6A & 6B Abington Street Northampton Northamptonshire NN1 2AJ

6A & 6B Abington Street
Northampton
Northamptonshire
NN1 2AJ

Freehold Retail and Office Investment

Comprises two retail units with self-contained office accommodation on the upper floors
6A let to Nero Holdings Limited t/a Caffè Nero
Busy town centre location on major retailing thoroughfare
Nearby occupiers include Marks & Spencer, Waterstones, Holland & Barrett, Moss Menswear, River
Island and Costa
Residential redevelopment potential of upper floors (subject to consents)

Lot
4
Auction
19th October 2017
Rent
£80,000 per Annum Exclusive
Status
Sold
Price
£1,030,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Insolvency Practitioners at Deloitte

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Freehold Retail and Office Investment

Comprises two retail units with self-contained office accommodation on the upper floors
6A let to Nero Holdings Limited t/a Caffè Nero
Busy town centre location on major retailing thoroughfare
Nearby occupiers include Marks & Spencer, Waterstones, Holland & Barrett, Moss Menswear, River
Island and Costa
Residential redevelopment potential of upper floors (subject to consents)

Lot 4
Auction 19th October 2017
Rent £80,000 per Annum Exclusive
Status Sold
Price £1,030,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Insolvency Practitioners at Deloitte

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 Airport, London Luton Airport, London Stansted Airport

Situation

The property is prominently situated in Northampton town centre on the south side of Abington Street, the town’s pedestrianised retail thoroughfare, at its junction with Dychurch Lane. The Market Walk and Grosvenor Shopping Centres are located close by, with other nearby occupiers including Marks & Spencer, Waterstones, Holland & Barrett, Moss Menswear, River Island and Costa.

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 Airport, London Luton Airport, London Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises two retail units arranged over ground and basement with self-contained office accommodation on the first and second floors, accessed via Dychurch Lane. The first and second floors may be suitable for residential redevelopment (subject to consents).

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Note

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
6A	Ground Basement	Retail/ Ancillary Ancillary	140.00 sq m 90.95 sq m	(1,507 sq ft) (979 sq ft)	NERO HOLDINGS LIMITED (1)	5 years from 20/11/2014	£50,000	(19/11/2019)
6B	Ground Basement	Retail/ Ancillary Ancillary	98.93 sq m 70.80 sq m	(1,065 sq ft) (762 sq ft)	INDIVIDUAL to trade as Styles of London	10 years from the date of completion (2)	£30,000 (2)	5th anniversary (10 years from the date of completion)
6A/6B	First Second	Office/ Ancillary Office/ Ancillary	253.99 sq m 252.97 sq m	(2,734 sq ft) (2,723 sq ft)	VACANT
Total			907.64 sq m	(9,770 sq ft)			£80,000

(1) For the year ending 31st May 2016, Nero Holdings Limited reported a turnover of £248,761,000, pre-tax profits of £24,237,000 and a total net worth of £191,791,000 (Source: Experian Group 01/09/2017).
(2) The lease has been agreed and is in solicitors’ hands due to complete imminently. On completion of the lease, the tenant will commence their fit-out works. The lease provides for a tenant option to determine on the 5th anniversary of the term. The tenant is to benefit from a four month rent free period from the date of completion. The seller has agreed to adjust the completion monies so that the unit will produce £30,000 p.a.x. from completion of the sale.