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Lot 27

Freehold Shop & Flat – Gross Yield 10%
In the same family ownership for over 25 years
6 week completion

SITUATION

Located near to the junction with Market Street amongst a host of local traders and diagonally opposite an entrance to the Swansgate Shopping Centre which houses multiples including Boots, Superdrug, Holland & Barrett, Greggs and many others.
Wellingborough is a market town located approximately 10 miles north-east of Northampton and 8 miles south of Kettering enjoying easy access via the A45 to the M1 (Junction 15).

PROPERTY

An end of terrace building comprising a Ground Floor Shop and Basement together with internal and separate side access to a Self-Contained Flat on the first and rear second floors.

ACCOMMODATION

Ground Floor Shop
Gross Frontage	16'4"
Return Window Frontage	8'11"
Internal Width	15'5"
Shop Depth	27'0"
Built Depth	59'7"
Rear Prep Area	Approx. 174 sq ft
WC
Basement
Storage Area	Approx. 310 sq ft
First & Rear Second Floor Flat
2 Bedrooms, Living Room, Kitchen, Shower Room/WC
GIA	Approx. 640 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to C. Patel as a Pizza Restaurant/Takeaway for a term of 16 years from 30th April 2021 at a current rent of £14,000 per annum exclusive.

Rent Reviews 2027 and 2032

Note 1: The flat is currently used as Ancillary Accommodation by the tenant.

Note 2: There is a Rent Deposit of £12,500 being held.

Note 3: The shop has been used as a Pizza Take-away for over 35 years.

*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.

25a Midland Road, Wellingborough, Northamptonshire NN8 1HA