7 Abington Street Northampton NN1 2AN

  • 7 Abington Street<br>Northampton<br>NN1 2AN

7 Abington Street
Northampton
NN1 2AN

Freehold Retail Investment

  • Entirely let to Baleday Ltd (t/a Cashino) until November 2025 (no breaks)
  • Nearby occupiers include Nando’s, Burger King, HSBC, Superdrug and River Island
  • Busy town centre location on prime pedestrianised retailing thoroughfare
  • Close to the Grosvenor Shopping Centre and Market Square
  • Lot
    18
  • Auction
    9th July 2014
  • Rent
    £91,399 per Annum Exclusive
  • Status
    Sold
  • Price
    £825,000
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Joint LPA Receivers
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Freehold Retail Investment

  • Entirely let to Baleday Ltd (t/a Cashino) until November 2025 (no breaks)
  • Nearby occupiers include Nando’s, Burger King, HSBC, Superdrug and River Island
  • Busy town centre location on prime pedestrianised retailing thoroughfare
  • Close to the Grosvenor Shopping Centre and Market Square
  • Lot 18
  • Auction 9th July 2014
  • Rent £91,399 per Annum Exclusive
  • Status Sold
  • Price £825,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Joint LPA Receivers

Property Information

Location
Miles
19.5 miles north of Milton Keynes, 57 miles south-east of Birmingham, 67 miles north-west of Central London
Roads
A508, A43, M1
Rail
Northampton Rail Station
Air
Luton Airport
Situation

The property is prominently situated in Northampton town centre on the northern side of Abington Street, a prime pedestrianised retailing thoroughfare. The property is within close proximity to the Grosvenor Shopping Centre and Market Square with other nearby occupiers including Nando’s, Burger King, HSBC, Superdrug and River Island.

Tenure

Freehold.

Location
Miles
19.5 miles north of Milton Keynes, 57 miles south-east of Birmingham, 67 miles north-west of Central London
Roads
A508, A43, M1
Rail
Northampton Rail Station
Air
Luton Airport
Situation

The property is prominently situated in Northampton town centre on the northern side of Abington Street, a prime pedestrianised retailing thoroughfare. The property is within close proximity to the Grosvenor Shopping Centre and Market Square with other nearby occupiers including Nando’s, Burger King, HSBC, Superdrug and River Island.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with an additional self-contained retail unit on the first floor.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

6 Week Completion

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor retail unit with an additional self-contained retail unit on the first floor.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

6 Week Completion

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Ground
First
Second		 Retail
Retail
Ancillary (4)
192.51 sq m
110.16 sq m
Not Measured
(2,072 sq ft)
(1,186 sq ft)
Not Measured
 BALEDAY LIMITED (1)
(t/a Cashino) (2)		 13 years and 5 months from 01/07/2012 until 30/11/2025 on a full repairing and insuring lease £91,399 (3) 01/12/2015 and
01/12/2020
Totals
302.67 sq m
(3,258 sq ft)
     £91,399 (3)

(1) Baleday Limited is a wholly owned subsidiary of Praesepe Holdings Limited. Praesepe is the UK’s largest chain of adult gaming centres operating from a total of 170 adult gaming centres, bingo clubs and family entertainment centres in 100 towns and cities throughout Great Britain. (Source: www.cashinogaming.com 05/06/2014)
(2) The tenant has sublet the first floor retail unit.
(3) For the purposes of clarification, the current rent is £80,000 p.a.x. rising to £91,399 p.a.x. in December 2015 and £104,422 p.a.x. in
December 2020. The seller has agreed to adjust the completion monies so that the property effectively produces £91,399 p.a.x. from completion of the sale.
(4) Please note that the second floor has low head height and can only be accessed by step ladder via first floor.

Contacts

Seller's Solicitors
Wedlake Bell Solicitors 52 Bedford Row
London
WC1R 4LR
Naushin Malik 020 7406 1679nmalik@wedlakebell.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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