Commercial Property - Investment - INCOME PRODUCING INVESTMENT WITH VACANT UPPER PARTS
Northampton is one of England’s 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.
Northampton currently has an Enterprise Zone status which aims to support both new and expanding businesses by offering incentives.
The property is located on Kingsley Park Terrace a busy secondary retail location, approximately one mile east of Northampton town centre and three miles east of junction 15 of the M1 motorway. The Kettering Road (A508) is the major arterial road linking Northampton and Kettering. Nearby occupiers include Tesco Express, Pizza Hut Delivery and Betfred
The property is of traditional brick construction. It has a large glazed frontage. The property comprises of sales area at the front, storage/staff area at the rear and basement storage. There is also a shared car park with the office tenant above which can be used for both parking and loading.
Ground floor and basement
Tenant Qavi Ullah
Lease term 5 years from 28th March 2020
Rent Stepped rental:
Year 1 - £11,000 per annum exclusive
Year 2 - £12,500 per annum exclusive
Repairing obligations Full Repairing and Insuring
Use Retail (Greengrocers)
Security of Tenure Outside the security of tenure provisions of the
Landlord & Tenant Act 1954
Rent review Upward only rent review 28th March 2023 (time
is not of the essence)
| Commercial Net Internal area | 68.4 sq. m | 736 sq. ft |
| Upper floors Net Internal Area | 56.1 sq. m | 604 sq. ft |
Ground floor and basement (tenants responsibility)
Rateable Value: £ 8,400
Rates Payable 2022/2023: £ 4,124.40
Qualifying small businesses may be eligible for 100% small business rates relief
First and second floor (currently vacant)
Rateable Value: £ 3,200
Rates Payable 2022/2023: £ 1,571.20
Qualifying small businesses may be eligible for 100% small business rates relief
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 West
Northamptonshire Council Rating Department on (0300 126 7000).
The property is available to purchase subject to the existing occupational tenancy at an asking price of £250,000 exclusive
All figures quoted are exclusive of any VAT that the vendor may have a duty or choose to impose.
Each party shall bear their own legal costs involved in the transaction.
Strictly by appointment through the Sole Agents: HADLAND CHARTERED SURVEYORS TEL: 01604 639657
