8 Kingsley Park Terrace Sold

8 Kingsley Park Terrace Northampton
NN2 7HG
£225,000
1657 sq ft

Summary

Investment sale. Retail unit with residential uppers, let on a 10 year term from May 2014 at a rent of £16,900 per annum exclusive.
  • Investment sale, subject to an unexpired lease of just under 8 years
  • Popular secondary retail area
  • Self-contained first floor residential flat

Location

Northampton is a prosperous East Midlands town with a thriving local economy based on the service sector, distribution and warehousing and some manufacturing business. The town enjoys very good road connections by means of the M1 and A45 and has a main line rail link to London Euston.

Kingsley Park Terrace is a popular secondary retail parade forming part of the Kettering Road approximately 1½ miles to the north east of Northampton town centre. Apart from the other retail units within the parade the area is predominantly characterised by high density Victorian terraced housing. The University of Northampton's Avenue Campus lies in close proximity.

Accommodation

The premises comprise a two storey building with retail unit on the ground floor and a self-contained residential unit above plus one room in the roof space.

Internally the retail unit comprises a convenience store layout with UPVC cladding to the interior walls, lino floor, false suspended ceiling with attached strip lighting. A door to the rear of the retail unit leads to the outside yard. The upper residential accommodation is accessed via an external staircase to the rear, and provides a sitting room, kitchen, bathroom and double bedroom. In addition, a stairwell leads to the large double bedroom within the roof space of the property.

Externally the rear yard provides access to a block and brick constructed storage space, through which there is access to a delivery area off Oliver Street behind.

Floor Areas

Ground Floor Retail 725 Sq Ft 67.35 Sq M
Residential Upper Floors 932 Sq Ft 86.58 Sq M
External Store (not included in total) 234 Sq Ft 21.74 Sq M
Total Area 1,657 Sq Ft 153.94 Sq M

Terms

The property is available freehold subject to the current tenancy.

The property is subject to a full repairing and insuring lease to Mr Thind for a term of 10 years from 12 May 2014, and therefore expiring on the 11 May 2024, at a rent of £16,900 per annum. A rent review is due on the 12th May 2017 and falls every 3rd anniversary thereafter.

Legal Costs

Each party is responsible for their own legal costs incurred in the transaction.

It should be noted that all figures quoted either verbally or in writing are exclusive of VAT unless specifically stated.

Services

We understand that all mains services including water gas drainage and electricity are connected to the property. Prospective occupiers should note that none of the services have been tested and it is up to prospective occupiers to ensure that the facilities are installed and working to their own satisfaction.

Viewing

To view and for further details please contact:

Stephen Battersby
Email: sb@underwoods.co.uk
Telephone: 01604 404060
Direct Dial: 01604 783002

Amy Gregory
Email: ag@underwoods.co.uk
Telephone: 01604 404060
Direct Dial: 01604 774146