Commercial Property - Investment - INDUSTRIAL INVESTMENT
With a population in excess of 220,000, Northampton is one of the UK’s largest towns. It is an established industrial centre, being strategically located at the heart of the “golden triangle” with M1 motorway access at Junctions 15, 15A and 16. Northampton railway station provides regular direct train services to London Euston and Birmingham New Street with journey times of 46 minutes and 1 hour respectively.
Upper Priory Street is located on the Grafton Street Industrial Estate just off the A428 Grafton Street on Northampton’s inner ring road system. Northampton town centre is approximately 0.75 miles away and the M1 Motorway 5 miles.
Comprising an end of terrace industrial unit within a small courtyard development constructed in the early 1980’s. The unit offers clear space and minimum head room of 4.5 metres to eaves. The unit also benefits from a single roller shutter door and 2 allocated parking spaces within the walled courtyard. Due to a restricted supply of small industrial units in Northampton, particularly with easy access to the town centre, occupier demand is high.
| Tenant | Lease Start | Lease Expiry | Rent (pa) | Repairs | Notes |
|
Barakah Healthcare Ltd |
16/11/2020 | 15/11/2030 | £14,000 |
Tenant’s Responsibility |
10-year lease 3 yearly upward only rent reviews Tenant has missed their break option (Inside L&T Act) |
The tenant has not exercised their break option (dated 16th November 2023).
The lease has 3 yearly upwards only rent reviews. The November 2023 rent review was settled at £14,000
per annum exclusive (the initial rent for the lease was £13,000 per annum exclusive).
The rent settled at review could be deemed as reversionary, providing scope for rental uplift at the next
review (November 2026) – prospective purchasers will need to take independent advice on this and satisfy
themselves on any potential rent increases.
Gross Internal Area: 125 sq. m (1,345 sq. ft)
Tenants responsibility
The long leasehold interest is available to purchase at an asking price of £185,000 exclusive. A service charge as a contribution to the upkeep of common areas is payable and is passed onto the occupier. The purchaser will also be transferred a share of the management company.
All figures quoted are exclusive of any VAT that the vendor/landlord 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
