTON’S PRIME RETAIL STREET
HIGH RISE RESIDENTIAL DEVELOPMENT POTENTIAL (STP) MAY SUIT STUDENT ACCOMMODATION
AVAILABLE TO LET ON A NEW LEASE FOR A TERM OF YEARS TO BE AGREED
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 currently being constructed along the River Nene and will provide state of the art education facilities to 15,000 students and is just a short walk from the town centre. The campus is set to open in September 2018.
Northamptonshire County Council are also in the process of constructing their new Public Sector headquarters in the heart of Northampton Town Centre, this will hold 2000 professional workers and will bring an estimated additional £12 million spend into the Northampton Town Centre Economy.
The property is situated in a busy position in Northampton’s prime shopping street. Abington Street has recently been reopened to traffic and has seen the installation of free parking bays. A number of national occupiers are located on Abington Street, these include: H & M, Marks and Spencer’s, Poundland, Tesco Metro and Thomas Cook.

Description: 

The property comprises a mid terrace building over 4 floors, with ground floor retail unit and storage above. The ground floor sales area measures 8400 sq ft (780.4 sq m), the most recent occupier was Poundland.
There is a loading bay on Albert Place with a double height loading bay at first floor level and goods lift.

Accommodation: 
Ground floor 780.4 sq m 8,400 sq ft
First floor 520.3 sq m 5,600 sq ft
Second floor 622.5 sq m 6,700 sq ft
Second/Third floor 120.8 sq m 1,300 sq ft
Total 2,044 sq m 22,000 sq ft

 

Rates: 
Rateable Value: £125,000
Rates Payable 2013/14: £59,875

(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: 

The entire property is for sale at £2,995,000 or to let at £170,000 per annum exclusive. Alternatively the ground floor only is for sale at £1,750,000 or to let at a rental of £95,000 per annum exclusive.

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