Commercial Property
A three storey semi-detached concrete frame building that is set out with ground floor frontage to Gold Street and College Street, offered with three tenants in situ with current rent passing of £44,400 per annum, extending circa 387sq.m (4,154sq.ft).
Access to the first and second floor is via the entrance from College Street with
a staircase leading to both floors. The office are self contained with a male and female
WCs with a suspended ceilings set florescent lighting and heated via electric.
The ground floor and basement were originally let at a rent of £22,000 pax on effectively FRI Terms expiring 27th December 2027.
The first floor is let at a current rent of £11,400 pax rising years 2 and 3 £12,400 pax, then to £13,400 pax end years 4 and 5, £14,400 pax end year 6 and 7 £15,400 pax end years 8 and 9 and finally £16,400 pax end year 10. Lease on effectively FRI Terms expiring on 30th April 2034 with a Landlord break clause on the 1st May 2027 and 2030.
The second floor is let at a rent of £10,000 pax on effectively FRI terms expiring on the 20th September 2027 with a rent review on the 1st October 2025.
The property is currently being used for retail/food and takeaway use with the most
recent planning application relating to references N/2020/1612 being the approval of various conditions of planning /2017/0543 (full planning application for a flexible change of use to allow the premises to be used for a combined delicatessens/ Café/ Takeaway/Suigenris (shop) use class A1 now proceeding as new class E(a,b,c) including installation of Kitchen extract system on rear elevation.
Any prospective purchasers should make their own inquiries by contacting West Northamptonshire Council planning department on 0300 1267000.
Northampton is a town located in the East Midlands. It is situated approximately 60 Miles Northwest London. 50 miles South East of Birmingham. Northampton is the county
town with Junction 15, 15a and 16 of the M1 and excellent links. Additionally both A45 and A43 links to the town with the other major county towns and the A14 is close proximity to North inking the East and West. Northampton Railway station is on the Northamptonshire loop of the West Coast mainline and has services Southbound to London Euston and Northbound to Birmingham.
The property is situated fronting the corner of Gold Street and College Street within the centre of Northampton surrounded.
The property has all main services connected or available including mains, water, foul and surface water drainage, gas and electricity. The water is sub metered to the tenants paid by the landlord and recharged, electricity is independently metered and gas is not currently connected. These have not been tested and are not warranted to be in working order.
Conservation Area: All Saints.
Interested parties are advised to inspect the legal pack for more information.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
We are advised that VAT is applicable. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT).
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
