Commercial Property - Development - Investment/Development opportunity

5 residential units with planning permission granted for an additional two units on the ground floor
Significant redevelopment in the vicinity
Located on the fringe of Northampton Town Centre
Exisiting residential units currently fully let
Scope for reconfiguration
AVAILABLE TO PURCHASE WITH THE EXISITING OCCUPATIONAL TENANCIES AT AN ASKING PRICE OF £650,000 EXCLUSIVE
Location: 

The subject property is located on Overstone Road which is on the fringe of Northampton Town Centre, it is a large residential and commercial location and falls within the Northampton Boot and Shoe Conservation Area.

There is significant redevelopment in the area including the conversion of the former Hawkins Boot and Shoe factory to 89 flats and studios. Further development is underway nearby.

Northampton is one of England’s fastest growing towns with a present population of 225,000 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.

Description: 

The subject property comprises a former Victorian factory/warehouse, with 5 residential units above (consisting of a mixture of bedsits, flats and studios). 75 Overstone Road is three storeys with basement accommodation and 77 Overstone Road is two storeys with basement accommodation.

They are both of traditional brick construction underneath a pitched tiled roof, with flat roofs in sections (currently used as 'roof terraces'). The ground floor was most recently used as a kitchen showroom/workshop.

The residential units have been refurbished to a high standard. The units benefit from double-glazed windows and heating is provided via electric radiators.

Planning permission has recently been granted for the conversion of the ground floor workshop to 2 x 1 bedroom self-contained apartments with courtyard gardens with alterations required. Planning ref: 2024/0589/FULL.

Accommodation: 

Area: 360.9 sq. m (3,885 sq. ft)

 

Rates: 
Rateable Value: £TBC
Rates Payable 2024/25: £TBC

(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: 

Available to purchase subject to the existing occupational tenancies at an asking price of £650,000 exclusive

VAT: 

All figures quoted are exclusive of any VAT that the landlord may have a duty or choose to impose.

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: 
Overstone Road