7A & 9 Abington Street Northampton Northamptonshire NN1 2AN

7A & 9 Abington Street
Northampton
Northamptonshire
NN1 2AN

Freehold Retail Investment

Let to Moss Bros Group Plc
Busy town centre location on prime pedestrianised retailing thoroughfare
Close to Market Walk and Grosvenor Shopping Centres
Nearby occupiers include Topshop/Topman, River Island, Waterstones, Superdrug, Costa and Caffè Nero
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
5
Auction
23rd March 2016
Rent
£50,000 per Annum Exclusive
Status
Sold
Price
£565,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Retail Investment

Let to Moss Bros Group Plc
Busy town centre location on prime pedestrianised retailing thoroughfare
Close to Market Walk and Grosvenor Shopping Centres
Nearby occupiers include Topshop/Topman, River Island, Waterstones, Superdrug, Costa and Caffè Nero
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 5
Auction 23rd March 2016
Rent £50,000 per Annum Exclusive
Status Sold
Price £565,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 17 miles north-west of Milton Keynes, 50 miles south-east of Birmingham, 66 miles north-west of Central London
Roads: A43, A45, A428, A508, M1 (Junction 15A)
Rail: Northampton Railway Station
Air: Birmingham International Airport, London Luton Airport, London Stansted Airport

Situation

The property is prominently situated in Northampton town centre on the north side of Abington Street, the town’s pedestrianised retail thoroughfare. The property is adjacent to Market Walk Shopping Centre and close to the Grosvenor Shopping Centre, with other nearby occupiers including Topshop/Topman, River Island, Waterstones, Superdrug, Costa and Caffè Nero.

Tenure

Freehold.

Location

Miles: 17 miles north-west of Milton Keynes, 50 miles south-east of Birmingham, 66 miles north-west of Central London
Roads: A43, A45, A428, A508, M1 (Junction 15A)
Rail: Northampton Railway Station
Air: Birmingham International Airport, London Luton Airport, London Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation with additional retail and ancillary accommodation on the first floor. The second floor is not demised to Moss Bros Group Plc and is accessed by a ladder only.

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	Reviews
Ground & First	Retail/ Ancillary	482.90 sq m	(5,198 sq ft)	MOSS BROS GROUP PLC (1)	10 years from 23/09/2013 until 22/09/2023 on a full repairing and insuring lease (2) (3)	£50,000	23/09/2018
Second	Ancillary	Not measured (restricted access)
Totals		482.90 sq m	(5,198 sq ft)			£50,000

(1) For the year ending 25/01/2015, Moss Bros Group Plc reported a turnover of £114,728,000, pre-tax profits of £4,824,000 and a total net worth of £35,475,000. (Source: Experian Group 17/02/2016).
(2) The lease provides for a tenant option to determine on 23rd September 2018, on providing 6 months’ prior notice.
(3) The lease is subject to a schedule of condition.