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Lot 9

Freehold Retail Investment – Gross Yield 10%
6 Week Completion

Situation

Located close to the junction with Wharf Road in the heart of this picturesque market town, nearby multiples such as Co-op and Age UK and a variety of independent retailers.
Higham Ferrers is situated less than a mile north of Rushden and approximately 13 miles north-east of Northampton and 13 miles north of Bedford.

Property

An attractive semi-detached building comprising a Large Ground Floor Single Storey Unit comprising a Coffee Shop with internal and separate front access to Ancillary Store.

Accommodation

Ground Floor Single Storey Unit
Gross Frontage	34'0"
Built Depth	60'9"
Coffee Shop plus Ancillary Store	GIA Approx. 1,920 sq ft incl. 2 WCs

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a schedule of condition) to Bewiched Limited as a Coffee Shop (see Tenant Profile) for a term of 10 years from 18th June 2018 at a current rent of £16,000 per annum exclusive.

Rent Review June 2023 (Outstanding)

Tenant Profile

Bewiched have been trading since 2010 and now operate a chain of 17 walk-in stores and 2 drive-thrus across the Midlands. Visit: www.bewiched.co.uk.

Note: The Tenant did not operate their June 2024 Break Clause.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

20 High Street, Higham Ferrers, Northamptonshire NN10 8BL