28 Guildhall Road Under Offer

28 Guildhall Road Northampton
NN1 1EW
£260,000

Summary

Town Centre Retail Investment
  • Town centre opportunity
  • Reversionary investment opportunity
  • Let to an well established boutique retail tenant
  • Future development prospects (STP)
  • Prominent corner position

Location

Guildhall Road, located within Northampton's Cultural Quarter, connects Derngate in the north to St John's Street in the south. The property enjoys a prominent position at the junction with Angel Street. The recent redevelopment of Vulcan Works into a dynamic co-working space for creative industries has enhanced the area's appeal, increasing foot traffic and improving the commercial landscape. Adjacent to Vulcan Works is One Angel Square, a modern office complex occupied by West Northamptonshire Council.

Accommodation

The subject property comprises an attractive three-storey (plus basement) retail building thought to have been originally developed in the mid-Victorian era, constructed with red brick walls and a pitched slated roof with dormer window projections. As well as the principal building, there is a small, tiled yard to the rear enclosed by party structures. Due to the slope of Guildhall Road, this is accessible from basement level.

Internally, the accommodation provides an open-plan retailing space to the front of the building, at ground and first floor level with partitioned changing areas. On the second floor, the space within the eaves is utilised as an office and ancillary storage facility and is finished to a good specification including air conditioning. The basement is well finished to a similar standard where is also a small kitchenette at this level as well as a WC and the doors out to the aforementioned rear yard.

Floor Areas

Ground Floor Retail 493 Sq Ft 45.80 Sq M
Basement Storage 360 Sq Ft 33.44 Sq M
First Floor Retail 344 Sq Ft 31.96 Sq M
Second Floor Offices 306 Sq Ft 28.43 Sq M
Total Area 0 Sq Ft 0.00 Sq M

Terms

The property is currently let by way of a commercial lease, to Earthwalk LTD. A 6 year term was granted commencing April 2021, generating £15,000 pa. A full copy of the lease is available upon request.

Legal Costs

Each party is to be responsible for their own legal costs.

VAT

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. It should be noted 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.

Service Charges

Energy Performance Certificate Rating

Awaited.

Other Information

In accordance with Money Laundering Regulations, please be aware that any prospective purchaser will be asked to produce I.D. documentation when a sale is agreed and we ask for your cooperation in order to not delay matters.

Viewing

To view and for further details please contact:

Ravi Varambhia
Email: rv@underwoods.co.uk
Telephone: 01604 404060
Direct Dial: 01604 774149

Charles Church
Email: cc@underwoods.co.uk
Telephone: 01604 404060
Direct Dial: 01604 783004