81/83 Harborough Road, Northampton, Northamptonshire, NN2 7SL

Lot Image

Auction sale - Monday 11th December 2017

Result:

Sold Prior to auction, for an undisclosed amount

  • Freehold retail/residential investment
  • Three retail units and two x 2 bedroom flats
  • Asset management opportunity
  • In the same family ownership for 30 years
  • Current rent £41,690 per annum plus one vacant flat

Viewings

Thursday 7 December at 11:00am

Details

Location

Miles: Milton Keynes 17 miles, Rugby 20 miles, Birmingham 50 miles, London 66 miles
Roads: A43, A45, A428, M1 (junctions 15A & 16)
Rail: Northampton
Nearby Occupiers: Waitrose, Lloyds, Nationwide

Description

The property comprises a substantial building of traditional construction arranged as three ground floor retail units (No.83 includes the first floor above) and two self contained two bedroom flats over the first and second floors that are accessed from the street at the front of the property.

The property is situated on the east side of Harborough Road, close to the junction with Bective Road.

Tenure

Freehold

VAT

Refer to the legal documentation

Energy Performance Certificate

See website

Address Tenant Floor Use Sq M Sq F Lease Terms Rent £ pa Rent Review
81 Harborough Road Your-Move.co.uk Limited (1) Ground Retail/storage 29.90 322 Lease expiring 30/11/2013 £8,500 01/12/2018
81A Harborough Road Paul Garry Bastiani (t/a Heavan) (2) Ground Retail/kitchen 28.20 304 Lease expiring 09/05/2013 £8,750 10/05/2016
81B Harborough Road Individuals First Residential Two bedroom flat 6 month AST from 27/01/2017 £5,940
81C Harborough Road Vacant Second Residential Two bedroom flat Vacant
83 Harborough Road The British Red Cross Society (3) Ground First Retail/storage Kitchen/ancillary 96.00 4.70 1,033 50.59 Lease expiring 31/07/2024 £18,500 01/08/2019
The areas have been taken from the VOA website.
(1) The property has been underlet to Hobin Roberts Limited. The Landlord is in the process of agreeing a new 10 year lease with the tenant from the expiry date of the current lease.
(2) The lease has been assigned to the tenant. The 2016 rent review remains outstanding. The Landlord is in the process of agreeing a new 7 year lease with the tenant from the expiry date of the current lease.
(3) There is a tenant's break on 31/07/2019.

Contact

Seller's solicitor

Wright Hassall LLP

Terry Dickson

01926 883058

terry.dickson@wrighthassall.co.uk

* Guide price

The guide price is an indication of the minimum price at which, or if a guide price range is given, within which, the seller is prepared to sell at the date of publication. The guide price is not an anticipated sale price or valuation. All prices quoted are subject to contract.

* Reserve price

The reserve price is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell.

Both the guide and reserve may be subject to change up to and including the day of the auction. The guide price does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price. On the fall of the hammer a buyer’s fee is payable of £990 inclusive of VAT.

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