Commercial Property - Investment - INCOME PRODUCING INVESTMENT FOR SALE
The property is located on Wilberforce Street which links Wellingborough Road and St Edmunds Road. Wellingborough Road is a main entrance way into Northampton Town Centre with a variety of different shops and heavy footfall. There is free parking on St Edmunds Road and in the vicinity. The property is a 7 minute drive to Northampton Train station and only an 8 minute walk to St Michaels Multi-Story car park.
The property comprises of a two-storey business unit of rendered traditional brick construction underneath a pitched slate roof. The entrance is to the front gable end and has the benefit of a roller shutter which was installed by the current tenant. The property benefits from double-glazing set within uPVC casements throughout. The unit has a reception area, ground floor work room, kitchen/utility room, W.C and an open plan first floor area. It is heated by gas fired central heating.
Lease commencement date - 21st February 2017
Rent - £7,200 per annum exclusive
Lease Term - 10 years
Deposit - 2 months (£1,200)
Break option -Tenant only: - 4th Anniversary of the term and 7th anniversary of the term - Subject to 3 months prior written notice
Rent review - 3 yearly (upward only)
Landlord and Tenant Act 1954 - Outside
Use - Tattoo parlour (sui generis)
Planning application ref: N/2016/1403
VAT on rent - Not applicable
| Ground Floor | 27.3 sq m | (294 sq ft) |
| First Floor | 223.5 sq m | (253 sq ft) |
| TOTAL NET INTERNAL AREA | 50.8 sq m | (547 sq ft) |
| Rateable Value: | £2,375 |
| Rates Payable 2019/20: | £1,166.13 |
(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.
Available subject to the existing occupational lease at an asking price of £105,000 exclusive.
All figures quoted are exclusive of any VAT that the 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
