Mixed-Use Freehold Investment – Abington St, Northampton

We are pleased to bring to market this  excellent commercial investment unit in Northampton. For sale is the freehold of a prominent building situated in the heart of Abington Street, which is the main link road between the town centre and Market Square, thereby benefiting from substantial vehicle and pedestrian traffic.

The building is 3 stories, with the uppers (comprising 10 residential flats) and one commercial unit (No 88) on the ground floor sold off on a long lease (999 years from 2022).

The main ground floor unit has substantial glass window frontage on to Abington Street and stretches all the way back to The Ridings. This provides a unique setup with substantial square footage (on the ground floor. In addition, this unit has a basement spanning more than half the ground floor space. The unit totals approx. 15,000 sq ft. The unit has access from both Abington Street and The Ridings.

The shop is let to The Salvation Army on a 5 year lease from March 25, 2024, with breaks in March 2026 and March 2027. The rent is £90,000 +vat p.a.

Key Features:

• Prime location
• Tenure – Freehold
• Current rental income of £90,000 p.a.
• GIA of around 15,000 sq ft
• Price: £1,150,000 ex-vat
• Vat is applicable to this property, but it is expected to be able to be treated as a TOGC

Location:

Northampton is an important city in the East Midlands of England, being a large retail and market centre for the surrounding area. Northampton is desirable for its combination of rural and urban areas.

The shop itself is located on Abington Street which is less than a 10 minute walk from the town centre. Abington Street is established as a retail centre attracting string pedestrian traffic to the many national and local retail and leisure businesses.

Occupiers close by include H&M, The BBC, Superdrug and a range of local, national and independent retailers and pubs.

Vanderwald Estates have represented the information here based on information provided by the vendor. All potential buyers should only rely on their own due diligence and inspections.