55 / 57 Abington Street Northampton Northamptonshire NN1 2AW

55 / 57 Abington Street
Northampton
Northamptonshire
NN1 2AW

Freehold Retail Investment

Entirely let to 99p Stores Limited until 2024 (no breaks)
Situated on prime pedestrianised retail thoroughfare
Nearby occupiers include H&M, Marks & Spencer, Greggs and The Co-operative Bank
Large approximate area of 2,059.13 sq m (22,165 sq ft)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
44
Auction
23rd March 2016
Rent
£160,000 per Annum Exclusive
Status
Sold
Price
£1,910,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Retail Investment

Entirely let to 99p Stores Limited until 2024 (no breaks)
Situated on prime pedestrianised retail thoroughfare
Nearby occupiers include H&M, Marks & Spencer, Greggs and The Co-operative Bank
Large approximate area of 2,059.13 sq m (22,165 sq ft)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 44
Auction 23rd March 2016
Rent £160,000 per Annum Exclusive
Status Sold
Price £1,910,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 17 miles north of Milton Keynes, 31 miles south of Leicester, 50 miles south-east of Birmingham
Roads: A428, A508, A14, M1
Rail: Northampton Rail
Air: Birmingham International, London Luton

Situation

The property is situated in the heart of the town centre on the northern side of the pedestrianised Abington Street, Northampton’s prime retail thoroughfare. The property is situated a short distance from both the Newland Walk and Market Walk Shopping Centres and backs onto Wellington Street Car Park. Nearby occupiers include H&M, Marks & Spencer, Greggs and The Cooperative Bank.

Tenure

Freehold.

Location

Miles: 17 miles north of Milton Keynes, 31 miles south of Leicester, 50 miles south-east of Birmingham
Roads: A428, A508, A14, M1
Rail: Northampton Rail
Air: Birmingham International, London Luton

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with ancillary accommodation on first to third floors.

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

The property comprises a ground floor retail unit with ancillary accommodation on first to third floors.

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.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First Second Third	Retail Ancillary Ancillary Ancillary	800.80 sq m 538.35 sq m 612.22 sq m 107.76 sq m	(8,620 sq ft) (5,795 sq ft) (6,590 sq ft) (1,160 sq ft)	99p STORES LIMITED (1)	10 years from 22/07/2014 until 21/07/2024 on a full repairing and insuring lease (3)	£160,000	22/07/2019 (2)
Totals		2,059.13 sq m	(22,165 sq ft)			£160,000 rising to a minimum of £175,000 in July 2019 (2)

(1) Started in 2001, 99p Stores is the UK’s second largest single price point retailer, with over 250 stores nationwide and 2 million customers every week. (Source: www.99pstoresltd.com 25/02/2016).
(2) As to the 2019 review, the lease provides for the rent to be reviewed to open market value, subject to a minimum of £175,000 in 22/07/2019 and a maximum of £184,000.
(3) The tenant is not liable to repair the boiler unless the tenant puts it to use.