Oriel House, 55-57 Sheep Street Northampton Northamptonshire NN1 2NE

Oriel House, 55-57 Sheep Street
Northampton
Northamptonshire
NN1 2NE

Freehold Office Investment

Entirely let to Prime Time Recruitment Limited
Future Residential Development Potential (subject to consents)
Approximately 932.97 sq m (10,042 sq ft)
Approximate site area of 0.10 hectares (0.25 acres)
Town Centre Location
On-site parking provisions for some 16 cars

Lot
13
Auction
11th December 2014
Rent
£90,000 per Annum Exclusive
Status
Sold
Price
£630,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of a Major Fund

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Freehold Office Investment

Entirely let to Prime Time Recruitment Limited
Future Residential Development Potential (subject to consents)
Approximately 932.97 sq m (10,042 sq ft)
Approximate site area of 0.10 hectares (0.25 acres)
Town Centre Location
On-site parking provisions for some 16 cars

Lot 13
Auction 11th December 2014
Rent £90,000 per Annum Exclusive
Status Sold
Price £630,000
Sector
Office
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of a Major Fund

Property Information

Location

Miles: 21 miles north-west of Milton Keynes; 35 miles south-east of Leicester; 55 miles south-east of Birmingham
Roads: A14, A45, M1 (3 miles to Junction 15), M6
Rail: Northampton Railway Station (direct to London Euston c. 60 mins)
Air: London Luton Airport, Midlands Airport

Situation

The property is located on the west side of Sheep Street in close proximity to the town centre’s retailing and leisure facilities and within walking distance of both the train station and bus station.

Tenure

Freehold.

Location

Miles: 21 miles north-west of Milton Keynes; 35 miles south-east of Leicester; 55 miles south-east of Birmingham
Roads: A14, A45, M1 (3 miles to Junction 15), M6
Rail: Northampton Railway Station (direct to London Euston c. 60 mins)
Air: London Luton Airport, Midlands Airport

Situation

Tenure

Freehold.

Description

The offices were constructed behind the original Grade II Listed façade in the 1980s and are arranged over lower ground, ground and three upper floors. The property benefits from perimeter trunking, suspended ceilings, air conditioning (tenant’s improvement) and an 8-person passenger lift. There is a small self-contained building to the rear of the site which is used for storage purposes. There is parking to the rear accessed via a shared entrance on Sheep Street.

Six 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

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	Reversion
Lower Ground Ground First Second Third Ground First	Office Office Office Office Storage External Storage External Storage	128.03 sq m 227.86 sq m 232.29 sq m 226.87 sq m 70.41 sq m 31.20 sq m 16.30 sq m	(1,378 sq ft) (2,453 sq ft) (2,500 sq ft) (2,442 sq ft) (758 sq ft) (336 sq ft) (175 sq ft)	PRIME TIME RECRUITMENT LIMITED (1)	10 years from 29/09/2005 on a full repairing and insuring lease (2)	£90,000	28/09/2015
Totals		932.96 sq m	(10,042 sq ft)			£90,000

(1) For the year ending 30th June 2013, Prime Time Recruitment Limited reported a turnover of £202,698,592, pre-tax profits of £1,717,070 and a total net worth of £21,435,872. (Source: www.riskdisk.com 6th November 2014) Prime Time Recruitment was launched in February 1992 with six branches – Northampton, St. Albans, Reading, Croydon, Birmingham and Manchester. This was reported as the largest launch of an independent employment agency, and they have since established a national network of branches (100 branches – 60 locations). Prime Time was aquired by the Cordant Group PLC in 2007. Cordant Group is one of the largest privately owned employment agencies in the UK. (Source: www.primetime.co.uk)
(2)The lease is subject to a schedule of condition.