Market Walk Shopping Centre Northampton Northamptonshire NN1 2DP

  • Market Walk Shopping Centre<br>Northampton<br>Northamptonshire<br>NN1 2DP

Market Walk Shopping Centre
Northampton
Northamptonshire
NN1 2DP

Freehold Shopping Centre Investment

  • Includes 25 units
  • Approximately 6,148.08 sq m (66,188 sq ft)
  • Prominent town centre location
  • Active management potential
  • Neighbouring occupiers include Marks & Spencer, New Look, Boots, Primark, WH Smith, River Island and Starbucks
  • Lot
    75
  • Auction
    24th May 2018
  • Rent
    £111,400 per Annum Exclusive
  • Status
    Sold
  • Price
    £695,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Shopping Centre Investment

  • Includes 25 units
  • Approximately 6,148.08 sq m (66,188 sq ft)
  • Prominent town centre location
  • Active management potential
  • Neighbouring occupiers include Marks & Spencer, New Look, Boots, Primark, WH Smith, River Island and Starbucks
  • Lot 75
  • Auction 24th May 2018
  • Rent £111,400 per Annum Exclusive
  • Status Sold
  • Price £695,000
  • Sector
    Shopping Centre
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

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
Situation

The property is prominently located in the town centre, between the east side of Market Square and the north side of the prime pedestrianised Abington Street. Neighbouring occupiers include Marks & Spencer, New Look, Boots, Primark, WH Smith, River Island and Starbucks.

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
Situation

The property is prominently located in the town centre, between the east side of Market Square and the north side of the prime pedestrianised Abington Street. Neighbouring occupiers include Marks & Spencer, New Look, Boots, Primark, WH Smith, River Island and Starbucks.

Tenure

Freehold.

Description

The property comprises a major indoor shopping centre with some 25 retail units, equating to approximately 66,188 sq ft of retail accommodation.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a major indoor shopping centre with some 25 retail units, equating to approximately 66,188 sq ft of retail accommodation.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Unit Floor Areas (Approx) Tenant Term Rent Review/
(Reversion)
Unit 2
71.35 sq m
(768 sq ft)
PVP LIMITED
t/a Lucci Leather
Tenancy at Will Peppercorn (1)  
Unit 3B
193.60 sq m
(2084 sq ft)
INDIVIDUALS
t/a Zara Health &
Beauty
10 years from
01/11/2013 until
31/10/2023
£21,000 01/11/2018/
(31/10/2023)
(2)
Unit 4
437.56 sq m
(4,710 sq ft)
BURTON/DP
PROPERTIES LTD
t/a Dorothy Perkins
3 years from
25/03/2016
Peppercorn (9) (24/03/2019)
Unit 8
72.09 sq m
(776 sq ft)
BITA GIFTS LIMITED Approx. 3 years from
07/09/2017
£7,000 (3) (14/06/2020)
Unit 11
590.85 sq m
(6,360 sq ft)
VERSATILE
INTERNATIONAL
TRADING LIMITED
t/a Greenwoods
Tenancy at Will NIL (4)  
Unit 12
415.45 sq m
(4,472 sq ft)
CYNTHIA SPENCER
HOSPICE VENTURES
LIMITED
3 years from
22/11/2016
Peppercorn (21/11/2019)
(5)
Unit 15
196.48 sq m
(2,115 sq ft)
GRAPHITE
HOLDINGS LIMITED
10 years from
25/03/2010
£25,000 (24/12/2020)
Unit 16
51.93 sq m
(559 sq ft)
FITNESS INC
NORTHAMPTON
LIMITED
5 years from
29/08/2013
£7,000 (28/08/2018)
Unit 16A
123.93 sq m
(1334 sq ft)
INDIVIDUALS
t/a
Bohemian Finds
3 years from
27/04/2017
£5,400 (10) (26/04/2020)
Unit 16B
114.55 sq m
(1,233 sq ft)
LE SHOP LIMITED
t/a
Phone Box
5 years from
26/03/2015
£15,000 (11) (25/03/2020)
Unit 17
13.66 sq m
(147 sq ft)
INDIVIDUAL
t/a
Just Stitch
10 years from
11/11/2011
£12,000 (10/11/2021)
Unit 18
64.10 sq m
(690 sq ft)
INDIVIDUAL
t/a
Perkins Flower Garden
5 years from
27/08/2014
£6,000 (26/08/2019)
(6)
Unit 19A
32.61 sq m
(351 sq ft)
INDIVIDUAL
t/a
Die Cast and More
2 years from
13/04/2017
£3,000 (7) (12/04/2019)
Unit 19B
37.25 sq m
(401 sq ft)
JUST4MEN
BARBERS LTD
5 years from
04/04/2014
£10,000 (03/04/2019)
(8)
Unit 21
487.91 sq m
(5,252 sq ft)
EVANS RETAIL
PROPERTIES LTD
t/a
Evans
3 years from
25/03/2016
Peppercorn (9)
(12)
24/03/2019
Units 1, 3A,
5, 6, 9, 10,
13, 14, 20, 22 & 23
3,244.76 sq m
(34,936 sq ft)
VACANT
POSSESSION
     
Total
6,148.08 sq m
(66,188 sq ft)
    £111,400  

(1) As to unit 2, the tenant is paying £3,120 per annum inclusive of service charge and insurance. The tenant has occupied the unit on a lease from 17/09/2013 until 16/09/2014.
(2) As to unit 3B, the lease provides for a rolling landlord’s option to determine, subject to a minimum of 6 months’ notice.
(3) As to unit 8, the rent is inclusive of service charge.
(4) As to unit 11, the tenant is occupying as a Tenant at Will on a nil contribution basis, following the surrender of previous lease to Greenwoods Menswear Limited, which is in administration. The lease is subject to a schedule of condition.
(5) As to unit 12, the service charge contributions are as follows: Y1 - £10,000; Y2 - £11,533.75; Y3 - £13,067.50. The lease is subject to a
schedule of condition.
(6) As to unit 18, there is a mutual rolling option to determine on a minimum of 3 months’ notice.
(7) As to unit 19A, the rent is £3,000 per annum exclusive until 12/09/18 (Rent commencement date: 13/04/2018); £3,600 per annum exclusive from 13/09/18 until the end of the term.
(8) As to unit 19B, there is a mutual rolling option to determine on a minimum of 3 months’ notice.
(9) As to unit 4 and unit 21 , the lease provides for no service charge contribution by the tenant.
(10) As to unit 16A, the tenant is not required to make a contribution to service charge.
(11) As to unit 16B, the lease is subject to a schedule of condition.
(12) As to unit 21, the tenant has served notice to determine the lease on 30/06/2018.

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Harold Benjamin Solicitors Hill House, 67-71 Lowlands Road
Harrow
Middlesex
HA1 3EQ
020 8864 7530
Varsha Sood 020 8872 3028varsha.sood@haroldbenjamin.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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