Section 26 notice served by the subtenant requesting a new lease (2)
Close to Marks & Spencer, WHSmith, Next, Superdry, Superdrug and Boots the Chemist
Excellent trading location in pedestrianised Market Square
VAT-free investment
Lot 38
Auction 26th March 2020
Rent £76,000 per Annum Exclusive
Status Sold
Price
Sector Restaurant
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
Property Information
Location
Miles
17 miles north-west of Milton Keynes
66 miles north-west of Central London
Roads
A43, A45, A428, A508, M1 (Junction 15A)
Rail
Northampton Railway Station
Air
London Luton Airport
Situation
The property is located in an excellent trading location on the eastern side of Market Square, almost adjacent to the entrance of Market Walk Shopping Centre, in the heart of the town centre. The Grosvenor Shopping Centre is a short walk away housing occupiers including Primark, Sainsbury's, Topman, WHSmith, Next, Superdry, Superdrug, Boots the Chemist, Costa and McDonald's. Other nearby occupiers include Marks & Spencer, Tesco Metro, H&M, Nando's, Prezzo, ASK Italian and JD Wetherspoon.
Tenure
Freehold.
Location
Miles
17 miles north-west of Milton Keynes
66 miles north-west of Central London
Roads
A43, A45, A428, A508, M1 (Junction 15A)
Rail
Northampton Railway Station
Air
London Luton Airport
Situation
The property is located in an excellent trading location on the eastern side of Market Square, almost adjacent to the entrance of Market Walk Shopping Centre, in the heart of the town centre. The Grosvenor Shopping Centre is a short walk away housing occupiers including Primark, Sainsbury's, Topman, WHSmith, Next, Superdry, Superdrug, Boots the Chemist, Costa and McDonald's. Other nearby occupiers include Marks & Spencer, Tesco Metro, H&M, Nando's, Prezzo, ASK Italian and JD Wetherspoon.
Tenure
Freehold.
Description
The property comprises a ground floor restaurant with ancillary accommodation at basement and first floors.
VAT
VAT is not applicable to this lot.
EPC
Band F. Available at acuitus.co.uk
Description
The property comprises a ground floor restaurant with ancillary accommodation at basement and first floors.
VAT
VAT is not applicable to this lot.
EPC
Band F. Available at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Reversion
Ground Basement First
Restaurant/Ancillary Ancillary Ancillary
274.05 sq m 52.02 sq m 56.20 sq m
(2,950 sq ft) (560 sq ft) (605 sq ft)
BURGERKING LIMITED t/a Burger King (1)
35 years from 29/09/1985 on a full repairing and insuring lease
£76,000
28/09/2020 (2)
Total
382.27 sq m
(4,115 sq ft)
£76,000
(1) Founded in 1954, Burger King is the second largest hamburger chain in the world. The Burger King system operates more than 17,800 locations in more than 100 countries and U.S. territories. Almost 100 per cent of Burger King restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades (Source: https://www.bk.com/about-bk / www.rbi.com 26/02/2020). The property is sublet to a Burger King franchisee. (2) The subtenant has served a Section 26 notice on the vendor, dated 18th February 2020, requesting a new lease. Please see legal pack for further details.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Contacts
Seller's Solicitors
Warners Solicitors Bank House, Bank Street Tonbridge Kent TN9 1BL
